The Pour Over Today - Wednesday, June 15, 2022

Episode Date: June 15, 2022

Today we’re talking about big drops on Wall Street, a Google engineer’s concern that AI has gained sentience, the persistence of Russian funding, and other top news for Wednesday, June 15th. Stay informed, while remaining focused on Christ, with The Pour Over. Sponsored by the CSB Translation. Here’s a list of the highest-profile cases still awaiting final rulings

Today we're talking about big drops on Wall Street, a Google engineer's concern that AI has gained sentience, the persistence of Russian funding, and other top news for Wednesday, June 15th. Stay informed while remaining focused on Christ with The Pour Over. Here's the quote of the day. Convictions are not merely beliefs we hold, they are those beliefs that hold us in their grip. Albert Moeller. Let's get started with some espresso shots. It finally happened. After teetering on the edge for weeks, the S&P 500 dropped into bear market territory on Monday. It's down 21% from January's all-time high. Some big names with the grizzliest losses include Amazon. They're down 39% in 2022, Alphabet down 21%, and Tesla down 45%. Meanwhile, inflation

climbing to new highs has analysts predicting another even bigger interest rate hike. The Fed is meeting today and is expected to announce 0.75% hikes in both June and July. If announced, it would be the biggest increase since 1994. All considered, investor sentiment is low. Hedge fund managers are expecting a weak global economy in June, and a Fed GDP tracker states that the U.S. is on the brink of, if not already experiencing, a recession. Too often we let eternally insignificant things like the ups and downs of Wall Street control our mood and behavior. Seeking to steward money well is a good thing, but our hope is in Christ, not in the stock market. Philippians 4, 6-7 says, Don't worry about anything, but in everything, through prayer

and petition with thanksgiving, present your requests to God. And the peace of God, which surpasses all understanding, will guard your hearts and minds in Christ Jesus. Google engineer Blake Lemoine was placed on paid leave after publicly claiming that the Lambda AI system had become conscious. Lemoine published transcripts of his conversations with the free-flowing conversation bot, reporting, quote, Before praying he's more WALL-E than Terminator, know that AI experts have joined Google in saying that LeMoyne is anthropomorphizing, or assigning human characteristics to a machine where none exist. Unbothered by the possibility of sentient machines, Amazon confidently announced on Monday that they'll begin using prime air drones to make deliveries in California. Fingers crossed,

the drones like their job. Here's a verse to consider when you're imagining a future worthy of science fiction. The life of every living thing is in his hand, as well as the breath of all humanity. Job 1210. Despite international sanctions and embargoes, Russia is still making money. Efforts to dwindle Russian revenue have had little actual impact. Declines in EU oil imports were offset by increases from India and the UAE, and soaring fuel prices have offset any decline in volumes. Also still in business, Russian McDonald's restaurants. Kind of.

Under new ownership and rebranded with a name that translates to, quote, tasty and that's it, 15 previously shuttered in protest stores have reopened, and 200 more plan to turn on the griddles by the end of the month. Even as Russia resumes their burger runs, the battle for Ukraine's eastern Luhansk province continues. The fighting is now centered around the city of Sievorodonesk as hundreds of Ukrainian troops hunker in the Azat industrial plant, with another 800 civilians in bomb shelters underneath. Regardless of whether the broader economy is struggling or thriving, Christians should seek to give generously of their time, talents, and resources to those in greater need.

Reach out to your local church to see where help is needed. Galatians 6, 9-10 says, Let us not get tired of doing good, for we will reap at the proper time if we don't give up. Therefore, as we have opportunity, let us work for the good of all, especially for those who belong to the household of faith. This podcast is brought to you by the CSB Translation. especially for those and true to the original languages, and each Bible line they make helps draw people closer to Christ. So,

when you fill in the margins of your current Bible with ink, look to CSB. We've got a link for you in the show notes. In other brews, we've got a rapid round of updates. The second day of the January 6th committee's public hearings wrapped up on Monday. The hearings focused on former President Trump's claims of widespread election fraud and testimony from key Republicans and his own advisers that he was informed there was no evidence of fraud. The next episode of Hearing will be tomorrow. Yesterday, the House joined the Senate in passing a bill

that provides security to family members of SCOTUS justices after the arrest of an armed man outside Justice Kavanaugh's house. The Supremes leave for summer break at the end of the month, and we've got a list for you in the show notes of the highest profile cases still awaiting final rulings. 31 members of the Patriot Front, a white supremacist group, were arrested in northern Idaho over the weekend near a local LGBTQ pride festival. The men, who were equipped with riot gear and smoke grenades, were charged with conspiracy to riot. Maine, Nevada, North Dakota, and South Carolina held primary elections yesterday. Representative Tom Price from South Carolina is one of 10 GOP congressmen who voted to impeach former President Trump, and he's expected to lose to a Trump-endorsed challenger.

Republicans do seem poised to flip a Texas Democratic House seat in a special election. The weather is packing a serious punch so far this summer. The U.S. is sweating through a heat wave, Yellowstone National Park landmarks were temporarily closed due to a torrential flooding, and fire risk is critical in the southwest, Rockies, and northern Great Plains. That's all we have for today. Thanks so much for listening. If you're listening on the Apple Podcast app, you can give us a five-star rating and drop a review. We do actually read these and take them to heart. Like this review from username Jim and Char. Great, concise, impartial updates. I'm 70. My 30-something kids are now listening too. Thanks so much for taking the time out of your day to submit a review.

We're so grateful for feedback. If you're listening on Spotify, you can give us a follow and hit the notification bell to never miss a new episode. And finally, the simplest way to help us grow is to send this episode to a friend. We hope you have a great rest of your day and we'll see you back here on Friday, June 17th.