Hi Global Recap readers,

🤯 This weekend was wild.

If you frequently lurk around X for news like me, you would have seen the debacle that unfolded around the resignation of UPenn’s president after her appearance at a congressional hearing.

You haven’t? That’s alright.

We are covering it today (feat. Dr. Phil): so stick around.

🌐 Around the world:

• Iran sues the US for billions.

• Russia to take away passports.

• US fighter jet crashes near Korea.

• China’s deflation.

• US College president resigns after antisemitism hearing.

Let’s get into today’s news.

🇮🇷 Iran Sues US for $50 Billion

Iran’s courts have ordered the US government to pay up.

• How much? $50 billion for the killing of Qassem Soleimani, the commander of Iran’s Quds Force.

• Who sued? The legal action was allegedly driven by over 3,000 plaintiffs, who claimed damages as a result of the commander’s death.

• Assassination: Soleimani was killed in a US airstrike near Baghdad airport in 2020, under President Trump’s orders.

But that’s not all. Another Iranian court previously ordered the US to pay $330 million for “planning a coup” in 1980, after the Islamic revolution.

Yeah… that’s not happening.

Click for more

🇷🇺 Russia Confiscating Passports

The Russian government has issued a new decree.

So, you’re a Russian who’s been banned from traveling abroad?

From today, you’ve gotta hand over your passport within five days of getting the notice.

• Reasons: The travel ban applies to conscripts, Federal Security Service (FSB) employees, convicts, or people who have access to state secrets, among others.

• Speculation: The move is seen as preventing defections, leaks, or dissent among the elite and the security forces.

The timing seems convenient - especially with elections right around the corner.

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🛩️ US Fighter Jet Crashes Near Korea

A US F-16 fighter jet plunged into the sea off the west coast of South Korea on Monday morning, during a routine training exercise.

The pilot ejected safely and was rescued by the South Korean maritime forces.

• Cause: The F-16 experienced an “in-flight emergency” during a routine training mission.

• Context: This is the second crash involving a US F-16 in South Korea this year.

The incident raises serious questions about the safety and reliability of US military aircraft in the region - especially, because it was only 2 weeks ago a US aircraft crashed near Japan, killing all 8 US crew members.

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🇨🇳 China’s Deflation Exportation

China’s consumer prices fell the most in three years in November, while factory-gate deflation deepened.

The data signals weak domestic demand and a shaky economic recovery.

• CPI: Consumer price index dropped 0.5% year-on-year and month-on-month, the sharpest decline since November 2020.

• PPI: Producer price index fell 3.0% year-on-year, the 14th consecutive month of decline and the fastest since August.

Why does it matter? Deflation is a vicious cycle that can be hard to break, and it is not only a China problem. Economists warn of China “exporting” deflation globally to countries like the US.

Welcome lower prices? Not so fast.

Deflation equals heavy job cuts and income drops. Lower prices don’t mean anything if you don’t have a job.

What you want is disinflation, not deflation.

Click for more

United States

US Colleges’ Antisemitism Problem

Today, we are starting a bit differently.

Please watch the video above before reading.

🤵‍♀️ Who is that? Well, that is the President of the Universi…

Sorry, that WAS the President of the University of Pennsylvania, Liz Magill.

🗓️ Tuesday, December 5. Magill, along with Harvard President Claudine Gay and Massachusetts Institute of Technology (MIT) President Sally Kornbluth, testified at a congressional hearing by the House Committee on Education and the Workforce in response to alleged antisemitic incidents on their campuses.

😡 Criticism. She has come under fire from donors, politicians, and alumni for failing to condemn calls for murdering Jews on campus. She appeared to dodge questions of whether students who chanted support for “intifada” (meaning “uprising” through violent means) against Israel should be punished.

• The term originally did not have a nuance of violence, but after the Second Intifada between 2000 and 2005, which involved suicide bombings by Palestinians, the word took on a more violent connotation.

• Her smirking demeanor also seemed to have rubbed people the wrong way.

👎 The Fallout. Magill’s testimony was the last straw for many of her critics, who had already been unhappy with her approach to a Palestine Writes Literature Festival in September, which featured a speaker who allegedly has a history of making antisemitism.

• Enter, Roger Waters - the bassist for the English band Pink Floyd. He attended the festival via Zoom.

• He is accused of wearing a Nazi-style uniform on stage at a Berlin concert on May 17. He also aimed a prop gun at the audience.

See the resemblance?

• However, in her response to the criticism, Magill admitted fault, but defended “Penn's commitments to open expression and academic freedom.”

😰 Pressure’s On. After Magill’s resignation was announced, Congresswoman Stefanik (the person questioning Magill in the video above) posted the following on X.

So what’s Harvard and MIT’s response to the hearing?

🔴 Harvard. President Gay is keeping her job, as of now.

• The school’s board of directors met on Sunday, although the meeting’s agenda is kept under wraps.

• According to The Harvard Crimson, more than 500 faculty members signed a letter to the Harvard Corporation in support of President Gay.

🔴 MIT. President Kornbluth also kept her job. Two days after the hearing, MIT’s board released a statement expressing support for Kornbluth.

Here’s a snippet:

To finish off…

Now that you’re all caught up, please watch this latest TikTok video from none other than Dr. Phil, in which he passionately explains and expresses his disgust over the current situation.

@drphil

Dr. Phil viewed a highly restricted IDF video of the Oct 7 Hamas massacre on Israel. He says he's "sickened by video images I can never "... See more