20: What can 20 Pakistani rupees ($0.07) buy you? A defense against misfortune sounds like a bargain. That’s the price you’ll pay for a packet of scrap meat to throw to predatory birds in Lahore. The practice is an age-old tradition that has survived despite intensifying efforts by the authorities to stamp it out. Wildlife experts say it encourages overpopulation and aggression in the bird populations, but a local rickshaw driver tells Reuters he does it anyway to “keep his life safe.”
0.6: New data from Russia this week will show consumer prices rose just 0.6% in February. Annual inflation is likely even lower than the last reading of 7.5%. That’s not stellar, no, but for a sanctions-wracked economy where inflation hit nearly 18% after invading Ukraine, it’s another sign the West hasn’t really crippled the Kremlin’s war machine. Vladimir Putin, for his part, is confident enough in the inflation numbers to uncork $126 billion in social spending ahead of his “election” this weekend.
7.3 trillion: Speaking of spending, US President Joe Biden unveiled a $7.3 trillion budget proposal on Monday featuring massive new social spending financed by tax hikes on corporations and the mega-rich. Non-partisan analysts say the math is “unrealistic,” and it has zero chance of passing a GOP-run House anyway. But it’s not meant for Capitol Hill; it’s meant for the campaign trail, where Biden is trying to convince American voters that “Bidenomics” is a win. Polls show skepticism, despite improving economic data.
900 million: Social media apps owned by “China,” Mark Zuckerberg, or Elon Musk may get all the attention these days, but the messaging app Telegram has quietly hit 900 million regular users (nearly 3X that of X) and is mulling an IPO. The freewheeling Dubai-based platform, created by Russian-born entrepreneur Pavel Durov, has emerged as a major free speech hub, particularly in Russia, but it has also drawn criticism for allegedly allowing criminal activity and “misinformation.”
