The Daily Valet. - 11/3/22, Thursday

✔️ What's the Mood?

Thursday, November 3rd Edition

Cory Ohlendorf, Editor in Chief of Valet.

Good morning, we’re all here because we didn’t win the Powerball, yeah?

Cory Ohlendorf , Editor ⋯ @coryohlendorf

Today’s edition is presented by

Today’s Big Story

The Mood Before the Midterms

Republicans, backed by enthusiasm and economic concerns, hold an edge ahead of next week’s congressional election

With less than a week to go before the crucial midterm elections, President Joe Biden stood before the country on Wednesday and delivered a dire warning: “There are candidates running for every level of office in America, for governor, Congress, attorney general, secretary of state, who won’t commit to accepting the results of the elections that they’re running in,” Biden said. “It’s unprecedented. It’s unlawful and it’s un-American.”

It sounds dramatic and maybe like political spin, but those are the facts. Election officials have said they anticipate unprecedented efforts to disrupt the midterms, especially in battleground states. And only 41% of Republicans have confidence that U.S. elections now reflect the will of the people, a CNN poll conducted by SSRS and published Wednesday found. But they express “greater engagement with this year’s midterm election than Democrats across multiple questions gauging likelihood of vote.”

Democrats control the House by a thin margin and the Senate by the barest of votes—50-50 with Vice President Harris as the tiebreaker. If they retain control, it will defy historical trends (and conventional wisdom). It would be a lifeline to execute stalled portions of their agenda and improve prospects for a second White House term. But if Republicans retake just one chamber, they can block President Biden’s agenda for the remainder of his term. If they take both, it’s basically game over.

Perhaps it’s because of how ugly politics has gotten lately, but enthusiasm is down overall compared to 2018’s midterms—but Democrats’ energy has fallen more noticeably according to recent polls. Notably, showing why midterm elections tend to be base elections, independents are also way down the list when it comes to enthusiasm.

According to CNN, the numbers are clearly daunting for Democrats: Just 40% of Americans approve of the job Biden is doing as president. About 49% say the state of the economy is “poor.” And a meager 21% approve of the job the Democratic-led Congress is doing.

Then again, preserving democracy and abortion have also been key and hugely motivating factors. About 65% of Generation Z, millennials and other younger voters say that they will definitely vote. According to PBS, those are “high proportion voters for Democrats.” On the other hand, about 89% of white evangelicals, (who generally vote more Republican) say they are planning to definitely vote. So it seems we could have a nail-biter of an election night ... that is, if we know the outcome on the night of.

↦ FYI: Google searches about “Antisemitism” have joined the top trending pre-election searches online.

Fed Orders Interest Rate Increase. Again.

The Federal Reserve has now raised interest rates six times this year

The Federal Reserve ordered another big boost in interest rates on Wednesday, and warned that rates will have to go even higher to bring stubbornly high inflation under control.

The central bank raised its benchmark interest rate by 3/4 of a percentage point. The rate, which was near zero in March, has jumped 3.75 percentage points in the last eight months. That's the most aggressive string of rate hikes in decades—but unfortunately, it's done little to curb inflation so far. Policymakers said that “ongoing increases” will likely be required to establish rates that can “return inflation to 2% over time.”

According to the New York Times, borrowing costs are a blunt tool for controlling inflation and work with long lags, so there's always a risk of overdoing rate increases and slowing the economy more than is necessary to bring inflation down. But on the flip side, there's also a risk to underdoing it: If price increases remain rapid for a long time, inflation could stick around—and that would be even more painful to stamp out.

While there may be plenty of downside in the form of higher borrowing costs for consumers, one positive outcome is that your savings may actually start earning a little money after years of barely-there interest. “Interest rates have increased at the fastest pace in 40 years,” one analyst told CNN. “Savers are seeing the best yields since 2008—if they're willing to shop around.”

↦ Meanwhile: The average 30-year fixed mortgage rate in October rose above 7% for the first time in 20 years.

Partner

'Tis the season for drinking. We've got the best way to have quality drinks sent to yourself (or your loved ones).

Uber Tests Feature No One Wants

Sending annoying push notification advertisements? In this economy?

Come on Uber ... after all the scandals you've been through, you really couldn't predict that this would get you some hatred? In case you don't know what I'm talking about, Uber has started showing iPhone users ads for other companies in its push notifications.

The company recently launched its new advertising division. And it's apparently sending out ads from other companies even when users aren't engaging with the app. For now, the company just seems to be testing the limits of what its customers will put up with. And I'm gonna guess, not much.

As originally planned, ads on Uber were supposed to be for a single merchant and only seen three times during a trip: While you're waiting for a car, as you're riding and when you reach your destination. But users are complaining on social media that they're getting the ads sent to their homescreens.

Uber's plan to monetize your attention when you're trying to get home from the airport drew widespread criticism, but ads in notifications reach even further in to our personal space than what critics anticipated. Here's hoping that test puts this practice to rest soon.

What’s a ‘Dark Sky Nation’?

And why does New Zealand want to become one?

If you've ever looked up at the night sky and marveled at the vast darkness and twinkling stars, you were probably out of the city, right? Getting a proper look is harder and harder to do now that light pollution now affects 80% of the planet.

That's why people are looking to preserve places where you can see the true night sky and taken in Milky Way's luminous glow. They're called Dark-Sky places. And it's a distinction not easily attained—only 115 Dark-Sky Parks exists in the world, along with two dozen Dark-Sky Reserves and Sanctuaries. There's currently only one Dark-Sky Nation in the world—the island country of Niue.

Now, another island in the South Pacific is hoping to be the second. National Geographic says it's “an unprecedented goal for a country of New Zealand’s size.” And it's all thanks to the Indigenous Māori people, whose ancestors relied on the sky for survival purposes and are now spearheading the initiative. Officials say it's achievable, though it'll take a minimum of three years to raise awareness among residents, change local light ordinances and expanding the area of protected places.

If you're looking to experience the deep darkness a little closer to home, you could always head up to North Dakota. Home to some of the best Dark-Sky reserves in the world, it's one of the darkest places you can possibly go in the entire United States.

↦ Dig Deeper: What is “light pollution,” exactly? Let’s let the International Dark-Sky Association explain.

In Other News

↦ North Korea Keeps Up Barrage With Intercontinental Ballistic Missile Tests

↦ Why Everyone Suddenly Loves Westerns Again

↦ How a TikTok Creator’s Fake Pepsi Ad Went Viral and Led to Multiple Brand Partnerships

Other Things We’re Talking About Today

Lighters

Steve Jobs’ Birkenstocks

Thom Browne’s handsome townhouse

Partner

The Best Booze to Give (and Get)

Truly the gift that keeps on giving

When you’re unsure about what to get someone, or need a last-minute gift on your way to a party, there's really only one choice that will never disappoint: a good bottle of alcohol. After all, the holidays are the perfect time to break out the good stuff.

And whether you're sending a bottle to friends and family or simply having it delivered to your door before you head out, Saucey is the only way to go. They partner with local retailers to deliver beer, wine, spirits, mixers, snacks and cocktail kits in under 30 minutes to over three dozen cities. They also offer two-day and ground shipping throughout California and New York.

So if you're planning on going somewhere for the holidays and you're not sure what they'll be serving, consider showing up with a bottle that you yourself would like to drink. Then encourage your host to crack it open. Here are the spirits and ready-to-drink beverages we'll be giving (and hoping to receive as well). And if you need a “thank you” gift, there's nothing classier than sending you favorite bottles with a note (which Saucey can provide as well).

Ready-to-Drink Beverages

Clockwise, from top left:Smirnoff Ice Original, from $3.99; Smirnoff Ice Green Apple, from $3.76; Guinness Extra Stout, from $2.99; Smirnoff Ice Screwdriver, from $3.49

Spirits

From left:Ketel One Dutch Vodka, $10.99 for 375ml; Don Julio Tequila Blanco, $6.99 for 375ml; Johnnie Walker 12 Year Black Label Blended Scotch, $11.99 for 200ml; Tanqueray London Dry Gin, $7.99 for 200ml

↦ Exclusive Discount: Use promo code VALET7 for $7 off your first order

What We’re Eyeing

A beanie is a beanie, right? Well, sure. But some just look and feel better, don't they? Heimat is a German brand founded a few years ago by a former designer of Ralph Lauren's RRL line. Heimat specializes in nostalgic, Naval-inspired pieces knit and handfinished in Germany with 100% soft and toasty wool. The label's deck hat is a classic skull cap knit from 100% virgin wool, designed with the perfect two-inch roll when worn above the ears. Available in four different colors, we're currently eyeing the grey version.

↦ Get It: $61 by Heimat