The Daily Valet. - 3/23/23, Thursday
✔️ That Escalated Quickly
Thursday, March 23rd Edition
By Cory Ohlendorf, Valet. Editor
What did you stir into your coffee this morning?
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Today’s Big Story
Oat Milk Is Everywhere
The Dairy alternative is booming, but that doesn't mean it's getting any cheaper
What's your milk of choice these days? Do you still like good, old fashioned cow's milk? Or have you been experimenting with soy, almond and oat? Whichever you choose, you can now proudly (and legally) call it “milk”—after Big Dairy lost its battle with the FDA.Besides, oat milk is booming and fast becoming the people's milk. This probably isn't so surprising to anyone who's laughed along with one of Oatly's self-deprecating ads, which are plastered all over our cities. Since the Swedish milk brand with a cult following landed in stores and coffee shops around the States back in 2017, sales surged by 1,200% in the following years.According to Bon Appétit, if you want a cow's milk latte at Stumptown, you're going to have to ask for it. As of early this year, oat milk is the default at the coffee chain—which has locations in Oregon, New York, California and Japan—and all milks are priced equally. And Stumptown isn't the only brand betting big on alternative milks. Panera Bread and Pret a Manger both ditched such surcharges for swapping in alternative milks.Anyone who's shelled out $8 for a carton of oat milk is probably wondering, will this popularity translate to cheaper prices? Unfortunately, no. As one food systems economist explained, it's actually pricier to grow crops and blend and bottle them than it is to raise and milk a cow. Of course, dairy is just unnaturally cheap to begin with, because taxpayer dollars have been propping up the industry in various ways for more than 70 years.In fact, oat milk is only getting more expensive and harder to get a hold of, thanks to an increased demand and everything from rising energy and production costs, to the war in Ukraine, which has choked the supply and driven up the price of various grains.
DIY:
Here's how to make your own creamy, smooth (and not slimy) oat milk in under three minutes at home.
Federal Reserve Raises Rates Again
What does an interest rate hike really mean for your money?
The Federal Reserve raised its target interest rate by a quarter-percentage point Wednesday, after nearly two weeks of turmoil in the financial industry. They also acknowledged that problems in the banking system triggered by those previous rate increases are likely to weigh further on the economy.In its latest economic projections, Fed officials now expect economic growth to be slightly slower this year—and inflation slightly higher—than they predicted in December. According to the Associated Press, this ninth hike suggests that Jerome H. Powell, the Fed chair, is confident that they can manage a dual challenge: Cool still-high inflation through higher loan rates while defusing turmoil in the banking sector. It's also possible that the bank stresses may affect economic activity in a way that would help counter inflation.But what does this really mean for you? CNBC reports that one of the most noticeable ways it affects your wallet is credit card APRs. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. But as home and auto loans go up, so too, do saving account rates. So pay down those cards and stick extra cash into your savings account ASAP.
Partner
They’re the pieces you wear all the time. Shouldn’t they be of the utmost quality?
Are We Becoming Less Intelligent?
Americans IQ scores have fallen for the first time in decades. WHat does this mean, EXACTLY?
So much for a bright future. The “Flynn effect” refers to the increase in IQ scores over time. A study by researchers at Northwestern University shows that the U.S. may be seeing a “reverse Flynn effect” after IQ rates fell between 2006 and 2018.Forgive my ignorance, but does this mean we're getting dumber? Not really, according to the scientists. (Phew!) Similar studies in Denmark, Britain, France, the Netherlands and Finland have demonstrated a similar downward trend in IQ scores, one researcher told CNN. And even study author Elizabeth Dworak said that this does not necessarily mean the country is becoming less intelligent. “It could just be that they're getting worse at taking tests or specifically worse at taking these kinds of tests.”An IQ test typically measures a variety of cognitive abilities, and is meant to help understand someone's intellectual ability and their potential. However, there have been criticisms of the test, as they can sometimes be misinterpreted, according to Discover magazine.
Dig Deeper:
Psychology Today spoke with the researchers, who offered five main explanations, from a “ceiling effect” to media exposure.
Americans Are Getting on Board With E-Bikes
A green future can't rely on only electrifying cars
Electric cars are clearly our future, but are EVs the only way to get those hydrocarbons and greenhouse gases from combustion engines out of our atmosphere? No way. More and more people are pushing for smaller, less energy-hungry methods of personal propulsion. From members of Congress on down to Twitter meme-makers, more and more Americans are hopping on the e-mobility train.A new report from Slate shows just how popular the movement has become—and how much it could help our planet. They point to a pile of evidence that e-bikes, with their tiny carbon footprint, can replace many car trips. (Traditional pedal bikes can replace them too, but they are more often used for recreation rather than transportation in America.)Of course, a zippy e-bike makes it easy to be a bike commuter, but the high cost discourages too many consumers. That's why it's promising an electric bike tax credit bill has been reintroduced—providing up to $1,500 off new e-bikes. That will no doubt get more people off of the highway and into the bike lanes.
GEt Going:
Today's e-bikes allow you travel 15-20 MPH without ever breaking a sweat.
In Other News
The biggest decider of who backs a ban? If they use TikTok.
Have you heard about ...
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Everyday Luxury
The benefits of upgrading your favorite staples
A man's wardrobe is best served by having a few well-made workhorse items. Those garments that are tried-and-true. The ones he can return to again and again. They don't have to be fancy, but if you're going to spend money on clothing, it seems like a far smarter investment to put down the cash for a luxe version of your favorite chinos, sweatshirt or jacket, rather than some “special occasion” piece that lives out its life sequestered to the back your closet. Here, a few examples from MR PORTER's latest offerings to consider.
Take your standard leather jacket up a few notches, by opting for a luxe, buttery suede version. This one, from MR P., is cut with a relaxed drape in a sporty coach-style silhouette. It has a stylish throwback camp collar and is finished with horn buttons.
$900 by MR P.
Nili Lotan's modern take on some classic cords are cut from durable cotton and tailored for a cropped, tapered fit that looks great with loafers, sneakers and boots.
$550 by Nili Lotan
Part of the brand's Eternal line, this ultra soft hoodie is intended to be worn for years to come. It's made from cotton-jersey backed in warm fleece and flocked with the collection name across the back shoulders.
$695 by Fear of God
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Shopping
What We’re Buying
All-white canvas sneakers
SeaVees is offering 30% off their entire site right now, and it's the perfect time to get a fresh pair of all-white canvas sneakers for the warmer days ahead.
Get It:
Legend sneaker, $78 / $54.60 (w/code SPRING30) by SeaVees
Morning Motto
Need a second? Just breathe.
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