Lebanon's Economic Crisis Getting Worse! Floods And Wildfires Around The World! | Oh My World!

Hey, Geeks! We’ve got lots of news this week so let’s dive right in!

Welcome back to Oh My World! with Hagar Chemali, your weekly dose of world news and foreign policy! Be sure to like, subscribe, and hit the notification bell for all things Bold.

Norwegian Women’s Handball Team Fined Over Uniforms

The Norwegian Women’s Olympic handball team was fined for wearing shorts instead of bikini bottoms in a competition. They asked the olympic committee if they could wear shorts but they were told no. However, they thought the rule was sexist and decided to wear shorts in their last match. I mean who doesn’t want to play Olympic sports in bikini bottoms?

Weather This Past Few Weeks Has Been Crazy

There is a huge wildfire in Oregon and that smoke has reached New York causing the sun to look bright red to us. What is going on?! The Pacific Northwest in the United States and Canada just experienced a heat wave that broke records. These numbers are crazy high unless you live in the desert. In Canada, temperatures went up to 120 degrees Fahrenheit and Oregon hit 115, which created the perfect condition for the previously mentioned wildfires.

This isn’t limited to just North America. In Europe, in just two days it rained the amount they would usually get in two months. These rain storms caused horrific floods and sinkholes in Belgium, Germany and the Netherlands, killing almost 200 people. Similar abnormal weather was found in Finland, Russia and China.

But why is this happening? As a result of increasing greenhouse gas emissions, temperatures are rising around the world. And no, this isn’t a political statement but scientific fact. As it gets hotter, there is more moisture in the air and it has to explode somewhere, which make perfect conditions for these abnormal weather patterns and events. While the greatest polluters Europe, U.S. and China are pledging to reduce their emissions, they need to move fast unless they want us to live on the moon.

Lebanon’s Economic Crisis Is Getting Worse

The economic crisis is reaching a whole new level and the New York Times claims that this may be one of the three worst global economic crises of the past two centuries. Here’s some crazy numbers for you: Lebanon’s currency has lost over 90% of its value over just the last year. If you used to make something like $1,000, well now you would be making $70. At the end of last year, inflation climbed over 147% and food inflation was over 400%!

You thought things couldn’t get worse? According to UNICEF, 77% of families don’t have enough food and 30% have said they had at least one child who has skipped a meal or went to bed hungry. Unemployment has also risen to a shockingly high 40% at the end of last year. As a result of all of this, Lebanon can’t import essential products like medicine or oil.

While the people are standing in line for hours for oil, government officials allow people to illegally buy oil across the border of Syria. Of course, this is so these government officials can line their pockets.

Danielle Hatem Breaks Down Lebanon’s Economic Crisis

Danielle Hatem is an entrepreneur and former banker based in Lebanon. She is also the host and creator of D Does Business on Instagram and YouTube. When asked how Lebanon has gotten to this terrible crisis, Danielle explains that the economic model that Lebanon built in the 90s was an unsustainable model and now we see the results of that. Most economists could see the writing on the wall because the economic model had a pegged system and limited production in the actual country. This paired with corruption and recurring political deadlock is a recipe for disaster. This led to more than 55% of the Lebanese population living in poverty. Unfortunately, there is no plan or action taking place to fix these issues thus far.

Want to see more on these topics, and who’s on our Crush List and $h!t List this week? Stay tuned to the video!

What do you think? Let us know in the comments below!

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