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i think the concern right now is really kind of concentrated on the longer shipping time. the market is not pricing in that we actually lose barrels from the market as a result of what is happening in the suez canal. what it is concerned with right now and the reason it has risen 6% is because the shipping costs associated with travelling around the southern tip of africa to reach its destination adds around 15 days of travel time. it increases freight costs. and it has increased insurance costs. so that is what the market is pricing and looking at this point. the market has not entered a panic mode, as we ve seen in the past with other geopolitical events, where it starts to price in supply is lost from the market. right now, it is a logistical re routing, what we are seeing, and not kind of that panic and fear that we are going to lose barrels. that obviously can change very rapidly, and we have seen that obviously can change very rapidly. the venezuelan president ....
refugee camp on sunday. it comes as humanitarian aid entered gaza directly from israel for the first time in more than two months. at another crossing on egypt s border, some aid deliveries were mobbed by palestinians desperate for food. also on sunday, a funeral was held for one of the three israeli hostages shot dead by israeli troops in gaza after being wrongly identified as a threat. alon lulu shamriz was abducted by hamas during the october 7 attacks. he and the other two hostages were shot dead while holding a white cloth. they had also painted an 505 sign written with leftover food. officials have admitted that killing the men who were holding a white flag was a breach of the rules of engagement . the white flag is an internationally recognised sign of protection. israel s own manual on the rules of warfare states that its forces should not attack a prisoner of war who is asking to surrender or waving a white flag as a sign of surrender. our correspondent luc ....
so in a very short time the poverty rate in venezuela doubled by nineteen ninety five . 66% of all venezuelans werehe impoverished. getting poorer tends to make voters radical. so inevitably venezuela gotbl radical politics. what happened next ? venezuela is now rated one of the most miserable places on planet earth. a few years ago, citizens in caracas were reduced toos eating zoo animals. there was no n food and for that matter there was no electricity. so in just half a lifetime an advance of society had reverted to the stone age. the states is not in danger of becoming venezuela next week, but we are moving closer to it . inflation is a big part of the reason of all a the economic crises a country can face. inflation isla the most dangeros inflation doesn t just make people poor. it totally destroysn their confidence in their leaders. the authorities who issued the now worthless currency they re using for toilet paper u inflation is not an act of god like a droughti ....
Is and we arent addressing it. So you take revenue up and discretionary and mandatory spending are falling as a percent of the economy over the longterm . It is yes. As you know. I think we are finding places on the mandatory side where we are reducing spending and i think i wanted to respond to your earlier point where we are stopping spending, with 4 4 million of reduction in medicare and medicaid and prop insurance and programs. [ overlapping speakers ] and on those entitlement and Social Security and debt you take it from increasing 105 , to increasing 99 over the next ten years. I mean obviously that is the issue. So Discretionary Spending goes down, on both sides, they say this is great. It doesnt have more Discretionary Spending. It has less. It has less. For both defense and nondefense. Health ca ....
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