Hey Dip Fam,
From rising prices to a Congressional standoff, there’s a lot to unpack today: energy prices continue to rise as April inflation hits a three-year high, Epstein survivors testify before House Democrats, and more.
Today’s estimated reading time is 3 minutes and 43 seconds.
- The Daily Dip Editor
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Nostalgia Nerd
On this day in 1940, what speech delivered to Parliament on a new leader's third day in office set the tone for five years of war, without once promising anything good?(answer revealed below!)
(hint: V for victory)
Before We Dip In (TL;DR)
In today’s issue:
Inflation hits a three-year high in April. 📈
Mayor pleads guilty to China foreign agent charge. 🏛️
Epstein survivors testify before Congress. ⚖️
Plus, take today’s poll and check out the Nostalgia Nerd quiz answer down below!
COMIC DIP
America’s ASSinine Politics
Thanks alexscoobydoo for this week’s winning caption. To enter our comic caption contest and get a shoutout in The Daily Dip be sure to join our Daily Dip Community.
ECONOMY
📊 April Inflation Reaches Three-Year High Amid Surging War and Energy Costs
April’s Consumer Price Index rose 3.8% annually, the highest since May 2023, with gasoline up 28% year-over-year and energy costs accounting for roughly 40% of the month’s gain. Real wages fell 0.3% on the year.
Economists are drawing comparisons to 1970s stagflation. The Iran war’s running cost has reached $29 billion, up $4 billion in just four weeks, with the Pentagon seeking a record $1.5 trillion defense budget for fiscal year 2027.
The pressure: Energy analysts warn higher fuel prices won’t fully spread into broader consumer costs for several more months, with some projecting effects lasting into 2027. Bank of America has pushed its Federal Reserve rate-cut forecast to the second half of 2027. Gasoline is up roughly 50% since the Iran conflict began in late February.
POLITICS
🏛️ California Mayor Pleads Guilty to Acting as Unregistered Agent of China
Eileen Wang, the mayor of Arcadia, California, resigned and pleaded guilty in federal court to acting as an unregistered agent of the People’s Republic of China after prosecutors said she ran a website disguised as a Chinese-American community news outlet that distributed Chinese government-linked propaganda from late 2020 through 2022.
One article posted under the scheme denied documented Uyghur genocide in Xinjiang, directly contradicting the U.S. government’s formal classification of those events as genocide and crimes against humanity.
The gap: Analysts say the case illustrates how local news collapse creates openings for state-directed content disguised as community journalism. Two co-defendants have already pleaded guilty, one of whom is serving a four-year federal sentence. The former mayor faces up to 10 years in prison.
Dipper Poll
:📈 Today’s Poll: Insider Influence
A California mayor pleaded guilty to acting as an unregistered agent of China after prosecutors said she helped publish government-linked propaganda through a website posing as community news.
What concern stands out most from the Arcadia case?
LAW & ORDER
⚖️ Epstein Survivors Testify Before Congress in Hearing Republicans Declined to Attend
Five Epstein survivors testified before House Democrats at a shadow field hearing in West Palm Beach on May 12, after the Republican committee chair declined to convene a formal hearing. Not a single Republican attended the nearly three-hour session.
The hearing surfaced concerns about Justice Department document releases that exposed survivors’ personal information, and about influential figures connected to Epstein who were never formally interviewed by federal investigators.
The fight: Democrats are pushing for Pam Bondi to testify publicly, under oath, and on the record. Republicans have not committed to those conditions. One survivor who has spent two decades advocating for accountability said she no longer expects full justice in the case.
Fun Facts
🏗️ Monuments: The Eiffel Tower was originally built as a temporary exhibit for the 1889 Paris World’s Fair and was meant to be torn down after 20 years. It was saved in 1909 when engineers repurposed it as a radio transmitter. One of the most recognizable towers in the world almost wasn’t.
🌍 Earth: The planet’s rotation is slowly slowing down. About a billion years ago, a day was about 18 hours long. Over time, we’re literally losing days…very slowly.
🦑 Animals: The colossal squid has eyes the size of soccer balls, the largest eyes in the animal kingdom. They’re so big because they evolved to detect faint bioluminescent flashes in pitch-black oceans.
🤯 WTF: A single lightning bolt contains enough energy to toast about 100,000 slices of bread. Storm clouds are just extremely aggressive toaster ovens.
TODAY’S QUIZ ANSWER:
Blood, toil, tears, and sweat
On May 13, 1940, Winston Churchill delivered his first address to the House of Commons as Britain’s new Prime Minister, just three days after taking office. Rather than offering reassurance, he told Parliament the road ahead would demand everything from the country, naming one aim: victory over Nazi Germany. The speech is now considered one of the most consequential political addresses of the 20th century.
Poll Results From May 12, 2026
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Show Notes
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Over and Out...
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