Modi’s yoga mastery shows Indian democracy is just a pose

Plus: Joe Rogan's debate, greedflation and more. Bloomberg This is Bloomberg Opinion Today, the notion that inflation is being driven by corporate greed, as expressed by Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - [Modi and Biden]( have dinner. - RFK Jr. has [no debate](. - [Greedflation]( has a moment. - AMLO has [peso pride](. Yogi Modi “I am unwell” is usually the first thought I have after spin class. There’s probably some psychological explanation for why I prefer my workouts be physically excruciating to the point where I wonder whether or not I will be able to walk out of the studio doors alive, but I don’t have time to find a therapist to figure out what’s wrong with me. After 45 minutes of getting berated by an instructor who is more ripped than the bag of Cheez-Its I crushed before class, I feel restored. I’ve sweated my stress away. It’s torture, but it’s torture by choice. The prime minister of India, however, prefers more soothing methods of sweating. This morning, Narendra Modi led a regenerative yoga session on the United Nations lawn to celebrate the International Day of Yoga. He participated in “breathing exercises, meditation, backbends and other poses ranging from cobra to corpse,” according to the [AP](. The event itself — which was attended by a cast of characters including the one and only [Richard Gere]( — notched a [Guinness World Record]( for participation by people of the most nationalities in a single yoga session: Strike a pose. Photographer: Christina Horsten Perhaps Modi’s inner tranquility will help him keep calm, cool and collected as he embarks on the [public portion]( of his US visit. This evening, he will [join]( President Joe Biden for an “intimate” meal at the White House before tomorrow’s state dinner — a [prestigious honor](, considering only France’s Emmanuel Macron and South Korea’s Yoon Suk Yeol got the same red-carpet [treatment](. But despite the “cheering crowds of [Indian Americans](” and “warm photo-ops,” Mihir Sharma warns that underneath the surface, things are [not as stable as they may seem]( — just like this [NYU dorm ceiling](. “India has been visibly unenthusiastic about condemning the Russian invasion of Ukraine,” he writes, also noting that “the US foreign policy establishment has belatedly woken up to India’s unwillingness to jump on any US-led bandwagon.” Bloomberg’s editorial board says [it’s no secret that Modi’s near-decade in power]( has contributed to what is often called “India’s democratic backsliding.” Under his leadership, India’s civil liberties, press freedom and minority rights have all regressed. But instead of giving Modi a lecture about Democracy 101, the editors argue that Biden must “seek to bolster India’s capacity as a balancing force,” which is probably something Modi can get behind, given his [affinity]( for yoga. One area in which the two nations can join forces is climate change. In [a special guest op-ed for Bloomberg Opinion]( today, Joseph R. Biden — yes, you read that correctly, and no, I can’t get you an autograph — writes alongside a dozen fellow world leaders including Macron, “We want a system that better addresses development needs and vulnerabilities, now heightened by climate risks, which could further weaken countries’ ability to eliminate poverty and achieve inclusive economic growth.” While India is the world’s third-largest emitter of greenhouse gases, it's also the fourth-largest producer of renewable energy, which means that it will be crucial to addressing the climate crisis. Just last week, [nearly 100 people perished]( in a heat wave in India’s two most popular states. “The people most at risk from heat waves are the poor, the old and very young, and those in isolated rural areas,” David Fickling writes, arguing that [India’s government officials must do a better job]( at measuring the influence of climate change. No amount of [tree poses]( on the yoga mat will solve the world’s climate crisis, and Modi should know that better than anyone. Bonus Modi Reading: The US must [hold Modi to his vision]( of India as the “mother of democracy.” — Pankaj Mishra Don’t Debate Me, Bro Source: @Felonious_munk via Twitter The [Titanic]( never actually sank. The boat industry has a secret [glitter addiction](. Shakespeare was [a woman](. Taylor Swift is [gay](. [Birds]( aren’t real. The list of conspiracy theories could go on forever. There are people who think these things are true, and their convictions run so deep it’s practically canon. Dismantling their positions with rhetorical skills alone is like pulling teeth. No one knows this better than Bloomberg columnist and economist Tyler Cowen, who is a [known skeptic]( of [Modern Monetary Theory](, or MMT. Instead of debating in his DMs or at the dinner table, he prefers to have his dissenters outline their claims formally so that he can push against them using peer review. So when Joe Rogan [offered to donate $100,000]( to charity if vaccine scientist Peter Hotez appeared on his podcast to [debate]( Robert F. Kennedy Jr. about the validity of vaccines, Tyler wasn’t impressed with the stunt. “As a general rule, one should not debate publicly with conspiracy theorists,” Tyler says, pointing to a multitude of debate topics that are fruitless, including crypto, artificial intelligence and, of course: vaccines. [RFK Jr.’s family]( has denounced his beliefs, arguing that his Covid misinformation campaign has resulted in “heartbreaking — and deadly — consequences.” If Kennedy’s own blood relatives can’t get him to come around to the science, in what world would a chit-chat with a vaccine scientist — his purported mortal enemy — change his mind? “Any discussion needs to start by demanding the best available documented evidence, and then subjecting it to rigorous scrutiny,” something that is “often impossible to do in a public debate, where the unverified anecdote is elevated and methodological issues are obscured,” Tyler argues. Read [the whole thing]( — and don’t ask to debate me about it. Telltale Charts Who wants to take bets that “greedflation” will soon get a formal induction into Merriam-Webster’s lexicon? [Shrinkflation]( is in there already, so it's only a matter of time. Plus, John Authers has [already written the definition]( for them: Greedflation | greed·​fla·​tion | grēd-ˈflā-shən (noun): The notion that inflation is being driven by corporate greed, as expressed by widening profit margins. Perhaps Merriam-Webster could even include this chart as an example. John says “profits as measured in the process of calculating gross domestic product (including private companies as well as firms quoted on the stock market) now make their biggest share of the economy since 1929.” Um, 1929!!?! Big yikes. If that’s not greedflation, then I don’t know what is: Mexico’s Andrés Manuel López Obrador is [obsessed with the price of the peso]( these days, now that his administration might be the first in modern history to deliver a stronger peso at the end than it started with, Eduardo Porter writes. But the president shouldn’t get too comfortable using the national currency as a barometer for his political power: “A fall in the peso can destroy a presidency”: Further Reading [Borrowing costs]( in the UK are climbing higher than a Yorkshire pudding. — Mohamed A. El-Erian Sure, AI could one day be a restaurant chef dupe. But for now, [the cooks win](. — Howard Chua-Eoan Putin’s ability to [dangle nuclear weapons]( over the world is eroding. — Leonid Bershidsky UBS’s Credit Suisse takeover has an unrelenting operational risk: [Archegos](. — Paul J. Davies A mortgage tsunami is coming for the UK. [Here’s how to dodge it](. — Marcus Ashworth [Lower-income workers]( get the short end of the Fed’s “soft labor market” stick. — Claudia Sahm ICYMI [Gas stoves]( could raise the risk of cancer. Mexico’s Supreme Court has [a Swiftie](. Instacart isn’t tolerating [rude behavior](. The US approved [lab-grown chicken](. Kickers The disturbing [monkey torture ring](. Ina Garten got [hacked]( by an Olive Garden stan. Jeff Bezos wouldn’t buy this [$29 guacamole](. But he could afford this [$100 fly](. Via @davechannel on Twitter. (h/t Mark Gilbert) Notes: Please send reasonably priced guacamole and feedback to Jessica Karl at jkarl9@bloomberg.net. [Sign up here]( and follow us on [Instagram](, [TikTok](, [Twitter]( and [Facebook](. Follow Us You received this message because you are subscribed to Bloomberg's Opinion Today newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](