Key Takeaways
- The White House has sharply criticized South Africa for its handling of the G20 summit, accusing President Cyril Ramaphosa of undermining G20 principles amidst a U.S. boycott over alleged persecution of white farmers.
- The cost of a traditional Thanksgiving meal has fallen to $55.18 for 10 people, marking a 5% decrease from last year and the lowest price since 2021, primarily driven by a 16.3% drop in turkey prices.
- The U.S. is actively weighing military options for Venezuela, including potential ground strikes and the overthrow of President Nicolás Maduro's government, with increased military presence in the Caribbean.
- Despite declining Thanksgiving costs, overall grocery prices remain 25% higher than four years ago, reflecting persistent inflationary pressures.
White House Accuses South Africa of Undermining G20 Principles
The White House has launched a strong rebuke against South Africa, accusing President Cyril Ramaphosa of "running his mouth" regarding the United States' boycott of the G20 summit held in Johannesburg on November 22-23. U.S. President Donald Trump initiated the boycott, citing unsubstantiated claims of violent persecution against white Afrikaner minority farmers in South Africa. These claims have been widely rejected.
South Africa's insistence on issuing a joint declaration from the summit, despite U.S. pressure not to, has further fueled the diplomatic rift. U.S. Secretary of State Marco Rubio previously skipped a G20 foreign ministers meeting in February, dismissing South Africa's agenda—which focused on diversity, equity, inclusion, and climate change—as unworthy of U.S. taxpayer money. While other leaders like Xi Jinping, Vladimir Putin, and Javier Milei also skipped the summit, they sent delegations to represent them in the talks.
White House Press Secretary Karoline Leavitt clarified that any U.S. representative attending the G20 would only be present at the closing ceremony to acknowledge the U.S. as the next host, not to participate in official discussions. President Ramaphosa expressed disappointment at the prospect of handing over the G20 presidency to an "empty chair" due to the U.S. boycott. Critics suggest that the Trump administration is selectively pursuing human rights targets, highlighting perceived inconsistencies in its foreign policy approach.
Thanksgiving Meal Costs Drop to Lowest Since 2021
American families can expect some relief at the dinner table this holiday season, as the cost of a traditional Thanksgiving meal has dropped sharply. The American Farm Bureau Federation's 40th annual survey reveals that the average cost for a classic Thanksgiving dinner for 10 people is $55.18, a 5% decrease from last year. This marks the third consecutive year of price declines and represents the lowest average cost since 2021.
The most significant factor driving this reduction is the 16.3% drop in the price of a 16-pound frozen turkey, which now averages $21.50, or $1.34 per pound. This decline is attributed to the rebuilding of turkey flocks following outbreaks of avian influenza, coupled with a decrease in overall consumer demand and aggressive grocery store promotions. Other staple items like stuffing mix, dinner rolls, and cranberries also saw price reductions.
However, not all items on the holiday shopping list became cheaper. The survey noted significant price increases for some components, including sweet potatoes (up 37%), veggie trays (up 61.3%), frozen peas (up 17.2%), and whole milk (up 16.3%). Despite the overall decrease, the current average cost remains below the peak of $64.05 recorded in 2022. Regionally, the South offered the most affordable meal at $50.01, while the West was the most expensive at $61.75. It's important to note that overall grocery prices remain approximately 25% higher than four years ago, reflecting ongoing supply chain challenges and inflationary pressures.
U.S. Weighing Options on Venezuela, Including Overthrowing Government
The United States is reportedly considering a range of options for Venezuela, including the potential for military intervention and the overthrow of President Nicolás Maduro's government. Sources indicate that U.S. President Donald Trump has been briefed on revised military plans, which include potential ground strikes. While no final decision has been made, President Trump is carefully weighing the risks and benefits of such a military escalation.
The U.S. has significantly increased its military presence in the Caribbean, notably deploying the USS Gerald R. Ford aircraft carrier to the region. Defense Secretary Pete Hegseth and Joint Chiefs of Staff Gen. Dan Caine have presented proposed plans, including an operation dubbed "Southern Spear," which aims to utilize advanced technological assets for counternarcotics efforts. The U.S. military has already conducted at least 21 attacks on vessels suspected of transporting drugs, resulting in the deaths of at least 80 suspected traffickers.
The Trump administration has further intensified pressure by designating "Cartel de los Soles," a group allegedly linked to Maduro, and "Tren de Aragua" as "Foreign Terrorist Organizations." Secretary Hegseth stated that these designations create "new options" for U.S. actions against Venezuela. The U.S. has also offered a substantial $50 million reward for information leading to Maduro's arrest. These actions have drawn criticism from human rights groups, who condemn the strikes as illegal extrajudicial killings. Despite the aggressive posturing, President Trump has expressed reluctance to authorize actions that could lead to failure or endanger U.S. troops, and reports suggest that the U.S. and Venezuela are engaged in discussions through Middle Eastern intermediaries.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.