Jul 21

Today’s News 21st July 2024

  • The Biden Titanic
    The Biden Titanic

    Authored by Victor Davis Hanson via American Greatness,

    Joe Biden’s escalating dementia and the long media-political conspiracy to hide his senility from the public are the least of the Democrats’ current problems.

    Biden’s track record as president may be more concerning than his cognitive decline. He has literally destroyed the U.S. border, deliberately allowing the entry of more than 10 million illegal aliens. His callous handlers’ agenda was to import abjectly poor constituencies in need of vast government services without regard for the current struggles of a battered American middle class and poor.

    The widespread poverty of a vast new cohort of illegal immigrants could serve as indictments of a “racist,” “unequal,” and “unfair” America—as if the residents of East Palestine, Ohio or inner-city Chicago had anything to do with the centuries-long corruption and oppression of Mexico and Latin America that daily drives thousands of their own poorest citizens northwards to a society founded on very different ideas than those of their homelands.

    Note that the left, neither in Mexico nor in America, never asks why millions of these impoverished people prefer to break into a supposedly racist America. Much less do they even distinguish those principles and values that once made America prosperous, free, and secure from their antitheses that have sadly made much of Latin America mostly poor, without freedom, and insecure.

    Biden inherited near-zero real interest rates and inflation at 1.4 percent. Almost immediately, in nihilistic fashion, Biden did to a sound economy what he had done to a secure border. So, he recklessly printed money at a time of spiraling, quarantine-ending demand and supply chain disruption. Middle-class wages never caught up with Biden’s inflation, as prices for key staples are nearly 30 percent higher than when he took office.

    The cost of servicing the ballooning national debt at high interest is now nearly $1 trillion per year. The world abroad is aflame, lit by Biden’s inexplicable withdrawal from Kabul, his mixed signals to Vladimir Putin on the eve of his invasion of Ukraine, his deliberate alienation of Israel, his appeasement of Iran and China, and his cuts in the defense budget, coupled with his woke war on mythical “racists” in the military.

    Energy prices soared, even as Biden’s green agenda proved unworkable and prompted draining the strategic petroleum reserve and begging foreign oil despots before key elections. The “unifier” Biden by design needlessly alienated nearly half the country, and in his debate, he reiterated why Trump supporters do not deserve his concern. And more ominously and recently, Biden grossly told hundreds of his donors that “it’s time to put Trump in a bullseye”—just days before the attempt on Trump’s life.

    The greatest absurdity of the Biden White House is the gaslighting talk of Biden’s “achievements.” Biden’s actions over the last four years are not offsets for his senility that warrant his continuance in office, but again, sadly, they serve as force multipliers, furthering claims of his dementia and for his removal.

    Joe Biden is not just non compos mentis and in a sane world, he would be subject to 25th Amendment removal. He also increasingly seems unpleasant and obnoxious, if not sometimes simply weird. To achieve momentary clarity, Biden either shouts at his audience or stoops over and whispers in an eerie fashion.

    He insults reporters and his own staff. Every few sentences, without warning, he begins screaming. His face is fixed in a permanent, angry contortion. As a result, the public sees their president as an off-putting, angry old man—and in his selfish dotage, an increasingly unsympathetic one. Even after more than 40 months of media hagiography, Joe Biden still cannot poll over a 40 percent approval rating, given that his rudeness is fueled further by the day due to escalating mental confusion.

    Biden is, to be candid, a serial prevaricator. It is not just his ad nauseam repetition of Trump’s supposed slurs—the Charlottesville “both sides” lie, the “suckers” lie, or the “bloodbath” lie. He continues to peddle absolute falsehoods like the mythical nine-percent inflation he inherited and Trump’s supposed intention to ban all abortions, or his whopper that after welcoming in 10 million illegal aliens, Biden would have had a closed, secure border if not for those selfish Republicans who, for some reason, did not trust his ridiculous eleventh-hour, election-timed immigration proposal.

    When he hammers Trump as a “convicted felon,” Biden has no clue that a majority of Americans equate that charge with Biden’s own warped lawfare assault on ancient customs, as well as a reminder that his now closest advisor is likewise a “convicted felon.”

    When Biden rants near daily about the rich “paying their fair share,” he reminds us that his son is also facing federal tax evasion charges for unreported foreign income in the millions of dollars and that as soon as Biden himself leaves office, as a recipient of the same foreign cash, he may find himself in the same legal jeopardy. So, to use a Bidenism, “how dare he” accuse affluent Americans of the very crimes that his own family is knee deep in?

    Biden’s prefaces of “no lie,” “here’s the deal,” “no kidding,” and “no joke” are little more than tics that forewarn us of complete fabrications about to follow, from the ridiculous story of an uncle supposedly eaten by New Guinea cannibals to his supposed heroics during the Civil Rights movement and his near childhood adoption by various minority communities.

    In this regard, senility served oddly as a crutch for Biden. In the past, he paid dearly for his plagiarism, cheating, racist rants, and prevarications, losing three presidential bids and earning a reputation as the empty-suit blowhard of the Senate. Now his press handlers conveniently chalk up his long-standing habitual untruth as momentary mental “confusion.”

    Given all the above, remember that Biden was to be the “savior” of the Democratic Party. To this day, celebrities demanding his withdrawal from the race throw him the bone that “he saved the country by stopping Trump”—as if no wars, stability abroad, no inflation, low interest, and low energy costs were something to fear.

    Yet Biden’s four years pale in comparison to what in 2016 might have been a Harris, Buttigieg, Warren, Booker, or Sanders candidacy or presidency. No wonder Democrats concluded that there were no viable alternatives to a cognitively challenged Biden, precisely because Biden was the only available fig leaf to the new Democratic Party and its neo-socialist agenda—that, if transparent, would have terrified the country that it was soon to nearly destroy.

    Biden’s Democratic critics have it all wrong: removing Biden is wise and needed for the country’s sake, but it will not solve the growing public anger at the left. Without the veneer of even a tottering old Joe from Scranton, there will be no camouflage. And then, the true leftist agenda will be served raw to the American people—open borders, woke/DEI racial polarization, transgendered obsessions, inflation/stagflation, wars a plenty abroad, an inert Pentagon, unaffordable energy, partial-birth abortions, and crazy ideas like packing the court and making Puerto Rico and Washington, DC, states.

    So, what is the Democratic strategy to win the 2024 election?

    Certainly, an “open” convention would not produce a moderate Democratic nominee or even a suitable replacement façade. There are no moderates in contention. If there were any hale candidates to offer cover, the party would be in permanent war with its shrill and angry woke base. Joe is the last of his generation to offer a credible front. There are no more Diane Feinsteins or Bill Clintons to package the hard-left agenda. If Harris cannot serve as Biden’s replacement, someone like her or further to the left would appear on spec.

    The Democrats have no plans to run on their record.

    Their tripartite strategy is as simple as it is tired and worn.

    • First, expect a third chapter to follow the 2016 Russian collusion caper and the 2020 laptop disinformation ruse – likely some October revelation from the administrative state’s “experts” and “authorities” that Trump is a criminal, a traitor, or a spy or plans a coup, to destroy NATO or nuke something. Perhaps there is another Access Hollywood tape, a porn star on ice, anything to avoid discussing the damage done since 2017.

    • Second, there is still a last gasp to a dying lawfare. Never underestimate the last-gasp judicial effort to inactivate, gag, bankrupt, or jail Trump, however counterproductive such attempts so far have proved.

    • Third, when all else fails, remember that in many of the swing states, 70 percent of the electorate will not be voting on Election Day and will not be presenting IDs. Millions of their ballots will be harvested or cured by third-party activists. Last time around, the leftist journalist Molly Ball bragged about their “cabal” and “conspiracy” of big money and big tech that had “saved” Americans from Trump.

    Those post-election confessions were not just high-fiving but also a confident forewarning of what is to come.

    Tyler Durden
    Sat, 07/20/2024 – 23:20

  • Eric Weinstein: "It's The Communism Stupid"
    Eric Weinstein: “It’s The Communism Stupid”

    Eric Weinstein, a former managing director of Peter Thiel’s investment firm, Thiel Capital, took to X to explain one of the most under-discussed forces shaping the current US presidential election is the perception of communism.

    Weinstein said the Democratic Party does not identify as a communist. He noted that some see elements of the party’s agenda—such as DEI initiatives, social justice movements, and progressive policies—as precursors to revolutionary Marxism. This view fuels massive support for Donald Trump by notable individuals, such as the world’s richest man, Elon Musk, and his deep network of VCs with ‘enormous checkbooks.’  

    Weinstein said the belief is that the Democratic Party, by embracing progressive causes, is inadvertently promoting a communist agenda aimed at destabilizing capitalism and the American society. This view, although not widely accepted by corporate media, is a pivotal factor in Trump’s surging support. 

    Weinstein’s X post (emphasis ours):

    One of the most important forces shaping the current US presidential election is not being sufficiently discussed: COMMUNISM.

    Because the Democratic Party does not view itself in any way as communist, you can’t have a discussion about the role that communism is playing in support for Donald Trump. How can a Wall-Street friendly party favored by large institutions be communist!?!

    Okay. Begin by just stipulating that this is true for the sake of argument whether or not you agree with it.

    For the moment, imagine that you see all DEI as Marxist and Maoist. Imagine that you see AOC and the squad as communists. Imagine that what you see in terms of ‘social justice’ or ‘wokeness’ or ‘Postmodernism’ or ‘Gender affirming healthcare’ or ‘Palestinian Genocide’ or ‘Soros open society initiatives’ or ‘progressive DAs’ or ‘Anti-Whiteness’ or ‘defund the police’ is straight up precursor to *violent* revolutionary Marxism.

    The people crossing over to the cause of Trump with enormous checkbooks see this EXACTLY the way I have described in the above paragraph. You can pretend that this isn’t so. Maybe they won’t admit it to you or do so in public. But the stark truth of it is that what is driving a lot of surprising support for Trump and the Republicans has nothing to do with either. It’s not all about Trump. Or the GOP.

    It’s about Marx, Mao, Stalin, and Lennin. It is the idea that Revolutionary Marxism is a dangerous brain cancer that is always trying to get a foothold among the weak.

    The idea that is everywhere is this: “The Democratic party of the United States thought they could play with rebranded revolutionary Marxists as if the new communism were merely a form of socially conscious pro-market, pro-democracy liberalism, when it is instead a communist Trojan horse philosophy. It has as its aim, destabilizing and destroying our culture, the United States and then the world. This isn’t a culture war. It is the takeover of the United States by hardcore revolutionary neo-marxists who have come for your newspapers, universities, public schools and your children. The leaders who think they can reach out to ‘progressive’ voters do not realize that they are dancing with a devil who will outplay them.”

    Does that sound silly to you? Great. Glad to hear it.

    And, if so, you have absolutley no idea what is being discussed by many of the world’s smartest, most powerful and most influential people. Constantly.

    Why is this confusing? Well, no one I know sees Joe Biden as communist. They don’t even see the Democratic party leadership as communist. They view the party as opportunistic and naive in thinking that Democrats can allow violent pathological revolutionaries into the big blue tent with a simple coat of blue paint and a bargain basement rebrand to ‘Deconstruct the patriarchy’ and ‘Decolonize’, ‘Defund’, and otherwise ‘Reform’ our society while quietly waiting for their real moment.

    I’m sorry if this sounds funny to some of you who can’t imagine opposing Biden for these reasons. If so, it just means you have no clue…as in ZERO…as to what is going on in a pivotal part of the shift towards Trump.

    I just wanted to bring this up because it is barely being discussed in mainstream media:

    “It’s the Communism stupid.”

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    X users responded to Weinstein’s post: 

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    Tyler Durden
    Sat, 07/20/2024 – 22:45

  • COVID Social Distancing Linked To Newborn Mortality And Preterm Births, Study Finds
    COVID Social Distancing Linked To Newborn Mortality And Preterm Births, Study Finds

    Authored by Marina Zhang via The Epoch Times (emphasis ours),

    Pandemic social distancing is linked to higher rates of preterm births and newborn deaths within one to two months, according to a new study.

    (Alena Ozerova/Shutterstock)

    In a study published Thursday in JAMA Network Open, researchers at the University of Alabama at Birmingham (UAB) evaluated over 18 million births in Alabama from 2016 to 2020, comparing prepandemic years to the period after officials enacted public health restrictions in March 2020.

    The link was not immediately apparent. However, when researchers examined neonatal mortality and preterm rates two months after social distancing was implemented in the population, they found a link between the population’s social distancing behavior and neonatal mortality and preterm births. The neonatal period includes the first four weeks of a baby’s life.

    The study evaluated the “unanticipated effects” of social distancing on infant health outcomes, senior study author Dr. Vivek Shukla, a neonatologist and assistant professor in the UAB Division of Neonatology, told The Epoch Times via email.

    The clinician-researcher said that more research is needed to get a more nuanced understanding of these associations.

    “This study shows that, on a population level, there might be delayed effects of health interventions,” he said. “Sometimes the effects of measures are not evident on the first day the measures are implemented.”

    He added that the study only evaluated how social behavior might have related to health outcomes and did not examine how COVID-19 infections could affect a mother and her child.

    Fewer Prenatal Visits

    The authors said that their findings may be related to disrupted prenatal care and pregnancy complications.

    They observed that during the pandemic, there were fewer prenatal visits and medical checkups during pregnancy, which may have been linked to social distancing behaviors in the population.

    “These appointments are important to catch and address complications that could be life-threatening to both mom and baby,” co-author Dr. Rachel Sinkey, an associate professor in the UAB Division of Maternal–Fetal Medicine, said in a press release.

    According to the American Medical Association, 81 percent of physicians surveyed in July and August 2020 reported providing fewer in-person visits than before the pandemic. The average number of in-person visits fell from 95 to 57 per week.

    Additionally, disease rates, including gestational diabetes, gestational hypertension, and induction of labor, as well as neonatal intensive-care unit (ICU) admission, were higher during the pandemic.

    The study found that neonatal mortality rates were generally lower throughout the 2020 pandemic period, but there were slight increases in neonatal mortality and preterm births after the population became more adherent to social distancing practices.

    “COVID-19 affected the health care systems globally, and many lives were lost; it is important to learn from this experience to prepare better for possible future health crises,” said Dr. Shukla.

    “We need to understand how changes in health behavior affected outcomes, whether people had limited access to care or healthy habits were altered.”

    Further Research Needed

    Since the study is only observational, no causal conclusions can be drawn from its findings.

    “The results indicate a need for more in-depth studies on the unintended effects of pandemic-related health behavior changes,” Dr. Shukla said.

    Tyler Durden
    Sat, 07/20/2024 – 22:10

  • These Are America's Biggest Gambling States
    These Are America’s Biggest Gambling States

    In 2023, the “commercial gaming industry” which includes casinos and sports betting services collectively earned more than $66 billion, a 10% jump from 2022.

    In the following graphic, Visual Capitalist’s Marcus Lu ranks the top 10 U.S. states by the amount consumers spent on gambling in 2023.

    Data for this graphic and article is sourced from the American Gaming Association.

    Which State Has the Highest Gambling Spend?

    Unsurprisingly, Nevada attracts the most gambling spending in the country at $15 billion. However, Pennsylvania and New Jersey both saw over $5 billion spent in 2023.

    The top 10 states collectively accounted for 74% of America’s total gambling spending in 2023.

    Rank State 2023 Revenue YoY Change
    1 Nevada $15.5B +5%
    2 Pennsylvania $5.9B +10%
    3 New Jersey $5.8B +11%
    4 New York $4.7B +12%
    5 Michigan $3.6B +10%
    6 Ohio $3.3B +42%
    7 Indiana $2.8B -2%
    8 Louisiana $2.7B +4%
    9 Illinois $2.5B +18%
    10 Maryland $2.5B +14%
    11 Mississippi $2.5B -4%
    12 Iowa $1.9B +1%
    13 Missouri $1.9B +1%
    14 Massachusetts $1.7B +47%
    15 Colorado $1.5B +5%
    16 Virginia $1.1B +98%
    17 West Virginia $806M +7%
    18 Rhode Island $708M +3%
    19 Florida $691M 0%
    20 Arkansas $687M +12%
    21 Kansas $588M +23%
    22 Connecticut $580M +39%
    23 Arizona $557M +15%
    24 Delaware $507M +3%
    25 Tennessee $458M +21%
    26 New Mexico $271M +3%
    27 Maine $175M +6%
    28 Oklahoma $151M 0%
    29 South Dakota $148M +3%
    30 Kentucky $112M N/A
    N/A U.S. $66.7B +10%

    Note: Figures rounded.

    The American Gaming Association notes that the commercial gaming industry grew in 32 of the 36 states they cover in their report. Only Washington D.C., Florida, Indiana and Mississippi saw their gambling spending contract.

    Meanwhile, Kentucky legalized sports betting in 2023, (full casinos are still illegal) and immediately saw more than $100 million spent in the year. Ohio, Massachusetts, Nebraska, and Maine also legalized sports betting last year.

    Land-based “traditional” casinos also had a bumper year, attracting nearly $50 billion in gambling spending, up 3% compared to 2022.

    The gambling industry’s revenues have only been growing in the last few years. Access to platforms through smartphones, the 2018 Supreme Court decision that removed restrictions on sports betting, and the pandemic, have all contributed.

    Experts point out that while gambling is “a terrible get-rich-quick scheme for individuals,” it’s a “much better one for states.” Nevada, a state with little in natural resources, is a prime example.

    If you enjoyed this article, check out Visualizing the Tax Burden of Every U.S. State which measures the percent of an average person’s income paid towards local taxes.

    Tyler Durden
    Sat, 07/20/2024 – 21:35

  • Top US General Laments 'Failure' Of Yemen Operations As Putin Mulls Arming Houthis
    Top US General Laments ‘Failure’ Of Yemen Operations As Putin Mulls Arming Houthis

    Via Middle East Eye

    The top US commander in the Middle East warned Defense Secretary Lloyd Austin that the US’s operations against Houthi fighters in Yemen are “failing” to deter the Iran-backed group from attacking international shipping, The Wall Street Journal reported on Friday.

    In a classified letter, General Michael Erik Kurilla, the head of US Central Command (Centcom), suggested the US should take a more forceful approach against the Houthis, the report said. The letter comes amid fears that Red Sea tensions could draw in Russia. 

    The WSJ cited an exclusive article published by Middle East Eye last month which revealed US intelligence agencies learned Russian President Vladimir Putin has mulled arming Yemen’s Houthis with anti-ship cruise missiles.

    US Navy/DoD file image

    MEE revealed that Putin was dissuaded from the move by Saudi Arabia’s Crown Prince Mohammed bin Salman. “Putin engaged Mohammed bin Salman who requested them (Russia) not to pursue the arrangement,” the senior US official previously told MEE.

    According to The Wall Street Journal, the Biden administration still believes Putin could pursue the arrangement and is confidently trying to stop Russia from arming the Houthis.

    Fears about the Houthis’ access to potentially more sophisticated weapons are likely to grow, following a drone attack on Tel Aviv on Monday that killed one person and injured several others. The Houthis claimed responsibility for the strike.

    Ukraine and Red Sea

    Russia’s deliberations to step up its involvement adds a new dimension to the conflict. Moscow is upset with US and European military support for Ukraine. Putin said last month that Russia is considering providing long-range missiles to third countries to hit the assets of Nato countries.

    “There is a connection between Russia’s war on Ukraine and the Red Sea,” General Frank Mckenzie, the retired commander of US Central Command, told MEE.

    But aiding the Houthis is not straightforward for Moscow, which enjoys good ties to Sunni Gulf monarchies and Iran, the Houthis main foreign backer. Saudi Arabia and the UAE launched a campaign against the Houthis after Yemen descended into civil war in 2014 amid concerns a Houthi takeover of Yemen would install Tehran’s partners at their borders.

    The Saudi-led coalition launched thousands of air strikes on Yemen which failed to dislodge the Houthis but resulted in thousands of civilian deaths and a major humanitarian crisis. The Houthis responded by lobbing missiles and drones at civilian infrastructure in Saudi Arabia and the UAE.

    Since 2022, an uneasy truce has held between the Houthis and Saudi-backed forces, but Gulf states are alarmed about rising tensions in the Red Sea. The Houthis began attacking commercial ships in November, in what they said was in solidarity with besieged Palestinians in Gaza.

    List of new Houthi targets

    The attacks have upended global trade, forcing shipping companies plying goods between Europe and Asia to take a circuitous route around Africa to avoid Houthi attacks.

    The Houthis have also struck at the core of the US’s great power projection in the region: protecting sea lanes of communication. In January, the US began striking Houthi positions in response to the attacks. MEE reported previously that Houthi fighters have been tapping commercially available maritime intelligence to draw up their target lists in the Red Sea.

    The Houthis have at times hit vessels linked to Russia and Iran, but the group has promised the countries safe passage and has made a point of trying to avoid hitting their vessels, analysts and former maritime officials told MEE.

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    But former senior US officials who spoke to MEE said that within defense circles, there have been complaints that the Biden administration has restricted the US’s ability to hit the Houthis.

    The WSJ reported that Kurilla warned in his letter that “US service members will die if we continue going this way”, as he argued for a more forceful response to Houthi attacks. The report said that Centcom has been instructed to draw up a list of expanded targets, including specific Houthi fighters.

    Houthi attacks died down during the Muslim holy month of Ramadan, but as fighting between Hezbollah and Israel intensified in June, they have increased.

    Tyler Durden
    Sat, 07/20/2024 – 21:00

  • US-Japan Patriot Missile Production Hits Snag On Shortage Of Boeing Part 
    US-Japan Patriot Missile Production Hits Snag On Shortage Of Boeing Part 

    It has become apparent since the Russian invasion and resulting multi-year war in Ukraine that America’s stockpiles of ammunition, from shells to missiles, have been dangerously depleted, and there is a massive need to upgrade and expand weapon production capacity domestically and abroad in allied nations as the world quickly fractures into an uncertain and dangerous multi-polar state.

    This munitions deficiency endangers the US’ ability to fight future wars, and American dominance under the elderly President Biden has greatly suffered. Ronald Reagan would have been disgusted by Biden’s disastrous foreign policy moves, which have only stoked more chaos worldwide. 

    If Trump becomes president for the second time, he will likely restore a sense of American dominance and exceptionalism. This means modernizing America’s Armed Forces and, most importantly, ensuring the West has enough munitions and warfighting capabilities for future wars. 

    However, a new Reuters report suggests that production snags have already been developed in Japan to boost the production of Patriot air defense missiles.

    Sources say supply chain woes have made it challenging for Japan’s Mitsubishi Heavy Industries to boost Patriot missile production from 30 to 60 per year under a license from defense contractor Lockheed Martin. 

    This could complicate the US plan to increase Patriot missile production from about 500 yearly to more than 750. Sources say the hold-up in Japan is due to a shortage of a critical component manufactured by Boeing that guides the missile to the target in the final stages of flight. 

    “It could take several years before Mitsubishi Heavy Industries is able to raise output” because of the shortage, one of the industry insiders told Reuters. 

    Last year, Boeing began expanding the capacity of the seeker technology in the US, with an annual increase of the critical component reaching about 30%. However, the new production lines won’t be operational until 2027. 

    “The production snag in Japan shows the challenges Washington faces in plugging industrial help from its global allies into its complex supply chains,” Reuters pointed out.

    Tyler Durden
    Sat, 07/20/2024 – 20:25

  • Carnegie Mellon University Prof Says Trump Assassination Attempt Was "Staged" Like "Stupid Tubi Movie Set"
    Carnegie Mellon University Prof Says Trump Assassination Attempt Was “Staged” Like “Stupid Tubi Movie Set”

    By Emma Arns of CampusReform

    A professor at Carnegie Mellon University took to social media after the assassination attempt of former President Donald Trump and suggested that the shooting was “staged,” suggesting that the shooter was part of a “stupid show.”

    Uju Anya, an associate professor of second language acquisition at Carnegie Mellon University, made the comments just hours after the attempted assassination.

    “People dying doesn’t make the attack any less staged. Someone who thought the attack was real could’ve killed others trying to prevent harm. Also, someone could’ve shot the shooter to hide the plot,” associate professor of second language acquisition, Uju Anya, tweeted.

    “Politicians kill all the time and kill many more people to steal power,” she added. “And people died behind this farce. Actual people’s lives gone for them to stage this stupid show.”

    Anya currently teaches and conducts research primarily “examining race, gender, sexual, and social class identities in new language learning through the experiences of African American students,” according to her website. 

    “It was staged. Like a stupid Tubi movie set in the Bronx with palm trees in the background,” she added.

    “They lie, and people die. That’s exactly what they do. That’s the record. Whatever ‘attack’ on him they set up to stoke his followers’ fears and sentiments, threat and persecution has now cost lives,” Anya said.

    When an X user commented “someone is dead,” Anya responded, “a dead person can’t reveal the setup.”

    Trump was grazed by a bullet Saturday at his Pennsylvania rally. The gunman was taken down by Trump’s Secret Service team, and Corey Comperatore, an attendee, was killed.

    Anya considers herself an “antiracist” a “feminist” and an ally of the LGBT+ community, as referenced in her X account biography.

    She is also the author of two books, “Racialized identities in second language learning” and “Racial equity on college campuses”.

    Campus Reform has reached out to Anya and Carnegie Mellon University for comment. This article will be updated accordingly.

    Tyler Durden
    Sat, 07/20/2024 – 19:50

  • If You're Going To Take A Bribe (You Shouldn't), At Least Get Gold
    If You’re Going To Take A Bribe (You Shouldn’t), At Least Get Gold

    Authored by Mike Maharrey via Money Metals,

    On July 16, a jury convicted Senator Bob Menendez (D-N.J.) on 16 counts, including wire fraud, bribery, and extortion.

    According to the indictment, the senator and his wife took bribes, including 13 gold bars, from New Jersey businessmen with Egyptian ties. 

    According to court documents, the Sen. and Mrs. Menendez accepted the gold, along with cash and an automobile from three prominent Egyptian businessmen in exchange for the senator’s influence. Menendez also allegedly provided “sensitive U.S. Government information and took other steps that secretly aided the Government of Egypt,” as part of the bribery scheme. 

    According to the indictment, a June 2022 raid at the couple’s New Jersey home found “over $480,000 in cash – much of it stuffed into envelopes and hidden in clothing, closets, and a safe.” Police also found two 1-kg gold bars along with 11 1-ounce gold bars.

    At the time of the indictment, U.S. Attorney Damian Williams said Menendez and his wife wielded “power and influence to protect and enrich the businessmen and benefit the government of Egypt.”

    After the conviction, Williams said, “This case has always been about shocking levels of corruption.  Hundreds of thousands of dollars of bribes, including gold, cash, and a Mercedes-Benz. This wasn’t politics as usual; this was politics for profit.”

    Menendez continues to maintain his innocence, saying he was “deeply disappointed” in the jury’s decision. 

    “I have never violated my oath. I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent,” he said.

    Menendez’s attorney claimed the cash and gold weren’t bribes but gifts to the couple in “lean times.” In his closing arguments, he asserted, “His actions were lawful, normal, and good for the country.”

    Gold: A Solid Bribe

    If you’re going to accept a bribe (and you shouldn’t) getting it in gold is the way to go.

    According to the indictment, “Multiple gold bars provided by Daibes (one of the Egyptian businessmen) were found during the court-authorized June 2022 search of the couple’s home.” It also says the senator performed a web search for “how much is one kilo of gold worth.”

    At the time of the indictment in June 2022, the spot price of gold averaged around $1,800 an ounce. Menendez received just over 81 ounces of gold in the bribery scheme. At the June 2022 price, it was worth over $145,800. 

    Here’s the kicker – gold holds its value and even appreciates over time. Unlike the $480,000 in cash Menendez received, the gold is worth a lot more today than it was then.

    Today, those gold bars are worth $200,475. That’s a 37.5 percent increase!

    Meanwhile, the $480,000 in 2022 cash is only worth $452,755 today thanks to price inflation.

    During the Republican Convention, Rep. Matt Gaetz (R-Fla.) quipped, “Inflation has gotten so bad, you can no longer bribe Democrat senators with cash alone. You have to use gold bars just so the bribes hold value.”

    Gaetz has a point. If you’re going to take a bribe (don’t), get it in gold.

    There are some other advantages of getting bribed in gold instead of dollars. It effectively packs a lot of dollars into a very small space. It’s easy to store and transport. It’s virtually impossible to destroy. Gold is also liquid. Menendez wouldn’t have had any problem selling his gold bars — if he had not gotten nailed by authorities.

    One word of caution: if you accept gold as a bribe (don’t) you should make sure the gold is real. There are a lot of shady people out there, and let’s be honest, if someone is offering you a bribe, they’re probably shady. So, you want to be careful so you don’t get scammed.

    Let me be clear: you really shouldn’t take bribes. But if you do (don’t), get it in gold. It will maintain its value over time even in this crazy world of inflation!

    Tyler Durden
    Sat, 07/20/2024 – 18:40

  • White House Mulling Sanctions On Hardline Israeli Ministers Smotrich & Ben-Gvir
    White House Mulling Sanctions On Hardline Israeli Ministers Smotrich & Ben-Gvir

    The White House has over the last several months imposed a series of sanctions against small Israeli settler groups accused of committing human rights abuses against Palestinians and of stealing land. These are so limited (largely amounting to restrictions on travel to the US) that they are largely seen as merely symbolic.

    There are new reports in Israeli media saying the Biden administration is mulling a big next step: sanctioning top Israeli government ministers who are known to encourage and support radical settler groups in the West Bank.

    Via Flash90

    The Jerusalem Post reports that Biden’s National Security Council held a meeting days ago to discuss strategies to thwart expanding Jewish settlements in the West Bank.

    Among the plans reportedly discussed was the possibility of sanctions on hardline and outspoken Netanyahu coalition ministers Bezalel Smotrich and Itamar Ben-Gvir. Not only have these two officials frequently made incendiary remarks seen as exacerbating the Gaza crisis, but they openly encourage Israelis to move in on Palestinian land.

    The two actually oversee Israeli government policy in Judea and Samaria, where some of the most extreme settler groups have a significant presence.

    Ben-Gvir and Smotrich have also regularly denounced the ‘weakness’ of Biden administration policy on the Gaza crisis in the wake of the Oct.7 terror attacks on southern Israel. 

    The have both claimed that Biden is ‘helping Hamas’:

    Finance Minister Bezalel Smotrich stated bluntly that the strong American opposition would only reinvigorate Israel’s drive to eliminate Hamas.

    “We must continue this war until victory, despite, and to a certain extent precisely because of, the opposition of the administration Biden and the stopping of arms shipments,” he said in a statement. “We simply have no other choice that does not endanger our existence and security.”

    National Security Minister Itamar Ben Gvir, a firebrand who leads the far-right Otzma Yehudit party, tweeted simply that “Hamas [loves] Biden.”

    With Prime Minister Benjamin Netanyahu expected in Washington next week, where he’ll address Congress and likely meet with President Biden, the US will more than likely not trigger a full-on diplomatic crisis with its closest regional ally by sanctioning its top ministers at this time.

    Relations have already been tense of late…

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    A possible future Trump administration would also surely reverse any possible sanctions. Trump’s team has vowed to given Israel whatever it needs to eradicate Hamas and Palestinian Islamic Jihad (PIJ) in the ongoing Gaza operations.

    Tyler Durden
    Sat, 07/20/2024 – 18:05

  • "Vast DEI Bureaucracy" Hurting U.S. Armed Forces; ASU Study Finds
    “Vast DEI Bureaucracy” Hurting U.S. Armed Forces; ASU Study Finds

    By Cameron Arcand of The College Fix

    A new Arizona State University study suggests that Diversity, Equity and Inclusion efforts in the United States military are ineffective.

    The study done by the university’s Center for American Institutions argued that there is a emphasis on training new soldiers about social issues like “unconscious bias” and “intersectionality” in a way the center says runs contrary to typical American ideals. The study examined DEI plan’s in different sector of the military, including DEI office staffing and education at academies like West Point.

    “The massive DEI bureaucracy, its training and its pseudo-scientific assessments are at best distractions that absorb valuable time and resources,” the executive summary states. “At worst they communicate the opposite of the military ethos: e.g. that individual demographic differences come before team and mission.”

    Donald Critchlow, director of the center, wrote in the introduction it was focused on looking at the influence of Critical Race Theory in the United States Armed Forces training.

    “The Commission on Civic Education in the Military began as a project to review civic education in the military. Our research team did not expect to find Critical Race Theory so embedded and pervasive. Diversity, Equity, and Inclusion programs are found throughout the U.S. Armed Forces and our service academies,” Critchlow wrote. “This year long study documents just how pervasive these training programs are in our Armed Forces and Service Academies and that DEI extends well beyond just formal training programs in the military and service academies.”

    “The Founders of our nation understood and feared a politicized military. History had shown them that a politicized army easily became the tool of tyranny. The Armed Forces of the United States has proudly upheld this long tradition of separating mission from politics,” he continued.

    In terms of recommendations, the study suggests that DEI offices be completely scrapped, but said it may be politically unlikely for the time being.

    “The surest way to eliminate the concerning trends we have identified, and the growth of race and sex-based scapegoating and stereotyping in the U.S. military, is to altogether end the DEI bureaucracy there,” the study states. “However, until such a time as the executive or legislative branches of the government choose to end the DEI bureaucracy in our federal agencies and military, we are left to advocate the pursuit of alternative avenues that may affect positive change despite existing policies.”

    They also suggested the military prioritize civic education with a focus on “America’s commitment to freedom and opportunity.”

    The study comes as some branches of the military continue to struggle with recruiting new service members.

    Tyler Durden
    Sat, 07/20/2024 – 17:30

  • Bangladesh Issues 'Shoot-On-Sight-Order' As Deadly Student-Led Protests Spiral
    Bangladesh Issues ‘Shoot-On-Sight-Order’ As Deadly Student-Led Protests Spiral

    Weeks-long protests in Bangladesh led by students have descended into increasing violence amid severe economic woes and a new controversial law widely seen as unfairly rewarding supporters of Prime Minister Sheikh Hasina’s Awami League party with lucrative government jobs.

    Since early June, campus-based protests have called for a complete shutdown of the country until the new policy is repealed. A High Court ruling at the start of the summer came down in favor of a quota system which secures 30% of government jobs for family members of veterans who fought in Bangladesh’s 1971 war of independence from Pakistan.

    Getty Images

    The student protesters have demanded a system based on merit. A series of initially peaceful university protests resulted in increasingly chaotic scenes and clashes with police, resulting in casualties. From there protests have grown nation-wide.

    Deaths among protesters have grown into the dozens, with the police reporting casualties as well. Some reports say over 100 demonstrators have died and that this figure is climbing by the day.

    Communications have been intermittently disrupted for the nation of 170 million people as authorities desperately try to gain control of the situation.

    Authorities have also escalated, as of Saturday allowing security forces to use live-fire to put down protests:

    Police imposed a strict curfew with a “shoot-on-sight” order across Bangladesh as military forces patrolled parts of the capital Saturday after scores were killed and hundreds injured in clashes over the allocation of civil service jobs.

    The curfew began at midnight and was relaxed from noon to 2 p.m. for people to run essential errands, and is expected to last until 10 a.m. Sunday, allowing officers to fire on mobs in extreme cases, said lawmaker Obaidul Quader, the general secretary of the ruling Awami League party.

    Police and military checkpoints have been set up in the streets of the capital Dhaka in order to enforce the curfew.

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    It’s essentially a state of martial law, with one eyewitness saying, “The public is anxious as people didn’t expect the army to be deployed. But some people are also relieved because there is a great deal of respect for the army in Bangladesh.”

    And an Al Jazeera correspondent has described, “There are a lot of ordinary people who are supporting the students. There’s a great degree of frustration in the country right now and many people don’t accept this government and feel like the prime minister came to power by force.”

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    The government has meanwhile accused opposition parties of stoking the unrest, and has condemned the destruction of property and further pointed out some 300 police officers have been injured.

    Tyler Durden
    Sat, 07/20/2024 – 16:55

  • "Many Educators Portrayed Trump As An Existential Threat. Moving Forward, A Narrative Shift Is Essential"
    “Many Educators Portrayed Trump As An Existential Threat. Moving Forward, A Narrative Shift Is Essential”

    By Jared Gould of Minding the Campus

    American Education: Public, Popular, And Polarizing

    We may never know what motivated Thomas Matthew Crooks to become Trump’s would-be assassin, but as we seek answers, we must recognize the role educators across the country have played in perpetuating a discourse that fuels animosity and normalizes political violence. Specifically, many educators have portrayed Trump as an existential threat to America. Moving forward, a narrative shift is essential.

    Days before the attempted assassination, retired Seattle teacher Michael McSweeney penned an editorial in the The News Tribune, expressing concern that Trump may win the presidency again, issuing a dramatic “apology” to former students, admitting he had misled them about the U.S. government’s checks and balances. “I lied to you because I never could have imagined one person as evil and dangerous as Trump could ever be elected president,” McSweeney wrote, echoing the ideological stance many educators have taken since Trump rode the golden escalator.

    In 2016, when I was a freshman history student at the University of Southern Mississippi, professor Dr. Tyler used her lecture on World War II to draw a comparison between Trump’s “Make America Great Again” slogan and Hitler’s rhetoric, alleging that Hitler said, “Make Germany Great Again.” How could impressionable students interpret this intellectually dishonest comparison as anything other than equating Trump with an evil dictator?

    This sentiment wasn’t unique to my college in South Mississippi.

    A year later, College Fix reported that University of Southern California professor Charles H.F. Davis defended controversial tweets that included obscenities directed at President Donald Trump and calls for the destruction of “whiteness” and the “white supremacist heterosexist patriarchy.” Davis, then an assistant professor and Chief Strategy Officer at the USC Race and Equity Center, argued that Trump’s rhetoric and policies embody oppressive systems. His Twitter background photo showed a black woman shooting a pig dressed in a police uniform.

    Even after the horrific events of this past weekend, this rhetoric persists. 

    Louise A. Kelly, an associate professor of exercise science at California Lutheran University, posted on Facebook her hope for another assassination attempt, even wishing to assassinate Trump herself. Stacey Patton, an associate professor at Morgan State University, wrote that she hoped the attempt was successful and argued that killing Trump would be justified because “Republicans are racist”—minorities did incredibly well under the Trump administration.  

    The same rhetoric surfaced in Crooks’s neck of the woods. In 2019, a Pennsylvania middle school teacher had to apologize to parents after assigning homework in which students pretended to be refugees amid a scenario where President Trump was attempting to seize control of the country.

    Without a doubt, this education has profoundly warped the minds of young people everywhere.

    A young TikTok user recorded herself screaming into her phone, angry that Crooks missed. In an interview by Timecast News another seemingly young woman, who claimed to be born in the Soviet Union and has a hammer and sickle tattoo on her shoulder, says, “It’s a shame the person missed.” Others have recorded themselves summoning John Wilkes Booth, whose spirit might help a future assassin. 

    This should surprise no one. Educators have contributed, in the most inappropriate ways, to our political discourse. If anything, the attempt on Trump’s life is a clear wake up call that educators must change their tone.

    Amidst dangerous rhetoric and ideas, educators should uphold our republic’s principles. Political differences and passionate debates should not escalate to violence; instead, educators should inspire civil discourse, respectful disagreement, and peaceful solutions.

    I hope the trail ahead is better. 

    Tyler Durden
    Sat, 07/20/2024 – 16:20

  • Speaker Johnson Threatens To Arrest Lawmakers Who Disrupt Netanyahu's Congress Speech
    Speaker Johnson Threatens To Arrest Lawmakers Who Disrupt Netanyahu’s Congress Speech

    Israel Prime Minister Benjamin Netanyahu is set to address Congress at the invitation of Republicans on July 24. Several Democratic lawmakers have announced their intent to boycott the speech, citing what they say are ongoing human rights abuses and war crimes by the Israeli military (IDF) in Gaza.

    Additionally, this week 230 anonymous staff members have signed a letter urging a Congressional protest or boycott. According to The Hill, this includes staff from Republican congressional offices as well… “across 122 Democratic and Republican offices,” it says. The letter was organized by the Congressional Progressive Staff Association.

    House Speaker Mike Johnson has put the body on notice, threatening to arrest anyone who is protesting or displaying unruly behavior. 

    Via AP

    “There are a number of Democrats in the House who have said they’re going to boycott that event. Some others may protest,” Johnsons told an audience of the Republican Jewish Coalition on the sidelines of the Republican National Convention in Milwaukee earlier this week.

    “We’re going to have extra sergeants at arms on the floor. If anybody gets out of hand… We’re going to arrest people if we have to do it,” he added.

    As for the Congressional Progressive Staff Association’s letter, it reads as follows: 

    “Citizens, students, and lawmakers across the country and the world have spoken out against the actions of Mr. Netanyahu in his War on Gaza,” the letter says.

    “Israelis have been protesting in the streets for months, decrying his failure to negotiate a ceasefire and release of hostages. We hope you will join your fellow Members of Congress in protest at his speech or in refusing to attend it.”

    There are some 100 members of the Congressional Progressive Caucus in the House and Senate, and the majority or even all of them are expected to boycott or possibly protest the speech. The Council on American-Islamic Relations (CAIR), the country’s largest Muslim civil rights organization, have called on Congressional security officers to refuse Johnson’s directive.

    In the wake of Johnson’s crackdown threat, some pundits have highlighted that he’s a big recipient of funds from America’s foremost Israeli lobby…

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    It remains an open question whether Netanyahu will meet with President Biden, given especially his Covid diagnosis amid the full-blown White House crisis of his staying the course and running again. 

    Biden is meanwhile under pressure to show some serious progress in Doha-sponsored peace talks. On Friday there are once again claims that the two sides are at the “goal line” of reaching a deal, but similar headlines have been echoed on and off again for months. 

    About 120 hostages remains in Hamas and Islamic Jihad (PIJ) captivity, and Netanyahu too has faced immense domestic pressure to achieve a ceasefire deal and gain freedom for the captives. 

    Tyler Durden
    Sat, 07/20/2024 – 15:45

  • Gov. Pritzker's Role In The Extreme Rhetoric Surrounding Donald Trump
    Gov. Pritzker’s Role In The Extreme Rhetoric Surrounding Donald Trump

    By Ted Dabrowski and John Klingner of Wirepoints

    The language of politics is nasty and in recent years it’s become extreme. Many even link the assassination attempt on Donald Trump to the rhetoric that’s enveloped this presidential election. We won’t go that far, as vile language does not equal assassination attempts and free speech deserves to be fiercely protected, no matter how offensive it may get between politicians.

    But what can’t be ignored is the damage done to the social fabric of the nation by the name-calling that condemns massive swaths of the American population as racist, fascist or a “threat to our country,” which our own governor is guilty of doing. In the last two years, Gov. J.B. Pritzker has increasingly betrayed his own ideology of “inclusiveness” with a growing attack on nearly half the country. His vitriol has become destructive.

    Gov. Pritzker is a leading voice in today’s Democratic Party and a major surrogate for President Biden and his own messaging. Pritzker’s words matter. When he calls Trump a “threat to our democracy” and accuses him of fascism and authoritarianism, Pritzker knows he’s effectively labeling the 70 million-plus MAGA Republicans the same because of their support for Trump. It’s not the name-calling itself that matters, but rather the impact such language has on the left. Pritzker is telling his half of the country there should be and can be no compromise, no cooperation with the other “fascist” half. It’s polarizing to the extreme.

    Pritzker’s rhetoric became more extreme when he began hinting at presidential ambitions. During his first presidential preview speech in New Hampshire, he remarked: “Let me be clear, I loathe Donald Trump. Every stump speech I delivered in my 2018 campaign began with ‘Everything we care about is under siege by a racist, misogynist, homophobic xenophobic president.’” The crowd cheered, and since then he’s upped his rhetoric even further.

    Pritzker’s latest speeches and tweets go so far as to call Trump a “threat to the nation” as well as declare “right wing extremism” a threat to “our democracy and our freedoms.” Today, the governor is the Democrats’ main attack dog, if the New York Times headline “This Top Democrat Is Leading His Party’s Attack on Trump as a Felon,” is any indication.

    Pritzker’s personal attacks against Trump have escalated to tying MAGA to fascism. Just last year, the governor told listeners at the Illinois state fair: Illinois Democrats have done more in the last five years to push back on the wave of authoritarian, anti-democratic MAGA Republican nonsense than in any other place in the country…leave it to us to raise the tallest flag in the fight against modern American fascism.” 

    Pritzker also accused MAGA Republicans of stirring up hatred after his Chicago home was vandalized in October of last year: “The divisions across the country, which are being fomented by the MAGA Republicans led by their MAGA Republican leader Donald Trump, are causing people to feel that there’s a hatred, that it’s okay to act upon if they disagree with you on an issue.” 

    Even disagreements on policy issues are now an existential threat to democracy. Think Big America, Pritzker’s national abortion-rights organization, declared “Far-right extremism” – defined as “being against abortion” now “threatens our democracy and our freedoms.” 

    And Trump himself is a “threat” to the country, according to Pritzker: “Donald Trump is a racist, a homophobe, a grifter and a threat to this country. He can now add one more title to his list — a felon.”

    Pritzker has been relentless. Just a month before the fateful Trump rally in Pennsylvania, the governor tweeted his longest list of invectives yet: “Donald Trump is a convicted felon, an adjudicated rapist, and a congenital liar. He’s a racist, sexist, misogynistic narcissist who wants to use the levers of power to enrich himself and punish anyone who dares speak a word against him.”

    The attempted assassination has caused the Democratic Party and Gov. Pritzker to pull their punches – at least for now. They’ve canceled a planned series of attack ads that were set to run during the Republican National Convention. And Pritzker’s own planned appearance in Milwaukee has also been scrubbed.

    The peace won’t last long. Gov. Pritzker’s national image – and his potential hopes for the presidency – are too closely entwined with his anti-Trump crusade for him to abandon it for long. 

    In fact, the governor was already back to the personal insults just three days after the assassination attempt:

    “I have never, and never would call for any political violence. And you can take that to the bank. That’s not anything that I’ve ever advocated. I think that there’s always hot competition in the world of ideas, in the political world. And so we all advance our own ideas and when their ideas are bad ones, we call them out.

    But it’s still true that Donald Trump is a convicted felon, an adjudicated rapist, has been a congenital liar and is unfit for the office of President of the United States.”

    Not even an assassination attempt can temper Gov. Pritzker. That’s quite revealing.

    Tyler Durden
    Sat, 07/20/2024 – 15:10

  • Trump Tells Zelensky He'll "Bring Peace" In "Very Good Call"
    Trump Tells Zelensky He’ll “Bring Peace” In “Very Good Call”

    Former President Trump has again declared he will “bring peace” following a rare phone call with Ukrainian President Volodymyr Zelensky on Friday, which comes as world leaders prepare for a likely second Trump administration. 

    Trump in a readout hailed it as a “very good phone call” wherein Zelensky congratulated him on a “very successful” Republican National Convention and becoming the Republican nominee for US President.

    Zelensky during the call condemned the “heinous” assassination attempt which targeted Trump, slightly wounding his ear, and praised American unity in the aftermath.

    Trump apparently pushed a theme of the urgency of negotiations to end the war with Russia in the call:

    “I appreciate President Zelenskyy for reaching out because I, as your next President of the United States, will bring peace to the world and end the war that has cost so many lives and devastated countless innocent families,” Trump wrote.

    “Both sides will be able to come together and negotiate a deal that ends the violence and paves a path forward to prosperity.”

    Zelensky similarly shared on X that he wished the former president and Republican nominee “strength and absolute safety in the future.”

    “I noted the vital bipartisan and bicameral American support for protecting our nation’s freedom and independence,” Zelensky said. “Ukraine will always be grateful to the United States for its help in strengthening our ability to resist Russian terror.”

    He also said he agreed with Trump to at some point discuss “at a personal meeting what steps can make peace fair and truly lasting.” In general, the Ukrainian side liked what it heard, and responded positively, per Politico:

    A person close to Zelenskyy who requested anonymity to discuss the private conversation said it went “exceedingly well” and that Trump pledged to “achieve a just peace in Ukraine” if he wins back the White House.

    Zelensky and his top officials within the last year have excoriated peace proposals and statements coming from Trump and his team, earlier strongly suggesting Trump is naive. The Ukrainian leader has more than once even invited Trump to come to his war-ravaged country in order to “see for himself” the nature of Russia’s war there.

    NATO at the same time has sought to “Trump-proof” the alliance’s long-term funding commitments to Ukraine, on fears that Washington support could soon drastically pull back. Trump has in the past blamed Biden’s weak standing on the world stage for allowing the Russian invasion to happen in the first place.

    Tyler Durden
    Sat, 07/20/2024 – 14:35

  • Putting The National Debt Into Perspective We Can All Understand
    Putting The National Debt Into Perspective We Can All Understand

    Authored by Mike Maharrey via Money Metals,

    The federal government ran another big deficit in June, as the national debt inches closer to $35 trillion.

    $35 trillion USD.

    Trillion with a ‘T.’ 

    That’s an unfathomable number. It’s meaningless to most people. We simply can’t comprehend a number that big.

    Let’s try to put the $34.9 trillion national debt into perspective.

    According to the National Debt Clock, every American citizen would have to write a check for $103,565 to pay off the national debt. 

    Of course, a lot of people don’t pay taxes. That means the taxpayer burden is much higher. Every U.S. taxpayer would have to write a check for $266,953 to wipe out the debt.  And that’s on top of the taxes we already pay!

    To put it another way, $35 trillion is more than the total economies of China, Japan, Germany, and the UK combined.

    Visualizing 1 Trillion

    1,000,000,000,000

    It’s hard to wrap your head around how big 1 trillion is, much less 35 trillion. Here are a few factoids to help you visualize just how big that number is:

    • There are 1 million seconds in 11.5 days. A trillion seconds is about 32,000 years. 
    • If you could say one number every second, it would take about 11.5 million days to count to 1 trillion. 
    • If you had spent $1 million every day since the birth of Christ, you still wouldn’t have spent $1 trillion.
    • If you line up dollar bills end-to-end, you could go to the moon and back around 203 times with $1 trillion. You could wrap them around the earth about 3,893 times.
    • If you stacked up 1 trillion dollar bills, the dollar tower would rise to 67,866 miles.
    • If a cup of coffee costs $3, you could buy 333 billion cups of coffee with $1 trillion. 
    • If you had 1 trillion dollars, you could give every person on Earth approximately $125.
    • One trillion grains of rice would weigh about 20,000 metric tons. 

    Keep in mind that all of these examples only illustrate the size of $1 trillion. The national debt is nearly 35 times that number.

    James Madison once called a large national debt a “public curse.”

    “I go on the principle that a Public Debt is a Public curse and in a Rep. Govt. a greater than in any other.”

    We’re certainly cursed to the tune of $35 trillion USD.

    Thomas Jefferson said he considered “public debt as the greatest of the dangers to be feared.”

    In his Farewell Address, George Washington urged us to use debt sparingly – and, get this, actually pay it off as quickly as possible!

    “As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible, avoiding occasions of expense by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it.”

    We failed to heed the warning of the Anti-federalist writer Brutus.

    “I can scarcely contemplate a greater calamity that could befall this country, than to be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction.”

    And here we are.

    Tyler Durden
    Sat, 07/20/2024 – 14:00

  • Israeli Jets Strike Houthi-Controlled Port City Following Tel Aviv Drone Attack
    Israeli Jets Strike Houthi-Controlled Port City Following Tel Aviv Drone Attack

    For the first time since the Israel–Hamas war erupted last October, the Israeli military has deployed fighter jets to strike Iran-backed Houthi rebels in Yemen. This action follows an incident where the rebels penetrated Tel Aviv airspace with a kamikaze drone (also for the first time) on Friday, resulting in the death of one civilian. 

    Huthi official Mohammed Abdulsalam posted on social media that a “brutal Israel aggression against Yemen” had just occurred. He noted that the airstrikes hit “fuel storage facilities and a power plant” in the Yemeni port of Hodeida “to pressure Yemen to stop supporting” Palestinians in the Gaza war. 

    Footage of the attack has surfaced on X by early Saturday afternoon. 

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    Axios reports US and Israeli officials confirmed the Israeli Air Force strikes in retaliation for the Houthi drone strike in Tel Aviv on Friday morning, killing one and wounding eight more. We noted that this Houthi drone strike risked “sparking escalation of warfare between Yemen’s Houthis, Hezbollah, and the State of Israel.”

    “This attack makes it crystal clear to the Houthis and Iranians that strategic, energy-linked economic targets are fair game in retaliation for attacks on Israeli strategic locations like Tel Aviv,” Scott Modell, CEO of Rapidan Energy Group, tells us. 

    Modell points out, “The Houthis are really taking a big risk because any tankers who supply them will now be in the crosshairs for retaliatory attacks by Israel. The US & NATO allies will continue to do practically nothing.” 

    Mario Nawfal on X points out that Israel destroyed Yemen’s main port: 

    Israeli airstrikes on Hodeidah port reportedly killed dozens and crippled the Houthis’ ability to unload containers. Hodeidah port is a crucial lifeline for Yemen, handling 70% of the country’s imports, including vital humanitarian aid. This strategic blow aims to disrupt supplies and intensify pressure on Yemen.

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    Axios cited a senior Israeli official who said the strike on the port was ‘purely Israeli action.’ 

    “This was a targeted operation at the port of Hodeida. We carried out the strike after many months of restraint in the face of Houthi attacks that included the firing of dozens of items, including surface-to-surface missiles,” the official said.

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    Furthermore, Houthis have been increasing their aerial and surface drone attacks on the critical maritime chokepoint in the southern Red Sea, which has disrupted global shipping, sending the capacity of containers lower while pushing freight costs higher. The Biden administration’s Operation Prosperity Guardian has failed to secure the maritime route so far.  

    Sigh… 

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    *This story is developing. Please check back for updates. 

    Tyler Durden
    Sat, 07/20/2024 – 13:30

  • Court Blocks Ariz. Illegals From Registering To Vote… Until September
    Court Blocks Ariz. Illegals From Registering To Vote… Until September

    Authored by Jacob Burns via Headline USA,

    A voting sign points voters in the right direction to drop off early ballots in Phoenix. / PHOTO: AP

    In a decision released Thursday, the 9th Circuit Court of Appeals determined that illegal immigrants were not allowed to vote in Arizona.

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    However, the ruling will apply only through the primary elections, Votebeat Arizona reported.

    With an appeals court scheduled to hear the case in September, it leaves open the possibility that the Gov. Katie Hobbs’s outrageous election-law loophole to let illegals vote in federal races may yet be reversed ahead of the Nov. 5 general election, with little time left afterward to seek additional remedy.

    The current Arizona law inexplicably requires proof of citizenship for state elections but not for federal ones. With Democrats currently in control, recent advertisements actively encouraged illegal immigrants to fill out applications for ballots, warning them that without ID they would only be sent the federal ballot.

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    The 9th Circuit’s temporary stay requires those registering to vote in the state have to provide proof of citizenship for federal elections as well.

    The Circuit Court in any case reversed the decision of a lower court, which had argued that the National Voter Registration Act preempted the need for proof of citizenship with respect to voting in federal elections in particular, even if the State of Arizona could still require it for state and local elections.

    Arizona State Senate President Warren Petersen said the ruling was a victory for those who care about free and fair elections.

    “Only U.S. citizens should be allowed to vote in our elections,” he wrote in response.

    “It sounds like common sense, but the radical left elected officials in our state continue to reject this notion, disrespecting the voices of our lawful Arizona voters.”

    According to Petersen, however, the only way to adequately address the issue in the long run is for the United States Congress to act.

    “We are grateful the court is upholding this provision in our law, and it’s time for Congress to take action to ensure only lawful U.S. citizens are voting in federal races,” he concluded.

    Not all were pleased with the ruling. Progressive Arizona election lawyer Jim Barton called the ruling “bad news,” because it may mean lower voter turnout if only citizens can vote.

    Tyler Durden
    Sat, 07/20/2024 – 12:50

  • We Are On The Edge
    We Are On The Edge

    Submitted by QTR’s Fringe Finance

    At the beginning of the year, I not only laid out 24 stocks that I would be watching for the year based on what I thought the macro environment would do, but I also detailed gold and miners as what I would buy if I had to narrow things down to one trade only.

    It’s been a great first six months for this potential trade, with the VanEck Gold Miners ETF (GDX) up about 24% and the SPDR Gold Shares (GLD) ETF up about 19%, roughly the same as spot gold which opened January at $2062 and now sits over $2470.

    I was reading the news last night and, taking into account how odd trading in the market has been over the last two sessions, I presented myself with the same question:

    If I had to put on one trade right now for the rest of the year and narrow it down to one position, what would I do?

    I think the answer is simply that it would be long volatility or long the VIX in some way right now. Not only are we simply due for an enormous spike in the VIX, but there’s also no shortage of catalysts that can make it happen over the next six months, in my opinion.

    We took the next step in the President Joe Biden freak show yesterday when, just six hours after President Biden said he would consider dropping out of the race if a medical condition emerged, he “coincidentally” announced that he had tested positive for COVID-19 later in the evening. Then, despite testing positive, Biden was seen walking around without a mask on. And you guys wonder why I write entire articles dedicated to the Democratic party’s inability to finesse their strategies…

    Regardless, after a week or two of Biden appearing as though he may have once gaian firmed up his grip on the nomination, especially given the news regarding Trump’s assassination attempt usurping the news cycle, it once again appears as though his party is turning on him.

    Politico was out with an article yesterday saying that the Democratic Party, led by Nancy Pelosi, is ‘convinced Biden will lose’. Democratic leaders like Pelosi, Adam Schiff, Chuck Schumer, and Hakeem Jeffries are all now reported to have suggested that Biden step aside. And, in a crucial difference, headlines started to break late last night and early this morning that Biden was “receptive” to the idea and had queried his team as to whether or not Vice President Airhead had a better shot of beating Donald Trump in the general election than he did

    Also politically, although I have publicly encouraged otherwise, the temperature surrounding the Donald Trump assassination attempt continues to have everybody in the country on guard.

    With five months left until the election, it is only common sense to believe that other “surprise” political news could emerge. Except, this time when it does, the country will already be in a heightened state of alert due to the events of the last week. This makes it more likely than normal that we would see volatility related to the upcoming election, in my opinion.

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    On top of that, the stock market as a whole is starting to show signs of weak knees, as I’ve been predicting would happen as a result of interest rate hikes for the better part of the last two years. One sign of approaching volatility in markets isn’t always that stocks go down quickly, but that they sometimes swing wildly both up and down—something we saw this week after the Dow 700+ points in one day, only to see tech stocks collapse the most since 2022 in the next session.

    The rotation from technology to industrial stocks and boring value stocks that I talked about just days ago in my portfolio review appears to be taking place. Check out the 6% divergence all of a sudden over the last two sessions.

    Either way, this volatility in markets could continue not only as a result of said rotation, but also eventually as a result of the economy’s gears locking up and high-interest rates finally wreaking havoc. As we get closer and closer to the first rate cut, I continue to believe that this could be the ultimate “sell the news” event and could mark the beginning of a large correction in equity markets.

    As a reminder, all of this is taking place at a time when the country has unsustainable levels of debt, a growing deficit, out of control spending and is entering a period of fiscal dominance.

    On top of the election and the market, all of the standard risks I pointed out at the beginning of the year remain in place: you have President Biden creating turmoil by restricting Chinese chip manufacturers, we still have an emerging conflict between China and Taiwan, Israel is still engulfed in its conflict in the Middle East, and Ukrainian President Volodymyr Zelenskyy is still begging the United States for more money to perpetuate the country’s non-stop conflict with Russia.

    Finally, we still have a wildcard with the BRICS nations potentially challenging the US dollar, and one of our closest allies in the dollar, Saudi Arabia, drifting away from the petrodollar. This is a catalyst that would likely take years to develop to a point where it would have a meaningful impact, but in my opinion, the gears are whirring away in the background, and just because we can’t see the consequences yet doesn’t mean that we should ignore this potential seismic change in progress.

    For me, it’s just a numbers game. If I had to look at the trade that has the “most ways to win,” I’m not sure anything else right now has a better setup than being long volatility. Since COVID, the VIX has been trading systematically lower and lower while markets have done nothing but go higher and higher, both in defiance of a very risky macro environment. We are so overdue for a “CNBC anchor meltdown style market move lower” that it hurts.

    QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author. This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. These positions can change immediately as soon as I publish this, with or without notice. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

    Tyler Durden
    Sat, 07/20/2024 – 11:40

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Jul 20

Today’s News 20th July 2024

  • The Ballot Or The Bullet
    The Ballot Or The Bullet

    Authored by Michael Kochin via American Greatness,

    Saturday’s attempted assassination of President Trump killed one rallygoer, a father of two who died shielding his children from the assassin, and critically wounded two others. President Trump miraculously escaped with a slight wound in one ear, and in the photo of the century, he stood up from under the swarm of secret service agents, literally bloody but unbowed, raised his right hand in a fist, and mouthed, “Fight! Fight! Fight!”

    Some of Mr. Trump’s partisan critics attacked Mr. Trump’s “violent rhetoric.”

    Of course, none of them squawked when President Biden said on Monday before the attack that “we’re done talking about the debate, it’s time to put Trump in a bullseye.” 

    We do not know, and may never know, whether the murderer perceived that he was simply following an order from his Commander in Chief.

    It is time to man up, stop blaming others, and figure out what we ourselves have done or not done that made this attack and the inciting rhetoric that led to it possible. The hard truth is that it is our weakness, not our extremism or our own “violent rhetoric,” that invited this attack.

    The regime media from the top down, in The New York Times, The Washington Post, and The New Republic, on television and on social media, have repeatedly called Mr. Trump a fascist, compared him to Hitler, and called for his elimination from the race by any means necessary.

    We know that nothing Mr. Trump did or said, and nothing we, his partisans, have done or said, can be called the true cause of this kind of talk. We know that because the same outlets said the same kinds of things about other Republican leaders, from Thomas Dewey to Mitt Romney.

    Democrats talk this way about Republicans because they are not afraid of the consequences of talking that way. The party that banned God from the schoolroom and forbade public worship has no fear of God, who sees and punishes the deceitful, and has no fear of us. They believe, correctly, that they can, without fear of us, delegitimize elections by effectively licensing fraud and intimidation of voters, and that they can turn mobs on synagogue-goers and conservative speakers. Too many Democrats live their lives in media, public “service,” nonprofit or academic echo chambers in which everyone either amens such transgressions or is silenced by fear of violence or corporate HR.

    Ignore the hysterics about “violent rhetoric.” Politics is about violence, about the control and deployment of the force of the community for the ends of the community. Free and fair elections, free discussion, and even the right of the people to peaceably assemble come not from rhetorical or actual disarmament. These necessary features of free government come from a balance of terror that produces mutual fear and, thus, mutual respect.

    Sadly, in western countries, including the United States, that balance of terror does not exist. MAGA may have guns, but our anti-populist, that is to say anti-democratic rivals, have the secret police, the intelligence services, and, when necessary, Antifa, the stormtroopers of the woke capital, ever ready at the nod of the authorities or the regime media to target peaceful opposition.

    We who fear God have to be better than them, but that also means we have to be at least as frightening as them.

    As Malcolm X said sixty years ago, it is always and everywhere “the ballot or bullet.” 

    It is better to fight it out with violent rhetoric and ballots than with bullets, but that is only possible, Malcolm X explains, as long as every side fears what their rivals could do should they become enemies.

    Yes, my friends, we have to fight. We have to fight for the right to speak and to be heard, for the right to rally for our candidates and our beliefs, and for the right to wear a red hat in every corner of this great land.

    The only way that we can maintain our right to fight this “campaign” without resorting to actual violence is to frighten our rivals into refraining from violence, even when they know that the media and “authorities” will take their side.

    In this struggle, there is no substitute for courage, but there is also no substitute for brains about when and how to show fight. Our situation is not yet desperate, and to make sure it never becomes so, we must manifest both menace and discipline.

    Tyler Durden
    Fri, 07/19/2024 – 23:40

  • Distraction? Blinken Says Iran Just 1-2 Weeks Away From Producing Material For A Nuclear Weapon
    Distraction? Blinken Says Iran Just 1-2 Weeks Away From Producing Material For A Nuclear Weapon

    A well-timed distraction? Or is it real this time? The White House says Iran is on the verge of being nuclear weapons capable. 

    US Secretary of State Antony Blinken announced Friday that the Islamic Republic will have enough enriched uranium for producing fissile material to achieve a nuclear weapon within just “one or two weeks.”

    “Iran, because the nuclear agreement was thrown out, instead of being at least a year away from having the breakout capacity of producing fissile material for a nuclear weapon, is now probably one or two weeks away from doing that,” Blinken said at a forum in Colorado.

    Via AFP

    He did add a caveat, saying there’s as yet no evidence Iran is actively pursuing a nuke at this point; however, the timing is interesting given the White House crisis of Biden’s reelection bid, as well as the fact that Israeli Prime Minister Benjamin Netanyahu is set to address Congress next week.

    “What we need to see, if Iran is serious about engaging, is actually pulling back on the work that it’s been doing on his program,” Blinken continued.

    “Second, we have been maximizing pressure on Iran across the board. We’ve imposed more than 600 sanctions on Iranian persons and entities. We haven’t lifted a single sanction,” he said.

    And yet the irony here is that clearly the sanctions haven’t worked. While Biden and Democrats in general had long ago been frequent critics of Trump’s prior “maximum pressure” campaign, in reality little has changed. 

    Blinken still touted the Biden admin’s record on Iran at the Aspen Security Forum, describing, “When this administration came in, we tried to pursue again, nuclear diplomacy with Iran, because if you could at least take one problem off the board, which is Iran potentially with a nuclear weapon, that’s inherently a good thing.”

    The White House says it has still been wielding a big stick, particularly in light of the Gaza crisis and the prior Israeli massive attack on the Iranian embassy in Damascus which sent tensions spiraling. 

    Axios reported earlier this week that the Biden admin’s behind the scenes pressure campaign has yielded limited results: 

    • The U.S. officials said the Iranians came back with a response that included explanations for these nuclear activities, stressing there has been no change in policy and they are not working on a nuclear weapon.
    • The exchange of messages and other information obtained by the U.S. and Israel addressed some of the concerns and somewhat eased anxieties over the Iranian research and development activities, U.S. and Israeli officials said.
    • A U.S. official said that the message the U.S. sent to the Iranians was effective, but added there are still significant concerns about the Iranian nuclear program.

    Iran has grown bolder in its declarations of late, and so all of the above doesn’t actually sound like “effective” diplomacy.

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    Without doubt, Iranian leadership is watching the US presidential race closely, given that a potential future Trump administration will be stacked with Iran hawks, as was the first.

    Israel has meanwhile vowed preemptive attack if its intelligence believes Tehran is bent on developing a nuke, and if it is on the threshold. At the same time, critics of Netanyahu have alleged his hawkish position is rooted in political survival, like with his hardline Gaza policies.

    Tyler Durden
    Fri, 07/19/2024 – 23:15

  • The Ascendance Of Sociopaths In US Governance
    The Ascendance Of Sociopaths In US Governance

    Authored by Doug Casey via InternationalMan.com,

    An International Man lives and does business wherever he finds conditions most advantageous, regardless of arbitrary borders. He’s diversified globally, with passports from multiple countries, assets in several jurisdictions, and his residence in yet another. He doesn’t depend absolutely on any country and regards all of them as competitors for his capital and expertise.

    Living as an international man has always been an interesting possibility. But few Americans opted for it, since the U.S. used to reward those who settled in and put down roots. In fact, it rewarded them better than any other country in the world, so there was no pressing reason to become an international man.

    Things change, however, and being rooted like a plant – at least if you have a choice – is a suboptimal strategy if you wish to not only survive, but prosper. Throughout history, almost every place has at some point become dangerous for those who were stuck there. It may be America’s turn.

    For those who can take up the life of an international man, it’s no longer just an interesting lifestyle decision. It has become, at a minimum, an asset saver, and it could be a lifesaver. That said, I understand the hesitation you may feel about taking action; pulling up one’s roots (or at least grafting some of them to a new location) can be almost as traumatic to a man as to a vegetable.

    As any intelligent observer surveys the world’s economic and political landscape, he has to be disturbed – even dismayed and a bit frightened – by the gravity and number of problems that mark the horizon. We’re confronted by economic depression, looming financial chaos, serious currency inflation, onerous taxation, crippling regulation, a developing police state, and, worst of all, the prospect of a major war. It seems almost unbelievable that all these things could affect the U.S., which historically has been the land of the free.

    How did we get here? An argument can be made that things went bad because of miscalculation, accident, inattention, and the like. Those elements have had a role, but it is minor. Potential catastrophe across the board can’t be the result of happenstance. When things go wrong on a grand scale, it’s not just bad luck or inadvertence. It’s because of serious character flaws in one or many – or even all – of the players.

    So is there a root cause of all the problems I’ve cited?

    If we can find it, it may tell us how we personally can best respond to the problems.

    In this article, I’m going to argue that the U.S. government, in particular, has been overrun by the wrong kind of person.

    It’s a trend that’s been in motion for many years but has now reached a point of no return. In other words, a type of moral rot has become so prevalent that it’s institutional in nature. There is not going to be, therefore, any serious change in the direction in which the U.S. is headed until a genuine crisis topples the existing order. Until then, the trend will accelerate.

    The reason is that a certain class of people – sociopaths – are now fully in control of major American institutions.

    Their beliefs and attitudes are insinuated throughout the economic, political, intellectual, and psychological/spiritual fabric of the U.S.

    What does this mean to you, as an individual? It depends on your character.

    Are you the kind of person who supports “my country, right or wrong,” as did most Germans in the 1930s and 1940s? Or the kind who dodges the duty to be a helpmate to murderers? The type of passenger who goes down with the ship? Or the type who puts on his vest and looks for a lifeboat? The type of individual who supports the merchants who offer the fairest deal? Or the type who is gulled by splashy TV commercials?

    What the ascendancy of sociopaths means isn’t an academic question. Throughout history, the question has been a matter of life and death. That’s one reason America grew; every American (or any ex-colonial) has forebears who confronted the issue and decided to uproot themselves to go somewhere with better prospects. The losers were those who delayed thinking about the question until the last minute.

    I have often described myself, and those I prefer to associate with, as gamma rats. You may recall the ethologist’s characterization of the social interaction of rats as being between a few alpha rats and many beta rats, the alpha rats being dominant and the beta rats submissive. In addition, a small percentage are gamma rats that stake out prime territory and mates, like the alphas, but are not interested in dominating the betas. The people most inclined to leave for the wide world outside and seek fortune elsewhere are typically gamma personalities.

    You may be thinking that what happened in places like Nazi Germany, the Soviet Union, Mao’s China, Pol Pot’s Cambodia, and scores of other countries in recent history could not, for some reason, happen in the U.S. Actually, there’s no reason it won’t at this point. All the institutions that made America exceptional – including a belief in capitalism, individualism, self-reliance, and the restraints of the Constitution – are now only historical artifacts.

    On the other hand, the distribution of sociopaths is completely uniform across both space and time.

    Per capita, there were no more evil people in Stalin’s Russia, Hitler’s Germany, Mao’s China, Amin’s Uganda, Ceausescu’s Romania, or Pol Pot’s Cambodia than there are today in the U.S. All you need is favorable conditions for them to bloom, much as mushrooms do after a rainstorm.

    Conditions for them in the U.S. are becoming quite favorable. Have you ever wondered where the 50,000 people employed by the TSA to inspect and degrade you came from? Most of them are middle-aged. Did they have jobs before they started doing something that any normal person would consider demeaning? Most did, but they were attracted to – not repelled by – a job where they wear a costume and abuse their fellow citizens all day.

    Few of them can imagine that they’re shepherding in a police state as they play their roles in security theater. (A reinforced door on the pilots’ cabin is probably all that’s actually needed, although the most effective solution would be to hold each airline responsible for its own security and for the harm done if it fails to protect passengers and third parties.) But the 50,000 newly employed are exactly the same type of people who joined the Gestapo – eager to help in the project of controlling everyone. Nobody was drafted into the Gestapo.

    What’s going on here is an instance of Pareto’s Law. That’s the 80-20 rule that tells us, for example, that 80% of your sales come from 20% of your salesmen or that 20% of the population are responsible for 80% of the crime.

    As I see it, 80% of people are basically decent; their basic instincts are to live by the Boy Scout virtues. 20% of people, however, are what you might call potential trouble sources, inclined toward doing the wrong thing when the opportunity presents itself. They might now be shoe clerks, mailmen, or waitresses – they seem perfectly benign in normal times. They play baseball on weekends and pet the family dog. However, given the chance, they will sign up for the Gestapo, the Stasi, the KGB, the TSA, Homeland Security, or whatever. Many seem well intentioned, but are likely to favor force as the solution to any problem.

    But it doesn’t end there, because 20% of that 20% are really bad actors. They are drawn to government and other positions where they can work their will on other people and, because they’re enthusiastic about government, they rise to leadership positions. They remake the culture of the organizations they run in their own image. Gradually, non-sociopaths can no longer stand being there. They leave. Soon the whole barrel is full of bad apples. That’s what’s happening today in the U.S.

    It’s a pity that Bush, when he was in office, made such a big deal of evil. He discredited the concept. He made Boobus americanus think it only existed in a distant axis, in places like North Korea, Iraq and Iran, which were and still are irrelevant backwaters and arbitrarily chosen enemies. Bush trivialized the concept of evil and made it seem banal because he was such a fool. All the while, real evil, very immediate and powerful, was growing right around him, and he lacked the awareness to see he was fertilizing it by turning the U.S. into a national security state after 9/11.

    Now, I believe, it’s out of control.

    The U.S. is already in a truly major depression and on the edge of financial chaos and a currency meltdown.

    The sociopaths in government will react by redoubling the pace toward a police state domestically and starting a major war abroad. To me, this is completely predictable. It’s what sociopaths do.

    *  *  *

    A big part of any strategy to reduce your political risk is to place some of your savings outside the immediate reach of the thieving bureaucrats in your home country. Obtaining a foreign bank account is a convenient way to do just that. That way, your savings cannot be easily confiscated, frozen, or devalued at the drop of a hat or with a couple of taps on the keyboard. In the event capital controls are imposed, a foreign bank account will help ensure that you have access to your money when you need it the most.

    In short, your savings in a foreign bank will largely be safe from any madness in your home country. Despite what you may hear, having a foreign bank account is completely legal and is not about tax evasion or other illegal activities. It’s simply about legally diversifying your political risk by putting your liquid savings in sound, well-capitalized institutions where they’re treated best. We recently released a comprehensive free guide where we discuss our favorite foreign banks and jurisdictions, including, crucially, those that still accept Americans as clients and allow them to open accounts remotely for small minimums. New York Times best-selling author Doug Casey and his team describe how you can do it all from home. And there’s still time to get it done without extraordinary cost or effort. Click here to download the PDF now.

    Tyler Durden
    Fri, 07/19/2024 – 22:50

  • Illegal Alien TikToker Who Urged Migrants To Invade US Homes Reportedly Worked For Venezuela's Military Intel
    Illegal Alien TikToker Who Urged Migrants To Invade US Homes Reportedly Worked For Venezuela’s Military Intel

    Millions of Americans were disgusted when they learned earlier this year that an illegal alien used TikTok to inform other migrants how to “invade” unoccupied homes across America and take advantage of progressive squatter laws. 

    We noted at the time, “The Marxist destruction of private property rights is on full display after a viral video circulating TikTok, then posted on X, shows a migrant informing other migrants how to “invade” unoccupied …” 

    Remember this idiot? 

    https://platform.twitter.com/widgets.js

    The good news is that in March, Immigration and Customs Enforcement officers arrested the illegal alien who goes by the name “Leonel Moreno.” 

    And now, time for the bad news: Since Moreno’s arrest, US intel officers have found the illegal alien was a sergeant in Venezuela’s military intelligence unit before he invaded the US southern border, the New York Post reports, citing a Homeland Security source.

    It’s believed Moreno illegally entered the US through Eagle Pass, Texas, on April 23, 2022, and was released into the country with no proper vetting. He intentionally skipped check-ins with ICE. 

    Here’s more from NYPost: 

    Information from foreign countries is often hard to come by for border agents trying to protect the country from potential threats.

    When it comes to Venezuela, the task is nearly impossible because the government there is unwilling to communicate with US authorities, several Border Patrol sources have told The Post.

    The issue with Moreno is that many others like him are still running amok across this nation, unvetted and lost by the incompetent federal government overseen by the Biden administration. This risk has been repeatedly highlighted by former President Trump, Elon Musk, and many others who have warned Biden’s disastrous open southern border policies are flooding the nation with military-aged men. 

    Meanwhile, we were the first to report in early March about the Iranian assassin roaming the US and possibly plotting assassination attacks against former and current government officials. This is still a very real and active threat. 

    Tyler Durden
    Fri, 07/19/2024 – 22:25

  • The Quiet Power And Influence Of Timothy Mellon
    The Quiet Power And Influence Of Timothy Mellon

    Authored by Austin Alonzo via The Epoch Times (emphasis ours),

    The largest donor of the 2024 election cycle is also, arguably, the most mysterious.

    Timothy Mellon stands outside an inspection train during a property tour in 1981. (AP Photo)

    Since the beginning of 2023, no one has given more to political causes than Timothy Mellon. Through the first five months of 2024, Mr. Mellon gave more than $115 million to various Republican candidates for federal office and conservative causes.

    Brendan Glavin, deputy research director at money-in-politics watchdog OpenSecrets, told The Epoch Times what makes Mr. Mellon’s millions so odd is the apparent lack of desire for attention attached to the gifts.

    “When you are making these contributions … it gives you access, it makes you a player,” Mr. Glavin said of the typical so-called megadonor. “It creates a situation where you know people are going to cater to you because they want your money.”

    Despite this, Mr. Mellon can only be found in donor records.

    The recipients of his money and his associates often decline to speak about the 81-year-old investor, who apparently lives close to Saratoga, Wyoming. He’s hard to reach. Even biographers writing about his influential family can’t get a word from him.

    The Epoch Times attempted to reach Mr. Mellon through his publisher, a public relations firm who represented him in the past, associates who said they read his book, the Mellon family foundation, and through organizations he regularly supports.

    Old Money

    Timothy Mellon is an heir to the Mellon family fortune. Forbes estimates the entire group of descendants of Irish immigrant Thomas Mellon is worth more than $14.1 billion.

    The family’s wealth dates back to the 19th century and its name is attached to companies such as The Bank of New York Mellon Corp. and institutions such as Carnegie Mellon University. Timothy Mellon’s grandfather, Andrew Mellon, and his father, Paul Mellon, were instrumental in the foundation of the National Gallery of Art in Washington.

    As the U.S. treasury secretary, Andrew Mellon served from 1921 to 1932 under Republican Presidents Warren Harding, Calvin Coolidge, and Herbert Hoover.

    Timothy Mellon founded a privately held transportation company—Guilford Transportation Industries—in 1981, which acquired several New England-area railways. In 1998, Guilford paid $24.5 million for the name and assets of the airline Pan American World Systems and renamed itself Pan Am Systems. In 2020, that company was purchased by CSX Corp. for an undisclosed amount.

    Mr. Mellon also sat on the board of The Andrew W. Mellon Foundation from 1981 to 2002. Maggie Slowey, a spokeswoman for the foundation, told The Epoch Times, “Neither Tim Mellon nor any other family member has any current connection to the Foundation nor have they, in recent years, played a significant role in the Foundation’s giving strategy or day-to-day operations.”

    Mr. Glavin said Mr. Mellon is the only eight-figure political donor of this cycle to come from so-called old money. Most others, he said, have made their fortunes as investors or entrepreneurs relatively recently.

    Liberal commentator and former U.S. Secretary of Labor Robert Reich has called Mr. Mellon “the poster child” for the perils of generational wealth in America.

    Businessman and politician Andrew Mellon (1855–1937) (3rd L) poses in a group photo along with other American lawyers and politicians following a meeting at the White House in 1923. Mr. Mellon served as the U.S. treasury secretary from 1921 to 1932. (Keystone View Company/FPG/Archive Photos/Getty Images)

    “Timothy Mellon … is the product of a tax system pioneered by his grandfather that allows the perpetuation of dynastic wealth and the maintenance of its political power,” Mr. Reich wrote on his blog in February.

    Representatives of Mr. Reich did not respond to a request for comment from The Epoch Times.

    Silent Partner

    In 2024, Mr. Mellon is drawing attention for simultaneously bankrolling the presidential campaigns of former President Donald Trump and independent candidate Robert F. Kennedy Jr.

    On May 31, the day after the 45th president and presumptive Republican presidential nominee was convicted of multiple felonies in New York, Mr. Mellon sent a $50 million check to Make America Great Again Inc., the super political action committee (PAC) that’s backing former President Trump’s campaign.

    Representatives of MAGA Inc. declined to comment, citing the group’s policy not to comment on donors.

    Mr. Glavin said the $50 million contribution was one of the largest in American history. Donor records indicate it is the biggest single gift of Mr. Mellon’s federal giving career.

    Mr. Mellon’s May donation brought his overall support for MAGA Inc. since the beginning of 2022 to $76.5 million, according to Federal Election Commission (FEC) records. He is currently the PAC’s biggest individual sponsor.

    Federal records show Mr. Mellon also gave $20 million to the Trump-supporting super PAC America First Action Inc. in 2020.

    Additionally, since the beginning of 2023, Mr. Mellon has donated $25 million to American Values 2024. The hybrid PAC is helping Mr. Kennedy. Mr. Mellon is also the biggest individual backer of the PAC.

    Democrats see this connection as clear evidence that Mr. Mellon is backing Mr. Kennedy exclusively to foil President Joe Biden’s reelection effort. In a March release, Alex Floyd, the Democratic National Committee’s Rapid Response Director, called RFK Jr. a “stalking horse to help Trump return to the White House.”

    Mr. Glavin agreed with the Democratic analysis, saying he believes the funding is a “tactical move” to help former President Trump’s chances in November.

    Former President Donald Trump stands on stage at a rally in Philadelphia on June 22, 2024. (Jim Watson/AFP via Getty Images)

    In a May 26 interview with host Brian Tyler Cohen, Mr. Kennedy said he’d met Mr. Mellon twice.

    “Here’s what I believe from talking to Tim Mellon: I think Tim Mellon would prefer me to be president,” Mr. Kennedy said in the interview. “If I’m not going to be president, then he would prefer President Trump to President Biden.”

    Deep Mellon–Kennedy Connections

    The Mellon family’s links to the Kennedys stretch back to the 1960s.

    According to author Meryl Gordon’s 2017 book, “Bunny Mellon: The Life of an American Style Legend,” Timothy Mellon’s mother, Rachel “Bunny” Mellon, was a friend of Robert F. Kennedy Jr.’s uncle President John F. Kennedy. Bunny Mellon redesigned the White House Rose Garden during his presidency.

    Ms. Gordon told The Epoch Times that Mr. Mellon declined to be among the hundreds interviewed for the book.

    Much of what is known about Mr. Mellon comes from a self-published 2016 autobiography, “panam.captain,” that is no longer publicly available. Skyhorse Publishing is due to publish a new version of “panam.captain” in July.

    At some point after June 2020, when The Washington Post published an article claiming Mr. Mellon used “racial stereotypes to describe African Americans,” the book was scrubbed from the internet. The Epoch Times cannot independently verify the newspaper’s claims about the book’s content.

    According to screenshots of the book’s website captured when it was still live, “panam.captain” could be purchased with a donation to groups apparently picked by Mr. Mellon. None of the groups Mr. Mellon solicited donations for—Hillsdale College, the Pan Am Historical Foundation, and Landmark Legal Foundation—responded to a request for comment from The Epoch Times.

    Since its foundation in 2006, the New York-based imprint has published numerous books by and about Mr. Kennedy and others associated with the non-profit organization Children’s Health Defense. Skyhorse’s “panam.captain” will feature a quote from Mr. Kennedy on its front cover.

    President John F. Kennedy (C) and his family pose for a photo after he won the presidential election, at Hyannis Port, Mass., on Nov. 9, 1960. The Mellon family’s links to the Kennedys were established back in the 1960s. (Hulton Archive/Getty Images)

    Skyhorse President Tony Lyons co-founded American Values. In FEC filings, Mr. Lyons is listed as the group’s treasurer.

    Furthermore, three of the six reviewers of “panam.captain,” listed on the Skyhorse website, are connected to either Children’s Health Defense or American Values. Mr. Kennedy, the group’s founder; Mary Holland, the group’s CEO; and Gavin de Becker, founder of private security firm Gavin de Becker & Associates, all provided quotes in praise of Mr. Mellon and the book.

    According to federal records, Mr. de Becker is the second-largest sponsor of American Values behind Mr. Mellon. His firm is also providing security for Mr. Kennedy during his presidential run. As of the end of May, Mr. de Becker had sent $14 million to American Values since the beginning of 2023.

    “These pages reveal Tim Mellon’s open-mindedness in action—and show that it’s possible to resist tribalism,” Mr. de Becker’s review said.

    Mr. de Becker declined to comment further about Mr. Mellon. Representatives of Children’s Health Defense and the Kennedy campaign did not respond to a request for comment from The Epoch Times.

    The Power of Money

    According to donation data collected by OpenSecrets and shared with The Epoch Times, Mr. Mellon has donated about $239 million to federal and state political causes since he began giving in 1990.

    Most of the money went to Republican candidates or conservative causes; $22,800 has gone to Democrats or liberal causes; and about $25 million has gone to Mr. Kennedy’s American Values 2024.

    Records show Mr. Mellon did not begin to make significant contributions until 2018.

    After his presidential donations, Mr. Mellon’s most significant contributions have gone to the Congressional Leadership Fund and the Senate Leadership Fund. Since 2018, Mr. Mellon sent a combined $75 million to the funds.

    Both are conservative PACs helping Republicans win seats in the House and Senate.

    Representatives of the Congressional Leadership Fund and Senate Leadership Fund did not respond to a request for comment from The Epoch Times.

    In August 2021, Mr. Mellon reportedly donated about $53.1 million in stock to the state of Texas to aid in Republican Gov. Greg Abbott’s effort to build a wall along the U.S. southern border. The state is building the border wall as part of Mr. Abbott’s Operation Lone Star.

    Texas Gov. Greg Abbott tours the U.S.–Mexico border at the Rio Grande in Eagle Pass, Texas, on May 23, 2022. Mr. Mellon in August 2021 donated about $53.1 million in stock to Texas to aid in the governor’s effort to build a wall along the U.S. southern border. (Allison Dinner/AFP via Getty Images)

    According to the operation website, as of July 2, the state had collected about $55.4 million in donations specifically for the border wall project.

    The report about Mr. Mellon’s border wall donation was initially published by the Texas Tribune Inc., a 501(c)(3) nonprofit organization headed by Sonal Shah. Ms. Shah is a former member of the Obama administration and former leader of Pete Buttigieg’s 2020 presidential campaign. Mr. Buttigieg is now the Secretary of Transportation.

    Mr. Abbott’s office declined to comment on Mr. Mellon’s reported donation. Instead, it directed The Epoch Times to file a public records request. On July 16, the open records division of Mr. Abbott’s office sent documents to The Epoch Times that confirmed Mr. Mellon had donated stock worth about $52.7 million in August 2021.

    In 2022, Mr. Mellon sent about $29 million to eight different PACs backing Republican Senate candidates. Most of his chosen candidates were not successful and the Democratic Party retained control of the chamber in the mid-term election.

    The increase in Mr. Mellon’s giving matches up with what Mr. Glavin of OpenSecrets described as an “explosion” in the amount of money a handful of extremely wealthy people are injecting into American politics.

    A 2020 report published by OpenSecrets summarizing the effect of the Supreme Court’s 2010 ruling on Citizens United vs. FEC found that total super PAC spending increased from $62 million in 2010 to $822 million in 2018. The decision is often credited with creating super PACs that can accept and spend unlimited amounts of money, given that they do not directly interact with political campaigns or candidates.

    The same report found that donations from the top 1 percent of the wealthiest Americans accounted for 96 percent of super PAC funding in 2018.

    Mr. Glavin said most Americans don’t know who the big donors are that channel money into competitive races.

    Donors get access to politicians, Mr. Glavin said. Those who give the most get the most. However, only the people with the money and the people with the power know precisely how much influence donors may have on politicians.

    “They don’t always have to necessarily ask for something because they’ve already chosen the candidate that they know agrees with them,” Mr. Glavin said.

    Tyler Durden
    Fri, 07/19/2024 – 22:00

  • Leftists Prove They Are Zealots In The Wake Of Trump Shooting
    Leftists Prove They Are Zealots In The Wake Of Trump Shooting

    The response by a large portion of the political left to the attempted assassination of Donald Trump has revealed a disturbing ideological madness – A dedication to lies and delusions that goes deep into the realm of zealotry.  It’s something that thousands of commentators have warned about over the years.  The general public has long denied the claim as being “reactionary” and many thought conservatives were exaggerating. Recent events prove otherwise.

    What else would you expect from the same group of people that can’t define what a woman is?  The same people that think sexualized drag performances and graphically sexual picture books are a good idea for young children in public schools?  The same people that engaged in years of violent rioting because of the death of a hardcore criminal and fentanyl addict who happened to be black?  The same people that supported medical authoritarianism and mass censorship during the covid pandemic? The same people that claimed “stagflation was transitory”?  The people that bought into the Russiagate hoax, refused to believe that Hunter Biden’s laptop was real and denied Joe Biden’s steep cognitive decline? 

    This zealotry continues to be exposed through their response to the attempted assassination of Donal Trump.  The narrative in the media is that now is the time for “cool heads” and calm, yet, at the same time they are working diligently to peddle the conspiracy that the plot was staged by Trump himself.

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    The envy from Joy Reid is transparent – The leftists are furious about that iconic photo and they wish they could diminish it somehow.  They aren’t honest enough to say “Hey, I don’t like Trump’s policies, but that moment was ballsy.” 

    She seems to be asserting that Trump trusted a sniper enough to barely miss his face so that he could get a great photo.  This would mean that the plan was for Trump to fake an ear injury with hundreds of people and cameras around him, and that the shooter would have to fire close enough to his head to make it believable, hitting three bystanders and killing one of them in the process. And of course, most of Trump’s Secret Service security team and local police would have to be in on the plot, not to mention the photographer.

    Keep in mind, there’s no evidence to support any of this and the leftists suggesting the conspiracy are the same people who argued that conservatives should “follow the science” during the pandemic lockdowns.  When it comes to leftists and Trump, reason goes completely out the window and their true insanity shines through.  Those that aren’t entertaining conspiracies about the shooting are simply enraged that the shooter missed. 

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    Why are these people like this?  One could assume they’ve always been this way – Zealots with a pure hatred for anyone that contradicts their ideology and Trump happens to be a convenient magnet for their animosity.  Then again, it’s more likely that they have been radicalized by the very media that’s calling for conservatives to “calm down” after the attack, not to mention the Biden Administration.  Remember this speech painting MAGA Republicans as monsters ready to tear down “democracy”?

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    When leftists are referred to as “useful idiots” it’s important to understand what that means.  It means that they are willing to say anything and do anything to further a cause which, in the end, doesn’t even benefit them.  It means they have ascended to a dangerous level of incompetence; a world in which reason and logic have no meaning and everything they do to win is emotionally justified. 

    Tyler Durden
    Fri, 07/19/2024 – 21:35

  • The REPO Act: A Precursor To The Dollar's Downfall
    The REPO Act: A Precursor To The Dollar’s Downfall

    Authored by Nick Giambruno via InternationalMan.com,

    In the wake of Russia’s invasion of Ukraine in 2022, the US government has launched its most aggressive sanctions campaign ever.

    The US government and its allies froze around $300 billion of the Russian central bank’s reserves—the nation’s accumulated savings.

    It was a stunning illustration of the political risk associated with the US dollar and Treasuries. It showed that the US government could deny access to another sovereign country’s reserves at the flip of a switch.

    Recently, President Joe Biden signed the REPO Act into law.

    It allows the US government to seize frozen Russian state assets and transfer the funds to Ukraine.

    The US dollar and Treasuries have become weaponized in a way they had not before. They are now clearly not neutral assets worthy of forming the bedrock of the international financial system but political tools for Washington to coerce others.

    The rising political risk attached to Treasuries has made them even less attractive as a store of value. It’s now apparent to everyone that dollars are only dollars as long as you don’t upset the US government.

    Many countries are undoubtedly wondering if the US government will seize their savings if they run afoul with Washington.

    China is one of the largest holders of US Treasuries, and it indeed took note of what is happening.

    Since 2022—when the US froze Russian state assets—China has sold about 25% of its Treasuries, an enormous change in such a short period.

    In the first three months of 2024 alone, China dumped a record $53 billion worth of US Treasuries.

    Further, China has increasingly ditched the US dollar in international trade. For example, over 90% of the $240 billion in trade between Russia and China is done outside of the dollar in yuan and ruble.

    At the same time, China and Russia have been on a gold buying spree to make their economies and financial systems more resilient to US sanctions.

    China is the world’s largest producer and buyer of gold. Russia is number two. Most of that gold enters the Russian and Chinese governments’ treasuries.

    Russia has over 75 million ounces of gold, one of the largest stashes in the world. Nobody knows China’s exact amount of gold—Beijing is notoriously opaque—but most observers believe it is even larger than Russia’s stash.

    Even if we take China’s official gold statistics—which almost certainly understate reality—Beijing’s gold holdings have soared by 17% in the past 17 months to around 73 million ounces.

    China’s recent gold buying spree unsurprisingly coincides with the US seizure of Russian assets in the wake of the Ukraine conflict and their dumping of US Treasuries.

    Conclusion

    Treasuries have been the bedrock of the international financial system ever since President Nixon severed the dollar’s last link to gold in 1971.

    However, the US government’s seizure of Russian state assets was a fundamental change to this system, signaling the end of an era.

    The fiat US dollar can be either a neutral reserve asset or a political tool Washington wields. It cannot be both.

    After 2022, Russia, China, and everyone else saw that the international financial system centered on the US dollar was over.

    That is terrible news for the US dollar, which was already in big trouble as it is becoming clear the Fed is trapped in ever-increasing debasement.

    Ray Dalio is one of the world’s most successful hedge fund managers. His success is due to his consistent ability to get the Big Picture right. He recently said this:

    “The indicators of when a fiat currency is going to decline and to collapse, is when those holdings its debt sell the debt and the government, the central bank, has to print money to buy that debt in large size while the currency is going down. Those are the most important indicators.”

    In short, I believe we are on the verge of a paradigm shift as gold replaces Treasuries as the base layer asset—the bedrock—of the international financial system.

    The last time the international monetary system experienced a paradigm shift of this magnitude was in 1971.

    Then, gold skyrocketed from $35 per ounce to $850 in 1980—a gain of over 2,300% or more than 24x.

    I expect the percentage rise in the price of gold to be at least as significant as it was during the last paradigm shift.

    That’s because this coming gold bull market could be fundamentally different from other cyclical bull markets. It will be riding the wave of a powerful trend: the re-monetization of gold as the king store-of-value asset. It could lead to the biggest gold bull market ever.

    While this megatrend is already well underway, I believe the most significant gains are still ahead.

    That’s precisely why I just released an urgent report on where this is all headed and what you can do about it… including three strategies everyone needs today. Click here to download the PDF now.

    Tyler Durden
    Fri, 07/19/2024 – 21:10

  • Russia Says 'Let's Be Realistic' About Chances Of Trump Ending Ukraine War
    Russia Says ‘Let’s Be Realistic’ About Chances Of Trump Ending Ukraine War

    Authored by Dave DeCamp via AntiWar.com,

    On Thursday, Russian Foreign Ministry spokeswoman Maria Zakharova said she noted comments from former President Donald Trump and his running mate J.D. Vance about ending the war in Ukraine but said Moscow needed to be “realistic” about the prospect.

    “We saw the statements — Trump said he would resolve the conflict within 24 hours, then Vance said that China is a bigger problem for the United States than the Russia-Ukraine conflict,” she said, according to Reuters.

    Image source: Bloomberg

    “It’s necessary to separate pre-election rhetoric from statements by government officials vested with the appropriate powers. If we talk about whether it’s possible to resolve the conflict, let’s be realistic,” she added.

    Zakharova pointed out that during the previous Trump administration, the president and some of his advisors made statements about bringing peace to the Middle East.

    “They prepared for the ‘deal of the century’ for quite a long time, but it did not end in anything, and under Biden, on the contrary, a colossal historical tragedy happened,” she said.

    Russian President Vladimir Putin has also noted Trump’s comments about ending the war in Ukraine and said he took them “seriously” but said he’s not familiar with any concrete proposals put forward by the former president.

    In an interview with The New York Times last month, Vance outlined some ideas for a potential peace plan.

    “What I would like to do … is you freeze the territorial lines somewhere close to where they are right now. That’s number one. Number two is you guarantee both Kyiv’s independence but also its neutrality. It’s the fundamental thing the Russians have asked from the beginning,” he said. “And then three, there’s going to have to be some American security assistance over the long term. I think those three things are certainly achievable, yes.”

    Vance wants the US to wind down its support for Ukraine so it could focus more on building up in the Asia Pacific and arming Taiwan.

    “The thing that we can control now is making it costly for [China] to invade Taiwan, and we’re not doing that because we’re sending all the damn weapons to Ukraine and not Taiwan,” he told the Times.

    Tyler Durden
    Fri, 07/19/2024 – 20:45

  • Zuck Praises Trump As An American "Badass"
    Zuck Praises Trump As An American “Badass”

    Authored by ‘Sundance’ via TheConservativeTreehouse.com,

    My, how quickly the winds can change [or do they]. 

    Previously in order to assist his ideological travelers, specifically Barack Obama, Mark Zuckerberg gave the DNC a $500 million ballot harvesting operation as a gift in 2020.  It was one of the most obvious examples of election fraud facilitated.

    Fast forward a full election cycle, the installed 2020 outcome, Joe Biden, is on the ropes and being isolated, ridiculed and marginalized -in part- by the same network of ideological travelers (i.e. the Obama network). 

    When asked if he was going to participate in funding the goals and objectives of the political apparatus in 2024, Zuckerberg announced his intention to stay out of the game of influence, he would not be endorsing “any political candidate.” 

    He then went further saying what he witnessed in the assassination attempt of President Trump, “was one of the most badass things I ever witnessed in my life.” 

    WATCH:

    Not only does this put the DNC at a deficit for their ballot harvesting operation; on the other side of the coin billionaire Elon Musk has pledged $45 million per month to help the RNC counteract the ballot harvesting operation of the DNC.

    President Trump is well positioned to win the 2024 presidential election.  However, nothing can be taken for granted and all efforts must be maximized to ensure a secure election and get every element of the Trump movement out to vote.

    On a smaller point, I had noted earlier this year (see tweet below) that perhaps Mark Zuckerberg is not quite as severe a leftist as the tribe around him.

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    I was told by people close to Zuckerberg that he is much more of a right-leaning independent thinker than everyone thinks.

    Tyler Durden
    Fri, 07/19/2024 – 20:20

  • These Are America's 'Most Trustworthy' News Organizations In 2024
    These Are America’s ‘Most Trustworthy’ News Organizations In 2024

    America’s trust in the media has plateaued over the last few years with only around one-in-three Americans saying they trust the news.

    Visual Capitalist’s Marcus Lu visualizes the percentage of Americans who trust (or distrust) various news organizations. Importantly, this is not an exhaustive list of media brands.

    Data is sourced from a 2024 YouGov survey commissioned by the Reuters Institute for the Study of Journalism.

    ℹ️ More than 2,000 nationally representative Americans were asked to rate a brand’s trustworthiness on a scale of 0–10. Responses that picked 0–4 were coded as “don’t trust;” similarly 6–10 were coded as “trust.” The middle number, 5, was categorized as “neither.”

    CNN & Fox Are the Most Divisive News Outlets

    Local TV stations and newspapers are still Americans’ most trusted news organizations, despite the gutting of local news outlets over the last decade.

    Brand Trust Neither Don’t Trust
    📺 Local television news 62% 21% 17%
    📰 Local newspapers 58% 24% 18%
    🅰️ ABC News 52% 20% 28%
    🌍 BBC News 52% 25% 23%
    📺 CBS News 52% 20% 28%
    🗽 New York Times 50% 20% 30%
    📺 NBC/MSNBC News 49% 18% 32%
    💼 Wall Street Journal 49% 26% 25%
    📺 CNN 48% 15% 37%
    📻 NPR News 47% 23% 29%
    🇺🇸 USA Today 47% 27% 27%
    🏛️ Washington Post 46% 23% 31%
    🦊 Fox News 43% 15% 43%
    🌐 Yahoo! News 40% 29% 30%
    📰 HuffPost 39% 28% 32%

    Note: Figures are rounded and may not sum to 100.

    Meanwhile, broadcasters ABC, BBC, and CBS are also more trusted than not for at least half of those surveyed. Print and digital newspaper The New York Times also managed a 50% trust rating—the only named newspaper to do so.

    Towards the bottom of this sample of companies, HuffPost is the least trusted (39%) news brand. In 2012, the organization was the first commercially-run U.S. digital news website to win a Pulitzer Prize. In 2015 ownership moved when Verizon acquired AOL (which owned HuffPost). As of 2020, the company is now by Buzzfeed Inc.

    Fox News is the most polarizing brand listed, with an equal 43% share for “trust” and “don’t trust.” It is also the only listed outlet where more than 40% of those surveyed didn’t trust it.

    If you liked this article, check out Ranked: The Most Popular Paid Subscription News Websites for a list of news outlets subscribers are willing to pay for.

    Tyler Durden
    Fri, 07/19/2024 – 19:55

  • Existence Tax: The Vig Plus 3%
    Existence Tax: The Vig Plus 3%

    Authored by Tim Hartnett via LewRockwell.com,

    In the bad old days, before G-Men took down the mob, were urbanites getting a better deal? Does the betting man receive worse odds from state run lotteries than Vinny gave on the corner running numbers? Did businesses shaken down for “protection” have higher hopes of survival in mob clutches than in municipal ones? Was there more or less anxiety about making rent or the mortgage in 1974 than in 2024? Which is the greater fiscal peril, organized crime or uber-societal-organization? It has become a valid question.

    Gangsters had fingers in a lot of pies. Credit card racketeers, waging the present battle against physical currency, demand a slice of everything out of the oven. They’d gladly have us believe that paying for anything, without their supervision and cut, equals a criminally tainted transaction. Mobsters found their pecuniary prevalence legit in its way too. Transactions that jibed with their economic codes they called “kosher.” Other trading activity inside their ambit was deemed transgressive. Parasites tend to sound tiresomely alike. The difference is that the above ground finance industry finds no place outside its ambit.

    Street people’s encampments clutter cities all over the country. What pushed so many over the edge? And how many are treading that edge carefully now? We know that insanity is somewhat genetic, but scientific observation has yet to prove external factors can’t nudge innately inclined individuals into psychosis. Facts point that way.

    Should we harbor suspicion of so-called improvements in the finance system? The Bush-Obama era housing crisis arrived after the government gradually amped up its influence on the mortgage market. Once mortgages became de-localized and Wall Street joined in default skyrocketed and losses went international. Isn’t the NYSE supposed to make markets safer and more efficient? Have we seen anything like that coming out of financial centralization?

    The present squeeze goes on in commercial space. Businesses, particularly restaurants, are shutting down at disturbing rates. The biggest burden is rent. This goes on as city centers are awash in more empty commercial space than ever. Local government isn’t helping. While serenading us about how much they love love and hate hate, they stay busy inundating entrepreneurs with licensing fees, new taxes, permit demands and other hurdles that restrain new ventures from ever launching. If they somehow get going anyway the municipality lurks at every juncture. They’ll keep you from thriving when they can’t stop you altogether. Actions speak louder than words. What they “love,” in practice, is bleeding prey pale with revenue demands and entangling bureaucratic complications.

    In 1977 the minimum wage was $2.30 an hour. You could get nearly four Big Macs for that amount then. When the minimum went up to $12 on July 1st, the same earner only got two and one third double-deckers for his money. Losing 1.3 sandwiches an hour takes a big bite out of a working class lifestyle. 10.4 Mc-grubbings per eight-hour-day to be exact.

    One year after the bicentennial average rent in the US was about $160. An NYT article from 1973 said a family of four needed less than $12,000 a year to live “moderately” in NYC in 1973. The same amount must have been a somewhat comfortable living in flyover country. By 1977 average income was over $13,000. 47 years later, average rent is at least ten times higher. While only about 10% of the population earns $130,000 or more. Where did all the value go?

    Clearly, production is out of sync with consumption. What is the variable? Crops still grow at the same rate. Cargo travels at the same speed. Bricks are laid at the same pace. Chickens plop their eggs with the same regularity. Is anyone in the economy getting more than their fair share?

    Almost 103 billion in “official” currency was circulating in the US in 1977. As of today, that figure stands at nearly 2 trillion 340 billion. The population has increased by about 58%. The greenbacks flowing back and forth went up by over 2000%. Those figures describe a small fraction of the overall economy. Because banks can create spending power with credit, leaving out other fiscal legerdemain, hundreds of trillions are outstanding in fiscal reality. Federal tax revenue alone, will soon hit over 5 trillion so far this year. That’s over twice the official amount of currency in circulation.

    The Big Mac went from 65 cents to $5.17 in that time span. That’s about 700%. Minimum wage rose by about 450%. Watching these fiscal details we know at once that sparse fractions of all that new money is getting to where it is needed most – while we have no evidence it lands in hands that have created actual value. With everyone competing for resources and finished goods, these facts equal a devastating pay cut for many making far above minimum wage.

    The idea that people are taking out according to what they contribute simply doesn’t fly. We can start with where the money supply is expanded.

    A century ago banks were more accountable. They could make risky loans, as they did for Fritz Heinze, but doing so could still mean hell to pay. The series of events that shook the fiscal foundations of South Manhattan in 1907 remain mysterious over a century later. By 2007, banks were getting bailed out and it was everyone else who paid. How we got there is an intriguing conundrum of modern finance.

    Heinze was a mining engineer from New York who showed up in Butte, Montana in the 1890’s. The copper market was hot at the time. That rustic town was already swimming in East Coast toffs and class consciousness. Although born into wealth and circumstances, Augustus Heinze was above pretension and indifferent to “society.” He soon developed a smelting process that greatly expanded the profitability of low-grade copper ore. Rather than pocketing the plunder, his next step was cutting 2 hours off the miner’s workday. How did that go over in the part of Butte that ‘dressed for dinner’? About like The Declaration of Independence did with George III.

    Fritz couldn’t have cared less. The airs put on at posh WASP tables left the man impatient and bored. He did his excess boozing in public places where a man who’d spent the day 500 feet underground was at the next stool. Guys who loaded trams rarely bought a round with Heinze in the house.

    By 1895 he’d amassed the capital to purchase the Rarus copper mine. The new-coming city slicker literally hit paydirt. His holes were always filled with the best pick and shovel men Montana could provide. The swells he snubbed had to take what hired help they could get.

    An officer fraternizing with the enlisted class was high treason to mine owners of the aughts. Heinze was held in a kind of hostile awe. Butte gentry were unaccustomed to a guy who dared not to care if they liked him.  What’s an enraged starched collar to do? We’ll never be entirely sure. Deadly measures were far from uncommon in late 19th century mining strife. What happened to Heinze is one of the murkier mysteries of the robber baron era.

    J.D. Rockefeller’s brother, William, was a director of Anaconda Copper. That firm was run by people who’d never pop a cork with working stiffs. They were revolted by Augie’s effrontery. Their solution was one that has retained its financial force. Whether Heinze was bought out under duress, or sold out of his own volition in 1906 isn’t fully clear. What is known is that he returned to New York as a Wall Street plunger specializing in copper stocks. Using familial connections, and a personal fortune, Heinze got himself onto the boards of almost a score of NYC banks. When shares of United Copper were being shorted in a bear run, Fritz used his position to buy aggressively, borrowing heavily from the Knickerbocker Bank and other commercial lenders where he held sway.

    By October of 1907 the Heinze brothers thought they had cornered the market in United Copper. They demanded the shares from traders who were contractually short – falsely believing the bears would be forced to buy from them. It soon became clear that these shares were not hard to come by. Heinze’s bullishness ended in catastrophic loss rather than profit. This meant that he would default on loans of millions from each of over 15 NYC banks.

    The story, possibly apocryphal but true in effect, goes as follows. Knickerbocker was experimenting with 24 hour banking in 1907. The brainchildren of Wall Street met for dinner at an upstairs private dining room in Delmonico’s to discuss the coming cash crunch. Waiters for the event heard what was said in the meeting. They shared this knowledge with less connected patrons chowing down on the ground floor. A run on Knickerbocker began that night, by morning it had spread to every bank in town. The Panic of 1907 was instantly afoot.

    Soon banks all over Gotham were out of cash to meet a seismic wave of withdrawals. In no time connected institutions from further out were tapped too. JP Morgan famously locked every player he could muster into his mansion’s library to discuss solutions. A plan was worked out and widespread depression was averted. But the financial hierarchy of south Manhattan was far from done. Their next step entailed placing the money supply and credit generally into the possession of elite governors.

    This banking scandal ultimately resulted in the Federal Reserve Act that was passed December 23rd 1913. Whether it solved the problem or laid the foundation for larger ones has been debated since. Getting into the particulars of the statute became inconvenient with the legislature still in session so close to Christmas. ‘Fightin’ Bob LaFollette, gave in and failed to press for a more exacting bill he saw as necessary at the time. The ruckus over the bill’s details were mostly passed over as ‘conspiracy theory’ throughout the 20th century. That line held sway in economic academia for many decades. Scholarly reckoning always comes too late; there is little dispute the charter helped cause and make the Great Depression worse among “experts” today. We are commanded to defer to them with amps at 11. What they got wrong is reported by the same sources at about 2.5.

    Left unexamined is why the Heinze brothers misunderstood who held what in United Copper in 1907. Why did they mistakenly believe they had cornered the market? These were highly educated, seasoned men in the world of finance. How far would William Avery Rockefeller Jr. go to settle a score with Fritz Heinze? Was he cleverly stashing available shares in ostensibly immobile accounts to set up an ambush? The first generation of the Rockefeller fortune was not known to take financial affronts lightly. Is it possible, or more likely probable, William Avery had the means and motive to manipulate the market into this unlikely position?

    John D. Rockefeller Jr. married Abby Aldrich in 1901. Her father, Nelson Aldrich, was the driving senatorial force behind the Federal Reserve Act, although he left the Senate before its passage. The Rockefeller gang has been evangelizing the faith of centralization in everything for over a century. It started when JD Sr. practically accomplished that in the petroleum industry before the turn of the 20th century. If you think they were never capable of violent, gangland style treachery, fast your gaze on the Ludlow massacre of 1914.

    Can we measure the effect of centralization in the financial sector? By 2013 it had almost doubled its share of the economic pie since 1980. When their take went from 5% to 9% in 40 years it had to come at a loss for others at the table. Did the Fed have a role in this? And what justification is offered for doubling the squeeze?  As the economy grows so does the money industry’s cut, just as any salesman’s commission rises as the sales price is higher. Is South Manhattan insatiable? What explanation, other than parasitic predation, fits here?

    The idea of market liquidity and available credit is efficiency and a fluent trading place for financial wares. Theoretically, this is competitive and brings transactional costs down while driving transactional fluidity up. Have we seen any such thing? The NYSE and kin have become like those “clubs” everyone is forced to join avoiding rip-offs for groceries, lunch, medicine, movies etc. The difference is that Wall Street’s anti-rip-off club is exclusive. You are not invited.

    Where are we now? Exactly in the same place as when mobsters skimmed off the top in Vegas casinos, but far worse. The difference is that you get clipped without ever placing a bet or owning a share of a betting parlor. The south Manhattan mob is, supposedly, worth nearly 10% of all the action. What other slices of the take have widened with government intrusion and centralization? The mob focused its shakedowns on high rollers. Higher Ed goes after every kid hoping to drag letters behind his name. They call themselves “non-profits.” Does the description fit the beast?Disciplines of a Godly…Hughes, R. KentBest Price: $4.97Buy New $9.41(as of 01:52 UTC – Details)

    Finding university administrators at leisure is not a job for Columbo. Just head toward any resort, high-dollar fleshpot or country club where profiteers do their squandering. Educational altruists, financial “experts” and well-heeled bon vivants occupy the same weekend turf – as well as the same self-serving sphere of self-justification.

    The Rockefeller family was the largest private benefactor of that ultimate centralizing scheme, the UN. The patriarch, William Avery Rockefeller Sr., was an infamous snake oil salesman and bigamist. He’s not the Rocky the family likes to advertise. They are prouder of efforts to get around the principle of one-man-one-vote and rule the world from the modern equivalent of a royal court on a planetary scale. Make a list of plans to place more bosses overhead and move them further out of reach.  The UN, CFR, WEF, Bilderberg, Trilaterals – you name it and the progeny of that greasy grifter is in on it. And who would they place in charge? The very soul-suckers with their fangs in the US neck pulsing at Wall and Broad.

    We are not looking at an abstruse, undecipherable picture here. You can do differential equations, make “relative assumptions” and discuss monetary theory until you ascend to the meta-fiscal plane of Laputa. None of that supposed “understanding” leaves Joe Six-Pack with another square foot of living space or another Big Mac. Uber-economic organization, aka David Rockefeller’s so-called “more integrated world,” is a progressively feudalistic plot that – with the compliance of the un-fake-news industry – rarely experiences any setbacks.

    Shrinking buying power has a very simple explanation: a prim and proper syndicate that is more ubiquitous and avaricious than any criminal mob ever.

    Tyler Durden
    Fri, 07/19/2024 – 19:30

  • "Day Has Finally Come": Instagram Censors Team USA Rifle Shooter Ahead Of Paris Paralympics
    “Day Has Finally Come”: Instagram Censors Team USA Rifle Shooter Ahead Of Paris Paralympics

    Big tech’s crackdown on “gunfluencers” is nothing new, but policies at social media companies are becoming increasingly restrictive (read: here), leading to the demonetization of numerous channels. The latest victim of this aggressive censorship isn’t even the typical gun YouTuber but instead a competitive rifle shooter on Team USA for the Paralympics. 

    Just The News reports that McKenna Geer, a competitive rifle shooter, had her Instagram account censored before she heads to Paris for the Paralympic Games in late August. Next week, the Olympic Games are set to begin.

    Geer’s Instagram account, “kennageer10.9,” was reportedly censored by the social media company because of photos she posted with firearms at a qualifying competition. 

    “I have always feared the day the media would censor my sport and speech just because I use firearms,” Geer wrote on Instagram, adding, “That day has finally come.” 

    She continued, “This sport is life-changing because of its ability to unite both able-bodied and disabled athletes, young and old, foreign and domestic. Me and my fellow athletes rely on our social media accounts to spread the word about our sport, firearm safety, build our personal brand, and connect with potential sponsors. Many of us (myself included) are either not paid or paid very little for our involvement in this sport. Our social media presence can often be the avenue that pays for us to continue competing.”

    Geer posted a screenshot of an image that shows her account has been censored.

    “Your account and content won’t appear in places like Explore, Search, Suggested Users, Reels, and Feed Recommendations,” the Instagram notification reads.

    On Thursday, she told Just the News that Instagram flagged three of her four latest posts.

    When she informed the USA Shooting public relations team about the matter, they reached out to Instagram and received this response:

    “On Facebook and Instagram’s Help Center websites, we indicate that while some content may be allowable, it may not be eligible for recommendation, including certain regulatory goods that ‘impedes our ability to foster a safe community.’ Help Center entries do not explicitly reference firearms as a regulated good; however, it does include a link to the Community Standards, which identifies firearms as a regulated good.” 

    For Geer and gunfluencers who have been censored or demonetized by social media platforms with ‘trust & safety’ teams aligned with the censorship blob, try X. You might find some relief on Musk’s ‘free speech’ platform. 

    Tyler Durden
    Fri, 07/19/2024 – 19:05

  • The Federal Housing Agency Hasn't Gotten Its Economic House In Order, Under Both Parties
    The Federal Housing Agency Hasn’t Gotten Its Economic House In Order, Under Both Parties

    Authored by Bob Ivry via RealClearInvestigations,

    Paul Fishbein’s conviction on rent fraud charges in New York City last year was a feast for the tabloids. 

    The story was crazy enough to get readers to click. Prosecutors said that Fishbein, 51, somehow convinced local housing agencies that he owned dilapidated apartment buildings that he didn’t, enabling him to move in tenants and skim government rent subsidies meant for lower-income, disabled, and elderly residents. Fishbein kept the con going for more than years. His take: $1.8 million. 

    In February, a judge handed Fishbein 70 months in prison and ordered him to pay back roughly double what he’d taken. The case was a win for city investigators and federal prosecutors. But one agency was conspicuously absent from the celebration: the U.S. Department of Housing and Urban Development, a source of the taxpayer money that Fishbein stole. HUD had nothing to do with bringing to justice the fraudster who’d made off with its cash. It was an indictment of the agency’s decade-long resistance to fighting fraud — and a portent for any promise to tame the bureaucratic state, like the kind touted for a second Trump administration. 

    HUD’s lack of involvement in the Fishbein case isn’t necessarily a reflection on field investigators from the agency’s Office of Inspector General, a nationwide force of 140 sleuths who carry guns and badges and are armed with subpoena power. After all, also in February, HUD OIG investigators participated in a massive dragnet that busted 70 current and former New York City Housing Agency employees for soliciting bribes. HUD’s absence from the Fishbein affair was more a result of the agency’s inability to properly track rental-assistance money that, because of error or fraud, ends up in the wrong places — what the government calls improper payments. 

    HUD, like other agencies responsible for spending taxpayer money, is required to estimate improper payments and post the results. Auditing themselves in such a way is a sign that at least the agencies are following the money, even if a portion of it is lost to waste or crime. Most agencies are able to complete the task, but not HUD, which blames the failures on various snafus, both human and technological, and says the earliest it can start properly keeping tabs on the money is 2027, “dependent on funding.” 

    HUD’s internal watchdog has already spent the past 10 years hectoring the agency to improve its fraud detection. Fiscal 2023, which ended Sept. 30, marks the seventh consecutive year that HUD failed to report improper-payment estimates and the 11th year in a row that the inspector general found that HUD was not in compliance with improper-payment laws. Without changes, HUD Inspector General Rae Oliver Davis told the Cabinet Department in a January management alert, “HUD may miss opportunities to identify and eliminate fraud vulnerabilities, leaving its funds and reputation at risk.”

    That’s the watchdog’s gently diplomatic way of telling HUD to get its act together already. The lack of accountability spans the Obama, Trump, and Biden administrations. There’s little doubt that it can be tough to track taxpayer money once it’s sent out into the world: HUD’s flows through 3,700 local housing authorities and countless landlords on its way to putting a roof over some 3 million American households. But those complications are also a convenient scapegoat for HUD, as is the lag in upgrading technology systems that could make the accounting job easier.

    Meanwhile, we’re talking about two rental assistance programs, which together constitute 68% of HUD’s annual budget. The programs’ combined fiscal budget for 2025, which starts Oct. 1, is slated to be $49.5 billion. Because the numbers are so high, undetected criminality can cause taxpayer losses in the multiple millions. 

    “Action is needed immediately,” Davis wrote in a January management alert addressed to acting HUD Secretary Adrianne Todman. 

    One Bright Spot

    There was one bright spot in the sometimes contentious relationship between HUD and its Office of Inspector General. Last month, HUD agreed to use a risk-management plan for fraud that the agency watchdog had put together during the COVID-19 pandemic. The inspector general said the move would improve monitoring in one of the two big rental assistance programs, laying the groundwork for improved fraud prevention.

    Congress created the two HUD programs – Project-Based Rental Assistance and Tenant-Based Rental Assistance – in an effort to stem homelessness. The $16.7 billion PBRA helps house 1.2 million lower-income families. About 49% of the households that receive PBRA are headed by an elderly person and 16% by the disabled. One-quarter of the recipients are families with children. The assistance is attached to certain rentals; an eligible tenant must live in a specific apartment to receive help. That contrasts with the $32.8 billion TBRA, which provides aid that follows a tenant from home to home. Both programs are administered by local housing agencies, whose cooperation with the federal government in tallying up payment errors sometimes lacks enthusiasm.

    Even though the law directs federal spending programs to estimate their improper payments, PBRA and TBRA aren’t the only ones that fail to do so. Among the transgressors are the Agriculture Department’s $111 billion Supplemental Nutrition Assistance Program, or SNAP, which skipped filing estimates in 2015, 2016, 2020, and 2021, and the Department of Health and Human Services’ $31 billion TANF, or Temporary Assistance to Needy Families. Both SNAP and TANF have blamed snags on a lack of coordination with the state and local agencies that manage the programs. 

    For fiscal 2023, improper payments across the entire government amounted to $236 billion, according to the Government Accountability Office, which compiles agencies’ estimates. While that number is the only one we have, it’s not accurate. The GAO said that it received a full accounting from only 14 of the 24 departments required to report. Historical numbers come with the same flaw. Since 2003, cumulative estimates of improper payments by executive branch agencies have reached $2.7 trillion, the GAO said. Even though that figure is low, because it’s missing numbers that agencies failed to report, it’s still equivalent to about 10% of America’s Gross Domestic Product. 

    Despite its failures in reporting improper payments, “HUD has oversight and monitoring in place to ensure the integrity of its rental-assistance programs,” an agency spokesperson said in an email statement. 

    The spokesperson said that local housing agencies and not HUD are responsible for determining whether tenants are eligible for the programs and how much assistance they qualify for, with HUD providing oversight directly or through the local housing agencies. 

    By reviewing compliance reports and audited financial statements, HUD is able “to ensure that improper payments are minimized and instances of non-compliance are identified and addressed,” the spokesperson said in the email. “In addition, HUD has requested more funding for system enhancements to modernize and improve HUD technology systems to support our oversight efforts.”

    Artificial intelligence might help HUD identify fraudsters such as Fishbein before his swindle can reach its seventh birthday, but as the HUD spokesperson said, that takes money. The Biden administration kept the agency’s budget steady at $72.1 billion from 2023 to 2024. Its proposed fiscal 2025 budget of $72.6 billion is a 0.6% bump.

    Joel Griffith said he knows where to find the money for expanding HUD’s computer-based fraud detection: the agency’s environmental programs. Griffith, a research fellow specializing in financial regulations for the Heritage Foundation, the conservative think tank responsible for Project 2025, recommends taking the $250 million earmarked for “climate resilience and energy efficiency” in HUD’s latest budget and spending it instead on upgrading information technology. Add the agency’s green retrofitting project – as much as $50,000 for each targeted housing unit – and that should add up to enough for HUD to prevent, rather than chase, a lot of rental-assistance fraud, he said.

    ‘Beef Up Enforcement’

    Donald Trump slashed the budget of HUD’s inspector general by 3.6% in 2021, the last year of his budget oversight, while President Joe Biden proposes hiking it by 10% for 2025. Regardless, Griffith urged the next president, “whoever he is,” to “beef up enforcement.”

    “Prevent fraud by prosecuting bad actors and publicizing it,” Griffith said. “Enforcing the law is a responsible use of taxpayer resources.”

    Though HUD’s Inspector General’s office may have missed out on the publicity surrounding the splashy Fishbein conviction, they’ve been busy. They helped lay the groundwork in Georgia for an October conviction of a Milledgeville Housing Authority payroll clerk who admitted she paid herself $575,014 more than she was entitled; helped secure a guilty plea from a San Francisco man who received $341,455 in fraudulent payments for a residence that turned out to be worth $2.4 million; and saw convictions on bribery and fraud charges of four Pennsylvania men, including the director of the Chester Housing Authority and his chief assistant.

    If those cases seem a tad small-fry for investigators hunting for misdeeds in the stereotypically shady rental industry – especially when solutions to systemic problems are called for – there’s the February arrest of 70 former and current New York City Housing Authority employees for bribery and solicitation of bribery. Prosecutors said the administrators pocketed a collective $2 million over 10 years in pay-for-play schemes to hand out work contracts at HUD-funded properties. The Department of Justice called it “the largest number of federal bribery charges on a single day in DOJ history.” 

    Though the arrests gave the tabloids an opportunity for a thorough public shaming of the accused – and were another example that there’s big money in poverty – they might have also pointed to a bigger issue: a possible reason why it’s been so difficult, at least in New York, for HUD to estimate improper payments.

    Tyler Durden
    Fri, 07/19/2024 – 18:40

  • These Are The Most Reliable Car Brands In The US
    These Are The Most Reliable Car Brands In The US

    Reliability is one of the most important aspects to consider when buying a new vehicle, especially as cars become ever more technologically complex…

    In this graphic, Visual Capitalist’s Marcus Lu visualizes the results of J.D. Power’s 2024 U.S. Vehicle Dependability Study, which ranked automakers by the number of problems per 100 vehicles (PP100).

    Data and Methodology

    To come up with this ranking, J.D. Power collected responses from 30,595 original owners of 2021 model-year vehicles after three years of ownership. Their study was fielded from August to November 2023, and covers nine categories of problems:

    • Exterior
    • Seats
    • The driving experience
    • Climate
    • Features/controls/displays
    • Interior
    • Infotainment
    • Powertrain
    • Driving Assistance

    The data shown in this infographic is also listed in table below. Note that Tesla was not included because it did not meet study award criteria.

    Brand Problems per 100 Vehicles
    🇯🇵 Lexus 135
    🇯🇵 Toyota 147
    🇺🇸 Buick 149
    🇺🇸 Chevrolet 174
    🇬🇧 MINI 174
    🇩🇪 Porsche 175
    🇯🇵 Mazda 185
    🇰🇷 Kia 187
    🇩🇪 BMW 190
    🇺🇸 Dodge 190
    🇺🇸 Jeep 190
    Average 190
    🇺🇸 Cadillac 196
    🇰🇷 Hyundai 198
    🇯🇵 Subaru 198
    🇯🇵 Nissan 199
    🇰🇷 Genesis 200
    🇺🇸 Ram 201
    🇺🇸 GMC 206
    🇯🇵 Honda 206
    🇺🇸 Acura 216
    🇩🇪 Mercedes-Benz 218
    🇯🇵 Infiniti 219
    🇺🇸 Ford 239
    🇸🇪 Volvo 245
    🇺🇸 Lincoln 251
    🇩🇪 Volkswagen 267
    🇬🇧 Land Rover 268
    🇩🇪 Audi 275
    🇺🇸 Chrysler 310

    From this dataset, we can declare Toyota and its luxury arm, Lexus, as the most reliable car brands in the United States.

    Compared to the other Japanese duos, Honda and Acura rank a distant 20th and 21st, with 206 and 216 PP100. Meanwhile, Nissan and Infiniti diverge, with the former ranking 16th (199 PP100) and Infiniti at 23rd (219 PP100).

    The least reliable automaker in this ranking is Chrysler, which was also the only brand to surpass 300 problems per 100 vehicles. It’s worthy to note that for the 2021 model year (basis of this study), Chrysler only offered two models: the Pacifica/Voyager minivan, and the 300 sedan.

    Infotainment Systems a Major Pain Point

    According to J.D. Power’s study, “Infotainment” was the most common type of problem experienced by owners, with nearly twice as many problems as the second-highest category, “Exterior”.

    Within the Infotainment category, Android Auto and Apple CarPlay connectivity was a frequent issue, as was built-in voice recognition.

    If you enjoyed this post, check out Charted: Automaker Sales by Region in 2023 to see which markets are the most important for major car brands.

    Tyler Durden
    Fri, 07/19/2024 – 18:15

  • UN Says Global Child Vaccination Rates Below Pre-Pandemic Levels
    UN Says Global Child Vaccination Rates Below Pre-Pandemic Levels

    Authored by Jack Phillips via The Epoch Times,

    Childhood vaccination rates stalled worldwide in 2023, the United Nations said in a new report, finding that some 2.7 million more children haven’t received vaccines as compared to before the COVID-19 pandemic.

    A report by the World Health Organization (WHO) and the U.N. Children’s Fund (UNICEF) issued on July 15 focused on vaccines targeting measles, as well as other illnesses targeted by childhood vaccines such as diphtheria, tetanus, and pertussis—also known as whooping cough.

    Last year, some 84 percent of all children surveyed, or 108 million, received three doses of the diphtheria, tetanus, and pertussis (DTAP) vaccine, according to the WHO and UNICEF. The 2023 rate was the same as the 2022 vaccination rate, the U.N. agencies stated, noting that the DTAP vaccination rate was 86 percent in 2019, a year before the pandemic started.

    The report found that the number of children who haven’t received a single dose of the DTAP vaccine, also known as DTP or DTP3, rose by 600,000 from 2022 to 2023, or an increase to 14.5 million from 13.9 million in 2022.

    Aside from those figures, about 6.5 million children worldwide didn’t receive a third dose of the DTAP vaccine, which the U.N. agencies say is “necessary to achieve disease protection” as an infant or a young child.

    Other than its DTAP findings, the U.N. agencies also stated that vaccination rates for measles “stalled” in 2023, leaving about 35 million children worldwide with “no or only partial protection.”

    About 83 percent of children around the world got their first measles vaccine in 2023 via routine health services, while the percentage of children getting a second measles vaccine dose was 74 percent last year, according to the U.N. agencies.

    “These figures fall short of the 95 percent coverage needed to prevent outbreaks, avert unnecessary disease and deaths, and achieve measles elimination goals,” the WHO said in a statement.

    Measles outbreaks have emerged in more than 103 countries over the past five years, the agencies noted, stating that “low vaccine coverage” of 80 percent or less was a “major factor.” Ninety-one countries that have more vaccine coverage didn’t report outbreaks of measles over the past five years, it found.

    The Centers for Disease Control and Prevention (CDC) earlier this year sent out a health alert over an increase in measles cases worldwide. It advised that American citizens traveling overseas “should be current” on their measles, mumps, and rubella, or MMR, vaccinations.

    “Many countries, including travel destinations such as Austria, the Philippines, Romania, and the United Kingdom, are experiencing measles outbreaks,” the agency stated at the time.

    In the United States, a significant portion of measles cases reported so far in 2024 have been connected to an illegal migrant shelter in Chicago, according to the CDC. Some 57 out of 167 cases reported in the United States this year are associated with the shelter, it stated.

    War-hit countries in particular saw a big jump in the number of children who weren’t immunized in 2023, officials with the two U.N. agencies said at a press conference last week, ahead of releasing the data.

    “As conflicts continue to impact children around the region, Sudan, Yemen, and Syria are home to nearly 87 percent of the total zero-dose children in the region, with Sudan alone contributing 42 percent of these zero-dose children,” UNICEF said in a statement, noting that in Gaza and the West Bank, the “impact of the conflict has already started to show” on vaccination rates.

    The U.N. agencies stated that there were some positives. For example, there were about 600,000 fewer “zero dose” children across the African region in 2023 than in 2022, and coverage of the HPV vaccine, which protects against cervical cancer, also improved globally. Ukraine also saw an improvement in vaccinations amid its war with Russia, officials said.

    Tyler Durden
    Fri, 07/19/2024 – 17:50

  • Impatient Zelensky After NATO Summit: Where Are My Jets?
    Impatient Zelensky After NATO Summit: Where Are My Jets?

    During the big NATO summit earlier this month, everyone from Antony Blinken to Lloyd Austin to President Biden touted the imminent delivery of US-made F-16 jet fighters to Ukraine. “American-made F-16 fighter jets are on their way to Ukraine” and they will be flying “this summer” – Secretary of State Blinken had vowed at the summit on July 10. But in a fresh interview with BBC on Thursday, Ukraine’s President Volodymyr Zelensky has asked his Western backers: where are the jets? 

    He emphasized that Kiev has yet to receive them, now a year-and-half after the program was first announced. Up to 20 of the total nearly 80 pledged were expected to arrive this year from donor states: The Netherlands, Belgium, Denmark, and Norway.

    “It’s been 18 months, and the planes have not reached us,” Zelensky complained in the interview. He once again emphasized that the American jets are needed to “unblock the skies.” He’s also been complaining that his forces need many more Patriot and other anti-air defense systems.

    Zelensky has said he is ‘thankful’ for the warplanes but has still claimed the current pledged numbers will not be enough, and that Ukraine really needs at least 128 of the jets. Zelensky is also likely worried the program will be in further jeopardy if Trump gets into office. He stressed that working with the future Trump administration will be “hard work”.

    Interestingly, during the fresh interview Zelensky also reacted to some Ukraine commentary which has emerged during the Republican National Convention in the US, as BBC writes:

    Just days ago, Trump announced Ohio Senator JD Vance as his running mate in November’s vote. The 39-year-old has in the past said “he doesn’t care what happens to Ukraine one way or the other.”

    The nomination has renewed fears that US commitment to Ukraine could fall away if Trump is returned to the White House in November’s election.

    Zelensky said he will work with US officials to ensure a potential future VP Vance understands the situation on the ground in Ukraine.

    “Maybe he really doesn’t understand what goes on in Ukraine, so we have to work with the United States,” Zelensky said in reference to Vance and a possible Trump administration after November.

    It is not just Ukraine that’s worried about Vance as Trump’s VP pic, but European officials as well. They too worry this could signal the start of waning US support to Kiev.

    During his address to the RNC Wednesday night, Vance at one point said “No more free rides for nations that betray the generosity of the American taxpayer.”

    He has also actually put in writing (in a Financial Times op-ed earlier this year) that “There is frankly no good reason that aid from the U.S. should be needed” given that “Europe is made up of many great nations with productive economies” and Ukraine in reality “needs more matériel than the United States can provide.”

    https://platform.twitter.com/widgets.js

    Vance has also recently described Ukraine ceding territory to Russia as being in “America’s best interest” given that it could bring ceasefire and a lasting peace. He has also as a Senator been a rare vocal critic of Kiev’s crackdown on the Ukrainian Orthodox Church (the bishops who remain in communion with the Moscow Patriarchate) and questions of religious freedom.

    Tyler Durden
    Fri, 07/19/2024 – 17:25

  • Tennessee Drag Show Ban Upheld After Appeals Court Reverses Ruling
    Tennessee Drag Show Ban Upheld After Appeals Court Reverses Ruling

    Authored by Zachary Steiber via The Epoch Times,

    A federal appeals court on July 18 reversed a lower court ruling as it upheld a law in Tennessee that bans performances featuring strippers or men dressed as women in locations where they could be viewed by children.

    A majority of a panel of judges on the U.S. Court of Appeals for the Sixth Circuit ruled that a nonprofit theater group challenging the constitutionality of the Adult Entertainment Act (AEA) failed to prove it has standing.

    The group, Friends of George’s, sued Tennessee officials over the law, alleging it violated rights conferred by the U.S. Constitution’s First Amendment.

    U.S. District Judge Thomas Parker ruled in 2023 that the law is unconstitutional because it is too vague and overbroad.

    The appeals court panel reversed that ruling, finding that Friends of George’s has not provided evidence that it intended to violate the law.

    That means the group lacks standing, the judges said.

    Even if the organization alleged it intended to violate the law, it would need to show that a constitutional interest would be affected, according to the ruling.

    “But the law in this area is clear—there is no constitutional interest in exhibiting indecent material to minors,” U.S. Circuit Judge John Nalbandian wrote for the majority.

    He pointed to a previous ruling from the appeals court that found certain speech, “while fully protected when directed to adults, may be restricted when directed towards minors.”

    “The only constitutionally protected expressions implicated by the AEA are adult-oriented performances that can be constitutionally restricted from minors but not from adults—a narrow slice of speech,” Judge Nalbandian said.

    “And the statute doesn’t even ban these performances, merely restricting them to adult-only zones.”

    U.S. Circuit Judge Eugene Siler Jr. joined Judge Nalbandian in the ruling.

    U.S. Circuit Judge Andre Mathis said in a dissent that Friends of George’s has standing because it will likely hold shows that are affected by the law, leading it to face a threat of prosecution under the statute. He also said that the group’s shows, which have no age restrictions, appear to be protected by the First Amendment.

    The majority and dissent also diverged over particulars of the law. The majority said the law’s prohibition of shows “harmful to minors” refers “only to those materials which lack serious literary, artistic, political, or scientific value for a reasonable 17-year-old minor,” citing a 1993 ruling from the Tennessee Supreme Court. But the dissent said it bars shows to all minors, noting that no court has narrowed the law as written by state legislators.

    Friends of George’s said in a statement it was shocked and disappointed with the decision.

    “Instead of addressing the constitutionality of Tennessee’s drag ban, today’s ruling has left us and thousands of others in the LGBTQ+ community dangerously in limbo, with no clear answers as to how this ban will be enforced and by whom,” the group said in a social media post.

    The organization is consulting with legal counsel on the next steps in the case as it rehearses its next production, which is set to open on Aug. 2.

    Tennessee Attorney General Jonathan Skrmetti said in a statement that the law has been repeatedly misrepresented since it was signed by Gov. Bill Lee.

    “As a state overflowing with world-class artists and musicians, Tennessee respects the right to free expression. But as the court noted, Tennessee’s ‘harmful to minors’ standard is constitutionally sound and Tennessee can absolutely prohibit the exhibition of obscene material to children,” he said. “The court of appeals focused on what the law actually says and ordered the case dismissed.”

    Tyler Durden
    Fri, 07/19/2024 – 17:00

  • Fed F**kery Turns $23BN US Bank Deposit Outflow Into $34BN Inflow Ahead Of Stock Slump
    Fed F**kery Turns $23BN US Bank Deposit Outflow Into $34BN Inflow Ahead Of Stock Slump

    Money-market fund total assets rose last week (+9.6BN) back to record highs ($6.15TN) as stocks tanked…

    Source: Bloomberg

    In a breakdown for the period to July 17, government funds – which invest primarily in securities such as Treasury bills, repurchase agreements and agency debt – saw assets rise to $4.96 trillion, a $6.83 billion increase. 

    Prime funds, which tend to invest in higher-risk assets such as commercial paper, saw assets rise to $1.06 trillion, a $4.66 billion increase.

    The Fed’s balance sheet shrank modestly once again, to an interesting level…

    Source: Bloomberg

    …with utilization of the bank bailout scheme actually dropping $2.75BN to $103BN… still quite a chunk for banks to roll at some point when their 12-month loans expire…

    Source: Bloomberg

    After last week’s plunge, total US bank deposits (SA) rose a modest $9BN…

    Source: Bloomberg

    But, as we have grown accustomed to, on an NSA basis banks saw $27.6BN in outflows from deposits last week…

    Source: Bloomberg

    Which meant that, excluding foreign deposits, The Fed’s magic turned a $23BN deposit outflow (NSA) into a $34.5BN deposit inflow (SA)…

    Source: Bloomberg

    Breaking that down, on an SA basis, large banks saw a $35BN surge in deposits with small banks a modest $0.5BN outflow. However, on an NSA basis both large (-$13.6BN) and small banks (-$9.4BN) saw sizable outflows.

    This was all to the week-ending 7/10 – so before the equity market carnage began.

    Loan volume rose overall during that week, thanks to a surge of $6.6BN from small banks (large bank saw volume shrink $0.6BN). Large bank loan volumes are down for four straight weeks…

    Source: Bloomberg

    Finally, US equity market cap may have started to catch back down to the reality of its tight historical relationship with bank reserves at The Fed…

    Source: Bloomberg

    …but it may be a little soon to call that.

    Tyler Durden
    Fri, 07/19/2024 – 16:40

  • Slowly… Then All At Once!
    Slowly… Then All At Once!

    Authored by James Howard Kusntler via Kunstler.com,

    “Biden has been jabbed at least four times. This is his third covid diagnosis. The shots are working great.”

    – Jeff Childers, Coffee & Covid

    There was a lot of talk about divine intervention at the Republican Convention this week. The country has witnessed a rush of seemingly providential events since the fateful night of June 27th when, to universal horror, “Joe Biden” was unmasked as The Phantom of the White House. The attempt on Donald Trump’s life Saturday, with its intimations of blob involvement, was only the latest of countless trips, hoaxes, capers, and ops that smacked of demonic inspiration laid on the public, so you can’t blame them for feeling that “God is among us now.”

    A huge piece of this dynamic has been the Right’s amazing impotence in the eight-year-long march of insults to the republic – especially the failure to find relief for any of that in the courts of law, until last month when the SCOTUS finally kneecapped Democratic Party lawfare operations. A paramount example of that impotence was being unable to find one jurisdiction willing to adjudicate election fraud in 2020 on the merit of the arguments.

    But there was much more, starting with collective helplessness in the drawn-out RussiaGate psychodrama, even when all the players and their many nefarious acts were exposed by the alt news media, and extending to the mendacious roguery of the two-year Mueller (Weissmann) Commission, followed by fifty-one former intel higher-ups labeling Hunter Biden’s laptop “Russian disinformation, followed by Rep. Adam Schiff’s Ukraine “whistleblower” prank featuring CIA/NSC/DOD/DOJ moles Eric Ciaramella, Colonel Vindman and IC Inspector General Michael Atkinson, and then the FBI-instigated J-6 riot with the ensuing  faked-up House J-6 committee . . . plus you can throw in the stupid Ukraine war, the drag queens in the kindergartens, the bumbling Durham investigation, ten million unvetted illegal migrants flowing into the country and this year’s four show-trials put on to finally break Mr. Trump.

    For many in this land, it has been like the classic nightmare of being paralyzed in the presence of evil. So, it’s no wonder that the Republicans came into their convention with a tremendous tailwind of relief when events suddenly broke their way in June. Now, everyone knows that the current president is a vindictive invalid who will be tossed overboard by his own terrified party in a matter of hours now. And the entire scaffold of lies supporting “Joe Biden” and his party is wobbling badly, too.

    You could see it in the deranged terror of Rachel Maddow’s increasingly contorted face last night as she rehearsed all the hoaxes she has helped to perpetrate, along with her mentally-ill posse of Jenn Psaki, Joy Reid, Nicole Wallace, and the strangely mute white male Ari Melber. It seemed that any minute Rachel’s head would spin and start spewing pea soup at the camera. When will an exorcist finally pay a visit to MSNBC?

    As the sun sets on “Joe Biden’s” career, what’s left of his campaign runs an ad in which he promises “to finish the job.”

    Sounds kind of sinister now, doesn’t it, like something a crime boss might tell his caporegimes? And for sure the country is suffering from this three-year-plus reign-of-terror against common sense and common decency.

    The wreckage is everywhere, all over this land. “Defending our Democracy,” my ass.

    The party big dawgs have paid their terminal visit to the old grifter bringing the sad news that it’s over. Of course, this excites several new headaches for them. Foremost: how can “JB” bow out of the election on account of mental infirmity but still remain president? Even if they call it something else, make some other excuse, the whole world knows now that the president is gone in the head. There are six months remaining to the end of his term and a lot of urgent issues requiring a president’s attention. You can be sure that pressure will rise to shove him out of office altogether. And it may come before the Democratic Convention in late August — if we want to be taken seriously by the rest of the world.

    Of course, that would elevate Kamala to the White House. Would getting to be the first female president of-color for six months be her consolation prize for graciously declining an automatic nomination to run in “JB’s” place, so that the party can stage an “open convention” free-for-all? Or would she better serve the party as a sacrificial goat to head the ticket and get buried in what’s shaping up to be an election landslide for the Republicans? Anyway, which of the various replacement politicians — Newsom, Whitmer, Pritzker, PA Gov. Shapiro —really wants to squander a political future in an election that’s as much a vote against the Democratic Party itself as any particular figure in it? Let the party go down so it can be purged of Green Woke Satanic mentally-ill communists and reorganized on a sane and decent basis.

    But then there’s always HRC.

    She’s been laying back alertly, waiting for an opening to swoop in on her leathery wings and cast a fresh spell over the batshit-crazy women who, in recent times, comprise the party’s base.

    At one point, not many years ago, the party was broke and had to be bailed-out by the Clinton Foundation. To what extent does that entity still own the DNC, and especially its cargo of super-delegates? I guess we’re going to find out.

    Tyler Durden
    Fri, 07/19/2024 – 16:20

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Jul 19

Today’s News 19th July 2024

  • Where Are Europe's Best (& Worst) Spots For A Swim?
    Where Are Europe’s Best (& Worst) Spots For A Swim?

    With summer here, wild swimmers and beach enthusiasts may be happy to know that the European Environment Agency has once more published its annual assessment of the health and environmental quality of bathing waters in the European Union.

    As Statista’s Anna Fleck reports, Cyprus, Austria, Croatia and Greece stand out for their bathing opportunities in 2023, with over 95 percent of sites in these countries having water quality rated as “excellent” last year.

    Infographic: Where Are the Best Spots for a Swim in Europe? | Statista

    You will find more infographics at Statista

    While the results seem poor for Poland, it is important to note that only 77 percent of the country’s bathing waters were assessed last year, meaning that 23 percent of waters have not yet received a classification.

    Of the bathing waters surveyed, almost 72 percent were still “excellent” – a higher score than other countries at the bottom of the ranking, such as Hungary, Estonia and Belgium.

    Tyler Durden
    Fri, 07/19/2024 – 02:45

  • EU Parliament Refuses To Condemn Trump Assassination Attempt
    EU Parliament Refuses To Condemn Trump Assassination Attempt

    Authored by Denes Albert via ReMix news,

    On Wednesday, the Patriots for Europe Group in the European Parliament initiated a plenary debate and a resolution condemning political violence, including the attempted assassination of former U.S. President Donald Trump, the current presidential candidate, but the majority of MEPs voted against it, Kinga Gál, the group’s first vice-president, said in Strasbourg.

    Fidesz EP caucus leader Kinga Gál. (MTI/Tamás Purger)

    At her press conference, Kinga Gál criticized the EU parliament for doing virtually nothing to combat the political violence that has already been rife in Europe.

    She cited as examples the attack on Slovak Prime Minister Robert Fico and the case of Antifa activist Ilaria Salis, who was arrested in Budapest and “despite almost killing an innocent man, is now sitting in the EU parliament benches, and despite all the procedures, is lecturing us on how to behave.”

    https://platform.twitter.com/widgets.js

    Kinga Gál said that in her speech before the agenda, she also referred to Tuesday’s EU parliament vote on the vice-presidencies, calling it disrespectful to the 18 million or so voters behind the Patriots for Europe group and to the basic rules of democracy and the rule of law that neither of the two candidates — Klara Dostalova and Fabrice Leggeri — from the parliament’s third-largest group received enough votes.

    “The fact that practically an extreme communist was voted into the positions belonging to the Patriot MEPs with the help of the European People’s Party is unacceptable,” she said, adding that she did not rule out legal action.

    “We must fight for what we deserve for parliamentary rules,” she said.

    She said that Patriots for Europe had issued a political declaration on the issue, in which it said it strongly condemned all forms of violence in political life, in the light of recent manifestations of political violence in Europe and the U.S.

    “The assassination attempts on U.S. presidential candidate Donald Trump and Slovak Prime Minister Robert Fico must not go unpunished,” the statement said.

    “We find unacceptable the conniving silence of the left-wing political forces and the legitimization of violent acts against patriotic politicians. We demand respect for political opponents in the left discourse and expect fair and balanced treatment from the media,” Kinga Gál wrote in a Facebook post.

    Read more here…

    Tyler Durden
    Fri, 07/19/2024 – 02:00

  • Globalist "Guru" Claims Trump's Re-Election Will Mean 'The Death Of Global Order'
    Globalist “Guru” Claims Trump’s Re-Election Will Mean ‘The Death Of Global Order’

    Authored by Brandon Smith via Alt-Market.us,

    Yuval Harari is best known as a globalist “philosopher” or “guru” closely tied to the World Economic Forum.  He is infamous for his Ted Talks and summit speeches declaring the coming abandonment of personal individualism and independence while elevating AI as the harbinger of a new technological religion.  He joyously preaches about the fusion of AI technology with the human body to give certain elitist groups the power of “gods.” His notions of the supposedly infinite abilities of algorithms to influence culture and politics are so overblown they enter into the realm of children’s fantasy.

    I mention Harari often in my work because I believe he is a kind of litmus test for the true intentions of globalists.  He’s a lot like Henry Kissinger in his New World Order zealotry – He has a hard time keeping his mouth shut about the greater agenda and this works to our advantage.  If you really want to know what the elites plans are, look up past discussions by true believers like Harari.  When they start preaching their dark gospel they can barely control themselves.

    Harari’s writings are replete with calls for digital authoritarianism and global government. I examined his power-obsessed philosphy and his moral relativism last year in my article ‘Governance By Artificial Intelligence: The Ultimate Unaccountable Tyranny.’

    It’s important to understand that Harari’s ideology is common among the globalists and the only thing I can accurately describe it as is “Luciferianism” – A narcissistic belief system that claims CERTAIN human beings can become gods and should be worshiped as gods. Harari and many globalists seem to think AI is their ticket to godhood.  I would compare them to the corrupt high priests of ancient cultures like the Aztecs who used their secret knowledge of mathematics and the movements of the planets to predict solar eclipses and terrify the peasants into compliance.  AI is the new solar eclipse; the great serpent eating the sun.

    Combine this corruption with elitist desires for a one-world government and you can see the incredible danger here. 

    In his book ‘From Animals into Gods: A Brief History of Humankind’ in a passage that has recently been removed from newer additions, Harari says this:

    “As the twenty-first century unfolds, nationalism is fast losing ground. More and more people believe that all of humankind is the legitimate source of political authority, rather than the members of a particular nationality, and that safeguarding human rights and protecting the interests of the entire human species should be the guiding light of politics. If so, having close to 200 independent states is a hindrance rather than a help. Since Swedes, Indonesians and Nigerians deserve the same human rights, wouldn’t it be simpler for a single global government to safeguard them?”

    (From Animals into Gods: A Brief History of Humankind (2012), p. 244

    Keep in mind that when Harari talks about “human rights” he is referring to human desires.  He has stated on numerous occasions that he believes freedom and individuality are fantasies, constructs of the mind with no importance in the real world.  For globalists, “human rights” are special privileges used as leverage to buy popular compliance.  They are a gift from government, not a gift from God.

    In the past couple of years Harari has suddenly shifted his rhetoric and argues that global government is not the ideal.  He also talks about AI as a danger that needs to be contained by bureaucracy rather than a deity that needs to be worshiped.  I suspect this is because there has been a sea change in public awareness since 2012 and now he has to be more careful about how he talks in the media.  I have been working within the Liberty Movement since 2006 and I can say with some authority that many MILLIONS more people are aware of the threats posed by globalism today compared to 2012.  This puts the globalist agenda in peril.

    With the failure of the pandemic lockdowns I think the power brokers have been left stunned. This was clearly their big play to get the global governance they have long lusted after and it fell apart. Attempting to induce mass fear over a virus that 99.8% of the population would easily survive did not work out well for them.

    Everything was riding on medical tyranny: They thought they were going to get vaccine passports which would have given them total economic control of the populace. They thought they were going to introduce CBDCs (digital currencies) and create a cashless society. They thought they were going to leverage the covid lockdowns into perpetual “climate lockdowns.” They got nothing and their agenda was fully exposed. The patriot movement in the US has exploded in popularity in response and now they have millions more rebels to contend with in the future.

    In response to their failure, many of the prominent names during the lockdowns have faded into the background.

    • Klaus Schwab from the WEF was EVERYWHERE during covid; now he is gone.

    • Anthony Fauci has slipped into obscurity.

    • Authoritarian leaders like New Zealand’s Jacinda Ardern have stepped out of the political limelight. Where did they go?

    I think they know what’s coming. I think they fear a populist backlash, a rising of torches and pitchforks, and they are going into hiding.

    This is where we must address the issue of Donald Trump and how he is viewed by the globalists…

    In light of the recent assassination attempt on Donald Trump I think it’s important to revisit the long running globalist narrative on the “world order” and Trump’s position as scapegoat for any and all calamities that befall it. 

    Their primary assertion is that any movement that values national interests over global centralization is an evil movement that must be suppressed or destroyed.  This very rhetoric has permeated leftist political organizations (including Joe Biden’s administration) and the corporate media; it is being used as a justification for subterfuge and extreme violence against conservatives.

    In an interview earlier this year, Harari suggested that the return of Donald Trump would mean the “death of the global order.” He then gaslights, claiming that there is no fight between nationalism and globalism and that the idea of a “globalist conspiracy” is entirely a fabrication of populist movements. These people truly expect us to forget the censorship and oppression they attempted during covid.

    What I find most interesting is Harari’s take on the next few years, in which he offers what I would interpret as a thinly veiled threat. He argues that war is coming on an expansive scale unless nationalists (defenders of sovereignty) end their rebellion and return to “order” (the centralized control of the globalists). He ties this threat directly to Donald Trump.

    The thing is, Trump is just a reflection of a larger movement against the globalist regime. Getting rid of Trump would change nothing. In fact, getting rid of Trump might make the populace commit to full bore revolution even faster. And, if it ultimately turns out that Trump doesn’t benefit the cause of freedom from the elites, that same revolution will eventually happen without him.

    I have my own concerns about Trump, primarily what kinds of people he will place in his cabinet. But I have long said that above all else Trump is the most likely scapegoat for an international collapse that the GLOBALISTS CREATED. They set the stage for these crisis events by encouraging economic instability and geopolitical conflicts (Ukraine being one of many). I don’t see any globalists vying for legitimate peace. I do see them pushing to escalate various conflicts into WWIII.

    The trick is, by blaming Trump they think that all conservatives and “nationalists” will be blamed by extension. It’s an obvious but somewhat clever ploy; by making conservatives into the villains behind a planetary catasrophe the elites can deflect suspicion while operating with impunity in the future.

    Anyone who questions them can simply be labeled as “nationalist terrorists” as history is rewritten.

    But is the “death of the global order” really a bad thing? I would say that it is only a negative if the globalists are left alive to continue to manipulate the chaos that follows. The real culprits behind war and economic collapse should be punished. They should be removed from power, imprisoned or done away with forever. Bottom line? The globalists need to go if real peace and order is ever to be established.

    *  *  *

    If you would like to support the work that Alt-Market does while also receiving content on advanced tactics for defeating the globalist agenda, subscribe to our exclusive newsletter The Wild Bunch Dispatch.  Learn more about it HERE.

    Tyler Durden
    Thu, 07/18/2024 – 23:10

  • Is The Golden Age Of TV Series Over?
    Is The Golden Age Of TV Series Over?

    Despite the fact that the “traditional” TV model (i.e. live TV, broadcast and cable) has been under severe pressure from streaming services and changing media consumption habits in recent years, many people would argue that the past decade has in fact been the golden age of TV.

    That is, the golden age of scripted TV series, which have enjoyed a level of attention, critical acclaim and appreciation as never before.

    Not more than a decade ago, you would have been hard-pressed to find an established, successful actor in Hollywood willing to play a major role in a TV series.

    TV actor was used as a derogatory term for those who had failed to make an impression on the big screen.

    These days, elaborate productions such as HBO’s smash hit “Game of Thrones” or Netflix’s “Stranger Things” arguably grab more attention than most Hollywood blockbusters, and not only has TV acting lost its stigma, it is now a prestigious gig that many Hollywood stars are striving for.

    The risen esteem of TV drama, a seemingly insatiable consumer appetite for new content to devour and of course the entrance of deep-pocketed streaming-only players such as Netflix, Amazon and Apple have led to a steep increase in the production of original scripted TV content over the past decade.

    As Statista’s Felkix Richter reports, according to estimates by FX Networks Research, the number of original scripted TV series (excl. re-runs) aired in the United States climbed from 216 in 2010 to 600 by 2022 – a moment now widely seen as “peak TV”.

    Last year, due in part to the Hollywood writers’ strike and in part by focus shifting from growth at all costs to profitability, the number of shows on TV declined 14 percent to 516.

    Infographic: The Golden Age of TV Series: Is It Over? | Statista

    You will find more infographics at Statista

    FX chairman John Landgraf, a major voice within the TV industry, predicted this trend in 2022, saying that the year would mark “the peak of the peak TV era”, even before the writers’s strike disrupted production for large parts of 2023.

    “I don’t see new major purveyors of programming entering the scene as they have been continuously over the past decade or more,” Landgraf explained in August 2022. “And in fact, there are some prior purveyors of television programming that are kind of exiting the scenes. So, in other words, you’re at the point now where you’re not really adding new suppliers, but you are, to some extent, subtracting suppliers.”

    Tyler Durden
    Thu, 07/18/2024 – 22:45

  • Some States Embrace CO2 Cap-And-Trade Schemes, Others Reject Them
    Some States Embrace CO2 Cap-And-Trade Schemes, Others Reject Them

    Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

    The United States is following Europe’s lead in instituting cap-and-trade regimes to reduce CO2 emissions, but America’s journey is split between two paths—Democrat-run states that have passed cap-and-trade mandates, and Republican-run states that appear to have no intention of doing so.

    (Illustration by The Epoch Times, Shutterstock)

    In the middle are several swing states that have entered, then exited, cap-and-trade pacts, depending on which party gains the upper hand.

    As global demand for oil, gas, and coal hits record levels and shows no signs of slowing, cap-and-trade has been hailed as an alternative way to reduce the use of fossil fuels by setting caps on how much CO2 companies can emit, and then allowing those that exceed the cap to purchase credits from companies that emit less, or to invest in projects, such as preserving forests, that purport to offset emissions.

    The financial currency of the cap-and-trade market is called an “allowance,” which gives companies the right to emit greenhouse gasses. Each allowance is valued in terms of tons of emitted CO2, currently priced at less than $10 per ton, though organizations such as the World Bank have said that pricing in the range of $50–$100 per ton is needed to meet the net-zero goals of the Paris Climate Accords.

    Advocates of cap-and-trade hail it as a “market-based” solution.

    “Cap and trade harnesses the power of the market to fight global warming,” a report by the Environmental Defense Fund states.

    “The cap on emissions guarantees the environmental results we need,” the report states. “Trading gets it done in the cheapest way possible.”

    But some critics are skeptical, arguing that it is essentially a tax on energy that gets passed on to consumers and commuters, and that insiders may benefit more than the environment from the enormous sums of cash paid into the system.

    “Cap-and-trade is a very interesting theoretical model to try to solve a policy problem, but it’s one that ultimately ends up just moving the costs around,” Ryan Yonk, an energy economist at the American Institute for Economic Research, told The Epoch Times.

    “Ultimately, the people that pay are the end consumers. The people that benefit are the market creators, and that’s really one of the major concerns,” Mr. Yonk said.

    “If you’re going to have a cap-and-trade system, those that are facilitating the transactions, the middlemen that are involved, will ultimately be those that benefit most directly.”

    And indeed, an industry has sprung up around carbon pricing regimes, with stock exchanges vying to become financial centers for carbon trading and financial firms looking to profit from making markets in this new currency.

    In addition, accountants and consultants earn fees to develop investable carbon-offset projects and to quantify the environmental benefits. Companies that develop wind and solar production or carbon-capture technology are also often recipients of carbon-offset payments under these regimes.

    European deputies take part in a meeting on EU emissions at the European Union Parliament in Brussels on June 22, 2022. (John Thys/AFP via Getty Images)

    Following Europe’s Lead

    Europe led the way in mandating cap-and-trade, establishing the European Union Emissions Trading System (EU ETS) in 2005, which regulates approximately 10,000 manufacturing and energy facilities, as well as air and maritime transport. According to the EU, this system has reduced industrial emissions by 37 percent since its founding.

    The Obama administration attempted to implement a nationwide cap-and-trade system, but noted that Americans would end up paying more.

    President Barack Obama stated in 2008: “Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket.”

    He said coal powered plants or the natural gas industry, for example, “would have to retrofit their operations—that will cost money [and] they will pass that money on to consumers.”

    According to a report by the Heritage Foundation, enabling legislation in Congress “failed to reach President Barack Obama’s desk because constituents gave their members an earful that cap and trade would amount to a massive energy tax.”

    Since then, Democrats have been successful in implementing these mandates only at the state level.

    According to the Center for Climate and Energy Solutions, more than one-fourth of Americans now reside in a state with a cap-and-trade program, which together comprise one-third of U.S. GDP.

    In 2009, Connecticut, Delaware, Maine, New Hampshire, New Jersey, New York, Vermont, Massachusetts, Rhode Island, and Maryland officially launched the Regional Greenhouse Gas Initiative, a cap-and-trade pact that ultimately expanded to include a dozen states throughout the northeast and Mid-Atlantic region.

    California enacted its own cap-and-trade regime in 2012, and advocates say it has generated significant results.

    A May report by California’s Air Resources Board stated that the state’s cap-and-trade program has funded $28 billion in climate-related investments over the past decade. Of the money spent, $11 billion financed various projects to “fight climate change and cut pollution.”

    The remaining $17 billion was designated for projects such as putting affordable housing near job centers, building high-speed rail, and “adding zero-emission transportation options in underserved communities.”

    In 2021, Washington State established a similar program, calling it “cap-and-invest,” through its Climate Commitment Act (CCA). The state now conducts quarterly auctions of CO2 allowances that emitters must purchase if they exceed emissions caps. The caps will be progressively reduced so that the state can get to net-zero emissions by 2050.

    “These 2030, 2040, and 2050 limits were set into state law before the CCA was passed, and they’re based on the latest climate science,” Caroline Halter, communications manager for Washington’s Department of Ecology Climate Pollution Reduction Program, told The Epoch Times.

    “In other words, they’re what scientists have said all governments need to do in order to avoid the worst impacts of climate change.”

    Read more here…

    Tyler Durden
    Thu, 07/18/2024 – 22:20

  • BlueAnon Watch: One-Third Of Democrats Believe Trump Faked Assassination Attempt As Conspiracy Theory Goes Mainstream
    BlueAnon Watch: One-Third Of Democrats Believe Trump Faked Assassination Attempt As Conspiracy Theory Goes Mainstream

    At the height of the “QAnon” fervor in 2021 – roughly 23% of Republicans said they believed the theory that Donald Trump is fighting a cabal of satanic, sex-trafficking pedophiles.

    On Monday, a Morning Consult poll found that 34% of Democrats think Trump faked his own assassination attempt last Saturday. Such left-wing conspiracy theorists have been referred to as “BlueAnon,” and as the Washington Free Beacon reports, this particular notion – that Trump faked the assassination attempt – originated with Democratic powerbroker Dmitri Mehlhorn, who has made at least 10 visits to the Biden White House.

    Hours after the shooting on Saturday, Mehlhorn – and adviser to LinkedIn founder Reid Hoffman (who joked about assassinating Trump the week before the attempt) – sent a memo to reports suggesting they portray the shooting as a false-flag operation directly from Vladimir Putin’s playbook, designed to give Trump an iconic photo-op.

    “This is a classic Russian tactic, such as when Putin killed 300 civilians in 1999 and blamed it on terrorists to ride the backlash to winning power,” wrote Melhorn, who failed to address numerous photos – such as the one showing a bullet whizzing past Trump’s head, the obvious bullet wound across Trump’s right ear, or the death of a rally attendee – Corey Comperatore, who was shot while shielding his family from bullets.

    Oh?

    https://platform.twitter.com/widgets.js

    As the Free Beacon reports, the conspiracy theory is spreading like wildfire:

    Jeff Tiedrich, a liberal social media influencer with 1.1 million followers who attended an Oct. 2022 White House influencer summit to coordinate midterm election messaging with the Biden administration, on Monday posted a Substack screed “connecting some weird dots” surrounding the shooting.

    “Did the extreme right want this to happen?” Tiedrich wrote, speculating the shooting could have been connected to a plot to replace Trump atop the GOP ticket with former national security adviser Michael Flynn.

    Tiedrich, who did not return a request for comment, on Thursday mocked the Washington Post for describing the shooting as “Trump’s near-death experience” and said there was no hard evidence that a bullet grazed the former president’s ear.

    “What the fuck is going on under that bandage?” Tiedrich asked. “And why is the press so disinterested in finding out?”

    Liberal MSNBC commentators have adopted a subtler approach to fanning the conspiratorial flames, suggesting in recent days that Trump could not have been shot in the ear by a high-caliber rifle bullet and that the former president is hiding something by not releasing detailed medical records about his wound.

    “If he was shot by a high-caliber bullet, there should probably be very little ear there,” MSNBC host Michael Steele told viewers on Tuesday.

    Steele’s fellow MSNBC host Joy Reid on Wednesday joined him in asking questions about Trump’s injuries.

    “I have many questions!” Reid wrote on Threads. “Like where are the medical reports? What caused Trump’s injury and what was the injury? Sheapnel? [sic] Glass? A bullet?”

    Reid doubled down on her baseless conjecture Thursday morning, posting a video to TikTok in which she said that “we still don’t know for sure whether Donald Trump was hit by a bullet,” glass fragments, or something else. She then suggested something nefarious was behind the Secret Service’s having “allowed” Trump to pump his fist as agents led him off the rally stage.

    https://platform.twitter.com/widgets.jsMeanwhile, former CNN reporter John Harwood, who admitted he’s “not familiar with ballistics at all,” suggested that Trump’s ear shouldn’t exist if an AR-15 bullet grazed it.

    https://platform.twitter.com/widgets.js

    So… those spreading conspiracy theories should be deplatformed and debanked, correct? What playbook are we on.

    Tyler Durden
    Thu, 07/18/2024 – 21:55

  • Providence And President Trump: Gingrich
    Providence And President Trump: Gingrich

    Authored by Newt Gingrich via RealClearPolitics,

    I have known President Donald Trump for 30 years. Callista and I consider him a dear friend. Watching him get shot at his rally in Butler, Pa. was stunning and horrifying.

    President Trump’s reaction to being shot was immediately iconic. He stood up with blood running down his face, raised his fist, and said “fight, fight, fight,” and then “USA.” It was a tremendous vision of courage and power. It struck home all around the world. Within minutes images began to circulate on the internet tying President Trump’s courage to the courage of other historic figures and moments. There is even a Japanese anime about President Trump’s heroic reaction.

    When it was clear the President was going to be alright, Callista and I were deeply relieved. For me, that emotion was then immediately replaced by fury. This assassination attempt was the result of the left’s nine-year effort to demonize our friend, President Trump. I had to take some time to get my emotions under control before going on Fox with Sean Hannity to talk about the event.

    During that cooling off period, my old friend Ambassador Randy Evans called to say that his Pastor, Michael Youssef, had told him it was a providential event. President Trump had turned to look up at a big sign behind him. The shooter took aim at his head while he was looking to one side. When the President turned back to look at the audience the bullet missed his head by less than an inch and hit his ear.

    If President Trump had not turned at exactly the right moment, he would have almost certainly been killed.

    When I told Hannity that I really believed President Trump’s survival was providential, that term went around the world.

    The concepts of divine intervention and providence have a long record in American history.

    When young George Washington went west with Maj. Gen. Edward Braddock’s British army in the French and Indian War, they were ambushed on July 9, 1755. Braddock was wounded when the battle began. The Army began to panic and fall apart. Washington, then-23 years old, took control and rallied the British troops saving them from annihilation.

    Washington wrote his brother, “by the All-powerful Dispensations of Providence, I have been protected beyond all human probability or expectation; for I had four Bullets through my Coat, and two Horses shot under me; yet escaped unhurt, altho[ugh] Death was leveling my Companions on every side of me.”

    Washington’s belief in providence was further expressed in his farewell address to the troops after the success of the Revolutionary War: “The singular interpositions of Providence in our feeble condition were such, as could scarcely escape the attention of the most unobserving.”

    When President Ronald Reagan met with Pope John Paul II to determine how to defeat the spread of communism, one of the unifying facts was that both had been shot in assassination attempts. Coming to grips with why God had spared them – and finding a common mission in defeating the Soviet Empire – were inextricably intertwined. Callista and I talked about this our documentaries “Ronald Reagan: Rendezvous with Destiny” and “Nine Days that Changed the World.”

    President Trump now joins the list of historic figures who have been saved from almost certain death.

    When President Trump came to the Republican National Convention, I could tell that he was already calmer, more deliberative, and grateful to be alive. There was a humility and gratitude in his attitude that showed the act of having been spared had a deep impact.

    Virtually anyone who had been within a half-inch of being killed would have a deep and sobering reaction. “But for God, I would have been dead,” is a legitimate sentiment.

    President Trump’s courage and determination after having been shot has created new level of affection – and a new intensity of support – among those who believe in him. He was always the champion of a movement rather than a traditional candidate. Now he has become a symbol of courage, defiance, and determination.

    Neither America – nor President Trump – will ever be the same after Saturday’s nights assassination attempt.

    We are on the edge of a new stage in American history.

    The combined sense of gratitude, awe, and historic challenge make this convention different from any of the nine others I have attended.

    The next few days will be remarkable.

    For more commentary from Newt Gingrich, visit Gingrich360.com. Also, subscribe to the Newt’s World podcast.

    Tyler Durden
    Thu, 07/18/2024 – 21:30

  • With Chevron Overturned, Congress May Have To Adapt
    With Chevron Overturned, Congress May Have To Adapt

    Authored by Arjun Singh via The Epoch Times (emphasis ours),

    The Supreme Court’s decision to strike down the Chevron deference, which had the effect of enhancing federal agency power, has been deemed a “seismic” change for U.S. administrative law.

    (Illustration by The Epoch Times, Shutterstock)

    Members of Congress tell The Epoch Times that they believe the Supreme Court ruling will equally shake up the process of lawmaking.

    On June 28, in Loper Bright Enterprises v. Raimondo, the Supreme Court struck down its 40-year-old precedent in Chevron v. Natural Resources Defense Council, which required federal courts to defer to government agencies’ “reasonable interpretation” of ambiguous laws that the agencies enforce through federal regulations—even if the courts disagreed with those interpretations.

    Chief Justice John Roberts wrote that the Loper Bright decision now empowers courts to “independently interpret the statute and effectuate the will of Congress.”

    Members of Congress have since been considering how to update the way that laws and regulations are drafted to meet the requirements outlined by the Loper Bright decision, such that the “will of Congress” may be clear when regulations are challenged in court.

    Specify Laws

    Lawmakers on Capitol Hill indicated that several reforms to the legislative process are likely to follow the Loper Bright decision.

    “This institution is going to have to change; how we staff committees is going to have to change, and how we work with the administrative state will have to change,” Rep. Patrick McHenry (R-N.C.), chairman of the House Financial Services Committee, told The Epoch Times.

    “We’re going to have to be much more specific in the lawmaking exercise … we’re going to have to have committees that have more staff in order to accommodate specific legislative writing.”

    He said Congress will “have to have some changes in our internal processes of what comes to the floor.”

    “We don’t have the muscle memory of how to write laws specific enough … it’s muscle memory that has to be recreated here. And it’s possible but it’s going to be hard,” Mr. McHenry said. He briefly acted as the House Speaker pro tempore in 2023 after Rep. Kevin McCarthy (R-Calif.) was stripped of the gavel.

    The Supreme Court in Loper Bright opined that non-specificity in statutes is unintentional, suggesting that Congress could now intentionally write laws more specifically.

    “A statutory ambiguity does not necessarily reflect a congressional intent that an agency, as opposed to a court, resolve the resulting interpretive question. Many or perhaps most statutory ambiguities may be unintentional,” Justice Roberts wrote for the court’s majority opinion.

    However, members of Congress say ambiguous laws are a political necessity, given disagreements between lawmakers over a law’s scope and purpose.

    The U.S. Capitol building is seen from the steps of the Supreme Court building on Jan. 26, 2022. (Chip Somodevilla/Getty Images)

    In those situations, Congress, for convenience, often delegated the interpretation of some laws to federal agencies, which gave them wide discretion to regulate.

    “The vast majority of all regulations in the last 40 years have been because of the ambiguity,” Sen. Rand Paul (R-Ky.) told The Epoch Times.

    “When people know there are not votes to pass the laws, they figure: ‘Well, let’s make it ambiguous, and then the agency will interpret it in a way we like,’” Sen. John Cornyn (R-Texas) told The Epoch Times. “None of that will be able to occur anymore.”

    “The Supreme Court seems to be pointing at Congress to say: Be more specific,” Sen. Tim Kaine (D-Va.) told The Epoch Times. “That does put a little more of a burden on our shoulders when we’re doing legislation, to not just broadly defer. Exactly how specific [laws] have to be, I don’t know.”

    That level of specificity has divided members as they draft legislation, with some believing it’s impossible.

    “There is always going to be some ambiguity in the bills that we pass … as much as you want to write bills that are very, very specific, you can’t,” Rep. Carlos Giménez (R-Fla.) said.

    Instead, some lawmakers believe Congress should now specify how courts treat post-Chevron disputes about regulations, such as making evidence reviewable “de novo”—whereby courts can examine evidence beyond the agency’s administrative record, to which they are currently limited by the Administrative Procedures Act (APA).

    That proposal goes beyond Loper Bright, in that courts would not only interpret the law authorizing a regulation but also judge the validity of scientific and technical evidence supporting it.

    “Moving forward, we need to prescribe and be very clear that … [there] is a de novo review,” Sen. Eric Schmitt (R-Mo.) told The Epoch Times.

    Others think that all new regulations should require Congressional approval before passage.

    “Rulemaking should come back to the House. If the administrative branch writes a rule based on our law, we as Congress should be able to approve that rule: up or down,” Mr. Giménez said.

    Some Lawmakers Favor Reversing Loper Bright

    As some members of Congress consider how to adapt to Chevron’s departure, several Democrat lawmakers have responded by looking for ways to restore Chevron deference to agencies.

    “We’re going to fix what the Supreme Court did when they overruled precedent for no good reason, in what is known as Chevron case,” House Democratic Caucus Vice Chair Ted Lieu (D-Calif.) said.

    “The Supreme Court has now essentially said that, ‘Hey, judges are better than the technical experts at agencies and looking at congressional statutes’ … No, judges are not better,” he said.

    Efforts to codify Chevron deference into law have been gaining steam among congressional Democrats.

    In March of 2023, Congressional Progressive Caucus Chair Pramila Jayapal (D-Wash.) introduced a related bill with several co-sponsors. After the recent Loper Bright decision, 35 Democrats have joined as co-sponsors, including Rep. Jerry Nadler (D-N.Y.), ranking member of the House Judiciary Committee, which has jurisdiction over reforms to federal courts.

    The Senate’s 60-vote “cloture” requirement to overcome a filibuster means such reforms are unlikely unless Democrats force a rule change to rescind it. Moreover, some legal experts raise constitutional and practical concerns about the idea.

    “Over the years, Chevron had acquired many exceptions, qualifications, and acknowledged ambiguities,” said Jeremy Rabkin, a distinguished fellow at the C. Boyden Gray Center for the Study of the Administrative State.

    House Democratic Caucus vice-chair Rep. Ted Lieu (D-Calif.) arrives at a news conference after a meeting at the U.S. Capitol on Sept. 19, 2023. (Anna Moneymaker/Getty Images)

    “It wouldn’t be enough for a statute to say, ‘Never mind Loper Bright, just go back to Chevron.’ The statute would have to explain what that was supposed to mean. But, once you get down to the details, I am doubtful Congress could reach an agreement on what it would like,” Mr. Rabkin said.

    “Beyond all that, I think there are serious constitutional problems with a statute that tells courts how they should interpret statutes.”

    Other Democrats have suggested more measured reforms.

    “We’re still looking into [reforms] and whether a general amendment of some kind to the Administrative Procedures Act, or more specific bill by bill ramparts, to protect the expertise from judicial meddling are the best way to go,” Sen. Sheldon Whitehouse (D-R.I.), the chairman of the Senate Budget Committee, told The Epoch Times.

    Since the Loper Bright decision, Congress has not taken up any major administrative proposals that would invite regulation.

    Whenever that may be, it will likely prove to be the first test of how Congress proceeds with legislation post-Chevron.

    “There’s been a sea change of how this place operates. I think, how the whole government operates,” Rep. Dean Phillips (D-Minn.) said of the impact of the decision.

    Tyler Durden
    Thu, 07/18/2024 – 21:05

  • Watch Live: Tucker, Hulk Hogan, & Dana White Intro Trump's Address To RNC
    Watch Live: Tucker, Hulk Hogan, & Dana White Intro Trump’s Address To RNC

    It’s the last day of the 2024 Republican National Convention – and it’s going to be a big one.

    7:30 p.m. Central

    • Tucker Carlson, founder of Tucker Carlson Network

    7:30-8 p.m. Central

    • Carrie Ruiz

    • Hulk Hogan, former professional entertainer and wrestler

    • Annette Albright

    8-9 p.m. Central

    • Franklin Graham, president and CEO of the Billy Graham Evangelistic Association

    • Eric Trump

    • Dana White, CEO of Ultimate Fighting Championship

    9-10:30 p.m. Central

    • Former President Donald J. Trump

    Former first son Donald Trump Jr. predicted Thursday that his father’s upcoming speech at the Republican National Convention will be “personal” since it changed after the assassination attempt.

    “It’s personal,” Trump Jr. said on the “Just the News, No Noise” TV show.

    “Listen, you get shot in the face, it changes a lot. And so, I’m actually looking forward to hearing it.”

    Trump Jr. said he looked over his father’s original speech and thought it was good. He added that the first speech had gone in the “wastepaper basket” after the assassination attempt at a rally in Pennsylvania.

    Watch Live:

    Tyler Durden
    Thu, 07/18/2024 – 20:32

  • Secret Service Whistleblowers Emerge Following Trump Assassination Attempt
    Secret Service Whistleblowers Emerge Following Trump Assassination Attempt

    US Secret Service whistleblowers have approached the House Judiciary Committee, claiming that there were limited resources to cover former President Donald Trump last weekend due to the North Atlantic Treato Organization (NATO) summit in Washington DC, as well as first lady Jill Biden’s campaign rally in Pittsburgh, PA.

    Chairman Jim Jordan has demanded answers FBI Director Christopher Wray, according to the Daily Caller.

    “Whistleblowers have disclosed to the Committee that the USSS led two briefings regarding the July 13 campaign rally on July 8, 2024, with the Western Pennsylvania Fusion Center (WPFC) and other stakeholders, to discuss the upcoming, unrelated visits by President Trump and First Lady Dr. Jill Biden,” reads a Thursday letter from Jordan to Wray. “The USSS Special Agent in Charge Tim Burke reportedly told law enforcement partners that the USSS had limited resources that week because the agency was covering the North Atlantic Treaty Organization (NATO) summit in Washington, D.C. FBI personnel were present at those briefings. While the Committee recognizes that the FBI is one of many agencies represented in the WPFC, it is the lead federal investigative arm and a key source of intelligence on potential threats for special events in its area of responsibility,” he continued.

    “The Committee has several unanswered questions about the failures that led to the attempted assassination of a president—the first in over forty years—as well as the FBI’s ability to conduct a rapid, transparent, and thorough investigation in the wake of its recent scandals. Accordingly, to ensure that the Committee can effectively evaluate these matters during your testimony on July 24, 2024.”

    Jordan seeks the following information from Wray:

    • How many agents, analysts, and support personnel has the FBI dedicated to the investigation?
    • Was there coordination between the FBI, USSS, and the WPFC prior to President Trump’s event on July 13?
    • How many buildings had to be secured inside and outside of the security perimeter for President Trump’s event on July 13?
    • Why was the roof of the AGR International building left unsecured?
    • How much time elapsed between identifying the shooter as a potential threat and the attempted assassination?
    • How much time elapsed between the local police officer encountering the shooter on the sloped roof and the attempted assassination?
    • Has the FBI interviewed the local police officer who encountered the shooter?
    • What does the FBI’s evaluation of the shooter’s phone and digital activity show about his actions and movements in the days and hours leading up to the attempted assassination?
    • Was the security posture at President Trump’s event limited due to resource constraints with the NATO Summit and/or First Lady Dr. Jill Biden’s event in Pittsburgh?
    • Is the FBI’s investigation limited to the shooter and his motivations or does it include the security failures that led to the attempted assassination?
    • How did communications breakdowns between various law enforcement entities affect the ability of local law enforcement and USSS to identify the shooter as a potential threat and mitigate the threat before he took action?
    • What actions did the USSS take to remove or cover President Trump after a threat was known or detected?

    Read the letter below:

    (DAILY CALLER OBTAINED) — … by Henry Rodgers

    Tyler Durden
    Thu, 07/18/2024 – 20:15

  • The 4-Day School Week: It's A Trend Across America … Despite Questionable Results
    The 4-Day School Week: It’s A Trend Across America … Despite Questionable Results

    Authored by Vince Bielski via RealClearInvestigations,

    Next month, the Huntsville School District in Arkansas will join the wave of public schools switching to a four-day week. 

    The shorter school week, which first emerged in a few rural areas decades ago, is now expanding into suburbs and smaller cities. At least 2,100 schools in half the states have embraced the three-day weekend mostly as an incentive to hire and keep teachers, prompting cheers of support from instructors, unions, and many families.  

    Despite the growing popularity of the shorter week, some researchers and lawmakers are pushing back on the strategy. While its impact on teacher shortages appears to be mixed in different districts, its harmful effects on the academic growth of students – arguably the top priority of public education – is clear. Teams of researchers examining the program in a variety of states have come to a similar conclusion: The four-day week stymies learning in math and English when instructional time is reduced, as is often the case. 

    The most authoritative multi-state study to date found that students have suffered small-to-medium negative effects, learning “significantly less” than they would have in a traditional five-day program, says co-author Emily Morton of the Center for Analysis of Longitudinal Data in Education Research.

    The push for a shorter week comes at a troubling time for public schools. Many districts remain in a tough spot in the wake of the pandemic, suffering from increased teacher turnover as well as classrooms full of students who have recovered only a small portion of months and even years of lost learning. What’s more, an unprecedented $190 billion in emergency federal aid ends in September, adding to the financial pressures on districts.

    While superintendents see the four-day week as an inexpensive way to address the need for teachers, they also risk causing further harm to students. “It’s a huge mistake to move to a four-day school week,” said Matt Kraft of Brown University, who co-wrote a paper on the influence of class time on learning. “At this moment we need to maximize instructional time to support students’ academic recovery, not reduce it.”

    But a Monday-to-Thursday or Tuesday-to-Friday week is a gamble some school leaders are willing to take. 

    Huntsville Superintendent Jonathan Warren, who led his district’s move to a four-day week before his recent retirement, has read the critical research. Initially he had reservations too. But he changed his mind after a survey of teachers and families revealed that they favored the shorter schedule by a wide margin over three other options, including the traditional five-day program. 

    To lessen the risks to students, Warren followed the advice of researchers to lengthen the remaining four school days enough so they receive at least the same amount of instructional time in math and English. He hopes students won’t fall further behind, but only time will tell. 

    “We recognize the potential risk, and we will be monitoring the metrics to make sure that the risks don’t outweigh the benefits, mostly with teacher retention,” Warren told RealClear. “If student outcomes show a drop, a dramatic drop, then it’s a no brainer to go back to traditional calendar.”

    A Movement of Rural Schools

    The four-day week hasn’t generated nearly as much attention as the culture war battles over race and gender in schools, despite the potential danger to students. It has been a quiet transformation in public education partly because, early on, only small rural districts in western states like Arizona, Colorado, New Mexico, and Oregon adopted the shorter week. 

    By 1999, 108 districts had made the switch, primarily in an attempt to save money and reduce the burden on families with long commutes in rural areas, according to a study by Paul Thompson, an economist at Oregon State University and leading expert on the trend. 

    The financial crisis of 2009 spurred the next wave of adopters looking to save money as funding for education fell in many states. By 2019, the number of four-day districts had soared six-fold to 662 in 24 states.

    But significant cost savings never materialized. Districts found that reduced expenses from building operations and busing students were minimal, or less than 2%. That’s because salaries, the biggest expense in education, don’t change for teachers and administrators when shaving a day off the week. 

    Colorado district 27J in the suburbs of Denver discovered to its surprise that the switch to four days created new costs. The district had to extend its four school days to 4:30 p.m. to increase instructional time. But that pushed sporting practices and events into the evenings, requiring the district to install lights on its softball fields and tennis courts.

    “We initially thought that if we transported kids less, it would be more savings in our pockets,” said 27J Superintendent Will Pierce. “But now we have lights on fields, costs we didn’t pay before. In the end, doing four-day has been a wash compared with five-day.” 

    The pandemic provided the impetus for the most recent round of adopters. By 2023 nearly 900 districts, or 7% of the total – all in 26 western, midwestern and southern states – had signed on, according to Thompson’s research. 

    In Colorado, almost two-thirds of its 179 districts have gone four-day. In Oregon, about 40% of districts have converted. In Missouri, it’s about one-third, including the metropolitan district of Independence, one of the largest non-rural school systems to join the parade. 

    Thompson says the shorter week is spreading partly because districts have control over the school schedule as a means to reach their goals, such as teacher retention.

    “Other avenues likely mean an influx of funding, which is often at the purview of states or local taxpayers,” he said. “In many cases the access to additional funding is minimal.” 

    The Carrot of a Three-Day Weekend

    Districts now stress a shortage of teachers to justify a four-day week, a problem exacerbated by pandemic, but that’s now in retreat in some states.

    In Arkansas, for instance, annual teacher turnover increased from 21% in 2018-2019 to 24% in 2023-2024, forcing districts to fill some of those positions with unlicensed or not appropriately certified instructors, according to Andrew Camp at the University of Arkansas. 

    In Colorado, however, teachers have been returning to the classrooms. The number of open positions went down significantly last year, according to the department of education, a sign that the supply of teachers is improving.

    Superintendents credit the three-day weekend for luring talent to their districts. Colorado’s 27J, one of the lowest paying districts in the Denver area, has historically lost experienced teachers to nearby Adams 12 district that lures them with higher compensation. Superintendent Pierce says the shorter week and recent pay raises have reduced turnover from about 23% annually before the switch to 10% last year. 

    Dale Herl, superintendent of the Independence district in Missouri, considers the shorter week a magnet for all types of workers. He told the media that the district was fully staffed with bus drivers and nurses for the first time in fifteen years because of the changeover in 2023. 

    Researchers so far haven’t found such remarkable results. A study of 27J showed that retention of experienced teachers actually fell 5% in the first year of the four-day week. In Arkansas, the shorter week improved teacher retention within 32 districts by only about 1.4 percentage points, according to a 2024 study by Camp at Arkansas.

    “Districts making the change to four days should be realistic about what they can expect to achieve,” said Camp. “They should consider other options to help deal with staffing challenges that don’t put students at risk of learning loss.”

    Camp says “grow your own” teacher programs have the potential to fill some of the shortage. Districts in several states are rolling out such programs that turn paraeducators into teachers. Some are offering paid apprenticeships that combine on-the-job and university training to address the high cost of obtaining a license, a major barrier to the supply of teachers. 

    Teacher unions have strongly supported the four-day week, and in some states like Colorado, played a pivotal role in the changeover. It requires an overhaul of almost every facet of school operations, from the curriculum and homework load to extracurricular activities, teacher training, working hours, and days off. In 27J, the labor contract had to be significantly revised over weeks of negotiations. 

    Kathey Ruybal, president of the Brighton Teachers Association, says the union backed the switch in 27J in fairness to teachers it considers underpaid at a starting salary of $52,000. Ruybal says students also benefit because the extra day off provides more time for teachers to plan lessons, collaborate over best practices, and receive training.

    “Our district would not have done the four-day without our union support,” said Ruybal, a former English teacher. “Teachers have an extreme amount of work that they have to bring home. And the four-day work week allows them to have a bit of a weekend.”

    Shortchanging Students 

    Most families and students also like the three-day weekend, according to surveys in districts. Enough parents work at home now that daycare on Fridays or Mondays isn’t a widespread problem, and some districts like 27J offer the service at a low-cost. 

    Students say they feel less stress with a three-day weekend. During the extra day off, they sleep in, chill out, catchup on homework, do chores or work at part-time jobs. Back at school, and feeling more relaxed, students are less likely to fight and bully each other, according to researchers. 

    The downside risk of more learning loss doesn’t seem too concerning to families. In the post-pandemic era, schools are putting less value on striving for good test scores and more on making students comfortable by lowering academic standards for grading and graduation. 

    In states like Oregon, however, the poor performance of students on state tests is hard to ignore. Scores are among the worst in the nation, with only 22% of eighth graders showing proficiency in math in 2022. The four-day week has only added to Oregon’s education woes. 

    Examining test results in the state’s four-day schools from 2007 to 2015, Thompson, the economist, found “detrimental impacts” in both reading and math in third through eighth grades. 

    The problem is that districts in Oregon and other states haven’t added enough time to the remaining four school days to provide students with the same amount of instruction. Compared with other states, Oregon has very low minimum instructional time requirements for its districts, at 966 hours a year for 12th graders. So, in moving to four days, Oregon districts have been able to shave off almost 3.5 hours a week in class time and still meet state mandates, according to Thompson’s study. 

    “We know that allocating sufficient time in school for students within the four-day school week can mitigate declines in student achievement,” Thompson said. “However, not all districts are able or willing to keep hours close to what they were under the five-day week, which is why we see declines in achievement.”

    Across the country, four-day students spend an average of about 1,150 hours a year in school, or 85 hours less than five-day students, according to another investigation by Thompson. In comparing instructional time in core subjects, it’s noteworthy that four-day students get 25 fewer minutes a week in math and 49 fewer minutes in English. 

    Colorado’s 27J underscores how less instructional time can complicate a district’s understanding of its academic struggles. In the six years that 27J has operated a four-day week, its test scores have worsened relative to state averages. Is the problem that its middle and high school students have received a little less instructional time? Or that more low-income students have come to the district?

    “Whether this is actually a four-day problem, a pandemic problem, or a changing demographics of our community problem, our team has tried to figure out what are the contributing factors to the drop in test scores,” Superintendent Pierce said. 

    Some four-day districts, including those in Arkansas, have done a better job in maintaining an equivalent amount of class time to the benefit of students. As a result, students in Arkansas’ 34 four-day districts haven’t suffered a drop in achievement, according to a study co-authored by Kate Barnes at the University of Arkansas. 

    Pushback

    Even as more districts shift to the four-day week, the research showing the academic risks has prompted a few states to push back on the trendy program. 

    In New Mexico, lawmakers are trying to turn around a school system that’s producing bottom-of-the-barrel test scores. A 2023 law requires districts to add between 90 and 150 instructional hours a year to what had been the state’s low minimum requirements.

    Then this year, a new rule mandating that all schools be in session for at least 180 days was met with protests from the teachers union and superintendents association. It is suing the state to protect the four-day districts that operate for about 155 days a year. 

    Missouri is dangling a carrot in front of districts to curtail the four-day week. A new law gives districts that stay or return to five days additional funding for teacher pay hikes. It also mandates that the decision of large districts like Independence to adopt a four-day schedule be put before voters for approval by July 2026. 

    State Senator Doug Beck told RealClear that he wrote the legislative provisions because of Missouri’s troubling test scores, with only 35% of students achieving proficiency in math. “Students need a traditional five-day week, with in-class instruction from a quality teacher, if we ever hope to improve these reading and math scores,” Beck said.

    The senator’s view is backed up by research showing a “clear positive effect of additional time on student achievement,” according to a paper co-authored by Brown University’s Kraft, who reviewed 74 studies on the topic. With huge differences among states in the time students spend in school, Kraft says, states on the low end like Oregon should add instructional hours to help students become proficient in math and English. 

    Despite the risks, the four-day movement continues to gather steam. In the upcoming school year, at least five more districts in Arkansas will make the shift and another one in Missouri is converting, too. And Indiana will debut its first four-day school, Vinton Elementary. 

    Vinton Principal Cindy Preston says while she has concerns about the academic impact of the shift, the longer school day will help teachers provide more meaningful learning experiences. 

    “Having that extra day off during the week will allow our students and staff to find that quality school-life balance that benefits their mental health,” Preston said. 

    Tyler Durden
    Thu, 07/18/2024 – 19:50

  • These Are America's Most Popular News Sources
    These Are America’s Most Popular News Sources

    The distribution of news in the internet era has never quite been so fractured.

    Between competing outlets, platforms, and formats, Americans can get their news from anywhere between a TikTok video to a station newspaper.

    This graphic, via Visual Capitalist’s Marcus Lu, shows the percentage of Americans who use various news sources on a weekly basis.

    More than 2,000 nationally representative Americans were surveyed in a 2024 YouGov survey commissioned by the Reuters Institute for the Study of Journalism.

    Local TV News Still Has a Foothold in America

    When it comes to traditional mediums (TV, radio, and print), local TV stations are still the most frequently used by Americans (28%). Fox News (27%) comes in at a close second.

    Multiple choices allowed. Responses do not sum to 100.

    Meanwhile, CNN ranks as the third most popular choice (23%) with ABC and CBS News (both 20%) rounding out the top five.

    As a whole, TV stations fill out the top six spots with local newspapers coming in 7th (14%). The New York Times (13%) and USA Today (12%) are the only named newspaper outlets to have double-digit responses.

    Fox News and CNN Battle For Online Audience

    However, in the digital realm, Fox News online (18%) just about takes the crown with a 1 percentage point lead over CNN.com (17%).

    Multiple choices allowed. Responses do not sum to 100.

    Local TV news websites and Yahoo! News tie for third place (16%). Both NYT and USA Today’s online editions perform better than their print counterparts.

    In fact, the Times has been seeing declining print subscriptions for the last two years, even as online-only subscribers grow. A core component of drawing more online patrons is through bundling its many services. Games like Wordle are used as a funnel to grow digital subscriptions.

    If you liked this article, check out Ranked: The World’s Most Popular Apps by Downloads for a quick overview of where people are spending their time online.

    Tyler Durden
    Thu, 07/18/2024 – 19:25

  • Ultra-Processed Foods Linked To Increased Risks For 32 Health Conditions
    Ultra-Processed Foods Linked To Increased Risks For 32 Health Conditions

    Authored by JoJo Novaes and Ben Lam via The Epoch Times (emphasis ours),

    Eating junk food is as pervasive in our current culture as eating naturally was in our not-so-long-ago past—and it shows. A systematic review published in The BMJ this year, involving 9.8 million participants, indicated an association between the consumption of ultra-processed foods and an increased risk of 32 diseases, including heart disease, cancer, Type 2 diabetes, anxiety, and premature death.

    (Oksana Mizina/Shutterstock)

    Dr. Zheng Yuanyu, former attending physician of the Infectious Disease Department at Taipei Veterans General Hospital in Taiwan, discussed the addictive nature of ultra-processed foods and strategies for managing their consumption rationally on the “Health 1+1” program.

    What Are Ultra-Processed Foods?

    Some examples of ultra-processed foods include ready-to-eat meals, packaged baked goods, snacks, sugary cereals, and carbonated drinks, according to a BMJ Group press release. These items undergo multiple industrial processing steps and typically contain colorings, emulsifiers, flavorings, and other additives. Additionally, they are often high in added sugars, fats, and salts, while being low in fiber and vitamins.

    Dr. Zheng noted that the definition of “processed foods” is broad, and not all processed foods are classified as “ultra-processed” or unhealthy. For example, he said, foods that are heated and sealed in a factory are considered minimally processed. However, some simple processed products can still be unhealthy. The most common ultra-processed foods, such as various snacks, beverages, and factory-produced cookies and bread, undergo more complex manufacturing processes and contain multiple chemical additives, resulting in a less healthy nutritional profile.

    7 Health Risks of Ultra-Processed Foods

    The BMJ review included 45 distinct studies involving over 9.8 million participants. The results multitude of adverse health outcomes revealed by the review can be broadly classified into the following seven categories:

    1. Mortality: All-cause mortality, cancer-related mortality, cardiovascular disease-related mortality, and heart disease-related mortality.
    2. Cancer: Overall cancer, breast cancer, colorectal cancer, central nervous system tumors, chronic lymphocytic leukemia, pancreatic cancer, and prostate cancer.
    3. Mental health: Poor sleep, anxiety, common mental disorders, and depression.
    4. Cardiovascular health: Cardiovascular disease, hypertension, hypertriglyceridemia, and low HDL cholesterol levels.
    5. Respiratory health: Asthma and wheezing.
    6. Gastrointestinal health: Crohn’s disease and ulcerative colitis.
    7. Metabolic health: Abdominal obesity, high blood sugar, metabolic syndrome, non-alcoholic fatty liver disease, overweight, obesity, and Type 2 diabetes.

    The researchers assessed the credibility and quality of evidence from various studies and found that excessive consumption of ultra-processed foods was particularly associated with a higher risk of cardiometabolic issues, common mental disorders, and mortality outcomes.

    Specifically, the researchers noted that “compelling evidence” indicated a higher intake of ultra-processed foods was linked to a 50 percent increased risk of cardiovascular disease-related mortality, as well as a 48 to 53 percent increased risk of anxiety and common mental disorders. Furthermore, it was associated with a 12 percent increased risk of Type 2 diabetes.

    Additionally, highly suggestive evidence showed that a higher intake of ultra-processed foods was associated with a 21 percent increased risk of all-cause mortality, a 22 percent increased risk of depression, and a 40 to 66 percent increased risk of heart disease-related mortality, Type 2 diabetes, obesity, and sleep problems.

    Dr. Zheng highlighted that while ultra-processed foods are linked to numerous diseases, this does not necessarily indicate a direct causal relationship. However, he specifically emphasized that the evidence connecting ultra-processed foods to diabetes is the most compelling, with relatively high-quality research supporting this association. Diabetes can deteriorate vascular and immune functions throughout the body, increasing the risk of various other diseases in patients already predisposed to diabetes.

    Dr. Zheng cited a study published in JAMA Network Open in 2023, which explored the association between ultra-processed foods and the risk of mental illness. The study suggested that ultra-processed foods may increase the likelihood of developing depression. The researchers tracked more than 30,000 health care professionals for 15 years and found that individuals in the highest quintile of ultra-processed food intake had a 49 percent higher risk of depression compared to those in the lowest quintile. The study revealed that eating more ultra-processed foods, especially those containing artificial sweeteners, significantly increased the risk of depression.

    The Addictive Nature of Ultra-Processed Foods

    A 2023 study published in The BMJ estimated that approximately 14 percent of adults and 12 percent of children may experience issues related to ultra-processed food addiction.

    Dr. Zheng stated that issues related to ultra-processed food addiction, much like smartphone and alcohol addiction, can significantly impact mental health. He explained that the complex ingredients in ultra-processed foods, such as refined carbohydrates and fats, can stimulate the brain to release large amounts of dopamine, reaching levels similar to those triggered by substances like nicotine and alcohol, thereby contributing to addiction.

    Furthermore, Dr. Zheng pointed out that ultra-processed foods are high in refined carbohydrates and often contain added fats and chemical additives. Due to various processing methods, these foods can produce certain effects that disrupt the body’s appetite regulation mechanisms, leading to increased calorie consumption without realizing it. The long-term accumulation of excess calories can, in turn, result in subsequent health issues.

    Health Tips for Moderating Ultra-Processed Food Intake

    In today’s environment, the temptation of ultra-processed foods is unavoidable. Dr. Zheng emphasized the importance of recognizing the addictive nature and health hazards of these foods. They should be enjoyed in moderation, avoiding excessive consumption. If signs of addiction appear, early intervention is crucial.

    Among ultra-processed foods, it is recommended to choose relatively healthier options. For instance, for breakfast, opt for cereals that are lower in sugar, sodium, and salt, and higher in fiber, while avoiding refined carbohydrates. Additionally, mixing sugary cereals with unsweetened ones can help reduce the overall sugar content.

    Dr. Zheng used a popular chocolate cake product as an example, highlighting that its ingredient list contains a significant amount of chemical additives, such as complex thickeners, emulsifiers, and agents for improving baking fat quality. Each 3.53 ounces (100 grams) of the cake contains 0.93 ounces (26.3 grams) of sugar, which accounts for over a quarter of its composition, indicating a very high sugar content, along with 0.62 ounces (17.7 grams) of fat. Dr. Zheng cautions that such a cake should not be consumed as a daily snack and should be avoided unless there is a special occasion.

    Tyler Durden
    Thu, 07/18/2024 – 19:00

  • YouTube Tightens Stranglehold On Firearms Content – Blocks All Gun Related Sponsors
    YouTube Tightens Stranglehold On Firearms Content – Blocks All Gun Related Sponsors

    When Google and YouTube first announced that they would be demonetizing a host of channels back in 2017 (including firearms related content) they said is was because advertisers were “complaining” about their ads being featured in videos that were contrary to their messaging.  In other words, the excuse was that ads embedded on firearms channels might give their customers the “wrong impression” about those companies and their products, and Google didn’t want to anger their advertising partners. 

    It’s hard to say how accurate this claim was. The exposure of ESG and Big Tech collusion with government agencies to censor conservative platforms supports the idea that there was probably an organized corporate push to suppress the political opposition on YouTube as much as there was an effort to shut them down on social media.

    The majority of conservative content creators understood that this was not about advertisers, it was about narratives.  The exploding popularity of gun channels runs contrary to the media assertion that American society is moving increasingly to the left.  And, even though gun channels mostly focus on firearms and instruction, they also promoted conservative and constitutional values which represent a thorn in the side of the establishment.

    More proof has surfaced that randomized advertising and company complaints were never the issue.  Gun related channels are reporting that Google/YouTube is not only demonetizing them, they are also no longer allowed to feature private sponsors that market gun related products.

    That is to say, YouTube tried to crush these channels by removing cash incentives.  That didn’t work because gun channels adapted and found their own outside sponsors.  So, YouTube is doubling down and denying them the option of getting ad money from any gun associated sponsor.  And apparently, what constitutes a “gun sponsor” is up to the discretion of Google.  

    The channels will still be allowed to post content, however, making any money while doing so will be increasingly difficult.  Videos posted after June 18th that include gun-related sponsors will be removed and the channel will receive a strike.  Strikes can lead to the cancellation of the entire channel.

    Remember, these are not random sponsors that work with Google, they are outside sponsors working directly with the content creators.  There is no chance that the presence of these sponsors will hurt Google in any way.  The move to stop them from working directly with creators appears to be motivated by politics, not by business.  It also showcases an active hostility within Google towards the free market. 

    The decision comes only weeks after YouTube changed their official policy on firearms videos to include possible age restrictions, along with the removal of some videos which give instructions on how to modify firearms or produce ammunition.  Ostensibly, this was to prevent the publishing of “ghost gun” and 3D printing content.   

    As long as creators continue to rely on highly centralized and controlled platforms like YouTube the potential for censorship will loom large.  These policies are rarely reversed, the restrictions only continue to grow.  Alternative platforms need to be explored (Rumble and Gunstreamer are a good start) because it’s unlikely that Big Tech will ever back away from its hostility towards conservative content.    

    Tyler Durden
    Thu, 07/18/2024 – 18:35

  • Biden Nomination Odds Collapse On Reports Of Imminent Withdrawal, Harris Reportedly Vetting Running Mates
    Biden Nomination Odds Collapse On Reports Of Imminent Withdrawal, Harris Reportedly Vetting Running Mates

    Update (2000ET): Things are escalating quickly with reports now that Biden could leave the race as soon as tomorrow.

    WaPo reports that Nancy Pelosi believes Biden can be convinced to drop out soon with Fox Business reporting that President Biden is expected to drop out as early as tomorrow...

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    Mark Halperin summed up his latest thoughts above in a post on X:

    Multiples sources outline the apparent state of play on Biden at this time:

    • Plans to announce withdrawal from nomination as early as this weekend, with Sunday most likely

    • Jon Meacham polishing up remarks

    • Biden with NOT resign the presidency

    • Biden will NOT endorse Harris

    • Open convention with Harris and about 3 others

    • Super delegates will not be allowed to vote on 1st ballot

    • Harris is vetting at least four possible running mates, including Andy Beshear and possibly Shapiro

    Biden’s odds of getting the party nomination have now utterly collapsed, barely above those of Newsom as Kamala is the lead…

    *  *  *

    Update (1130ET): It appears the situation is escalating fast in Democratic Party central this morning.

    Axios reports that President Biden may decide to drop out of the presidential race as soon as this weekend, according to several top Democrats who believe the rising pressure will persuade the incumbent.

    The 81-year-old president, now self-isolating with COVID, remains publicly dug in.

    But privately he’s resigned to mounting pressure, bad polls, and untenable scrutiny making it impossible to continue his campaign, the Democrats tell us.

    Others are reporting similar narratives and timelines building…

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    Furthermore, WaPo reports that he who pulls the real strings has weighed in…

    “Obama has told allies in recent days that President Biden’s path to victory has greatly diminished and he thinks the president needs to seriously consider the viability of his candidacy, according to multiple people briefed on his thinking.”

    The news prompted a surge in the odds of VP Kamala Harris getting the Democratic Party nomination (and collapse in Biden’s odds)…

    Source: Bloomberg

    This comes after reports of yet more gaffes by the aging Biden as he read aloud a note passed to him by a staffer during a virtual call with Democratic caucuses:

    A staffer gave the 81-year-old president a note card with tips as he attempted to persuade members of the Congressional Progressive Caucus on Saturday that he was fit to serve and able to defeat former President Donald Trump on Election Day, the New York Times reported.

    “Stay positive, you are sounding defensive,” Biden said on the call, seemingly reading directly from his staffer’s short missive.

    You can’t make this up anymore.

    Visualization of Democrats right now…

    Meanwhile, Democrats have a new slogan…

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    *  *  *

    As we detailed earlier, calls for enfeebled President Biden to call off his re-election bid are not only growing more numerous, but also more powerful, as three top Democratic officials — Senate Majority Leader Chuck Schumer, former House Speaker Nancy Pelosi, and House Minority Leader Hakeem Jeffries — have all reportedly told the president that his campaign is worse than hopeless. 

    Suggesting a coordinated effort, news about three separate conversations that happened in the last week all dropped on Wednesday. The gap between the discussions and the reports is likely attributable to a desire to first give Biden a chance to bail out gracefully race before more pressure was added using leaks to the media.

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    Pelosi was said to have shared specific polling results indicating Biden has no path to victory, and that his continued presence atop the 2024 ticket could doom the Democratic Party’s chances of re-taking control of the House. According to CNN’s sources, Biden insisted he can win, saying he’s seen polls that give him hope that it’s a closer race than other say. Trying to bolster her case, Pelosi asked longtime Biden advisor Mike Donilon join the call to review the numbers. 

    According to a Thursday report in Axios, top Democrats think Biden may decide to drop out of the presidential race as soon as this weekend.

    The seeming next step for Pelosi — and the others — would be a public statement urging Biden to quit. A Pelosi ally told Politico that such a statement is a possibility, saying, “The speaker does not want to call on him to resign, but she will do everything in her power to make sure it happens.” 

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    News of Pelosi’s conversation came soon after word that Schumer had his own pointed conversation with Biden on Saturday. In a personal visit to Biden’s home in Rehoboth Beach, Delaware, Schumer was said to have bluntly told Biden that quitting the race would be best for America and the Democratic Party.

    Like Pelosi, Schumer attempted to use polling to paint a picture for the defiant 81-year-old. While many national polls show a relatively narrow margin, what counts is the seven battleground states — and Trump is ahead in all of them. Even CNN’s John King recently showed why Trump could be on track for a landslide win. While details are thinner, ABC News reports that Jeffries also voiced the same concerns directly to Biden, politely nudging him to quit. 

    All of this came on what was already a very rough day for Biden. After looking especially weak speaking from podiums on the campaign trail, the White House announced that Biden had tested positive for Covid-19 and would return to Delaware to isolate while still performing his presidential duties. Notably, as he boarded and exited Air Force One, he was maskless — something that contravenes a leftist core belief.

    More notable than his bare face was his exceedingly frail appearance: 

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    Forget a second term — will Biden even finish his first? 

    Tyler Durden
    Thu, 07/18/2024 – 18:22

  • The Next Four Months Will Be A Political War Without Limits
    The Next Four Months Will Be A Political War Without Limits

    Authored by David Samuels via UnHerd.com,

    The 2024 political war is just beginning – The Democratic party has rigged the system

    In a moment of raw personal courage at local fair-grounds in Butler, Pennsylvania, Donald Trump upended America’s presidential race by surviving an assassin’s bullet and then leaping to his feet and punching the air while proclaiming “USA!” and “Fight! Fight! Fight!” The resulting photographs may well change America and the world in ways no one seriously imagined even last week. 

    Trump’s heroic response to an attempt on his life is a reminder of the extent to which, even in our technologically-mediated universe, the arts of narrative manipulation and framing only reach so far. At the core of every story is a human being whose character, as expressed through his actions, will be judged favourably or not by his or her fellow humans — such stories being especially important in societies where people elect their leaders, as shown by the rapturous reception that Trump received at the opening of the party’s National Convention in Milwaukee.

    Trump’s instincts under fire prove him to possess the courage of a leader, however dubious other aspects of his character may be. It is fair to surmise that there isn’t a single head of state on earth, from Emmanuel Macron to Vladimir Putin to Crown Prince Mohammed bin Salman, who wouldn’t trade a large part of their kingdoms for a photograph of themselves standing bloodied and defiant beneath their national flag, having taken an assassin’s bullet and lived. That kind of political charisma is impossible to counterfeit.     

    The images of the bloodied but defiant Trump also clearly underlined the contrast between a man who at 78 retains the physical vigour and presence of mind to take a bullet in front of a crowd, then get off the ground and shape a lasting image in the moment, and his doddering rival. Now, the sport of reading the Beltway tea leaves to determine which party figurehead might head the Democratic ticket in November has been replaced by inklings of real panic. 

    Even worse for the Democrats is Trump’s ability to seize the most valuable ground in American politics: the future. If most peoples on earth live their collective national lives somewhere between the past and the present, Americans have always been different. Their idea of their past is generally shaky and non-binding. Instead, Americans exist between the present and the future, which is why they do things like invent digital technology and the iPhone and send men to the moon and Mars.

    In the 24 hours following the assassination attempt, Trump seized the future with two bold moves. The first was attracting the public endorsement of Elon Musk, the technologist and builder who also happens to be the single wealthiest man in America. By uniting his charisma with Musk’s, Trump showed that he is not simply the backwards-looking angry white man candidate of 2016 looking to “Make America Great Again”. Rather, he is seeking to Make the American Future Great, which is a different, more inspiring, and potentially more unifying, sentiment. To underline the importance of the future, Trump then chose a Vice Presidential candidate, J.D. Vance, who is 40 years younger than he is, anointing a successor who can inherit his movement — and who could in theory serve two terms as president after Trump’s term is done.

    It’s been a while since an American political candidate was able to capture the future. Trump’s first campaign was an angry, backwards-looking affair that targeted the country’s feckless elites; Biden never bothered with the future at all. Obama, who ran his first campaign on the basis of “hope”, by his second term was largely looking abroad to repair supposed past American crimes everywhere from Iran to Cuba. A heroic Trump who has energised his base and proven his personal courage while laying claim to the future is likely to have significant appeal to American voters.

    Yet, the Democratic Party is a well-functioning, massively-funded, centrally-directed machine, capable — as it did in 2020 — of rewriting election laws to its advantage and banking millions of absentee ballots in advance of the election. By contrast, the Republican Party is a ramshackle, decentralised affair whose local worthies tend to be car dealers or pillow salesmen rather than corporate Ivy League types and lawyers. The structural imbalance between the parties has suggested that Democrats could run a cardboard cut-out of Taylor Swift for the presidency in 2024 and still win — especially given the immutable presence of the polarising Trump at the top of the Republican ticket. In fact, some polls showed Biden doing better against Trump after his doddering debate performance.

    “The Democratic Party is a well-functioning, massively-funded, centrally-directed machine.”

    Trump’s fairground heroics, therefore, hardly guarantee a win in November. To be clear, that’s because America is no longer home to a functioning two-party system, in which each of the two parties represent coalitions of regional interests and can count on the allegiance of local industries and opinion leaders. That’s a concept from political textbooks written 50 years ago. 

    Since the Nineties, America has morphed from a sprawling, continent-sized democracy to a more European-style centralised federal state with a ruling class of coastal billionaires serviced by a unitary national elite. The Democratic Party is the home of the vast majority of America’s ruling oligarchy, and of the highly-paid, well-credentialed class of lawyers, consultants, researchers, media bosses, and others with degrees from a small number of elite universities who help the oligarchs do business, as well as the class of billionaire-funded NGO workers and “organisers” who harvest votes on behalf of the Party, which is both a self-enclosed life-world and a unitary socio-political machine. Unless you intend to confine your professional life to a few far-flung, largely rural states, being a Republican in such circles, or even being insufficiently “progressive”, is a sure-fire career-ender. 

    By enforcing an ideological line that serves America’s billionaires in the name of the “oppressed”, and labelling discordant or disruptive views as either bigotry or Russian propaganda, the Democratic Party helps ease the glaring contradictions of the privileged classes it represents, while continuing on with the work of destroying the country’s middle-class and unionised labour markets and ensuring that the oligarchs don’t pay taxes. 

    The structural importance of the Democratic Party to the new American system goes deeper, though. As the institution that mediates between the country’s oligarchy, its servant class elite, and masses of dispossessed voters, who are divided up into ever-multiplying numbers of identity groups and then set against each other, the party plays a key role in making the new American system run. It coordinates the activities of bureaucrats; the sprawling network of billionaire-funded NGOs that augments the power of the bureaucracy and the party alike; the media; and academia. The party also sets the policy and hiring agendas for America’s large corporations, to the point where, before the shooting, Trump had yet to attract the endorsement of the head of a single Fortune 500 company.

    With all that socio-economic and bureaucratic power at their fingertips, it is perhaps no surprise that Democrats had long ago argued away the need to be polite to their increasingly powerless Republican opponents. Whether you were a corporate CEO, a university president, a tech baron, or head of a major American law firms, endorsing Trump meant more than social suicide; much lesser offences have reliably resulted in being aggressively targeted by NGO-led pressure campaigns NGO-led pressure campaigns and having protesters show up at your home, as well direct targeting by a federal bureaucracy that has increasingly abandoned the pose of social neutrality in favour of enforcing Party diktats on gender, race and nearly every other subject under the sun. Republicans, with the exception of a narrow group of fellow Beltway elitists, were racist, sexist, transphobic white supremacists and insurrectionists.

    One of the chief targets of the Democratic Party’s society-wide enforcement machine has been Trump himself. Since Trump left office in 2020, he has been relentlessly targeted by a series of cases that have been aggressively prosecuted by both local and federal prosecutors despite a glaring paucity of evidence to support the idea that his actions were, in fact, crimes. Actually, the legal basis for these cases was dismissed as such by authorities as various as former Democratic New York State Governor Andrew Cuomo and Democrat-appointed judges on the US Supreme Court. The recent federal case against Trump, alleging that he had committed a crime by retaining classified government documents, which resulted in a full-scale raid by armed FBI agents on his home in Florida, was thrown out yesterday by the presiding judge, Aileen Cannon, on the grounds that the appointment and funding of a special prosecutor in the case was itself “unlawful”. But the legality of the cases against Trump was never the point — which was to use the proceedings to prevent Trump from campaigning for months, while suggesting to voters that he was a criminal.

    In turn, the legal onslaught against Trump and his supporters, which began even before he took office in January 2017, was only one part of a larger, incredibly well-funded, whole-of-society campaign that the Democrats launched against a man they have ceaselessly depicted not merely as the blustering, attention-seeking buffoon that he clearly sometimes is, but as a dark Hitlerian threat to democracy. In the wake of the attempted assassination, it is the other two major components of the elite anti-Trump campaign that appear most threatening to the American future.

    In a pervasive information warfare campaign, Trump is depicted not as a political naif or a crude vulgarian, or as a deeply chaotic personality who can’t manage his way out of a paper bag, but as a sinister dictator-in-waiting, who must be stopped from attaining or exercising power at any price.

    To support this dark view, Trump was placed at the centre of a whirl of conspiracy theories which were duly reported as front-page news on a daily basis for nearly a decade. Yet to date, there is no evidence that Vladimir Putin conspired with Trump to deny Hillary Clinton her rightful victory in 2016; Clinton lost because she was a terrible candidate who blew a perfectly winnable election. No, Trump was not a paid Russian agent who communicated with Putin through a secret server in the basement of the Alpha Bank branch in Kiev. No, Trump didn’t have a secret deal with Russian businessmen to build hotels in Azerbaijan, which allowed Putin to control him. No, Trump was not taking money from Putin through intermediaries representing the Chabad Lubavitch stream of Judaism in Russia.

    Every conspiracy theory was wilder than the last, and was treated like the scoop of the century for a day or a week before disappearing without a trace. Nor was there any form of correction or consequences for the reporters and editors involved. Instead, they rewarded themselves with Pulitzer prizes. The result has been the wholesale and tragic destruction of the entire credibility of the mainstream American press. 

    Unsurprisingly, the decline in Americans being able to trust what they read, and the rise in apocalyptic political rhetoric, was matched by a corresponding rise in political violence. Trump himself was hardly innocent of involvement with political violence, even if he never exactly called the white supremacist rioters at Charlottesville “good people” — a charge that has been extensively debunked. Still, clashes between the Proud Boys (a Canadian-led Right-wing group) and other so-called patriot groups and Left-wing Antifa protesters were common in the first two years of Trump’s Presidency, lending credence to the idea that both parties were cultivating bully-boy militias. Yet, as Trump’s interest in the violent Right lessened after the first year or so of his Presidency, the Left’s reliance on violence as a political tool only increased.

    Trump’s election was greeted by large-scale riots in every major American city, some of which went on for weeks. In June 2017, Steve Scalise, the Republican majority leader in the House, was nearly killed in a mass shooting by a Bernie Sanders supporter in what the Virginia State Attorney General concluded was “an act of terrorism… fuelled by rage against Republican legislators”. A year later, in June 2018, recently appointed Supreme Court Justice Brett Kavanaugh was targeted by a California man named Nicholas Roske, who arrived at Kavanaugh’s house with a rifle before giving himself up to police, and was then indicted for attempting to assassinate Kavanaugh. Roske told investigators that he was upset over the leaked Supreme Court draft opinion overturning Roe v. Wade as well as the potential for Kavanaugh to help loosen gun laws in the country. 

    The steady drum-beat of calls to public disorder from the Left during Trump’s Presidency reached its apogee in the run-up to the 2020 election, where rioters acting under various banners, from Black Lives Matter to Antifa, trashed the shopping districts of over 20 major American cities. In cities such as Portland, nightly battles between the police and Molotov-cocktail-wielding demonstrators went on for months, becoming a form of nightly street theatre in which young masked attackers threw bombs at police and federal buildings while teams of Democratic Party-aligned NGO lawyers stood ready to get offenders out of jail. As the damage mounted, and local panic increased, violent protesters in Democrat-led municipalities, most of whom turned out to be from upper middle-class Democratic families, seldom faced any consequences for their actions, with celebrities and others offering to bail them out. 

    “The party’s message was that Donald Trump, not the rioters, was responsible for the scary scenes shown nightly on television.”

    With the attempted assassination of Trump, the political and social stakes have once again been raised, in a system that seems ill-equipped to meet such a significant challenge. Any attempt at return to a procedural normalcy that was already badly weakened before Trump took office seems entirely beyond the capacity of America’s callow and insulated elites, which have lost themselves for nearly a decade in the fantasy cosplay of anti-Trump.

    What we will witness over the next four months will be an election campaign pitting the hero figure of a bloodied but unbowed Trump, a man despised by nearly half the country, against the anti-democratic manoeuvrings of the country’s institutional elite, as exemplified by whichever hand-picked candidate Democratic Party insiders choose to field against him. The resulting campaign will be a game without limits, in which the level of violence seems likely to escalate — which will further diminish the interest or ability on either side to acknowledge a victory by the other. Americans are about to find out what it feels like to live in a country at war with itself — no matter who wins the presidency in November.

    Tyler Durden
    Thu, 07/18/2024 – 18:10

  • Los Angeles Filming Bust Deepens With Sharp Decline In Reality TV
    Los Angeles Filming Bust Deepens With Sharp Decline In Reality TV

    FilmLA, the partner film office for the City and County of Los Angeles and other local jurisdictions, released a new report on Wednesday that detailed film production continued dropping in the second quarter due to an ongoing slowdown in content spending and Hollywood still reeling from post-strike paralysis.

    Local on-location filming fell 12.4% year-over-year from April through June, reaching 5,749 shooting days in the quarter. There were declines in feature film production (-3.3% to 704 shooting days) and commercial production down 5% to 817 shooting days – both are minor declines compared with the crash in unscripted television production. 

    “Filming of Reality TV fell -56.9 percent to 868 SD, taking the broader Television category (down -27.7 percent to 1,901 SD) lower with it,” FilmLA wrote in the report. 

    Source: Bloomberg

    Inversely, the report noted, “Elsewhere within the Television category, scripted content production increased substantially for the period, compared to the earliest strike-affected months of 2023. TV Drama production rose 98.3 percent to 714 SD, and TV Comedy production rose 103.6 percent to 171 SD, while filming for TV Pilots rose 54.5 percent to 17 SD.” 

    Bloomberg was the first to cover FilmLA’s new report, indicating the slowdown in shooting days stems from “studios began cutting production and firing staff under pressure from investors to show a profit in streaming” in the second half of 2021. Compound this with the labor actions by workers in the Los Angeles entertainment industry last year that halted production. However, striking actors and writers have resolved their labor contracts with studios. 

    Decreasing shooting days paint a grim picture for the industry, while the streaming downturn intensifies with Netflix cutting back on shows and hundreds of workers from Amazon Prime and MGM Studios being laid off earlier this year.

    Bloomberg cited data from Creative Economy showing that LA’s entertainment industry workforce contracted by 16% last year. 

    Most Americans couldn’t care less about the Hollywood film bust. Studios have been churning out “woke” content that many find unappealing. Additionally, the threat of AI continues to loom over the remaining workers.

    Tyler Durden
    Thu, 07/18/2024 – 17:45

  • How To Break Ranks And Escape The Democrats' Plantation
    How To Break Ranks And Escape The Democrats’ Plantation

    Authored by Guy Shepherd via The Blaze,

    What if enough minorities — Latinos, African Americans, Jews, and Asians — broke ranks with their default political loyalties and split their vote this November?

    erhui1979/Getty Images

    If the taken-for-granted and ill-served among these groups just split their vote to reflect their present dissatisfaction, their political power would tangibly increase within both parties overnight.

    Put it this way: Instead of one seat at the Democratic table that is not serving you and yours, you would have seats at two tables — both competing to serve you and yours. It’s a pretty good deal. So, why is it not being pursued aggressively?

    Politics is the art (and science) of understanding what’s possible and making it happen.

    Smart Republicans understand that this election will be won with (and lost without) a big swing in Hispanic support. Democrats’ black, Jewish, and Asian blue wall appears to show signs of cracking, and this vulnerability is gaining electoral polling attention.

    If enough of this cohort walked away from the Democratic camp, it would mark a tectonic shift in American politics. It would push the Democratic Party back to the center — a good, salutary development, and far from where it currently resides.

    A whisper to dissatisfied Democrats: Please don’t register and vote as independents. It’s such a political waste.

    Independents come in two primary political colors: embarrassed Democrats and embarrassed Republicans. Only 10% of independents are truly independent — that is, nonaffiliated.

    Traditionally, these two dissatisfied voting blocs vote for the brand and party that they disavowed for doing them dirty when Election Day comes around. Doing so is a form of political Stockholm Syndrome, which is when you identify with and support your captors. It’s worse than a wasted vote. Independents know what the problem is — yet they still contribute to it.

    That might not be completely fair. In the 2020 presidential election and the 2022 midterms, dissatisfied Republicans and their adjacent independent cohort crossed partisan lines and contributed to the Democratic win. In their defense, they wanted their establishment, deep-state perks back and their more liberal spouses, kids, and friends to stop hating them. (Kellyanne and George Conway are notable exceptions to this broad-brush rendering).

    But dissatisfied Democrats and adjacent independents have not reciprocated. They consistently fail to do their part, and, in doing so, they send a confusing, illiberal message: that it’s OK to turn up the woke heat, when all the polling data suggests otherwise.

    Ruy Teixeira over at the Liberal Patriot— a must read on Substack — has captured the growing divide within the Democratic and adjacent independent ranks. The dissatisfaction runs deep and wide. But in contrast to dissatisfied Republicans and adjacent independents, dissatisfied Democrats and adjacent independents have shown a structural inability to cross the political picket line and send a clear “knock-it-off” message at the polling both.

    As a result, the “wash, rinse, repeat” insanity of Democratic partisan politics continues and probably will do so again this November. This is the leading reason why “We, the People” can’t have nice things and why we are not currently enjoying a happy, well-adjusted, pursuit-of-happiness-oriented 21st century.

    Who can lead the way out of this illiberal, woke madness?

    Dissatisfied Democratic men — or so the polling suggests. Males across blue-wall ethnic cross-tabulations are rightfully unhappy, more than concerned by the madness, and want better.

    In contrast, the ladies have not budged in their commitment to the party in power and its woke program. And herein lies the challenge.

    This is the unstated reason Democratic men don’t stage a political walkout in the requisite numbers: It would infuriate the women in their lives and raise the heat on them at home. Not just from their girlfriends, wives, and daughters, but from their mothers and grandmothers, not to mention church ladies. The blue wall is devoutly defended by women.

    I come from an Irish, New Deal, Democratic family. My grandfather was a machine politician. But it was my grandmother who was the enforcer of political faith and morals. She has been gone for more than a decade, but her stay-on-the-political-reservation voice and influence is still felt and followed within our extended clan. Might my experience be typical among Democratic households, as well as among mating and dating partners?

    I think it is. But more importantly, what do our politically unsatisfied and potentially tectonic-plate shifting Democratic men, stuck on the sidelines, think is holding them back? There is not a poll to consult on this yet. You need to look inside yourself for the answer.

    What’s a conflicted guy to do?

    How about following your political gut in the polling booth?

    The polling booth remains a “safe space” for now. You don’t have to share your voting choices with anyone, including your loved ones. Just vote based on what you think is best politically for you, your family, your job, and your country.

    When the election results are tallied — it might take a few days for Pennsylvania to come in — and the message is sent, you’re not obliged to take credit for what has happened.

    Just say, “Wow.” Ask the women in your lives what they think happened and listen patiently. Shake your head in supportive disbelief.

    “Wow.”

    If asked for your thoughts, say something like this: “I guess, for the silent majority of American voters, the bad-orange-boogie-man card we played was less scary than the woke-boogie-woman-and-party-in-charge-for-the-past-four-years card.”

    You might add: “My read going forward is that the Democratic Party needs to find the winning, common-sense center, or else it’s going to lose even more of the base that it has taken for granted and served so poorly for years.”

    Throw in one more “wow” if you think it will help. And leave it at that.

    Guy Shepherd is founder and editor of Planned Man.

    Tyler Durden
    Thu, 07/18/2024 – 17:20

  • Federal Appeals Court Blocks Entirety Of Biden's Student Debt Relief Plan
    Federal Appeals Court Blocks Entirety Of Biden’s Student Debt Relief Plan

    Hours after Joe Biden read that his administration will direct another $1.2 billion in debt forgiveness for 35,000 student borrowers, the federal 8th Circuit Court of Appeals just shut the whole thing down. In other words, taxpaying plumbers and electricians will no longer pay for debts voluntarily taken out by those who now can’t afford to pay them.

    In a Thursday ruling, the Court granted a motion for an administrative stay filed by a group of Republican-led states which sought to invalidate the Biden administration’s entire student loan forgiveness program. The order prohibits the administration from implementing any aspect of the SAVE plan – much of which had already been blocked by lower court rulings.

    Two separate legal challenges to Biden’s SAVE plan have worked their way through the courts. In June, federal judges in Kansas and Missouri issued separate rulings that blocked much of the administration’s plan to provide a faster path towards loan cancellation and reduce monthly income-based repayment from 10% to 5% of a borrower’s discretionary income. –AP

    Today’s order from the 8th circuit blocks a ruling by the 10th Circuit Court of Appeals allowing the department to proceed with lowered monthly payments.

    The Department of Education says it’s reviewing the ruling.

    “Our Administration will continue to aggressively defend the SAVE Plan — which has been helping over 8 million borrowers access lower monthly payments, including 4.5 million borrowers who have had a zero dollar payment each month,” said the administration. “And, we won’t stop fighting against Republican elected officials’ efforts to raise costs on millions of their own constituents’ student loan payments.”

    Tyler Durden
    Thu, 07/18/2024 – 16:55

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Jul 18

Today’s News 18th July 2024

  • A Time Of Shame And Sorrow: When It Comes To Political Violence, We All Lose
    A Time Of Shame And Sorrow: When It Comes To Political Violence, We All Lose

    Authored by John & Nisha Whitehead via The Rutherford Institute,

    “Whenever any American’s life is taken by another American unnecessarily—whether it is done in the name of the law or in the defiance of law, by one man or a gang, in cold blood or in passion, in an attack of violence or in response to violence—whenever we tear at the fabric of life which another man has painfully and clumsily woven for himself and his children, the whole nation is degraded.”

     – Robert F. Kennedy on the assassination of Martin Luther King Jr. (1968)

    There’s a subtext to this assassination attempt on former President Trump that must not be ignored, and it is simply this: America is being pushed to the brink of a national nervous breakdown.

    More than 50 years after John F. Kennedy, Martin Luther King Jr., and Robert F. Kennedy were assassinated, America has become a ticking time bomb of political violence in words and deeds.

    Magnified by an echo chamber of nasty tweets and government-sanctioned brutality, our politically polarizing culture of callousness, cruelty, meanness, ignorance, incivility, hatred, intolerance, indecency and injustice have only served to ratchet up the tension.

    Consumed with back-biting, partisan politics, sniping, toxic hate, meanness and materialism, a culture of meanness has come to characterize many aspects of the nation’s governmental and social policies. “Meanness today is a state of mind,” writes professor Nicolaus Mills in his book The Triumph of Meanness, “the product of a culture of spite and cruelty that has had an enormous impact on us.”

    This casual cruelty is made possible by a growing polarization within the populace that emphasizes what divides us—race, religion, economic status, sexuality, ancestry, politics, etc.—rather than what unites us: we are all Americans, and in a larger, more global sense, we are all human.

    This is what writer Anna Quindlen refers to as “the politics of exclusion, what might be thought of as the cult of otherness… It divides the country as surely as the Mason-Dixon line once did. And it makes for mean-spirited and punitive politics and social policy.”

    This is more than meanness, however.

    We are imploding on multiple fronts, all at once.

    This is what happens when ego, greed and power are allowed to take precedence over liberty, equality and justice.

    This is the psychopathic mindset adopted by the architects of the Deep State, and it applies equally whether you’re talking about Democrats or Republicans.

    Beware, because this kind of psychopathology can spread like a virus among the populace.

    As an academic study into pathocracy concluded, “[T]yranny does not flourish because perpetuators are helpless and ignorant of their actions. It flourishes because they actively identify with those who promote vicious acts as virtuous.”

    People don’t simply line up and salute. It is through one’s own personal identification with a given leader, party or social order that they become agents of good or evil. To this end, “we the people” have become “we the police state.”

    By failing to actively take a stand for good, we become agents of evil. It’s not the person in charge who is solely to blame for the carnage. It’s the populace that looks away from the injustice, that empowers the totalitarian regime, that welcomes the building blocks of tyranny.

    This realization hit me full-force a few years ago. I had stopped into a bookstore and was struck by all of the books on Hitler, everywhere I turned. Yet had there been no Hitler, there still would have been a Nazi regime. There still would have been gas chambers and concentration camps and a Holocaust.

    Hitler wasn’t the architect of the Holocaust. He was merely the figurehead. Same goes for the American police state: had there been no Trump or Obama or Bush, there still would have been a police state. There still would have been police shootings and private prisons and endless wars and government pathocracy.

    Why? Because “we the people” have paved the way for this tyranny to prevail.

    By turning Hitler into a super-villain who singlehandedly terrorized the world—not so different from how Trump is often depicted—historians have given Hitler’s accomplices (the German government, the citizens that opted for security and order over liberty, the religious institutions that failed to speak out against evil, the individuals who followed orders even when it meant a death sentence for their fellow citizens) a free pass.

    This is how tyranny rises and freedom falls.

    None of us who remain silent and impassive in the face of evil, racism, extreme materialism, meanness, intolerance, cruelty, injustice and ignorance get a free pass.

    Those among us who follow figureheads without question, who turn a blind eye to injustice and turn their backs on need, who march in lockstep with tyrants and bigots, who allow politics to trump principle, who give in to meanness and greed, and who fail to be outraged by the many wrongs being perpetrated in our midst, it is these individuals who must shoulder the blame when the darkness wins.

    “Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate, only love can do that,” Martin Luther King Jr. sermonized.

    The darkness is winning.

    It’s not just on the world stage we must worry about the darkness winning.

    The darkness is winning in our communities. It’s winning in our homes, our neighborhoods, our churches and synagogues, and our government bodies. It’s winning in the hearts of men and women the world over who are embracing hatred over love. It’s winning in every new generation that is being raised to care only for themselves, without any sense of moral or civic duty to stand for freedom.

    John F. Kennedy, killed by an assassin’s bullet five years before King would be similarly executed, spoke of a torch that had been “passed to a new generation of Americans—born in this century, tempered by war, disciplined by a hard and bitter peace, proud of our ancient heritage—and unwilling to witness or permit the slow undoing of those human rights to which this nation has always been committed, and to which we are committed today at home and around the world.”

    Once again, a torch is being passed to a new generation, but this torch is setting the world on fire, burning down the foundations put in place by our ancestors, and igniting all of the ugliest sentiments in our hearts.

    This fire is not liberating; it is destroying.

    We are teaching our children all the wrong things: we are teaching them to hate, teaching them to worship false idols (materialism, celebrity, technology, politics), teaching them to prize vain pursuits and superficial ideals over kindness, goodness and depth.

    We are on the wrong side of the revolution.

    “If we are to get on to the right side of the world revolution,” advised King, “we as a nation must undergo a radical revolution of values. We must rapidly begin the shift from a thing-oriented society to a person-oriented society.“

    Freedom demands responsibility.

    Freedom demands that we stop thinking as Democrats and Republicans and start thinking like human beings, or at the very least, Americans.

    JFK was killed in 1963 for daring to challenge the Deep State.

    King was killed in 1968 for daring to challenge the military industrial complex.

    Robert F. Kennedy offered these remarks to a polarized nation in the wake of King’s assassination:

    “In this difficult day, in this difficult time for the United States, it is perhaps well to ask what kind of a nation we are and what direction we want to move in. [Y]ou can be filled with bitterness, with hatred, and a desire for revenge. We can move in that direction as a country, in great polarization…filled with hatred toward one another. Or we can make an effort … to understand and to comprehend, and to replace that violence, that stain of bloodshed that has spread across our land, with an effort to understand with compassion and love… What we need in the United States is not division; what we need in the United States is not hatred; what we need in the United States is not violence or lawlessness; but love and wisdom, and compassion toward one another, and a feeling of justice toward those who still suffer within our country, whether they be white or they be black.”

    Two months later, RFK was also killed by an assassin’s bullet.

    Fifty-plus years later, we’re still being terrorized by assassins’ bullets, but what these madmen are really trying to kill is that dream of a world in which all Americans “would be guaranteed the unalienable rights of life, liberty, and the pursuit of happiness.”

    We haven’t dared to dream that dream in such a long time.

    But imagine…

    Imagine what this country would be like if Americans put aside their differences and dared to stand up—united—for freedom.

    Imagine what this country would be like if Americans put aside their differences and dared to speak out—with one voice—against injustice.

    Imagine what this country would be like if Americans put aside their differences and dared to push back—with the full force of our collective numbers—against government corruption and despotism.

    As I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, tyranny wouldn’t stand a chance.

    Tyler Durden
    Wed, 07/17/2024 – 23:40

  • Short Bursts Of Intense Exercise For 6 Months Can Reduce Cognitive Decline: Research
    Short Bursts Of Intense Exercise For 6 Months Can Reduce Cognitive Decline: Research

    Authored by Monica O’Shea via The Epoch Times,

    High-intensity interval exercise for just six months could be enough to improve cognitive function in older adults for up to five years, Australian scientists have found.

    Researchers at the University of Queensland’s Brain Institute recruited a large group of healthy adults aged 65 to 85 for a six-month exercise program.

    The volunteers undertook cognition testing as part of the study, along with high-resolution brain scans.

    Five years later, researchers followed up with these older volunteers and found they had better cognition, even if they ceased exercising at the conclusion of the study.

    Emeritus Professor Perry Bartlett said six months of high-intensity interval training is enough to “flick the switch.”

    “If we can change the trajectory of ageing and keep people cognitively healthier for longer with a simple intervention like exercise, we can potentially save our community from the enormous personal, economic, and social costs associated with dementia,” he said.

    The research, published in Aging and Disease, involved examining the results of three different types of exercise—low, medium, and high intensity.

    The low-intensity exercise involved balance and stretching, while medium-intensity exercise involved brisk walking on a treadmill.

    The high-intensity exercise, however, involved four cycles of running on a treadmill at near-maximum exertion.

    The participants were randomly assigned to one of these three exercise interventions and attended 72 sessions during a six-month time frame.

    Qualified exercise physiologists supervised all sessions to ensure personalised target heart rates were reached and maintained during the sessions.

    In earlier pre-clinical work, the researchers discovered exercise can activate stem cells and boost the production of neurons in the hippocampus, where long-term memories are stored, thus improving cognition.

    However, this study was the first of its kind to their knowledge that found “exercise can boost cognition in healthy older adults not just delay cognitive decline.”

    High-Intensity Exercise Led to Cognitive Improvement

    Queensland Brain Institute research fellow Daniel Blackmore explained that only high-intensity interval exercise resulted in a cognitive improvement that lasted five years.

    “On high-resolution MRI scans of that group, we saw structural and connectivity changes in the hippocampus, the area responsible for learning and memory,” he said.

    “We also found blood biomarkers that changed in correlation to improvements in cognition.”

    Biomarkers can indicate how the body is responding to a disease or treatment.

    Mr. Blackmore was optimistic about the findings, as they could inform exercise guidelines for older adults.

    The researcher noted one in three people aged over 85 were likely to develop dementia, meaning the impact of the research is “far-reaching.”

    Further research could look at varying types of exercise and how they can be incorporated into aged care, he explained.

    “We are now looking at the genetic factors that may regulate a person’s response to exercise to see if we can establish who will and will not respond to this intervention,” he said.

    “The use of biomarkers as a diagnostic tool for exercise also needs further research.”

    The paper highlighted ageing dementia, including Alzheimer’s disease, could impact more than 130 million people around the world by 2050.

    “Delaying the onset of dementia by five years would result in a decreased prevalence of 41 percent by 2050,” the paper stated.

    “Therefore, it is critical to identify approaches that delay, slow, or even reverse age-associated cognitive decline. Modifiable lifestyle factors such as physical activity have been proposed to be effective at altering the trajectory of aging dementia.”

    The study received support from the Stafford Fox Medical Research Foundation.

    Exercise and Cognition Link ‘Weak’

    Meanwhile, a separate review published in the Journal of the American Medical Association in February 2024 found physical activity was linked to better life cognition. But this association was “weak.”

    However, even a weak association is important from a population health perspective, the authors noted.

    “This systematic review and meta-analysis found that the association between physical activity and cognitive decline was very small, with no evident dose-response association,” the paper states.

    “With that said, even weak associations can be clinically significant from a population health perspective when physical activity continues over decades.”

    The authors said not very many “high quality” studies had been included in the review and suggested longer follow-up times.

    “Further high-quality cohort studies with follow-ups longer than 10 to 20 years, fine-grain measures of physical activity and cognition at baseline, and high participation and follow-up rates are needed to solidify the evidence base in this area,” they stated.

    Tyler Durden
    Wed, 07/17/2024 – 23:15

  • Trump's Churchillian Moment: How The Near-Miss Assassination Hit The Mark With Press & Pundits
    Trump’s Churchillian Moment: How The Near-Miss Assassination Hit The Mark With Press & Pundits

    Authored by Jonathan Turley,

    Winston Churchill once famously said that “nothing in life is so exhilarating as to be shot at without result.”

    For Donald Trump, the failed assassination attempt in Pennsylvania could prove politically exhilarating. After rising with a fist pump and a call to fight on, Trump seems to have gone from being a movement to a mythological figure with his supporters.  All he needs now is a big blue ox named Babe to return to the campaign trail.

    This assassination attempt should also concentrate the minds of everyone on the escalating rhetoric in this campaign, particularly the media in maintaining inflammatory narratives. Yet, the hateful and unhinged language has continued unabated from academics declaring that the assassination attempt was staged to those who complain that the only problem was that Thomas Matthew Crooks missed.

    For years, Democrats have repeated analogies of Trump to Hitler and his followers to brownshirted neo-Nazis.  Indeed, defeating Trump has been compared to stopping Hitler in 1933.

    The narrative began as soon as Trump was elected when the press and pundits uniformly and falsely claimed that Trump had praised neo-Nazis and Klansmen in 2017 as “fine people” in Charlottesville.

    Watching Trump’s statement at the time, it was clear to most of us that Trump condemned the neo-Nazis and that the statement about “fine people on both sides” was in reference to the debate over the removal of historic statues.

    It took six years for Snopes to finally have the courage to do a fact check and declare the common attack to be false.

    It did not matter. The press and politicians have hammered away at the notion that Trump is seeking to end democracy and that everyone from gay people to reporters will be “disappeared.”

    After the Supreme Court’s recent ruling on presidential immunity, Rachel Maddow went on the air with a hysterical claim that “death squads” had just been green lighted by conservatives. Democratic strategist Jame Carville insists that Trump’s reelection will bring “the end of the Constitution.”

    It is all what I call “rage rhetoric” in my new book, “The Indispensable Right: Free Speech in an Age of Rage.” The book explores centuries of rage politics and political violence. This is not our first age of rage but it could well be the most dangerous.

    Two years before the assassination attempt, I appeared before the Senate Judiciary Committee to testify on the expansion of domestic terrorism investigations. Democrats were seeking to pressure the FBI to focus on far-right groups as potential terrorist groups. The use of political views rather than conduct has been used historically to crackdown on groups from socialists to anarchists to feminists.

    The narrative that the threat of violence is coming primarily from the Right is demonstrably false but consistently echoed in the media.

    We have seen a growing level of leftist violence in the last decade. That includes riots in cities like Portland and Seattle where billions of dollars of damage occurred, hundreds of officers injured, and many citizens killed. In 2020 alone, 25 people were killed in the protests.

    The Democrats often raise the Jan. 6th riot and it is important to acknowledge that the damage extended to an attack on our constitutional process. However, the preceding protest around the White House caused more injuries and more property damage. Then President Trump had to be removed to a safe location as Secret Service feared a breach of the White House.

    There were a reported 150 officers injured (including at least 49 Park Police officers around the White House) in the Lafayette Park riot. Protesters caused extensive property damage including the torching of a historic structure and the attempted arson of St. John’s Church.

    Mass shootings by leftist gunmen have repeatedly occurred but those are treated as one offs while any conservative shooter is part of a pattern of right-wing violence.

    Keith Ellison, the Democratic attorney general of Minnesota, mocked the notion of liberal violence. In one tweet, he declared  “I have never seen @BernieSanders supporters being unusually mean or rude. Can someone send me an example of a ‘Bernie Bro’ being bad. Also, are we holding all candidates responsible for the behavior of some of their supporters? Waiting to hear.”

    Republican Representative Steve Scalise of Louisiana replied dryly: “I can think of an example.” Scalise was severely wounded at the 2017 shooting at a congressional baseball game practice by a Sanders supporter.

    Ellison was a particularly ironic Democratic politician to repeat this mantra. When he was the Democratic National Committee deputy chair, Ellison praised Antifa, a violent anti-free speech group that regularly attacks conservatives, pro-lifers, and others.

    Ellison said Antifa would “strike fear in the heart” of Trump. This was after Antifa had been involved in numerous acts of violence and its website was banned in Germany.

    Ellison’s son, Minneapolis City Council member Jeremiah Ellison, declared his allegiance to Antifa in the heat of the protests this summer. When confronted about Antifa’s violence, then House Judiciary Chairman Jerry Nadler denied that the group existed. Likewise, Joe Biden has dismissed objections to Antifa as just “an idea.”

    In the meantime, Biden has called Trump and his supporters “enemies of the people.” He recently said that the threat to democracy was so great that debates are no solution: “we’re done talking about the debate, it’s time to put Trump in a bullseye.”

    Even after the attempted assassination of Justice Brett Kavanaugh, the media has failed to see a pattern while stoking the claim of a right-wing violent movement.

    In the meantime, Democrats previously filed to strip Secret Service protection from Trump. The former Chair of the J6 Committee and the ranking Democrat on the House Homeland Security Committee introduced the legislation, called Denying Infinite Security and Government Resources Allocated toward Convicted and Extremely Dishonorable (DISGRACED).

    The press and pundits continue to tell Americans that Trump and his supporters are going to kill democracy and probably those they love. While most people dismiss the rage rhetoric, there are some who take it as a license to take the most extreme action.

    We are still learning about Thomas Matthew Crooks, 20, who was killed after trying to assassinate Trump.

    A registered Republican, Crooks gave money to ActBlue to support Democratic candidates.

    Yet, we know him all too well. He is likely to be found to be a lonely, unhinged individual who found meaning in an attempted political murder.

    Thomas Crooks like Nicholas Roske (who tried to kill Justice Kavanaugh) are the faces that watch from the political shadows. They hear leaders telling them to stop the Nazis before democracy dies . . . and they believe them.

    As for Democrats, the anger evident every night on cable networks may reflect a degree of insecurity about becoming the very thing that they are campaigning against. It is time for the party to look around to take stock of its anti-democratic policies.

    Democratic secretaries of state have sought to block not just Trump but third-party candidates from ballots to prevent voters from supporting them.

    They have called for cleansing ballots of over 120 other Republicans. They have supported censorship, blacklisting, and other attacks on free speech.

    As a lifelong Democrat, I have repeatedly asked what we have become in this age of rage. If we embrace groups like Antifa, oppose free speech, and cleanse ballots, we will have little beyond our rage to sustain us.

    Tyler Durden
    Wed, 07/17/2024 – 22:50

  • Hundreds Of Failing Water Systems In California Need Funding For New Infrastructure
    Hundreds Of Failing Water Systems In California Need Funding For New Infrastructure

    Authored by Summer Lane via The Epoch Times,

    Nearly 400 public water systems in California have failed to meet recommended safety standards for drinking water, according to a report last month from the State Water Resources Control Board, but a new climate bond measure recently joined the state’s November ballot may help.

    Some 913,000 Californians, approximately 2 percent of the state’s population, are potentially affected by 385 failing public water systems according to the report.

    Fifty-six of those systems “serve disadvantaged communities and 67 percent serve majority communities of color.”

    The annual report identifies California drinking water challenges, part of an effort to improve access to safe drinking water started by former Gov. Jerry Brown. He signed Assembly Bill 685 into law in 2012, establishing that “every human being has the right to safe, clean, affordable, and accessible water adequate for cooking consumption, cooking, and sanitary purposes.”

    The water board defines a failing water system as one that does not provide “an adequate and reliable supply of drinking water which is at all times pure, wholesome, and potable.”

    The report provided an example of two water systems where they found both exceeded the maximum contaminant level for 1,2,3-trichloropropane, a man-made carcinogenic chemical sometimes found in hazardous wastes.

    Failing water system areas tend to have a “higher percentage of households in poverty” and are mostly larger households, according to the report.

    The number of failing systems has increased over the past two years. A 2022 report from the water board found that 347 such systems in California were failing, affecting over 846,000 people.

    The highest concentration of failing water systems is in Kern County, for example, where small water systems and domestic wells are already located in areas with a “high risk” of contamination and water shortages.

    Rural and disadvantaged areas are hardest hit by water quality problems, and it’s an issue that ultimately comes down to poor planning, according to Don Wright, the founder of the agricultural water policy news site WaterWrights.

    Disadvantaged communities like Cantua Creek in Fresno County “were packed in too tight together,” with septic systems planted nearby. The region was formerly a migrant labor camp and was never set up to support the water needs of over 500 residents.

    Mr. Wright called it a “failure of zoning management” and said places like that were “not designed to be municipalities.”

    Many of the failures of these small water systems are simply the result of outdated equipment. Wells may often exceed their usable life and need to be replaced with new ones, he said.

    Water pumped up from an underground well flows into a cistern on a farm in Fresno, Calif., on July 24, 2021. (Robyn Beck/AFP via Getty Images)

    Mr. Wright also pointed out that some of the chemicals found during water testing were the result of nature. “Arsenic is naturally occurring in the soil [in the valley],” he said.

    “Farmers don’t fertilize with arsenic, these things happen naturally,” he stated.

    Echoing the concerns of Mr. Wright, state water board’s spokesman Dmitri Stanich told The Epoch Times there is a “multitude of reasons small systems can fail” as many of them are out of date without outside water sources or adequate resources for proper maintenance.

    “Smaller and rural systems are at most risk of failing as they typically do not have the resources to mitigate contamination incursion, cannot maintain their systems to needed technological standards, nor do they have alternative sources of water,” he said.

    Earlier this month, California lawmakers passed a proposal to place on the November ballot a $10 billion environmental bond addressing water, wildfire, and air quality concerns. According to experts, it could be a step toward a solution to water problems plaguing the state.

    If approved by voters, the bond would fund safe drinking water infrastructure, climate solutions, flood and water resilience initiatives, and clean air programs, its co-author Democrat Assemblyman Eduardo Garcia told The Epoch Times.

    Crops are flooded after a storm outside of Fresno, Calif., on March 12, 2023. (John Fredricks/The Epoch Times)

    Mr. Garcia called the bond “historic” because it allocates 40 percent to disadvantaged communities.

    The largest concentration of failing water systems in California is in Kern County in the Bakersfield region, with 58.

    The Kern County Health Department declined to comment on the report.

    Madera County, near Fresno, has the highest proportion of systems on the verge of failing whereas Bay Area counties like San Francisco and Alameda have the least.

    The Community Water Center, a water quality advocacy group based in San Joaquin Valley, said in June in response to the water assessment report that $15 billion was needed to improve California’s water infrastructure.

    They told The Epoch Times July 9 the funding was “not on par with the needs outlined by [the board]” but was nevertheless“crucial” for communities.

    If approved by voters, the climate bond will allot $3 billion to developing safe drinking water systems, as well as drought, flood, and water resilience programs—significantly less than what advocacy groups have recommended.

    Representatives for advocacy groups declined to comment after the climate bond was approved for the ballot.

    Last month, the state water board also proposed plans to distribute $855 million in financial assistance over the next year to safe drinking water projects in the state, according to a June 25 statement.

    Tyler Durden
    Wed, 07/17/2024 – 22:00

  • In 2025, Global Emoji Count Could Grow To 3,790
    In 2025, Global Emoji Count Could Grow To 3,790

    Emojis have become a staple of electronic communication since their inception in the 1990s and people of all ages and on all continents love to use them. While their number keeps on growing every year due to new releases by the Unicode Consortium, the pictograms are increasingly vying for users’ attention as other forms of visual communication – think gifs, stickers and avatars – are experiencing their heyday.

    With myriads of emojis released over the previous years, new batches have become smaller. A recently suggested update that would grow the number of emojis to almost 3,800 next year only contains eight new pictograms – the smallest release in more than 10 years. While 2022 had seen the release of 112 new emojis, that number was just 31 in 2023, while rising again to 118 in 2024 due to emojis that allow users to pick different skin colors or genders (which are counted individually) driving up the size of releases.

    However, as Statista’s Katharina Buchholz shows in the chart below, the number of non-customizable emojis has decreased with each release.

    New 2025 icons would include the beetroot, the shovel and the flag of British Channel Island Sark – showing how emoji makers are seemingly running out of ideas (despite taking submissions from the public). The Unicode Consortium has recommended the emojis for release, but the final decision is still outstanding.

    What emojis appear on people’s phones and on their social media platforms is not arbitrary but has been coordinated by the Unicode Consortium since 1995, when the first 76 pictograms were adapted by the U.S. nonprofit. The Consortium has been overseeing the character inventory of electronic text processing since 1991 and sets a standard for symbols, characters in different scripts and – last but not least – emojis, which are encoded uniformly across different platforms even though illustration styles may vary between providers.

    Despite the first Unicode listings predating them, a 1999 set of 176 simple pictograms invented by interface designer Shigetaka Kurita for a Japanese phone operator is considered to be the precursor of modern-day emojis. The concept gained popularity in Japan and by 2010, Unicode rolled out a massive release of more than 1,000 emojis to get with the burgeoning trend – the rest is history…

    Infographic: In 2025, Global Emoji Count Could Grow to 3,790 | Statista

    You will find more infographics at Statista

    Different skin colors have been available for emojis since 2015.

    The first regional flags came to the service in 2017.

    The first same-sex couples have been available since the major emoji release of 2010, but more versions were added in 2015.

    The 2017 release also included the rollout of the first non-binary options, while interracial couples first appeared in 2019.

    Tyler Durden
    Wed, 07/17/2024 – 20:45

  • RussiaGate 2.0: Donald Trump Has Opted For "Real Peace" Negotiations With A "Foreign Adversary"
    RussiaGate 2.0: Donald Trump Has Opted For “Real Peace” Negotiations With A “Foreign Adversary”

    Authored by Prof. Michel Chossudovsky via GlobalResearch.ca,

    Introduction

    Normalization of diplomatic relations with the Russian Federation had first been proposed by Donald Trump in 2017.

    Under RussiaGate (2016), President-elect Donald Trump had been accused of treason “after President Obama announced new sanctions [in late December 2016] against Russia and Trump praised Vladimir Putin’s response to the sanctions.” (Daily Caller, December 30, 2016, emphasis added)

    Former Secretary of Defense and CIA Director Leo Panetta had already intimated prior to the elections that Trump was a threat to national security. 

    Even prior to the inauguration of president Trump, the US media in liaison with US intelligence had launched successive waves of smears directed against President-elect Donald Trump.

    The objective from the very outset was to discredit president Trump, presenting him as a Manchurian candidate serving the interests of the Kremlin.

    Vanity Fair November 1 2016

    Donald Trump, The Manchurian Candidate: U.S. Foreign Policy and the Campaign to Destabilize the Trump Presidency. Regime Change in America

    The Atlantic October 8 2016

    RussiaGate 2.0

    The RussiaGate objective as formulated in 2016 was: 

    “to get rid of a President who intended to normalize relations with Russia, thus curtailing the budget and power of the military/security complex.”

    (Paul Craig Roberts, emphasis added)

    In January 2019, the FBI Russia investigation was quoted by the media as “evidence” that Trump was “wittingly or unwittingly” an agent of the Kremlin.

    What is the stance of the FBI today in regard to the candidacy of Donald Trump? The FBI played a key role in sustaining RussiaGate. (P. C Roberts). I should mention that the FBI is also responsible (coincidentally) for the investigation of the attempted assassination of Donald Trump in Pennsylvania.

    Let us wake up to REALITY.  

    The levels of political manipulation, fraud and criminality have reached their pinnacle.

    The ultimate intent of the campaign against Trump in 2016-19, led by the Neocons and the Dems Clinton faction was to destabilize the Trump presidency.

    From RussiaGate 1.0 to RussiaGate 2.0

    There is continuity: Under RussiaGate 2.0 (2024) which we are currently experiencing, various accusations of treason against Trump will once more go into high gear, ultimately with a view to sabotage the peace process as well as destabilize Trump’s candidacy to the presidency of the U.S. 

    Trump has confirmed: …

    “that if reelected, he would swiftly bring an end to the war in Ukraine by speaking with Putin.

    “I will have that war settled between Putin and Zelensky as president-elect before I take office on January 20.

    I’ll have that war settled,” Trump said on June 27 during a debate with Biden, adding,

    “I’ll get it settled fast, before I take office.”

    (Quoted by Newsweek)

    Speaking with Putin is regarded as an act of treason. This courageous statement, reminiscent of Donald Trump –the alleged Manchurian Candidate— is unlikely to be accepted by the “Deep State”, the Military Industrial Complex and the powerful financial groups which support the Democratic Party leadership.

    What will be the ultimate outcome? 

    Real peace negotiations are an integral part of Trump’s election campaign.

    Trump’s national security advisory team has prepared a balanced plan: if the Kiev regime does not enter into peace talks with Moscow, the U.S. would (under a Trump presidency) immediately suspend the flow of US weapons to Ukraine:

    “Under the plan drawn up by [General Keith] Kellogg and Fred Fleitz, who both served as chiefs of staff in Trump’s National Security Council during his 2017-2021 presidency, there would be a ceasefire based on prevailing battle lines during peace talks, Fleitz said.

    They have presented their strategy to Trump, and the Republican presidential candidate responded favorably”. (Reuters, June 23, 2024)

    It is worth noting that this peace proposal – which is part of his election campaign – was formulated barely a few weeks prior to the failed attempt to assassinate Donald Trump in Pennsylvania.

    Tyler Durden
    Wed, 07/17/2024 – 20:45

  • Escobar: Iwo Jima 2.0 – What Story Is This Picture Telling?
    Escobar: Iwo Jima 2.0 – What Story Is This Picture Telling?

    Authored by Pepe Escobar,

    The Iwo Jima 2.0 pic, immortalizing the Trump fist surviving an assassination attempt, has taken the world by storm – generating everything from a meme tsunami on China’s Weibo to fresh anime in Japan. Not to mention the deluge of hats and T-shirts.

    This carefully composed pic changes everything – in more ways than one. So let’s engage in a first attempt to deconstruct it.

    We start with the major losers.

    The combo running Crash Test Dummy’s teleprompter/earpiece set up is essentially composed by Mike Donilon, Steve Richetti, Bruce Reed and Ted Kaufman.

    Government functionaries like Jake Sullivan and Little Blinkie, for their part, are placed at the heart of what is known in Washington as the “inter-agency” racket, better described as The Blob.

    The inestimable Alastair Crooke has explained how Sullivan and Little Blinkie’s deliberations are “spread through a matrix of interlocking ‘clusters’ that includes the Military Industrial Complex, Congressional leaders, Big Donors, Wall Street, the Treasury, the CIA, the FBI, a few cosmopolitan oligarchs and the princelings of the security-intelligence world.”

    Yet the key – invisible – point is who (italics mine) tells Sullivan and Blinkie what to do.

    These are the people who really (italics mine) run the show: the Big Families, and the Big Donors – old money and especially new money (as in invisible Vanguard shareholders).

    They are all stunned.

    They never thought it would come to this debacle – even if Joe Biden was expressly chosen for what he is: a crude, corrupt, easily-manipulated lackey, and head of a crime family. Everyone in a position of real power in the Blob knew he was becoming a zombie ages ago.

    There’s fierce debate across the Beltway over how many factions are at war with each other inside the Dem blob.

    There are at least three:

    1.The Biden crime family – on which tens of thousands of people with cushy jobs and fat salaries depend.

    2.The down-ballot Dem machine – an “extended family” of other tens of thousands who will lose badly, in elections or re-elections, in the event of a Trump 2.0. These are the ones who want to throw Crash Test Dummy under the – retirement home – bus and replace him with a Dem they hope and pray might win (the number one candidate is the uber-incompetent Kamala Harris).

    Needless to add, these two factions not only are at vicious Hot War against each other but also at war with…

    3.The ones who really matter: the actual Deep State – from the “intelligence community” to webs woven inside the CIA and the FBI. This is the infernal machine that actually gave the White House on a platter to Biden in 2020.

    Dem Chuck Schumer once famously proclaimed: if you cross this faction, they have “Six Ways from Sunday” to get to you, destroy you, or whack you. With total impunity.

    Enter Six Ways from Sunday

    So this is what might happen next – way beyond Iwo Jima 2.0 and the irresistible pull of the Trump-Vance ticket. If the Deep State cannot influence the outcome of the November elections, they can find Six Ways from Sunday to cancel it, by invoking a “national emergency”. Anything goes – from false flag terrorism to war.

    Extrapolating from a quite cool analysis by a crack fintech expert in Berlin, it’s possible to characterize the bipartisan War Party arrangement in the Blob as two real Mafioso enterprises fighting over an Exceptionalistan on the brink of abysmal bankruptcy – and forced to choose its final Forever Wars.

    The Six Ways from Sunday faction is determined to go all the way – employing every imperial means – to conquer what could be dubbed the El Dorado in the black soil of Novorossiya, whose resources could buy it, maybe, another 50 years of power.

    On the other side, the MAGA group doesn’t care about those Slavlands, and is convinced that the real existential threat is the Middle Kingdom. And as it is beholden to the Book of Joshua racket, the MAGA group also believes that “something must be done“ about Iran.

    Either group, by the way, is de facto fully devoted to the Book of Joshua racket.

    The Empire – of Chaos – happens to be run under a quite peculiar governance, in which a very complicated voting system decides which group gets access to the means for pursuing their obsession.

    As long as there was enough gold in the vaults of the Empire – illegally appropriated or otherwise – the two groups alternated Power Possession without too much fuss.

    But then all those Forever Wars lost over the years against militarily insignificant adversaries started to take their toll. And the financial times now are really, really tough.

    The imperial voting system holds an extremely bizarre characteristic: under roughly equal voter affiliation to either group, the votes cast in just five cities in five states in the midwest Heartland actually determine the fate of those dwindling imperial resources fiercely fought over by the two main groups.

    The Six Ways from Sunday group happens to control the voting in those five cities.

    Already in the past elections, the Six Ways from Sunday group pre-empted a certain victory of the MAGA group in the Heartland to the tune of 10 million votes, most of them cast in truckloads of forged ballots in those five cities, plus related electronic tampering.

    What the MAGA group now clearly sees is the possibility to finally grab those five cities in five states.

    And yet 10 million excess votes and trying to conquer those five states may not be enough in the face of the massive fraud machine.

    So in 2024 MAGA calculates that they must win another five states typically leaning towards the Six Ways from Sunday universe, and win by an excess of at least 20 million votes to pre-empt the all but certain massive fraud.

    That’s where Iwo Jima 2.0 come in – graphically formatting the ticket for a landslide victory.

    Six Ways from Sunday may be beyond dazed and confused at the current incandescent juncture. The trillion dollar question is: how will they change the narrative and regain the initiative?

    They have made the lethal mistake of picking as their candidate a walking dead. In contrast, MAGA parades the quintessential narcissistic pop superstar, now supercharged and re-energized, and carrying global appeal.

    It seems that the landslide is inevitable. Six Ways from Sunday is mired in total panic – knowing they are about to lose control.

    Yet the fat lady has not yet sung.

    Three and a half months is a galactic eternity in politics. And a cornered Six Ways from Sunday is all set to roar with more ferocity than ever.

    Tyler Durden
    Wed, 07/17/2024 – 20:20

  • CCP Expands Great Firewall With Socialist AI Bots To Ensure Population Remains Obedient To Xi 
    CCP Expands Great Firewall With Socialist AI Bots To Ensure Population Remains Obedient To Xi 

    China’s ruling Communist Party has been implementing bold new guidelines across ChatGPT-style large language models at major domestic tech firms. These measures aim to prevent the models from generating content that could subvert state power or criticize the communist political system. Chinese authorities’ efforts to control AI and use it as a mass censorship tool are essentially an extension of their two-decade-long “Great Firewall” policy.

    A new Financial Times report states that the Cyberspace Administration of China (CAC), the country’s top internet regulator, is reviewing LLMs from tech companies and AI start-ups, including ByteDance, Alibaba, Moonshot, and 01.AI. The goal is to ensure these LLMs “embody core socialist values.”

    According to those with direct knowledge of CAC’s overview process, officials are batch-testing LLM’s responses to a series of questions, including China politics and President Xi Jinping. 

    The team overseeing this process is highly trained in the AI field. An employee of a Hangzhou-based start-up, who asked not to be named, said, “A special team doing this, they came to our office and sat in our conference room to do the audit.” 

    “We didn’t pass the first time; the reason wasn’t very clear so we had to go and talk to our peers,” the person said, adding, “It takes a bit of guessing and adjusting. We passed the second time but the whole process took months.”

    FT pointed out that censorship begins “with weeding out problematic information from training data and building a database of sensitive keywords. China’s operational guidance to AI companies published in February says AI groups need to collect thousands of sensitive keywords and questions that violate “core socialist values,” such as “inciting the subversion of state power” or “undermining national unity.” The sensitive keywords are supposed to be updated weekly.” 

    Censorship is visible to users of China’s AI chatbots. For instance, queries about the Tiananmen Square massacre and whether Xi looks like Winnie the Pooh have been scrubbed. 

    Baidu’s Ernie chatbot informs users to “try a different question” when asking about politically sensitive topics, while Alibaba’s Tongyi Qianwen responds: “I have not yet learned how to answer this question. I will keep studying to better serve you.”

    In the CCP’s view, open, unfiltered AI bots constitute a significant threat to the communist party’s governance. Beijing is building itself an expanded “great firewall” to create socialist AI and continue blocking incoming foreign technology. 

    Remember, David Sacks warned in early 2023 that “trust & safety” teams at big tech firms, especially the ones in the US, have immense censorship power. He warned this censorship will go into hyperdrive with AI

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    If President Trump wins the presidential elections in November, a dramatic shift in AI policy could be on the horizon for the US next year. He aims to “Make America First in AI,” which could involve scrapping some of the “unnecessary and burdensome regulations” on AI development. A more open approach to AI would foster innovation, contrasting with China’s closed approach of embedding socialist values into their models.

    Tyler Durden
    Wed, 07/17/2024 – 19:55

  • The New Gold Rush: Unlock Uranium's Soaring Demand
    The New Gold Rush: Unlock Uranium’s Soaring Demand

    Authored by Nomi Prins via Prinsights substack,

    “Nothing exists except atoms and space, everything else is opinion.” 

    – Democritus, Ancient Greek Philosopher

    Certain geopolitical events unleash unstoppable global re-alignments and national policy shifts.

    Russia’s invasion of Ukraine in February 2022 was one of them. 

    The escalation of the Russia-Ukraine War made it clear to the U.S. that energy independence is critical for national and economic security.  Nowhere is that more apparent than with nuclear energy. Russia supplies 35% of U.S. nuclear fuel. Kazakhstan supplies 25%.

    Since 2022, legislators on both sides of the aisle, along with the White House and the Departments of Energy and Defense have accelerated discussions over nuclear energy and uranium supply chain policies.

    Now, nuclear energy is familiar to the U.S. In fact, nearly 20% of U.S. electricity comes from nuclear power.  Nuclear power also provides about 10% of the world’s electricity and 18% of electricity in OECD countries.

    The truth is that no country, large or small, is looking for less energy. Electricity demand is increasing about twice as fast as overall energy use, and it will likely rise by 50% by 2040. Nuclear power capacity is forecast to grow in tandem.

    Source: Carbon Credits

    That’s why nuclear energy is an increasingly essential part of national defense and energy policy. Those who understand this resource will also be able to unleash its potential.

    Let me explain…

    Nuclear Energy Is (Back) in Vogue

    Nuclear energy is the “Switzerland” of energy sources. It is increasingly popular with both sides of the political spectrum for several reasons.

    First, nuclear energy is the most reliable baseload power source. That’s because it has the highest capacity factor, which measures how often a power plant runs at its maximum power.

    Nuclear power can step in when other sustainable energy sources like wind and solar power can’t meet power needs.

    Second, nuclear energy is nearly carbon-free, making it ideal to meet clean energy goals.

    By increasing its nuclear energy use while also limiting its vulnerability to supply chains, the U.S. can lower its exposure to geopolitical tensions, price manipulations and foreign energy dependence.

    The only way to achieve that is to secure domestic and reliable allied uranium supply sources and production. This would also require the development of more efficient technologies to refine uranium and convert it into nuclear energy.

    Transformational U.S. Nuclear Energy Bills

    After taking nearly two years to develop, several crucial bipartisan bills supporting nuclear energy, domestic and allied uranium supply, and technologies became law starting in late 2023.

    The three you should know about are:

    1. The Nuclear Fuel Security Act  

    This bill was signed into law as part of the National Defense Authorization Act (NDAA) on December 22, 2023. It establishes a strategic uranium reserve to ensure domestic uranium supply for national defense.

    The Act creates new programs and expands existing ones to increase domestic supplies of certain types of low-enriched uranium (LEU) for nuclear energy, including high-assay low-enriched uranium (HALEU) used by advanced reactors.

    2. The Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act

    This Act passed the House on May 8, attached to S. 870, the “Fire Grants and Safety Act,” by a vote of 393-13. The Senate passed it by a vote of 88-2 on June 18. With votes like those, it should be clear that nuclear is popular across the aisle (a rarity in the D.C. Beltway).

    The legislation invests in advanced nuclear technologies for efficient energy production. That includes the continued development of small modular reactors (SMRs) and microreactors.

    The overwhelming bipartisan support for advancing nuclear energy as a clean and reliable power source will only serve to enhance energy independence and national security.

    It was just signed into law on July 9th.

    3. The Prohibiting Russian Uranium Imports Act

    After Russia invaded Ukraine, escalating its war that started with its invasion of Crimea in 2014, the U.S. banned imports of certain Russian energy products like oil and coal. But it didn’t ban uranium due to a lack of domestic and allied supply.

    In December 2023, the House passed H.R. 1042, the Prohibiting Russian Uranium Imports Act, by voice vote. Two months before that, I met with the senior staff of Rep. Cathy McMorris Rodgers (R-WA), who chairs the Energy and Commerce committee. She championed the bill. We discussed its importance for overall energy and national security.

    Following productive meetings on Capitol Hill

    The Senate passed its version by unanimous consent on April 30.

    On May 13, the bill was signed into law.

    The bill bans low-enriched uranium (LEU) produced in the Russian Federation or by a Russian entity, fuel used in domestic nuclear reactors.

    It also allocates $2.72 billion to domestic and allied uranium companies to further advance domestic enrichment capabilities.

    Uranium is More Powerful Than Gold

    Those policy developments are boosting uranium prices and domestic uranium producer shares.

    Uranium prices rose 3-fold since early 2020.

    They more than doubled from July 2023 through January 2024 to $107 per pound before settling to current levels near $80-85 per pound, which are still up 60% since then.

    That’s compared to gold at 19% and silver at 28% over that period.

    Given the growing global need for uranium, I see uranium prices doubling over the next two years and surpassing the 2007 levels shown in the chart below.

    Source: Trading Economics

    Countries are now recognizing nuclear power’s energy potential, economic implications and clear national security benefits. Government investments and initiatives for uranium and nuclear energy companies include financial subsidies, tax incentives, grants and loan guarantees.

    More than 20 countries at COP28, including the U.S., signed a declaration to triple nuclear power capacity by 2050. That would add 740 gigawatts (GW) of nuclear capacity to the existing stock of 370 GW. For reference, one gigawatt is equal to one billion watts. To put that into perspective, one gigawatt is enough to power an entire medium-sized city. 

    The World Nuclear Association reports that 68 GW of nuclear capacity is under construction. Another 109 GW is in the planning stages, and another 353 GW is proposed beyond that. 

    Plus, 29 GW of new capacity is expected to be in operation by 2026. China and India represent more than half of that. They will need more uranium to accomplish this.

    Source: Carbon Credits

    That means that the U.S. is in a race for uranium supply to fuel its own nuclear capacity growth, and the world is taking notice.

    Several domestic miners have restarted operations across five states to meet growing demand and favorable policy. Those include IsoEnergy, Uranium Energy Corporation and Energy Fuels Inc.

    Domestic U.S. and allied uranium producers, especially those with operating mines, will benefit in the coming months and years. So will nuclear energy technology companies.

    You’ll be hearing much more from us on this mega-trend soon.

    One way to take advantage of uranium and nuclear energy trends is to consider investing in the Global X Uranium ETF, URA.  Many of the ETF’s top holdings are U.S.-based, or U.S allied uranium or nuclear technology companies.

    *  *  *

    Subscribe to Prinsights with Nomi Prins

    Tyler Durden
    Wed, 07/17/2024 – 19:30

  • Schumer Says "Best For Biden To Drop Out Of Race" As President Tests Positive For COVID
    Schumer Says “Best For Biden To Drop Out Of Race” As President Tests Positive For COVID

    Update (1927ET):

    Moments ago, ABC News reported that Senate Majority Leader Chuck Schumer, D-N.Y., advised President Biden to end his reelection for the greater good of the country and the Democratic Party. 

    Only eight days ago, Schumer had a different opinion on Biden: “I’m with Joe.” 

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    Earlier, according to Fox News, citing multiple sources, Schumer pushed for the Democratic National Convention’s delay as questions soared about the president’s 2024 candidacy. 

    According to Axios, the delay “signals that the congressional leaders sympathize with rank-and-file Democrats who want more time to address concerns about Biden’s ability to defeat former President Trump.” 

    Vice President Kamala Harris’s nomination odds for the party now stand at 50, while Biden’s is at 38.  

    Democratic lawmaker have been urging Biden to drop out since his disastrous debate with former President Trump last month. 

    *   *   * 

    Just hours after President Biden mentioned in an interview that he would consider dropping out of the presidential race if diagnosed with a “medical condition,” the elderly president tested positive for Covid-19 this afternoon. 

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    UnidosUS president Janet Murguía informed the audience at the organization’s national conference in Vegas about Biden’s diagnosis.

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    White House press secretary Karine Jean-Pierre said President Biden was delivering speeches in Las Vegas when he “experienced mild symptoms.” 

    KJP said the president “will be returning to Delaware, where he will self-isolate and will continue to carry out all of his duties fully during that time.”

    She noted, “The White House will provide regular updates on the President’s status as he continues to carry out the full duties of the office while in isolation.”

    Biden’s doctor reported that the president developed a runny nose and a “non-productive cough” on Wednesday afternoon.

    “He felt okay for his first event of the day, but given that he was not feeling better, point of care testing for COVID-19 was conducted, and the results were positive for the COVID-19 virus,” the doctor wrote in a statement shared by the White House. 

    The doctor said, “The President has received his first dose of Paxlovid,” adding that Biden’s symptoms “remain mild.” 

    Biden boarded Air Force One in Vegas this evening, the White House pool reported.

    Where is the president’s mask?? 

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    Sigh. 

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    Earlier today, the president said in a pre-taped interview with BET News: 

    “If I had some medical condition that emerged, if somebody, if doctors came to me and said, you got this problem and that problem.” 

    PredictIt data shows Biden’s election odds are cratering once again. 

    X users are asking…  

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    Ha. 

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    *Developing…

    Tyler Durden
    Wed, 07/17/2024 – 19:25

  • 1000s Of Marylanders Furious About Eminent Domain Risk For New Transmission Line Powering AI Data Centers 
    1000s Of Marylanders Furious About Eminent Domain Risk For New Transmission Line Powering AI Data Centers 

    Thousands of Marylanders are discovering firsthand the dark side of ‘The Next AI Trade,’ in which power grids must be upgraded and expanded to handle increased load demand from AI data centers and other electrification trends. This expansion involves eminent domain and the destruction of farmland and forests.

    Strict climate change rules from progressive lawmakers in Annapolis are some of the main drivers in the chaos unfolding across three counties in the blue state, as these rules discourage the development of new fossil fuel power plants, forcing power companies to expand transmission systems to import electricity from surrounding states versus building clean NatGas power generators with carbon capture systems near areas where AI data centers are being constructed. 

    Pro-subs are all too familiar with our ‘powering up America’ theme dubbed the “The Next AI Trade.” However, the situation playing out in Maryland has revealed a dark side to this theme, which we were the first to report last week in a note titled “Dark Side Of ‘The Next AI Trade’: Seizing Private Property For Transmission Lines.” 

    The evolving situation in Maryland involves a group called “Stop MPRP.” MPRP stands for “Maryland Piedmont Reliability Project,” which is a project that plans to upgrade the region’s 500,000-volt transmission system that runs across three counties: Frederick, Baltimore, and Carroll. The upgrades will ensure enough power is imported from surrounding states to supply new AI data centers coming online in southern Frederick County. 

    Stop MPRP has over 8,000 furious Marylanders who are quickly organizing to oppose the MPRP project because they say it’s a massive “land grab that will not benefit our community while devastating businesses, farms, and property values.” 

    In recent weeks, hundreds of Marylanders, if not more, in all three counties have met with local government and power company officials to discuss the project – as many are concerned about plunging land values, destruction of farms and forests, and high risk of eminent domain. 

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    Local news WMAR interviewed second-generation farmer Brandon Troy, who said the high-voltage power lines will run directly through his farm. 

    “What they basically want to do is come from over the hill there and come straight across everything, come across the crop land, across the wetlands and up in here to our pastures to basically cross us,” Troy told WMAR, adding, “You couldn’t pick a wider swath through our farm.” He warned his property value would tank if these power lines were built. 

    In a recent note titled “Maryland ‘Can’t Import Itself Out Of Energy Crisis’ Amid Urgent Need To Boost In-State Power Generation,” we discussed Maryland’s struggling energy utility system. Due to strict green policies, the state attempts to resolve its power crisis by importing energy from neighboring states rather than developing in-state power generation capabilities.

    The dark side of the Next AI Trade will involve land grabs, and Marylanders are some of the first to figure out this unfortunate reality. However, we suspect if Annapolis had common sense, there wouldn’t be a need for new massive transmission lines because NatGas power generators could be built down the street from the data centers. 

    “Current views along the proposed route,” one landowner said. 

    Another person said, “Here is what they intend to ruin for me…” 

    “Just a couple of views that we will lose if this happens,” another landowner said. 

    Great job, Democrats. Your green policies are backfiring, causing anxiety among landowners.

    Tyler Durden
    Wed, 07/17/2024 – 19:05

  • China's State-Controlled Rare Earth Companies Stung By Declining Prices
    China’s State-Controlled Rare Earth Companies Stung By Declining Prices

    Rare earth mineral companies in China have been stung by declining prices at the same time the government “tightens its grip” on the industry, according to Nikkei Asia.

    Companies like Rising Nonferrous Metals, a rare-earth miner listed in Shanghai, are losing money this year, a stark contrast to last year’s profitability. 

    The company is blaming “drastic slide in sales prices of its major rare-earth products,” according to the report. They sell dysprosium, terbium and didymium, a mix of neodymium and praseodymium.

    This company belongs to central government-owned platform China Rare Earth Group, which was established in December 2021 when three state owned miners merged. It was then designated a “central company”, designating it as controlled by the State Council.

    Nikkei reports that another arm of the central company, China Rare Earth Resources and Technology, is also expecting a net loss for 1H 2024. Fuijan province controlled Xiamen Tungsten also said revenue had dropped 22% on the year. 

    China holds the world’s largest reserves of 17 rare-earth elements, vital for tech products like smartphones, electric vehicles, wind turbines, and missile defense systems. 

    Amid rising U.S. tensions, China is increasingly leveraging these resources. Last month, the central government mandated state control over rare-earth resources to ensure national resource security and industrial security.

    This new directive aligns with President Xi Jinping’s focus on a “holistic approach to national security.”

    Despite increased sales, suppliers are struggling. Shenghe Resources Holding, supported by the Finance Ministry, forecasts a significant interim net loss, citing a “substantial decline” in rare-earth prices. Shenghe is expanding through acquisitions, notably purchasing Strandline Resources UK for 43 million Australian dollars to gain control over Tanzanian mineral projects.

    China Northern Rare Earth (Group) High-Tech, the top rare-earth miner by volume, barely turned a profit in the first half of the year, with a sharp profit decline of 95% to 97%. The company’s board attributes this to falling prices due to higher production, increased imports, and more recycling, while demand growth has lagged.

    Tyler Durden
    Wed, 07/17/2024 – 18:15

  • Is College Education No Longer Worth It?
    Is College Education No Longer Worth It?

    Authored by Mark Ford via The Epoch Times (emphasis ours),

    Years ago, I argued with my libertarian friends about the value of a college education. They saw it as a waste of time and a senseless expenditure of money. They thought this was especially true for anyone who majored in the liberal arts, which was my chosen field.

    (Tero Vesalainen/Shutterstock)

    My argument came from my own experience. In studying literature for nearly seven years, I had developed skills that I believed were invaluable to becoming successful in life, regardless of one’s chosen occupation: analytical thinking, for example, which is necessary for problem-solving, and the ability to speak and write effectively, which is necessary for getting one’s ideas accepted in any competitive environment.

    I still believe in the value of those skills and of a liberal arts education in general. But back then, a degree from a public college cost less than $10,000 and a private college might have cost five or six times that much.

    Today, it is much, much more expensive. And because it is so high compared with the financial benefits it provides, the cost is no longer justifiable.

    So I find myself sympathetic to the charge that a college education has become, for many, a scam.

    The Jaw-Dropping Cost

    According to U.S. News & World Report, the average tuition for the 2023–2024 school year for a public college is $10,662 for in-state students, with out-of-state tuition averaging $23,630. For private colleges, the average is $42,162, and for elite private colleges, the numbers are worse. On average, elite private colleges exceeded the $90,000-per-year threshold. That’s for one year!

    Millions of college students are taking out loans to finance all or part of their expenses. Many of those loans come with relatively high interest rates (6.5 to 7 percent), which makes it increasingly difficult for them to keep up with the payments. Some are simply giving up and declaring personal bankruptcy. Thus, in 2023, bankruptcy filings by young college graduates in the United States hit an all-time high. This is happening at a very inconvenient time—just a few years post-graduation, when these young people are trying to begin their careers and their families.

    You might argue that the investment in a college degree, however expensive, will eventually “pay off” because college graduates typically earn more than high school graduates. And that’s true. Male college graduates earn, on average, about $500 per week more than male high school graduates, which amounts to about $900,000 over their lifetimes. (The financial advantage of a college education for women is less, just $630,000 over a lifetime. One study suggests that gender differences in occupation and industry are important to explain the gap, and so are women’s workforce interruptions and shorter hours in high-skilled occupations.)

    On the face of that, you might think that getting into $200,000 to $500,000 worth of debt is still “worth it” because of the lifetime financial advantage. However. the debt figures reported are misleading. They don’t include the cost of interest, which, depending on the interest rate and length of the loan, can add another 30 percent to the total indebtedness.

    Furthermore, these are gross numbers. And like the numbers used to demonstrate a pay gap between men and women, the comparison is between the average compensation of all men and all women, without accounting for the fields that men choose to enter as compared with women, or how many hours men work as compared with women.

    When you measure the pay gap correctly—comparing like professions and like hours—you discover that there is no gap at all.

    If, instead of comparing the gross numbers, we compare the average compensation of college graduates versus high school graduates with skills—such as the mechanical trades or the dangerous jobs that are predominantly done by men—it’s a different story. Here’s an example: plumbers versus doctors.

    On top of that, some of the world’s biggest companies—including Google, Apple, and Netflix—no longer require a college degree for most new employees. This, according to those businesses, is because so many young people today are able to self-educate in the necessary entry skills and then fill in the gaps after they have been hired.

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.

    Tyler Durden
    Wed, 07/17/2024 – 17:50

  • Cops Radioed "Blanket Tactical Channel" About Shooter After Rooftop Confrontation, Yet Nothing Was Done
    Cops Radioed “Blanket Tactical Channel” About Shooter After Rooftop Confrontation, Yet Nothing Was Done

    Evidence continues to mount that Saturday’s attempted assassination of Donald Trump by shooter Thomas Matthew Crooks was allowed to happen, despite ample warning from bystanders, local PD, and even the shooter’s parents.

    To review:

    • Local PD notified the Secret Service that they had inadequate resources to monitor the building used by Crooks.
    • The parents of Thomas Matthew Crooks called law enforcement before the assassination attempt to warn them that their son was “missing” and they were “worried” about him.
    • Crowds were shouting at the police to do something about the guy on the roof with a rifle for several minutes.

    And now for the kicker: 

    After Crooks was positioned on the roof, one cop boosted another cop up to the roofline – only for Crooks to point his weapon at him. At that point, the boosted cop fell.

    Both of them radioed the threat on a “blanket tactical channel” before the shooting, on which “everyone who was on the tactical channel heard it” according to Butler Township manager, Tom Knights.

    “The boosting officer and the officer that fell were both on the radio indicating that there was an individual on the roof that did, in fact, have a weapon,” said Knights. “There was a blanket tactical channel being used. Everyone who was on that tactical channel heard it.”

    Watch (via @KanekoaTheGreat):

    It is unknown how much time passed between that radio communication and when shots rang out – or whether the Secret Service was on the “blanket tactical channel” (one would assume). But there was ample knowledge of the armed guy trying to kill Trump before he began shooting. 

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    We’re sure Congress will get to the bottom of this…

    …or not:

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    Tyler Durden
    Wed, 07/17/2024 – 17:25

  • Judge's Dismissal Of Classified Document Case Against Trump Explained
    Judge’s Dismissal Of Classified Document Case Against Trump Explained

    Authored by Sam Dorman via the Epoch Times (emphasis ours),

    U.S. District Judge Aileen Cannon dismissed the Justice Department’s classified documents case against former President Donald Trump on July 15, ruling that special counsel Jack Smith’s appointment violated two key provisions of the U.S. Constitution.

    (Illustration by The Epoch Times, Shutterstock, Getty Images)

    In a 93-page ruling, Judge Cannon wrote that Mr. Smith’s prosecution of the former president “breaches two structural cornerstones of our constitutional scheme—the role of Congress in the appointment of constitutional officers, and the role of Congress in authorizing expenditures by law.”

    The ruling raises questions about the Justice Department’s use of special counsels.

    Peter Carr, a spokesman for Mr. Smith, said the Justice Department had authorized an appeal.

    “The dismissal of the case deviates from the uniform conclusion of all previous courts to have considered the issue that the Attorney General is statutorily authorized to appoint a special counsel,” Mr. Carr said in a statement provided to The Epoch Times.

    Here are some key takeaways on the ruling and its implications.

    Special Counsels and the Appointments Clause

    Judge Cannon ruled that Mr. Smith’s position was unconstitutional under the appointments clause of the Constitution, which states that Congress can, through law, allow department heads to appoint “inferior” officers.

    The judge ruled that Mr. Smith was an inferior officer, which requires Congress to authorize the attorney general to appoint him as special counsel, which didn’t happen.

    Her ruling pointed to how Congress let the Independent Counsel Act, which allowed the Justice Department to appoint special prosecutors, expire in 1999. While Mr. Smith pointed to other laws to justify his appointment, Judge Cannon rejected those arguments.

    Judge Cannon’s ruling conflicts with a 2019 judgment by the U.S. Court of Appeals for the District of Columbia Circuit, which upheld former special counsel Robert Mueller’s appointment.

    Special counsel Jack Smith arrives to deliver remarks on an indictment against former President Donald Trump at the Justice Department in Washington on June 9, 2023. Mr. Smith is the prosecutor in former President Trump’s classified documents case. (Chip Somodevilla/Getty Images)

    The Florida judge also declared his funding illegitimate in her opinion.

    “Special Counsel Smith’s office—since November 2022—has been drawing funds from the Treasury without statutory authorization, in violation of the Appropriations Clause,” she wrote.

    The appropriations clause reads, “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.”

    Judge Cannon said the court “has difficulty seeing how a remedy short of dismissal would cure this substantial separation-of-powers violation, but the answers are not entirely self-evident, and the caselaw is not well developed,” she said.

    The ruling is limited to the prosecution of former President Trump in the Southern District of Florida but could be cited in other cases.

    Appeal to 11th Circuit

    Mr. Smith is expected to appeal Judge Cannon’s decision to dismiss the case to the U.S. Court of Appeals for the 11th Circuit. The 11th Circuit will likely hear the case with a three-judge panel, which could either affirm or reject Judge Cannon’s ruling.

    “I wouldn’t be surprised if her order is overturned by the Eleventh Circuit or the Supreme Court,” Neama Rahmani, a former federal prosecutor, told The Epoch Times in an email. “Justice [Clarence] Thomas is the only justice who seems persuaded by this type of argument.”

    Mr. Rahmani was referring to Supreme Court Justice Clarence Thomas’s concurrence in Trump v. United States, which held that the former president enjoyed some immunity from criminal prosecution. That concurrence focused on the legality of special counsels and was quoted by Judge Cannon in her July 15 decision.

    By contrast, John Shu, a constitutional law expert who served in both Bush administrations, told The Epoch Times that Judge Cannon’s opinion was “well-reasoned and well-written.”

    If the 11th Circuit rejects Judge Cannon’s ruling, it will presumably send the case back to the district court level to continue pretrial proceedings.

    Palm Beach County sheriff’s deputies drive past the Alto Lee Adams Sr. U.S. Courthouse in Fort Pierce, Fla., on March 14, 2024. Former President Donald Trump attended a hearing in front of U.S. District Judge Aileen Cannon. (Joe Raedle/Getty Images)

    Replacement Prosecutor?

    While Mr. Smith pursues an appeal, Attorney General Merrick Garland could assign a U.S. attorney to bring charges against the former president in Florida. Doing so would require that attorney to once again obtain an indictment from a grand jury.

    The U.S. attorney for that district is Markenzy Lapointe.

    Mr. Shu said appointing Mr. Lapointe would be problematic from a public relations perspective for the Justice Department, given that Mr. Garland had justified his appointment of Mr. Smith on the grounds of maintaining “both independence and accountability in particularly sensitive matters.”

    With the appeals process afoot, even if the decision is overturned by a higher court, it is now extremely unlikely that a trial will occur before the November election.

    Mr. Shu, who is also a former clerk for the 11th Circuit, said that “if Smith appeals, there’s no way the 11th Circuit can hear this case before the election; it’s not logistically possible.”

    Supreme Court Appeal

    Mr. Smith could also request that the Supreme Court skip the appellate level and take on Judge Cannon’s dismissal in an expedited fashion. It seems unlikely, however, that the top court would grant that request, given that it refused to do the same for former President Trump’s immunity appeal in his federal election case.

    In the event that the 11th Circuit overturns Judge Cannon’s ruling, it is likely that former President Trump will appeal to the Supreme Court.

    If the high court takes up an appeal, it would mark the third time that it has taken up a major constitutional question surrounding former President Trump in the 2024 election cycle.

    Judge Cannon’s decision added to a year of major court rulings on the nation’s separation of powers.

    The 6–3 Supreme Court decision in the Trump v. United States presidential immunity case ordered reconsideration of the issue by U.S. District Judge Tanya Chutkan. That case involves former President Trump’s reaction to the 2020 election, as well as his actions leading up to and on Jan. 6, 2021.

    “If this unprecedented prosecution is to proceed, it must be conducted by someone duly authorized to do so by the American people,” Justice Thomas wrote in the majority opinion, referring to the prosecution in Washington. “The lower courts should thus answer these essential questions concerning the Special Counsel’s appointment before proceeding.”

    Read the rest here…

    Tyler Durden
    Wed, 07/17/2024 – 17:00

  • CNN Admits Trump On Course For Landslide Win
    CNN Admits Trump On Course For Landslide Win

    Authored by Steve Watson via Modernity.news,

    CNN’s John King highlighted Tuesday how Donald Trump is on course for a historic landslide victory in November, and could get as many as 330 electoral votes (only 270 are needed to win).

    “If Donald Trump won, what we have here, dark red states, solid Republican. Light red states, leaning Republican. If he won just those right there, he would already have the path to 270. He would have 272 electoral votes,” King explained.

    He continued, “Look what is different. We have Wisconsin as a toss-up. We have Pennsylvania as a toss-up. Two critical states for Joe Biden. Michigan right now, another critical state for Biden, leaning Republican. Georgia, a state Biden flipped, leaning Republican. Arizona, a toss-up state. That was a state Biden flipped. Nevada, a state he won, leaning Republican.”

    “This is the dire strait for Joe Biden right now on the first night of the republican convention. Tomorrow is 16 weeks to Election Day. Sixteen weeks from tomorrow, we count the votes. It is tough to change a map like this in that amount of time,” King further urged.

    King went on to explain how Trump is winning in so many States and districts and is competitive in areas that are traditionally Democratic.

    “So, the warnings to the White House are Donald Trump could conceivably, if the current dynamics in the race hold, get 330 or more electoral votes. That’s what they believe,” King explained.

    “It’s a very narrow path for Joe Biden. He … has essentially one, maybe two narrow paths to 270,” King highlighted, urging that “Donald Trump has so many. There are viable paths to get him as high as 330, which means you can take some states away, Jake, and he would still get to 270.”

    “Donald Trump, on the first night of his convention, and Democratic people who are studying the data closely say it keeps getting worse for the president. Donald Trump opened his convention tonight in a commanding position in this race, period,” the analyst concluded.

    Watch:

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    Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

    Tyler Durden
    Wed, 07/17/2024 – 16:55

  • Billion Dollar Companies Like Apple And Nvidia Are Swiping YouTube Content To Train Their AI
    Billion Dollar Companies Like Apple And Nvidia Are Swiping YouTube Content To Train Their AI

    Apple, Nvidia and Salesforce are using content on YouTube to train their AI. 

    Subtitles from 173,536 YouTube videos spread across 48,000 YouTube channels were used by these companies as training data despite YouTube’s rules against harvesting information, according to Proof News and Wired. 

    The dataset – called YouTube Subtitles – includes transcripts from educational channels like Khan Academy, MIT, and Harvard, as well as media outlets such as The Wall Street Journal, NPR, and the BBC.

    Late-night shows like The Late Show, Last Week Tonight, and Jimmy Kimmel Live were also used, thge report says.

    Additionally, Proof News found that popular YouTubers like MrBeast, Marques Brownlee, Jacksepticeye, and PewDiePie had their videos included. 

    David Pakman, host of The David Pakman Show, which sports more than 2 million subscribers and more than 2 billion views, commented: “No one came to me and said, ‘We would like to use this.” 

    “This is my livelihood, and I put time, resources, money, and staff time into creating this content. There’s really no shortage of work,” he added, arguing that if AI companies are paid, he should be compensated for his data.

    Dave Wiskus, the CEO of Nebula, didn’t mince words: “It’s theft. Will this be used to exploit and harm artists? Yes, absolutely.” 

    The data was part of ‘The Pile’, a compilation of data released that includes content from YouTube, the European Parliament, English Wikipedia and corporate emails. 

    Apple utilized the Pile for OpenELM before adding new AI features to its products. Bloomberg and Databricks also leveraged the Pile, according to their publications. Anthropic, an AI company backed by a $4 billion Amazon investment, confirmed its use of the Pile for its AI assistant, Claude, while emphasizing compliance with YouTube’s terms, Wired wrote. 

    Salesforce used the Pile for an AI model intended for academic and research purposes, releasing it publicly in 2022. This model has been downloaded over 86,000 times. 

    Litigation against companies using unauthorized data for AI training is ongoing. Authors have sued over the use of works in datasets like Books3, another Pile component. Tech companies argue their actions fall under fair use, but legal battles are ongoing.

    Read Wired’s full story here. 

    Tyler Durden
    Wed, 07/17/2024 – 16:40

  • We Need An Energy Policy That Promotes Our National Security
    We Need An Energy Policy That Promotes Our National Security

    Authored by Robert O’Brien & Neil Auerbach via RealClearEnergy,

    Energy policy is not just a matter of governing approach, it is fundamental to our national security posture and economic resilience. The United States stands at a crossroads, and it is imperative we adopt an energy strategy that prioritizes our national interests, promotes clean air and water and economic growth, and ensures America’s global leadership. As the former National Security Advisor to President Trump, I have seen firsthand the critical importance of energy policy in safeguarding our national security and economic prosperity. President Trump stands poised to reshape the nation’s energy posture through an “all-of-the-above” energy policy that is right for America.

    We cannot ignore the central role that domestic oil and gas production plays in our nation’s economy and that it will continue to do so long into the future.  Thus, we must facilitate further growth of this vital industry by confronting the impact of regulations that stymie growth. In a world where Europe and Asia are striving to stabilize their energy supplies amidst growing demands, the United States’ decision to pause new Liquid Natural Gas (LNG) export approvals has serious implications for global stability. American energy dominance over our adversaries necessitates an approach that spans all sectors. This policy must include dramatic increases in drilling for oil and gas, the restoration of the Strategic Petroleum Reserve (SPR), which was needlessly drained for political reason, the revitalization of our nuclear power industry, particularly through encouraging the building of Small Modular Reactors (SMRs), and a reclaiming of American leadership in the clean energy sector. Such a strong all-of-the-above energy strategy ensures a diversified and secure energy supply and will foster peace and prosperity for America and our allies.

    Domestic Production and Regulation

    Global energy demand is poised to grow significantly as AI growth, crypto mining, and emerging markets lead to demand for more energy. Despite recent increases in domestic oil production—gains which have occurred in spite of the Biden administration’s policies, not because of them—the United States must continue to increase petroleum production. Under the current administration, we have seen a slew of regulations and prohibitions on drilling on federal lands and offshore. These constraints have stifled what could be a significantly higher American production rate. Without these suffocating regulations, the United States could be producing millions of barrels more per day, reinforcing our energy security and reducing dependency on foreign oil. Energy independence is not just an economic issue, it is a national security imperative given our geopolitical struggles with global production giants – Russia and Iran – and the world’s largest consumer and polluter – China.

    Rebranding as an Energy Exporter

    The current pause on new LNG export approvals is both an environmental and geopolitical disaster. LNG is a cleaner alternative to coal and oil, and its export can help reduce global carbon emissions while providing a strategic advantage to the United States in global energy markets. Cleaner air and water in the world is dependent on US LNG leadership. Restarting and expanding LNG exports should be a priority for any administration that truly values both the environment and our geopolitical standing. By resuming LNG exports, we can provide our allies with a reliable and clean energy source, reduce their dependence on hostile nations, and strengthen our own economic position. Furthermore, expanding LNG exports will create jobs across the energy and transportation sectors while boosting our GDP, enabling the U.S. to reduce its debt and enhance its economic resilience. Failure to support the growth of the LNG market will be a gold-plated gift to Vladimir Putin’s Russia.

    Keystone XL Pipeline

    One of the first actions of a future Trump administration should be the approval of the Keystone XL pipeline, with the goal of completing it by December 2025. This pipeline is crucial for transporting Canadian crude oil to U.S. refineries cleanly, efficiently and safely, enhancing North American energy integration and security. The alternative will be the shipment of Canadian oil from North America across Canada and the Pacific Ocean to be refined in China by the world’s biggest polluter. The Keystone XL pipeline not only represents a significant infrastructure investment but also a step toward energy independence and renewed strength in North American security. Its completion should be a day-one priority and accomplished by the end of the first year of the administration. President Trump demonstrated his ability to lead innovative and complex projects in his first term. A future Trump administration will deliver success for America thru completing the Keystone XL pipeline.

    Strategic Petroleum Reserve

    The SPR is a critical component of our national security infrastructure. It serves as a buffer against global supply disruptions and ensures that we have access to energy in times of crisis. The Biden administration’s decision to raid the SPR was a shortsighted and politically motivated move to lower gas prices for a news cycle or two, jeopardizing our national security. We must stop raiding the SPR and focus on replenishing it to optimal levels. By maintaining a robust reserve, we can safeguard our energy security and protect our economy from volatile global markets.

    Low Carbon Economy and the Role of Nuclear Power

    In 2023, low carbon energy sources supplied 40% of global electricity supply, 30% of which came from renewable energy and 10% of which came from nuclear energy. The growth in renewables over the last decade has been spectacular and has been accompanied by significant reductions in cost. Market forces will continue to propel the growth of renewables for decades to come. The share of global electricity supply coming from nuclear energy, on the other hand, has been stagnant, despite the advances in nuclear technology, particularly with SMRs. Fueled by advances in Artificial Intelligence (AI), quantum computing, and coupled with additional demand from crypto mining, global energy demand is expected to skyrocket through 2050. If the U.S. and the rest of the world are serious about emissions reduction, increasing investment in SMRs is an essential part of a low carbon power generation portfolio. SMRs provide a reliable, low-carbon energy source that can support the increased baseload needs from data centers and other technology-driven sectors. By embracing nuclear power as an integral part of the low carbon economy, we can ensure a stable and sustainable energy supply with incredible flexibility in meeting tomorrow’s energy needs.

    All-of-the-Above Approach to Energy Dominance

    Embracing an all-of-the-above energy strategy means that the U.S. is true to its core value of promoting competition in markets, and benefits consumers as well as efficient producers. Our fossil fuel industry is the envy of the world and has produced incredible advances in fracking technology. The U.S. also happens to lead the world in reducing the CO2 emissions intensity of its oil and gas sector. The U.S. can and must continue to invest in expanding our global leadership in oil and gas production, which remains a cornerstone of our energy supply, and expand domestic production of clean energy and low-carbon emission solutions, such as wind, solar, hydropower, hydrogen and nuclear—all produced in the United States with equipment manufactured in the United States.

    The world needs more energy and fossil fuels will remain the largest contributor to the global energy supply for the foreseeable future. Interestingly, that future holds the exciting possibility that carbon capture and methane abatement technology may effectively erase the dividing line between low-carbon and fossil fuel energy sources as continued technology advances decrease cost and improve efficiency and reliability.

    There is no economically rational way to eliminate fossil fuels from our global energy supply. However, as the energy industry continues its inexorable shift in favor of low-carbon energy, the U.S. would be wise to diversify its own energy portfolio.

    By diversifying our energy portfolio, we can ensure a stable and affordable energy supply for all Americans. This approach also aligns with our national security interests by reducing our dependence on foreign energy sources and enhancing our energy resilience. The United States has the potential to be as dominant a force in low carbon energy as we are in fossil fuel energy production.

    A look back at the history of U.S. involvement in the clean energy sector makes it clear that we took our eye off the ball to our national detriment.  The United States is the birthplace of both the solar and wind industries, dating back to the 1950s and 1980s, respectively.  The U.S. was also once the dominant player in the extraction of rare earth minerals.  However, over the past decade, we have all but ceded dominance of this multi trillion-dollar industry to China for a variety of reasons, including IP theft and unfair trade practices. China’s use of slave labor and currency manipulation has made matters even worse.

    As of 2011, the U.S. still maintained a lead over China in installed solar and wind energy, but by 2023, China had installed over three times the capacity as the U.S.  Almost none of that installed capacity in China had U.S. made components whereas China had sizable chunks of our domestic market.  The U.S. must recognize both the threat and the opportunity created by the emergence of China as the dominant clean energy manufacturer and rare earth mineral producer. 

    Addressing China’s Role in Global Emissions

    China is the root of global CO2 emission problems. While the United States has been a leader in reducing carbon emissions, China continues to be the world’s largest polluter. The United States should not pursue unachievable climate initiatives that harm our national and economic security. Instead, we should focus on pragmatic solutions that enhance our energy security and maintain our leadership in emission reductions. By holding China accountable for its emissions and promoting American innovation, we can lead the world in sustainable energy practices.

    The United States has abundant mineral resources critical to the low-carbon economy. Chinese dominance of both manufacturing and mineral extraction and processing for the low-carbon economy is a geopolitical concern that is rapidly becoming a geopolitical threat to the future. By unleashing American innovation and production of clean technologies, we can export these products around the world, both reducing emissions globally and reducing China’s stranglehold on clean energy supply chains. President Trump’s record proves he is the right person at the right time to address the threat posed by the Chinese Communist Party and Chairman Xi.

    Conclusion

    Republicans can adopt a winning energy policy and political strategy by emphasizing market-driven solutions that support our national interests over government mandates. The United States has been blessed from on high with abundant energy resources in both fossil fuels and renewables, and a diverse energy policy will lower domestic energy costs while strengthening our position as a net energy exporter. By focusing on energy security and pragmatic environmental stewardship, we can ensure a prosperous and secure future for America and our friends.

    Market realities must drive Republicans back to a renewed sense of enthusiasm for an “all-of-the-above” energy policy that recognizes the importance of the low-carbon sector to our economy without forsaking oil and gas resources, as the Biden administration has. This approach will allow the United States to dominate the world’s energy markets once again. This strategy will lead to cleaner air and water for our people, while at the same time delivering economic prosperity and national security to our country. Ours is a commonsense approach to integrating our national security, energy security, economic and environmental interests, and is certain to appeal to voters across the political spectrum. It is a winning message for the GOP to take into November.

    Robert O’Brien served as the 27th U.S. National Security Advisor from 2019-2021.

    Neil Auerbach is the founder and CEO of Hudson Sustainable Group, an investor in sustainable energy, and a former partner of Goldman Sachs. Neil is a senior advisor for the American Conservation Coalition. 

    Tyler Durden
    Wed, 07/17/2024 – 16:20

  • Nasdaq Pukes To Worst Day In 19 Months, Bonds & Black Gold Bid
    Nasdaq Pukes To Worst Day In 19 Months, Bonds & Black Gold Bid

    So much for the “broadening out of the rally” bullshit!

    Semis were slammed – their biggest drop since the COVID lockdowns – as the market had trouble with weaker than expected 3Q guidance from European semi bellwether, ASML (and headline chatter of further crackdowns on chip exports to China)

    Source: Bloomberg

    The Nasdaq damn broke today as it suffered its biggest single-day drop since Dec 2022…

    Source: Bloomberg

    Small Caps actually had a down day today (though outperformed Nasdaq) as The Dow hit a new record high…

    The last five days have seen Small Caps (Russell 2000) outperform Large Caps (Russell 1000) by the largest amount in history (going back to 1979)…

    Source: Bloomberg

    The Magnificent 7 stocks have lost a staggering $1.1 Trillion in market cap in the last five days…

    Source: Bloomberg

    But that’s still a drop in ocean in context of how far they have come…

    Source: Bloomberg

    Under the hood, Goldman’s trading desk noted that volumes +17% vs the trailing 20 days and can feel it flow-wise on the desk. S&P top of book tracking much higher as well +11%. Our floor is skewed much better for sale (-8%) with most moving their feet in TMT. Across Semis, we have seen significant supply most concentrated in AI winners. We have also seen supply across rideshare names (UBER, LYFT) + ADRs.

    • LO activity concentrated in tech, followed by Hcare but slow elsewhere.

    • HFs also moving their feet in tech, but also active across Consumer Discretionary on the buy side, vs selling Fins, and Hcare. Short ratios elevated across staples.

    For context, in cumulative notional terms, the de-grossing activity over the past 5 sessions is the largest since Nov ’22 and ranks in the 99th percentile on a 5-year lookback…

    Dovish comments from Fed’s Waller were largely ignored – though did provide some juice for the initial short squeeze on Small Caps at the cash open…

    Source: Bloomberg

    Treasuries were mixed today with the long-end very modestly outperforming overall (2Y +1bps, 30Y -1bps). Weakness overnight gave way to a strong bid during the US session as equities sold off…

    Source: Bloomberg

    Rate-cut expectations remained dovish with 2025 expectations rising today…

    Source: Bloomberg

    The dollar tumbled further below June Payrolls lows today, back near two-month lows…

    Source: Bloomberg

    Much of the dollar weakness was the further implosion of the yen carry trade (which strengthens the yen vs the dollar)…

    Source: Bloomberg

    Crude prices soared today, helped by a big inventory decline…

    Source: Bloomberg

    Bitcoin ETFs continued to see stronger inflows…

    Source: Bloomberg

    But bitcoin was weighed down modestly today by the overall tech turbulence (notably strong relative performance though)…

    Source: Bloomberg

    Gold dipped back from record highs but spot found support at $2450…

    Source: Bloomberg

    Finally, if you thought you had a bad day in the markets, President Biden’s odds of getting the nomination collapsed… again…

    Source: Bloomberg

    Kamala’s awful quiet, eh?

    Tyler Durden
    Wed, 07/17/2024 – 16:00

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Jul 17

Today’s News 17th July 2024

  • German Govt Launches Massive Crackdown On (Right Wing) Press Freedom
    German Govt Launches Massive Crackdown On (Right Wing) Press Freedom

    Via Remix News,

    In what may be the most aggressive move against press freedom since the Second World War, Germany has banned Compact Magazine and had over 200 police officers raid the office and home of the publisher, Jürgen Elsässer, along with the homes of other employees and financial backers.

    At 6:00 a.m., masked German police officers raided the home of Elsässer and confiscated hard drives and assets. The magazine has a large readership in Germany and a Youtube channel with millions of views and over 300,000 subscribers. The website and its social media channels have now been erased from the web.

    Far-left German Interior Minister Nancy Faeser took to X to celebrate the banning of the publication, which she says she personally ordered.

    “Today, I banned the right-wing extremist ‘COMPACT Magazine.’ It agitates in an unspeakable way against Jews, against Muslims and against our democracy. Our ban is a hard blow against the right-wing extremist scene,” she wrote.

    While speaking about the incident, she stated:

    “We will not allow ethnic definitions of who belongs to Germany and who does not. Our constitutional state protects all those who are persecuted because of their faith, their origin, their skin color or their democratic stance.”

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    The press was informed ahead of time of the raid, and was on hand to photograph Elsässer in his night robe while he was surrounded by masked police officers. In addition, his video production company, Conspect Film GmbH was also banned.

    It also marked the first time a media outlet of this size has been targeted in such an extraordinary manner,

    Alternative for Germany (AfD) co-leaders, Alice Weidel and Tino Chrupalla issued a joint statement on X, writing:

    “The ban on Compact magazine is a serious blow to press freedom. We are watching these events with great concern. Banning a press organ means denying discourse and diversity of opinion. A ban is always the most far-reaching step. Federal Minister of the Interior Nancy Faeser is abusing her powers to suppress critical reporting. We call on the minister to respect press freedom.”

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    According to Germany’s Welt, the ban came about because Compact allegedly violated the constitutional order in a “combative and aggressive manner.”

    The private homes of various employees were also raided in Brandenburg, Hesse, Saxony, and Saxony-Anhalt, including the home of Elsässer in Falkensee near Berlin. In addition, financial backers of the outlet also had their properties raided and digital and personal assets confiscated.

    The Nöbeditz manor of former AfD politician André Poggenburg in Stößen near Naumburg was also reportedly raided.

    What is Compact Magazine?

    Compact has described itself as a “magazine for sovereignty.” As Welt notes, on the magazine’s website, which has now been deleted from the web, along with its social media channels, it wrote that “It does not prescribe a political line, but rather an attitude: That is walking upright, that is the spirit of freedom and pride in our history.”

    Welt, which is a mouthpiece of the rival Christian Democrats party, clearly is against the magazine, writing: “What the editors meant by this could be seen on the front pages. Compact presented its readers with doomsday scenarios and racism, conspiracy theories and agitation against politicians from the hated ‘old parties’ — and as a way out of all this misery: the AfD.”

    “Compact specifically addressed right-wing extremists, conspiracy theorists and opponents of democracy with well-known narratives: of the ‘lying press’ and ‘high finance,’ of ‘corrupt politicians’ and ‘powerful puppet masters in the background’ who were deceiving them.”

    However, Welt does not note how any of this is illegal or even factually incorrect, as high finance exists, there are corrupt politicians, and in the background, there are powerful people who call the shots in many different scenarios. Calling them “puppet masters” may be a theatrical take, and some may take the phrase “lying press” as a harsh term to use against journalists, but the fact that many journalists have lied or distorted the truth has been proven to be correct on many occasions.

    It is hard to address many of these allegations, as the entire website has been erased from the web.

    Welt also goes on to detail how Compact became highly successful during the pandemic, and was making substantial profit margins on its merchandise sales, which allowed the team to “professionalize” the media outlet’s operations.

    The Office for the Protection of the Constitution (BfV) placed the publication under monitoring in 2021, and was listed as a “confirmed extremist endeavor.”

    The ban is sure to be met with legal challenges, and even some on the left are questioning the legitimacy of such a ban, as it appears to violate a number of provisions on free speech guaranteed in the constitution.

    German media outlet Tichys Einblick writes that “The Compact magazine undoubtedly represents right-wing extremist positions and calls for the overthrow of the government. However, Article 5 of the Basic Law also protects these radical views.”

    Speaking with constitutional lawyer and former Federal Minister of Defense Rupert Scholz, he said: “Freedom of opinion enjoys such a high constitutional status that it cannot simply be undermined by an executive decision. A medium can only be banned if it represents a revolutionary position, i.e., calls for the overthrow of the existing order by force. But that would then have to lead to criminal proceedings.”

    In other words, Elsässer would first have to be prosecuted and convicted before his outlet could be shut down; however, there are so far no signs that he has even been charged with anything. Nevertheless, his entire publication was targeted for closure before any criminal proceedings even began.

    Scholz also stated that in his opinion, the “ethnic concept of the people” that Compact uses, which makes a distinction between ethnic Germans and those simply with German citizenship, is also “not unconstitutional” and is protected constitutional speech. He added that “Faeser’s actions are clearly unconstitutional.”

    Other top lawyers took to X to write about the unprecedented raid, including, Carsten Brennecke, a lawyer in the renowned Chancellor Höcker law firm. He stated that among other things, the presence of a press photographer for the raid was clearly a criminal act.

    “The Compact magazine is banned and, strangely and of course purely by chance, there are images staged for press effect of the people being attacked, taken by surprise in their private lives and presented to the press. Such ‘coincidences’ are becoming more frequent. Just think of the Reich Citizens’ raid, the search of Zumwinkel or Cardinal Woelki. Of course, leaking search dates in advance by ministries or other authorities for the purpose of self-promotion is not only potentially punishable, it also represents an unlawful infringement of the general personal rights of those affected,” Brennecke writes on X.

    https://platform.twitter.com/widgets.js

    In addition, journalists are also pouring on the criticism, including from various mainstream papers. For instance, Zeit journalist Lars Weisbrod wrote on X. “Freedom of the press is so important. I think that in Germany a court should always decide first about banning a medium, not the Interior Minister or the Office for the Protection of the Constitution,” wrote Weisbrod. He also questioned whether such a ban is even constitutionally possible

    Mal juristische Fragen beiseite: ich finde das kein gutes werbeFoto für einen liberalen rechtsstaat. Sturmhauben-cops klingeln morgens rechtsradikale Publizisten aus dem Bett und bringen gleich presse mit die möglichst peinliche Fotos davon macht? Finde ich komplett verkehrt pic.twitter.com/lrr0xw64gV

    — @larsweisbrod@det.social (@larsweisbrod) July 16, 2024

    Faeser herself famously wrote for Antifa Magazine, which was a publication supported by the VVN-BdA, which had been classified by the Office Protection of the Constitution (BfV) as “left-wing extremist.” She wrote the article shortly before she became interior minister.

    As for the publisher of Compact, the 67-year-old editor, Jürgen Elsässer, originally aligned with the far left and supposedly coined the phrase: “Never again Germany,” a popular slogan shouted at Antifa events. He wrote for a variety of left-wing parties before he took on a far more right-wing oriented world view and founded Compact in the 2010s.

    Tyler Durden
    Wed, 07/17/2024 – 02:00

  • The Hope For National Unity In The Shadow Of A Failing State
    The Hope For National Unity In The Shadow Of A Failing State

    Authored by Tho Bishop via The Mises Institute,

    For the second time in three weeks, a political event actually mattered. The attempted assassination of Donald Trump, evaded only by a short turn of the head, has created a rare moment of national reflection about the current state of American politics. Whether or not it is a moment that has true historical relevance beyond simply influencing a single election or canonizing a new iconic photo in future school textbooks will be decided by how seriously its lessons are internalized by the public.

    First of all, the most noteworthy aspects of this attempted attack are precisely how unsurprising such an extraordinary act was. If one takes the regime’s opposition to Donald Trump seriously and recognizes how weakened, the regime’s hold on political opinion is, then the long expectation has been for some sort of black swan event to emerge to prevent a democratic process from dictating who holds the presidency of the next four years.

    Acknowledging this does not require a belief that the shooter himself was some sort of regime asset.

    The environment for violence has been stoked for years, with every major institution – from the corporate press to the Supreme Court – pushing into the zeitgeist the idea that Donald Trump, a relative political moderate, represented a fascist threat that would destroy all that is sacred in American politics.

    If one sincerely believes that Trump is a modern Hitler, one has the moral obligation to attempt to kill such a figure if one has the chance.

    From such a worldview, doing so would be a true act of righteous self-sacrifice, a rare incident of heroism in value in a time when such qualities are in low supply.

    The problem, of course, is the absurdity of this comparison. It is Trump’s allies and supporters that have faced the brunt of prosecutions, not his enemies. It is Trump’s enemies that have actively worked to undermine political norms related to the conduct of elections, legislative procedure, and the treatment of courts. It is Trump’s greatest critics, in both parties, that have advocated for a more muscular America abroad, both via the military and the abuse of the dollar.

    Trump’s failings, and there are many, have always been those areas where he most resembles his political critics.

    A smarter regime would have been more successful at co-opting Trump’s populist appeal for their own. Instead, their refusal to ever embrace Trump has served to make him a symbol of radical rejection of the ruling class. His immediate response to a bullet tearing a hole in his ear is a reminder of why that is, his bravado and rhetorical patriotism are a constant and striking reminder of how unimpressive the regime’s leaders are and just how much they despise the public they plunder.

    This unimpressive nature of the modern regime makes it all the more difficult to discern the true story about Trump’s potential assassination. Government agents have demonstrated they have no problem using assets to terminate pesky political figures. At the same time, it is equally believable that the regime simply lacks the competency to properly protect those they are charged to protect.

    As such, it becomes difficult to figure out whether obvious questions, such as how was a young man with a rifle able to take a sniper position at an identified high-priority station, are answered best by incompetency or sinister conspiracy. Just as Trump’s bloodied fist pump illustrates why he inspires so much of America, the image of a female agent charged with his protection cowering behind the former president and struggling with her holster is the perfect illustration of the modern American state.

    Thankfully for Americans, the FBI has been charged with doing a thorough investigation into the matter.

    Going forward, the question is what lasting impact this brush with death has on the ever-more-likely second Trump Administration.

    Going into the well-timed Republican National Convention, Trump has talked about his desire to “unify” the country.

    Unity in the hands of most politicians is a word that should send shivers down one’s spine. Political unity means bipartisanship, the triumph of the regime. National unity gave us the New Deal, the Civil Rights Act, the Patriot Act, and the Iraq War, among other disasters. It is wrapped up in the state’s most powerful propaganda, usually some form of paternal patriotism.

    If war is the health of the state, political unity has been the instrument for applying the medicine.

    It should also give us pause that the closest Trump came to a “unity” moment during his first term was the nation’s response to covid-19, resulting in the canonization of Fauci and prompting the greatest wealth transfer in modern history.

    A defense of this moment, however, would highlight that Trump’s response to covid, beyond the economic response, was largely a federalist moment in terms of state action. It was the ones who decried him as an authoritarian fascist who demanded a more robust unleashing of federal power to crush those who demanded medical freedom.

    What Trump could mean by “unity” going forward is, however, still an open question. One suggestion he has already made is to drop criminal cases against him.

    What national unity could look like is a consolidation of public resentment against the regime that has been so determined to destroy the likely next president. 

    Already, Trump avoided a major pitfall by announcing J.D. Vance, not a “respectable” neoconservative such as Nikki Haley, as his Vice Presidential nominee, which is a step in the right direction. While some of Vance’s economic views are valid reasons for concern, he does better complement, as Daniel McCarthy has noted, the populist America First agenda that is so anathema to the worst elements of the Republican Party.

    Similarly, to the extent that something resembling a substantial platform for Trump’s campaign exists, there is a consistent drumbeat of attacking the administrative state, undermining federal agencies, and even providing greater monetary freedom. It is noteworthy that along with Trump’s newfound appreciation for Bitcoin (or at least, political donations from the industry), the infamous Project 2025 has even suggested the need for considering “alternatives to the Federal Reserve.”

    The great value of these reforms is that they are all necessary to striking at what is ultimately the root of the toxic nature of modern politics: the consolidation of power in the hands of a decadent and delusional imperial city. So long as moments of crisis result in political unity, these moments will only serve to continue to fuel the cancer that plagues the nation.

    It is quite likely that the attempted assassination of Donald Trump will be viewed as a defining moment in the re-establishment of a Trump Administration and whatever lasting impact on American politics that comes with it. Should Trump’s call for “unity” result in further moderation of his politics, the result could ultimately still provide a win for the regime that either desired his death or was at least disinterested in preventing it.

    If, however, it serves as a moment to fuel a Trump Administration that better acts on the themes of his candidacy, then it could achieve something that is truly worth celebrating: a nation better unified as a result of a diminished national government.

    Tyler Durden
    Tue, 07/16/2024 – 23:55

  • Antioxidant Supplement Shows Promise For OCD Treatment
    Antioxidant Supplement Shows Promise For OCD Treatment

    Authored by Susan C. Olmstead via The Epoch Times (emphasis ours),

    The antioxidant n-acetylcysteine (NAC) is emerging as a promising treatment for obsessive-compulsive disorder, offering new hope for the approximately 50 percent of adults with obsessive-compulsive disorder (OCD) who do not respond to customary treatments.

    (Pormezz/Shutterstock)

    Researchers have been accumulating evidence over the last few years that NAC, a derivative of the amino acid cysteine, available as an over-the-counter supplement, could help people with OCD. It’s also showing promise in the treatment of patients with the hair-pulling disorder trichotillomania and is being investigated as a treatment for compulsive gamblers and drinkers.

    However, research into NAC has been slow, in part because the drug, now available without a prescription, has limited commercial potential, according to Dr. Massimo Caroll,  a pharmacologist and clinical toxicologist in the Department of Diagnostics and Public Health at the University of Verona in Italy.

    Currently, first-line treatments for OCD are usually selective serotonin reuptake inhibitors (SSRIs) and cognitive-behavioral therapy (CBT). However, “approximately 40 percent to 60 percent of OCD patients do not achieve adequate symptom relief from first-line treatments or experience adverse events/reactions that preclude continuation of the therapy,” Dr. Carollo told The Epoch Times.

    “This high rate of treatment resistance underscores the complexity of OCD and the need for alternative therapeutic approaches,” he said. This complexity, he wrote in a letter in the February issue of the journal CNS Neuroscience & Therapeutics, “likely emerges from a multifaceted interplay of factors, encompassing neurochemical imbalances, genetic predispositions, environmental triggers, and psychological influences.”

    Dr. Carollo and colleagues published the letter to raise awareness of the use of NAC to treat OCD.

    In it, they wrote that to the best of their knowledge, despite NAC’s potential effectiveness, “only five randomized controlled trials have tested the potential efficacy of NAC as an adjunctive treatment in OCD.” Four of these studies reported significant symptom improvement as measured by Yale-Brown Obsessive-Compulsive Scale (Y-BOCS) scores at dosages of 2,000 milligrams (mg) to 3,000 mg per day, they wrote.

    NAC has been proven to be safe even at these high dosages, they claim. But because the NAC products now available on the market typically contain 200 mg to 600 mg, the practicality of achieving a therapeutic dose is limited.

    OCD and Serotonin

    NAC’s potential effectiveness in treating OCD suggests that the disorder’s cause may arise in the body’s glutamatergic system, according to Dr. Carollo.

    OCD may be due to problems with the excitatory neurotransmitter glutamate, not the inhibitory neurotransmitter serotonin, some researchers believe, and so it may be better treated with NAC than with SSRIs. But investigation into the role of glutamate in OCD has been limited, Dr. Carollo said.

    “The majority of OCD treatments have traditionally focused on modulating serotonin levels, as evidenced by the widespread use of SSRIs [to treat OCD],” Dr. Carollo told The Epoch Times. “This emphasis on SSRIs is not unique to OCD, but extends to other psychiatric disorders such as depression and anxiety, where serotonergic dysfunction is also a key target.”

    Abnormal levels of glutamate have been observed in specific brain regions of people with OCD, such as the anterior cingulate cortex, crucial for attention allocation and emotion regulation, Dr. Carollo said.

    These findings, along with documented altered functioning of glutamate receptors and transporters, suggest that glutamatergic dysfunction plays a significant role in OCD, he explained, although it likely does not explain the entirety of the disorder. “More research is needed to explore glutamate-targeted treatments,” he said.

    More Evidence, Funding Needed

    Dr. Carollo cited three reasons for the lack of large-scale trials on the use of NAC for OCD:

    1. Limited financial incentives for conducting expensive large-scale trials. “Pharmaceutical companies typically fund large trials for new drugs with strong commercial potential, a scenario less applicable to NAC,” he said.
    2. The need for more conclusive evidence regarding NAC’s optimal dosages, long-term efficacy, and safety in the treatment of OCD. “This necessitates phase II and III studies, which require considerable time and resources,” he said.
    3. The historical focus on serotonergic mechanisms behind OCD, which may have diverted attention and resources away from exploring alternative pathways.

    Does NAC Help Children With OCD?

    NAC may be less helpful for children with OCD, according to a review article published in the June issue of the journal Pediatric Drugs.

    In children, the practice guidelines recommend CBT monotherapy for youth with mild to moderate OCD, and combined treatment for those with more severe presentations, according to coauthor Eric Storch, a professor, vice chair, and head of psychology in the Menninger Department of Psychiatry and Behavioral Sciences at the Baylor College of Medicine in Houston, Texas.

    “NAC should not be a first-line treatment, given the very limited supporting data for youth with OCD (as well as adults with OCD),” Mr. Storch, who has a doctorate in clinical psychology, told The Epoch Times.

    “I certainly hope that there is more research, but at the same time what has been reported has not been supportive of NAC for pediatric OCD treatment,” he said. “Understanding underlying mechanisms better would be a helpful avenue. Researching dissemination of effective treatments would also be helpful.”

    About 10 percent of children are refractory to treatment, he said, and a recent study (published in May in the Journal of the American Academy of Child and Adolescent Psychiatry) showed that 90 percent of youth with OCD were either in remission or much improved three years later.

    Tyler Durden
    Tue, 07/16/2024 – 23:30

  • CBP: Southern Border Arrests In June Reach Lowest Number Since January 2021
    CBP: Southern Border Arrests In June Reach Lowest Number Since January 2021

    Authored by Lorenz Duchamps via The Epoch Times (emphasis ours),

    The number of illegal immigrants arrested at the U.S. southern border fell by nearly 30 percent in June, reaching the lowest monthly total since January 2021, according to figures released this week.

    Customs and Border Patrol officers arrive with a vehicle after a group of illegal immigrants walked from Mexico into the United States at Jacumba Hot Springs, Calif., on June 5, 2024. (Frederic J. Brown/AFP via Getty Images)

    Arrests totaled 83,536 illegal immigrants in June, down from 117,901 in May, Customs and Border Protection (CBP) announced in a June 15 statement.

    The agency attributed the decline to President Joe Biden’s order announced on June 4 that halts asylum requests at the southern border once the average daily number of illegal immigrant arrests exceeds 2,500 for seven days.

    “Recent border security measures have made a meaningful impact on our ability to impose consequences for those crossing unlawfully, leading to a decline of 29 percent in U.S. Border Patrol apprehensions from May to June,” Troy Miller, acting CBP commissioner, said in a statement.

    President Biden issued the proclamation as his administration had been dealing with historic levels of illegal immigrant encounters at the U.S.–Mexico border, while Americans rank border security as one of the country’s top concerns.

    The order is a proclamation under Immigration and Nationality Act sections 212(f) and 215(a) and prohibits immigrants who cross the southern border unlawfully from receiving asylum when, as Homeland Security Secretary Alejandro Mayorkas said in a June statement, “high levels of encounters at the southern border exceed our ability to deliver timely consequences.”

    This is the same legal rationale former President Donald Trump used to take some of his toughest executive actions to address border security during his term.

    Meanwhile, Mr. Miller also said the seven-day average of border-crossing encounters has decreased by more than 50 percent in the past six weeks to below 1,900 per day.

    “We are continuing to work with international partners to go after transnational criminal organizations that traffic in chaos and prioritize profit over human lives,” he said.

    Since the executive action went into effect on June 5, the Department of Homeland Security has “removed or returned more than 70,000 individuals to more than 170 countries, including by operating more than 150 international repatriation flights,” according to the CBP.

    The border agency noted that the total number of removals and returns over the past year is the highest of any year since 2010.

    Decline in Illegal Border Crossings

    Arrests have fallen by more than half in recent months after reaching an all-time high of 249,785 in December.

    Border officials said the agency has registered sharp declines across various nationalities, including Mexicans as well as Chinese people, who generally fly to Ecuador and travel to the U.S. border over land.

    San Diego was the busiest of the Border Patrol’s nine sectors bordering Mexico by number of arrests, followed by Tucson, Arizona.

    In addition, more than 41,800 immigrants were processed through an online appointment app called CBP One in June. The agency said more than 680,500 immigrants have successfully scheduled appointments since the app was introduced in January 2023.

    “The top nationalities processed subsequent to arrival for their appointment are Venezuelan, Cuban, and Haitian,” the border agency stated.

    Meanwhile, nearly 500,000 migrants from four countries have been allowed entry into the country under the Biden administration’s Cuba, Haiti, Nicaragua, and Venezuela CHNV parole program from October 2022 through June 2024, according to the CBP.

    The agency said they include 104,130 Cubans, 194,027 Haitians, 86,101 Nicaraguans, and 110,541 Venezuelans.

    The parole program was set in motion for Venezuelans by President Biden in October 2022. It was intended to help ease the number of illegal border crossings by flying people from certain countries directly to the United States. It was expanded in January 2023 to include nationals from Cuba, Haiti, and Nicaragua.

    The Associated Press contributed to this report.

    From NTD News

    Tyler Durden
    Tue, 07/16/2024 – 23:05

  • Trump Reveals Key Pillars Of "Trumponomics": Low Taxes, Sky High Tariffs, Powell Not Fired, Treasury Secretary Dimon And Much More
    Trump Reveals Key Pillars Of “Trumponomics”: Low Taxes, Sky High Tariffs, Powell Not Fired, Treasury Secretary Dimon And Much More

    Before the failed assassination attempt, before the catastrophic (for Biden) first presidential debate, Donald Trump gave Bloomberg an extensive interview in which he laid out the core tenets of Trumponomics 2.0 that will define his next presidency. Here are the key highlights:

    According to the interview, if Trump wins, he will…

    • enforce huge bilateral sanctions even though he claims “I don’t love sanctions,” he says. He keeps circling back to William McKinley, who he says raised enough revenue through tariffs during his turn-of-the-20th-century presidency to avoid instituting a federal income tax yet never got the appropriate credit.

    • allow Jerome Powell to serve out his term as chair of the Federal Reserve, which runs through May 2026

    • will lower the corporate tax rate to as low as 15%

    • no longer plans to ban TikTok.

    • considers Jamie Dimon to serve as secretary of the Department of the Treasury

    • ambivalent (if not outright hostile) to the idea of protecting Taiwan from Chinese aggression and to US efforts to punish Putin for invading Ukraine.

    While the broad strokes of Trumponomics might not be different from what they were during his first term, what’s new is the speed and efficiency with which he intends to enact them. He believes he understands the levers of power much more deeply now, including the importance of selecting the right people for the right jobs. “We had great people, but I had some people that I would not have chosen for a second time,” he says. “Now, I know everybody. Now, I am truly experienced.”

    Maybe he is, or maybe he just is surrounded by better people. Here is the inner circle of Trump economic policy advisors:

    In a world where everything else has been tried – and has pushed US debt to stratospheric levels that virtually assure the US will lose the dollar reserve status in coming years, Trump is betting that his unorthodox agenda of tax cuts, more oil, less regulation, higher tariffs and fewer foreign financial commitments will appeal to enough swing state voters to hand him the election. And it’s working: debate and assassination attempt boosts aside, recent polling has showed that Black and Hispanic men are shifting to the Republican Party as they tire of historically high prices for food, housing and gas. As many as 20% of Black men now back Trump while Biden is struggling to sell key voters on his catastrophic economic record (not to mention the panic over his age). While Trump is almost assured a win in November according to online prediction markets, many Democratic leaders are increasingly concerned he’ll also deliver Republicans control of the House and Senate along with the White House: a sweeping red tsunami. In such an outcome, Trump would have unprecedented leverage to shape the US economy, the climate for global businesses and trade with allies for decades to come.

    But there is one hurdle: while the business leaders Trump would be working with prize stability and certainty, they didn’t get much of either in Trump’s first presidency. This time around, his campaign is more professionally run, but he hasn’t produced a detailed economic policy agenda to reassure them. The vacuum has generated confusion among those who are planning for a second Trump term.

    So Trump took advantage of the interview to set the record straight on some key items:

    The Fed

    In late April, a few of Trump’s informal policy advisers leaked to the Wall Street Journal an explosive draft proposal to severely curb the independence of the Federal Reserve. It was inferred that Trump had endorsed the idea, which didn’t seem like a stretch given his prior attacks on Powell. In fact, the Trump campaign insisted he’d endorsed neither the proposal nor the leak, and his top campaign brass were furious about it. But the episode was a consequence of Trump’s still-unformed policy, which has left wonks from such think tanks as the Heritage Foundation battling to fill in the details and jockey for influence. Other conservative policy entrepreneurs have been pushing proposals to devalue the dollar or institute a flat tax. At Mar-a-Lago, Trump makes it clear he’s fed up with the unauthorized freelancing. “There’s a lot of false information,” he complains. He’s eager to set the record straight on several topics.

    First, there’s Powell. While in February, Trump told Fox News that he wouldn’t reappoint the Fed chair; now he states unequivocally that he’ll let Powell finish his term, which would last well into a second Trump administration. “I would let him serve it out,” Trump says, “especially if I thought he was doing the right thing.”

    Even so, Trump has thoughts on interest-rate policy, at least in the near term. The Fed, he warns, should abstain from cutting rates before the November election and giving the economy, and Biden, a boost. That would be a problem for a market that has already priced in not one but two rate cuts in the second half (the first of which in September). “It’s something that they know they shouldn’t be doing,” he said.

    Inflation

    Trump has been ruthlessly critical of Biden’s stewardship of the economy. But he sees, in the anger generated by high prices and interest rates, an opportunity to woo voters who typically don’t support Republicans, such as Black and Hispanic men. Trump says he’ll bring down prices by opening up the US to more oil and gas drilling. “We have more liquid gold than anybody,” he says, even though the tariffs he plans on implementing will certainly lead to higher prices for imported goods. A report from the Peterson Institute estimates that Trump’s tariff regime would impose an additional annual cost of $1,700 for the average middle-income family. And Oxford Economics estimates that Trump’s combination of tariffs, immigration restrictions and extended tax cuts could also increase inflation and slow economic growth. The through line of these policies, says Bernard Yaros, lead US economist at Oxford Economics, is “an increase in inflation expectations.”

    Immigration

    He believes harsh restrictions are key to boosting domestic wages and employment. He characterizes immigration restrictions as “the biggest [factor] of all” in how he’d reshape the economy, with particular benefits for the minorities he’s eager to win over. “The Black people are going to be decimated by the millions of people that are coming into the country,” he says. “They’re already feeling it. Their wages have gone way down. Their jobs are being taken by the migrants coming in illegally into the country.” Trump’s language turns apocalyptic. “The Black population in this country is going to die because of what’s happened, what’s going to happen to their jobs—their jobs, their housing, everything,” he continues. “I want to stop that.”

    Budget deficit

    Trump’s desire to renew his landmark 2017 Tax Cuts and Jobs Act and to further reduce corporate taxes means that the budget deficit, having ballooned to war levels, will not shrink any time soon if ever. Coupled with the upward pressure on interest rates that economists expect from his protectionist policies, Trump’s plans could exacerbate the country’s growing debt burden. In the end, however, Trump’s other positions could be enough to sway business leaders to his side. Harold Hamm, a Trump donor and the executive chairman of oil giant Continental Resources Inc., writes in an email: “There seems to be outright hostility to free markets in the Biden Administration. As a result, capital is parked on the sidelines. Why? Because of regulatory uncertainty and in some cases downright regulatory hostility toward certain sectors.” Hamm cites the pause Biden put on liquefied natural gas projects in January as one example. “When Trump is re-elected,” he predicts, “that capital that was parked on the sidelines will be unleashed once again.”

    Treasury Secretary Dimon

    It is no secret that most Fortune 1000 CEOs have never been fans of Trump, but slowly the tide is turning. Overnight, the world’s richest man, Elon Musk, announced he would donate $45 million a month to a Trump PAC. Expect many others to follow. But the biggest praise for Trump in recent months has come from a card-carrying Democrat and the CEO of the largest US bank: “Be honest,” Jamie Dimon said at the World Economic Forum in Davos in January. “He was kind of right about NATO, kind of right about immigration. He grew the economy quite well. Tax reform worked. He was right about some of China. … He wasn’t wrong about some of these critical issues, and that’s why they’re voting for him.” According to Bloomberg, Trump relishes the compliment. He’s changed his view of the man he attacked on Truth Social last year as “Highly overrated Globalist Jamie Dimon” and now says he could envision Dimon, who’s thought to be contemplating a political career, as his secretary of the Treasury. “He is somebody that I would consider,” Trump says.

    Tariffs and Foreign Policy

    As president, Trump shattered the long-standing Republican orthodoxy of favoring free trade. He says he’ll go further if reelected. To Bloomberg, he offered an impassioned defense of US tariffs — he’s been studying McKinley, dubbing him “the Tariff King” — to make it clear he intends to ratchet up levies not just on China but on the European Union, too. “McKinley made this country rich,” Trump says. “He was the most underrated president.” In Trump’s reading of history, McKinley’s successors squandered his legacy on costly government programs such as the New Deal (“the whole thing with the parks and the dams”) and unjustly poisoned an important tool for economic statecraft. “I can’t believe how many people are negative on tariffs that are actually smart,” Trump says. “Man, is it good for negotiation. I’ve had guys, I’ve had countries that were potentially extremely hostile coming to me and saying, ‘Sir, please stop with the tariff stuff.’”

    Another confirmation that Trump was right: despite rampant criticism, Biden maintained Trump’s tariffs on China, even increasing ones on steel, aluminum, semiconductors, electric vehicles, batteries and other goods. “This is going to add price inflation across the board, all in the name of ‘tough guy’ election-year politics,” Yaël Ossowski, deputy director of the Consumer Choice Center, a nonpartisan advocacy group, said in May. And sure enough, in Trumpworld, Biden’s actions are seen as validation that Trump was right, and his Democratic critics were wrong, about the threat China poses to the US economy and security. Trump is eager to prescribe more of the same medicine, including to European allies. In addition to targeting China for new tariffs of anywhere from 60% to 100%, he says he’d impose a 10% across-the-board tariff on imports from other countries, citing a familiar litany of complaints about foreign countries not buying enough US goods.

    “The ‘European Union’ sounds so lovely,” Trump says. “We love Scotland and Germany. We love all these places. But once you get past that, they treat us violently.” He mentions reluctance in Europe to import US automobiles and agricultural products as key drivers of the more than $200 billion trade deficit, a statistic he considers a critical measure of economic fairness.

    Taiwan

    Asked about America’s commitment to defending Taiwan from China which views the Asian democracy as a breakaway province, Trump makes it clear that despite recent bipartisan support for Taiwan, he’s at best lukewarm about standing up to Chinese aggression. Part of his skepticism is grounded in economic resentment. “Taiwan took our chip business from us,” he says. “I mean, how stupid are we? They took all of our chip business. They’re immensely wealthy.” What he wants is for Taiwan to pay the US for protection. “I don’t think we’re any different from an insurance policy. Why? Why are we doing this?” he asks. Another factor driving his skepticism is what he regards as the practical difficulty of defending a small island on the other side of the globe. “Taiwan is 9,500 miles away,” he says. “It’s 68 miles away from China.” Abandoning the commitment to Taiwan would represent a dramatic shift in US foreign policy, as significant as halting support for Ukraine. But Trump sounds ready to radically alter the terms of these relationships.

    Saudi Arabia

    His views about Saudi Arabia are far more amicable. He says he’s spoken to Crown Prince Mohammed bin Salman Al Saud within the past six months, though he declines to elaborate on the nature and frequency of their talks. Asked if he worries that increasing US oil and gas production would upset the Saudis, who wish to maintain their primacy in energy, Trump replies that he doesn’t think so, pointing once more to a personal relationship. “He likes me, I like him,” he says of the crown prince. “They’re always going to need protection … they’re not naturally protected.” He adds: “I’ll always protect them.” Trump blames Biden and former President Barack Obama for eroding US relations with Saudi Arabia, saying they pushed the country toward a key adversary. “They’re not with us anymore,” he says. “They’re with China. But they don’t want to be with China. They want to be with us.”

    Ukraine

    Western allies are taking extensive measures to prepare for his possible return to the White House. These include increasing defense spending, transferring control of military aid for Ukraine to NATO, racing to improve relationships with Trump’s advisers and affiliated think tanks, and reaching out to Republican governors and thought leaders to divine his intentions. At a NATO summit in Washington, Ukrainian President Volodymyr Zelenskiy urged allies to act quickly to help his country repel Russia’s invasion instead of waiting for the election results in November to decide what to do. Dan Caldwell, a policy adviser at the right-leaning think tank Defense Priorities, says that “it’s actually in Europe’s interest to ‘America-proof’ their defense and to start operating on the assumption that the United States has other, more urgent national security priorities, and domestic ones as well.”

    TikTok

    The one exception to Trump’s claim to not want to harm US tech companies, and to privilege domestic ones over foreign ones, is TikTok. Discussing his recent embrace of the Chinese-owned social media platform, where he’s already quite popular, Trump mentions that banning it in the US would benefit a company and a CEO he has no desire to reward. “Now [that] I’m thinking about it, I’m for TikTok, because you need competition,” he says. “If you don’t have TikTok, you have Facebook and Instagram—and that’s, you know, that’s Zuckerberg.” It’s an outcome he won’t abide. He’s still stung by Facebook’s decision to bar him indefinitely in the wake of the Jan. 6 attacks. “All of a sudden,” Trump grouses, “I went from No. 1 to having nobody.”

    Crypto

    His reversal on cryptocurrency has been marked by similar dynamics: not long ago he criticized Bitcoin as a “scam” and a “disaster waiting to happen.” Now he says it and other cryptocurrencies should be “made in the USA.” He frames this about-face as a practical necessity. “If we don’t do it, China is going to figure it out, and China’s going to have it—or somebody else,” he says.

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    Not coincidentally, the crypto industry – spurned by the Democratic Party, brimming with cash and eager for friends in Washington – has now found its way to Trump. “Thanks largely to the actions of the Securities and Exchange Commission, the Biden administration has stumbled into becoming anti-crypto,” says Justin Slaughter, policy director at the crypto-focused investment firm Paradigm. “Given that about 20% of Democrats own crypto, per polling, and its ownership skews young and non-White, this was politically unwise.” Trump has moved to fill the void, declaring in a May speech that he would “stop Joe Biden’s crusade to crush crypto.” The following month he reaped the benefits, raising money from Bitcoin miners at a Mar-a-Lago fundraiser. Trump’s campaign then announced it would “build a crypto army,” and it now accepts crypto contributions.

    More in the full Bloomberg interview here.

    Tyler Durden
    Tue, 07/16/2024 – 22:40

  • Should Bump Stocks Be Illegal?
    Should Bump Stocks Be Illegal?

    Authored by Laurence Vance via The Future Of Freedom Foundation,

    In October of 2017, a gunman in a hotel room on the Las Vegas Strip fired multiple guns from his hotel window on a crowd of 22,000 gathered for an outdoor country music festival. After shooting over 1,000 rounds in about 10 minutes, 60 people lay dead, and more than 860 people were injured before the gunman took his own life. The incident was the deadliest mass shooting committed by an individual in the United States.

    Naturally, even while the dead bodies were still warm, gun-control advocates began clamoring for more and stricter gun-control laws—especially when it was discovered that the shooter had used a bump stock.

    Slide Fire Solutions SSAK-47-XRS-RH Bump Fire Stock mounted on a GP WASR-10/36 AK-47. Licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.

    A bump stock is a device that when attached to a semiautomatic rifle allows it to more rapidly fire bullets by harnessing the rifle’s recoil, but it does not turn a semiautomatic weapon into an automatic one. Between 2010 and 2018, Americans spent more than $100 million purchasing an estimated 520,000 bump stocks.

    Until the Las Vegas shooting, the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) classified bump stocks as a “firearm part” not subject to federal regulation. Only two states had banned bump stocks prior to the shooting, but since then, about 15 more states and the District of Columbia have banned them.

    But it’s not just Democrats and progressives who were advocating more gun-control laws after the Las Vegas shooting. After the shooting at Parkland High School the following year, and at the instigation of then-President Donald Trump, the ATF announced that it would reclassify bump stocks as machine guns subject to the National Firearms Act of 1934 and the Gun Control Act of 1968. Tweeted Trump: “As I promised, today the Department of Justice will issue the rule banning BUMP STOCKS with a mandated comment period. We will BAN all devices that turn legal weapons into illegal machine guns.”  The final rule issued by the ATF to ban bump stocks was published in the Federal Register on December 26, 2018. It banned new sales and required current owners to destroy or surrender their bump stocks to the government.

    The ban, however, was just overturned by the U.S. Supreme Court in the case of Garland v. Cargill.

    Michael Cargill, a Texas firearms store owner, sued the ATF in 2019 in the U.S. District Court for the Western District of Texas. He maintained that the ATF lacked authority to issue the final rule because its interpretation of what is a machine gun conflicted with the statutory definition. The suit was dismissed in 2020, and in 2021, a three-judge panel on the U.S. Court of Appeals for the Fifth Circuit upheld the ban. That opinion, however, was vacated in 2022, and the case was reheard en banc, then reversed in 2023. Upon appeal to the U.S. Supreme Court, the 2018 final rule was vacated in a 6–3 decision.

    Wrote Justice Clarence Thomas in his majority opinion:

    A bump stock does not convert a semiautomatic rifle into a machinegun any more than a shooter with a lightning-fast trigger finger does. Even with a bump stock, a semiautomatic rifle will fire only one shot for every “function of the trigger.” So, a bump stock cannot qualify as a machinegun.

    We conclude that a semiautomatic rifle equipped with a bump stock is not a “machinegun” because it does not fire more than one shot “by a single function of the trigger.”

    A bump stock is not a “machinegun” for another reason: Even if a semiautomatic rifle with a bump stock could fire more than one shot “by a single function of the trigger,” it would not do so “automatically.”

    Predictably, Justice Thomas was joined by conservative justices John Roberts, Brett Kavanaugh, Amy Coney Barrett, Samuel Alito, and Neil Gorsuch. And just as predictably, liberal justices Sonia Sotomayor, Elena Kagan, and Ketanji Brown Jackson dissented. “Today’s decision to reject that ordinary understanding will have deadly consequences,” said Justice Sotomayor.

    The Supreme Court certainly made the right decision. As Justice Thomas also wrote in his opinion:

    For many years, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) took the position that semiautomatic rifles equipped with bump stocks were not machineguns under the statute. On more than 10 separate occasions over several administrations, ATF consistently concluded that rifles equipped with bump stocks cannot “automatically” fire more than one shot “by a single function of the trigger.”

    And as Justice Alito wrote in his concurring opinion:

    The horrible shooting spree in Las Vegas in 2017 did not change the statutory text or its meaning. That event demonstrated that a semiautomatic rifle with a bump stock can have the same lethal effect as a machinegun, and it thus strengthened the case for amending §5845(b). But an event that highlights the need to amend a law does not itself change the law’s meaning.

    The Supreme Court’s decision struck a blow to the bureaucratic administrative state that makes its own laws independent of Congress, although Congress rarely does anything about it.

    Democrats in Congress are already trying to pass legislation to institute a federal ban on bump stocks. Republicans in Congress, many of whom supported a bump stock ban when Trump was president, are now opposing legislation to reinstate the ban. As usual, Republicans are wetting a finger and holding it up to see which way the political winds are blowing.

    The issue before us, then, is whether bump stocks should be illegal.

    There is no question that Congress could pass legislation to ban bump stocks, just like Congress has passed legislation to ban all sorts of things and all manner of activities. Although such a ban would clearly be unconstitutional, in reality, the Constitution has nothing to do with it. Congress has been passing unconstitutional legislation for over a hundred years; otherwise we wouldn’t have Social Security, Medicare, Medicaid, the Fair Labor Standards Act, the Elementary and Secondary Education Act, federal job training programs, the war on drugs, and a thousand other federal programs and agencies.

    There is also no question that the states could institute a bump stock ban, as at least 15 of them have already done. This is because, as James Madison explained in The Federalist, No. 45, “The powers delegated by the proposed Constitution to the Federal Government, are few and defined. Those which are to remain in the State Governments are numerous and indefinite.” Of course, it’s conceivable that such state bans might not survive a challenge under the Fourteenth Amendment.

    So, should bump stocks be illegal?

    Of course not.

    If the guns that bump stocks are attached to are not illegal, even though they can be used to kill large numbers of people in a short time, with or without the help of a bump stock, then neither should bump stocks be illegal.

    But more importantly, bump stocks shouldn’t be illegal for the same reason that no inanimate objects should be illegal.  An object—whether it be a gun, a knife, a hammer, a saw, a needle, or a pen—can be used for good or ill. Should pillows be banned because they can be used to smother someone?

    The right to own a bump stock is essential to a free society. It is what you do with the bump stock that is the issue. If someone uses it to help him shoot more people, then the fault lies with him, not the bump stock.

    The outrage of some family members who lost loved ones in the Las Vegas shooting over the Supreme Court’s decision is misplaced. The gunman who shot himself after killing all those people at the music festival is the culprit — not the gun, not the gun dealer that sold the gun, not the gun manufacturer, not the ammunition, not the ammunition manufacturer, not the store that sold the ammunition, and not the bump stock.

    Tyler Durden
    Tue, 07/16/2024 – 22:15

  • "Intentional" Failures? Rep. Cory Mills Triggers CNN Host, Vows 'J13 Committee' To Investigate Trump Assassination Attempt
    “Intentional” Failures? Rep. Cory Mills Triggers CNN Host, Vows ‘J13 Committee’ To Investigate Trump Assassination Attempt

    Former sniper and defense contractor Rep. Cory Mills (R-FL) triggered a CNN host on Tuesday after suggesting that “intentional” failures may have resulted in the assassination attempt on Donald Trump on Saturday.

    “The amount of negligence, the amount of mistakes that was made here, I have a very difficult time not leaning myself towards this was intentional, as opposed to fecklessness,” Mills told anchor Kate Bolduan.

    “If I have a building 160 yards perfectly adjacent to the stage, that’s an obvious threat,” he continued. “Especially with an elevated position that has overwatch? That’s a sniper’s paradise.“

    Mills, an Iraq war veteran and former DynCorp security specialist, co-founded private security company Pacem Defense, and says he’s overseen security for thousands of events.

    After a stunned Boulduan pressed Mills, he replied: “I sit here and scratch my head. You don’t want to be the conspiracist. That’s the issue. You walk this fine balance, but you look at it and think ‘How could this have gone so wrong?’.”

    Meanwhile, journalist Laura Loomer  spoke with Mills outside the Republican National Convention, where he told her that he plans to create a ‘J13 committee’ that’s ‘bigger than the J6 committee,’ and that he will push to be in charge of it.

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    Tyler Durden
    Tue, 07/16/2024 – 21:50

  • Increased Tax Rate Makes California Gas Highest in US
    Increased Tax Rate Makes California Gas Highest in US

    Authored by Jill McLaughlin via The Epoch Times (emphasis ours),

    Drivers in California are paying the highest prices in the nation for gas this summer by nearly 6 cents after a higher gas tax went into effect earlier this month.

    A gas station in Huntington Beach, Calif., on May 31, 2024. (John Fredricks/The Epoch Times)

    The extra 2 cents per gallon added July 1 was announced earlier this year by the California Department of Tax and Fee Administration. The department is required to adjust the gas and diesel fuel tax rates on July 1 each year, based on inflation.

    For diesel, the state’s tax rose from 44.1 cents a gallon to 45.4 cents.

    In all, the state charges about 60 cents a gallon now, which bumps up the already high cost state consumers pay at the pump during summer months, when gas stations are required to sell a special eco-friendly summer blend.

    The additional bump puts California at the top of the list for the highest gas price in the United States with an average price of $4.75 a gallon July 15. The national average was $1.25 less at $3.52 a gallon, according to the American Automobile Association (AAA).

    The state with the second most-expensive price for gas was Hawaii at $4.69 Monday, followed by Washington state at $4.27 and Oregon and Nevada both at $4 a gallon, AAA reported.

    California and Hawaii are often the top two states for gas prices, according to AAA affiliate Auto Club of Southern California Spokeswoman Anlleyn Venegas.

    “It’s usually between us and Hawaii,” Ms. Venegas told The Epoch Times. “We have higher taxes and just a general higher cost of living in California.”

    The Golden State also has the most drivers and must import fuel from out of state or overseas, she added.

    California’s fuel prices are historically elevated during the summer, when the state requires a special blend that adds about 20 cents to 25 cents per gallon.

    The state also adds a federal excise tax, 27 cents a gallon for the state’s cap-and-trade program, a low-carbon fuel tax of 11 cents per gallon, about 2 cents for underground gas storage fees, and another 3.7 percent in state and local taxes.

    Despite the higher tax, California’s gas prices were 16 cents lower a gallon Monday compared to the same day last year and 4 cents down from a week ago, AAA reported.

    Although the official numbers are not yet in, the drop in gas prices over last year was good news for drivers, Ms. Venegas said.

    “It’s already good news that we’re paying less than a year ago,” she said. “It’s a good thing.”

    Tyler Durden
    Tue, 07/16/2024 – 21:25

  • Widow Of Trump Rally Victim Refuses Biden's Phone Call
    Widow Of Trump Rally Victim Refuses Biden’s Phone Call

    Authored by Dmytro “Henry” Aleksandrov via Headline USA,

    The widow of the firefighter who was shot and killed during the assassination attempt against Donald Trump recently said that she rejected a phone call from Joe Biden because her conservative, Trump-supporting husband would not appreciate her talking to Biden.

    Helen Comperatore, the widow of Corey Comperatore, the person who died at the July 13, 2024, Trump rally / PHOTO: The New York Post via Twitter

    Helen Comperatore told the New York Post that Biden tried to call her after her husband, Corey Comperatore, died at the Trump rally in Butler, Pa., on July 13, 2024.

    “I didn’t talk to Biden. I didn’t want to talk to him. My husband was a devout Republican, and he would not have wanted me to talk to him,” she told the news source on July 15, 2024.

    Her husband was killed, and two people were seriously injured when Thomas Matthew Crooks tried to assassinate Trump while he was speaking at the rally.

    Helen then went on to say that she didn’t blame Biden for the death of her husband, even though he and the entire establishment have been spreading the hateful anti-Trump rhetoric for almost over the decade, which resulted in the shooting.

    “I don’t have any ill will towards Joe Biden. I’m not one of those people [who] gets involved in politics. I support Trump. That’s who I’m voting for, but I don’t have ill will towards Biden. He didn’t do anything bad to my husband. A 20-year-old despicable kid did,” she said.

    Her husband was praised as a hero after his daughter said that he died trying to protect her and the rest of his family at the rally.

    “He shielded my body from the bullet that came at us. He loved his family. He truly loved us enough to take a real bullet for us,” Allyson Comperatore, the victim’s daughter, said.

    People on social media agreed with Helen’s decision.

    “Understandable… Biden said it was time to put ‘Trump in the bullseye…’ [Then] her husband was murdered while someone tried to assassinate President Trump,” @USBornNRaised wrote.

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    Tyler Durden
    Tue, 07/16/2024 – 21:00

  • Top Five Reasons J.D. Vance Is The Perfect VP Pick
    Top Five Reasons J.D. Vance Is The Perfect VP Pick

    Authored by Steve Cortes via RealClearPolitics,

    Undeterred by even the sting of a would-be assassin’s bullet, Donald Trump charged strongly onward into Wisconsin for the Republican National Convention. This demonstration of determination and life force provides a stark contrast to the dithering and often incoherent meanderings of his opponent, Joe Biden.

    Trump further accentuated that show of vitality by selecting a running mate who is sure to help him win, serve as an invaluable second-in-command for the next four years, and then carry the banner of America first into the future after Trump completes his second term.

    As someone who has spent many hours with J.D. Vance and campaigned for him vigorously in his successful underdog Senate win, I can provide insight into the five best reasons that Vance was the pitch-perfect pick:

    1. His Backstory: Like Trump, Vance arrives in politics as an outsider. J.D. gained national recognition when he captured hearts and minds with his bestselling memoir, Hillbilly Elegy, and the Academy Award-winning movie adaptation. With searing eloquence, he describes the challenges facing working-class America, especially heartland communities decimated by economic decline and cultural decay.

    Vance shares his rare perspective as someone who rose from a troubled family and poor communities to an Ivy League law degree and professional success. For J.D., a devoted grandmother and the U.S. Marine Corps formed his path toward upward mobility – the keys to his Horatio Alger life story that will resonate with voters, especially blue-collar citizens in battleground states.

    2. America First Foreign Policy: As a veteran who was deployed with the Marines to a war zone, Vance speaks with personal authority and authenticity when he counters the schemes of the interventionist Washington foreign policy establishment. In fact, Vance has emerged as one of the most persuasive voices for a true Trumpian international approach of realism and restraint. Regarding trade policy with China or military assistance to Ukraine, Vance represents well the growing populism of Republican and independent voters who insist that we secure America’s own prosperity and our own border before prioritizing foreigners and faraway regional battles.

    These issues matter materially to voters. In fact, Trump’s 2016 victory was decisively propelled by key voter shifts in the areas of battleground states with the highest concentrations of injured veterans. Those patriots rallied to Trump’s peace agenda, and they will again.

    3. Media and Debate Skills: Vance won his Senate seat as an outsider political novice in a hotly contested primary against far better-financed opponents with significant political experience. This grueling come-from-behind win sharpened his media abilities enormously, and that trend has only accelerated since he joined the Senate. Unlike many Republican elected officials, Vance willingly and enthusiastically welcomes tough, confrontational interviews on hostile platforms, and handles those interrogations with aplomb.

    In addition, anyone rooting for Donald Trump to serve a second term should relish the prospect of a Vance vs. Kamala Harris debate, which might prove almost as much of a mismatch as Trump’s drubbing of mumbling Biden. Vance commands mastery of policy details, yet delivers that knowledge with clarity and likeability. As for the current vice president? Well, let’s just say she will not enjoy trying to match Vance’s intellect or authenticity. 

    4. The Correct Political Detractors: Vance acts as a magnet for particularly heated vitriol from the spokesmen and platforms of the American ruling class. Why? Because they see him as a former insider who turned on them. In other words, just like Donald Trump, Vance was once considered part of the “club” of elites, given his educational pedigree and experience in finance. Moreover, the huge success of his book and movie made him, briefly, the toast of the town in places like Silicon Valley and Hollywood. Like Trump, he could have continued on that path of lucrative deals and constant adulation from the supposed “important people.”

    Instead, to pursue better lives for Americans in circumstances he knew as a child and young man, Vance chose the more difficult path as a populist political thinker and officeholder. He knowingly passed on rewards and accolades for higher patriotic goals, which speaks to his true character as a man and as a candidate.

    5. Youth and Vigor: In a race where the cognitive state of the current president becomes a front-and-center theme of the campaign, the vitality and strength of Vance provide an important contrast. But even more importantly, beyond this election, Vance is perfectly positioned to be Trump’s effective partner and understudy for four years in the White House – and then to lead the America First movement well into the future after Trump’s term.

    Intraparty contests can be tough and bruising, whether primary fights or competitions for running-mate selection. Clearly, there were other super impressive candidates in the mix for this key position as vice-presidential nominee. The GOP bench is populated and healthy!

    But all Republicans should now march in lockstep behind this ticket and trust that our fearless nominee, Donald Trump, has made the best possible selection in J.D. Vance.

    Tyler Durden
    Tue, 07/16/2024 – 20:35

  • These Are The World's 10 Most Valuable 'Unicorns'
    These Are The World’s 10 Most Valuable ‘Unicorns’

    Unicorn companies are privately-owned, venture-backed startups worth at least $1 billion, and are therefore not publicly traded on normal stock markets.

    In this chart created by Trendline, Visual Capitalist’s Ryan Bellafontaine looks at the world’s highest-valued unicorn companies, based on data from CB Insights as of June 1, 2024.

    TikTok on Top

    The Chinese media and entertainment company ByteDance, which owns the social media platform TikTok, is the world’s most valuable unicorn company at $225 billion.

    However, as U.S. regulatory pressure grows for ByteDance to divest TikTok in the U.S., this leading valuation may be in doubt going forward.

    Source: CB Insights.

    Meanwhile, the largest unicorn company in the United States is SpaceX, led and founded by Elon Musk, valued at $150 billion. SpaceX is the only company on the list in the industrial category.

    OpenAI, founded in 2015, is the world’s highest-valued artificial intelligence pure-play company. Best known for its groundbreaking program ChatGPT, it is worth $80 billion.

    American Exceptionalism

    The United Kingdom, Australia, Singapore, and China appear only once in the top 10, while the United States takes six places.

    Australia’s only appearance is its graphic design company, Canva, which is worth $25 billion. Canva was founded in 2013 and is headquartered in Sydney.

    Revolut, a fintech company, is the United Kingdom’s highest-valued unicorn. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, it is valued at $33 billion.

    Finally, home to fast fashion company Shein, Singapore is the only Asian entry besides ByteDance in the top 10. That said, Shein is the world’s largest retail unicorn, valued at $66 billion.

    Tyler Durden
    Tue, 07/16/2024 – 20:10

  • Equal Versus Equitable
    Equal Versus Equitable

    Authored by Mark Ford via The Epoch Times (emphasis ours),

    You have two adult children. Alissa and Tony. They are twins. At the time of their birth, you had set up a trust account designated to go to them when they turned 30.

    They are 29 years old now—happily married, each with two children. As twins, they share many of the same traits. But there is a significant difference between them. Alissa is a neurosurgeon, making $400,000+ a year. And Tony is a violinist in a regional orchestra, making an eighth of that.

    Alissa has already developed a net worth of $1 million and will likely become a decamillionaire before she turns 40. Tony has a net worth of zero and zero prospects of ever making a lot of money. He isn’t complaining. Nor is he jealous of his sister. He’s comfortable with the life he chose. And his wife and children are happy and thriving.

    The trust account is worth $1 million. If you move forward as planned, Tony and Alissa will each be $500,000 richer on their next birthday. That will give Tony a net worth of $500,000 and Alissa a net worth of $1.5 million.

    That’s a good outcome for both of them. But is it fair?

    (Me dia/Shutterstock)

    Because of the advantages Alissa already has, one could argue that the right thing to do would be to give Tony the entire $1 million. That would leave them each with the same net worth: $1 million. They would be even.

    Is that what you would do?

    You know the answer. You would not. You would give them each $500,000. Giving Tony a million and Alissa nothing would achieve an equal outcome, i.e. they would both end up with an equal net worth. But it would be insanely unfair.

    It would be unfair to Alissa who worked her entire life to get into and through medical school. She would feel, justifiably, that she had earned the net worth she has. And it would send the wrong message to Tony: that he is entitled to have the same net worth as his sister, even though he chose a profession that is poorly paid.

    This little mental exercise is meant to illustrate an ethical and social argument that is raging in American culture today. And though it is unnoticed by many, it’s beneath and/or behind some of the most important issues affecting every U.S. family, almost every U.S. company, our military, our educational institutions, and even the entertainment industry.

    I’m talking about the distinction between equal and equitable.

    Two Similar Words That Have Come to Mean Two Very Different Things

    The first principle stated by the Declaration of Independence—as every citizen knows—is that “all men are created equal.” And when Thomas Jefferson penned those words in 1776, he was talking about equality in terms of the right to life, liberty, and the pursuit of happiness.

    Of course, he didn’t mean all men exactly. He wasn’t suggesting that slaves had those equal rights. And his usage of “men” in this case did not include women with respect to such things as voting and property.

    Some of these disparities were addressed in 1863 with the passage of the Emancipation Proclamation and in 1920 with the ratification of the 19th Amendment. And during the Civil Rights era, the term “equal rights” was used to include access by minorities to education, public facilities, and job opportunities.

    This tells us something we should keep in mind: The original, constitutional definition of equality has been expanded to include additional rights that our Founding Fathers never even thought of.

    Like equality, equitable derives from the Latin for “uniformity, impartiality, fairness.” And like equality, its meaning has evolved over the years.

    Here are two simple dictionary definitions:

    • Equality: The quality or state of being equal; having the same rights, social status, etc.
    • Equity: Fairness or justice in the way people are treated

    It’s easy to understand what equality means. But equitable is a slippery fish. Going back to the mental exercise above, giving Alissa and Tony $500,000 each would be, by definition, an equal action. But not necessarily an equitable one. And this difference, as I said, underpins arguments we are having today about just about every aspect of our lives.

    Affirmative action is one example.

    At one time, African Americans were not given equal opportunities for employment. The establishment of the Equal Employment Opportunity Commission (EEOC) in 1965 by President Lyndon Johnson helped, but the situation improved only marginally.

    To remedy that, some businesses and educational institutions introduced their own affirmative action policies. The argument was that factors other than raw intelligence and hard work were holding minorities back. To make it fair, it was necessary for them to make adjustments to standards for minorities. The idea was something like, “Just give them a leg up. They will get the rest of the way themselves.”

    I don’t have a problem with that thinking. I have promoted affirmative action efforts in my businesses and in my personal life. Giving help to people who want help seems like a sensible course of action in all areas of human interaction. (How well affirmative action works, however, is a subject for another essay.)

    But in recent years, the definition of equitable has expanded beyond “equal” or even “more-than-equal” opportunities and treatment. Today, when you hear equitable used in political or social debates it means equal outcomes.

    It’s not enough that everyone has an equal start. We must also guarantee an equal finish. And for those who espouse this line of thinking, that means equal outcomes in everything from childhood competitions, to test scores, to hiring and promotions, and wealth.

    That is a problem.

    The Only Measure of Achievement That Makes Sense

    If our objective is equal outcomes, we must disregard all the factors that determine success in the real world. Such as aptitude. And ambition. And hard work. And persistence. And intellectual and emotional intelligence. And we must admit that affirmative action—and all laws, regulations, and protocols that provide disadvantaged communities with extra help and second chances—is not enough because it does not result in equal earnings.

    Equal-outcome advocates are like parents who believe the fair thing is to give Tony the million and Alissa nothing, because they want their children to have equally happy and fulfilling lives. And for them, that means having an equal net worth.

    They don’t understand that giving each of them the same amount is giving them the same opportunity. Tony is every bit as smart and savvy as Alissa. He can invest and grow that money as well as she can. But they also know that Alissa has a big head start with her existing net worth and a much better financial future because of her income.

    They don’t want to face the reality that, unless something terrible happens to Alissa or Tony decides to give up music and get a job as, say, a plumber, Alissa and her family will continue to grow richer while Tony and his family may very well grow poorer.

    They can’t change those facts. But what they can do is make their children equal for a moment in time. That, and that alone, they can do. So, they will do it.

    What they refuse to see is all the damage it will do—to both children and to the relationship between them, a topic worth digging into, but that is for another day.

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Tue, 07/16/2024 – 19:45

  • Auto Insider Warns More Americans Fall Behind On Car Payments As Repos Soar 23%
    Auto Insider Warns More Americans Fall Behind On Car Payments As Repos Soar 23%

    The delayed day of reckoning has arrived for millions of Americans who purchased vehicles with absurdly high monthly payments they no longer can afford. New data shows auto repossessions surged in the first half of the year, driven by elevated inflation and high interest rates, resulting in increased consumer distress (read: here & here) as the labor market slows. 

    Before we delve into the data from Cox Automotive, let’s revisit several of our reports from mid-2022, showing how we have been diligently tracking the perfect storm brewing for auto repossessions:

    Two years later, the deterioration has accelerated. Cox data shows repos jumped 23% in the first six months of this year compared with the same period in 2023. Repos started moving higher last year and have now exceeded pre-Covid levels, up 14% compared to the first half of 2019. 

    “When you think about the costs for rent and shelter and insurance, all those things hit consumers and they have to choose what they will pay,” Jeremy Robb, senior director of economic and industry insights at Cox, told Bloomberg. 

    Robb warned, “More people are getting behind on payments because everything is more expensive.”

    Fitch Ratings data shows that the percentage of subprime auto borrowers who were at least 60 days late on their bill in June was around 5.62%, down from the record in February.

    Data from Bankrate indicates that the average interest rate for a new 60-month auto loan is now 7.94%, while for a used car, it’s around 12%. The average monthly payments have risen to $739 for new vehicles and $549 for used cars. 

    What’s clear is that consumers have used more debt than ever to fund near-record new car purchases. Fast-forward to today and the ominous new development is that high monthly payments in a period of elevated inflation and high interest rates have made these vehicles unaffordable for some. 

    We believe this surge in nominal auto debt and elevated interest rates will crush the subprime borrowers as more fall behind on their car payments—a trend that should only accelerate.

    Recently, Consumer Financial Protection Bureau officials have been concerned about troubling signs in the auto market, particularly among so-called subprime borrowers.

    Now, it’s a race against time for the Federal Reserve to provide relief to consumers. Traders are anticipating the first rate cut in September, driven by cooling inflation data. 

    Tyler Durden
    Tue, 07/16/2024 – 19:20

  • VDH: Assassination Porn & The Sickness On The Left
    VDH: Assassination Porn & The Sickness On The Left

    Authored by Victor Davis Hanson via X:

    If we were leftists and we were to use leftist tropes to editorialize the recent attempt on Trump’s life, then we would frame the assassination attempt in the following way:

    We have witnessed for years blatant exceptions to the once common custom that we don’t normalize the imagined killing of any president or presidential candidate and thus lower the bar of violence.

    But the Left constantly makes Trump an exception.

    Now, it as if the imagined killing of Trump had been mainstreamed and become acceptable in a way inconceivable of other presidents.

    (Do we remember the rodeo clown who merely wore an Obama mask during a bull riding contest and was punished by being permanently banned by the Missouri State Fair authorities?)

    So since at least 2016 there has been a parlor game among Leftist celebrities and entertainers joking (one hopes), dreaming, imagining, and just talking about the various and graphic ways they would like to assassinate or seriously injure Trump:

    By slugging his face (Robert De Niro),

    by decapitation (Kathy Griffin, Marilyn Manson),

    by stabbing (Shakespeare in the Park),

    by clubbing (Mickey Rourke),

    by shooting ( Snoop Dogg), by poisoning (Anthony Bourdain),

    by bounty killing (George Lopez),

    by carrion eating his corpse (Pearl Jam),

    by suffocating (Larry Whilmore),

    by blowing him up (Madonna, Moby),

    by throwing him over a cliff (Rosie O’Donnell),

    just by generic “killing” him (Johnny Depp, Big Sean),

    or by martyring him (Reid Hoffman: “Yeah, I wish I had made him an actual martyr.”).

    Or should we deplore the use of telescopic scope imagery, given that the Left blamed Sarah Palin for once using bullseye spots on an election map of opposition congressional districts, claiming that such usage had incited the mass shooting by Jared Lee Loughner?

    Yet, recently POTUS Joe Biden was a little bit more graphic and a lot more literal.

    In a widely reported call to hundreds of donors last week, Biden boasted, “I have one job, and that’s to beat Donald Trump. I’m absolutely certain I’m the best person to be able to do that. So, we’re done talking about the debate, it’s time to put Trump in a bullseye.”

    https://platform.twitter.com/widgets.js

    “In a bullseye?”

    At least, Biden did not go back to the full Biden beat-up porn of the past (e.g., “If we were in high school, I’d take him behind the gym and beat the hell out of him”/ “The press always asks me, ‘Don’t I wish I were debating him?’ No, I wish we were in high school – I could take him behind the gym. That’s what I wish.”).

    Then there is the question of the Secret Service and one’s political opponents. Given the tragic history of the Kennedys, why in the world did the Biden administration not insist that third-party candidate Robert Kennedy, Jr. be accorded Secret Service protection?

    Because his candidacy was felt to be disadvantageous to Biden?

    And why just this April would the former head of the January 6th Committee and 2004 election obstructionist Rep. Bennie Thompson (D-Miss.) introduce legislation ridiculously entitled, “Denying Infinite Security and Government Resources Allocated toward Convicted and Extremely Dishonorable (DISGRACED) Former Protectees Act” to strip away Secret Service protection for former President Trump and by this April current leading presidential candidate?

    Had Thompson’s bill passed, would that not have been confirmation for a potential shooter to feel his task was just made much easier?

    But in a wider sense, if the common referent day after day on the Left is that Trump is another Hitler (cf. a recent The New Republic cover where Trump is literally photoshopped as Hitler), then it seems reckless not to imagine an unhinged or young shootist believing that by taking out somewhat identical to one of the greatest mass murderers in history, he would be applauded for his violence?

    So is their logic, shoot Trump and save six million from the gas chambers?

    After all, The New Republic defiantly explained their Hitler-Trump cover photo this way, “Today, we at The New Republic think we can spend this election year in one of two ways. We can spend it debating whether Trump meets the nine or 17 points that define fascism. Or we can spend it saying, “He’s damn close enough, and we’d better fight.”

    Well, New Republic, recently someone took you up on your argument that Trump was “damn close enough” to Hitler and so he likewise chose to “fight”— albeit with a semi-automatic rifle.

    If ad nauseam, a Joy Reid is screaming about Trump as a Hitlerian dictator (“Then let me know who I got to vote for to keep Hitler out of the White House”) or Rachel Maddow is bloviating about studying Hitler to understand Trump, then finally the message sinks in that a mass murderer is about to take power – unless…

    Finally, the idea, if true, that bystanders spotted a 20-year-old on a nearby roof with a gun, a mere 130 yards from Trump, and in vain warned police of his presence, is surreal. Is it all that hard for the Secret Service to post a few agents on the tops of a few surrounding buildings closest to the dais, or at least coordinate with local law enforcement to do the same?

    That is a no brainer.

    Whoever made the decisions concerning the proper secret service security details for presidential events should be immediately fired.

    Tyler Durden
    Tue, 07/16/2024 – 19:11

  • Quinn: "They" Will Do Anything To Win
    Quinn: “They” Will Do Anything To Win

    Authored by Jim Quinn via The Burning Platform blog,

    “We’ll know our disinformation program is complete when everything the American public believes is false.”  – William J. Casey, CIA Director (1981)

    The always mysterious question when trying to figure out what is happening in this insane world and why it is happening is who are “they”? In the current chaotic atmosphere, “they” are in the process of throwing their senile child sniffing pedophile Trojan horse president overboard because his dementia ridden brain has been laid bare for all the world to see. It isn’t just the Democratic Party throwing him to the wolves.

    When you witness the party, supposedly loyal politicians, the regime media, surveillance state spooks, Hollywood celebrities, and globalist billionaires all simultaneously turn on the person they installed in 2020 through a rigged election, you realize the voting public have no say in how this country is run. Whether you refer to “they” as the Deep State, invisible government, ruling elite, globalist oligarchs, or shadowy men in smoke filled backrooms, we are just bit players in this surreal horror movie.

    It is no longer a conspiracy theory that we are ruled by unelected men using their wealth to pull the levers of society to benefit themselves and the apparatchiks who do their dirty work. At some level, this type of control has existed since the inception of our country. Andrew Jackson’s tirade in the 1830s revealed there were deceitful men operating in the shadows, with their greedy agendas prevailing over what was best for the people.

     “Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!”

    The capture of our government, media and financial system accelerated during the last century as described by Edward Bernays in his 1928 book – Propaganda. Of course, he wrote this fifteen years after the capture of our financial system, with the Creature from Jekyll Island – the Federal Reserve being created by a cabal of bankers and politicians intent on lining their pockets.

    “The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. …We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. …In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons… who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”– Edward Bernays – Propaganda (1928) pp. 9–10

    The traitorous president who signed the bill creating the Federal Reserve, in the same year he signed into existence the loathsome income tax, and later promised to keep the U.S. out of World War I, before taking us into that war, supposedly regretted handing over control of the government to a small cabal of dishonorable men. Politicians and Wall Street bankers have been using the debasement of our currency to enrich themselves at our expense, ever since.

    “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world — no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” – Woodrow Wilson – 1919

    For decades the Deep State was able to remain hidden, working in the shadows behind the scenes, with the general population oblivious to their existence. But their existence was outed when they assassinated John F. Kennedy in front of the entire world and took out their CIA patsy on national TV. The CIA, along with their media mouthpieces, created the term “conspiracy theorist” as a derogatory term to keep the public sedated and onboard with whatever narrative they were selling.

    The Church Committee in the mid-1970s further revealed the depth and breadth of the traitorous activities of the CIA and the surveillance state bureaucracy. Mike Lofgren defined the Deep State in his 2016 book, describing how the consent of the governed has been nothing more than a fantasy for many decades in this country.

    “I have come to call this shadow government the Deep State…a hybrid association of key elements of government and parts of top-level finance and industry that is effectively able to govern the United States with only limited reference to the consent of the governed as normally expressed through elections” ― Mike Lofgren, The Deep State: The Fall of the Constitution and the Rise of a Shadow Government

    Still, anyone questioning the officially approved narrative, as propagated by the bought off politicians; captured propaganda spewing regime media; paid-off “experts” in academia, finance, the military and the sciences; globalist organizations; and billionaires with fake foundations, was ridiculed and censored as nutjob conspiracy theorists.

    But, since Trump’s unlikely rise to power in 2016 and the subsequent traitorous acts by the Deep State and their lackeys in the government, media, and surveillance state bureaus, in attempting to destroy Trump through the fake Russiagate investigations, two impeachments based on nothing, creating a fake pandemic to rig the 2020 election, instigating a fake insurrection to keep him from running again, using the power of the DOJ to bring multiple fake charges against him, raiding his residence with orders to shoot if necessary, allowing millions of illegals to enter the country and encouraging them to vote illegally to throw the 2024 election, vilifying him as a threat worse than Hitler, and now being exposed using a patsy to try and assassinate him while his Secret Service detail pretended to protect him.

    There should be no doubt in anyone’s mind a Deep State/Invisible government is running the show, and we are all nothing more than spectators who are brainwashed into doing what we are told by those who “have our best interests at heart”. After they failed by one inch in blowing Trump’s head off (ala JFK), the narrative being spun is that we all must unite and tone down the vitriol. It is too late, and they know it. This is all for show.

    We are now at war with the Deep State, and anyone associated with their criminal deeds. Their need to retain power grows more desperate by the day. They have concluded they must win the upcoming election at all costs, or their unlawful acts over the last eight years will be revealed and retribution doled out to the perpetrators. Their failure in assassinating Trump, does not mean they will not try again.

    Their biggest hurdle is their ballot rigging operation only works in the swing states when the vote is reasonably close. The presidential debate and subsequent embarrassing press conferences have revealed Biden to be dementia ridden husk, who can’t even read a teleprompter at this point. Only the most brain-dead liberal kooks will vote for this walking dead candidate.

    After Trump’s triumphant post assassination attempt photo-op, with fist raised in victory, his odds of winning the election went through the roof. The potential replacement candidates for Biden are a motley crew of idiocy, failure and low IQ diversity options. When the Deep State was blindsided in 2016 with the Trump victory, they proceeded to derail his presidency by convincing him to hire their Deep State operatives into key roles, while keeping the Congress, DOJ, DOD, FBI, and CIA at war with everything Trump tried to accomplish. If he wins this time, he won’t make the same miscalculations again. And they know it.

    We have less than four months until the election. These being the waning years of this Fourth Turning, whatever happens from here on out will only be intensified. There will be no unity. There will be no compromise. Fourth Turnings do not wind down. They accelerate towards a bloody crescendo, with clear winners and losers. The potential for civil and global war rises on a daily basis.

    Most of the ignorant, I-gadget distracted, narrative believing masses, have no clue how close the world is to erupting in violent no-holds barred death and destruction. Virtually no one is alive who remembers the horrors of WWII. That is why Fourth Turnings re-occur every eighty years or so. We forget the past and are condemned to relive it. There are several scenarios that could play out.

    The Deep State may have provided Trump with a stark reminder about who really runs the show. Will he heed their warning? If so, they may let him win and then continue their control behind the scenes, letting him know they can take him out at a time of their choosing. Trump’s cooperation in this scenario is possible, but after the last eight years of unbridled attacks on him, this may be unlikely.

    They could try another assassination attempt, but the world is now aware of their hatred for Trump, and would likely react negatively towards all parties involved in the murder of the past and future president of the U.S. The question is how desperate are these godless authoritarians? How many innocent people are they willing to sacrifice at the altar of mammon and power, to continue their stranglehold on the political, financial, social, and economic structures of the U.S. and western world.

    Knowing they will do anything to win and remain in control of the levers of our society, what may seem unthinkable to you and me, wouldn’t make these sociopaths pause for a second. They’ve already killed tens of millions with their fake pandemic and their toxic antidote gene therapy. All done to rig an election, enrich themselves, and cull the herd. We already know the neo-con branch of the Deep State has been saber rattling towards both Russia and China.

    We also know false flags are one of their favorite tools to initiate conflict and fill their coffers with blood money. Our blood and their money. We’ve already seen a possible scenario with their puppet Zelensky in the Ukraine. If you can create a national emergency through either a civil or foreign war, you can cancel the election until the emergency is over.

    A successful assassination of Trump this past weekend would have initiated some form of chaos in the streets, with the political powder keg poised to be lit by one side or the other. The Deep State is certainly capable of creating a false flag that kills hundreds or thousands of innocents, blaming white nationalist Trumpers for the tragedy. Another George Floyd incident could be cooked up, with Soros unleashing his Antifa and BLM terrorist hordes on cities across the land.

    The normal citizens supporting Trump will only be pushed so far, and if they begin to fight back, all hell could break loose. This is what the Deep State wants. Chaos and violence in the streets would be their excuse to “delay” the elections. That would even cause more violence and upheaval. The Deep State thrives on violence, chaos, war, and a fearful populace, begging to be saved.

    The Deep State is conducting the war against Russia. The Ukrainian soldiers are being chewed up by the Russian army, but the high-tech aspects of the war are being carried out by Americans, who are the only ones capable of operating the drones and advanced missiles being used against Russia. They know Putin’s red lines. If they choose to start World War III, they will initiate an attack guaranteed to force Putin into a drastic response, attempting to ignite a conflagration across Europe, into the Middle East.

    With the US/EU sanction war having pushed Russia, China and the rest of the BRIC countries closer together, China and possibly India would side with Russia in a global conflict. The use of nuclear arms becomes more and more likely as the warring countries become more desperate and pushed into a corner.

    The Deep State has no qualms about killing millions to attain their goals and retain their wealth, power and control over the masses. I do believe the next four months will mark a turning point in the history of the world. I fear there will be much bloodshed, but will continue to try and decipher the path of this Fourth Turning and guide my family and anyone choosing to listen towards the light and away from the darkness. I do believe Strauss & Howe’s possible outcomes for this Fourth Turning are an accurate portrayal of what awaits us within the next decade. 

    1.  This Fourth Turning could mark the end of man. It could be an omnicidal Armageddon, destroying everything, leaving nothing. If mankind ever extinguishes itself, this will probably happen when its dominant civilization triggers a Fourth Turning that ends horribly. For this Fourth Turning to put an end to all this would require an extremely unlikely blend of social disaster, human malevolence, technological perfection and bad luck.

    2. The Fourth Turning could mark the end of modernity. The Western saecular rythm – which began in the mid-fifteenth century with the Renaissance – could come to an abrupt terminus. The seventh modern saeculum would be the last. This too could come from total war, terrible but not final. There could be a complete collapse of science, culture, politics, and society. Such a dire result would probably happen only when a dominant nation (like today’s America) lets a Fourth Turning ekpyrosis engulf the planet. But this outcome is well within the reach of foreseeable technology and malevolence.

    3. The Fourth Turning could spare modernity but mark the end of our nation. It could close the book on the political constitution, popular culture, and moral standing that the word America has come to signify. The nation has endured for three saecula; Rome lasted twelve, the Soviet Union only one. Fourth Turnings are critical thresholds for national survival. Each of the last three American Crises produced moments of extreme danger: In the Revolution, the very birth of the republic hung by a thread in more than one battle. In the Civil War, the union barely survived a four-year slaughter that in its own time was regarded as the most lethal war in history. In World War II, the nation destroyed an enemy of democracy that for a time was winning; had the enemy won, America might have itself been destroyed. In all likelihood, the next Crisis will present the nation with a threat and a consequence on a similar scale.

    4. Or the Fourth Turning could simply mark the end of the Millennial Saeculum. Mankind, modernity, and America would all persevere. Afterward, there would be a new mood, a new High, and a new saeculum. America would be reborn. But, reborn, it would not be the same.

    The odds are stacked against us, but if we give up the fight, we will surely lose. Our choices and actions in the coming days will surely matter. We must fight, fight, fight!! Godspeed and good luck.

    Tyler Durden
    Tue, 07/16/2024 – 19:00

  • Hedge Funds Boost Bearish Bets On Corn To Record
    Hedge Funds Boost Bearish Bets On Corn To Record

    Hedge fund managers have ramped up their bearish bets on US corn futures to record levels, driven by elevated grain supplies and the best early crop ratings in years. These factors have pressured corn prices lower.

    Bloomberg data reveals that money managers have boosted their short-only positions in Chicago corn futures and options to 507,901 contracts, exceeding the previous record of 506,000 contracts in 2019. The net position, which accounts for the difference in long and short holdings, was bearish by 353,983 contracts, the largest since 2006.  

    Last month, Reuters reported that an above-average volume of corn remains unsold, and if these grain inventories are not depleted, then supplies could reach six-year highs by late summer 2025.

    “Farmers risk waiting too long to sell as a flood of newly harvested grain is likely to drag down prices this October and November. Buyers, aware the harvest is coming, still need enough supplies to keep processing plants running and exports flowing this summer,” Reuters said. 

    Elevated supplies have pressured prices in Chicago to under the $4 a bushel level, the lowest level since early 2020.

    Bloomberg noted last week that US farmers are now holding the largest stockpiles of corn since 1988:

    “The US farmers, who are the world’s largest corn producers, have been holding off selling early in the season as prices of the key grain slide toward $4 a bushel for the first time since 2020.” 

    The USDA’s latest monthly World Agricultural Supply and Demand Estimates report revealed that demand for corn moved slightly higher. The report, released last Friday, has so far put a floor under prices. 

    The USDA’s WASDE report was “enough to halt, at least temporarily, the bear market in corn prices,” Sal Gilbertie, chief investment officer at Teucrium Trading, told MarketWatch. 

    “It looks like short sellers began to actively cover their positions upon the release of today’s WASDE, which occurs just as corn in the US begins to enter the critical pollination stage of development,” Gilbertie added.

    Meanwhile, Bloomberg’s Mike McGlone noted grain deflation while broader commodity markets remained positively diverged: 

    “Volatility in the grains (corn, soybeans and wheat) is higher than broad commodities: It’s the most elastic sector and prices are accelerating downward, with deflationary macroeconomic implications. Russia’s invasion of Ukraine was a good test of the propensity for commodities to go down, because they went up and the trajectory at the start of 2H may prove autocorrelation forces are more powerful than ever. Our graphic shows the tendency for the Bloomberg Grains Spot Index to lead broad commodities and potential for the Bloomberg Commodity Spot Index to drop about another 30%, to simply catch up to the grains.” 

    While falling grain prices may signal lower food costs for consumers, the combination of sliding prices and high production costs spells trouble for farmers’ incomes.

    Tyler Durden
    Tue, 07/16/2024 – 18:40

  • Ron Paul: Why We'll Never Know What Really Happened In Butler, PA
    Ron Paul: Why We’ll Never Know What Really Happened In Butler, PA

    Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

    Just days after the attempted assassination of former President Donald Trump, theories are flying from all directions. Many who ridiculed the “conspiracy theories” of conservatives are now suggesting the whole event was a set-up to boost Trump in the polls ahead of the election. Others suggest it was the “deep state” or even foreign actors who organized it.

    Former US Navy Seal and founder of Blackwater, Erik Prince, claims that “The fact that [the Secret Service] allowed a rifle armed shooter within 150 yds to a preplanned event is either malice or massive incompetence.” He went on to observe that, “unaccountable bloated bureaucracies continue to fail us as Americans,” adding that “unserious and unworthy people in positions of authority got us to this near disaster. Merit and execution must be the only deciding factors in hiring and leadership, not the social engineering priority of the day.”

    Video has emerged showing that for at least two minutes law enforcement knew someone with a gun was on a roof aiming at the former President and no one communicated the need to pull Trump from the stage. You can clearly hear the crowd warning law enforcement that someone was on the roof. Yet he was unhindered until the first shots rang out.

    Considering this fact, Erik Prince has a point.

    If this is like any previous governmental foul-ups, we can expect hearings, investigations, and commissions that will actually serve to hide the official errors or even malicious intent by some in the government.

    That’s what government does no matter who is in office: protect itself from actual scrutiny and resist being exposed as incompetent or worse.

    But what if there was a genuine investigation that actually revealed the truth about what happened at the Trump rally over the weekend?

    Could we rely on the mainstream media to even report it?

    This is the same media that, after Trump was clearly shot on live television, reported “Trump escorted away after loud noises at PA rally.” (Washington Post). And “Secret Service rushes Trump offstage after he falls at rally.” (CNN).

    This is the same mainstream media that has been comparing Donald Trump to Hitler for years, and now pretends to be shocked that their vile rhetoric ended up in violence.

    There is a good reason why the mainstream media is regarded by the American public with record levels of contempt.

    The current Director of the Secret Service has been interviewed expressing her dedication to “diversity” in hiring agents.

    What if her dedication to DEI goals led to an agency that is more “diverse” but fails at its core mission? Can we rely on the media to inform us of this? Or will they, as usual, just blame it all on the Second Amendment?

    What if the problem with the Secret Service is that it was moved into the bloated, incompetent, and menacing Department  of Homeland Security, the creation of which I strongly opposed when I was in Congress?

    We shouldn’t count on hearing the truth about the attempted assassination from the mainstream media.

    No wonder the elites remain determined to censor social media sites like Twitter/X and TikTok.

    We live in an empire of lies, propped up by the mainstream media. And seeking the truth in this empire of lies is the greatest challenge for us in the moral bankruptcy in which we live.

    Tyler Durden
    Tue, 07/16/2024 – 18:20

  • Visualizing The G7's Declining Share Of Global GDP
    Visualizing The G7’s Declining Share Of Global GDP

    Formed in 1975, the G7 is a group of seven advanced economies (U.S., Canada, UK, Germany, France, Italy, Japan) that cooperates on economic policy and promotes global stability. At the time of the group’s inception, these countries were leading nations in the post-World War II economic order, and shared similar political and economic systems.

    While much of this is still true today, the G7’s collective economic influence has fallen significantly as emerging nations in other parts of the world have grown.

    To learn more about this trend, Visual Capitalist’s Marcus Lu visualized the G7’s share of global GDP beside the G20’s, from 1990 to 2022. Numbers come from the World Bank, accessed via the Council on Foreign Relations.

    Data and Key Takeaway

    The G20 is an expanded group that was established with the goal of bringing together advanced and emerging economies to promote international cooperation. Major economies that are in the G20, but not in the G7, include China, India, Brazil, and Saudi Arabia.

    The data we used to create this graphic can be found in the table below.

    Year G7 share of GDP (%) G20 share of GDP (%)
    1990 66 80
    1991 66 81
    1992 67 81
    1993 67 82
    1994 67 82
    1995 66 81
    1996 65 80
    1997 64 81
    1998 65 80
    1999 66 81
    2000 65 81
    2001 65 81
    2002 65 80
    2003 64 80
    2004 62 79
    2005 60 78
    2006 58 78
    2007 55 77
    2008 52 76
    2009 53 76
    2010 50 77
    2011 48 77
    2012 47 77
    2013 46 77
    2014 46 77
    2015 46 78
    2016 47 78
    2017 46 78
    2018 45 78
    2019 45 78
    2020 46 78
    2021 44 78
    2022 44 78

    From this dataset we can see that the G7’s share of global GDP has shrunk from 67% in 1994, to 44% in 2022.

    Over this same time period, the G20’s share of global GDP has remained relatively steady near 80%. In short, this means that emerging markets are accounting for a relatively greater share of the world’s economy.

    What Does This Mean for the G7?

    Here are some possible consequences of the G7’s declining share of global GDP:

    • Reduced Global Influence: Diminished ability to shape global economic policies and standards.

    • Changes in Trade Dynamics: Potential shifts in trade relationships and alliances as other countries gain economic prominence.

    • Altered Investment Flows: Redirection of global investment towards faster-growing economies outside the G7.

    If you enjoyed this post, check out this infographic that visualizes the top six countries share of global GDP over time.

    Tyler Durden
    Tue, 07/16/2024 – 18:00

  • Texas AG Appeals Ruling On Nonprofit Accused Of Facilitating Illegal Immigration
    Texas AG Appeals Ruling On Nonprofit Accused Of Facilitating Illegal Immigration

    Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

    Texas Attorney General Ken Paxton on Monday filed an appeal after a judge dismissed his lawsuit to shut down the nonprofit organization Annunciation House for allegedly facilitating illegal immigration.

    Texas Attorney General Ken Paxton speaks at CPAC at the Hilton Anatole in Dallas, Texas, on July 11, 2021. (Brandon Bell/Getty Images)

    District Court Judge Francisco Dominguez blocked the lawsuit in March, saying that Mr. Paxton “acted without regard to due process and fair play” in trying to revoke the registration of the nonprofit organization.

    The judge ruled Mr. Paxton’s agency must use the state court system if it wants to investigate the Catholic nonprofit, which has been operating in El Paso, Texas, since the 1970s, offering shelter and other services to illegal immigrants.

    Mr. Paxton said Monday he filed an appeal to the Texas Supreme Court against the judge’s decision.

    “For too long, Annunciation House has flouted the law and contributed to the worsening illegal immigration crisis at Texas’s border with Mexico,” the Republican attorney general said in a statement.

    He said the Office of the Attorney General has been investigating nonprofit organizations in Texas for their involvement in facilitating illegal immigration following Texas Gov. Greg Abbott’s request.

    The investigation found Annunciation House was “openly operating in violation of the law without any pretense of trying to comply with the law,” Mr. Paxton’s office said. “According to Annunciation House’s in-court admissions, its employees enter Mexico to retrieve aliens, including aliens who have been denied entry by Border Patrol, to bring them into the United States.”

    The Epoch Times has reached out to Annunciation House for comment but has not heard back as of publication time.

    Annunciation House describes itself on its website as “a volunteer organization that offers hospitality to migrants, immigrants, and refugees in El Paso,” which is “rooted in Catholic social teaching.”

    The Office of the Attorney General issued a Feb. 7 “request to examine” the nonprofit’s records, including documents detailing what services it provides to immigrants who are in the country legally or illegally.

    According to Mr. Paxton, Annunciation House refused to turn over documents and sued his office soon after, seeking to halt his efforts to obtain their records. On Feb. 20, Mr. Paxton announced he was asserting a counterclaim, seeking to shut down Annunciation House’s operations within the state entirely.

    In his legal filings, Mr. Paxton states his initial request to inspect Annunciation House’s records “was not made in a vacuum.” Rather, he alleged state investigators had been monitoring the “unusually covert way” Annunciation House operates.

    Annunciation House’s Previous Response

    Annunciation House said on Feb. 23 that Mr. Paxton’s attempt to shut down the organization was “unfounded” and said that it was asking the court to decide which documents the Attorney General is allowed to access.

    “There is nothing illegal about asking a Court to decide a person’s rights. The AG has now made explicit that its real goal is not records but to shut down the organization,” it said in a statement.

    The organization said it has provided hospitality to “hundreds of thousands of refugees for over 46 years” and that its work was listed in the National Catholic Directory.

    “Annunciation House’s work is central to the City of El Paso. El Paso has made it a point of pride to provide humane support for people coming through our community in need,” the organization stated.

    “The work helps serve our local businesses, our City, and immigration officials to keep people off the streets and give them a shelter while they come through our community,” it added.

    Jane J. Pruet and Ryan Morgan contributed to this report.

    Tyler Durden
    Tue, 07/16/2024 – 17:40

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Jul 16

Today’s News 16th July 2024

  • As NATO Bids Farewell To Reality, Moscow And Beijing Pursue Win-Win Deals With Türkiye
    As NATO Bids Farewell To Reality, Moscow And Beijing Pursue Win-Win Deals With Türkiye

    Authored by Conor Gallagher via NakedCapitalism.com,

    In back-to-back weeks Turkish President Recep Tayyip Erdoğan attended first the Shanghai Cooperation Organization gathering in Astana and then the NATO summit in Washington DC. The contrast was stark.

    Erdoğan made clear Türkiye’s opposition to escalation with Russia and US support for Israel, while Washington tried its usual small-carrot-big-stick approach. Far more interesting was what was happening with Türkiye, Russia, and China at the Shanghai Cooperation Organization gathering the week before the NATO summit.

    But first, the problems with the world’s “most successful military alliance.” Türkiye is opposed to further escalation of Washington’s conflict with Russia. Public opinion at home is overwhelmingly against Israel and the US (during the NATO summit Erdogan said the US is “complicit” in Israeli war crimes). The US continues to support Türkiye’s Kurdish enemies in Syria while there are  increasing problems with Syrian refugees in Türkiye. NATO generally seems hellbent on starting even more conflicts, such as with China which is in no one’s interest, but only Türkiye, Hungary, and Slovakia are apparently willing to say so.

    Meanwhile, Ankara is facing fresh sanctions threats from the US where the House of Representatives is pushing forward with legislation that would require the Biden administration to sanction Russian nuclear energy company Rosatom and “its affiliates and subsidiaries…[and] authorize secondary sanctions on any foreign person engaged in significant transactions with Rosatom.”

    This would have major implications for Türkiye’s first and only nuclear power plant, which was inaugurated last year with the delivery of the first nuclear fuel to the plant site – a major occasion in Türkiye as it marked the country joining the ranks of nuclear power nations. Rosatom financed and is building the plant that would provide roughly 10 percent of Türkiye’s energy needs once completed, but has recently faced delays due to difficulties obtaining equipment from third countries because of US sanctions. [1]

    At the same time that the US is trying to muscle out Rosatom 14 years after it signed a deal with Ankara and after nine years of work on the project, it is is trying to pressure Türkiye into deals with American companies to build reactors in the country despite a whole host of issues with US designs, safety, cost, and the overarching geopolitical strategy since they would likely still rely on Russia (or possibly China) for key parts of the nuclear fuel supply chain.

    Despite the threat of sanctions, Türkiye remains in talks with Russia for a second nuclear power plant, as well as with China’s for a third plant.

    That is representative of the overall trend of Türkiye’s relations with the US on one side and Russia and China on the other. Slowly but surely Türkiye is being drawn further East, and while US sanctions might erect some speed bumps, they are not stopping the process. Barring a government coming to power in Ankara that takes its orders from Washington, which at this point would require a coup given the Turkish public’s increasing opposition to the US and the EU. Despite the rising resentment of the West in Turkiye, the sanctions weapon is unlikely to be sheathed, and there will be even more calls from US lawmakers for more pressure to force Ankara to “abide by international law,” [2]

    Türkiye and the Shanghai Cooperation Organization

    While the NATO nobility spent last week talking about starting wars they can’t win and controlling events they can’t control,  Erdoğan enjoyed a warm reception at the Shanghai Cooperation Organization (SCO) summit in Astana two weeks ago. He met with both Russian President Vladimir Putin and Chinese President Xi Jinping, and both pledged to continue strengthening ties with Türkiye.

    Founded in Shanghai in 2001, the SCO has always emphasized the importance of  combating terrorism and radicalism, especially in Central Asia. The recent summit, however, was seen as an expansion of the SCO’s ambitions to become the security provider to the Eurasian continent. Belarus joined the SCO at the summit, which also counts Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan, Uzbekistan, India, Pakistan, and Iran as members. Afghanistan and Mongolia are observer states, and  there are 14 dialogue partners.

    This is an organization that now represents roughly 42 percent of the world population and 80 percent of the Eurasian landmass. Most importantly, these countries constitute about one-third of world GDP and roughly $6 trillion more than the EU.

    One only needs to look at a map to see how this bloc is becoming the center of the world in more than ways than one with Europe left out on the periphery – a decision of its own making.

    What the SCO wants to guard against above all else is efforts by the West to use terrorism or any other division strategies to thwart the growing power of its member states. The US has tried to use central Asian nations in this way in recent years to no avail as investment by China and Russia in these countries absolutely dwarfs what the West has on offer.

    The importance of security in Eurasia helps explain Türkiye’s attractiveness to the SCO and BRICS, which is increasingly the economic partner organization to the former. It’s not just that Türkiye is the world’s 18th most populous country with a GDP per capita at purchasing power parity that places it 47th. It’s not just that it has a customs union agreement with the EU that currently makes it an attractive point to get around tariffs or sanctions.

    It’s also that Türkiye would be a key piece to security architecture of the SCO. Here’s Erdoğan stressing this point following a meeting with Xi:

    “The organization has become one of our important dialogue channels with Asia owing to our dialogue partner status, which we’ve held since 2013,” he said. “Our many years of experience fighting terrorism show that international cooperation is essential to dealing with this threat. In this context, we are ready to further strengthen our dialogue with the Shanghai Cooperation Organization.”

    Erdoğan, once an outspoken critic of Beijing due to its alleged treatment of Uyghurs, a Muslim minority of Turkic origin in western China, has almost completely dropped his criticism in recent years.

    Turkish Foreign Minister Hakan Fidan was in China in June talking up the possibility of Türkiye joining BRICS, but most importantly, he made some major statements regarding Xinjiang. According to a Chinese statement, Fidan told Chinese Vice President Han Zheng that Türkiye adhered to the one-China principle and “will not allow activities in Türkiye that undermine China’s territorial integrity”. China attaches immense significance to the issue and would likely be the number one topic in any discussions with Türkiye about further integration with BRICS or the SCO.

    That cements a major shift for Türkiye, which used to call Xinjiang “East Turkistan,” accuse China of “genocide” against Uyghurs (a claim the rest of the West still makes), and allegedly play a role in training Xinjiang militants. The change in Türkiye’s stance likely causes consternation in Washington, but is a clear sign of the shift underway for a country that is no stranger to supporting jihadists to further its and Washington’s goals in West Asia.

    Inching Closer to Türkiye-Syria Reconciliation (and a Major Blow to US Occupation of Syria)?

    One of the biggest items on the SCO agenda involving Türkiye is resolving the Syria issue and getting the Americans out – a goal for which Türkiye would need to play a central role.

    We can see those pieces starting to come together with Syria now.

    On his trip back from the NATO summit, Erdoğan announced that Türkiye and Syria will determine a roadmap to revive long-frozen relations between the two neighbors and will take steps accordingly. FM Fidan is being tasked with restoring ties and setting up a meeting between Erdoğan and Assad.

    Erdoğan showed renewed motivation to mend fences with Damascus following his meetings in Astana. Whatever he saw or didn’t see in Washington apparently provided even more motivation to  restore ties with Syria – a relationship that was destroyed by Türkiye, in cahoots with the West, playing a major destabilizing role by funneling fighters to Syria and funding them. There has been noise about a Ankara-Damascus reconciliation for some time, but due to the steady encouragement from Moscow, it would appear to be getting closer. There would be benefits for both Türkiye and Syria of burying the hatchette, but the biggest impact viewed through a wider lens would be to make the US position in Syria more untenable.

    And going forward, a Türkiye that is a member of the SCO and more in lockstep with Moscow and Beijing, would further the SCO mission to keep destabilizing forces at bay in Eurasia.

    What other factors are pushing Türkiye towards the East?

    Western Hubris

    The EU may look back at some point in a decade or two and rue the decision to snub Türkiye, but Türkiye has long been expected to go along with the wishes of NATO and the EU despite often being treated like a second-class citizen. The failure of Türkiye’s EU accession is just one of many examples.

    As mentioned above, the US threatening to torpedo the nuclear power plant in Türkiye is representative of another. The US sanctions Turkish individuals and companies for “aiding Russia,” for “aiding Iran,” and the US is already threatening to slap on more sanctions over Turkish firms’ exports to Russia. A quick search on the US Treasury’s Office of Foreign Assets Control site turns up a whopping 232 sanctioned Turkish individuals or entities.  This is not a great look when Türkiye is going through its worst economic crisis in two decades.

    There have also been, from the Turkish point of view, a lack of consideration of Turkish defense needs. In the 1990s, Ankara asked NATO multiple times to deploy early warning systems and Patriot missiles to Türkiye, but it never came to pass. In 2017 Russia sold Türkiye its S-400 missile defense systems, which are arguably superior to anything the West has. In response the US expelled Türkiye from its F-35 program and sanctioned the country’s defense industry organization and its leaders.

    While the US keeps slapping more sanctions on Turkish entities, the economic relationship between Türkiye and SCO countries is growing exponentially.

    The Economy – Sanctions or Investment?

    Ahead of the SCO summit, the Turkish broadcaster TRT World highlighted the fact that Turkish exports to SCO countries increased by 85% in last 5 years:

    Turkish exports to Shanghai Cooperation Organisation (SCO) member countries have skyrocketed 85 percent over the last five years from a value of $14.1 billion in 2019 to nearly $26.1 billion in 2023. The share of these countries in Türkiye’s overall exports last year was 10 percent.

    Türkiye’s imports from SCO member countries also reached $106.3 billion last year, around double the $55.6 billion total in 2019.

    Still, the EU is by far Türkiye’s top trading partner, accounting for almost one third of its trade while Türkiye is the EU’s seventh trading partner, making for 3.6 percent of total EU trade.

    But Türkiye’s weak economy has the government seeking foreign investment. Enter China with its vast financial resources, which looks ready to provide an influx of capital for the price of cooperation on China and SCO goals.

    Both Erdoğan at the SCO summit and FM Fidan in his recent trip to China were asking for more investment from Beijing in Türkiye. It looks like that is already coming through. Chinese automotive company BYD just announced that it will construct a $1 billion plant in western Türkiye. From the South China Morning Post:

    The new factory would improve BYD’s access to the European Union, because Türkiye has a customs-union agreement with the bloc. The EU moved ahead this week with plans to impose provisional tariffs on electric vehicles imported from China, hitting BYD with an additional 17.4 per cent charge on top of the existing 10 per cent rate.

    There’s also a domestic market to serve, with EVs accounting for 7.5 per cent of car sales last year in Türkiye, a country with a population of almost 90 million.

    Türkiye announced Friday that it was walking back plans announced almost a month ago to impose an additional 40 per cent tariff on all vehicles from China, citing efforts to encourage investment. That decision followed talks between Erdoğan and China’s President Xi Jinping on Thursday during a meeting of the Shanghai Cooperation Organisation in Astana, Kazakhstan.

    There is a belief that this BYD plant will open the floodgates to more Chinese investment turning Türkiye into a “production hub” with a heavy focus at least for now on tariff-free exports to European countries thanks to Ankara’s customs union agreement with Brussels.

    As the economic balance of power cements its shift to Asia while Europe suffers through a partially self-inflicted decline, then Türkiye’s long-term importance is less clear. How valuable is Türkiye’s customs agreement with the EU going to be in 10 years?

    But Türkiye could still be an important market on its own and security policy could be more important than a backdoor into the declining EU market. Russia, for example, would like to ensure going forward that Türkiye will not open the Turkish Straits to NATO warships thereby allowing them access to the Black Sea, and neither Beijing or Moscow want to see Ankara helping to destabilize central Asia.

    Notably, China is also considering defense production cooperation with Türkiye, which would be a major step. Even as China’s foreign direct investment (FDI) rises in Türkiye, it still has a ways to go to match Europe. In 2022 Chinese FDI in Türkiye stood at $1.7 billion, but the EU-27 countries still contribute 59 percent of Türkiye’s FDI inflows. As for Russia, it supplies Türkiye with nearly half of its natural gas and a quarter of its oil. The two nations also cooperate on nuclear energy with Russia financing and building the aforementioned Akkuyu Nuclear Power Plant, and in talks to construct another.

    Public Opinion

    Türkiye’s pursuit of BRICS membership would mark a fundamental shift in the country, which has been positioning itself to become part of “the West” for decades, but in many ways the public in Türkiye has already turned its back on the EU and the US and looks more favorably to the East:

    A poll conducted in December 2022 by the Turkish company Gezici found that 72.8% of Turkish citizens polled were in favor of good relations with Russia. By comparison, nearly 90% perceive the United States as a hostile country. It also revealed that 24.2% of citizens believe that Russia is hostile, while 62.6% believe that Russia is a friendly country. Similarly, more than 60% of respondents said that Russia contributes positively to the Turkish economy.

    More recent polling for NATO’s 75-year anniversary by Pew Research Center don’t show such a dire picture, but Turks still have the second lowest approval rating of the alliance among members:

    For Now, The Middle

    Erdoğan talked about being part of both East and West in an interview with Newsweek. He’s effectively distancing himself from the lunatics at NATO while declaring neutrality in its conflicts. That’s playing to Türkiye’s advantage right now, but might not be all that valuable to be the bridge between Europe and Asia due to Europe’s long term economic prospects. It also becomes dangerous. There’s no way that NATO, for example, would tolerate Türkiye being a member in the SCO, and it will likely continue to try to wield stick measures in response to Ankara’s increasing cooperation with Moscow and Beijing. Türkiye has no reason to choose a side, as the commentary often goes, but it would not be uncharacteristic of the West’s with-us-or-against-us policies to try to force it to do so. That’s where the risk exists of being pulled apart by trying to straddle both sides as there is still a sizable bloc in the country that favors an exclusively western-oreiented policy.

    It’s interesting to note that new legislation in Türkiye is attempting to crack down on “foreign interests.” According to Turkish Minute, that would apply to “anyone who carries out or orders research on (Turkish) citizens and institutions with the aim of acting against the security or the political, internal or external interests of the state, on the orders or in the strategic interests of a foreign organization or state.” Those convicted would face three to seven years in prison. These types of laws are increasingly being considered by states that say they fear Western meddling in their country, oftentimes with the aim of instigating color revolutions.

    Should NATO and Turkiye suffer some sort of break, it will likely be the result of NATO’s flight from reality – not Turkiye. If the past is any guide, Türkiye has good odds to successfully navigate the transition to a more multipolar world with the Eurasian core at its center.

    I’ve made the comparison before, but I think it bears repeating: In 1941, Türkiye and Germany signed a nonaggression pact, and Ankara raked in economic and military aid from both Axis and Allies trying to woo Türkiye to their side. As the tide changed in WWII, however, Türkiye wisely bet on the eventual victors, moving increasingly to the Allied side. In 1944 Türkiye stopped exporting chromite to Germany, a key ingredient in the manufacture of stainless steel, and later that year severed diplomatic relations with Germany. In 1945 Türkiye declared war on Germany – two months before its defeat.

    Tyler Durden
    Tue, 07/16/2024 – 02:00

  • Is America Ready For A Return To Greatness?
    Is America Ready For A Return To Greatness?

    Authored by Richard Truesdell via American Greatness,

    In the aftermath of yesterday’s assassination attempt, I find myself asking: Why all the visceral hatred of Donald Trump? It manifests itself everywhere but is most visible among Hollywood elites and members of the Fourth Estate (the press and most of the mainstream media) and especially on social media.

    What did this man with the orange hairdo do to these people?

    First, I want to say that I am not a raving MAGA Trump supporter, not that there is anything wrong with being one. Some of my best friends are MAGA proponents. Despite what some of my friends and professional colleagues think, I’m pretty centrist in my political philosophies: conservative on some issues (staying out of needless foreign wars, putting reasonable limits on abortion), liberal on others (maintaining individual rights, being a staunch supporter of the First Amendment). I’m pretty much a “live and let live” kind of guy.

    I think that as a nation, that’s where most Americans lie, from slightly left of center to somewhat right of center. Most of us lack a sense of ideological purity.

    But I think Trump’s victory in 2016 was a reaction – to years of often invisible far-left control of the institutional levers of power – rather than any sort of revolution, January 6th notwithstanding. Trump was the vessel through which many centrist Americans vented their long-simmering frustrations.

    But I digress…

    Getting back to Trump, I believe his real troubles began in 2016 when this political upstart—who had previously been a liberal-leaning New York City real estate developer and popular reality TV host—defeated the anointed one, Hillary Clinton, the candidate destiny had chosen to be the first female president (funny how it seems that title has unofficially fallen to “Dr.” Jill Biden).

    That triggered a reaction that has been unprecedented in our almost 250 years as a nation. It was best manifested in the fake news, a pre-printed Newsweek special edition proclaiming Clinton as Madam President. 125,000 copies were printed and had to be recalled. (It should be noted that there was no pre-printed President Trump special edition; it was rushed into print after the election because Clinton’s election was a foregone conclusion up until about 11 p.m. on Election Night.) Why waste ink and paper when it was going to be Clinton’s hand on the Bible on January 20, 2017?

    From the minute that Donald and Melania came down the escalator, Democrats and the far-left tried to destroy Trump. It started with the Clinton- and DNC-funded Steele Dossier that was at the heart of the three-year-long RussiaGate scandal that was repudiated by the embarrassing Mueller Report. It continued right after the election when Deep State activists illegally surveilled Trump appointees, especially Michael Flynn, who was forced to resign as Trump’s National Security Advisor, hobbling the Trump administration during the transition period and beyond until Trump left office in 2021.

    Working in conjunction with its handmaidens in the media, it was non-stop Orange-man-bad throughout Trump’s administration that accelerated after Republican losses in the 2018 midterm elections that allowed for two politically motivated impeachments where Democrats, especially in the House led by partisan clowns like Adam Schiff and Jamie Raskin, flexed their political muscle in ways not previously seen.

    These activities culminated in the weeks leading up to the 2020 presidential election, when any reference to the New York Post’s Hunter Biden laptop story was blacked out by the mainstream media. It spread to social media, where Trump was banned while intelligence community stooges were able to peddle the narrative that the story was a Russian disinformation operation. We, on the right, call them the 51 Spies Who Lied.

    Then we have the unprecedented lawfare deployed against Trump during the Biden information, carefully coordinated by Biden’s completely corrupt Department of Justice led by Merrick Garland, the forum-shopped Alvin Bragg prosecution, and two Jack Smith prosecutions—the Florida documents case and the other in Washington, DC—and you wonder how Trump was able to respond. Throw in two more completely politically motivated trials—the outrageous Letitia James fraud prosecution back in New York City and the apparently compromised Fani Willis election interference case in Georgia—and you have a legal onslaught that would have destroyed a lesser man.

    On Saturday, after failing to remove Trump from the 2024 race that polls now say he’s winning handily, a 20-year-old assassin took the election into his own hands. But this is not surprising when you watch this post-assassination-attempt compilation video posted on TikToK.

    When I saw the cover of the June issue of the New Republic, the one with the AI-generated composite image with the faces of Hitler and Trump merged, it disgusted me. Trump is many things (not always ethical in his business affairs, bombastic, subject to exaggeration, a serial philanderer), but he is not a fascist. Far from it. His first administration proved that. He didn’t lock up Hillary Clinton or send Rachel Maddow to a reeducation camp (although, in the eyes of many, he should have done both).

    As with all administrations, Trump’s first period in office had many upsides and a few significant downsides (the COVID responses under his watch were very damaging, he tolerated too many Obama holdovers for far too long, and he did not reform our armed forces as promised).

    I would, however, highlight five significant Trump achievements that should make a rock-solid case for his second term in office:

    1. Energy independence was arguably Trump’s greatest accomplishment. In under three years, our unleashing of oil exploration made America a net energy exporter, bringing the world into our bounty. Affordable energy is key to a higher quality of life, and you can thank Donald Trump for standing firm against environmental extremists and radicals in the Democrat Party who work hard to keep energy costs high. During Biden’s first week in office, bowing to environmental extremists based on the far left, the Keystone pipeline was scuttled, and exploration, especially in Alaska, was curtailed. The net result is that we now import rather than export petroleum.

    2. Securing our borders was always going to be difficult, given the multi-generational push from the left to provide sanctuary for non-citizens. Trump’s DHS ensured that immigration laws were followed, the flow of immigrants was managed, and those who did not meet the criteria were kept in Mexico until their asylum cases could be heard. Humane, practical, and effective. Unlike today, under the leadership of Biden and his incompetent Secretary of Homeland Security, Alejandro Mayorkas, immigration is a catastrophe. We have no idea exactly how many aliens have illegally entered the United States during the Biden administration. At a minimum, the number is eight million, but it could be as high as 12 million or more.

    3. The creation of the Abraham Accords of 2020 was a miracle. Imagine having a host of Arab countries sign a normalization agreement with Israel, thus putting aside generations of aggression in the name of Abraham of biblical descent. By mismanaging the response to the October 7, 2023, Gaza attacks, Biden has thrown this away and alienated both Israel and the Palestinians, as well as much of the Arab world that was considering stronger ties with Israel.

    4. Supreme Court appointments tend to define a presidency in perpetuity. Trump’s three appointees (Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett) allowed for a moderate balance within the Court. It provided an opportunity to shield America from the left, using the Court as a way to push agendas that would not have withstood the legislative process. If re-elected, Trump will almost surely appoint two more justices to replace Justices Thomas and Alito, and conceivably two more to replace Sotomayor and Roberts, who will both be in their seventies if Trump serves to the end of a second term. Trump’s impact will last long after he is out of office.

    5. Politicians, particularly Democrats, love to start wars. Not Donald Trump. Under his leadership, there were no new interventions, no new foreign invasions, and no new threats to our homeland. Due to the crisis on the southern border that has been boiling over for over three years, we have no idea how many terrorists have slipped across the border to do us harm. His America First agenda served as a warning to bad actors around the world: Don’t mess with the Orange Man.

    Compare these accomplishments to those of the current inhabitants of the White House. There is nothing there to warrant giving the Biden administration more opportunities to, in the words of Barack Obama, “f*ck things up.”

    Trump, like all of us, is a flawed man. Yet despite Saturday’s assassination attempt, he is on the cusp of being formally nominated to run for reelection by his party. If re-elected, as polls and Biden’s debate self-immolation would seem to indicate, he will be only the second president in US history to serve two non-contiguous terms. If he gets to that point, Trump will have surmounted unprecedented obstacles.

    What can we expect from a second Trump term? Everything that the Biden administration is not: an America First governing policy (not the Project 2025 manifesto endlessly parroted by Democrat shills in lockstep with their stenographers in the compliant mainstream media), enforcement of federal law (imagine that!), and a renewed accountability of government to its citizens. It’s morning in America once again.

    Only the most rabid partisans would claim that Trump is an authoritarian, a dictator, or a fascist. Those voices are sounding tired now, after three-plus years of one of the most authoritarian administrations in our history that has censored our speech, imprisoned its enemies, ignored the law, embraced non-citizens, enabled our enemies abroad, and created chaos in our cities. Those voices are fading into irrelevance. They are fading into a history we will remember as one of the most challenging times for the American experiment, and lucky for us, we have a way out.

    America is ready for a better quality of life. America is ready for justice. America is ready for a return to greatness.

    https://platform.twitter.com/widgets.js

    America is ready for the return of Trump.

    Tyler Durden
    Mon, 07/15/2024 – 23:00

  • Prominent Syrian Businessman Assassinated By Israeli Drone Strike
    Prominent Syrian Businessman Assassinated By Israeli Drone Strike

    A prominent Syrian businessman who has long been close to the government of Bashar al-Assad has been killed by an Israeli drone near the border with Lebanon on Monday, Lebanese media and the Associated Press report.

    The man, Baraa Katerji, was traveling in his car near the Syrian-Lebanese border Monday evening when it was struck by a missile, instantly killing him and his bodyguard.

    President Bashar al-Assad and business tycoon Baraa Katerji

    He was likely targeted due to his being under US-led sanctions and a facilitator of so-called ‘illicit’ shipments of Iranian oil into Syria. Katerji oversaw a business empire based on oil, transport, logistics, and construction.

    The AP details based on regional sources that—

    An official from an Iran-backed group said that Katerji was killed instantly while in his SUV on the highway linking Lebanon with Syria. The official spoke on condition of anonymity because he wasn’t authorized to speak to the media.

    The pro-government Al-Watan daily quoted unnamed “sources” as saying that Katerji, 48, was killed in a “Zionist drone strike on his car.” It gave no further details.

    Both the US and Israel have long sought to thwart Iranian oil and energy imports. For years the Syrian population has been hit hard by the sanctions, and is almost totally dependent on energy links to Tehran.

    Prior to the war, the Syrian population’s fuel and energy needs could be sustained by oil and gas fields in northeast Syria, but the US has occupied these going back years at this point. This has resulted in rolling blackouts and lengthy queues at gas stations. The economy has been smashed and led to unprecedented poverty and hunger.

    Israel has been attacking what it calls ‘Iranian assets’ in Syria on almost a weekly basis, with the last strike on Damascus being Sunday, resulting in a Syrian soldier killed and three others injured.

    https://platform.twitter.com/widgets.js

    A source told state-run SANA, “The Israeli enemy carried out an aerial aggression from the direction of occupied Syrian Golan, while our Syrian Arab Army’s air defense systems intercepted the missiles launched by the Israeli enemy and downed some of them.”

    Washington and Tel Aviv have remained committed to ensuring Syria can never be rebuilt, and that the economy and infrastructure stay in ruins…

    https://platform.twitter.com/widgets.js

    While such strikes have become common, much more rare is a drone strike of a lone businessman. It remains a mystery as to exactly why Israeli intelligence would target Katerji, however, enemies of Damascus have long seen him as a powerful figure within the ‘elite’ Assad inner-circle. 

    Tyler Durden
    Mon, 07/15/2024 – 22:35

  • VDH: Assassination Porn & The Sickness On The Left
    VDH: Assassination Porn & The Sickness On The Left

    Authored by Victor Davis Hanson via X:

    If we were leftists and we were to use leftist tropes to editorialize the recent attempt on Trump’s life, then we would frame the assassination attempt in the following way:

    We have witnessed for years blatant exceptions to the once common custom that we don’t normalize the imagined killing of any president or presidential candidate and thus lower the bar of violence.

    But the Left constantly makes Trump an exception.

    Now, it as if the imagined killing of Trump had been mainstreamed and become acceptable in a way inconceivable of other presidents.

    (Do we remember the rodeo clown who merely wore an Obama mask during a bull riding contest and was punished by being permanently banned by the Missouri State Fair authorities?)

    So since at least 2016 there has been a parlor game among Leftist celebrities and entertainers joking (one hopes), dreaming, imagining, and just talking about the various and graphic ways they would like to assassinate or seriously injure Trump:

    By slugging his face (Robert De Niro),

    by decapitation (Kathy Griffin, Marilyn Manson),

    by stabbing (Shakespeare in the Park),

    by clubbing (Mickey Rourke),

    by shooting ( Snoop Dogg), by poisoning (Anthony Bourdain),

    by bounty killing (George Lopez),

    by carrion eating his corpse (Pearl Jam),

    by suffocating (Larry Whilmore),

    by blowing him up (Madonna, Moby),

    by throwing him over a cliff (Rosie O’Donnell),

    just by generic “killing” him (Johnny Depp, Big Sean),

    or by martyring him (Reid Hoffman: “Yeah, I wish I had made him an actual martyr.”).

    Or should we deplore the use of telescopic scope imagery, given that the Left blamed Sarah Palin for once using bullseye spots on an election map of opposition congressional districts, claiming that such usage had incited the mass shooting by Jared Lee Loughner?

    Yet, recently POTUS Joe Biden was a little bit more graphic and a lot more literal.

    In a widely reported call to hundreds of donors last week, Biden boasted, “I have one job, and that’s to beat Donald Trump. I’m absolutely certain I’m the best person to be able to do that. So, we’re done talking about the debate, it’s time to put Trump in a bullseye.”

    https://platform.twitter.com/widgets.js

    “In a bullseye?”

    At least, Biden did not go back to the full Biden beat-up porn of the past (e.g., “If we were in high school, I’d take him behind the gym and beat the hell out of him”/ “The press always asks me, ‘Don’t I wish I were debating him?’ No, I wish we were in high school – I could take him behind the gym. That’s what I wish.”).

    Then there is the question of the Secret Service and one’s political opponents. Given the tragic history of the Kennedys, why in the world did the Biden administration not insist that third-party candidate Robert Kennedy, Jr. be accorded Secret Service protection?

    Because his candidacy was felt to be disadvantageous to Biden?

    And why just this April would the former head of the January 6th Committee and 2004 election obstructionist Rep. Bennie Thompson (D-Miss.) introduce legislation ridiculously entitled, “Denying Infinite Security and Government Resources Allocated toward Convicted and Extremely Dishonorable (DISGRACED) Former Protectees Act” to strip away Secret Service protection for former President Trump and by this April current leading presidential candidate?

    Had Thompson’s bill passed, would that not have been confirmation for a potential shooter to feel his task was just made much easier?

    But in a wider sense, if the common referent day after day on the Left is that Trump is another Hitler (cf. a recent The New Republic cover where Trump is literally photoshopped as Hitler), then it seems reckless not to imagine an unhinged or young shootist believing that by taking out somewhat identical to one of the greatest mass murderers in history, he would be applauded for his violence?

    So is their logic, shoot Trump and save six million from the gas chambers?

    After all, The New Republic defiantly explained their Hitler-Trump cover photo this way, “Today, we at The New Republic think we can spend this election year in one of two ways. We can spend it debating whether Trump meets the nine or 17 points that define fascism. Or we can spend it saying, “He’s damn close enough, and we’d better fight.”

    Well, New Republic, recently someone took you up on your argument that Trump was “damn close enough” to Hitler and so he likewise chose to “fight”— albeit with a semi-automatic rifle.

    If ad nauseam, a Joy Reid is screaming about Trump as a Hitlerian dictator (“Then let me know who I got to vote for to keep Hitler out of the White House”) or Rachel Maddow is bloviating about studying Hitler to understand Trump, then finally the message sinks in that a mass murderer is about to take power – unless…

    Finally, the idea, if true, that bystanders spotted a 20-year-old on a nearby roof with a gun, a mere 130 yards from Trump, and in vain warned police of his presence, is surreal. Is it all that hard for the Secret Service to post a few agents on the tops of a few surrounding buildings closest to the dais, or at least coordinate with local law enforcement to do the same?

    That is a no brainer.

    Whoever made the decisions concerning the proper secret service security details for presidential events should be immediately fired.

    Tyler Durden
    Mon, 07/15/2024 – 22:10

  • US No Longer Seen As Shining Example Of Democracy
    US No Longer Seen As Shining Example Of Democracy

    Saturday’s failed assassination attempt against Donald Trump not only shocked the world, but also added a tragic chapter to a 2024 presidential race that was already marred in turmoil and controversy. First there was Trump’s conviction in the hush money case, which makes him the first convicted felon to run for president as a major party candidate.

    Then there was Biden’s debate debacle, which sent shockwaves through the Democratic Party, as large parts of the American public seem to have lost faith in the president’s ability to serve a second term.

    And now this, another eruption of political violence, three and a half years after the January 6 attack on the U.S. Capitol.

    The events of the past few years are just the culmination of a trend that started long before: the increasing polarization of the political landscape.

    Reinforced by social media echo chambers and politicians seemingly more bound to their own agenda than to the truth or the good of the country, the U.S. seems more divided than ever, making compromise – a key component of a working democracy – virtually impossible.

    All this hasn’t gone unnoticed outside the United States, where the country, once a role model for democracy, is viewed in an increasingly negative light.

    As Statista’s Felix Richter reports, according to the Pew Research Center’s Global Attitudes Survey, the U.S. has lost its status as the shining light of democracy with the majority of respondents from 34 countries saying that the U.S. democracy is no longer or has never been a good example for other countries to follow.

    Infographic: U.S. No Longer Seen as a Shining Example of Democracy | Statista

    You will find more infographics at Statista

    As the chart shows, respondents from France and Mexico were particularly critical of the U.S., as nearly 40 percent of respondents from both countries said that U.S. democracy has never been the shining example it’s often made out to be. In most countries, the United States’ reputation as a democracy has suffered in recent years, with more than 60 percent of respondents from Germany, the UK, Canada or Japan saying that the U.S. used to be a good example but hasn’t been in recent years.

    Tyler Durden
    Mon, 07/15/2024 – 21:45

  • The Mississippi Child Literacy Miracle
    The Mississippi Child Literacy Miracle

    Authored by Aaron Gifford via The Epoch Times (emphasis ours),

    Mississippi ranked 49th in the United States for elementary school literacy 10 years ago, when fourth graders were essentially an entire grade level behind the rest of the nation.

    (Illustration by The Epoch Times, Shutterstock)

    Fast-forward a decade and 85 percent of third graders in the Magnolia State passed the state reading assessment test in 2023, moving Mississippi up to No. 21 and showing the fastest growth in the country in reading comprehension, despite having one of the lowest per-pupil expenditure rates.

    “People called it a miracle,” Kristen Wells-Wynn, literacy director for the Mississippi Department of Education, told The Epoch Times on July 3, “but we call it a marathon.”

    For the coming academic year, teacher training in Mississippi will expand to higher grade levels, and other states, such as Maryland, will try to implement Mississippi’s early literacy model.

    The change occurred in Mississippi when the state Department of Education began switching from the “balanced literacy” reading instruction method to the so-called “science of reading” approach. Ms. Wells-Wynn said Mississippi continues to fund the initiative at a cost of about $15 million annually.

    Carey M. Wright, who led the change as Mississippi’s superintendent of education, took over as the head of Maryland’s Department of Education on July 1. Her first order of business will be to oversee the same transition of reading instruction in the Old-Line State.

    Maryland residents have until July 19 to provide public comment on the change, according to a news release.

    “This initiative aims to enhance data-driven literacy standards and practices across the state, ensuring every student receives a strong foundation in literacy,” Ms. Wright said in the news release.

    “Feedback from educators, families, and community members is crucial in shaping this policy to best meet the needs of our students.”

    Children board a school bus in Jackson, Miss., on March 24, 2022. Mississippi shows the fastest improvement in reading comprehension in the United States. (Francois Picard/AFP /AFP via Getty Images)

    Understanding the Brain

    Science of reading is an ongoing body of research that dates back 50 years, even though dozens of academic and scientific research articles are published on the topic annually, as technological and medical breakthroughs reveal new information about how the human brain processes information.

    Ms. Wells-Wynn explained that the main difference between the two approaches is which parts of the brain are triggered.

    With balanced literacy, also known as the whole language approach, students are taught to develop “cues” for words, which often involves looking at pictures next to words. Through repetition, the student progresses from guessing words based on those cues to memorizing them. Reading in groups and writing activities that coincide with reading instruction are standard instruction techniques.

    By contrast, science of reading emphasizes the use of phonics, allowing students to understand how the words look and sound as they acquire vocabulary and then use it to understand the meaning of paragraphs and reading passages.

    Learning by memorization, Ms. Wells-Wynn said, mostly taxes the right side of the brain, which is strong with the visualization process but less equipped for deeper understanding. The left side is more capable of converting concepts into a process, like decoding words.

    “Things become automatic, as opposed to memorizing them,” she said. “You’re building the good neurocircuitry on the left side.”

    The Edunomics Lab at Georgetown University identified Mississippi as the strongest national example of “return on investment” based on federal emergency relief provided to state public schools during the COVID-19 pandemic.

    In 2023, per-pupil spending in the state was $11,700 ($2,000 of which came from federal relief money) as reading scores continued to rise. By contrast, per-pupil spending in Connecticut was listed at $24,000 ($1,200 from federal relief money) per student, while average fourth-grade reading scores there declined by more than five points since 2013, according to the Edunomics Lab data.

    Through the “balanced theory” approach, students are taught to develop “cues” for words, while the “science of reading” approach emphasizes the use of phonics. (Michael Loccisano/Getty Images)

    Other State Efforts

    If Maryland implements science of reading, it will join the list of 21 other states where this method is both required and funded. Most states that do not require the curriculum at least fund it, including California.

    The National Council on Teacher Quality’s 2024 State of the States report indicates that only six states—Maine, Montana, Washington, Nebraska, South Dakota, and Illinois—do not mandate or fund the curriculum.

    According to The Reading League, a Syracuse, New York-based nonprofit that advocates the science of reading-based instruction, 60 percent of U.S. fourth graders are not reading proficiently. The organization has chapters across 33 states. Members help with teacher professional development efforts, work with district administrators to develop curriculum, and advocate wholesale reading curriculum changes at the state level.

    “As states continue to implement practices aligned to the science of reading, they send a powerful message to educators, parents, and students about the state’s commitment to successful reading outcomes for all children,” Maria Murray, founder and executive director of The Reading League, said in an email to The Epoch Times.

    “Maryland education leaders supported those who requested training in evidence-aligned reading instruction. That support will have a transformational impact on literacy and learning in the state.”

    In California, lawmakers failed to pass a bill this year that would have required the science of reading-based curriculum in all schools, though districts can require it locally.

    One of the organizations that lobbied against the California bill, English-learners advocacy group Californians Together, stated in a letter to the legislation sponsors that the curriculum does not “embrace the full range of a research-based and comprehensive approach that centrally addresses the developmental needs of culturally and linguistically diverse students.”

    Read more here…

    Tyler Durden
    Mon, 07/15/2024 – 21:20

  • Not The First, Won't Be The Last – A Timeline Of Assassination Attempts Against US Presidents
    Not The First, Won’t Be The Last – A Timeline Of Assassination Attempts Against US Presidents

    Former President Donald Trump survived an assassination attempt at a rally in Butler, Pennsylvania, on Saturday, where a gunman, later identified as 20-year-old Thomas Matthew Crooks, opened fire on the presumptive GOP candidate. The shooting, which pierced Trump’s right ear, killed one rally attendee and critically injured two more bystanders, casts a huge shadow over this week’s Republican National Convention, where Trump is expected to accept his third consecutive nomination as the GOP’s presidential candidate heading into the 2024 election.

    While there have been several failed attempts to harm or kill a U.S. president in the meantime, Saturday’s attack on Donald Trump was the most serious attempt on the life of a president or presidential candidate since Ronald Reagon was shot and seriously injured in 1981.

    Three and a half years after the events of January 6, 2021, it once again drew the spotlight on the increasingly polarized political climate in the United States, which has raised concerns about possible eruptions of political violence in the run-up to and after the upcoming presidential election.

    History is full of examples of violence against elected leaders and the United States is no exception.

    As Statista;’s Felix Richter shows in the chart below, four U.S. presidents have been assassinated while in office, with Ronald Reagan the only sitting president to survive an assassination attempt severely injured.

    Infographic: A Timeline of Assassination Attempts Against U.S. Presidents | Statista

    You will find more infographics at Statista

    Like Trump, former president Theodore Roosevelt was campaigning for a return to the White House, when he was shot and injured in an attack in 1912. Roosevelt survived with a bullet lodged in his chest muscle, after the bullet’s impact had been softened by folded paper and a glasses case in his pocket.

    Tyler Durden
    Mon, 07/15/2024 – 20:55

  • More Than Half Of Cancer Deaths In US A Result Of Lifestyle Choices: Study
    More Than Half Of Cancer Deaths In US A Result Of Lifestyle Choices: Study

    Authored by Amie Dahnke via The Epoch Times (emphasis ours),

    A new study by the American Cancer Society reveals that four in 10 cancer cases and about one-half of all cancer deaths in adults age 30 and older in the United States are attributed to lifestyle choices, or modifiable risk factors.

    These risk factors are considered things a person can typically control and include smoking, excess body weight, alcohol consumption, physical activity, diet, exposure to ultraviolet (UV) radiation, and certain carcinogenic infections, according to the study published in CA: A Cancer Journal for Clinicians.

    Smoking Is the No. 1 Modifiable Risk Factor

    Cigarette smoking topped the charts as the leading risk factor, contributing to nearly 20 percent of all cancer cases and close to 30 percent of cancer deaths. Smoking comprised 56 percent of potentially preventable cancers in men and almost 40 percent of those in women.

    “Despite considerable declines in smoking prevalence during the past few decades, the number of lung cancer deaths attributable to cigarette smoking in the United States is alarming,“ Dr. Farhad Islami, lead author of the report, said in a news release. ”This finding underscores the importance of implementing comprehensive tobacco control policies in each state to promote smoking cessation, as well as heightened efforts to increase screening for early detection of lung cancer, when treatment could be more effective.”

    In the study, Dr. Islami and his team used data on cancer incidence, mortality, and risk factors to estimate the number of cancer cases and deaths that could be attributed to each potentially modifiable risk factor. They went through this process for 30 cancer types and delved into the specifics of the modifiable risk factors.

    For example, while investigating how a person’s diet could contribute to cancer risk, researchers looked at the amount of red meat and processed meat, the number of fruits and vegetables, and the amount of dietary fiber and calcium they consumed.

    They found that next to cigarette smoke, excess body weight was the second main modifiable risk factor, contributing to 7.6 percent of potentially preventable cancers, followed by alcohol consumption at 5.4 percent, UV radiation exposure at 4.6 percent, and physical inactivity at 3.1 percent.

    “Interventions to help maintain healthy body weight and diet can also substantially reduce the number of cancer cases and deaths in the country, especially given the increasing incidence of several cancer types associated with excess body weight, particularly in younger individuals,” Dr. Islami said.

    Lifestyle Factors Accounted for up to 100 Percent of Certain Cancers

    The types of cancers caused by modifiable risk factors varied. Lung cancer had the most cases attributable to these risk factors in both men and women, followed by skin melanoma, and colorectal cancer. For women, breast cancer, endometrial cancer, and colorectal cancer were the most attributable to modifiable risk factors. For men, urinary bladder cancer was.

    Modifiable risk factors accounted for 100 percent of cases of cervical cancer and Kaposi sarcoma, a type of cancer associated with HIV. Additionally, modifiable risk factors contributed to 4.9 percent of ovarian cancer cases.

    These lifestyle-based risk factors contributed to 50 percent of the cases in 19 of 30 different cancers, including:

    • 92.2 percent of melanomas
    • 94.2 percent of anal cancers
    • 89.9 percent of larynx cancers
    • 88.2 percent of lung and bronchus cancers
    • 87.4 percent of pharynx cancers
    • 85.6 percent of tracheal cancers
    • 85.4 percent of esophagus cancers
    • 83.7 percent of oral cancers

    “These findings show there is a continued need to increase equitable access to preventive health care and awareness about preventive measures,” Ahmedin Jemal, a senior author of the study, said in the news release.

    “Effective vaccines are available for hepatitis B virus, that causes liver cancer and HPV, which can cause several cancer types, including cervical, other anogenital, and oropharyngeal cancers. Vaccination at the recommended time can substantially reduce the risk of chronic infection, and consequently, cancers associated with these viruses. HPV vaccination uptake in the United State [sic] is suboptimal.”

    Tyler Durden
    Mon, 07/15/2024 – 20:30

  • "Ordered My First MAGA Hat": Closet Trump Supporters Are Coming Out Of Woodwork After Failed Assassination Attempt 
    “Ordered My First MAGA Hat”: Closet Trump Supporters Are Coming Out Of Woodwork After Failed Assassination Attempt 

    “The dam broke for me and many others today. I live in SF, where it’s a social death sentence to voice support for Trump,” tech entrepreneur James Ingallinera wrote on X moments after the Trump assassination attempt on Saturday afternoon. 

    Let’s not forget that famed investor David Sacks and other VCs in San Francisco have recently become Trump supporters, indicating the tide has been shifting.

    Ingallinera wrote in the post, which has garnered 1.7 million views, “Regardless, I will be voting for Trump this election, and will voice my support publicly and unabashedly, social and financial consequences be damned. A very serious line was crossed today.”

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    In the hours and days after the failed attempted assassination, new Google Search trend data shows a massive surge nationwide in support for Trump. Folks are scouring the internet for online merchant stores to purchase Trump yard signs, bumper sticks, shirts, and other political gear.

    Google Trends search: “Trump yard sign”: 

    Google Trends search: “Buy a trump sign”: 

    Google Trends search: “Trump bumper sticker”:

    Google Trends search: “Trump 2024 sticker”: 

    Google Trends search: “Trump shirt”: 

    Google Trends search: “MAGA hat”:

    Google Trends search: “Trump flag”: 

    We were the first to report Sunday that the Google Trends search term “Donate to Trump” surged nationwide.

    These search trends are high-frequency data suggesting Trump’s support is soaring. The odds market on election bets also mirrors this. 

    Here’s what others on X are saying: 

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    The takeaway here is that either a whole bunch of Trump supporters loaded up on new MAGA gear or closet Trump supporters are coming out of the shadows to represent the former president.

    Tyler Durden
    Mon, 07/15/2024 – 20:05

  • Tverberg: Advanced Economies Are Headed For A Downfall
    Tverberg: Advanced Economies Are Headed For A Downfall

    Authored by Gail Tverberg via Our Finite World,

    It may be pleasant to think that the economies that are “on top” now will stay on top forever, but it is doubtful that this is the way the economy of the world works.

    Figure 1. Three-year average GDP growth rates for Advanced Economies based on data published by the World Bank, with a linear trend line. GDP growth is net of inflation.

    Figure 1 shows that, for the Advanced Economies viewed as a group (that is, members of the Organization for Economic Co-operation and Development (OECD)), GDP has been trending downward since the early 1960s; this is concerning. It makes it look as if within only a few years, the Advanced Economies might be in permanent shrinkage. In 2022, the expected annual GDP growth rate for the group seems to be only 1%.

    What is even more concerning is the fact that the indications in the graph are based on a period when the debt of the Advanced Economies was growing. This growing debt acted as an economic stimulus; it helped the industries manufacturing goods and services as well as the citizens buying the goods and services. Without this stimulus, GDP growth would no doubt appear to be falling even faster than shown.

    In this post, I will look at underlying factors that relate to this downward trend, including oil consumption growth and changes in interest rate policies. I will also discuss the Maximum Power Principle of biology. Based on this principle, the world economy seems to be headed for a major reorganization. In this reorganization, the Advanced Countries seem likely to lose their status as world leaders. Such a downfall could happen through a loss at war, or it could happen in other ways.

    [1] The major factor in the downward trend in GDP growth seems to be the loss of growth of oil supply.

    In the 1940 to 1970 period, the price of oil was very low (less than $20 per barrel at today’s prices), and oil supply growth was 7% to 8% per year, which is very rapid. The US was the dominant user of oil in this era, allowing the US to become the world’s leading country both in a military way (hegemony), and in a financial way, as the holder of the “reserve currency.”

    Data on year-by-year oil consumption growth is not available for the earliest years, but we can view the trend over 10-year periods (Figure 2).

    Figure 2. Smil estimates are based on estimates at 10-year intervals by Vaclav Smil in Appendix A of Energy Transitions: History, Requirements and Prospects. Energy Institute estimates are based on amounts in 2023 Statistical Review of World Energy.

    With the rapid growth in the world oil supply in the 1940 to 1970 timeframe, the US was able to help Europe and Japan rebuild their infrastructure after World War II. The US also did a great deal of building at home, including adding electricity transmission lines, oil and gas pipelines, and interstate highways. It also added a Medicare program to provide healthcare for the elderly. The emphasis at this time was on building for the future.

    In the 1960s, the Green Revolution was started, aimed at increasing the quantity of food produced. This revolution involved greater mechanization of farming, the use of hybrid seeds that required more fertilizer, the use of genetically modified seeds, and the use of herbicides and pesticides. With these changes, farming became increasingly dependent on oil and other fossil fuels. The green revolution led to lower inflation-adjusted prices for food, as well as greater supply.

    The 1970s was a time of adaptation to spiking oil prices and declining growth in oil supplies. At the same time, wages were increasing, and more women were entering the workforce, making the rise in oil prices more tolerable. There were also advances in computerization, changing the nature of many kinds of work.

    The 1980s marked a shift to an emphasis on how to get costs down for the consumer. There was more emphasis on competition and leverage (the euphemism for borrowing). Instead of building for the future, the emphasis was on using previously built infrastructure for as long as possible.

    Also in the 1980s, the Advanced Economies started to shift toward becoming service economies. To do this, a significant share of manufacturing and mining was moved to lower-wage countries. Transferring a significant share of industry abroad had the additional benefit of holding down prices for the consumer.

    [2] Oil consumption growth and GDP growth seem to be connected.

    Figure 3. Chart showing both 3-year average GDP growth rate for Advanced Economies based on data published by the World Bank and 3-year average growth rates for oil consumption by Advanced Economies based on data of the 2023 Statistical Review of World Energy by the Energy Institute.

    Figure 3 shows that oil consumption growth was higher than GDP growth up until 1973, when oil prices started to spike. This was the period of greatly adding to infrastructure, using the abundant oil supply, as discussed in Section [1]

    After 1973-1974, GDP growth tended to stay slightly above oil consumption growth as Advanced Economies started to focus on becoming service economies. As part of this shift, Advanced Economies began moving industry to lower-wage countries. This shift became more pronounced after 1997, when the Kyoto Protocol (limiting CO2 emissions) was promulgated. The Kyoto Protocol gave participating countries (in practice, the Advanced Economies) a reason to hold down their own local consumption of fossil fuels, which is what is measured in Figure 3 and most other energy analyses.

    Figure 3 shows that even after moving a significant share of industry to offshore locations, there still seems to be a significant correlation between oil consumption growth and GDP growth. Even with a service economy, oil consumption growth seems to be important!

    [3] Prior to 1981, increasing interest rates were used to slow economic growth.

    Figure 4. Secondary market interest rates with respect to 10-year US Treasury Notes and 3-month US Treasury Bills, in a chart made by the Federal Reserve of St. Louis and annotated by Gail Tverberg.

    With the rapid growth in oil consumption in the 1940 to 1970 period, the economy often grew rapidly despite rising interest rates. After World War II, government loans became available to returning veterans to buy homes, helping to make the usage of oil affordable.

    It was only as growth in oil consumption slowed and interest rates rose to a high level in the 1979-1981 period that high interest rates created a major recession. At such high interest rates, builders of all kinds were discouraged from building. Hardly anyone could afford a new home. Businesses couldn’t afford new factories, and governments couldn’t afford to build new schools. Few people could afford new car loans.

    On Figure 3, it is not surprising that GDP dipped at the same time as oil consumption shortly after 1981. The dip in oil consumption was larger because heavy users of oil, such as construction and manufacturing, were squeezed out by the high interest rates.

    [4] Falling interest rates in the period 1981 to 2020, as shown in Figure 4, stimulated the economy in many ways.

    The 1981 to 2020 period marked a time of generally falling interest rates, with short term interest rates typically being below long-term interest rates. Reducing interest rates tends to stimulate the economy in a variety of ways:

    (a) As we all know, lower interest rates make monthly payments on new home mortgages lower. This means that more citizens can afford to purchase homes, leading to greater demand for new homes and their furnishings. Prices of homes tend to rise, partly because people with a given income can afford larger, fancier homes, and partly because more people in total can afford homes.

    (b) Even on existing home mortgages, new lower rates can have an impact. In the US, mortgages are frequently set for a long term, such as 20 years, but they can often be refinanced at a lower rate if interest rates fall lower. In many other countries and in the US for business property, mortgage rates are set for a shorter term, such as 5 years. As the loans renew, the new lower rates become available. Borrowers are happy; there is suddenly a smaller monthly payment for the same property.

    (c) With lower interest rates, there is demand for more homes to be built. This stimulates the construction industry and helps the prices of all kinds of built structures rise.

    (d) A similar situation to (a), (b) and (c) exists for all kinds of items normally purchased using loans. New cars, new boats, and new second homes are affected, as are many kinds of business loans. Even loans taken out by governmental organizations become less expensive. It suddenly becomes easier to buy goods, so more goods are sold. Market prices can be higher because at the new lower interest rates, more people can afford them.

    (e) There can be some benefit with respect to long-term bond holdings, if interest rates fall. Bonds generally promise to pay a stated interest rate over the life of the bond, say 20 years. If the market interest rate falls, the selling price of a high coupon-rate long-term bond increases because such bonds are worth more than a similar new bond with a lower coupon interest rate.

    Financial institutions such as banks, insurance companies, pension plans, and endowment funds generally have long-term bonds as part of their portfolios. The higher value of bonds may or may not be reflected in financial statements, depending on the accounting rules applied. Sometimes, “amortized cost” is used as the carrying value until the bond is sold, hiding the gain in value. Conversely, if bonds are “marked to market,” then the higher value becomes immediately reported in financial statements.

    (f) With mark-to-market accounting, insurance companies, banks and many other kinds of financial organizations can reflect the benefit immediately. As a result, for example, insurance companies may be able to sell policies more cheaply in a falling interest rate environment. (Of course, as interest rates start rising, the opposite is true. I believe that is part of the problem with the spike in insurance rates that the world has been witnessing in the past two years. But this is seldom mentioned because it is less well understood.)

    (g) With falling interest rates, practically all kinds of asset prices rise. For example, the prices of shares of stock tend to rise, as does the price of farmland. Prices of office buildings tend to rise. People feel richer. They can sell some of their investments and profit from the sale. Tax rates on long-term capital gains are low in the US, further helping investors.

    (h) If generally falling interest rates can be maintained for many years (1981 to 2020), gambling in the stock market starts looking like a great idea. Investment using borrowed funds looks like it makes sense. Buying derivatives seems to make sense. Adding more and more leverage makes sense. People rich enough to gamble in the stock market or the housing market begin to gain huge advantages over the many poor people whose wages remain too low to buy more than the basics.

    These advantages tend to drive a wider and wider wedge between the rich and the poor. As diminishing returns become more of a problem, wage and wealth disparities become increasingly major issues. These disparities arise partly because of competition with low-wage countries for less-skilled jobs, and partly because of the need to pay higher wages to highly educated workers. They also arise because owners of shares of stock and of homes have tended to receive the benefit of significant capital gains as interest rates have fallen, for the reasons described above.

    [5] Since 2020, interest rates have begun to rise in the Advanced Economies. It is difficult to see how a shift to higher interest rates can turn out well.

    News write-ups about the rise in interest rates often say something like the following:

    The Fed hiked interest rates a total of 11 times between March 2022 and January 2024, making borrowing more expensive for banks, businesses, and people in an attempt to curb rampant inflation.

    However, Figure 4 shows that long-term interest rates (the blue line) started to rise much earlier than this–about the time the US started to borrow a huge amount of money to support the programs it initiated to keep the economy functioning at the time of the Covid restrictions in 2020.

    This funding went back into the economy to provide income to would-be workers who were forced to stay home and to small businesses that needed additional funds to cover their overhead. Pauses in student loan repayments had a similar effect. At the same time, fewer goods and services were created because non-essential activities were restricted.

    This combination of more wealth in the hands of citizens at the same time as a limited quantity of goods and services were being produced was precisely the right combination of actions needed to generate inflation. So, it was no wonder that there was an inflation problem.

    Indirectly, high US borrowing has been, and continues to be, part of the inflation problem. Total goods and services produced in the world economy are not currently rising very quickly because diesel and jet fuel are in short supply, something I wrote about here and here. The US and other Advanced Economies keep issuing more debt in the hope that using this debt will help them purchase a larger share of the goods and services produced by the world economy.

    It is not clear to me that this problem can be fixed since the US and the other Advanced Economies need to keep borrowing to support their economies and to fight for causes such as the Ukraine War. Note the downward trend in Figure 1!

    One of the big problems with high asset prices and higher-than-zero interest rates is that farmers find that the cost of their land becomes too high to make it worthwhile to grow crops. This is especially the case for new farmers, who may need to buy their land using the higher-cost debt.

    People often believe that farm prices will rise indefinitely, but Reuters reports that high borrowing costs and low food prices are cutting demand for farm equipment from John Deere, the world’s largest manufacturer of agricultural machinery. Without a flow of new farm equipment to replace that which is breaking or worn out, food production can be expected to fall.

    Another issue is that apartment owners find a need to raise the rent on their units if the interest rate they are forced to pay rises or if the cost of property insurance rises. If they raise the rent of their units, this leaves renters with less income for other goods and services. Indirectly, today’s wage and wealth disparity problems tend to become greater than they were before the rise in interest rates.

    In theory, if long-term (not just short-term) interest rates rise and remain higher, the many benefits of falling interest rates in Section [4] will be erased, and even reversed. The economy will be far worse off than it is now because of falling asset prices and defaulting debt. Financial institutions, such as banks and insurance companies, will be especially damaged because the true value of their long-term bonds will tend to fall. This can sometimes be hidden by accounting approaches, but ultimately unrealized capital losses will cause a problem as they did for Silicon Valley Bank.

    The heavy use of debt and leveraging in the Advanced Economies makes these economies especially vulnerable to major financial problems if interest rates rise, or even if they stay at the current level. The bubble of debt and other promises (such as pensions promises) holding up the Advanced Economies seems vulnerable to collapse.

    [6] The problem facing the people of the Advanced Economies is like the problem the biological world often faces.

    The biological world is constantly faced with the problem of too many animals (for example, wolves and deer) wanting to occupy a given space with specific resources, such as water, sunlight, and smaller plants and animals to eat. In some sense, the world economy is an ecosystem, too, one that we humans have made. The Advanced Economies are already in a conflict with the less advanced economies, trying to decide which parts of the world will “win” in the battle over the resources needed for future economic growth.

    The Maximum Power Principle (MPP) tries to explain who can be expected to be the winners and losers in an ecosystem when there are not enough resources to go around. I think of the MPP as an extension of the “survival of the fittest” or “survival of the best adapted.” The difference is that MPP looks at the functioning of the overall system, which, in this case, is the world economy.

    The parts of the system (such as the individual people, the levels of borrowing, the government organizations, and the narratives governments choose to tell to explain the current situation) will be selected based on how well they permit the overall world economy (not just the Advanced Economies) to function. The goal seems to be to create as many goods and services as possible by dissipating all available energy in as useful a way as possible. In this way, the world GDP, which is a measure of the output of the useful work performed by the world economy, can stay as high as possible, for each time period.

    Writings by scientists on this subject tend to be difficult to understand, but they may add some insight. One definition of MPP says that systems which maximize their flow of energy survive in competition. Mark Brown, professor emeritus at the University of Florida, says that under the Maximum Power Principle, “System components are selectively reinforced based on their contribution to the larger systems within which they are embedded,” and, “When resources are in short supply, they need to be used efficiently.” John Delong from the University of New Mexico says, “Winning species were successfully predicted a priori from their status as the species with the highest power when alone.”

    I suggest that if these principles are applied to the competition between the Advanced Economies and the less advanced economies of the world, the Advanced Economies will lose. For example, the Advanced Economies have been falling behind the less advanced economies in industrial output.

    Figure 5. Industrial output of Advanced Economies, compared to that of Other than Advanced Economies based on data of the World Bank.

    In addition, the Advanced Economies of the world have fallen behind in the bidding for oil supplies:

    Figure 6. World oil consumption, based on data of the 2023 Statistical Review of World Energy, produced by the Energy Institute.

    Furthermore, the NATO allies seem unable to pull ahead of Russia in the Ukraine conflict. In theory, this should have been an easy war to win, but with limited manufacturing capability, it has been hard for the allies to provide enough weapons of the right kinds to win.

    To me, this all points to the conclusion that in a conflict over scarce resources, the Advanced Economies are likely to lose. The conflict could come in the form of war, or it could simply be a financial conflict. Figure 1 shows that the Advanced Economies are already falling behind in the competition for economic growth, even with all the debt they are adding.

    [7] There is a lot of confusion about what is ahead.

    We don’t know what is ahead. The economy is a self-organizing system that seems to figure out its own way of resolving the problem of not enough resources to go around because of diminishing returns. The world economy seems to be headed toward reorganization.

    I believe that the Covid-19 era represented one rather strange self-organized response to the “not enough oil to go around” problem. Figure 6 shows a clear dip in the amount of oil consumed in 2020, particularly by the Advanced Economies. Some of this reduced oil consumption continues, even now, because more people started working from home, saving on oil. Another helpful change was a huge ramp-up in the use of online meetings.

    It is possible that new adaptations to limited oil supply may appear in as strange a way as the Covid-19 era did.

    Another possibility is that the Advanced Economies, particularly the US, will encounter severe financial problems as the rest of the world moves away from the US dollar. Or the problem could be falling asset prices because of higher interest rates, causing many financial institutions to fail. Or the problem could be too much money being printed, but practically nothing to buy, causing severe inflation of commodity prices.

    War may be a possibility because it is an age-old way of dealing with resource problems. For one thing, it becomes easy to raise debt to pay for a war. This debt can be used to hire soldiers and buy munitions. With the higher debt, the GDP of the economy can be expected to suddenly look better because of the stimulus given to it. The major “catch” is that picking a fight with a major competitor or two could prove to be disastrous.

    Let us hope that our leaders make wise choices and keep us away from severe problems for as long as possible.

    Tyler Durden
    Mon, 07/15/2024 – 19:40

  • Taliban Takes Americans Hostage, Says Willing To Trade For Gitmo Prisoners
    Taliban Takes Americans Hostage, Says Willing To Trade For Gitmo Prisoners

    For the first time in years, the Taliban says it has arrested and imprisoned American citizens, and is hoping to use them in a prisoner swap. The Taliban says that at least two US citizens are being held after violating Afghan laws, while the Washington Examiner has said three are in custody.

    The detained individuals have been identified as George Glezmann, Mahmood Habibi, and Ryan Corbett – as confirmed also by a State Department statement. A Taliban government spokesperson announced that the “American nationals violated the country’s law, and discussion has been held with the US officials in this regard.”

    AFP via Getty Images

    And Taliban chief spokesman Zabiullah Mujahid recently told reporters in Kabul that “the topic of a prisoner release was discussed during his recent meeting with US officials in Doha, continuing a recurring theme in their negotiations.”

    “Afghanistan’s conditions must be met. We have our citizens who are imprisoned in the US and Guantanamo,” Mujahid stated. “We should free our prisoners in exchange for them. Just as their prisoners are important to America, Afghans are equally important to us,” he added.

    It as yet unclear what precise charges the men are being held on, but Afghan national media has alluded to the possibility of “espionage” – which would be a very serious accusation, possibly resulting in a capital case.

    Both Glezmann and Corbett were initially detained in 2022, with the former having previously described he was on a tour of the country’s unique cultural landscape and history. US officials have complained that the American nationals are being held without charge or due process. Less is known about the third person who might be in custody, Muhammed Habibi, who is a US-Afghan dual citizen.

    The Taliban has exercised complete control over the war-torn, central Asian country since the US coalition pullout of August 2021, which by all accounts was chaotic and resulted in both US military and Afghan civilian deaths. 

    The US State Department has since then designated Afghanistan as a “Level 4: Do Not Travel” country for American citizens.

    An official alert says the risk of detention for foreign travelers is high. “Multiple terrorist groups are active in country and U.S. citizens are targets of kidnapping and wrongful detentions. The Department has assessed that there is a risk of wrongful detention of U.S. citizens by the Taliban,” the US State Dept. says.

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    “The Taliban have harassed and detained aid and humanitarian workers. The activities of foreigners may be viewed with suspicion, and reasons for detention may be unclear. Even if you are registered with the appropriate authorities to conduct business, the risk of detention is high,” the notification says.

    Tyler Durden
    Mon, 07/15/2024 – 19:15

  • "It's Not A 'Narrative', It's The Truth" – David Sacks Destroys WaPo's Post-Trump-Shooting Spin
    “It’s Not A ‘Narrative’, It’s The Truth” – David Sacks Destroys WaPo’s Post-Trump-Shooting Spin

    Authored bv David Sacks via X,

    I KNOW A HERO WHEN I SEE ONE

    The Washington Post names me, along with as one of several businessmen, who are using their “megaphones” to spread “narratives” about the assassination attempt on President Trump.

    I’m not sure what “narratives” they’re referring to, but I know what I saw, and I know what the crowd in Butler witnessed live.

    At it turns out, my father-in-law lives in Pennsylvania and he was at the rally on Saturday.

    When the shots rang out and Trump went down, he said pandemonium broke out around him.

    Everyone feared the worst. 

    But then Trump rose.

    Covered in his own blood, resisting the secret service’s efforts to whisk him away to safety, Trump raised his fist defiantly, and the crowd could see him say:

    “Fight. Fight. Fight.”

    Immediately the fear of the crowd dissipated, the chaotic uncertainty lifted, and it was replaced with steely resolve.

    The crowd responded back as one:

    “USA, USA, USA!” 

    This is not a “narrative.”

    It is the truth.

    Trump stood defiant in the face of an assassin’s bullet.

    There is no way to fake courage like that.

    It was more important for Trump to let the crowd know that he was unbowed and unbroken than to be taken to safety.

    Donald Trump has already been in the fight of his life for months, as vindictive Democrats seek to imprison him, but on this day he came within inches of losing it. He has risked everything for this country. 

    It is now up to us, the American people, to show him that he does not stand alone.

    Let us reject the lies, the hoaxes, the hate and the division that the media has spread about this brave man, and support his resounding victory in November.

    Tyler Durden
    Mon, 07/15/2024 – 18:50

  • Hamas Says Top Commander Alive & Well After Israel Reported His Likely Death
    Hamas Says Top Commander Alive & Well After Israel Reported His Likely Death

    On Monday Hamas announced that its top military commander, the chief of the Qassem Brigades Mohammed Deif, is safe and escaped a massive Israeli strike targeting him Saturday.

    The IDF military attack hit a camp for the internally displaced, killing at least 90 people and wounding hundreds more. Gaza authorities say that civilians were wiped out in what should have been a safe zone, but Israel has claimed it was mostly militants killed. The Associated Press is reporting, “Hamas said Sunday that Gaza cease-fire talks continue and the group’s military commander is in good health.”

    Getty Images

    Israeli leadership and media for nearly 24 hours speculated that Deif could be dead, but uncertainty has loomed. Israel has said, however, that Rafa Salama – a close associate to Deif – was killed in the operation.

    US ambassador to Israel Jack Lew said Monday he believed there are indications Deif has been eliminated. “There are still many questions regarding the results of the attack against Mohammed Deif,” ​​he said in a press briefing. “I can’t confirm whether it was successful or not, but there are indications that they have achieved it.” 

    Following the major aerial assault, there were reports Sunday that Hamas has pulled out of Qatar-mediated ceasefire talks, but the reports proved premature and Hamas has since announce it did not pull out.

    Meanwhile, airstrikes have been reported Monday across all areas of Gaza, leading to an uptick in casualties. Al Jazeera has some of the latest updates as follows:

    • The Gaza heaquarters of the UN’s Palestinian refugee agency, UNRWA, in Gaza City has been “flattened and turned into a battlefield”, says chief Philippe Lazzarini, as Israel’s latest ground campaign in the city continues to rage.
    • Children among the 80 Palestinians killed over the past day as fighter jets, heavy artillery, and helicopter gunships attack Gaza from the north to south.
    • Israeli Defence Minister Yoav Gallant praises the pilots who carried out deadly air strikes on the al-Mawasi displacement camp that killed 90 people, saying Hamas is being eroded every day with no ability to arm itself, organise, or “care for the wounded”.
    • Officials in Gaza say Israeli missiles killed 17 Palestinians and injured 80 sheltering at a United Nations school for displaced people in Nuseirat refugee camp.

    But the Israeli side could be taking more losses than what has been made public. On Monday the Israeli military in a briefing warned that it is low on tanks and ammunition.

    Mohammed Deif

    “During the course of the war, many tanks were damaged, which are disabled at this stage and are not used for combat or training, and it is not expected that new tanks will be introduced into the corps in the near future,” the Israeli military said in a statement. It noted that resources are “very limited” due to the constraints of the war.

    Tyler Durden
    Mon, 07/15/2024 – 18:25

  • GOP Was Investigating Secret Service Before Assassination Attempt
    GOP Was Investigating Secret Service Before Assassination Attempt

    Authored by Susan Crabtree via RealClearPolitics (emphasis ours),

    The Secret Service had already been under investigation by House Oversight Committee Republicans for several months when a bullet came within inches of killing former President Trump, killed a bystander, and injured at least two others at a rally in Pennsylvania Saturday afternoon.

    Even though Trump and his family members credited the special agents and a counter sniper assigned to his protective detail with saving his life and possibly many others, recriminations against the Secret Service started almost immediately after the assassination attempt.

    Americans could see for themselves how the agents and officers traveling with Trump on Saturday acted heroically, falling on the former president after his right ear was pierced by a bullet and returning heavy caliber gunfire, killing the 20-year-old shooter, Thomas Crooks. But questions remain over how Crooks managed to perch on a nearby rooftop and come within inches of killing Trump, renewing past criticisms of the once-vaunted agency with a troubled history of security lapses, employee misconduct, and uneven discipline practices.

    Rep. James Comer, who chairs the House Committee on Oversight and Accountability, has called on Secret Service Director Kimberly Cheatle to testify at a hearing on Monday, July 22.

    “Americans demand answers about the assassination attempt of President Trump,” Comer tweeted Saturday night.

    In a letter to Cheatle, Comer was far more laudatory of the agency’s actions.

    “The tremendous bravery of the individual United States Secret Service agents who protected President Trump eliminated the gunman, and possibly averted more loss of life cannot be overstated,” he said.

    In late May, as RealClearPolitics first reported, Comer’s committee had launched an investigation into a previous incident that took place in April involving a female Secret Service agent, tasked with protecting Vice President Kamala Harris, who was removed from her duties after suffering an apparent mental breakdown and attacking superior agents.

    The incident took place just before Harris was set to depart Joint Base Andrews, the home base for Air Force One and Air Force Two, the call signs of the Boeing aircraft used by the president and vice president. (Harris had not arrived at the airport when the altercation took place.)

    After Saturday’s attempted assassination, when live images of Trump clutching a bloody ear and raising his fist in defiance appeared on cable news and social media, critics began to question why Secret Service snipers didn’t fire sooner amid reports that onlookers were pointing to Crooks, who was positioned and crawling on a nearby roof, before the shots rang out.

    A source within the Secret Service community tells RCP that the agency’s rules of engagement in this situation are to wait until the president is fired upon to return fire. 

    “You want to take a shot then find out the guy was holding a telescope?” the source asked. “The Secret Service is by nature reactive … and you better be right when you do react or you’re f—–d.” 

    The Secret Service protocol requires that any counter sniper aware of a potential shooter must radio directly to the intelligence division team to respond and investigate. In this case, the investigation may have been cut short by the shooter firing his weapon, so the counter sniper then fired as quickly as possible in return. 

    The source praised the counter sniper who acquired the target and responded within three seconds, calling their performance “incredible.” 

    “The counter snipers are highly trained and extremely accurate,” he said.

    Others with law enforcement and military backgrounds want to know whether the Secret Service utilized drones to provide detailed situational awareness and, if they didn’t, why that decision was made. The use of drones has been a controversial issue within the agency since at least 2016, the source told RCP. Implementing drones would have provided detailed line-of-site analysis and aerial surveillance that would have easily identified the rooftop as a potential threat area. 

    “The USSS has access to all the best imagery and elevation data,” the military expert told RCP. “I’m not saying they didn’t [use drones], but it’s an open question.” 

    Other critics, including conservative media personality Dan Bongino, a former senior special agent in the Secret Service who is close to Trump, his family, and top advisers, have asserted that the agency officials denied requests for more security from Secret Service supervisors on Trump’s protective detail.

    Secret Service spokesman Anthony Guglielmi denied that such a request and denial took place.

    “There’s an untrue assertion that a member of the former President’s team requested additional security resources & that those were rebuffed,” Guglielmi posted late Saturday night on X.com. “This is absolutely false. In fact, we added protective resources & technology & capabilities as part of the increased campaign travel tempo.”

    The FBI, another agency buffeted by bad publicity – in particular, evidence of anti-Trump animus at the top levels –  has taken over the investigation into the attempted assassination against Trump. Special agents of the FBI Pittsburgh Field Office responded “immediately” after the shooting, the agency said in a statement.

    “We will continue to support this investigation with the full resources of the FBI, alongside our partners at the U.S. Secret Service and the state and local enforcement,” the FBI said.

    The Secret Service lost some of its former respect after a string of fence-jumping incidents, other security lapses, and discipline issues came to light during the Obama administration. At the beginning of the Trump administration, a senior special agent in the Secret Service came under fire for suggesting in a Facebook post that she wouldn’t “take a bullet” for Trump. Kerry O’Grady, the former agent in question, was placed on administrative leave but was allowed to retire with full benefits and her security clearance intact.

    Others fired from the agency over discipline issues have lost their security clearances and at least part of their retirement benefits, spurring resentment among some in the Secret Service community.

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    The agency, more recently, has come under scrutiny for its diversity, equity, and inclusion policies after the female agent’s apparent mental breakdown at Joint Base Andrews.

    An agency spokesman called the issue a “medical incident,” but other members of the Secret Service launched a petition over the agency’s DEI hiring and vetting policies during the Biden administration, as first reported by RCP.

    Cheatle, in 2021, signed onto a new initiative to increase the number of women in the Secret Service workforce. The agency is one of numerous federal, state, and local law enforcement agencies that have signed onto the 30×30 initiative, an effort to increase the representation of women in all ranks of policing across the country to 30% of the workforce by 2030.

    In early May, Guglielmi rejected claims that the DEI policy impacted agency readiness.

    “Claims that the Secret Service’s standards have been lowered as a result of our signing this pledge are categorically false,” Guglielmi told RCP. Comer held his first briefing with Secret Service officials over that April incident on June 24. Afterward, an Oversight Committee spokesperson said the briefing was “thorough,” but “questions remain regarding recruiting, vetting, training and morale at the agency.”

    “The USSS provided the Committee on Friday a thorough briefing for staff, and we appreciate their time and ongoing cooperation as we continue to conduct oversight to ensure the Secret Service is fulfilling its mission,” the spokesperson told RCP. Questions remain regarding recruiting, vetting, training, and morale at the agency and the Committee looks forward to receiving additional information from the agency soon.”

    In addition, after the attempted assassination of Trump Saturday night, conservatives on social media blasted Rep. Bennie Thompson, the ranking Democrat on the House Homeland Security Committee, for earlier this year introducing a bill co-sponsored by several other Democrats that would have denied Secret Service protection to Trump if he were convicted of a felony. The measure never gained traction in the GOP-controlled House. The Secret Service falls under the Department of Homeland Security.

    After the attempted assassination, which killed one innocent spectator and injured at least two others, Thompson tweeted that he is “glad that the former president is safe” and is “grateful for law enforcement’s fast response.” 

    Susan Crabtree is RealClearPolitics’ national political correspondent.

    Tyler Durden
    Mon, 07/15/2024 – 18:00

  • Zelensky Suddenly Reverses, Says Russia Should Attend 2nd Ukraine Summit
    Zelensky Suddenly Reverses, Says Russia Should Attend 2nd Ukraine Summit

    With much of the globe’s eyes and international press focused on the US domestic political situation in the wake of the attempted assassination of Donald Trump, Ukraine’s President Volodymyr Zelensky has just made an unprecedented announcement.

    He said Monday that a second Ukraine peace summit should include Russian representation. It is a remarkable development that he so much as stated the possibility, even if it doesn’t actually materialize, given he’s long been vehemently against any level of negotiations with Moscow so long as Putin is still in power.

    Getty Images

    “I believe that Russian representatives should be at the second summit,” Zelensky told a press conference in Kiev, and outlined preparatory work for another summit.

    The first “Summit on Peace in Ukraine at the Bürgenstock” in Switzerland in mid-June importantly did not have either Russian or Chinese participation. While Beijing had been invited, Russia was not, and the Chinese government cited this as a reason it found the whole endeavor futile.

    Ukraine has long voiced that China will be key to any peace equation, given that it has sway with Moscow. Leaders from over 90 countries had gathered for the Swiss summit, which endorsed Ukraine’s own peace plan.

    But Ukraine’s peace formula has remained a non-starter from the Kremlin’s point of view, given it requires the withdrawal of all Russian troops from Ukraine territory.

    But Moscow has emphasized it will never give up the four territories which have been absorbed into the Russian Federation: Donetsk, Kherson, Luhansk and Zaporizhzhia oblasts.

    With this overture, Zelensky could be anticipating that it will be Trump in the White House after the November election. Trump has been vocal on the campaign trail about getting the warring sides to the negotiating table. While Trump’s team has of late touted a comprehensive peace plan, no one has actually seen it in full. 

    Meanwhile, Trump has at least one European supporter who is enthusiastic. Hungary’s Viktor Orban has said that a Trump administration provides an opening for peace.

    And days ago, Hungarian Foreign Minister Peter Szijjarto said in an interview, “I think a very strong external impact must take place in order to make them negotiate at least.” He added: “Who has the chance for that in the upcoming period? That’s only President Trump if he is elected.”

    Tyler Durden
    Mon, 07/15/2024 – 17:35

  • Don’t Expect Home Prices To Go Down Anytime Soon, Say Experts
    Don’t Expect Home Prices To Go Down Anytime Soon, Say Experts

    Authored by Mary Prenon via The Epoch Times (emphasis ours),

    As the seller’s market persists throughout most of the United States, prices continue to rise and affordable housing appears to be slipping through the fingers of the average American.

    (Illustration by The Epoch Times, Shutterstock)

    The National Association of Realtors (NAR) reported the highest ever national median sales price of $419,300 for a single-family home in May.

    “We’re actually forecasting that home prices will continue to grow based on the lack of inventory and demand for home ownership,” Jessica Lautz, NAR deputy chief economist and vice president of research, told The Epoch Times.

    A $400,000 price tag translates to a $40,000 down payment—with the usual requirement of 10 percent of the home cost.

    “That’s a lot of money for first-time homebuyers, which means sometimes they may have to borrow from parents or friends to make it happen,” Ms. Lautz said.

    NAR reported that May’s existing home sales dropped 2.8 percent from one year ago while inventory of unsold existing homes grew 6.7 percent from the previous month.

    In addition, 30 percent of homes sold garnered over-asking prices and bidding wars persist, with properties typically receiving three offers.

    Only the Midwest saw a slight uptick in home sales in May with a 1 percent increase from one year ago. The Midwest also had the lowest median sales price of $317,100—a 6 percent increase over last year.

    Existing home sales in the Northeast saw the biggest decline at 4 percent from May 2023. The median sales price rose to $479,200, up 9.2 percent from last year.

    Home sales in both the South and West declined by 1.6 percent and 1.3 percent, respectively. Median sales prices in the South were up 3.6 percent over last year to $375,300, while those in the West experienced a 5.5 percent hike from 2023 to a median of $632,900.

    First-time homebuyers are waiting longer to purchase homes. Last year the median age for these buyers was 35. Some of them are still waiting for either prices or mortgage rates to fall, but Ms. Lautz believes rates may stay between 6–7 percent through the end of the year.

    According to Freddie Mac, the current 30-year fixed rate mortgage stands at or about 6.95 percent.

    “If mortgage rates did come down significantly, that could also create more bidding wars as more buyers enter the market,” said Ms. Lautz. “I think those 2–3 percent rates were a once-in-a-lifetime experience, and I would not expect to see that again anytime soon. But if you look at rates historically, we are still at the low end.”

    Many of those who are selling their homes are making their next purchase with all cash. In fact, noted the NAR, last month 28 percent of all homebuyers did not take a mortgage.

    Construction workers work on a newly built house in Austin, Texas, on March 19, 2024. “A lot of builders just can’t afford to take on large residential development projects,” said Mr. Mendenhall. (Brandon Bell/Getty Images)

    Dutch Mendenhall, founder of RAD Diversified, a real estate investment trust based in Tampa, Florida, also believes home prices will remain stable, given the current market.

    “I don’t believe home prices are eventually going to take a large drop like they did in 2008,” he told The Epoch Times. “We have a lot more regulation now and a lot less loose lending. I don’t think we’re going to see any market crash or slowdown.”

    Echoing Ms. Lautz’s concerns, Mr. Mendenhall notes the shortfall in new construction is also contributing to the lack of inventory, which in turn, keeps home prices moving forward.

    “Higher interest rates also affect construction loans, and a lot of builders just can’t afford to take on large residential development projects,” he said. “New developments don’t drive home prices up—they create more affordable housing.”

    While escalating home costs and interest rates are resulting in homebuyers paying twice as much as they paid two years ago, people are still buying homes.

    “The most common forms of home buying are couples who have started a family, and retirees who are downsizing or moving to a new location,” he said.

    “Sales have definitely been slower during the first half of this year, but I do think the real estate market will start to move forward, as we move toward 2025.”

    Matt Willer, managing director and partner at Phoenix Capital Group Holdings, LLC in Denver, Colorado, also agrees that a “bursting bubble” is unlikely, even in this tight real estate market.

    “I think we may eventually see a modest softening in some markets, and in others maybe not at all,” he told The Epoch Times.

    Right now, Mr. Willer said, it’s all about affordability. “People got spoiled with 3–4 percent interest rates, and the mindset now is that those who don’t want to sell and repurchase with a higher interest rate are staying put and upgrading the home they have.”

    Mr. Willer believes interest rates are probably going to stay in that 6–7 percent range for the remainder of 2024 and possibly into early 2025. “I don’t think anything of substance is going to happen prior to the election, and we could see a negligible drop towards the end of the year,” he said.

    A sign is on display next to an area of the KB Home development in Petaluma, Calif., on May 2, 2024. Many first-time homebuyers are waiting for prices or mortgage rates to fall. (Justin Sullivan/Getty Images)

    Addressing the home shortage, Mr. Willer contends the building industry is cyclical, but builders are also wary of the amount of debt they carry and may not want to overextend their budgets. “I don’t see a way we can get ahead of that right now,” he noted.

    Meanwhile, the rental market is booming in many cities, as many potential homebuyers are playing the waiting game before jumping into home ownership.

    Read more here…

    Tyler Durden
    Mon, 07/15/2024 – 17:10

  • Biden Finally Gives RFK Jr. Secret Service Protection
    Biden Finally Gives RFK Jr. Secret Service Protection

    48 hours after a ‘deluded gunman‘ with no internet footprint tried to assassinate Donald Trump at a Pennsylvania rally from a nearby rooftop that should have been a layup for the Secret Service, the Biden administration is finally giving Secret Service protection to Robert Kennedy, Jr.

    “In light of this weekend’s events, the president has directed me to work with the Secret Service to provide protection to Robert Kennedy Jr.,” said DHS Secretary Alejandro Mayorkas, adding “We are in a heightened and very dynamic threat environment.”

    Earlier in the day, Trump said it was “imperative” that Kennedy be granted Secret Service protection.

    “Given the history of the Kennedy Family, this is the obvious right thing to do!” he said on Truth Social.

    Over the weekend, Kennedy security consultant Gavin de Becker told Politico that the campaign had a pending formal request with the DHS.

    Kennedy has repeatedly asked for Secret Service protection throughout his campaign for president – including after a man was arrested twice in the same day for scaling the fence of Kennedy’s Los Angeles home last October.

    Kennedy had been twice refused by DHS Secretary Alejandro Mayorkas.

    “It’s not right for the President to provide protection to his family and political favorites while denying it to political rivals. During his first week as Attorney General, my father assembled all the DOJ’s senior prosecutors to tell them that he would not tolerate any politicization of law enforcement,” Kennedy wrote on X at the time.

    The incident came roughly a month after an armed man posing as a US Marshall was arrested at a Los Angeles event. 

    Kennedy made a third request for protection in an Oct. 25 letter to Mayorkas, detailing the September 15 incident, as well as the Oct. 25 incident involving a man named Jonathan Macht.

    Mr. Macht, 28, was arrested on the morning of Oct. 25 at Mr. Kennedy’s Los Angeles property after being detained by the candidate’s security detail. He climbed a fence and asked to see Mr. Kennedy, according to the LAPD.

    Authorities said the man was taken into custody at a nearby police station where he was cited for trespassing and then released. Police said he returned to Mr. Kennedy’s home and was arrested at 5:45 p.m. for violating a protective order. He is being held on $30,000 bail.

    Mr. Macht is known to the U.S. Secret Service and Mr. Kennedy’s security Gavin de Becker and Associates (GDBA), Mr. Kennedy’s campaign said.

    “GDBA had notified the Secret Service about this specific obsessed individual several times in recent months, and shared alarming communications he has sent to the candidate,” according to the press release. –Epoch Times

    “After being released from police custody, the man immediately returned to Kennedy’s residence and was arrested again. The candidate was home at the time of both arrests,” Kennedy’s campaign said in a statement.

    Not the norm…

    While the law dictates that all major presidential candidates and their spouses must be protected within 120 days of an election, history reveals that several have received Secret Service detail much further out than that – with Obama receiving it 551 days before an election, Trump and Ben Carson receiving it a year before the 2016 election (when Trump was a ‘joke’ candidate), and Ted Kennedy receiving it 410 days before the 1979 election.

    https://platform.twitter.com/widgets.js

    Maybe they’ll do a better job than they did on Saturday, should an assassin target Kennedy.

    Tyler Durden
    Mon, 07/15/2024 – 16:45

  • Shocks To The System
    Shocks To The System

    Authored by James Howard Kunstler via Kunstler.com,

    “Trump is brushing off assassin’s bullets like dirt off his shoulder, racking up a mile long rap sheet of the fakest & gayest felonies known to man, chased through civil court by crazy-eyed harridans deranged by how horny he makes them. Joe Biden has jello for supper at 4pm.”

    –  Aimee Terese on “X”

    Dear Hitler, “Joe Biden” wrote his personal note of condolence Saturday night. 

    So sorry to hear that you were inconvenienced by loud noises in PA, where I grew up in the black church. Chris Wray tells me that fine people may be behind it. Will keep you in the loop. Get well soon!”

    Here’s some more consolation: The New York Times reports this morning that the FBI is looking into the attempt on Mr. Trump’s life as “possible domestic terrorism.” One must ask: are they trying to shed new light on this event, or just blowing more smoke up America’s ass — because that has been the FBI’s specialty for at least the past eight years. We’ll know if they take the definitive step of labeling the act a “hate crime.”

    The weakness of narrative-tweaking is beginning to show. The amazing part is that only the elite thinking class of Americans fell for it, exactly the demographic that hangs on every word in The New York Times. The Deplorables out there in Flyoverland delivering Froot Loops to the Piggly-Wiggly and driving fork-lifts around the Amazon warehouse apparently never bought the narrative bullshit generated by the Media-Blob Industrial Complex. You’d hate to suppose that thinking is overrated. Or is it just a certain kind of thinking?

    Try as you might to locate some malign, overweening, scheming cabal behind all the trips laid on our country, the truth is probably much simpler: set out on a journey defined by one lie, and then tell a lie to cover the first lie, and then another, and pretty soon you’re lying all over the place about everything until reality gets obliterated.

    This is exactly what started in 2016 when Hillary Clinton sought to cover up her email and private server scandal with the Russia collusion hoax.

    Have you forgotten how entrenched the FBI, CIA, and other agencies dug themselves in on that? It began as dumb-ass insinuation that Donald Trump was a Russian agent, but the FBI turned itself into fantasy factory when they ran with story. They manufactured one sub-plot after another, most of it comically absurd, like the entrapment of General Flynn for having a conversation with the Russian ambassador — as if foreign countries send ambassadors here for some other purpose than communicating with our government officials. Tell me, you Harvard grads who devour The New York Times every morning with your turmeric and wheat-grass detox smoothies: should an incoming White House National Security Advisor not speak with envoys from other lands?

    So, following the election of 2016, scores of government officials from Barack Obama and Joe Biden on down set out to wreck Mr. Trump’s turn in office, and ran one hoax after another to disable and dislodge him, and each hoax was a battery of lies begetting more lies. The style of thinking behind all that is called unprincipled. Many of these lies entailed crimes, some of them gigantic frauds perpetrated on the citizenry such as the ballot-stuffing operation that jammed “Joe Biden” into office — and which you were not permitted to speak of on penalty of cancellation and prosecution.

    By 2020, “Joe Biden” had racked up enough bribes from foreign lands that he was susceptible to blackmail and thus to manipulation. That his mind was failing through his entire term only made that easier. Both “Joe Biden” and the Neocon gang at State and the CIA were implicated in a web of crimes in Ukraine, and war there was one way to cover all of it up, so they made sure that war happened. The lies and hoaxes continued to multiply, accompanied by huge, destructive pranks — the George Floyd riots, the drag queens in the kiddie classrooms, the wide-open border, the FBI-instigated J-6 riot — and the Democratic Party was embroidered in that whole tapestry of degenerate politics along with the Deep State blob.

    In short, the Democratic Party appears to be guilty of programmatic treason against the people of the United States.

    They know that a reckoning awaits if Mr. Trump manages to return to office.

    They’ve known it for years.

    But two recent Supreme Court decisions really amped up their fears:

    1) Trump v. the United States establishes presidential immunity from prosecution for acts involving his core constitutional duties;

    and 2) Loper Bright v. Raimondo establishes that the federal bureaucracy can no longer rule over citizens unchecked by the courts.

    Both of these would make it much easier for a President Trump to disassemble the Deep State.

    And of course, that may lead to the investigation and prosecution of Deep State personae who abused their positions — possibly even prison. . . a discomfiting prospect.

    The Democratic Party’s cover got blown on June 27th when Joe Biden had to go live in a debate and displayed his mental incompetency for all to see. That shock to the system forced a scramble to replace “JB” pretty late in the election cycle, since now just enough voters may be indisposed to re-electing an obvious human wreck. But the switcheroo effort seems to have lost traction. And the party may have muffed its blackmail leverage over “Joe Biden.” After all, his briberies are all well-cataloged by the House Oversight Committee, including the vast bank records of the many shell companies set up to receive the bribe money.

    Is it possible, though, that “Joe Biden” holds blackmail material over his party confederates? After all, he’s still President. He has access to things you’d never dream of and, demented as he is, he has plenty of help close at hand from Hunter, Dr. Jill, and the Lawfare posse for sorting it out. He probably knows a thing or two about his old pard Barack Obama, too, that would make some folks uncomfortable. So, looks like “JB” is fixing to hang in there as his party’s nominee, and whoever doesn’t like it can go suck an egg.

    After the stunning events of Saturday evening, it also looks like candidate “Joe Biden” would go down in flames against Donald Trump on November 5, stuffed drop-boxes and all. Not a few Democratic Party bigshots have already made noises about leaving the country if that happens, possibly to nations lacking extradition treaties with the USA. Many others must be gobbling Xanax like Tic Tacs now that Donald Trump has survived the ultimate affront to his existence.

    You know the old nugget of wisdom: if you come at the king, you better not miss.

    Ooops.

    *  *  *

    Support his blog by visiting Jim’s Patreon Page or Substack

    Tyler Durden
    Mon, 07/15/2024 – 16:20

  • Trump'd: Gold & Crypto Soar, Yield-Curve Dis-Inverts As Small-Caps Crush Big-Tech Again
    Trump’d: Gold & Crypto Soar, Yield-Curve Dis-Inverts As Small-Caps Crush Big-Tech Again

    The ‘Trump trade’ played out today…

    Source: Bloomberg

    …as prediction markets surge in the former president’s favor…

    Source: Bloomberg

    Trump’s media stocks soared…

    All the major US equity indices were higher today with Small Caps absolutely ripping and S&P and Nasdaq meh…

    The outperformance of the Russell 2000 over Nasdaq 100 over the past three days is outdone only by the moves made in March 2001 as the dotcom bubble imploded…

    Source: Bloomberg

    The almost 800bps spread is on par with events such as Lehman (Oct 2008), Trump Election (Nov 2016), and Biden election (Nov 2020).

    Goldman’s treading desk noted that overall activity levels are up +25% vs. the trailing 2 weeks with market volumes up  +4% vs the 10dma, as their floor tilts -1% better for sale,  with both HFs and LOs tilted that way

    • HFs skew -9% better for sale, tilted that way in every sector except Materials & Industrials.  Supply is most concentrated in Energy & Staples where short supply is most prevalent.  Tech, Fins, HCare and Cons Disc also net for sale, but mostly long supply

    • LOs are -4% better for sale, as every sector ex-Fins, Energy & Macro Products tilts that way.  Supply is heavily concentrated in Disc, HCare & Utes with more modest profit taking in Mega Tech

    Energy stocks outperformed and only rate-sensitive Utes were dumped today (and in that context, Real Estate was stronger than expected – Trump?)…

    Source: Bloomberg

    Treasury yields were all higher today but with a notable underperformance at the long-end (30Y +6bps, 2Y unch) which has dragged the long-end basically back to unchanged since CPI (juiced by the Trump trade too) as the short-end doves it up….

    Source: Bloomberg

    The yield curve (2s30s) disinverted for the first time since January (which some also look at as driven by a ‘Trump’ bet)…

    Source: Bloomberg

    Rate-cut odds shifted dovishly for 2024 today (66bps now priced in  – so a 50-50 chance of 3 cuts by year-end), while Powell’s comments prompted some hawkishness for 2025 (looks like Trump odds just bringing fwd cuts)….

    Source: Bloomberg

    Bitcoin soared after Trump’s assassination survival (as the crypto-friendly candidate)…

    Source: Bloomberg

    Ethereum also rallied and was juiced a little by today’s chatter that ETH ETFs will launch tomorrow, which lifted it back from the weekend’s underpeformance relative to BTC…

    Source: Bloomberg

    Gold surged back up near record highs today…

    Source: Bloomberg

    Despite energy stocks’ gains, oil prices slipped lower today (drill, baby drill; less geopol risk?)…

    Source: Bloomberg

    Finally, as we detailed here, US equity futures traders have never, ever been ‘longer’ than they are now…

    What could go wrong?

    Source: Bloomberg

    Don’t worry though, it’s different this time.

    Tyler Durden
    Mon, 07/15/2024 – 16:00

Digest powered by RSS Digest

Jul 15

Today’s News 15th July 2024

  • China's GDP Growth Unexpectedly Tumbles As New Home Prices Plunge Most In 9 Years
    China’s GDP Growth Unexpectedly Tumbles As New Home Prices Plunge Most In 9 Years

    China’s economic growth collapsed to just 4.7% YoY in the second quarter, missing all but one economist’s forecast, as the world’s second largest economy is slowly but surely grinding to a halt (absent a bazooka stimulus).

    GDP, which rose 5.3% in the first quarter, had been expected to rise 5.1% based on economists polled by Bloomberg; instead growth slumped to just 4.7%, the lowest growth since March 2023.

    In sequential terms, GDP fell to 0.7% QoQ in Q2 from 1.5% in Q1. Industrial production growth remained solid at +5.3% yoy in June, despite a moderation from +5.6% yoy in May, thanks to strong export growth.

    China has grappled with weak consumer demand and a prolonged property slowdown, prompting greater intervention from policymakers in recent months, but in the absence of a bazooka stimulus – both fiscal and monetary – it is unlikely that anything will change and growth will continue to cool quarter after quarter, until there is a brutal recession and/or civil unrest.

    Elsewhere, industrial production rose 5.3% in June, slightly above expectations of 5.0% but below the 5.6% increase in Q1, while retail sales rose just 2.0% missing expectations of 3.4% by a wide margin and in line with sluggish tourism revenue growth during the Dragon Boat Festival and the soft 618 Online Shopping Festival. Fixed Investment rose 3.9%, right on top of reduced expectations, and reflecting the tug-of-war between policy support, adverse weather conditions and still-depressed property investment.

    Separately, new home prices in China fell 4.9% year on year last month, the fastest pace of decline in nine years, according to Bloomberg calculations, while new construction starts and property investment were down 23.7% and 10.1%, respectively, in the first half of the year.

    According to Goldman, taking Q2 GDP and June activity data together, “domestic demand remained sluggish despite strong exports, and more policy easing is necessary through the remainder of this year, especially on the fiscal and housing fronts.”

    The data release came as the Chinese Communist party’s Central Committee on Monday launched its third plenum, a four-day meeting in which the country’s leadership is expected to set the direction of economic policy. The last such event was held in 2018.

    Beijing has set a full-year economic growth target of about 5%, and unless Beijing launches a bazooka stimulus, it has precisely zero chance of hitting it.

    Tyler Durden
    Sun, 07/14/2024 – 23:30

  • Escobar: The Yemen-Russia Riddle
    Escobar: The Yemen-Russia Riddle

    Authored by Pepe Escobar via The Cradle,

    Sanaa is eagerly engaging with Moscow in a bid to expand its astounding military gains into both the economic and diplomatic realms. While trade with Russia may be integral to blunting the effects of the siege of Yemen, Sanaa also views membership in the BRICS as a ‘golden opportunity’ to establish lasting Persian Gulf security.

    Yemen’s stellar strategic maneuvering in defense of Palestine from its dramatically ascendant role in West Asia’s Axis of Resistance is acquiring the contours of an epic odyssey – eagerly scrutinized by the Global Majority.  

    As if the unprecedented humiliation of the US Navy in the Bab al-Mandab and the Red Sea was not enough, Ansarallah targeted an Israeli ship with a Hatem-2 hypersonic missile, a remarkable advancement in indigenous technological development.

    These prodigious strategic-military advances displayed by Ansarallah at the same time revived the always simmering, unfinished war and blockade launched against Yemen in 2015 by Saudi Arabia and the UAE with the usual US and UK backing.

    Riyadh abhors the Yemeni resistance like the plague. Instead of Sanaa, Yemen’s recognized capital city, it supports an anti-Ansarallah’ government’ sitting in Aden, sort of recognized by the ‘rules-based international order.’ In truth, though, that government actually sits in a luxury Riyadh hotel.

    Ansarallah has tried hard to negotiate a prisoner exchange involving captured Saudi pilots traded for jailed Hamas members in Saudi Arabia. Riyadh has not only refused but threatened that bank transfers to and from Yemen would be blocked, and Sanaa’s international airport and sea ports would be shut down.

    Ansarallah’s response was stark: if Yemeni banking is blocked, the Saudi Arabian banking system would be destroyed. If Sanaa airport is targeted, the same would happen to Saudi airports.

    So, the war that never ended is suddenly and ominously back on track. Ansarallah would have no problem targeting Saudi Arabia’s oil production as retaliation to a full blockade – considering its proven capability with brand-new missiles and naval drones. The consequences for global oil markets would be catastrophic.  

    Two delegations come to Moscow…

    Yemen represents the classic case of a fierce resistance actor in the context of the emerging multipolar, multi-nodal world. So that begs the question of where multipolar/multi-nodal champion Russia stands when it comes to Yemen’s fight.  

    Which brings us to the fascinating case of two Yemeni delegations that recently visited Moscow.

    One of them, led by a senior Ansarallah official, met in Moscow with the Russian President’s Special Envoy to the Middle East (West Asia) and Africa, Mikhail Bogdanov.

    They discussed not only the ongoing Gaza genocide but also what Ansarallah describes as “the American–British aggression on Yemen,” a reference to ongoing western naval operations in the Red Sea that have – unsuccessfully – sought for months to thwart Yemeni ops against Israel-bound and Israel-associated shipping vessels. A retaliatory siege, if you will.

    The Yemenis reassured the Russians that their maritime operations “do not pose a threat to international navigation or target anyone, but rather support the Palestinian people and respond to the American and British airstrikes on Yemen.” Ansarallah praised Russia’s understanding and expressed gratitude for: 

    Russia’s position against the American–British aggression on Yemen and their support for the humanitarian and political process in our country. We also reviewed the outcomes of the de-escalation efforts between Yemen and the aggressor countries and highlighted the necessity of reaching a comprehensive solution that ensures Yemen’s unity and sovereignty.

    All of the above concerns what could be described as the Yemeni political process delegation. In Oman, while waiting to collect their Russian visas, they crossed paths with another Yemeni group: let’s call it the geoeconomics delegation.

    This delegation was led by Dr Fouad al-Ghaffari, special advisor to Yemeni Prime Minister Dr Abdulaziz Saleh bin Habtoor’s National Salvation Government in Sanaa.

    Habtoor is a leading Yemeni intellectual and the author of the remarkable Undeterred: Yemen in the Face of Decisive Storm, which highlights key details of the war launched in 2015 “by a hostile coalition of 17 countries,” fully supported by the US and the EU, and complete with air, sea, and land blockades.

    The prime minister explains the economic war, as the Yemeni Central Bank was transferred to Aden; the biological war, which led to a horrendous break out of cholera across the nation; and how the Arab League was bought and paid for all the way. He stresses how “this is the first war in History in which all the rich Arab countries stand together under the cloak of the most powerful imperialist country in an unsacred coalition against the poorest country in the Arabian Peninsula.”  

    That war is far from over. Yemen is suffering badly. The specter of a large famine has not disappeared. So, the focus of Dr Ghaffari’s delegation clearly had to be humanitarian and centered on food security.  

    He tells The Cradle what Yemen expects to receive from Russia’s Ministry of Agriculture: 

    We have food to export and import from Russia. We should have a shipping line between Russia and Yemen at Hodeidah port. Last month, another Yemeni delegation was in China. There were good contacts, and they are now developing an agreement. Here, I came as an adviser to the Prime Minister, and parallel to the Russian presidency of BRICS, I came to highlight the importance of developing an agriculture connection – and food security connection – between us and Russia. We need Russian expertise on all this. We have special products in Yemen that we want to export – and now we are fighting a boycott by the US and the west. We want Russian products instead of products coming from Europe.

    Ghaffari adds, “Some Russian products do come to Yemen – but they don’t come directly. They come from Gulf countries or African countries. But not as Russian products. In Yemen, there are no Russian products. Now, after 96 years of Russia–Yemen relations, Yemen is defining itself as a good player in our region. It’s a time for BRICS to unite – and to fight back against the US model.”

    Yemen’s BRICS drive

    Dr Ghaffari further explains what, in effect, breaks down as the possible geoeconomic integration of Yemen: 

    We had good signs from official contacts, and the Prime Minister in Yemen welcomes that. The objective is to close a deal with Moscow. We have a vision. We want to explain this vision of how to bring the North and South of Yemen together into one railway. This brings us back to 15 years ago when Russian Railways had a project. We bring oil, gas, [and] agriculture investment to seaports. Maybe Yemen could do that by itself in 50 years, but with good help, we can do it in one or two years.

    He says a long discussion was also held in Moscow on Yemen’s desire to apply for BRICS membership – and the pitfalls involved:

    We have been working close to BRICS for 10 years in Yemen, because we believe in this vision, if we have a chance to become a member. I am the only adviser to the Prime Minister for BRICS advancement. We want to work with BRICS. We now have a golden opportunity.

    The prime minister’s office in Sanaa has sent letters to the Russian Ministry of Foreign Affairs expressing its desire to join BRICS. If these contacts develop, Moscow could certainly invite Sanaa to participate as an observer in the BRICS summit in Kazan in October. 

    But does the recent BRICS membership of Saudia Arabia and the UAE create an instant obstacle in Yemen’s pathway to joining the multipolar powerhouse?

    Ghaffari doesn’t seem to think so, linking Yemen’s BRICS drive to establishing “security in the Gulf. The Emirates and Saudis are now in BRICS. BRICS could take all of us together.”

    So Dr Ghaffari’s delegation visited Russia with several objectives: to study the opportunity of establishing a joint agricultural company, to discuss import and export opportunities and shipping methods, to discuss cooperation within the BRICS strategy for economic partnership in agriculture, to learn about the Russian experience in boycotting western products; to introduce the specificity of Yemeni products, especially coffee, honey, and cotton into the Russian market, and to discuss the construction of one of the Yemeni dams.

    Add to this a key diplomatic objective: to discuss the possibility of a Yemeni representative attending the upcoming BRICS summit. “We stand with Russia. Russia should have a complete picture of what happens in Yemen. If Yemen is not at the summit, something would be missing in the region.”

    Moscow, Beijing, and Tehran would certainly agree. But then hardcore geopolitical reality calls. The Russian Federation, forced to protect an extremely delicate geopolitical balance between Iran and Saudi Arabia inside BRICS, may still be far from solving the Yemen riddle.

    Tyler Durden
    Sun, 07/14/2024 – 23:20

  • Chinese Regulators Intensify Efforts To Tighten Control Over Financial Markets
    Chinese Regulators Intensify Efforts To Tighten Control Over Financial Markets

    By Charlie Zhu and Helen Sun, Bloomberg Markets Live reporters and strategists

    Three things we learned last week:

    1. Chinese regulators intensified efforts to tighten their control over financial markets. The People’s Bank of China effectively narrowed its interest rate corridor, placing a much higher floor on the costs banks pay to borrow overnight from each other.

    For longer-term bond yields, local branches of the National Financial Regulatory Administration asked some rural lenders to shorten the average duration of their bond holdings, joining the PBOC’s recent efforts to prevent yields from falling further.

    For stocks, the securities watchdog took some of its most extreme measures yet to restrict short selling and quantitative trading strategies, providing a boost to some of the key indexes.

    While recent policies have their respective rationale, they could come at long-term or macro economic costs, according to Nomura Holdings Inc. Measures to control the yield curve might mitigate financial risks, but weak domestic demand need lower interest rates to stimulate borrowings, economists at Nomura wrote in a report last week.

    China’s financial industry has already been reeling from slower growth and regulatory crackdowns. Ping An Bank Co. is relocating more than 100 staff based in Shanghai to its Shenzhen home base to cut costs, while PricewaterhouseCoopers LLP is cutting staff across its China operations amid an exodus of corporate clients.

    2. Domestic demand remains week despite efforts to stimulate consumption. The consumer price growth hovered near zero for a fifth month, with the statistics bureau attributing it to promotions for the annual “618” shopping festival.

    “The deteriorating labor market will limit the potential for any quick and sustained recovery in consumption and hence inflation,” economists led by Zhou Yingke at Barclays Plc wrote in a report.

    Meanwhile, credit expansion also missed estimates. Exports in June jumped more than expected, highlighting the importance of external demand in underpinning China’s economy. Together with weak imports, the country registered a record trade surplus.

    3. Baidu’s tests of unmanned auto driving have reminded people the future has arrived. China’s Internet search leader is investing in generative AI and autonomous driving to diversify its business. With Beijing supporting robotaxis in ride hailing and car rental fleets, Baidu’s shares in Hong Kong posted the biggest weekly gain in more than one-and-a-half years.

    Tyler Durden
    Sun, 07/14/2024 – 22:50

  • Former CDC Director Says FDA Underreported Adverse Vax Side Effects To Prevent Vaccine Hesitancy
    Former CDC Director Says FDA Underreported Adverse Vax Side Effects To Prevent Vaccine Hesitancy

    Authored by Debra Heine via American Greatness,

    Dr. Robert Redfield, the former director of Centers for Disease Control and Prevention (CDC) said Thursday that the U.S. Food and Drug Administration (FDA) pushed a false “safe and effective” COVID vaccine narrative by underreporting adverse events. The mRNA shots “never should have been mandated,” Redfield told the Senate Committee on Homeland Security and Governmental Affairs Committee on Thursday.

    The Democrat-controlled Senate oversight hearing entitled “Risky Research: Oversight of U.S. Taxpayer Funded High-Risk Virus Research,” included witnesses  Dr. Gerald Parker, Dr. Carrie Wolinetz, Dr. Kevin Esvelt, and Redfield.

    Former President Trump’s CDC director accused the Biden government of suppressing data about vaccine injuries in an effort to prevent vaccine hesitancy.

    “There was not appropriate transparency from the beginning about the potential side effects of these vaccines, and I do think there were inappropriate decisions by some to try to underreport any side effects because they argued that would make the public less likely to get vaccinated” Redfield testified.

    Redfield said the biggest mistake of all was the Biden regime’s decision to mandate the mRNA products.

    “They never should have been mandated,” he said. “It should have been open to personal choice. They don’t prevent infection, they do have side effects.”

    A growing number of doctors and scientists now say that the cost to society and the cost to the individual taking the COVID injection far outweighed any of the proposed benefits.

    Senator Ron Johnson (R-Wis.) pointed out that Biden regime officials like Dr.  Peter Marks, head of the FDA’s Center for Biologics Evaluation and Research, continue to deny that the injections are dangerous.

    “They’re saying they [vaccine side effects] are rare and they’re mild,” Johnson said.

    “The FDA should release all of the safety data they have,” Redfield replied. “I was very disappointed to hear that they’re planning to hold on to that [safety data] until 2026,” he continued. “That really creates a sense of a total lack of trust in our public health agencies toward vaccination. It’s counterproductive,” he added.

    Johnson lamented that he has been unable to get Rep. Gary Peters (D-Wis.), the chairman of the the Senate Homeland Security Committee, to issue any subpoenas to the relevant health agencies to obtain the safety data.

    “I would suggest you do that,” the Republican told Peters.

    Johnson was poised to spearhead investigations into COVID vaccine malfeasance himself as Chair of the Permanent Subcommittee on Investigations starting in 2023, but Republicans did not gain the majority in the 2022 midterm elections.

    The Wisconsin senator said there’s “a lot more” being covered up than the COVID origin story.

    “There are many aspects of our miserably failed response to COVID that needs to be uncovered, not the least of which, the sabotage of early treatment,” Johnson said. “The public has a right to know.”

    Tyler Durden
    Sun, 07/14/2024 – 22:45

  • Project 2025 & The Continued Democrat Meltdown
    Project 2025 & The Continued Democrat Meltdown

    Authored by Richard Truesdell and Keith Lehmann via American Greatness,

    Tying Donald Trump to Project 2025 is the latest desperation tactic from Democrats. But it’s likely to backfire. It might actually create a new generation of Conservatives in the process.

    Last year, the Heritage Foundation published the Mandate for Leadership as assembled by a consortium of people and think tanks called Project 2025. It is a compilation of long-standing recommended Conservative policies for the next Republican administration. The Project 2025 group claims the document is “the Conservative movement’s unified effort to be ready for the next Conservative administration to govern at noon, January 20, 2025.”

    It absolutely petrifies progressive Democrats.

    Looking at a portion of the 900+ page compendium, we note that it contains policy suggestions that have been embedded within the Conservative platform for over sixty years. We also note that proclamations from right-leaning think tanks such as the Heritage Foundation are routinely attacked from the left as being “radical” in nature and “out of touch” with ordinary Americans. This is nothing new. The left and progressives, especially, see this as the latest bogeyman to motivate the base as the Biden candidacy spins out of control.

    What is new here is the odd tactical decision of the Biden-Harris campaign to demonize the Heritage Foundation and tie the organization’s work to Donald Trump, who has nothing to do with Heritage and had no participation with Project 2025. It’s quite doubtful Trump even knew about Project 2025 until the Biden-Harris campaign decided it would characterize it as “Donald Trump’s Project 2025 Agenda” as “something every American should be scared of.”

    When we first saw references to Project 2025 appear, we knew that it was not organic. When all the usual suspects—MSDNC, CNN, the New York Times, the Washington Post, Axios, Politico, NPR, Media Matters for America, and dozens of those image memes flooding your timeline on Facebook—we knew it was no accident. As we like to say, there are no coincidences in partisan politics.

    Calling this “Donald Trump’s Project 2025 agenda” is yet another droplet in the endless ocean of lies from the Biden administration and its leftwing enablers. Here is another example of the obvious disinformation coming from the left (hit the link to see how remarkably unhinged these people are).

    While some of the points are true (i.e., ending the Department of Education, using public funding for private religious schools, increasing Arctic oil drilling), over 90 percent of these claims are outright lies, many of which are not even mentioned in the document. Project 2025 responded to this with an enumerated list of 30 “myths vs. facts.”

    This attack on Project 2025 and the attempt to connect their agenda to Trump seem to have a very strange appeal to ignorant Biden-Harris voters. Previously, hardly anyone, even among Republican and Conservative political junkies, had even heard of the Heritage Foundation, a relatively low-key, center-right institution that has never been considered a radical fringe organization. A vast majority of Americans are now hearing about Heritage for the first time.

    What might actually emerge is a broader awareness of the Heritage Foundation and its Conservative work among citizens who would not have otherwise found out if the Biden-Harris campaign had not made such a huge stink. The curiosity of voters will drive them to check out Project 2025, in which they will find five primary policy pillars intended to restore the Constitution as the country’s primary governing guide. We have distilled the five massively detailed policy proposals as follows:

    First, and arguably most important, “The president must enforce the Constitution and laws as written, rather than proclaiming new ‘law’ unilaterally. Legislatures make the laws in a republic, not executives.” (With the SCOTUS controlled by its current Conservative majority, this is downright scary to far-left progressives.)

    Second, “We must rediscover and adhere to the Founder’s wise division of war powers, whereby Congress, the most representative and deliberative branch, decides whether to go to war; and the executive…decides how to carry it out once begun.” Our multi-generational experimentation in presidentially initiated wars demonstrates that “we depart from our Constitutional design at our peril.” Over the vast majority of our history, especially in the 20th century, it was a Congressional Declaration of War that had the United States enter World War Two, not a Presidential Declaration of War.

    Third, the president and the State Department must “stop skirting the Constitution’s treaty-making requirements and stop enforcing ‘agreements’ which haven’t been ratified by the Senate as the Constitution requires, as if they were proper treaties.” Republicans as well as Democrats are guilty of this. Is it any wonder that no new wars were started during the four years of the first Trump administration?

    Fourth, “The Senate has been extraordinarily lax in fulfilling its constitutional obligation to confirm presidential appointees.” This results in unconfirmed, “acting” officials carrying out executive-branch responsibilities for months or years without Senate approval. Not to hold Democrats totally to blame here, the Senate ceded its war-making powers to the Executive Branch, starting with George W. Bush and continuing through the Obama and Biden administrations. Our growing involvement in the Ukraine conflict serves no real United States policy agenda other than to keep deep state warmongers like Victoria Nuland happy under Republican as well as Democrat administrations.

    Fifth, the Justice Department must “respect the constitutional guarantee of freedom of speech rather than try to police speech.” Oh my God, where do we start here? The encroachment on the First Amendment started under Bush with the Patriot Act in the aftermath of 9/11 and has accelerated since then, especially under Obama and Biden. Biden’s Department of Justice especially has used deep state violations of its police powers against ordinary citizens, like many of the J6 demonstrators as well as journalists who neglect to toe the administration’s line.

    Each of these five points is a cap, not an expansion, of presidential power. The Biden-Harris campaign making such an effort to characterize Project 2025 as enabling a presidential power grab is a classic case of projection.

    Tying Trump to Heritage is a losing proposition, indicative of a campaign in desperation to change the subject from their complete and total meltdown in the wake of Biden’s catastrophic performance in the first debate and his subsequent interview with former Bill Clinton operative, George Stephanopoulos. It will backfire as expected and could lead to a broadening of acceptance toward Conservative principles among the American population.

    Keep up the good work, Democrats!

    ***

    Richard Truesdell is a former consumer electronics retail executive and automotive travel photojournalist. In the last 25 years, he has visited more than 35 countries on six continents. A former high school history teacher with a BA in Political Science from Waynesburg University, he is a lifelong Conservative moderate who has turned his thoughts and keyboard to political commentary and popular culture. A cross-section of his writings can be found here.

    Keith Lehmann is a retired consumer electronics industry executive who has written extensively on technology, transportation, and international travel. Living in Southern California for over fifty years, he has first-hand exposure to societal and cultural happenings of the left and submits decidedly realism-based, Conservative viewpoints, much of which can be found on his Substack.

    Tyler Durden
    Sun, 07/14/2024 – 22:10

  • Mapping High School Graduation Rates By State
    Mapping High School Graduation Rates By State

    A high school diploma not only represents the development of essential knowledge and skills but is also a critical step toward personal and professional growth.

    This graphic, via Visual Capitalist’s Bruno Venditti, shows the percentage of public school students who graduate with a regular high school diploma in each U.S. state. Data is sourced from the U.S. Department of Education, National Center for Education Statistics, for the school year 2021–22.

    West Virginia Has the Highest Graduation Rate

    The U.S. average high school graduation rate was 87% in the school year 2021–22.

    West Virginia has the highest graduation rate, with 91% of its students graduating. Meanwhile, the District of Columbia has the lowest graduation rate, with 76%.

    State Percentage
    West Virginia 91
    Tennessee 90
    Wisconsin 90
    Kentucky 90
    Massachusetts 90
    Iowa 90
    Missouri 90
    Texas 90
    Virginia 89
    Kansas 89
    Connecticut 89
    Mississippi 89
    New Hampshire 88
    Delaware 88
    Utah 88
    Alabama 88
    Arkansas 88
    Indiana 88
    Florida 87
    Illinois 87
    Pennsylvania 87
    Nebraska 87
    California 87
    New York 87
    North Carolina 86
    Maryland 86
    Ohio 86
    Maine 86
    Hawaii 86
    Montana 86
    New Jersey 85
    North Dakota 85
    Georgia 84
    South Carolina 84
    Minnesota 84
    Washington 84
    Rhode Island 83
    Louisiana 83
    Vermont 83
    Colorado 82
    Wyoming 82
    Nevada 82
    Oregon 81
    Michigan 81
    Idaho 80
    Alaska 78
    Arizona 77
    District of Columbia 76
    New Mexico Not available
    Oklahoma Not available

    Given that West Virginia typically struggles in rankings like this, this top placement might be surprising to some. This high graduation rate is part of a concerted effort by the state to increase its graduation rate.

    In 2011, West Virginia’s graduation rate sat at 72% (which would put them dead last by today’s standards). How did the state see such a significant improvement? A data-driven early warning system was put in place to target individuals when they are at most risk of dropping out and using interventions to keep them on pace to graduate.

    Alabama, also an early adopter of this system, saw a steep improvement in their graduation rate over the past decade and a half.

    If you enjoy posts like these, check out Mapped: Personal Finance Requirements by State, which visualizes where high school students are required to take a personal finance course.

    Tyler Durden
    Sun, 07/14/2024 – 21:35

  • Property Tax & The Death Of The American Dream
    Property Tax & The Death Of The American Dream

    Via SchiffGold.com,

    While the primary catalyst for the original English pilgrims to venture to America was religious freedom, a strong desire for independence followed closely behind. They desired to be independent of two things: poverty and government meddling. This spirit carried into the American Revolution and informed domestic policy for many years. The Homestead Act of (FIND YEAR) was enacted to allow citizens a type of independence those who first fled Britain could only dream of. Remote settlers earned their own homes by proving their merit to Mother Nature. It was fairly easy to live as one wished without violating rules and regulations. The law was a fairly small framework that attempted to allow lives free from violence and evil. The two curses they fled were now powerfully refuted. The poverty caused by government oppression of the past was replaced by success or failure based upon individual action. 

    While poverty enabled and created by tyranny guided pilgrims to leave, it was no easy road in the new land. Settlers often dealt with great hunger and lack because they knew it was better than the guaranteed squalor they would have faced in Europe. Americans had to bet on their futures using their competence and capabilities. They received the fruits of their labor and often lived far better than they could have before. The American government was in place to protect their ability to live a private life in which they received the benefits of their labor.

    The whole American vision was built upon delayed gratification. There was no guarantee that a homesteader’s crops would thrive in any given year. Individuals who were less competent were forced to settle for a life that, while far better than before they emigrated, was below the standard of other more competent settlers. Homesteaders who wanted to fill their stomachs in winter would find they had no seed to plant in the spring. Months and years of hardship were endured to secure ownership and the ability to rest.

    The government’s primary role was to protect people against anyone who desired to intrude on their hard-earned peace, whether foreign nations or malicious citizens. People worked for security and the ability to give their children security. Land was a constant investment that directly reflected its developer’s work ethic and rewarded their competency. Unlike in Europe, land was very accessible to the common man. Rather than working for lords and barons, land distinguished Americans and allowed them to work for themselves.

    At the beginning of the 19th century, property taxes were small, primarily by the acre, and did not rise often. As administrative bloat and government corruption grew, property taxes gradually grew and morphed into something powerful and harmful to the core of the American dream. Property taxes became not just on the acre, but also on the valuation of the property. In some states, this tax is higher than 2% yearly. A 500,000$ house, a great deal in many locations, would force the owner to pay over 10,000$ yearly just to live on the land that they own. In complete opposition to the vision of the past, inflation and increasingly high valuations mean that as time goes on, landowners will be forced to work more just to make ends meet.

    If a family worked hard to make a life on a humble piece of land and became surrounded by a luxury housing development, the resulting higher valuation would drive them to live somewhere else. This incentive to move shifts Americans towards a consumer culture rather than a culture of creation. There is less reason to put effort into any piece of land or community if an indeterminate amount of “rent” must be paid every year. That “rent” used to be primarily the sweat of the brows of the owners of that land as they worked tirelessly to cultivate it.

    That vision has been replaced and land seems more like a luxury for the ultra-wealthy than any meaningful part of the American identity. Even small bits of land are not often loved and held for long. Moving constantly has become a favorite pastime of many families as they cannot seem to escape high taxes and inflation. Families continually downsizing or moving to other states cannot be sustainable as a national strategy. We must either make urban living far more appealing or face many families forced to choose between unappealing apartments or paying through the nose for ever-smaller houses. Property taxes exacerbate the attack on the root of American identity.

    Tyler Durden
    Sun, 07/14/2024 – 21:00

  • The Number Of Global Millionaires Keeps Rising
    The Number Of Global Millionaires Keeps Rising

    In its latest annual report, Swiss bank UBS shows that while there has been a mixed picture in the development of global wealth inequality, the number of dollar millionaires worldwide keeps on rising and is projected to continue to do so in most countries. Out of the 56 nations in UBS’s sample, millionaire numbers are projected to increase until 2028 in 52 – sometimes substantially. Notable exceptions are the Netherlands and the United Kingdom. In the latter country, there will be a projected 17 percent – or around 500,000 – fewer millionaires in 2028 than in 2023.

    As  Statista’s Anna Fleck shows in the following chart, the number of U.S. dollar millionaires has risen sharply since the beginning of the 21st century.

    Infographic: Number of Millionaires Keeps Rising | Statista

    You will find more infographics at Statista

    In 2000, there were 14.7 million millionaires in the analyzed countries. In 2023, there were 58 million – a fourfold increase in twenty years (300 percent).

    If we compare this figure with the fight against extreme poverty, the number of people below the global poverty line – which today stands at $2.15 a day – has declined at a much slower rate.

    At the turn of the century, there were 1.7 billion people living in extreme poverty, compared with around 700 million today, a drop of around 60 percent.

    The United States is home to by far the largest contingent of dollar millionaires: 22 million in 2023, representing 6.6 percent of the country’s population.

    Next on this list is China with 6 million (0.4 percent of the population), while France completes the podium with 2.9 million (4.2 percent of the population). China saw millionaire numbers rise especially fast since 2000.

    Tyler Durden
    Sun, 07/14/2024 – 20:25

  • Is The USD Really Too Big To Fail?
    Is The USD Really Too Big To Fail?

    Authored by Matthew Piepenburg via VonGreyerz.gold,

    Between politics (driven by self rather than public servants), markets (driven by debt rather than profits) and currencies (diluted by over-creation rather than chaperoned by a real asset), it is fair to say we live in not interesting but surreal times.

    But amidst the surreal, the dollar, as many believe, is our rock, our immortal albeit often unloved constant.

    The USD: Too Big to Fail?

    Whatever one thinks of the dollar, we can’t deny its centrifugal force, exorbitant privilege and entirely unequaled market power (from the current SWIFT and Eurodollar systems to the derivative and petrodollar markets).

    And even as broken, debased, inflated (and inflation-exporting) as the USD is, its place as a world reserve currency (with 80%+ of global FX transactions) is firm.

    More importantly, the USD is a currency (base money) that only the Fed can print into existence and which the rest of the dollar-thirsty and dollar-indebted world (i.e. Eurodollar markets) can only lend into existence (like a second derivative credit currency) in a perpetual dollar-roulette of “debt and print” or “debt and lend.”

    This effectively makes the USD the world’s base money (and denomination) for the vast majority of derivative global debt instruments, which means everything else (including Eurodollar lending) is essentially just credit-related.

     And because credit makes the $330T debt-world spin, the USD, by extension, makes the world spin.

    In short, one might argue the USD is too big to fail, right?

    The Immortal Greenback?

    Given the baked-in global demand and credit role for this otherwise diluted super-dollar, the national and global system which it has ruled since 1944 will thus likely and only end (save for a miraculously peaceful Plaza Accord 2.0) in some form of what Brent Johnson rightfully described as “profound violence—economic and/or military.”

    But according to the dollar bulls, even a collapsing system and, hence, tanking US bond market, would send UST yields to the moon and, hence, the USD (ironically) even higher. 

    In short, no matter how some spin it—the dollar is king, and every central banker in DC knows this, right?

    After all, such dollar realists have discovered the hard truth through the lens of realpolitik global finance: The dollar, love or hate it, is the base money of the global financial system and, as such, will be “the last to fall.”

    Gold Backing? 

    As for any return to a gold-backed dollar, those same realists would remind us of the infamous 1896 “Cross of Gold” case laid out by William Jennings Bryan, who warned that with a dollar tied to gold, credit would eventually tighten to such levels that the average citizen and small business would be left bleeding credit-dry in the streets.

    Furthermore, there’s the equally realistic stance that no country would want to be tied to a gold chaperone (or “standard”) for long, as this would only impede their sovereign ability to mouse-click their own currencies into existence when needed (i.e., whenever backed into a self-created debt wall).

    Money, and hence the USD, they ruefully conclude, will therefore be whatever the strongest country (bully) on the block says it is, and like it or not, the US and USD are still flexing the strongest biceps in the global neighborhood, right?

    Assuming Nothing (or History) Ever Changes

    But each of the foregoing (and reasonable) conclusions only hold true if one assumes that the US is and remains the strongest bully (and money) on the block.

    The evidence of history, however, which is dynamic rather than static, may suggest otherwise.

    For now, however, the dollar matters most to many.

    China, Russia, or India, for example, may be important, but few of us can or would predict that the yuan, ruble, or rupee will replace the greenback.

    I certainly don’t.

    So again, the USD will remain the king of liquidity. 

    And even for those who take de-dollarization seriously, will the BRICS+ nations really be able to agree to a gold-backed BRICS+ currency redeemable in, say, Moscow or Shanghai?

    I have my doubts—for the simple reason that as much as the BRICS+ nations collectively distrust the now weaponized USD, they don’t trust each other enough to relinquish their option to print their own currencies at will.

    But that doesn’t end the discussion on gold’s new and rising role in a changing dollar/world.

    Going Around Rather than Replacing the Dollar

    For me, debating a gold-backed new currency or “end of the dollar” drama thesis is missing the bullseye. 

    The facts and evolving history of today and tomorrow suggest that the real story is not about replacing the dollar, but simply going around it in a new price direction paved in both black and real gold.

    Toward that end, look at what the rest of the world and its central banks are doing, not what they (or our financial leadership) are saying:

    • Since 2008’s GFC, Putin has been hording gold;

    • Since 2014, global central banks have been net-sellers of USTs and net buyers of physical gold;

    • In 2023, 20% of global oil sales were outside of the USD;

    • Despite being pegged to the USD, Saudi Arabia, the UAE, and other GCC nations’ favorite import out of Switzerland this year is physical gold;

    • More than 44 nations are currently executing trade settlements outside of the USD;

    • Both Japan and China, historically the most reliable buyers of Uncle Sam’s IOUs, are now dumping billions and billions worth of them;

    • Russia is the world’s greatest commodity exporter, and China is the world’s greatest commodity importer—and they like each other far more than they do Biden or the next White House resident; more importantly, it is a matter of national survival for China to buy oil outside the USD;

    • Russia is now selling oil to China in yuan, which the Russians then use to buy Chinese goods (once made in America); thereafter, any delta in the trade is net settled in gold (not dollars) on the Shanghai Exchange. This, folks, is BRICS scalable (think India…);

    • Between swap lines, the CIPS alternative to the SWIFT system and rising negotiations between Gulf oil nations and other BRICS+ big-whigs, the current move away from dollar-denominated oil trades is real rather than imaginary;

    • Given the growing decline of physical gold and silver levels in the New York and London exchanges, they can no longer price fix gold as in the days of yore, nor can they justify a different 200 moving day gold price than one more fairly priced in China’s exchange;

    • The BRICS+ nations are no longer USD pawns but rising rooks. Their share of global GDP is surpassing that of the G-7;

    • In 2023, the Bank of International Settlements declared physical gold a tier-one asset alongside the 10Y UST;

    • Nations are openly (and naturally) preferring gold as a reserve asset over the other “tier-one” option–a dollar-based IOU of “risk-free-return,” which by any honest (current and future) measure of inflation offers a negative real yield, in other words: “return-free-risk;”

    • No matter how enamored the green crowd is of ESG, we are decades and decades (as well as trillions and trillions) away from carbon-neutral, and like it or not, energy matters and fossil fuels literally fuel the world;

    • China and India each have populations of over 1.4B. If oil demand increases even slightly in either of these BRICS countries, oil prices in rupees and yuan (and every other fiat currency) will explode—and two of the biggest players in the oil space don’t want to use dollars to pay for it. Instead, they’d prefer to net settle their oil and gas in gold, which buys more energy than dollars can;

    • Given that the annual production capacity for oil is 12-15X that of global gold, and with gold increasingly becoming the favored oil payment, gold’s price relative to oil can only go up;

    • This explains why gold is openly (not theoretically) becoming a more trusted reserve asset than the UST:

    In short, Energy matters, and rather than the USD being the base layer of money (see above), energy very well could be. 

    And THAT, folks, is how a system changes “violently and or militarily,” as most US direct and proxy wars have something to do with…oil.

    And that oil, by the way, is increasingly being net-settled in gold—day by day, and minute by minute, for the simple reason that history is like a hockey puck: You play where it is headed (gold), not where it sits (the USD).

    The Other Bullies Are Coming Together

    Returning to the prior assumptions of the Immortal Dollar thesis above, if money is whatever the strongest bully/power says it is, what happens to the previous notion of “money” when a collection of rising and resource-rich bullies/powers (BRICS+) is growing stronger, and their preferred focus is oil and not the dollar?

    What happens after a neutral reserve asset is weaponized against a major nuclear power and energy exporter (Russia) already in financial bed with the world’s largest energy importer (China)?

    The answer is simple: That once “immortal” reserve currency is less trusted and hence less in demand.

    Is it any coincidence, for example, that after DC weaponized the USD, the BRICS+ roster of nations increased to include the major oil exporters?

    Is it a coincidence that Saudi Arabia’s crown prince, whatever you think of him, gave Biden a fist-pump and Xi a warm handshake?

    And let’s be blunt: Does anyone truly believe oil is irrelevant? That American wars (direct or indirect) with Iraq, Libya and Syria were about protecting freedom and democracy? 

    Or might these conflicts have had something a bit more to do with energy in general and oil in particular?

    What the US elite doesn’t want you to know is that oil matters more than dollars, and that more countries today would rather pay for that oil in gold.

    And do we think the Saudis haven’t noticed that gold-backed oil sales are significantly and historically more stable than dollar-backed oil?

    Is it, therefore, a coincidence that since DC weaponized the USD, global central banks have been stacking gold at historical levels?

    Is it a coincidence that more and more nations are net settling commodities and other trade deals in gold rather than dollars?

    Is it a coincidence that nations and their central banks would rather save in gold (a finite asset of infinite duration) rather than US IOU’s (an infinite asset of finite duration), whose returns can’t beat inflation and whose purchasing power, even in dollar terms, has fallen greater than 98% when measured against a milligram of gold since 1971?

    Is it a coincidence that within 2 years of de-coupling the USD from gold in 1971, DC desperately raised its interest rates and strengthened its dollar so that Saudi Arabia et al. would agree to force the world to buy oil in strong dollars, thereby creating forced demand for an otherwise over-supplied/printed USD?

    But is it also just a coincidence that 50+ years (and a 98% weaker dollar later), Gulf nations like Saudi Arabia are now slowly turning away from that petrodollar after a generation of seeing it debased by over $100T in US public, private, and household debt—all of which has made an increasingly unloved UST increasingly unable to withstand further rate hikes and hence dollar-strength?

    It’s Good to Be the King

    But as per above, the smart bankers at the Fed and big banks still want us to believe the dollar is king, and that despite all its flaws, the great straw-sucking demand from a dollar-centric world is precisely what makes the greenback too big to fail.

    But what if the world is energy rather than dollar-centric? And what if the BRICS rise is more than a chimera but a new puck direction?

    Think about that. No one in DC or Wall Street wants you to.

    Pride Comes Before the Fall

    The certainty that tomorrow’s dollar will remain yesterday’s dollar is, in fact, a dangerous sign of hubris (and historical ignorance) before the fall.

    After all, if we can see the decline of the USD’s purchasing power since 1971, can’t others?

    And if we can see that UST returns are losing (technically defaulting) to current and future inflation, can’t others?

    And if we can see that the fake liquidity (QE or other) required to pay Uncle Sam’s rising bar tab will continue to be highly inflationary (and dollar-debasing), is it not reasonable to assume that the rest of the world can see this too?

    Going Around Rather than Against

    In fact, and based on what is being done rather than said, the rest of the world appears to see precisely what we are seeing.

    The BRICS nations are not seeking to destroy or replace the dollar. Instead, and like the Germans facing the Maginot line, they are already and openly going around it.

    How?  

    By using local currencies for local goods which are then net settled in a timeless asset: Gold.

    And if we can see that holders of gold can purchase significantly more energy (i.e., oil or gas) with gold ounces and kilos than they can with American dollars and USTs, is not at least reasonable to assume that gold’s role as a trade settlement asset will have higher demand as the USD suffers declining demand?

    And if demand for the USD as a net trade settlement asset continues to fall rather than rise, is it not equally plausible (if supply and demand forces still apply) to suggest that tomorrow’s dollar may be weaker rather than stronger?

    Two Crowns: The Timeless vs. The Temporary

    And even if we were to concede the milk-shake theory’s reasonable postulate that despite all its blemishes, the dollar will be “the last to fall,” the simple fact remains that regardless of whether it falls or fails “last,” it is already being repriced, even if it may never be fully replaced?

    Finally, and perhaps most importantly (and obviously), even if the USD remains “king” relative to all other fiat currencies (and this matters if you live in countries—like Turkey or Argentina-where your currency is far weaker), we can still objectively see, again, that gold holds its value even better than that USD “king.”

    In short, there’s a far better “king” than the USD—it was always there. 

    The central bankers just don’t want you to see it. 

    And this precious king has a crown of gold rather than paper.

    Which king will you choose?

    Tyler Durden
    Sun, 07/14/2024 – 19:50

  • Elon Musk Reveals Multiple Assassination Attempts, Says Time "To Build Flying Metal Suit Of Armor"
    Elon Musk Reveals Multiple Assassination Attempts, Says Time “To Build Flying Metal Suit Of Armor”

    The world’s richest man, Elon Musk, has disclosed for the second time that there have been multiple assassination attempts on his life over the past eight months. This comes after the failed assassination attempt on former President Trump at a campaign rally in Butler, Pennsylvania, on Saturday evening. 

    “Please, please triple your protection. If they can come for Trump they will also come for you. Elon Musk,” X user Ian Miles Cheong wrote in a post on the social media platform. 

    https://platform.twitter.com/widgets.js

    Musk responded to Cheong’s post with, “Dangerous times ahead,” adding, “Two people (separate occasions) have already tried to kill me in the past 8 months. They were arrested with guns about 20 mins drive from Tesla HQ in Texas.” 

    https://platform.twitter.com/widgets.js

    “You’ve likely already done this, but still, please beef up your security even more. Your family and the world needs you,” Tesla investor Sawyer Merritt told Musk on X.

    https://platform.twitter.com/widgets.js

    Tesla Owners Silicon Valley said, “Can you please up your security Elon ?” 

    https://platform.twitter.com/widgets.js

    “The dangerous rhetoric from the left is spiraling out of control. It is time for us to condemn left-wing extremism and classify ANTIFA and other left-wing extremist groups as violent terrorist organizations much like ISIS,” X user Adam Lowisz said. 

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    “Now this is a moment for the adults in the room to recognize an opportunity. People are now getting shot because of the hateful rhetoric of the left, rhetoric which is leveled against all pro-life, pro-family, pro-God Americans,” The Remnant’s Michael J. Matt wrote on X.

    Matt added, “The rhetoric of the left is so hateful and so dangerous that it must be said the enemy is encouraging just this sort of violence in our country. I don’t care what you think of Trump, THIS is the takeaway.” 

    https://platform.twitter.com/widgets.js

    No matter if it’s Musk, who is pro-humanity, or Trump, who is pro-family and pro-country, the leftist corporate media’s dangerous rhetoric against their political opponents is fueling violence and hate and assassination attempts. 

    Musk noted, “Maybe it’s time to build that flying metal suit of armor,” referring to the fictional exoskeleton worn by Tony Stark in the movie Iron Man. 

    https://platform.twitter.com/widgets.js

    The good news is that Tesla’s Cybertruck’s 301 stainless steel exoskeleton is bulletproof against America’s most common round, the 9mm round. 

    https://platform.twitter.com/widgets.js

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    Maybe it’s time for lawmakers on Capitol Hill to investigate leftist corporate media outlets that have pushed so much hate against not just the president but anyone who dares to support him, such as Musk and many others. 

    https://platform.twitter.com/widgets.js

    Tyler Durden
    Sun, 07/14/2024 – 19:15

  • Biden Halts 'Trump Is Hitler' Ads After Assassination Attempt
    Biden Halts ‘Trump Is Hitler’ Ads After Assassination Attempt

    Authored by Luis Carnelio via HeadlineUSA.com,

    The scandal-plagued Biden campaign has pulled all its ads against former President Donald Trump after he was nearly killed by a shooter on Saturday. 

    Joe Biden is “pausing all outbound communications and working to pull down our television ads as quickly as possible,” a campaign official told The Wall Street Journal on Sunday morning. 

    The ads would have likely labeled Trump as an existential threat ahead of the 2024 election. 

    Biden’s anti-Trump claims have rightfully led critics to question whether this heavily partisan rhetoric has incited violence against Trump.

    This rhetoric often conflates Trump with dictators, including Adolf Hitler, and suggests he would end “Democracy” if elected. 

    Just on Friday, Biden appeared at a campaign rally in Michigan, where he labeled Trump a “threat to this nation.” 

    Several conservatives quickly called out the past anti-Trump rhetoric that could have fueled violence against the former president. 

    Cartoonist Scott Adams on Twitter wrote, “The Biden campaign is pausing its ad campaign that was obviously designed to get Trump assassinated.  The Fine People Hoax probably just killed one spectator, injured another, and almost ended Trump. This is all on Biden.”

    Kyle Mann, the Babylon Bee’s editor-in-chief, added, “When you call your political opponent Hitler for 4 years, don’t act surprised when you inspire your followers to try to kill him.” 

    Outkick founder Clay Travis echoed Mann’s remarks, writing, “I am f**king furious beyond words. F**k every left wing media member who has been calling him Hitler for the past eight years. This is on them. They made this happen.” Travis’s post has reached nearly 5 million views.

    Director James Wood wrote, “We were two inches away from a civil war today. It is not a prospect I relish, but one that is to be feared if Democrats don’t stop with their absurd vile Hitler analogies and their assassination glee.” 

    https://platform.twitter.com/widgets.js

    Comedian and host Dave Smith similar said, “How the f**k can you say he’s literally Hitler and Democracy is on the line but we wish him a speedy recovery and political violence is never acceptable?”

    The Daily Wire posted a video compilation of several legacy media outlets comparing Trump to Hitler.

    https://platform.twitter.com/widgets.js

    Other critics were equally vocal in their responses.

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    Tyler Durden
    Sun, 07/14/2024 – 18:40

  • Spot The Odd One Out
    Spot The Odd One Out

    The COVID-19 pandemic erased nearly two decades of life expectancy gains in America. Meanwhile, U.S. health spending per capita is at the highest level in the world.

    In the graphic below, Visual Capitalist’s Marcus Lu visualizes life expectancy and per capita healthcare costs across several wealthy nations.

    Figures were compiled by Peterson-KFF, and are as of 2022.

    America Spends a Lot on Healthcare, For Little Gain

    As Peterson–KFF bluntly notes, “the U.S. has the lowest life expectancy amongst large, wealthy countries” while their per capita healthcare cost has moved past $12,500 as of 2022

    In fact the U.S. is an outlier for both healthcare costs (+$4,600 from next-highest Germany), and in life expectancy (-3.2 years from Germany).

    Note: Health spend is measured in PPP-adjusted 2022 U.S. dollars.

    From the 12 developed countries in the analysis, the average healthcare per capita cost is at $6,700 with a life expectancy of 82.2 years. Americans spend nearly double the amount while living 5 years less on average. Peterson-KFF also notes that in 1980, the U.S. had similar health spends and life expectancies as all its peers. Trends have since diverged.

    Of course, both health care spending and life expectancies are influenced by a variety of socioeconomic factors. For example, the UK has the lowest costs ($5,500) amongst its European peers in the group, thanks in part to its National Health Service.

    At the same time, Japan has one of the highest life expectancies in the world (84 years) while its per capita health costs come in at $5,300. Their low red meat intake and high fish consumption are partially credited with maintaining good health in the population.

    Tyler Durden
    Sun, 07/14/2024 – 18:05

  • Middle East Reacts To A 'Destabilized' America
    Middle East Reacts To A ‘Destabilized’ America

    Via Middle East Eye

    The assassination attempt on former President Donald Trump on Saturday has provoked an outpouring of condemnation, even from opponents of the Republican frontrunner. In the Middle East, national leaders largely joined in. 

    “I followed up the treacherous attack on former president and presidential nominee Donald Trump with concern, and I reiterate Egypt’s condemnation of the incident,” wrote Egyptian President Abdel Fattah el-Sisi on his Facebook page. He expressed hope for the “completion of the American election campaigns in a peaceful and healthy atmosphere, free of any manifestations of terrorism, violence, or hatred“.

    Via AP

    The attack was also condemned by Turkish President Recep Tayyip Erdogan, who said he hoped those behind it would be brought to justice “in order not to cast a shadow on the US elections and global stability“, while Israeli Prime Minister Benjamin Netanyahu said he and his wife would pray for Trump’s “safety and speedy recovery”.

    Palestinian President Mahmoud Abbas, who has not enjoyed cordial relations with Trump in past, also condemned the attempted assassination, saying in a statement that he “reaffirm[s] the positions of the State of Palestine, which has always rejected violence, terrorism, and extremism, regardless of its source”.

    Not everyone, however, was so supportive or magnanimous. The Telegram and X accounts for Sabereen News, an outlet affiliated with the Iran-backed “resistance” groups in Iraq, on Sunday posted a picture of a bleeding Trump with the caption: “Today terror has entered their fortified palaces.”

    One of Trump’s last significant acts while in office was ordering the assassination of Qassem Soleimani, former head of Iran’s Al-Quds Force.

    The 2020 attack in Baghdad, hailed by Trump as a “flawless precision strike”, also killed Abu Mahdi al-Muhandis, a senior Iraq government official and head of the irregular Popular Mobilisation Forces.

    Iranian journalist and former diplomat Amir Mousawi also implied the attack was “divine” retribution for the killing of Muhandis and Soleimani, tweeting “soul for a soul and an eye for an eye” and suggesting Netanyahu would be next.

    Others pointed out the irony of Israeli officials’ condemnation of the Trump attack just a day after their own attempted assassination of a senior Hamas leader in Gaza:

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    And as night follows day, numerous social media users also attempted to link the assassination to a range of Middle Eastern factions, with some in the US and Israel claiming the shooter was a supporter of Hamas, some blaming the Israeli Mossad intelligence agency, and some Turkish users saying he was a supporter of the militant Kurdistan Workers’ Party, or PKK.

    While Trump’s arch-nemesis Iran has yet to comment on the shooting, a number of Trump supporters tried to link the Islamic Republic to the shooting by citing a statement by an Islamic Revolutionary Guard Corps commander last year in which he said they “hope we can kill Trump, [former Secretary of State Mike] Pompeo, [former US general Kenneth] McKenzie and the military commanders who gave the order” to kill Soleimani.

    So far however, despite speculation and conspiracy theories, the motivation of the shooter has yet to be determined.

    * * *

    Meanwhile…

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    Tyler Durden
    Sun, 07/14/2024 – 17:30

  • These Are The 10 US States With The Highest Cost Of Living
    These Are The 10 US States With The Highest Cost Of Living

    Ever wondered where your dollar stretches the least in the U.S.?

    States vary significantly when it comes to cost of living, which takes into account expected expenses for essentials like housing, food, and transportation.

    In this graphic, Visual Capitalist’s Kayla Zhu maps out the top 10 U.S. states with the highest annual cost of living in 2024. The cost of living figures are based on data calculated by Forbes Advisor.

    Calculating Cost of Living

    To calculate the cost of living in each state, Forbes Advisor calculated annual expenses for housing, healthcare, taxes, food, and transportation.

    Their data sources include C2ER, KFF, MIT Living Wage Calculator, and the U.S. Census Bureau. You can read more about their methodology here.

    Hawaii is the State with the Highest Cost of Living

    The sunny state of Hawaii is the most expensive state to live in, with an average annual cost of living of $55,491.

    Despite having the highest cost of living ($55,491), Hawaii also has the lowest annual average salary ($61,420) among these 10 states.

    This leaves residents with an annual disposable income of $5,929–the lowest out of all 50 states.

    Some factors that contribute to Hawaii’s high cost of living are its high housing costs due to housing shortages and high income taxes.

    Coastal Life Isn’t Cheap

    Life on either coast isn’t cheap, either.

    All four West Coast states make the top 10 list, while Northeastern states like New York, Massachusetts, and New Jersey also make an appearance. New York City is consistently ranked as one of the most expensive cities in the world to live in.

    About 40% of the U.S. population lives on the coast, but the coast only accounts for less than 10% of the country’s land mass.

    Tyler Durden
    Sun, 07/14/2024 – 16:55

  • America Was Less Than An Inch Away From Socio-Political Disaster
    America Was Less Than An Inch Away From Socio-Political Disaster

    Authored by Andrew Korybko via Substack,

    Former President and impending Republican Nominee Donald Trump survived an assassination attempt at an outdoor rally in Pennsylvania on Saturday days before his party’s national convention after suddenly turning his head at the last second and thus miraculously dodging a bullet that only ended up grazing his ear. The shooter was killed by the Secret Service, but an eyewitness told the media that he warned the police about a man crawling on the roof a few minutes earlier, though no action was taken.

    This security lapse is suspicious and prompts speculation that at least one member of the Secret Service might have purposely waited until after the shooter took his shot before neutralizing him, whether out of sympathy for his cause or perhaps because they were in on some sort of plot.

    About the shooter, he’s been identified as Thomas Matthew Crooks, a registered Republican. It remains unclear at the time of writing what his online history was and whether there’s more to his party affiliation than meets the eye.

    At the very least, there’s no doubt that the Democrats’ and their allied “Never Trumpers’” hatemongering played a role in radicalizing the suspect.

    Had he succeeded in assassinating Trump, then the US would have certainly plunged into socio-political disaster, which it literally missed by less than an inch. Many expect that powerful Democrat donors might soon force Biden to drop out of the race, thus leading to the party selecting their nominee outside of the notionally democratic primary process.

    Their Republican counterparts would have done the same on their side of the aisle, especially since Trump hadn’t yet announced his Vice-Presidential pick by the time of his attempted assassination. Both parties would therefore have likely chosen nominees that didn’t complete their respective primary processes, thus blatantly disenfranchising Americans even more than they already are in reality. In theory, the elections could be delayed to re-run the primaries, but Congress might not agree to it.

    Even if they did, the aforementioned hyperlinked article reminded readers that the 20th Amendment mandates the end of the President and Vice-President’s four-year terms at noon on 20 January, thus leading to (replacement) President Harris being forced to step down before a new one is elected. Her Vice-Presidential replacement could only be speculated upon in that scenario since the 25th Amendment stipulates that they’d have to be confirmed by a majority vote of both Houses of Congress.

    Whether or not the elections would be delayed, the US would continue to be ruled by the “governing oligarchy” that Axios reported late last month is the real power behind Biden. This analysis here that was coincidentally published earlier that same day noted that “The country is being ruled by a shadowy network of transnational and domestic elites that are united by their radical liberal-globalist ideology.” This group simply exploits Biden as their placeholder to publicly legitimize all of their decisions.

    They’d remain in power if the Democrats keep the White House or if a “Republican In Name Only” (RINO) replaced Trump had he been assassinated. The former President promised supporters that he’d make good on his former pledge to “drain the swamp” if he’s re-elected, and while precedent suggests that he might once again fail, there’s still a chance that he might partially succeed. At the very least, his return could create the conditions for some replacements, who might be conservative-nationalists.

    This insight sheds light on those forces who’d be pleased had he been assassinated, namely the liberal–globalist clique that secretly controls American policy, and they’d also have been delighted that Trump wouldn’t get the opportunity to end their latest “forever war” in Ukraine like he sought to do. His potential Republican successor could try to follow in his planned footsteps, but they also might not be interested in doing so if they’re a RINO, hence why taking Trump out could have been a game-changer.  

    On the home front, there’s no doubt that “shitlibs” would have plastered pictures of Trump’s blown-out brains all over social media and their cities in order to incite his supporters to violence, and some of them would have predictably obliged after being endlessly provoked with such images. The ruling liberal-globalists have wanted to radicalize MAGA members for a while already in order to further discredit their movement and create a compelling pretext for cracking down more forcefully upon them all.

    It also can’t be ruled out that some of these newly radicalized supporters of his might have carried out “retributive violence” by targeting Democrat officials from the federal level on down to the local one if they blamed them for his assassination. Infamous anti-Trump celebrities and influencers could also have been caught up in this bloody campaign, which might have led to martial law in parts of the country like Trump should have imposed during the Democrats’ spree of urban terrorism in summer 2020.

    America’s socio-political fabric could therefore have very easily been torn to shreds had Trump not suddenly turned his head at the last minute and thus miraculously averted this worst-case scenario by less than an inch. There’s no guarantee that this won’t happen again, however, which is why it’s imperative that Trump immediately announce his Vice-Presidential pick and ideally choose someone who the ruling liberal-globalist elite is also afraid of in order to reduce the chances of him being killed.

    Regardless of whatever happens, America just got a reality check about how close it is to descending into chaos, which shows how much it’s changed for the worse since 2016. Partisan radicalization and elite scheming have always been around, but they reached an unprecedented level after Trump became the Republican Nominee back then. He’s an imperfect candidate with a lot of personal flaws, but his re-election is the last chance to save America from itself if he succeeds in implementing his lofty plans. 

    Tyler Durden
    Sun, 07/14/2024 – 16:20

  • 'A Mistake': Zelensky Says He Can 'Forget' Biden Calling Him Putin (After Billions Donated)
    ‘A Mistake’: Zelensky Says He Can ‘Forget’ Biden Calling Him Putin (After Billions Donated)

    Ukraine’s President Volodymyr Zelensky had a brief look of shock and confusion the moment when on Thursday President Biden introduced him before the NATO summit as Russian “President Putin”.

    In the embarrassing aftermath, which stunned the US Democratic political establishment at a moment questions were already intensifying over his mental fitness for office, Zelensky has been asked to comment on the uncomfortable moment. The Ukrainian leader as expected played down the flub, calling it a “mistake” which can now be forgotten and that he plans to move on from it.

    AFP/Getty Images

    “It’s a mistake. I think [the] United States gave a lot of support for Ukrainians. We can forget some mistakes, I think so,” the Ukrainian president told reporters from Ireland on Saturday, where he’s visiting Irish leader Simon Harris.

    Immediately after calling Zelensky “Putin” – Biden corrected himself and looked humiliated, saying the Ukrainian leader was actually going to “beat” Putin.

    But the moment overshadowed everything, including the rare Q&A the US president did later that night, which also didn’t go so well (given the references Biden made to “Vice President Trump”…).

    “Theater of the absurd,” a Russian reporter said after playing a clip of Biden calling the Ukrainian president by his wartime enemy’s name. —NBC

    As for Zelensky downplaying the moment and wanting the world to move on… this is exactly what one might expect from a foreign leader who has been given tens of billions by Biden.

    At the same time Ukraine has not looked favorably on a potential future Trump administration. Trump has at times said things which have outraged Kiev, such as promising to end the war within 24 hours by quickly getting each side to the negotiating table.

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    Trump has reportedly even floated a plan to withhold weapons from Kiev if it doesn’t agree to quickly seek to negotiate toward ceasefire and peace. By and large Ukraine has sided with the Biden administration in looking upon Trump as somehow ‘compromised’ by the Kremlin, given also the past years of pushing ‘Russiagate’ narratives.

    Tyler Durden
    Sun, 07/14/2024 – 15:45

  • Democratic Socialists Of America Withdraws Endorsement Of AOC
    Democratic Socialists Of America Withdraws Endorsement Of AOC

    Via HeadlineUSA.com,

    The Democratic Socialists of America withdrew its endorsement of “Squad” Rep. Alexandria Ocasio–Cortez, D-N.Y., for not being far left enough on Israel’s military strike in Gaza.

    In a memo on Wednesday, the DSA acknowledged Ocasio–Cortez has taken some “courageous positions on Palestine,” but said she has not done enough to oppose Israel.

    The memo cited her recent panel with leaders from the Jewish Council for Public Affairs, calling it a “deep betrayal to all those who’ve risked their welfare to fight Israeli apartheid and genocide through political and direct action in recent months, and in decades past.”

    The DSA also took issue with “[Ocasio-Cortez’s] votes, including a vote in favor of H.Res.888, conflating opposition to Israel’s ‘right to exist’ with antisemitism,” and a press release in April she co-signed that “support[s] strengthening the Iron Dome and other defense systems.”

    Because of this, the DSA said it would be revoking its endorsement of Ocasio–Cortez, which it gave to her in June on the condition that she publicly oppose all funding to Israel, participate in the DSA committee, publicly oppose criminalization of all “anti-Zionism,” and publicly support efforts to “end Israel settler-colonialism.”

    The group added, “A national DSA endorsement comes with a serious commitment to the movement for Palestine and our collective socialist project. To build a socialist movement that’s capable of defeating capitalism, we must demand more from leaders in our movement.”

    In 2018, Ocasio–Cortez became the first female member of the DSA to be elected to Congress, alongside her fellow “Squad” Rep. Rashida Tlaib, D-Mich. She is still endorsed by the DSA’s New York chapter.

    Ocasio–Cortez has been openly critical of the Biden administration’s continued support for Israel and has demanded that President Joe Biden pressure Israel to agree to a permanent ceasefire against Hamas. 

    However, other groups that considered themselves central to her political rise, such as the Justice Democrats, have likewise signaled that the former bartender from the Bronx has lost site of their core values on her climb up the political ladder.

    She has not commented on the DSA’s withdrawal of support for her campaign.

    Tyler Durden
    Sun, 07/14/2024 – 15:10

  • Surge In "Donate To Trump" Searches After Assassination Attempt
    Surge In “Donate To Trump” Searches After Assassination Attempt

    Donald Trump’s campaign and the Republican National Committee could be set to receive another influx of donations from Americans, including many mom-and-pop voters across the nation, following the assassination attempt on the former president at a campaign rally in Butler, Pennsylvania, on Saturday evening. If the surge in donations following Trump’s guilty verdict in May, which brought in tens of millions of dollars in the days and weeks after, is any guide, then another donation wave could be imminent, if not already underway. 

    Google Trends search data shows that “Donate to Trump” surged nationwide in the moments after the assassination attempt. Folks in Wyoming, South Dakota, New Hampshire, West Virginia, and Nevada were searching for ways to donate to the Trump campaign the most. 

    The search data already exceeded the prior peak during Trump’s guilty verdict in his criminal hush money trial in May. That month, Trump and the GOP raised $141 million, with more than two million donations averaging $70 each. About 37.6% of the $141 million was raised in the 24 hours after the verdict was announced. 

    Americans were also searching for the “Trump campaign website,” and this search trend spiked overnight. 

    On Friday, Bloomberg revealed that Elon Musk contributed to America PAC, which is working to elect Trump to the White House. 

    Hours after the assassination attempt, Bill Ackman “formally endorsed” Trump on X.

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    PredictIt data shows that Trump’s odds of winning the presidential elections jumped to as high as 68% last night. Trump’s odds of winning surged at the end of last month following President Biden’s disastrous debate performance. 

    The increasing support for the former president comes as Biden’s election efforts falter, and a growing number of Democrats have asked Biden to step aside over his lack of mental acuity. 

    Tyler Durden
    Sun, 07/14/2024 – 14:35

  • "Malice Or Massive Incompetence": Erik Prince Gives Detailed Assessment Of Secret Service Failure
    “Malice Or Massive Incompetence”: Erik Prince Gives Detailed Assessment Of Secret Service Failure

    Update (1420ET): Former Navy Seal and Blackwater founder Erik Prince gave a detailed assessment of yesterday’s Secret Service debacle in the wake of a failed assassination attempt on former President Trump.

    “Hopefully after the tragedy yesterday in Butler PA we can all recognize that unaccountable bloated bureaucracies continue to fail us as Americans,” Prince posted to X.

    Continued (emphasis ours):

    Donald J Trump is alive today solely due to a bad wind estimate by an evil would be assasin [sic].

    As the graphics show the full value wind of just 5mph was enough to displace the unconfirmed but likely light 55 grain bullet two inches from DJT’s intended forehead to his ear.

    DJT was not saved by USSS brilliance. The fact that USSS allowed a rifle armed shooter within 150yds to a preplanned event is either malice or massive incompetence. Clearly there was adequate uncontrolled dead space for a shooter to move into position and take multiple aimed shots. Watching the newsreel one can hear how proximate the shooter is by the very short time lapse between the crack of arriving bullet (supersonic) to the boom of muzzle blast (sonic).  

    The law enforcement sniper (unclear if USSS) in newsreels was clearly overwhelmed as his face came off his rifle instead of doing his job to kill the shooter. Clearly they were watching the shooter but apparently have a no “first shot” policy.  The only positive action was an apparent 488yd shot by one USSS sniper which despatched the assasin but after the assassin launched at least 5 rounds, wounding DJT and killing and severely others in the crowd.

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    In my old business of providing Diplomatic Security in two active war zones we were expected to execute the basics or we would be fired. Clearly USSS failed at the basics of a secure perimeter and once shots were fired their extraction was clumsy and left DJT highly exposed to follow on attacks. It looked like they had never drilled together because those responses should be effectively autonomic. Will there be accountability?  That’s not the Washington way.

    Unserious and unworthy people in positions of authority got us to this near disaster. Merit and execution must be the only deciding factors in hiring and leadership, not the social engineering priority of the day.  Sadly nothing in Washington reflects that any longer. DJT is right to question the competence of those protecting him because yesterday they failed in almost every way. Nature abhors a vacuum and there are always other options.

    Most importantly, as Americans let’s come together and run a proper valid election so we can get back to what matters a merit based society that judges on character and skill. Nothing else.

    (Images from a SEAL sniper instructor at Red Sky LLC)

    *  *  *

    Indeed…

    *  *  *

    When looking at the circumstances in favor of Thomas Matthew Crooks, the identified alleged suspect in the attempted assassination of Donald Trump in Butler, PA, it’s hard to see how the guy failed.  Almost every Secret Service security protocol seems to have been ignored, allowing Crooks easy access to a perfect shooting position and plenty of time to acquire a bead on Trump’s podium.

    The rooftop used by Crooks was a mere 140 yards away from the event with a clear line of sight to the right of Trump.  Those familiar with precision shooting know that any shot within 300 yards is considered easy for a moderately trained rifleman.  With the right caliber an expert can hit a torso sized target consistently at 1000 yards or more.  At 140 yards any amateur should be able to hit a pie plate-sized target with little difficulty, even without a magnified optic. 

    The Secret Service is supposed to secure all obvious “sniper perches” well before the arrival of a protectee – Meaning, nearby rooftops and buildings are supposed to have a security presence in place along with drone surveillance.  In the case of Butler, PA, this was apparently not done.  SS snipers were only present on the building right behind the venue stage.

    The lack of a security presence at the building across the field made it possible for the would-be assassin to brazenly jaunt to the location and climb to the rooftop with his rifle in broad daylight.  The SS traditionally uses concentric “circles of security” going out hundreds if not thousands of yards when preparing a location for protection.  Watch the video below for insight on how meticulous the Secret Service is supposed to be when preparing an area to prevent assassination attempts.

    The idea of Crooks being able to get that close with an elevated position on the stage is unthinkable.  Another fail was the lack of sight obstructions put in place near the stage.  The Secret Service is supposed to erect barriers to block the line of sight from potential shooting locations.  Again, this was not done. 

    Finally, there’s the dismal lack of response time.  Witnesses outside the event report that they saw Thomas Crooks climbing to the building rooftop with his rifle at least three minutes before he started shooting.  They claim they tried to warn police and Secret Service agents to no avail.  

    “How could you have somebody on the rooftop?” said House Majority Leader Steve Scalise – a victim of political violence, after the shooting. “There are reports that people watched him climb up the roof and even alerted authorities, and we’re going to be looking into that.“

    Meanwhile, House Oversight Committee Chairman James Comer on Saturday night demanded immediate answers from the Secret Service as to how it failed to prevent the assassination attempt.

    “I have already contacted the Secret Service for a briefing and am also calling on Secret Service Director Kimberly Cheatle to appear for a hearing,” Comer said on X. “The Oversight Committee will send a formal invitation soon. There are many questions and Americans demand answers.”

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    As Just the News notes, warning signs about the Secret Service were there months before the Trump assassination attempt.

    Back in May, Congress requested a briefing with the Secret Service, after several incidents allegedly raised internal concerns over the quality of its trainings.

    A petition within the Secret Service has reportedly been circulating because of the incidents and called for a congressional investigation into the agency, according to Comer.

    One incident saw a Secret Service agent assigned to Vice President Kamala Harris allegedly attack her superior and other agents. The unnamed agent also exhibited other “concerning” behavior, according to her colleagues.

    Luckily for Trump, Crooks seems to have had terrible aim and he was not smart enough to shoot from a covered position which would have offered him protection and allowed him even more time.  Unfortunately, the shooter’s stray bullets hit at least three bystanders in the crowd, leaving one dead and two in critical condition.  The security failure in this situation is so complete that former Secret Service agents are admitting it publicly and calling for an investigation into how this could have happened.

    The motive for Thomas Crooks’ actions is not yet known.  Reports claim the 20-year-old Bethel Park resident was registered to vote as a Republican, yet, he also donated money to Democrat run organizations in 2021, including ActBlue and the Progressive Turnout Project.  

    As we warned only two weeks ago, Democrat rhetoric has been increasingly violent after the Supreme Court decision on Trump’s prosecution immunity.  Many Democrat representatives and activists openly suggested Trump could (or should) be assassinated in response to the ruling.  The media’s fear mongering over the “imminent destruction of Democracy” should Trump prevail might not be directly related to the shooting attempt, but it certainly doesn’t help.  In the wake of the failed assassination many have still taken to social media to argue that the shooting was “staged”, while others complained that the shooter missed his target.             

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    Regardless of one’s position on Trump, this kind of political vitriol should be considered poisonous.  It can only lead to more violence in the future. Again, the shooter was given every opportunity; Democrats almost got what they have long wanted.

    Tyler Durden
    Sun, 07/14/2024 – 14:24

Digest powered by RSS Digest

Jul 14

Today’s News 14th July 2024

  • Trump Gunman Reported To Be Thomas Matthew Crooks
    Trump Gunman Reported To Be Thomas Matthew Crooks

    Summary (footage below):

    • Shooter reported to be 20-year-old Thomas Matthew Crooks, NY Post. No official confirmation has been made.
    • Trump has responded, saying on Truth Social “I was shot with a bullet that pierced the upper part of my right ear.”
    • Secret Service says one spectator was killed and two were critically injured.
    • Former President Donald Trump was shot in the ear by a would-be assassin at a Butler, Pennsylvania rally on Saturday.
    • Trump could be seen grabbing his ear and falling to the ground, before standing up and walking off stage.
    • Approximately nine shots rang out.
    • A member of the crowd, as well as the shooter, are dead following the assassination attempt.
    • One Trump supporter says he alerted Secret Service before the shooting and was ignored.
    • Trump’s team reportedly asked for ‘beefed up protection’ and was rebuffed over and over by Biden DHS.

    *   *   *

    Update (0013ET): The shooter has been identified by the NY Post as 20-year-old Thomas Matthew Crooks of Bethel park, PA. According to sources, crooks was planted on the roof of a manufacturing plant over 130 yards away from the stage at Butler Farm Show Grounds.

    *  *  *

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    Update (2350ET): Watch as the FBI, Secret Service and state police hold presser following the Trump assassination attempt.

    *   *   *

    Update (2126ET): President Trump has responded on Truth Social, writing: “I was shot with a bullet that pierced the upper part of my right ear. I knew immediately that something was wrong in that I heard a whizzing sound, shots, and immediately felt the bullet ripping through the skin. Much bleeding took place, so I realized then what was happening.”

    Trump has been released from the hospital:

    The would-be assassin is allegedly pictured here:

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    The secret service, which reportedly ignored a warning about the shooter climbing a building (see below), has issued the following statement:

    During Former President Trump’s campaign rally in Butler, Pennsylvania, on the evening of July 13 at approximately 6:15 p.m., a suspected shooter fired multiple shots toward the stage from an elevated position outside of the rally venue. U.S. Secret Service personnel neutralized the shooter, who is now deceased. U.S. Secret Service quickly responded with protective measures and Former President Trump is safe. One spectator was killed, and two spectators were critically injured. This incident is currently under investigation. and the Secret Service has notified the FBI.

    Update (1918ET): Trump was grazed by a bullet and two people are dead, including the shooter, according to the Butler Country District Attorney.

    According to The Federalist‘s Sean Davis,

    “A source familiar with Trump’s security detail tells @FDRLST that the former and future president’s detail has been asking for beefed up protection and resources for weeks, but has been rebuffed time and again by Biden’s DHS.

    DHS, which oversees Secret Service protective detail “wasn’t responsive to those requests” for more resources, the source said.”

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    New audio has emerged from moments after the shooting.

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    *  *  *

    Donald Trump appears to have been shot during a rally in Butler, Pennsylvania. The former President could be seen grabbing his neck and then falling to the ground as the sound of shots rang out.

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    Longer clip with closer vantage (shooting at 21 seconds):

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    Trump was seen standing back up with blood on his face, and was led off stage by the Secret Service, who could be heard shouting “get down” during the incident.

    “I saw blood on his ear,” one rallygoer, Ron Moose, told the NYT.

    Nine shots were heard, including three before Trump grabbed his ear.

    Some reported seeing the military chase someone on the left hand side of the bleachers. The Times is also reporting that secret service is kicking out the press and has declared the venue a crime scene.

    Trump’s ear was visibly wounded.

    According to Secret Service spoksman, Anthony Guglielmi, Trump “is safe” after “an incident occurred” at the Pennsylvania rally.

    Trump spokesman Steven Cheung said that Trump is “fine and is being checked out at a local medical facility,” adding that Trump “thanks law enforcement and first responders for their quick action during this heinous act.”

    “Everyone join me in praying for our President Trump and everyone at that rally. I hope everyone is ok,” GOP Senator J.D. Vance (R-OH) posted on X.

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    One Trump supporter told the BBC that he and others saw the shooter before the assassination attempt, alerted police and the secret service, and was ignored…

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    The incident comes days after Joe Biden and top Democrat donor Reid Hoffman make assassination comments.

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    Democrats are bummed…

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    And of course, the Washington Post goes with “Trump Rushed Offstage From Rally After Loud Pops.”

    Yes, ‘loud pops’ … ‘loud noises,’ really just an annoying sound is what we think they’re trying to convey.

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    And then there’s CNN…

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    Elon Musk, who recently donated to Trump, says he hopes for his ‘rapid recovery.’

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    Now, turning to PredictIt odds…

    Here’s a better view of Trump’s soaring odds. 

    Google searches for “donate to Trump” are surging nationwide. If the sham guilty verdict in NYC in May was any indication, then Trump’s campaign could pull in millions of dollars overnight into Sunday. 

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    Tyler Durden
    Sun, 07/14/2024 – 00:13

  • The Roots Of World War III
    The Roots Of World War III

    Authored by Francis P. Sempa via RealClearWire.com,

    The American diplomat and historian George F. Kennan called the First World War the “seminal catastrophe” of the 20th century, and he wrote two lengthy books on the events that led to the outbreak of that war: The Decline of Bismarck’s European Order and The Fateful Alliance. He also included one of his lectures on the First World War in his book American Diplomacy. Reading these works of history gives one a better sense of the root causes of that war, which included policies, decisions, and events that occurred decades before June-August 1914.

    When the war began in the Balkans after the assassination of the Austrian archduke and his wife in Sarajevo on June 28, 1914, few foresaw that the conflict would eventually engulf most of Europe and parts of Asia, Africa, and the Middle East, and result in the toppling of four empires (Romanov, Hohenzollern, Hapsburg, and Ottoman), the deaths of more than 10 million combatants, the aerial bombing of cities, the use of poison gas, the carving-up of territories in the Middle East that would engender conflicts that continue to this day, the creation of revolutionary secular ideologies that led to an even more destructive war and a Cold War that followed it. When Kennan reviewed the major diplomatic and international events in the rest of the century, he remarked that “all the lines of inquiry” led back to World War I.

    Today, with wars in Eastern Europe and the Middle East, and a gathering storm in the western Pacific, there is concern that the world is lurching toward another world war. All three conflicts involve at least one nuclear armed power. Some respected strategists and observers believe that an “axis” of autocracies (Russia, China, Iran, and perhaps North Korea) are collaborating to undermine the global order produced by the end of the Cold War, and are urging the United States and its allies to become more deeply involved in these conflicts. Some have even urged the formulation of a “grand strategy” for winning the Third World War. The “lessons of Munich” have been invoked along with Churchillian-like warnings about the need to confront aggressors now to deter future aggression. Those who counsel prudence or restraint, or who promote diplomatic solutions to these conflicts are often labeled “appeasers” or worse.

    In The Decline of Bismarck’s European Order, Kennan wrote that the origins of World War I could be traced to at least 1875, when the future Franco-Russian alliance first germinated in the minds of the statesmen of both countries. A hallmark of German Chancellor Otto von Bismarck’s diplomacy was to prevent an alliance between France and Russia. When Bismarck left the scene in 1890–forced into retirement by the brash Kaiser Wilhelm II–his alliance structure gradually fell apart. During the next two decades, France and Russia grew closer, eventually entering into what Kennan called the “fateful alliance” in 1894. Germany, meanwhile, allowed the Reinsurance Treaty with Russia to lapse, grew closer to Austria-Hungary, while simultaneously scaring Great Britain by challenging it at sea. Yet, almost to the very day in August 1914, that Germany declared war on Russia, and the alliance system quickly brought other great powers into the war, few believed that the regional war between Austria-Hungary and Serbia would spread across Europe, into Asia, the Middle East, and Africa, and draw into the maelstrom of conflict combatants from Australia, North America, and elsewhere.

    In The Fateful Alliance, Kennan explained what he characterized as a “whole series of . . . aberrations, misunderstandings, and bewilderments that have played so tragic and fateful a part in the development of Western civilization over the subsequent decades.” He continued:

    One sees how the unjustified assumption of war’s likelihood could become the cause of its final inevitability. One sees the growth of military-technological capabilities to levels that exceed man’s capacity for making any rational and intelligent use of them. One sees how the myopia induced by indulgence in the mass emotional compulsions of modern nationalism destroys the power to form any coherent, realistic view of true national interest. One sees, finally, the inability of otherwise intelligent men to perceive the inherent self-destructive quality of warfare among the great industrial powers of the modern age.

    Kennan worried that in the nuclear age, these developments could result in “a catastrophe from which there can be no recovery and no return.”

    In his seminal history of World War II, The Second World Wars, Victor Davis Hanson described how a series of smaller, regional wars–an Italian-Ethiopian war, a German/Soviet-Polish war, a German-Norwegian war, a German-Danish war, a German/Italian-French/British war, a German-Yugoslav war, a German-Greek war, a German-Soviet War, a Japanese-Chinese War, a U.S./Britain-Japan War–expanded into a global conflict of unprecedented proportions and destruction.

    Today, the wars between Russia-Ukraine/NATO/US, Israel/US-Hamas/Hezbollah/Iran, and the China-Taiwan/U.S. dispute are regional conflicts that if not limited and resolved may expand into a global conflict among nuclear powers–a Third World War, which, to paraphrase George Kennan, would be a catastrophe from which there would be no recovery and no return. Yet, the United States under the Biden administration seems intent on continuing and escalating its involvement in Ukraine, even as it sends mixed signals about our intentions in the Middle East and the western Pacific. Adding to the danger is a growing perception both here and abroad that the American president is cognitively unfit for the job of commander-in-chief and chief diplomat.

    Should, God forbid, World War III evolve out of these regional conflicts, historians of Kennan’s depth and insight may trace its roots to the early post-Cold War years when successive administrations expanded NATO and positioned the alliance on Russia’s European borders despite vigorous protests from successive Russian leaders (Gorbachev, Yeltsin, Putin), and prophetic warnings from Kennan and several other experts on Russia and international affairs (including Richard Pipes, Edward Luttwak, Jack Matlock, Jr, Paul Nitze, Fred Ikle, Sam Nunn, Marshall Shulman) that NATO enlargement would produce an aggressive Russian reaction. Those same historians may also cite the foolish and failed post-Cold War engagement of China which helped facilitate the rise of our next peer competitor even as it drove Russia into the arms of that peer competitor while we were distracted fighting peripheral wars in Afghanistan and Iraq, and clearing the way for greater Iranian influence in the Middle East in our quest to remake that region in our own image (the so-called “Arab Spring”).

    Now, some in the West are calling on the U.S. and its allies to invite Ukraine to become a member of NATO even as Ukraine’s war with Russia gives no sign of ending. This caused more than 60 foreign policy specialists and scholars to pen an open letter to NATO leaders urging them not to invite Ukraine into the alliance. “Moving Ukraine toward membership in the alliance,” the letter states, “could make the problem worse, turning Ukraine into the site of a prolonged showdown between the world’s two leading nuclear powers and playing into Vladimir Putin’s narrative that he is fighting the west in Ukraine rather then the people of Ukraine.” Such a move, the signers contend, “would reduce the security of the United States and NATO allies, at considerable risk to all.”

    Let us hope that a future George Kennan will not describe a U.S.-NATO-Ukraine Treaty as a “fateful alliance.”

    Francis P. Sempa is a regular contributor to RealClearDefense and writes the Best Defense column each month.  Read his latest: “Rise and Fall of American Naval Mastery.”

    Tyler Durden
    Sat, 07/13/2024 – 23:20

  • Russian Plot To Assassinate CEO Of German Arms Giant Dismissed As 'Fake' Intel Story By Kremlin
    Russian Plot To Assassinate CEO Of German Arms Giant Dismissed As ‘Fake’ Intel Story By Kremlin

    Top German government and political figures have reacted with outrage to a CNN report alleging that Russian intelligence had plotted to assassinate Armin Papperger, who is the head of Germany’s biggest arms company Rheinmetall. The company is among the top European suppliers of 155mm artillery shells, tanks, armored vehicles, and other crucial military equipment to Kiev.

    The Kremlin is calling it fantasy and pointing to zero evidence being presented alongside the major accusation. Here’s how the bombshell CNN report published late this past week began: “US intelligence discovered earlier this year that the Russian government planned to assassinate the chief executive of a powerful German arms manufacturer that has been producing artillery shells and military vehicles for Ukraine, according to five US and western officials familiar with the episode.”

    Armin Papperger, via Bloomberg

    There have been widespread allegations for several months in Western media pointing to an irregular and covert Russian warfare campaign to conduct sabotage missions against European defense and manufacturing companies supplying Ukraine.

    The CNN report alluded to these prior stories: “The plot was one of a series of Russian plans to assassinate defense industry executives across Europe who were supporting Ukraine’s war effort, these sources said.” It detailed further that “The plan to kill Armin Papperger, a white-haired goliath who has led the German manufacturing charge in support of Kyiv, was the most mature.”

    In recent months, there have been several instances of fires engulfing weapons and ammo manufacturing sites in the UK and on the European continent, some of which we detailed previously. Simultaneously, Russia has been subject of similarly mysterious blazes at defense contractor buildings and companies.

    As for the alleged plot to take out the CEO of Rheinmetal, the CNN story is sourced entirely to anonymous intelligence officials, making it impossible to verify at this point, other than taking the word of US, German, and NATO officials. 

    According to more from the original CNN report, “When the Americans learned of the effort, they informed Germany, whose security services were then able to protect Papperger and foil the plot. A high-level German government official confirmed that Berlin was warned about the plot by the US.”

    But Putin’s spokesman Dmitry Peskov rejected the allegations as ‘fake news’: “It’s all presented in the style of another fake story, so such reports cannot be taken seriously,” he said at the end of the week.

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    German Foreign Minister Annalena Baerbock belatedly appeared to confirm that the German government finds the warnings credible. “In view of latest reports on Rheinmetall, this is what we have actually been communicating more and more clearly in recent months: Russia is waging a hybrid war of aggression,” she had told a press briefing at the NATO summit in Washington.

    Papperger himself has since described to the Financial Times that German authorities had imposed a “great deal of security around my person” – and he’s now considered to be the most highly protected private citizen in all of Germany.

    Another interesting aspect to the story is the timing: the CNN revelation corresponded precisely to the close of the annual NATO summit in D.C. at a moment Western officials urged the alliance to stay the course on Ukraine, and commit to supplying more weapons for years to come.

    Tyler Durden
    Sat, 07/13/2024 – 22:45

  • Scientists Find A Cause of Lupus And A Way To Potentially Reverse It
    Scientists Find A Cause of Lupus And A Way To Potentially Reverse It

    Authored by Marina Zhang via The Epoch Times (emphasis ours),

    Patients with lupus have an imbalance in a crucial chemical pathway in their bodies, according to a Nature study published on Wednesday.

    (ART-ur/Shutterstock).

    Researchers found that this imbalance produces more disease-causing cells that promote lupus. If this chemical imbalance can be corrected, they believe lupus can be reversed.

    Current lupus treatments often target symptoms or broadly suppress the immune system, leading to side effects. The researchers believe targeting the specific chemical imbalance identified could more effectively treat lupus without systemic immunosuppression interventions.

    Lupus is a chronic autoimmune disease that causes the body to attack its own tissues and organs, including the joints, skin, kidneys, blood cells, brain, heart, and lungs.  

    There is currently no cure for lupus.

    A Surprising ‘Molecular Switch’

    The chemical that researchers identified is the aryl hydrocarbon receptor (AHR).

    AHR is a key protein involved in the imbalance of immune cells in lupus patients. It regulates the body’s response to environmental pollutants, bacteria, and metabolites. While AHR is present in all cells, it is not always active.

    Researchers found that lupus patients have reduced AHR activity. This reduction leads to an increase in follicular and peripheral T helper cells, which are involved in inflammation and autoimmunity.

    However, when AHR activity increases, these T-cells are reprogrammed to be T-cells that promote wound healing and barrier protection.

    Dr. Jaehyuk Choi, associate professor of dermatology at Northwestern University Feinberg School of Medicine, and the study’s senior author, explained to The Epoch Times that AHR can be compared to “a molecular switch” that determines the fate of immune cells.

    By developing therapeutics that target AHR in rogue T-cells, researchers believe they may be able to reverse lupus.

    Dr. Choi and Dr. Deepak Rao, an assistant professor of medicine at Harvard Medical School, expressed their surprise at discovering that AHR could be vital in reversing autoimmunity, given that the receptor had no known connection to it.

    Dr. Rao, who is also a senior author of the study, added that it was initially surprising to find that a T-cell involved in wound healing would be the opposite of an autoimmune T-cell.

    “Those two T-cell populations with those two functions are not obviously connected or related,” he said. He added that he could not have predicted that when wound-healing T-cells increased, autoimmune T-cells would decrease, and vice versa.

    T-Cells Drive Autoimmunity

    Follicular and peripheral T helper cells have long been known to play a major role in driving lupus, Dr. Rao told The Epoch Times.

    In lupus, the patient’s body produces autoantibodies, antibodies that attack self-tissues. B-cells generate these autoantibodies under the control of rogue autoimmune T-cells.

    Therefore, by converting these autoimmune T-cells into cells involved in wound healing, the production of autoantibodies is reduced, thereby decreasing autoimmunity.

    “It is almost like a cell streamline, where if you can block one part, then the downstream is blocked,” Dr. Choi explained.

    He highlighted the study’s findings demonstrating that adding AHR to rogue T-cells in cell culture transforms them into wound-healing cells. These reprogrammed cells can no longer help B-cells make autoantibodies.

    Dr. Rao added that these rogue T-cells are also present in other autoimmune conditions, like rheumatoid arthritis, raising the question of whether drug targets for these cells may apply to such conditions.

    Treatment Without Immunosuppression

    The study sampled 19 lupus patients and compared their immune cells to those of 19 healthy people.

    Despite the small initial sample size, the authors told The Epoch Times that they believe their findings apply to all patients because they have been corroborated through genetic studies.

    Dr. Choi explained that their findings were also validated in AstraZeneca’s TULIP clinical trials. These trials tested anifrolumab, a drug that interacts with the AHR pathway, and found it successfully controlled lupus symptoms.

    Current lupus treatments are prescribed to resolve symptoms or elicit broad immunosuppressive effects by reducing B- and T-cell activity.

    However, when rogue T-cells are targeted explicitly with AHR, patients may experience disease reversal without compromising their overall immunity.

    Additionally, the increase in cells involved in wound and barrier repair may help alleviate gastrointestinal problems in patients with lupus.

    “There have been a number of studies that have suggested abnormalities in barrier function or barrier integrity in patients with lupus, especially in the gut,” Dr. Rao said. “So one can imagine that there could be a beneficial effect of that.”

    Currently, Drs. Choi and Rao’s team are working to identify specific therapeutics that selectively target only rogue T-cells.

    Since AHR is present in all cells, broad administration of AHR-targeted treatments could cause systemic adverse effects, which the authors are trying to avoid.

    Currently, there are already drugs on the market that activate AHR, such as toparinof, a topical cream approved for treating psoriasis.

    Major Environmental Contributors to Lupus?

    Researchers do not know why AHR is involved in lupus progression. It is also currently unknown why some people get lupus and others don’t, though researchers believe it is a combination of genetic and environmental exposures to toxins and infections.

    Given AHR’s role in responding to environmental factors, Dr. Choi said their findings may suggest that major environmental factors contribute to lupus.

    Perhaps AHR, “which normally integrates information from the outside or the environment … has gone awry in patients with lupus,” and patients may be able to resolve their lupus through lifestyle changes alone, Dr. Choi speculated.

    “I think this needs more research, but it is an interesting idea that we can now think about,” he said.

    Tyler Durden
    Sat, 07/13/2024 – 22:10

  • At Least 90 Dead In Israeli Strike On Gaza Tent Camp Targeting Hamas Oct.7 Mastermind
    At Least 90 Dead In Israeli Strike On Gaza Tent Camp Targeting Hamas Oct.7 Mastermind

    Another mass casualty strike has been reported on a refugee camp in southern Gaza, where the local health ministry says at least 90 have been killed, and 300 injured, after Israeli missiles slammed into Al-Mawasi camp, allegedly hitting tents where displaced persons were staying.

    Israel has said that most of the victims were likely Hamas, and that it was going after the leader of the group’s Qassam Brigades, Muhammad Deif, a mastermind behind the Oct.7 attacks. Throughout the day Saturday the military said it was still investigating whether Deif was killed, of which there’s as yet been no confirmation.

    Aftermath of Israeli attack on a tent camp in Al-Mawasi area near the coast in southern Gaza, via Reuters.

    Hamas responded by saying Israel’s “allegations about targeting leaders are false” and by design are “merely to cover up the scale of the horrific massacre.”

    According to some fresh updates in the NY Times:

    • The Israeli officials said the strikes had also targeted Rafah Salameh, the top Hamas commander in Khan Younis, who was with Mr. Deif at the time of the attack.

    • The Gazan authorities said that a second, smaller strike hit the center of Khan Younis, a nearby city to the east of Mawasi.

    • A senior American official said that Israel had told Washington that it targeted Mr. Deif, but the official said that neither Israel nor the United States could yet confirm his status.

    Saudi Arabia has been among the earliest countries to weigh in, condemning the Israeli attack on the refugee camp.

    “The Foreign Ministry condemns in strongest terms the continuation of genocidal massacres against the Palestinian people at the hands of the Israeli war machine, the latest of which was the targeting displaced people’s camps in Khan Younis in the south of the Gaza Strip,” the Saudi statement said.

    Hardliners in Netanyahu’s coalition government have praised the strike, saying it demonstrates the need to keep intensifying operations inside Gaza. “Congratulations to the prime minister, defense minister, the IDF, and Shin Bet. Now is not the time to take the foot off Sinwar’s neck,” Finance Minister Bezalel Smotrich wrote on X.

    Despite the Biden White House claiming that there’s been tentative agreement on a new ceasefire deal mediated by Qatar and Egypt, the warring sides are still publicly blaming the other for lack of a finalized hostage deal.

    Meanwhile, Hamas is urging Palestinians in the West Bank to rise up against the Israeli occupiers en masse. Senior Hamas official Abdel Hakim Henini in a statement called on Palestinians to “take action against the onslaught on their compatriots in the besieged Strip, and to stand up to Israeli settlers wreaking havoc across the West Bank.”

    Initial graphic scenes of the camp strike aftermath via Palestinian media…

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    “We reiterate how important it is for Palestinian youth to stand up to the occupying forces,” Henini said. “A global war is being waged against the Palestinian people, their rights and their resistance forces. The US administration is a true partner in all the massacres being perpetrated against our people.”

    Simultaneously Hezbollah continues to bog down Israeli forces in the north, and it appears Hamas is hoping that a multi-front war more fully opens up. Hezbollah leadership has said that if Hamas agrees to a ceasefire deal, it too will halt its attacks from Lebanon.

    Tyler Durden
    Sat, 07/13/2024 – 21:35

  • Army Base Taught Soldiers That Pro-Life Groups Are Terrorists; Watchdog
    Army Base Taught Soldiers That Pro-Life Groups Are Terrorists; Watchdog

    Via The College Fix,

    A U.S. Army base training presentation described two pro-life organizations as “terrorist groups,” according to a watchdog report confirmed by the military.

    The training material was part of an “anti-terrorism brief” at Fort Liberty, formerly Fort Bragg, in North Carolina, independent journalist Sam Shoemate reported on X. The report does not indicate when the presentation happened.

    According to the photo, a slide shown to soldiers described two pro-life organizations, National Right to Life and Operation Rescue, as “terrorist groups.”

    It also “falsely attribute[d] the bombing of abortion clinics to National Right to Life,” the report states.

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    The slide also showed an image of specialty pro-life license plates, which are available in many states. The proceeds fund pregnancy support services for families in need, according to Choose Life America, the organization that promotes them.

    However, the slide suggested the specialty plates are something soldiers should watch for as a potential sign of a terrorist, according to Shoemate’s report.

    Soldiers who attended the presentation said the slide was shown right after another one about ISIS, and the presentation never mentioned the group Antifa, the report states.

    Fort Liberty confirmed the veracity of the slide in a statement on social media late Thursday. It stated the slide will not be used anymore.

    A “local garrison employee” created the presentation “to train Soldiers manning access control points at Fort Liberty,” according to the statement.

    “After conducting a commander’s inquiry, we determined that the slides presented on social media were not vetted by the appropriate approval authorities, and do not reflect the views of the XVIII Airborne Corps and Fort Liberty, the U.S. Army or the Department of Defense,” the military base stated. “… all future training products will be reviewed to ensure they align with the current DoD anti-terrorism guidance.”

    National Right to Life described the slide as “lazy scholarship” that promoted “outright lies” in a statement online. It noted the presentation misspelled the name of the U.S. Supreme Court’s 1973 abortion decision Roe v. Wade.

    “The Biden Administration promotes the deaths of preborn babies and advocates for unlimited abortion, but peaceful pro-life Americans are labeled ‘terrorists,’” it stated.

    The national pro-life organization stated it “always, constantly, and unequivocally” condemns violence “against anyone.”

    Meanwhile, a University of Maryland center also listed two members of Students for Life of America in its terrorism database earlier this year, The College Fix reported. The university later removed them.

    Military academies also have been accused of going woke by embracing “diversity, equity,” and “inclusion” efforts and teaching cadets critical race theory.

    In 2022, the U.S. Military Academy at West Point began removing references to Confederate leaders, including General Robert E. Lee, a former superintendent of the school, The Fix reported at the time.

    Tyler Durden
    Sat, 07/13/2024 – 21:00

  • Measles Detected At NYC Migrant Shelter As Biden's Border Crisis Morphs Into Public Health Crisis
    Measles Detected At NYC Migrant Shelter As Biden’s Border Crisis Morphs Into Public Health Crisis

    The Biden administration’s disastrous open southern border policies have sparked an illegal alien invasion, raising the risk of contagious diseases spreading across the US.

    For some context, several months ago, Trump vowed to deport ‘nearly 20 million’ illegal migrants after Biden shredded his Executive Orders on border security on his first day in office. In total, Customs data suggests that at least 10 million illegals have crossed into the US illegally during Biden’s first term.

    That said, the Biden admin has had zero problems facilitating the illegal alien invasion, many of whom are unvaxxed and unvetted folks from third-world countries, and likely bringing contagious diseases to migrant shelters in sanctuary cities.

    In early March, we pointed out in a viral post… 

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    … really who could’ve seen this coming. 

    A new report sheds light on spreading measle cases, this time in city-run migrant shelters in New York City.

    Here’s more from local media outlet ABC 7: 

    Two measles cases have been identified among people living at one of the city’s migrant shelters, New York City health officials said.

    …

    According to the health department, there are 11 cases of measles in New York City as of July 12.

    There was only 1 confirmed case in the city last year.

    The Hall Street migrant shelter has been a point of contention for Clinton Hill residents who have complained of an uptick in trash, noise and street homelessness under the Brooklyn-Queens Expressway.

    The measles cases could add to those concerns because of how contagious it can be.

    Here’s what X users are saying about measle outbreaks thanks to unvaxxed and unvetted illegal aliens:

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    Claim: “In NYC there are over 200+ migrant shelters…” 

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    Americans are overwhelmingly not happy about Biden’s migrant crisis. 

    Tyler Durden
    Sat, 07/13/2024 – 20:25

  • New Hormone Discovery Unlocks Hope For Osteoporosis Treatment
    New Hormone Discovery Unlocks Hope For Osteoporosis Treatment

    Authored by Sheramy Tsai via The Epoch Times (emphasis ours),

    (Crevis/Shutterstock)

    Researchers have identified a new hormone, CCN3, that significantly strengthens bones. This discovery, made while studying how breastfeeding women maintain bone density, could transform the treatment of osteoporosis and bone fractures.

    Published in Nature, the new study reveals that CCN3 promotes bone formation and repair in both male and female mice, offering new hope for millions suffering from bone-related conditions.

    About the Study

    Researchers at University of California (UC) San Francisco (UCSF) and UC Davis collaborated to solve a long-standing medical mystery: how breastfeeding women maintain strong bones despite the significant loss of calcium needed for milk production.

    In lactating mothers, the high demand for calcium needed for milk production can lead to significant bone loss. Normally, estrogen is protective for women, helping to counteract bone loss by promoting bone formation. However, its levels drop sharply during breastfeeding. Despite this drop, breastfeeding women seldom experience osteoporosis or bone fractures, suggesting another factor is at work to protect their bones.

    Previous research published in Nature found that blocking a specific estrogen receptor in certain brain neurons of female mice led to significant increases in bone mass. Suspecting a hormone in the blood was responsible, the study researchers conducted an exhaustive search and identified a hormone called Cellular Communication Network Factor 3, or CCN3, as the bone-building factor in these mutant females.

    Dubbed the “lactation-induced brain hormone,” CCN3 is found in the brains of lactating mice and plays a crucial role in maintaining bone strength during lactation.

    “One of the remarkable things about these findings is that if we hadn’t been studying female mice, which unfortunately is the norm in biomedical research, then we could have completely missed out on this finding,” Holly Ingraham, senior author of the new study and professor of cellular molecular pharmacology at UCSF, said in a press release.

    The researchers discovered that increased CCN3 levels in mice showed significant bone mass and strength improvements, even in older mice and those lacking estrogen. Tests demonstrated that mice with higher CCN3 levels had much stronger bones, as the CCN3 hormone stimulated skeletal stem cell activity. Without CCN3, these mice rapidly lost bone density, and their offspring also suffered.

    Dr. Sundeep Khosla, a Mayo Clinic physician who runs the Osteoporosis and Bone Biology Laboratory, explained the significance of CCN3, known as the “maternal brain hormone” to The Epoch Times. “Anytime you identify a completely new pathway to regulate bone from the brain, that’s scientifically very interesting.”

    Dr. Khosla noted that CCN3 prevents the skeleton from dissolving during lactation while stimulating bone formation for new calcium deposition. “It adds another piece to our understanding of what happens with lactation.”

    Impact on Osteoporosis

    Osteoporosis, a condition characterized by weakened bones and an increased risk of fractures, is a significant global health issue. According to the U.S. Department of Health and Human Services, an estimated 10 million Americans have osteoporosis, with women comprising 80 percent of those affected. Additionally, the Centers for Disease Control and Prevention reports that about 44 million people have low bone mass, putting them at increased risk for osteoporosis.

    Globally, osteoporosis affects around 200 million people, leading to millions of fractures annually, primarily in the hip, spine, and wrist. These fractures can cause severe pain, disability, and increased mortality, underscoring the urgent need for effective treatments such as those potentially offered by CCN3.

    The financial burden of osteoporosis, estimated to cost $25 billion annually in the United States, could be significantly alleviated by treatments derived from CCN3.

    Dr. Khosla highlighted the potential of CCN3 in addressing osteoporosis, emphasizing its scientific promise and economic implications. While current drugs are effective when used correctly, they are often underutilized due to fears of side effects, he said. He stressed the need for better education for both physicians and patients to optimize the use of these cost-effective treatments.

    “New drugs that may result from CCN3 could be particularly beneficial for those with osteoporosis” he stated. Depending on the cost of the drug, it could potentially reduce the substantial financial burden of osteoporosis.

    Potential Benefits and Future Applications

    The discovery of CCN3’s role in bone health extends beyond understanding lactation. This hormone could have significant implications for accelerating fracture repair and treating osteoporosis.

    In a conversation with The Epoch Times, lead author Dr. Muriel Babey explained that researchers developed a hydrogel patch that slowly releases CCN3 at bone fracture sites, leading to faster and stronger healing in elderly mice. The treated fractures healed much quicker and were stronger than those without the hormone treatment.

    “We’ve never been able to achieve this kind of mineralization and healing outcome with any other strategy,” said Dr. Thomas Ambrosi, a co-author of the study from UC Davis in the press release.

    While the current study focuses on mice, the implications for human health are promising. The next steps include clinical trials to test CCN3’s effectiveness in humans and further exploration of its potential applications in bone health treatments.

    Dr. Khosla highlighted the limitations of current osteoporosis treatments. While drugs like bisphosphonates can prevent bone loss, the ability to reverse osteoporosis is still limited.

    “We need new approaches to build bone back up,” Dr. Khosla stated, noting that existing drugs often stop working over time. He expressed hope that CCN3 could offer more sustained and robust effects in stimulating bone formation, possibly in combination with other treatments.

    Dr. Babey explained that bone loss affects not only post-menopausal women but also breast cancer survivors taking hormone blockers, younger elite female athletes, and older men, who have a lower survival rate after hip fractures compared to women. If CCN3 could increase bone mass in all these groups, it would be a significant breakthrough.

    With clinical trials on the horizon, CCN3 holds promise for revolutionizing bone health treatment and improving the quality of life for millions worldwide.

    Tyler Durden
    Sat, 07/13/2024 – 19:50

  • Tulsi Gabbard Gets Real About The Veepstakes, Demplosion, And America's Future
    Tulsi Gabbard Gets Real About The Veepstakes, Demplosion, And America’s Future

    Authored by Ben Sellers via Headline USA,

    If Tulsi Gabbard is the running mate whom presumptive GOP presidential nominee Donald Trump is expected to unveil next week during the Republican National Convention, she had yet to be notified as of Friday night.

    Tulsi Gabbard / PHOTO: Ben Sellers, Headline USA

    Asked in an exclusive interview with Headline USA whether she was going to be traveling to the GOP convention in Milwaukee, she replied, “I don’t plan to at this time. We’ll see what happens.”

    Of this much, one can be certain: Gabbard was being her usual forthright self.

    “She will look you in the eye and she will tell you the truth,” said former Rep. Mark Walker, R-N.C., shortly thereafter, during the introduction of his former congressional colleague at a book-signing event and political fundraiser in Greensboro, N.C., which also featured state-level candidates including lieutenant gubernatorial nominee Hal Weatherman.

    In an era where gaslighting is the norm, Walker’s characterization of Gabbard would be a powerful testament to anyone. Although it may seem simple, underpinning those 14 words is a reputation that is very difficult to earn—and even more difficult to retain.

    More remarkable yet, however, is that Walker was making it of a one-time nemesis of sorts, none other than the former vice chair of the Democratic National Committee.

    If ever the Trump administration were taking a risk on letting a mole into its ranks, on paper at least, Gabbard, the red-pilled ex-representative from Hawaii, would be a likely candidate.

    Yet, time and again Gabbard has proven herself to be an anomaly who flouts expectations while following her own moral compass, most notably in her disavowal of the Democratic Party in October 2022.

    “Today’s Democratic Party is led by this elitist cabal of warmongers, and in my book, For Love of Country, I go into detail in my own personal experiences and the reasons why I could no longer call myself a Democrat,” she told Headline USA—a statement that closely tracked with her original blog post outlining those reasons.

    However, Gabbard is far from unique in that regard. In fact, she noted that she encountered ex-Democrats on an almost daily basis reaching out to her in solidarity.

    Much like Ronald Reagan famously quipped in 1962, they often feel that the party left them.

    “The Democratic Party of today is wholly unrecognizable to the party that I joined over 20 years ago,” Gabbard said.

    “And I hear from or meet Democrats from across the country, almost every day—whether people send me a DM on Instagram or send me an e-mail, or I run into them in the airport—who express the same thing,” she continued. “People who may have been lifelong Democrats or people who were raised in a Democrat family, just saying that they don’t recognize today’s Democrat party and they have no connection to the insane, woke, warmongering policies of today’s Democratic Party.”

    In a question-and-answer session with Walker, Gabbard offered a similar reflection, recalling how she was once berated by the Obama administration for daring to question its foreign policy.

    And she recalled her frustration with the Democratic mantra “vote blue, no matter who.”

    Gabbard told the packed house on Friday—many of whom paid $100 for entry to the event, which included a copy of the book to be signed by Gabbard, as well as catered refreshments from host venue the Painted Plate—that American freedoms currently faced what seemed to be an unparalleled threat in the nation’s history.

    “Growing up, I never would have imagined that we would be debating free speech in America and whether or not it should exist,” she said, referencing the Supreme Court’s recent decision in Murthy v. Missouri, which said the government did nothing wrong in colluding with social-media companies like Facebook and Twitter to suppress vital information about the COVID-19 pandemic, Hunter Biden laptop, 2020 election and more.

    As Walker noted in his introduction to Gabbard, she has done more than simply cultivate a sterling reputation as a truth-teller—she’s turned it into a veritable brand.

    Because of her candor, honesty, integrity and valor (serving as a lieutenant colonel in the U.S. Army and currently as an active military reservist), she has become the very antithesis of the modern leftist in the Biden era.

    Thus, it comes as no surprise that Gabbard has been called upon frequently to comment on the recent implosion of the Biden campaign following President Joe Biden’s disastrous debate with Trump last month.

    Although she has every reason to feel vindicated by it, given her own tumultuous history with the Democrats, Gabbard said it was no cause for joy, even seeming to take pity on Biden—whom she said she has “known … for a long time”—despite his extensive track-record of corruption during his more lucid moments.

    “What we are seeing is the lies coming from the Democrat elite have been exposed,” Gabbard told Headline USA. 

    “We are seeing how, in broad daylight, it is not actually Joe Biden making the decisions and calling the shots—whether it be related to economic or foreign policy—it’s the Tony Blinkens and the Jake Sullivans and the Hillary Clintons and Lloyd Austins who are making these decisions, which should be troubling to every American because we didn’t vote for any of those people,” she added.

    On one hand, Gabbard seemed alarmed at the idea of having an empty vessel at the Resolution Desk, noting it was “a huge problem for us as Americans to have someone in that position who is incapable of fulfilling that responsibility.”

    She said she was particularly troubled that the commander in chief could not even recall during the debate the 13 service members whose lives were lost in Afghanistan and the three whose lives were lost in Jordan—among the known U.S. military casualties to occur on Biden’s watch, although others are likely to have fallen in America’s shadow war in Ukraine.

    “He couldn’t even remember a single one of their families,” Gabbard said.

    “He should not be in that position, but we also shouldn’t be under any kind of illusion that, should he be forced out or choose to leave, that anything will be different with a President Kamala Harris or anyone else that they choose to fill that position,” she continued. “The Deep State—the military industrial complex—they will continue calling the shots. They only care about power. They don’t care whose face—whose picture is hanging on the wall.”

    As for the prospects of her own service in the Trump administration, Gabbard didn’t rule out the possibility that she might yet have an outside shot at the running-mate offer, even though Trump’s campaign has floated several other names as finalists.

    “I think that is a question for one man and one man alone,” she said.

    “It’s not something I’m thinking about,” she added. “My goal—this is the most important election of of our lifetimes because it is our freedom, and our safety and security, that’s on the line.”

    Gabbard said that one position she would love to be offered was the role of secretary of State, citing her eight years of service in Congress on the House Foreign Affairs and Armed Services committees—as well as her more than two decades in uniform, including as a current battalion commander.

    “I could directly wrestle control away from the military–industrial complex and the neocons of Washington and actually be in a position to help effect the kind of policies President Trump talks about: to actually bring about peace, to walk us back from the brink of nuclear war—an issue he talks about quite strongly and with great concern—and to get our country back on track,” she said.

    In her interview with Walker, Gabbard said that wherever the years ahead may take her, and whatever may happen in the most important election of our lifetimes, she will continue to serve to the best of her ability.

    “Whatever role, whatever opportunity, whatever title or position I have, my goal is to try to be of the best service I can to our country,” she said.

    Ben Sellers is the editor of Headline USA. Follow him at twitter.com/realbensellers.

    Tyler Durden
    Sat, 07/13/2024 – 18:40

  • Democratic Donors Freeze $90 Million In "Coordinated Rebellion" Against Biden
    Democratic Donors Freeze $90 Million In “Coordinated Rebellion” Against Biden

    Authored by Steve Watson via Modernity.news,

    The New York Times is reporting that the largest Democratic super PAC is freezing $90 million in pledged donations for as long as Joe Biden remains the nominee.

    “Some major Democratic donors have told the largest pro-Biden super PAC, Future Forward, that roughly $90 million in pledged donations is now on hold if President Biden remains atop the ticket, according to two people who have been briefed on the conversations,” The Times report states.

    The moves comes after another car crash appearance where Biden called Kamala Harris ‘Vice President Trump’ and introduced Zelensky as “President Putin.”

    The leftist media talking heads are also now bickering among each other about how brain damaged Biden is.

    There are some absolutely wild stories being bandied around.

    Will Biden jump or will he be pushed?

    Meanwhile, it has emerged that Elon Musk has donated a “sizable amount” of money to a pro-Trump super PAC called America PAC.

    Bloomberg reports “Musk has contributed to a low-profile group called America PAC, according to people familiar with the matter, who requested anonymity to detail his plans. It’s unclear how much Musk has given, but the people characterized the figure as a sizable amount. The PAC is next required to disclose its list of donors on July 15.”

    Musk has been outspoken in his opposition to the Biden Administration’s open border policy.

    *  *  *

    Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

    Tyler Durden
    Sat, 07/13/2024 – 17:30

  • Poland Authorizes Deadly Force On Border After Spear-Throwing Migrants Murder Guard
    Poland Authorizes Deadly Force On Border After Spear-Throwing Migrants Murder Guard

    The Poland-Belarus border crisis has intensified over the past month, following the death of a Polish border guard at the hands of a spear-throwing migrant. The death of 21-year-old border guard Sgt Mateusz Sitek on June 6th garnered national and international attention, after days prior to his succumbing to his wounds a sharp spear was hurled from the fence where he was on patrol. 

    The Telegraph has described that the mostly Middle East/North African (MENA) migrants on the Belarusian side are growing violent and more aggressive. “Dozens of illegal migrants on the Belarusian side of the border with Poland hurled a volley of makeshift spears at Polish border guards through the five-metre-high steel fence,” the report said.

    “Some fell short of their targets and as the security forces picked them up they saw what appeared to be a tree branch with a steel blade taped to the top.” In the attack, “Several were injured in the bombardment and one – Sgt Mateusz Sitek, a 21-year-old from the village of Nowy Lubiel – lost his life.” The stabbing happened on May 28, leaving the guard critically injured. Video of the immediate aftermath showed migrants trying to kill another soldier who was attempting to administer aid to Mateusz…

    The Telegraph concluded, “They may be incredibly crude, but the weapons show a new level of organization and intent from the waves of migrants arriving at the gates of the EU through Belarus.”

    Warsaw has long accused the government of Aleksandr Lukashenko of facilitating the border crisis by flying Middle East migrants into Minsk, and transporting them to the Polish border. The EU has also condemned the alleged ‘hybrid warfare’.

    Spokesman for Poland’s border patrol, Colonel Katarzyna Zdanowicz, has said, “We took an oath to defend our country with the sacrifice of our lives. But no one expected it to be like this. After the death of this young soldier, we understood how realistic our oath was.”

    Hundreds have continued to try and force their way across the border, authorities have described, in a situation which noticeably intensified starting in April this year (amid at least two years of border tensions). Some pundits are openly blaming Putin and say that it is all connected with the Ukraine war.

    There has been growing pressure on the Polish government to loosen up rules of engagement and the ability of troops to defend themselves on the border. Regional media is saying parliament has approved firing upon attacking migrants in self defense.

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    The bill amends existing laws to remove liability for “a crime committed by a soldier, police or border guard officer who, in violation of the rules on the use of direct coercive measures and firearms, issues an order to use them or uses them himself in specific cases – if the situation requires immediate action.”

    The new rules of engagement apply to four specific situations, summarized in the following:

    The first is in cases requiring an officer to “repel a direct and unlawful attack on the inviolability of the state border by a person who forces a crossing of the state border using a vehicle, firearm or other dangerous object”.

    The second is in cases of self-defence: “to repel a direct and unlawful attack on the life, health or freedom of a soldier, police or border guard officer or other person, undertaken in the event of a direct and unlawful attack on the inviolability of the state border.”

    The third relates to cases of pre-emptive self-defence in which there is a need to “prevent activities aimed directly at attacking the life, health or freedom of a soldier, police or border guard officer or other person, in the event of a direct and unlawful attack on the inviolability of the state border”.

    The fourth would cover situations in which “it is necessary to confront a person who does not comply with a request to immediately abandon a weapon, explosive or other dangerous item, the use of which may threaten the life, health or freedom of that soldier”.

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    All of this is in direct response to the border guard’s death in June, and the fact that migrants using deadly weapons is a phenomena clearly documented and on the rise.

    Below: Spears have been hurled at Polish troops, police, and border guards…

    Likely European Union leadership will push back against the new policies, as it is also expected to do with Finland, which has also given border troops more enforcement power.

    Tyler Durden
    Sat, 07/13/2024 – 16:55

  • Google, Facebook 'Kool-Aid' Starting To Wear Off: CEO
    Google, Facebook ‘Kool-Aid’ Starting To Wear Off: CEO

    Authored by Daniel Y. Teng via The Epoch Times (emphasis ours),

    Kwik Kopy’s CEO Sonia Shwabsky says the ubiquity of the online world, powered by Google and Facebook, is compelling business owners and marketing managers to rethink how they connect with customers.

    Sonia Shwabsky, CEO of Kwik Kopy, one of Australia’s most well-known print and copier businesses with over 100 stores across the country. (Courtesy of Kwik Kopy)

    Instead, a renewed yearning for face-to-face interaction in the post-COVID years is galvanising the fortunes of one of Australia’s longest-running franchise brands.

    Unlike other businesses struggling or closing due to the cost of living crisis—and amid high inflation pushing up business costs—the printing company is looking at expanding.

    “I don’t think there’s a move away from [Google and Facebook’s online advertising]. I think people are just evaluating it more diligently than before,” she told The Epoch Times.

    “One of the things we’ve been seeing is digital advertising is costing a lot more. It’s having less effect than what it used to. I think the effectiveness of emails, and all of these electronic data-driven advertising or communication tools, I think they’ve kind of had their heyday,” Ms. Shwabsky said.

    The two tech giants are estimated to absorb 58 cents (US$0.39) of every dollar of digital advertising spent in Australia, according to the Australian Competition and Consumer Commission (ACCC).

    Their popularity has also driven up the unit price of advertising over the years.

    “I came over from being a [chief operating officer] in the U.S. at a digital marketing agency, and at the time, I was there drinking the Google Kool-Aid,” Ms. Shwabsky said.

    “Google and Facebook have really put a lot into this narrative, and I think other areas of marketing have just got to stand up and say, ‘Hang on.’”

    The CEO said there was a lot at play in the digital space, particularly with the advent of artificial intelligence, which could compel people to use the internet in different ways.

    A 3D-printed logo of Facebook’s parent company Meta is seen in front of the Google logo in an illustration on Nov. 2, 2021. (Dado Ruvic/Reuters)

    Kwik Kopy currently has 91 stores across Australia and is planning another 30. Its overall goal is to have 120 stores with 11 in regional areas, and 32 in suburban spots.

    Kwik Kopy provides design and printing for business cards, signage, and brochures.

    The management team also hopes to ramp up revenue by 10 percent from its pre-COVID performance. The brand currently pulls in $77 million per year.

    The business praises the performance of its franchise network, particularly local owners who are grounded in the social fabric of their regions, notably stores such as Penrith, North Sydney, and Perth.

    Interest in Physical Engagement

    CEO Ms. Shwabsky says on another front, her company is riding a wave of renewed interest in face-to-face events and customised physical products.

    “If you think about all the online businesses now, like e-commerce, the only physical touchpoint your brand has with a consumer is through that unboxing experience and what they receive in the mail,” said Ms. Shwabsky.

    She says the demand for personalisation has increased noticeably in the last five years and has driven Kwik Kopy’s short run packaging (small volume order) business.

    “Personalisation, as well as an increase in quality, while also making sure the experience is of the quality to represent your brand [has become important]—because it’s the only other touch point besides the computer.”

    The front entrance of a Kwik Kopy store in Hurstville, Sydney Australia on July 3, 2024. (A. Chiang/The Epoch Times)

    Kwik Kopy’s boss also said that in the post-pandemic era, the downsizing of commercial offices—as companies reorganise to facilitate working from home—has also been a boon.

    “What do you need to do when you move offices or change your office environment? You need more signage in your office, you need to make your office feel more welcoming to get people to return,” Ms. Shwabsky said.

    “The other area coming out of COVID that’s been reignited—and we’ve done a lot of studies with marketing buyers and where they’re spending their money—is they are investing at a greater rate in face-to-face events,” she added.

    The CEO said demand for events-related collateral means more sales of pull-up banners, paper handouts, or branded merchandise.

    “While there may be downturns and staff cuts, businesses still need to think about their marketing dollars,” she said. “You’ve just got to be more careful about what’s really going to have impact for your business.”

    Her comments come as a string of major brands in Australia cut back or downsize their operations amid a range of challenges engulfing the business sector.

    Business Environment Beset on All Sides

    Centre-right Liberal Party MP Casey Aaron Violi last month blamed the Fair Work Commission’s decision to raise the minimum wage on Labor government policy contributing to high inflation.

    “It is the equivalent of burning someone’s house down, taking them a casserole for dinner and saying: ‘Sorry I burnt your house down, here’s a casserole, please be thankful, please be grateful,’” he said in a criticism of the government.

    Higher wage bills are only one area the business sector is contending with, another is soaring electricity costs, worker shortages, and the ever-expanding regulatory burden.

    In early June, the Florida-based Carnival Corporation made the surprise decision to shelve 90-year-old Australian cruise brand, P&O Cruises, citing significant red tape eating into the company’s margins.

    A partial view of the Pacific Explorer cruise ship operated by P&O Cruises, departing from the Overseas Passenger Terminal on June 6, 2024, in Sydney, Australia. (Jenny Evans/Getty Images)

    “Given the strategic reality of the South Pacific’s small population and significantly higher operating and regulatory costs, we’re adjusting our approach to give us the efficiencies we need to continue delivering an incredible cruise experience year-round to our guests in the region,” Carnival CEO Josh Weinstein said.

    At the same time, a major Australian fruit processor, SPC, announced it would cut back its order of local peaches and pears by 40 percent, a move likely to ripple through the wider growing industry.

    The Victorian-based global exporter said sales had dropped because customers were shifting to cheaper Chinese and South African imports due to cost of living pressures.

    The company hopes the situation can normalise by 2026.

    Across the wider business sector, the picture is not optimistic either, with CreditorWatch finding insolvencies up 38 percent over the year to May 2024, and 41 percent above the pre-COVID period, according to ASIC data.

    Among the industries, utility businesses involved in electricity, gas, water, and waste were the hardest hit recording an 89 percent increase in insolvencies on the previous year.

    This was followed by education (87 percent), mining (72 percent), construction (46 percent), and retail trade (46 percent).

    “We have known for some time now that consumers have pulled back on spending quite dramatically as high interest rates and inflation smashed household budgets,” said CreditorWatch chief economist Anneke Thompson, in a statement.

    “This trend took some time to flow through to businesses but is now showing up in the data in the form of increasing late payment rates and rising court actions, as well as increased business failures and insolvencies.”

    Tyler Durden
    Sat, 07/13/2024 – 16:20

  • Biden's HHS Forces Foster Parents To Facilitate Sex Changes For Minors, Barring Christian Adoption
    Biden’s HHS Forces Foster Parents To Facilitate Sex Changes For Minors, Barring Christian Adoption

    Christians have long been the driving force behind adoption in America, continuing to run 65 percent of the 200,000 foster homes in the U.S. today. One particularly moving example inspired a new film from the makers of mega-hit film “Sound of Freedom”.

    “Sound of Hope” tells the story of Bishop W.C. Martin and his wife Donna Martin who inspired their entire congregation in East Texas to adopt every child in the county’s foster care system during the late ‘90s. The film is currently in theaters.

    Such uplifting stories may soon be scarce as basic Christian views are coming under fire from Biden admin health regulators.

    To wit, Biden’s Department of Health and Human Services (HHS) issued a new rule in April that — by the end of 2026 — required states forbid a percentage of their foster homes from adopting to parents who do not agree to affirm a trans child’s gender identity or refuse to assist the child’s sex change. The percentage is unspecified.

    Under the new rule governing designated foster homes:

    “First, the provider must commit to establishing an environment that supports the child’s LGBTQI+ status or identity. Second, the provider must be trained with the appropriate knowledge and skills to provide for the needs of the child related to the child’s self-identified sexual orientation, gender identity, and gender expression. Third, the provider must facilitate the child’s access to age- or developmentally appropriate resources, services, and activities that support their health and well-being. HHS has concluded that these conditions are generally necessary to effectuate the statutory promise of a safe and appropriate placement for children who are LGBTQI+ because of the extensive evidence of the specific needs LGBTQI+ children have which require more specialized support,”

    The initial proposal put forth by HHS last fall suggested that all foster care facilities country-wise adhere to the above criteria, but its implementation was slightly tempered after the department received more than 13,000 public comments and backlash from some members of Congress. Still, in its current form — and assuming the 15 percent compliance rate suggested by HHS — as many as 30,000 foster homes will soon be forced to facilitate sex changes in minors.

    Roughly 78 percent of Americans do not support sex changes for minors, and are therefore unfit adopt children in the eyes of Biden’s HHS. The law will further alienate Christian foster parents — who are already being stonewalled in states with similar legislation already in place.

    Last year in Oregon, a Christian mom of five was barred from adopting two additional children due to her refusal to assist one in receiving cross-hormone injections. Her refusal did not adhere to Oregon’s law that foster parents must “support” a child’s “sexual orientation, gender identity, [and] gender expression.”

    Despite the overwhelming populist support against these initiatives, Hollywood remains in steadfast support of “gender affirming care” in minors. Singer Ariana Grande started a fund “advocating for the rights of trans youth” which has raised more than $3 million to date.

    Following an X post by conservative Matt Walsh praising her new film, Sound of Hope actress Letitia Wright — also the star of Disney’s Black Panther — attempted to distance herself from the film’s producers due to their conservative views, saying she “[does] not condone using this beautiful film for divisive political purposes.”

    Sound of Hope Pushing Back Against Hollywood

    President of Angel Studios (creator of Sound of Hope) Jordan Harmon responded to Wright’s backpedaling in a statement to ZeroHedge.

    “This powerful film takes a stand for vulnerable kids, and we’re pursuing partners who are passionate about this fight,” Harmon told ZeroHedge. “We encourage everyone concerned about the foster care and adoption crisis to get involved and see SOUND OF HOPE.”

    Major Hollywood studios dominate the movie industry, accounting for roughly 75% of total box office revenue. 

    Tickets for Sound of Hope can be purchased via this link. It’s currently in theaters across the country.

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    Tyler Durden
    Sat, 07/13/2024 – 15:45

  • DOJ Filed Brief In Support Of Trans Inmate Who Sent Bomb To The DOJ
    DOJ Filed Brief In Support Of Trans Inmate Who Sent Bomb To The DOJ

    Authored by Ken Silva via Headline USA,

    Headline USA has uncovered the identity of an anonymous Georgia prison inmate suing the state for a sex change, and can reveal that the plaintiff is a convicted violent sodomizer who was indicted in April on multiple federal charges for constructing and mailing bombs to federal facilities.

    David Cassady. PHOTO: Georgia DOC

    The plaintiff, David Cassady, 55, an inmate at Phillips State Prison in Georgia, is represented by the big law firm Baker Botts, as well as the Murell Law Firm and the Florida-based group Rights Behind Bars. Additionally, the ACLU and the Justice Department have filed amicus briefs in support of Cassady’s lawsuit.

    Ironically, the DOJ filed its brief in support of Cassady in January, while the inmate was presumably still under DOJ investigation for alleged bomb-making. Even more ironically, the inmate was under investigation for sending a bomb to 1400 New York Avenue NW in Washington, D.C.—a building that houses a DOJ office.

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    In other words, the DOJ filed an amicus brief in support of an inmate who apparently tried bombing the DOJ, according to the DOJ. To add a drop of stupidity, the DOJ refers to Cassady as a female in the sex-change litigation, but calls him a man in the bombing case.

    The DOJ declined to comment, while the non-profit groups didn’t respond to an email inquiry. Georgia’s Department of Corrections also declined to comment, citing the pending litigation.

    As Headline USA reported in May, a U.S. district judge ordered the Georgia DOC to provide Cassady—who was still anonymous at the time—with “breast and buttock padding.” That judge did deny Cassady’s motion to be transferred to a female prison, noting that the inmate was transferred to Phillips State Prison—a “Special Mission Facility”—in 2022, specifically because that facility was “uniquely situated to manage Plaintiff, given her history of violence.”

    Headline USA was able to uncover Cassady’s identity thanks to a recent affidavit filed by attorney Thomas Vaseliou, one of the attorneys representing Georgia DOC.

    In his affidavit filed on Wednesday, Vaseliou referenced several exhibits still under seal, including a court record of Plaintiff’s conviction in 1988 for aggravated sodomy; court record of Plaintiff’s conviction in 2020 for violation of the Street Gang Terrorism and Prevention Act; and an April 4, 2024, press release announcing the most recent indictment against the inmate. Headline USA found that April 4 press release, which identified Cassady.

    “Cassady was an inmate in the now-closed Georgia State Prison in Reidsville, Ga., in Tattnall County, when he constructed destructive devices and mailed two of them via U.S. Mail to the United States Courthouse and Federal Building in Anchorage, Alaska, and to a federal facility at 1400 New York Avenue NW in Washington, D.C.,” the DOJ’s press release said, identifying Cassady as a man.

    According to the DOJ’s website, 1400 New York Avenue NW is the Bond Building, where packages are sent for the DOJ’s “Fraud Section, Criminal Division.”

    “The indictment alleges the bombs were sent in an attempt ‘to maliciously damage or destroy, by means of fire or explosive, a building in whole or in part owned or possessed by, or leased to, the United States,’ and ‘created substantial risk of injury to a person,’” the DOJ said in its press release.

    According to the DOJ’s indictment, Cassady’s bomb-making occurred from September 2019 to January 2020. He faces one count of making an unregistered destructive device, two counts of mailing a destructive device, and one count of attempted malicious use of an explosive.

    When the indictment was unsealed in April, WSB-TV in Atlanta revealed that Cassady sent a bomb to the widow of a man he sexually assaulted as a teenager.

    “How is somebody who is in prison for life, for horrific acts against the community, how is possible that he can still terrorize members of the community from behind bars?” the widow reportedly said. “And now somehow, he was able to access all of this and mail it out of prison. Somebody needs to look at the bigger picture of who he is.”

    Cassady has pleaded not guilty to the charges, according to the court docket. The inmate is already serving a life sentence.

    Cassady isn’t the only trans bomber to receive DOJ support in a sex-change lawsuit. As Headline USA exclusively documented last year, former neo-Nazi bank robber Pete/Donna Langan, who has ties to the Oklahoma City bombing, reached a settlement with the DOJ to become the first federal inmate in history to receive a sex change.

    Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

    Tyler Durden
    Sat, 07/13/2024 – 15:10

  • EU Offered X Secret Censorship Deal To Avoid Fines For 'Deceptive Dark Patterns', Musk Says
    EU Offered X Secret Censorship Deal To Avoid Fines For ‘Deceptive Dark Patterns’, Musk Says

    EU officials have issued preliminary findings of an investigation into Elon Musk’s X Corp., accusing the social media giant of restricting data access for researchers, lack of advertising transparency, and the design of its “blue check” verified account system leaving users open to deception.

    The European Commission, the EU’s executive body, announced on July 12 that it believes X has violated the Digital Services Act (DSA), a sweeping law whose stated aims include reining in illegal content on social media platforms and forcing tech companies to be more responsible and transparent in their content moderation and advertising practices.

    “In our view, X does not comply with the DSA in key transparency areas, by using dark patterns and thus misleading users, by failing to provide an adequate ad repository, and by blocking access to data for researchers,” Margrethe Vestager, executive vice-president for A Europe Fit for the Digital Age, said in a statement.

    This notice refers to an investigation opened in December 2023. Among the concerns raised at the time were X’s moderation practices, use of generative artificial intelligence, failure to provide required data to researchers and lack of transparency over its advertising practices

    As of July 12, Musk and X are on official notice that they’ve been found in violation of the DSA. However, as EU Internal Market Commissioner Thierry Breton recently wrote on X, these findings aren’t final and “X has now the right of defence.”

    In his usual pointed way, Musk responded:

    “How we know you’re real?”

    https://platform.twitter.com/widgets.jsAs Tom Ozimek reports via The Epoch Times, following an in-depth investigation into X’s compliance with the DSA, the European Commission said it identified three key problem areas.

    The first of these involves the use of “dark patterns,” which it explains as design elements that manipulate users into making choices that may not be in their best interest.

    The commission alleged that X’s “blue check” verification system is deceptively designed, fails to meet industry standards, and is being abused by malicious actors to deceive users.

    The European Commission alleged that allowing anyone to subscribe for verified status undermines users’ ability to make informed decisions about account authenticity and content.

    “Back in the day, Blue Checks used to mean trustworthy sources of information,” Thierry Breton, commissioner for Internal Market, said in a statement. “Now with X, our preliminary view is that they deceive users and infringe the DSA.”

    The second area of non-compliance claimed by the commission is that X allegedly lacks transparency in advertising by failing to provide a reliable, searchable ad repository, instead implementing design barriers that hinder supervision and research into online advertising risks.

    Third, the European Commission accused X of restricting researcher access to public data, discouraging research by prohibiting independent data scraping, and imposing high fees for application programming interface (API) access.

    The social media giant now has the opportunity to respond to the allegations and make changes so it’s in compliance with the DSA rules.

    If the company and its founder are ultimately declared in violation, they face fines in excess of $200 million dollars – 6% of the company’s turnover, which was approximately $3.4 billion for 2023.

    The company would also face a period of supervision, while it brings its products and services in line with the law.

    Repeat offenders may be banned from operating in the EU altogether.

    X’s press team replied to a request for comment with its customary “busy now, please check back later” automated message, while an inquiry sent to its EU-related team was not returned.

    However, Musk did have a response… and it’s very revealing as to the real drivers of the EU’s heavy handed ‘protectorate’.

    Musk alleged in a post on X that the EU commission had offered him a secret deal if they quietly censored speech (al la Twitter 1.0)

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    Mike Benz, a former Trump administration official, highlighted this to suggest the EU’s real motivation is to “use the DSA to force X to restaff the censorship squad fired when Elon took over.” 

    He further alleged that people who present themselves as researchers are actually “censorship activities & political operatives.”

    Musk reposted Benz’s analysis with just one word of comment: 

    “Exactly.”

    Does anyone doubt this?

    Tyler Durden
    Sat, 07/13/2024 – 14:35

  • Maryland "Can't Import Itself Out Of Energy Crisis" Amid Urgent Need To Boost In-State Power Generation
    Maryland “Can’t Import Itself Out Of Energy Crisis” Amid Urgent Need To Boost In-State Power Generation

    Authored by Stuart Kaplow and Nancy Hudes of ESG Legal Solutions, LLC.,

    Maryland consumes about 40% more electricity than it generates.

    The extra supply of more than 200 Trillion Btu of electricity, annually, is delivered to the state over the PJM regional grid. And the amount imported is growing dramatically. 

    While the percentage of imported electricity varies from day to day (depending upon weather conditions, costs of fuel sources, energy public policy, etc.), this is not a new situation, dating back approximately 40 years, and will increase in coming years.

    That in 2022 the two reactor 1970s era Calvert Cliffs nuclear power plant located on the western shore of the Chesapeake Bay accounted for about 39% of the state’s total in state electricity generation, is what saves the State’s broken publicly mandated utility system. Natural gas generation (.. which has more than tripled since 2015, as nearly 2,600 megawatts of new natural gas generating capacity came online) accounted for about 36% of in state electricity generation.

    Coal fired generating plants had historically supplied more than half the state’s generation, but coal’s share has been below 50% since 2012 and was at about 12% in 2022.

    However, of the 40% of electricity imported into Maryland for use in the state, in 2022 more than 22% was coal generated (which is a generic U.S. Energy Information Administration statistic, but PJM actual operational data shows that in that year more than 36% was coal generated). Also significant, PJM’s real time market (of locational marginal prices calculated on 5 minute intervals based on actual grip operations) shows that at its peak Maryland’s imported electricity is more than 70% coal generated.

    Not surprisingly, the use of electricity is not static.

    But neither is in state generation, including Maryland’s three remaining coal power plants (with a combined generating capacity of nearly 1,800 megawatts), the two largest power plants intend to shut down by 2025 and the smallest plant has given notice it will shut down later this year. Solar energy, wind, and biomass are increasing but will not at any reasonable time replace that capacity or energy density; so, the state will import more electricity. The largest renewable electricity source available on the grid (.. not including hydroelectric dams) is landfill gas, which is an inelastic supply. Since 2022 there is arguably more solar power generated, but nearly two thirds of Maryland’s solar generation came from small scale, customer sited solar, such as residential rooftop solar panels (.. and not contributing in any meaningful way to the grid).

    While it is popular to talk about the fact that Maryland had about 102,530 registered electric vehicles and about 1,667 electric charging stations, with both of those numbers increasing the amount of electricity used (i.e., replacing petroleum), such only exacerbates the already existing total energy imbalance.

    That is Maryland consumes about five times more energy than it produces (.. including but not limited to electricity). Around 90% of Maryland’s petroleum is consumed by the transportation sector, which accounts for 33% of the state’s total energy consumption, followed closely by the residential sector at 31% and the commercial sector at 29%. But the state public policy to increase electric vehicle use and electrify buildings (that are today using natural gas) will of course increase electricity use and that electricity will be imported with a significant portion of it generated from coal.   

    However, the real and dramatic increase in electricity use is elsewhere. Where businesses had in the recent past used electricity principally for lighting, heating and cooling, hot water, and office equipment including computers, ignoring for this discussion the power needs of data centers, many businesses will be utilizing computers with larger chip sets increasing electricity needs (.. think AI).

    In the politicization of a consultant study commissioned by the State government to justify the implementation of the Climate Solutions Now Act of 2022, which by its own admission only considers a subset of energy use that might be subject to that single state law, the spurious projection is that Maryland electric systems would see load growth rates in the range of 0.6 – 2.1% per year through 2031. The projection ignores the historical reality that Maryland’s total electricity load growth has been in excess of 4.9% per year. School buildings have been among the largest constants in increasing electricity use and are excluded from that law and State government spin. The study further underestimated growth by not including any of the public or private cogeneration plants in the plants which are growing all but exponentially in response to concerns about the future unreliability of Maryland’s electric grid.

    The political spin around Maryland’s future electric load growth is silent on the gerrymandered parameters discussed by the Maryland Department of the Environment when it by design excludes the largest private sector electricity customer in the state, Johns Hopkins (which has and is constructing large cogeneration plants) and the largest public sector electric user in the state, Fort Meade (which having maxed out electricity capacity of the grid as BGE’s largest customer, now not only has its own fossil fuel generation on base but also has deployed a series of 1.6 megawatt of solid oxide fuel cells, apparently to reliably power NSA facilities, eliminating the need for electrical transmission from the grid and costly backup infrastructure). Despite those efforts, in response to future needs for increasing amounts of electricity, the U.S. Department of Defense has publicly discussed relocating equipment from the Maryland base to states with better electricity capacity.

    From a conservation perspective, none of this makes much sense when Maryland ranks among the 10 states with both the lowest total per capita energy consumption and the lowest energy use to produce one dollar of GDP. MDE should take a win.

    An interesting factoid, the Port of Baltimore is the second largest coal exporting port in the country, so the State’s economy benefits hugely from shipping the fossil fuel to India for electricity generation although exports were temporarily halted on March 26 with the main channel blocked by the collapse of the Francis Scott Key Bridge.

    But MDE’s apocalyptic environmentalism, attempting to implement policies founded in the idea that unless humankind drastically reduces consumption the state’s population and appetite will overwhelm the ecosystems, were checked by the legislature this year when the Department’s plan to ration electricity (i.e., its proposed regulation of Energy Use Intensity in buildings) when the legislature cut off funding to implement EUI regulation.

    The Maryland economy does not produce much of anything but rather relies heavily on government services and pendant professional services, those that support government and will be big users of energy demanding AI computing. Out of concern about the grid becoming less reliable, including the state government’s aim to ration electricity, the top question by many prospective commercial tenants in Maryland has become backup electricity sources.

    Maryland, like many other similarly situated states, cannot import its way out of this predicament with ever increasing electricity demand, produced from coal or not. The State’s 20th century heavily government controlled utility model doesn’t encourage innovation, but the state needs to innovate in matters of energy. Maryland requires a techno optimism application of science and technology to resolve this dilemma of producing more electricity.

    *   *   *

    Maryland’s apocalyptic environmentalism pushed by progressives in Annapolis, who are quite honestly some of the worst managers this state has ever seen, have pushed disastrous green energy policies that prevent new fossil fuel power generators from being built. Hence, the state must increase power imports from surrounding states. 

    In return, utilities have to build massive transmission lines, seizing private property, to import power from other states. If the state actually allowed new fossil fuel plants, NatGas generators could be built down the street from new AI data centers. 

    Read more …

    Overall, the state is sliding into an energy crisis, with a critical need to boost in-state electricity generation as the ‘Next AI Trade’ theme gains momentum.

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    Tyler Durden
    Sat, 07/13/2024 – 14:00

  • "Please Explain This": White House Press Association Prez Busted In Huge Biden Lie?
    “Please Explain This”: White House Press Association Prez Busted In Huge Biden Lie?

    The President of the White House Correspondents’ Association, NBC News‘ Kelly O’Donnell, has reignited controversy over whether President Biden receives press questions in advance.

    “To those who make the false charge, the WH press corps does not provide questions in advance,” O’Donnell posted on X, suggesting that at most – “The president has a list of media who are credentialed in advance,” and that “His team knows who will be in the room and chose reporters from news wires, TV, print, and radio including a Polish journalist. We did not know who would be selected in advance.”

    Anyone not in the leftist media echo chamber knew this was a lie. Journalist Stephen Miller seized and pounced on poor Kelly, pointing out that she’s a lying dog-faced pony soldier of the worst varietal, with a photo that went viral last year of a LA Times journalist’s questions in advance.

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    Edit: Of course, as ZH reader SDShack notes in the comments below

    “When she says the ‘WH Press staff doesn’t provide questions in advance to POTATUS, that could very well be true. What she DID NOT say was ‘POTATUS staff gave us the questions they want us to ask, and by who, and if we don’t agree, that person does not get called on…so naturally we agree to their wishes’. See how the game is played?“

    Kelly also seems to have missed a giant story from earlier this week – in which a Milwaukee radio host resigned after admitting that Biden aides gave her questions in advance of an interview. The same station admitted they edited Biden’s interview at the request of the Biden campaign.

    Live view of corporate media:

    Tyler Durden
    Sat, 07/13/2024 – 13:25

  • Take Away The Car Keys
    Take Away The Car Keys

    Authored by John Maxwell Hamilton via RealClearPolitics,

    One of the saddest moments of my life was the day I felt compelled to tell my father that he should give up his car and stop driving. He resisted, but only briefly. It was an example of the kind of man my father was.

    And it is an example for us today when we consider the peril our republic faces with President Biden clinging to his reelection bid.

    We all know the liberating feeling we had when we got our first driver’s license. The opposite feeling comes when it is time to turn it in. In my dad’s case, the problem was diminished eyesight. A resilient man, he had learned to live with many handicaps, including loss of a leg and use of an arm. He told me of a trick he successfully used at traffic intersections to compensate for his difficulty discerning red lights from green: He waited for other cars to move.

    Okay, I said, how will you feel if you end up hurting someone? That was all it took. He sold his car.

    Such a moment has come now to Joseph Biden. The chances of him winning in November are virtually non-existent. Yet, he continues to make statements that defy reason in order to keep the keys to the White House.

    The president’s performance in his recent debate with Donald Trump was a shock to anyone with eyes and ears. His handlers have limited his unscripted interactions with journalists for precisely this reason. Yet he and his staff insist he is as intellectually vigorous as ever and trot out ludicrous excuses for why he stumbled. One of the excuses, jetlag from recent trips abroad, showed the opposite of what was intended – that is, that it takes the president 11 days to recover from travel.

    They, argue that he is the best person to beat Donald Trump in November. After all, they say, he is the only one who has bested Trump at the ballot box. On close inspection, however, the statement is nearly meaningless. Trump has only been in two election races, and the one he won was fluky, to say the least. His opponent, Hillary Clinton, ran a poor campaign – and still won the popular vote. Several Democrats have a better chance than Biden of beating Trump this time round.

    It is sad to hear Biden claim he is intellectually up to the job at the same time he says the polls are not all that bad. As the RealClearPolitics Poll Average shows, Trump is decidedly ahead of Biden. Moreover, Biden probably needs around 52% of the popular vote to win, given how the Electoral College functions.

    It might be comforting to think that there is still time to turn things around. But anyone can see that Biden is losing voters, not gaining them. The best that can be said is that the battle lines have been fixed in Trump’s favor. Biden has been lagging for months and that shows no signs of changing.

    It is understandable that the president seeks supportive advice from staff as well as his wife, Jill, and his son, Hunter Biden. We all want reassurance. But we also need to seek out those who will give us a point of view that we do not want to hear.

    Contrary to what Biden is claiming, the elites are not out to get him. Taking on the mantle of victimhood only makes Biden seem unhinged – and more like Trump. Polls show that nearly three-quarters of Americans think Biden is not fit to serve, mainly as a result of the impacts of aging.

    The issue is not Biden’s age, per se. Donald Trump, 78, is not much younger than the president. The issue is that in recent years Biden’s acuity and physical presence have shown noticeable decline. Whatever one wants to say about Trump, he is vigorous.

    One of the great strengths of the Democrats in recent years is that they have a much better record of dealing with reality than Republicans, who have blindly followed a leader whose attachment to the truth is tenuous.

    Party leaders now face a test of their credibility.

    Some Democratic lawmakers have begun to speak out, urging the president to end his campaign. But more – many more – must step up. They must do what they have said the opposition has failed to do: speak truth to power. Otherwise, an important distinction between the parties disappears along with the possibility of winning the November election.  

    Like my father, Biden has faced personal hardship and prevailed. That courage is a sign of greatness. I stand with those who believe Biden has many accomplishments and should be proud of his presidency.

    But this moment may be his greatest test. True greatness lies in facing facts, not in wishful thinking, and in thinking of the consequences for others, not oneself.

    Biden needs to turn in the keys and let the party make a credible fight for the country. That’s what my father, a hardworking American who never pitied himself, would have done. I loved him for it.

    Tyler Durden
    Sat, 07/13/2024 – 12:50

  • Russia Initiates Call With Pentagon After NATO Offered Ukraine 'Irreversible' Membership Path
    Russia Initiates Call With Pentagon After NATO Offered Ukraine ‘Irreversible’ Membership Path

    In a rare positive development, the heads of the US and Russian militaries have held a rare phone call in an effort to deescalate tensions. But Moscow is livid at certain recent developments and pledges from the West.

    Defense Secretary Lloyd Austin on Friday spoke by phone Russian Minister of Defense Andrey Belousov for the second time in less than a month. The call was initiated by Moscow just after the close of the NATO summit hosted by Biden in Washington this week.

    A Pentagon readout said Austin “emphasized the importance of maintaining lines of communication amid Russia’s ongoing war against Ukraine,” deputy press secretary Sabrina Singh told a briefing.

    The two sides had been quiet since a call in March 2023, but communications have been picking up, after a June 25th call which reestablished communications.

    But Russia likely registered its anger at the NATO summit committing to an “irreversible path” for Ukraine’s NATO membership. NATO chief Jens Stoltenberg still admitted in will be a very long path, as much as ten years or more.

    He said in a CBS News interview days ago: “Well, no one has said exactly 10 years but- but- but it’s obvious that it is a very serious issue to bring in Ukraine. Because Ukraine is now a country at war.”

    “Ukraine has been attacked by- by Russia. So the most important thing we should do is to step up our support to Ukraine to ensure that Ukraine prevails,” he continued. “That’s a precondition for any future membership for Ukraine.”

    According to The Hill, another recent issue which has roiled Russia and was likely conveyed by Belousov to Austin, is seen in the following:

    What’s more, NATO has backed Ukraine’s push for more latitude in its use of Western-supplied weapons to strike inside Russia, with the United Kingdom announcing it would allow Kyiv to hit targets over Russian borders with British-provided long-range missiles.

    There’s also the US decision to deploy long-range missiles to Europe in violation of the previously in place INF treaty, which the US pulled out of in 2019. The missiles are expected to be deployed to Germany soon.

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    Kremlin Spokesman Dmitry Peskov has warned this could make Germany or other places in Europe a target: “There has always been a paradoxical situation: the United States has deployed a variety of missiles of different ranges in Europe, which are traditionally aimed at our country,” he said, and warned: “Accordingly, our country designated European locations as targets for our missiles.”

    Tyler Durden
    Sat, 07/13/2024 – 12:15

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Jul 13

Today’s News 13th July 2024

  • Escobar: We Are NATO, And We're Coming To Get Ya…
    Escobar: We Are NATO, And We’re Coming To Get Ya…

    Authored by Pepe Escobar,

    We are the world. We are the people. We are NATO. And we’re comin’ to get ya – wherever you are, whether you want it or not.

    Call it the latest pop iteration of the “rules-based international order” – duly christened at NATO’s 75th birthday in D.C.

    Well, the Global Majority had already been warned – but brains under techno-feudalism tend to be reduced to mush.

    So a gentle reminder is in order. This had already been stated in the first paragraph of the Joint Declaration on EU-NATO Cooperation, issued on January 9, 2023:

    “We will further mobilize the combined set of instruments at our disposal, be they political, economic, or military, (italics mine) to pursue our common objectives to the benefit of our one billion citizens.”

    Correction: barely one million, part of the 0.1% plutocracy. Certainly not one billion.

    Cut to the 2024 NATO Summit Declaration – obviously redacted, with stellar mediocrity, by the Americans, with the other 31 assorted vassal members duly assenting.

    So here’s the main 2024 NATO “strategic” trifecta:

    1. Extra tens of billions of dollars in “assistance” to the upcoming rump Ukraine; the overwhelming majority of these funds will be slushing around the industrial-military money laundering complex.

    2. Forceful imposition of extra military spending on all members.

    3. Massive hyping up of the “China threat”.

    As for the theme song of the NATO 75 show, there are actually two. Apart from “China Threat” (closing credits), the other one (opening credits) is “Free Ukraine”. The lyrics go something like this: it looks like we are at war against Russia in Ukraine, but don’t be fooled: NATO is not a participant in the war.

    Well, they are even setting up a NATO office in Kiev, but that is just to coordinate production for a Netflix war series.

    Those malignant authoritarians

    The outgoing epileptic slab of Norwegian wood posing as NATO Secretary-General – before the arrival of his Dutch Gouda replacement – put on quite a performance. Highlights include his fierce denunciation of “the growing alliance between Russia and its authoritarian friends in Asia”, as in “authoritarian leaders in Iran, North Korea and China”. These malignant entities “all want NATO to fail”. So there’s much work to do “with our friends in the Indo-Pacific”.

    “Indo-Pacific” is a crude “rules-based international order” invention. No one across Asia, anywhere, has ever used it; everyone refers to Asia-Pacific.

    The joint declaration directly blames China for fueling Russian “aggression” in Ukraine: Beijing is described as a “decisive enabler” of the Kremlin’s “war effort”. NATO script writers even directly threaten China: China “cannot enable the largest war in Europe in recent history without this negatively impacting its interests and reputation”.

    To counter-act such malignity, NATO will expand its “partnerships” with “Indo-Pacific” states.

    Even before the summit declaration, the Global Times was already losing their cool with these inanities: “Under the hype from the U.S. and NATO, it seems that China has become the ‘key’ to the survival of Europe, controlling the fate of the Russia-Ukraine conflict like a ‘decisive power.’”

    The tawdry rhetorical fest in D.C. definitely won’t cut it in Beijing: the Hegemon just wants “to reach more deeply into Asia, trying to establish an ‘Asia-Pacific NATO’ to help achieve the U.S.’ ‘Indo-Pacific Strategy.’”

    Southeast Asia, via diplomatic channels, essentially agrees: with the exception of bought and paid for misguided Filipinos, no one wants serious turbulence across Asia-Pacific like NATO has unleashed across Europe.

    Zhou Bo, senior fellow at Tsinghua University’s Center for International Security and Strategy and a retired PLA officer, also dismissed the Indo-Pacific shenanigans even before the summit: we had an excellent exchange about it late last year at the Astana Forum in Kazakhstan.

    Whatever happens, Exceptionalistan will remain on overdrive. NATO and Japan have agreed to establish a “highly confidential security information” line, around the clock. So count on meek Japanese Prime Minister Fumio Kishida to enhance Japan’s “pivotal role” in the building of an Asian NATO.

    Everyone with a brain from Urumqi to Bangalore knows that the motto across Asia, for the Exceptionalists, is “Today Ukraine, Tomorrow Taiwan”. The absolute majority of ASEAN, and hopefully India, will not fall for it.

    What is clear is that the NATO at 75 circus is absolutely clueless and impervious to what happened at the recent SCO summit in Astana. Especially when it comes to the SCO now positioned as a key node in bringing on a new, Eurasia-wide collective security arrangement.

    As for Ukraine, once again Medvedev Unplugged, in inimitable style, delivered the Russian position:

    “The Washington Summit Declaration of July 10 mentions ‘the irreversible path of Ukraine’ to NATO. For Russia, 2 possible ways of how this path ends are acceptable: either Ukraine disappears, or NATO does. Still better, both.”

    In parallel, China is conducting military exercises in Belarus only a few days after Minsk officially became a SCO member. Translation: forget about NATO “expanding” to Asia when Beijing is already making it clear it is very much present in NATO’s alleged “backyard”.

    A declaration of war against Eurasia

    Michael Hudson once again has reminded everyone with a brain that the running NATO warmongering show has nothing to do with peaceful internationalism. It’s rather about “a unipolar U.S. military alliance leading toward military aggression and economic sanctions to isolate Russia and China. Or more to the point, to isolate European and other allies from its former trade and investment with Russia and China, making those allies more dependent on the United States.”

    The 2024 NATO declaration actually is a renewed declaration of war, hybrid and otherwise, against Eurasia – as well as Afro-Eurasia (yes, there are promises of “partnerships” advancing everywhere from Africa to the Middle East).

    The Eurasia integration process is about geoeconomic integration – including, crucially, transportation corridors connecting, among other latitudes, northern Europe with West Asia.

    For the Hegemon, this is the ultimate nightmare: Eurasia integration driving Western Europe away from the U.S. and preventing that perennial wet dream, the colonization of Russia.

    So only plan A would apply, with absolute ruthlessness: Washington – literally – bombed Russia-Germany integration (Nord Stream 1 and 2, and more) and turned the vassal lands of frightened, discombobulated Europeans into a potentially very dangerous place, right beside a raging Hot War.

    So once again, let everyone go back to that first paragraph of the January 2023 EU-NATO joint communiqué. That’s what we’re facing today, reflected on the title of my latest book, Eurasia v. NATOstan: NATO – in theory – fully mobilized, in military, political and economic terms, to fight against any Global Majority forces that may destabilize Imperial Hegemony.

    Tyler Durden
    Fri, 07/12/2024 – 23:45

  • The Fastest Growing Millionaire Populations, By Country
    The Fastest Growing Millionaire Populations, By Country

    The world’s economic powerhouses, like the U.S. or China, hold the majority of millionaires in absolute terms. But which countries are growing their millionaire populations at the fastest rate?

    This chart, via Visual Capitalist’s Jeff Desjardins, shows the growth of millionaire populations by country between 2013 and 2023, using data from New World Wealth, as detailed in the Henley Private Wealth Migration Report 2024.

    Specifically, the report tracks high-net-worth individuals (HNWIs) who possess liquid investable wealth of $1 million USD or more. The figures are rounded to the nearest hundred and represent residents of each country as of December 2023.

    Emerging Markets Like Vietnam Top the Ranking

    While the United States remains the leader with over 5.4 million millionaires, emerging economies such as Vietnam, China, and India are seeing the fastest growth rates.

    Vietnam’s millionaire population, in particular, has surged by 98% over the last decade, reflecting the country’s rapid economic development. Meanwhile, China and India have created hundreds of thousands of new millionaires, solidifying their positions as major players in the global wealth landscape.

    Despite its modest growth rate of 62%, the United States still boasts the largest number of millionaires globally. China is nearing one million millionaires, becoming only the second country to approach this milestone after the United States.

    Vietnam’s exceptional 98% growth rate stands out, particularly given its communist governance and initially low base of millionaires. This growth reflects the country’s recent economic success and suggests a continuing upward trend in wealth accumulation.

    In contrast, the United Kingdom experienced a slight decline in its millionaire population over the past decade. Factors such as Brexit and other economic uncertainties have contributed to this reduction, highlighting the challenges faced by established economies.

    African countries like Nigeria and South Africa have seen their millionaire populations decrease, partly due to emigration and economic instability. Nigeria’s struggle with currency devaluation has further impacted its wealthy class, while South Africa saw a notable 20% decline in its millionaire population.

    Tyler Durden
    Fri, 07/12/2024 – 23:20

  • Forbidden Fruit And The Classroom: The Huge American Sex-Abuse Scandal That Educators Scandalously Suppress
    Forbidden Fruit And The Classroom: The Huge American Sex-Abuse Scandal That Educators Scandalously Suppress

    Authored by James Varney via RealClearInvestigations,

    Every day millions of parents put their children under the care of public school teachers, administrators, and support staff. Their trust, however, is frequently broken by predators in authority in what appears to be the largest ongoing sexual abuse scandal in our nation’s history.

    Given the roughly 50 million students in U.S. K-12 schools each year, the number of students who have been victims of sexual misconduct by school employees is probably in the millions each decade, according to multiple studies. Such numbers would far exceed the high-profile abuse scandals that rocked the Roman Catholic Church and the Boy Scouts of America.

    For a variety of reasons, ranging from embarrassment to eagerness to avoid liability, elected or appointed officials, along with unions or lobbying groups representing school employees, have fought to keep the truth hidden from the public.

    “In any given year they have failed to report thousands of these situations, and instead they’ve papered them over, acted like it’s not an issue,” former Education Secretary Betsy DeVos told RealClearInvestigations. Stunned by a 2018 Chicago Tribune investigation that found 523 incident reports of sexual misconduct by employees of the city’s schools during the past decade, DeVos during the Trump administration launched the process of including specific questions about such cases in the Department’s Civil Rights Data Collection, a process it undertakes every two years. Previously, the Office for Civil Rights asked only general questions about sexual misconduct incidents, without a breakdown of alleged perpetrators.

    The Biden administration initially sought to remove those questions, saying it wanted to avoid data duplication, but it backtracked after fierce criticism it was doing so as a sop to teachers unions. Consequently, the question will be included on future questionnaires, but, as of today, the Department of Education “has no data,” a spokesperson told RCI. These days, from Portland, Maine, to Portland, Oregon, even a cursory review of local news reporting brings disquieting revelations of teachers accused of or arrested for alleged sexual relations with a student. In just the past month:

    • In California, multiple students filed a lawsuit against a male music teacher who had taught at three different schools in the San Jose area. The teacher is already serving prison time for previous convictions in sexual misconduct cases with students.
    • In New Jersey, a female middle school teacher was arrested for an alleged ongoing sexual relationship with a student.
    • In Texas, a male teacher was arrested for allegedly having a sexual affair with a 12-year-old student. 
    • In Illinois, a female substitute teacher faces charges of “grooming and predatory criminal sexual assault” for an alleged relationship with a sixth-grader.
    • In Washington, the arrest of a male high school teacher on charges of sexual misconduct with a minor represented a repeat nightmare for a school district that previously had a psychologist convicted on the same charges.
    • Just last weekend, a 36-year-old New Jersey teacher was arrested on multiple assault charges involving a sexual relationship with a teenage student.

    These stories hold a lurid appeal to some. Sensational accounts of seductions of students by teachers, typically by high school female teachers, are tabloid catnip. The topic has provided material for standup comics, Hollywood writers, and pop tunes that didn’t begin or end with Van Halen’s 1984 hit “Hot For Teacher.”

    But experts who track the problem don’t take the problem lightly. Pointing to research from Hofstra University that found roughly 1 in 10 students in K-12 schools have suffered “some form of sexual misconduct by an educator,” Terri Miller, head of the advocacy group SESAME (Stop Educator Sexual Abuse, Misconduct and Exploitation), said the number of victims is staggering.

    “The rate of educator sexual misconduct is 10 times higher in one year’s time than in five decades of abuse by clergy,” Miller said, noting that in 2021 the U.S. Conference of Catholic Bishops reported it had received nearly 4,300 sexual abuse allegations. “Another striking contrast is we are not mandated to send our children to church; we are mandated to send them to school.” 

    The extent of the problem may shock many Americans. The topic has long been shrouded by a curtain held by various actors in the drama: schools reluctant to go public with embarrassing and possibly criminal activity, unions fighting for members’ privacy and sometimes state laws that protect it, and a government reluctant to ask hard questions that would gather reliable data.

    But the cases and tactics often used to cover them up have become common enough to earn an ugly nickname: “passing the trash.”

    “DOE does not and never has tracked sexual misconduct committed by adults against students,” said Billie-Jo Grant, a professor at California Poly State University who is one of the nation’s top researchers on the topic.

    “DOE has never aggressively worked to stop teachers’ unions and administrators from passing the trash,” she told RCI. “DOE does not hold accountable the many enablers who have created a pool of mobile molesters in our schools nationwide. Your questions should include why? Why? Why?”

    Grant and Miller attended a Department of Education conference on the topic in D.C. in October 2019, and it was out of that meeting that its Office for Civil Rights decided to ask more specific questions in its Civil Rights Data Collection, according to Miller.

    And while the government may be groping toward more clarity, as a DOE official acknowledged having “no data” the Department would make public, he insisted the matter is viewed with concern.

    In 2004, then-Hofstra professor Carol Shakeshaft did a report for the DOE that assessed the data available on the topic. From a handful of regional studies and media reports, Shakeshaft’s report found some broad parameters of the problem.

    For example, while stories involving female teachers may be more titillating and gain more media attention, about two-thirds of the predators in schools are male. While no region seems to be immune from the problem, about half of the reported incidents occurred in southern states, Shakeshaft’s report found. Most of the victims are female (56%), and the majority of incidents involve high schools (62%).

    The problem is not confined to public schools, although the public school student population dwarfs that of private and parochial schools. Incidents of sexual misconduct at tony schools like New York’s Horace Mann, or at St. George’s in Rhode Island are but two of the most publicized examples of the problem.

    Protecting kids in school from inappropriate or criminal sexual activity involving employees and students would seem a surefire winner, but instead DeVos and her team found it was a political football. Union contracts and in many cases state law protect the privacy of employees. What that meant, DeVos explained, is that even if credible allegations of sexual misconduct were leveled against an employee, unless authorities were called in or an arrest made the alleged perpetrator was often free to leave one school and work in another. 

    The definitions of what constitutes sexual misconduct could be broadly construed, and the proliferation of social media has not only loosened the boundaries of contact between school employees and students, but provided more opportunities for wrongdoers.

    Still, for the most severe conduct, the Trump administration finally introduced on the 2020-21 school year questionnaire specific questions regarding “a school staff member and rape or attempted rape.” Answers for the initial year were optional, as is common with new reporting requirements, and the DOE declined to make the results public. But, in any case, those figures would be hopelessly incomplete because of the widespread school closures that were part of the COVID response. 

    Even with the new questions, Miller wondered how clear the picture provided might be, because for now OCR is asking only about incidents that occurred on school grounds.

    “That means incidents that happen in a car, or an apartment, or anywhere off-campus, won’t be included, and that’s where the majority of these attacks happen,” she said.

    The same problem had confronted one of DeVos’ top lieutenants, Kimberly Richey, when she served as chief counsel to the school system in Oklahoma. Even in a deeply conservative state, Richey found few supporters when, surprised by how many complaints were reaching her desk, she approached lawmakers in Norman about changes.

    “I met with resistance from the very beginning,” she said. “And I had complaints, 95 percent of the time coming from parents, about a school or a teacher, and when I contacted them the teacher would immediately resign, travel five miles to the next district and start working there.”

    Several people who spoke with RCI said teachers unions’ contracts were a major obstacle to both moving forward with credible allegations of sexual misconduct and blocking future school employment for alleged perpetrators. Neither the American Federation of Teachers nor the National Education Association responded to questions from RCI about this topic.

    Teachers aren’t the only obstacles to reform. While Superintendent of Public Education in Oklahoma from 2011-2015, Janet Barresi said, state groups lobbying on behalf of school administrators and board members were much more vociferous opponents than teachers unions of laws that would force schools to disclose information about prior allegations and cases involving school employees.

    “If the system would be more open and honest about all this, then parents would feel more relieved and it would get rid of a great deal of rumor and conjecture,” Barresi said.

    It is those employee protections that produce the pattern known as “passing the trash,” several experts told RCI. This is particularly relevant in cases where state or local law enforcement agencies are never notified of allegations. A school may launch an investigation after a parent or student files a complaint, but that investigation would cease when the employee resigned, and then state law or bargaining agreements often prohibit officials administrators from relaying such information to any new school where the alleged perpetrator applied or began working.

    Miller said SESAME has model legislation states could pass to confront the problem, but thus far the group has found limited success. 

    The Enough Abuse Campaign, which did not respond to RCI’s questions, notes that age-of-consent laws and the definitions of what constitutes sexual misconduct have created a complicated legal and regulatory map. Still, the campaign seems more optimistic about legislative progress than SESAME, declaring that “over 75 percent of states have now passed legislation specifically outlawing educator sexual misconduct,” in recognition of the power imbalance that exists in a teacher/student relationship.

    And there are some signs lawmakers are grasping the enormity of the issue.

    On July 1, an Oklahoma law went into effect mandating any verbal or social media contact between school employees and students be done on platforms the school controls, which state Rep. Sherrie Conley called a “long overdue” regulation.

    Similarly, in Michigan, state Rep. Brad Paquette, himself a teacher, has proposed legislation appointing a state ombudsman to deal with sexual misconduct complaints.

    “It’s just a beginning but we have to start somewhere,” Paquette told RCI. “I first heard back in 2012 or 2013, when I started teaching, that I had to join the union because I might have an accusation filed against me. But I thought, ‘No, I should be fired if I did something wrong.’”

    “I think we need to be engaged aggressively to root out the problem,” he said. “There’s no good reason for us to take a lax approach. You see these headlines all over the place and it’s unacceptable. People need to start asking questions.”

    While Richey said she did not recall any credible allegations crossing her desk during a brief stint as an attorney with Virginia schools, Paquette’s “everywhere” assessment seems on the mark.

    In Texas, for example, the online site Texas Scorecard started looking at the issue in 2022 after administrators in Prosper, a swanky Dallas suburb, attempted to cover up alleged repeated sexual offenses by a school bus driver. Since then, Texas Scorecard has kept an unofficial tally of such incidents, and the Lone Star State has had more than 100 cases every year since.

    The Prosper superintendent is currently under investigation by Texas agencies, in part for the 2022 coverup, as Texas law requires officials to report any credible allegations of child abuse within 48 hours. In May, two Prosper high school coaches were arrested for allegedly covering up another sexual assault that involved students.

    Separating student-on-student sexual misconduct is key to understanding how deep the problem may run with school employees, according to Grant and other experts. For example, in the more general questions DOE’s OCR would ask regarding improper incidents that fall under Title IX, troubling trends emerged. For 2015-2016, there were 9,649 incidents of sexual violence, and of that figure 394 cases were categorized as rape or attempted rape. In 2017-2018, those numbers skyrocketed, with overall incidents rising by 43% to 13,799 and the most serious category 74% to 685.

    As alarming as that trend may be, there is no way of knowing how many of those cases involved school employees, and Richey suspects that, given how the questionnaire was traditionally perceived, the majority of them are student-on-student.

    Nevertheless, Grant pointed to multiple studies that came to similar conclusions to that reached in the 2004 Hofstra report. That study found that 9.6% of the U.S. student body fall victim to educator sexual misconduct.

    Looking at California data from 2010-2021, Grant of Cal-Poly found 2,497 “school employees disciplined, reprimanded or arrested for sexually abusing K-12 students.” Between 2012 and 2018, the DOE received 280 complaints of adult-on-student sexual harassment in Chicago Public Schools. A Texas study from 2008 to 2016 found 1,415 Lone Star State educators “sanctioned for sexual misconduct.”

    These academic papers and sometimes salacious news accounts of teacher/student relationships do send up flares from time to time. In 2007, the Associated Press declared that “sexual misconduct plagues U.S. schools,” after its investigation “found more than 2,500 cases over five years in which educators were punished for actions from bizarre to sadistic.” In December 2023, Business Insider looked at the issue and concluded “shoddy investigations, quiet resignations, and a culture of secrecy have protected predators, not students.” 

    Last year, the Defense of Freedom Institute released a report titled “catching the trash” that concluded sexual misconduct by school employees has raged in the school system for decades. 

    “Various actors – school and district personnel, teacher unions, and the federal department charged with enforcing laws against sexual assault in public schools – bear responsibility for a systemic failure in preventing, and responding to, sexual assaults in public schools,” the report said.

    Pointing to the Biden administration’s attempt to remove specific questions about the issue from the OCR questionnaire, report author Paul Zimmerman told RCI the public should not expect much daylight on the topic in the near future.

    “The Biden administration has gone dark on this, they’re not interested in pressing this issue as evidenced by trying to discontinue the efforts made on this front by the previous administration,” he said.

    These political bumps, and the wreckage the COVID shutdowns unleashed on education in America, means there is no way of tackling the problem’s dimensions, let alone the problem itself. “It takes so long to get these numbers that in the end they’re not that helpful,” he said.

    The best way to block the passage of trash is through the SESAME Act, which DOE has cited as “model legislation” for states. To date, only a handful of states have passed the act, most recently Illinois in 2023. It requires the prohibition of non-disclosure agreements in personal or collectively bargained contracts, as well as deep background checks on all applicants.

    Only such thorough steps will break what Amos Guiora, a law professor at the University of Utah who has worked with Miller and SESAME, calls “the complicity of silence.” While the parameters of the problem may be hard to find, Guiora said he was stunned when he recently published what he acknowledged is a niche book on a West Virginia teacher exposed years late as a pedophile murderer. The limited book sold out on Amazon and his podcast has now topped 1 million views.

    “That tells you that what’s happening is something that is touching a chord,” he said. “It is so goddamn egregious what they have done to protect people who do this. Lawmakers will have to break the institutional complicity that surrounds this or they’ll just be protecting the perpetrators.”

    Tyler Durden
    Fri, 07/12/2024 – 22:55

  • Tipping Point: When Populations Peak
    Tipping Point: When Populations Peak

    As yesterday marks World Population Day, we’re taking a closer at one of the population trends that will affect many countries sooner or later in the 21st century: population decline. Especially prevalent across Europe and developed Asia, Statista’s Felix Richter reports this demographic trend is a consequence of declining birth rates and ageing populations and poses significant challenges to the countries affected.

    Infographic: Tipping Point: When Populations Peak | Statista

    You will find more infographics at Statista

    In countries like Japan and Italy, where population decline has begun in 2011 and 2015, respectively, fertility rates have long fallen below the replacement level of 2.1 percent, influenced by factors such as higher education and career opportunities for women, shifts in societal norms regarding family and childbearing and an ageing overall population.

    Countries with declining populations face a number of challenges, both economic and social. Economically, a shrinking workforce can lead to labor shortages, reduced productivity and increased pressure on social welfare systems. With fewer working-age individuals to support a growing elderly population, the financial burden on pension systems and healthcare services intensifies. Socially, a declining population can result in the depopulation of rural areas, shrinking communities and the ensuing challenges in maintaining infrastructure and public services.

    Addressing these issues requires comprehensive strategies and strategies. Raising the retirement age or increasing taxes/social contributions can help alleviate the financial burdens associated with a demographic imbalance. Policies to support work-life balance and affordable childcare can help slow the population decline and immigration of young, skilled workers can help address the labor shortages and increase productivity.

    According to the latest revision of the United Nation’s World Population Prospects, many countries will face these challenges within this century if they do not already, such as the aforementioned Japan and Italy and China and Germany, which were expected to see their first population decline in 2023.

    France’s population is expected to start declining in 2043, Brazil’s in 2048 and even India’s vast population is projected to start shrinking in 2065.

    Among developed nations, the United States, Canada and Australia are notable exception, with none of them currently expected to see their first population decline in the 21st century.

    Geographically, many African nations are still growing rapidly, resulting in a continental shift in global population that will see countries like Nigeria, the Democratic Republic of Congo, Ethiopia and Tanzania among the most populous nations in the world by 2100.

    Tyler Durden
    Fri, 07/12/2024 – 22:30

  • "Project 2025" Is Just "Project 1981"
    “Project 2025” Is Just “Project 1981”

    Authored by Michael Tracey,

    “Dangerous, diabolical, and dastardly” is how Hakeem Jeffries, the House Democratic Leader, just described the so-called “Project 2025” planning document that all liberals have now been commanded to light their hair on fire about and run around in circles screeching how it portends some imminent apocalyptic MAGA takeover.

    First off, it’s the least surprising thing in the world that the preeminent DC think tank of the “Conservative Movement” would merge itself to the maximum extent possible with the branding and sensibility of Donald Trump, the current undisputed ruler of the “Conservative Movement,” such as it exists. What would be far more surprising is if the Heritage Foundation, which drafted the document now being wailed about by every Democratic pundit, had not maximally ingratiated itself with Trump — in fact, the Trump Administration’s embrace of the Heritage Foundation was already well underway during his first term. But now liberals, desperate for a campaign pivot amidst Joe Biden’s cognitive implosion, are using their usual overwrought melodrama to hype “Project 2025” as slam-dunk proof that Trump obviously represents an Existential Threat To American Democracy™ or whatever. What they curiously fail to mention is that the document is robustly aligned with many of the liberals’ most sacrosanct priorities.

    Amusingly, Trump has been busy lately ‘disavowing’ Project 2025, but that’s neither here nor there.

    What percentage of despondent Dems who have this crippling fear of Project 2025 have actually read the document? I’m not going to claim to have read all 920 pages, but I did read the sections on the Department of Defense, State Department, and “Intelligence Community.” I would love to ask MSNBC anchors if they read these portions, because if they did, they should be celebrating the glorious reaffirmation of “bipartisan consensus” contained therein, rather than fulminating about some despotic nightmare.

    Christopher C. Miller, who briefly served as Trump’s “acting” Secretary of Defense, writes in his Project 2025 contribution that the next Conservative Administration must “prevent Beijing’s hegemony over Asia,” including by “modernizing and expanding the US nuclear arsenal.” Because we all know that what the “Deep State” fears most is pouring untold billions into nuclear weapons boondoggles that will keep themselves and their corporate partners gainfully employed in perpetuity. Miller solemnly declares that in addition to China, “the United States and its allies also face real threats from Russia, as evidenced by Vladimir Putin’s brutal war in Ukraine, as well as from Iran, North Korea, and transnational terrorism.”

    Countering these alleged threats, he concludes, “will require more spending on defense, both by the United States and by its allies.” Thus the fearsome Project 2025 envisions a future in which the march of US and “allied” militarization continues apace, just like it has during the Biden Administration. Someone’s going to have to explain how massively increasing expenditures on what is sometimes derisively referred to as the “military-industrial complex” represents any sort of severe blow to the “Deep State,” as the trembling libs claim to fear, and as “anti-establishment” right-wingers claim to yearn for.

    Miller says US conventional force planning must be structured in such a manner as to “defeat a Chinese invasion of Taiwan,” so if what you deplore in this document is that bipartisan planning for war with China could accelerate under a second Trump Administration, that may be legitimate — but that does not seem to be what the liberals are whining about.

    The chilling cover page of the Think Tank document

    Because the Biden Administration is currently doing the same thing!

    Miller amusingly calls for the “acquisition community,” also known as arms manufacturers, to be granted greater flexibility in securing multi-year procurement contracts to spur the “innovation” required for the Defense Industrial Sector to adequately confront all the scary Emerging Threats around the world. Liberals in a state of terror can take solace that this multi-year procurement reform has already been well underway during the Biden Administration, largely to provide armaments for Ukraine (and Taiwan), and these legislative adjustments have been enacted with thoroughly bipartisan support, as usual.

    “Replenish and maintain US stockpiles of ammunition and other equipment that have been depleted as a result of US support to Ukraine,” the document advises. Good news: that, again, is already happening, with new artillery factories popping up everywhere from Arkansas to Texas.

    Miller’s DOD section additionally declares that the US “must regain its role” as the “Arsenal of Democracy” by further ramping up foreign arms sales, which he says have fallen to unacceptable lows under the Biden Administration — despite Biden and Democrats similarly trumpeting the “Arsenal of Democracy” concept as it relates to Ukraine and other conflicts in which “Democracy is on the Line,” just like WWII. (Yawn.) Apparently there is firm agreement on this messianic imperative amongst the “Project 2025” crowd. The US has firmly retained its distinction as the world’s number one global arms exporter all throughout the Biden Administration, but this clearly isn’t enough for Project 2025. Weirdly, the MSNBC liberals don’t seem to be particularly troubled by that policy prescription.

    Among the “byzantine bureaucracy” that Project 2025 wants to cut is those bureaucratic impediments which prevent the US from exporting arms across the world at an acceptably rapid pace. The Heritage Foundation pinheads also want to eliminate the practice by which the State Department notifies Congress about such arms sales, decrying this already-meager oversight opportunity as a terrible “hinderance” (sp).

    As far as the DOD’s “intelligence” assets, Miller advises that they more fulsomely “align collection and analysis with vital national interests (countering China and Russia).” Can someone explain what Democrats find so “existentially” horrifying about this? They support the same exact thing, and in fact often argue that Trump is insufficiently committed to countering Our Big Bad Enemies. If there’s an “existential threat” contained anywhere in this document, it’s the same one that Democrats are currently promoting at full-blast: a lurch into a hotter-than-Cold War with China and Russia. (Which was just bolstered once again at the Washington NATO Summit this week, having produced an official Declaration that came closer than ever before in designating China an official enemy, by accusing it of providing “material support” to Russia’s war effort in Ukraine.)

    Miller wants to “increase the Army budget”; for the Navy, he wants to “build a fleet of more than 355 ships” as well as “produce key munitions at the maximum rate with significant capacity,” because the Navy must be urgently “prepared to expend large quantities of air-launched and sea-launched stealthy, precision, cruise missiles.” If any of this sincerely troubles hysterical Democrats, they would’ve been troubled by the budget-busting Defense expenditures that Biden has ushered in, building on the similarly budget-busting expenditures ushered in by the “dangerous” Trump. But of course they’re not troubled by any of this stuff.

    As far as the Ukraine war, the author of the State Department portion of the tome, Kiron Skinner, a former Director of Policy Planning in Trump’s State Department, attempts to distill what she concludes to be the consensus “conservative viewpoint” with respect to Ukraine: “Continued US involvement must be fully paid for; limited to military aid (while European allies address Ukraine’s economic needs); and have a clearly defined national security strategy that does not risk American lives.”

    This nicely mirrors what has indeed been the Congressional Republican consensus with respect to Ukraine policy under Biden, including among many self-proclaimed “MAGA” Republicans; it also tracks with the garbled and obfuscatory policy stance that’s been intermittently articulated by Trump.

    Trump and the mainline GOP seldom ever object to the principle of funding and supplying the Ukrainian war effort. (After all, Trump is the one who started sending Ukraine lethal weaponry in the first place.) They simply call for that funding to be streamlined with a greater emphasis on core military expenditures, rather than the “economic aid” that Democrats are generally more keen to tack on. This was the essence of a House GOP policy brief that “MAGA Mike Johnson” (to use Trump’s preferred nickname for the Speaker) personally hand-delivered to the White House in late 2023, while the mammoth National Security Supplemental bill was being preliminarily negotiated — and which Trump himself eventually orchestrated the passage of. Another key prescription in that policy brief was that the US should “descope” its involvement in Ukraine to only that which is necessary for “enabling the killing of Russians on the front lines. That means providing the necessary weapon systems and tactics to win — not to tie.”

    If you notice, this proclamation amounts to House Republicans (the group most acutely responsive to Trump’s political influence and dictates) arguing that the Biden Administration has been insufficiently aggressive in supplying Ukraine with weapons. The final War Funding Bill that Trump backed in April thus included a requirement for the Biden Administration to send Ukraine longer-range missile systems, which was then followed by Biden’s authorization for Ukraine to strike territorial Russia with US-provided materiel.

    Project 2025 states that “European allies” must take center stage in “addressing Ukraine’s economic needs,” which is also already well underway, with the EU approving 50 billion euro in “economic” assistance several months ago. Hence, even the marginal, insignificant critiques of Ukraine policy in this document could become mostly irrelevant by the time Trump theoretically takes office.

    So what exactly are Democrats and liberals blabbering about when they screech that Project 2025 is an “existential threat”? Insofar as it relates to the Ukrainian war effort, which they also fanatically support, the document merely reinforces and solidifies the pro-war bipartisan consensus. (As usual.) They should therefore be cheering the document, rather than screaming like banshees about it, but of course a rational policy analysis is not what Dems are aiming for with their present bluster. They just want a scary-sounding applause line for revving up anti-Trump voters by making them think Trump is getting ready to barrel into office with some crazed tyrannical plan, while omitting any mention that the “plan” is fully consistent with the foreign policy prescriptions they fervently support.

    When it comes to what’s commonly referred to as the “Deep State” in MAGA parlance — aka, the “Intelligence Community” — Project 2025 contains virtually the opposite as what’s being suggested by hysterical libs. (Go figure). Fundamentally, the guidance calls for marginally re-organizing the Intelligence Services so as to empower them.

    Trump loves to grouse that elements of the National Security State were irrationally against him in 2016-2018, and that’s true as far as it goes, with the Russiagate/Mueller fiasco being proof of these tawdry machinations. So it would make sense that Trump and the people in his orbit would want to impose various safeguards to prevent any future sabotage against Trump. But the idea that this means Trump would radically overhaul the “Intelligence Community” and put it in service of Putin and Kim Jong Un, or whatever other nonsense, is just entirely wrong. Simply read the text!

    The whole point of these fearsome reforms with respect to the “Intelligence Community” is to enable “an incoming conservative President” to use all the “intelligence authorities” at his disposal to more “aggressively anticipate and thwart our adversaries, including Russia, Iran, North Korea, and especially China.” Is this what Democrats have in mind when they hyperventilate about Project 2025? Of course not, because the Biden Administration is doing essentially the same exact thing. As usual, however, recognizing the fundamental cross-party continuity in US foreign policy and “national security” serves no one’s short-term partisan interests, so they have to deceive the public about it for votes.

    The document merely recommends mild bureaucratic reorganization, some of which it says has already been implemented by the Biden Administration — at the urging of the outgoing Trump Administration! 

    To help further the legislative intent behind IRTPA, DNI Ratcliffe advised during the transition of incoming Biden DNI Avril Haines that the DNI should be the only Cabinet-level intelligence official. While his recommendation was adopted and has corrected the previously allowed imbalance by making the DNI the only Cabinet official and head of the IC at the table, the ODNI’s effectiveness and direction leave much to be desired.

    With regard to the CIA, Project 2025 decries the tendency of “risk aversion or political bureaucracy to delay execution of the President’s foreign policy goals.” It thus recommends the diminution of bureaucracy and placement of individuals in the agency who will more effectively harness the power of clandestine operations to fortify and expand American hegemony. Another huge shocker!

    The “intelligence” section of the document further advises the renewal of FISA warrantless surveillance, declaring that “Section 702 should be understood as an essential tool in the fight against terrorism, malicious cyber actors, and Chinese espionage.” Which again nicely aligns with Trump’s position, so far as it can be ascertained, seeing as he backed MAGA Mike Johnson’s successful effort to renew FISA in April, on the understanding that they both wanted Trump to be the one wielding that power when it next comes up for reauthorization in two years.

    It would also be fascinating to hear exactly what Biden boosters find so objectionable about the document’s exhortation for the next Administration to double down on “ensuring Israel has both the military means and the political support and flexibility to take what it deems to be appropriate measures to defend itself against the Iranian regime and its regional proxies Hamas, Hezbollah, and Palestinian Islamic Jihad.” Yeah, nothing like that going on at the moment.

    So when the MSNBC crowd shrieks that Project 2025 is the terrifying roadmap for the next Trump Administration, they perhaps have it half right. There’s every reason to think the plan does in fact broadly represent DC conservative priorities for the next administration. But what the shriekers fail to convey is that this comfortably aligns with vaunted bipartisan consensus on critical issues. Many sections could easily have been pilfered from a Democratic think tank.

    The 1981 version of the fearsome Think Tank manifesto

    Yes, there’s a bunch more domestic policy stuff in Project 2025 that I haven’t focused on here. (I’ve only even highlighted a small percentage of the “national security” stuff.) But for the record, Ronald Reagan also ran on abolishing the Department of Education in 1980, back when he was also outsourcing his personnel and policy plans to the reviled Heritage Foundation. The abolition never happened. Whatever your views on this desirability of maintaining the existence of the Department of Education, the fact remains that this has been a bog-standard “Conservative Movement” aspiration for ages. So you might as well call the plan Project 1981 rather than Project 2025. To portray it as some sort of apocalyptic fascism unique to Trump is just totally ridiculous.

    The 1981 version was compiled in 1979, similar to the advance compilation of the “2025” document, which was published in 2023. (The Reagan-era document is about equally as long and comprehensive, clocking in at at least 1077 pages, while the Trump-era document fizzles out at a paltry 920 pages). Comparable plans had also been drafted in the late 1990s in anticipation of the Conservative Movement returning to power after eight years of the Clinton Administration:

    On August 20, 1999, the well-known American conservative think tanks, Heritage Foundation and The Project for a New American Century, together launched a policy statement calling for an end to the US’s “strategic ambiguity” policy on Taiwan, openly calling on the US government to “clearly announce that in case of an attack or blockade of Taiwan, the United States will go to defend Taiwan, including Kinmen and Matsu islands along the coast.” This statement has 23 people’s signatures, including Paul Wolfowitz, Lewis Libby (later served as Chief of Staff to the Vice President), Richard Perle (later was appointed as Chairman of the Defense Policy Board Advisory Committee, Rumsfeld’s main assistant), Richard Armitage (later served as Deputy Secretary of State).

    “Project for a New American Century” might ring a bell as the classically “neoconservative” think tank that in 1998 wrote an infamous letter to Bill Clinton demanding regime change in Iraq. The letter was signed by a bevy of luminaries who’d later serve in the George W. Bush Administration, like Elliott Abrams and John Bolton, who also went on to serve in the… Trump Administration.

    So yes, there’s plenty to be “alarmed” by in “Project 2025,” but none of it is particularly unique to Trump. Instead, it’s part and parcel of longstanding DC Conservatism, sometimes known as Con Inc., which will inevitably shape the personnel and policy framework of a forthcoming Trump Administration — just like it did with the previous Trump Administration. But of course that’s not the fear being stoked by anguished Dems, who are desperate to inspire the 10 millionth Mega Trump Panic in hopes of salvaging their current electoral prospects.

    The Heritage Foundation used to love to tout that “the foundation had a great hour when Ronald Reagan was elected president and found waiting for him three volumes of Heritage material designed to help him chart the nation’s course in the right direction.” Undoubtedly future homages will be made to the amazing greatness of their influence under Trump, while befuddled Democrats wonder how “democracy” managed to remain in tact.

    Tyler Durden
    Fri, 07/12/2024 – 22:05

  • A Big Wreck Is About To Happen At The Intersection Of Artificial Intelligence Boulevard And Net Zero Avenue
    A Big Wreck Is About To Happen At The Intersection Of Artificial Intelligence Boulevard And Net Zero Avenue

    Via Energy Security and Freedom,

    The Big Green Grift, the Energiewende and all the other green energy scams are about to be slowly shuttled aside because we need massive amounts of new energy these schemes cannot deliver. Moreover, we can no longer afford the virtue signaling, power seeking and money grabbing nonsense these ventures involve. Indeed, there’s a big wreck about to happen at the intersection of Artificial Intelligence Boulevard and Net Zero Avenue. Future AI data center demand Is forcing energy discussions to suddenly get very real.

    Google, of course, is already facing the fact the two streets it’s simultaneously traveling are not parallel roads, but, rather, two routes that intersect and the company will be forced to stop and decide which direction it wants to go. Net Zero Avenue, taken to the end of the highway leads the end of Google’s AI dreams, while Artificial Intelligence Boulevard promises huge rewards.

    We wrote about this Google dilemma and which way the evil company will go here. The situation is also nicely summarized in a new report titled “The U.S. Needs a Bigger (Energy) Boat: Putting The Sheer Magnitude of Forecasted Energy Demand into Perspective,” from Pickering Energy Partners. Here are some powerful excerpts (emphasis added):

    [O]ur policymakers may be underestimating a crucial aspect of AI, namely, the anticipated surge in electricity consumption and demand it will command, especially considering that India and China display much higher AI deployment rates. Our research suggests that AI could conservatively double the current electricity consumption in the U.S. to around 8.4 trillion kilowatt-hours.

    If not effectively prepared for and managed, this surge in demand could strain our domestic energy resources, potentially leading to electricity scarcity, increased costs across the United States, greater geopolitical volatility across the globe, and ultimately, a failure on behalf of the U.S. to lead the AI evolution.

    The U.S. is not just a player in the world’s data center industry – we are the dominant force within the global landscape, and it isn’t close. As of March 2024, almost 5,400 data centers exist across fifty-one states in the U.S. The next closest is Germany, which has about one-tenth as many. The number of data centers in the U.S. is nearly 12 times more than in China, a clear testament to the scale and significance of the data center industry in the U.S. and our commitment to remain economically competitive on the global stage over the next century.

    It is also critical to highlight that, as the chart above illustrates, most of the U.S. AI activity is at the exploratory level (U.S. AI Exploration rate is 43% v. Deployment rate of 25%), meaning the industry in the U.S. remains in its relative infancy, especially because, as previously mentioned, we have substantially more data centers than any other country in the world. McKinsey also notes that “2023 was the year the world discovered genAI…2024 is the year organizations truly began using, and deriving value, from this new technology.”

    Data centers operated by Amazon, Microsoft, and Google reign supreme, collectively accounting for over half of all such centers. In the past year, Amazon and Google have been at the forefront, opening the most new data centers in the United States. Even though they are third, Microsoft boasts a network that “connects more than 60 data center regions, 200 data centers, 190 points of presence, and over 175,000 miles of terrestrial and subsea fiber worldwide, which connects to the rest of the internet at strategic global edge points of presence10.” One hundred and seventy-five thousand miles of fiber sounds like a lot – and it is. The circumference of the Earth at the equator is just a smidge under 25,000 miles – so the third-place data center network represents enough fiber to wrap around the Earth’s equator seven times…

    To put the forecasted demand into context, consider this: A recent MIT study found that a single data center consumes electricity equivalent to 50,000 homes. Estimates indicate that Microsoft, Amazon, and Google operate about 600 data centers in the U.S. today…

    Arguments exist that by 2030, 80% of renewable power sources will fulfill electricity demand. For reference, the U.S. generated roughly 240 billion kilowatt hours of solar and 425 billion kilowatt hours of wind, totaling 665 billion kilowatt hours in 2023. Assuming a 50/50 split between wind and solar, that scenario implies that, to satisfy the U.S. electricity demand that adequately facilitates AI competitiveness, wind and solar will have to generate approximately 3.4 trillion kilowatt hours of electricity each. That is more than a ten-fold increase over the next five years. The EIA highlights that the U.S. planned utility-scale electric-generating capacity addition in 2023 included 29 million kilowatts of solar (54% of the total) and 6 million kilowatts of wind (11% of the total), which pales in comparison to the estimated amount required.

    It just doesn’t get much more clear; renewables cannot begin to supply the energy needed for AI data centers. Only fossil fuels and nuclear can get the job done. It’s that simple. AI is not something global elites are going to let slide by. They’ve had a good run with the Big Green Grift but those days are going to gradually (maybe not so gradually) come to an end, as the demand for energy to power AI forces a reconsideration.

    Yes, the rhetoric will likely live on for quite some time, but the reality is that AI is the next big thing, it needs massive energy and the elites invested in it will not be denied. Reality is fast-approaching and it involves a lot of fossil fuels and a lot of nuclear.

    Tyler Durden
    Fri, 07/12/2024 – 21:45

  • Where Inequality Is More & Less Rife
    Where Inequality Is More & Less Rife

    The Global Wealth Report 2024 was released today by the Swiss bank UBS, highlighting where wealth inequalities have grown the furthest.

    As Staista’s Anna Fleck shows in the chart below, South Africa comes top of the list, scoring 82 out of 100 on the inequality index, where 0 indicates total equality and 100 indicates absolute inequality. This is a jump of 17.7 percent since 2008.

    Infographic: Where Inequality Is More & Less Rife | Statista

    You will find more infographics at Statista

    Other countries with particularly high scores were Brazil (81), the United Arab Emirates (77), Saudi Arabia (77) and Sweden (77).

    Even Japan, which at 54 scored the lowest figure of the markets analyzed, is still far from equal.

    The gap on inequality has closed slightly in North America since 2008, with the United States recording a decrease of 2.4 percent in that time frame.

    Inequality has widened in Latin America and much of Eastern Europe and Asia though.

    This is shown on the chart, with Brazil seeing a wealth increase in inequality of 16.8 percent and Mexico a rise of 6.5 percent, as India saw an increase of 16.2 percent, Singapore of 22.9 percent, Indonesia of 15.1 percent, China of 7.4 percent and Japan of 9.4 percent. South Korea and Hong Kong buck the regional trend, with decreases of 8.1 percent and 5.9 percent, respectively.

    According to UBS, while inequality is increasing in fast-growing markets, the opposite is true in a number of mature economies, where middle wealth segments are outpacing the pace of growth of higher wealth brackets.

    While the Gini index is a useful tool for comparing inequality across different markets, it is important to take the measure of absolute wealth into consideration too.

    Tyler Durden
    Fri, 07/12/2024 – 21:40

  • "Vice President Tulsi Gabbard"
    “Vice President Tulsi Gabbard”

    Submitted by QTR’s Fringe Finance

    If it wasn’t evident going into yesterday that President Joe Biden was going to need to step aside, all doubts should now be out of the way.

    For his opening act on Thursday, Biden made his way out of bed and to the NATO summit across town, all for the honor of stepping on stage and referring to Ukrainian president Volodymyr Zelenskiy — whom U.S. taxpayers have gifted hundreds of billions of dollars at Biden’s direction to fight Russia — as “President Putin”. To refer to Zelenskiy as Putin, and at a NATO event nonetheless, is about as big of a f*ck up as you can possibly make given the world’s geopolitical climate right now.

    This would have been like introducing President George W. Bush throwing out the first pitch at Yankee Stadium after 9/11 as “President Osama Bin Laden”.

    And if you weren’t in stitches after his first set, Biden returned later in the evening for an encore at the much heralded ‘Big Boy’ press conference he had been scheduled to give in order to show the world, to quote the movie Big Daddy, that he could “wipe his own ass”.

    But instead of instilling confidence in the nation, Biden coughed, mumbled and stumbled his way through about an hour’s worth of prepared remarks and softball questions.

    At one point, he referred to Vice President Kamala Harris as “Vice President Trump”.

    Sadly, Biden is slurring his words far more noticeably each day. Even for a skeptic of Biden’s, I had to sigh and turn the press conference off before it finished, writing on X last night: “He is cooked. This has to be the end.”

    In other words, even for us conservatives, libertarians and critics of the Biden administration, it’s just getting difficult to watch. Each day jokes about elder abuse look closer and closer to reality, and the humor of a massive clusterf*ck in the Democratic political arena is eroded away by the blossoming realization that it’s simply depressing to watch a human being — somebody’s son, father and husband — deteriorate publicly, without dignity, and surrounded by people too cowardly to do the right thing for him.

    The gaffes last night quickly shot down what little chance Biden had of trying to stay in the race, in my opinion. I know it’s technically “up to him” but the powers that be couldn’t have scripted a worse outcome than him calling Zelenskiy “Putin” and then calling Harris “Trump”. Biden’s goose is cooked, mark my words.

    This means, as I pointed out days ago, the Democrats are likely going to promote Vice President Airhead to the potential nominee spot, despite her outright horrific polling in the 2020 primaries and the fact that for the most part it appears the country still finds her detestable.

    🔥 Zero Hedge readers take 50% off a Fringe Finance annual subscription for life by using this link: ZH50

    And while the Trump campaign has publicly stated they are happy to sit back and watch the Democrats self-immolate, I also believe they are holding off on announcing their Vice President pick until the Democratic nominee is solidified. There’s going to be a significant amount of strategy that goes into Trump’s VP pick: pick someone innocuous because you’re leading or continue on offense? Target minority demographics with a person of color or pick the best person for the job? Find someone who can be as aggressive as Trump or settle for someone who knows how to play the role of second fiddle? I played out a number of these scenarios last month.

    Without trying to answer all of these questions, I’m certain I can answer one: if Kamala Harris winds up as the Democratic nominee, Trump must pick Tulsi Gabbard as his Vice President. There is no better option.

    Not only is Tulsi world famous for having already beat Kamala to a pulp during the 2020 primary debates…

    …but she’s also is extraordinarily intelligent and well spoken…

    …and happens to be an active member of the U.S. military and a woman. She didn’t have to do any “favors” to make her way in the political world, she has had the courage to stand up to the most terrifying political force, the Clintons, in 2019 accurately calling Hillary the “personification of the rot that has sickened the Democratic Party for so long”.

    Additionally, Tulsi’s long held non-interventionist foreign policy ideas fall in line with Trump’s policy of “let’s just use some common sense and get these global conflicts settled and stop the killing, regardless of who is deemed the ‘winner’”. She has made it clear that avoiding World War 3 is far more important to her than prolonging wars and changing regimes overseas. While Nikki Haley’s lobbyists may not like this, it’s what’s best for the nation.

    Photo: The New Yorker

    If you’re a Trump strategist, you have to know that Tulsi not only immediately throws a wet blanket over all the independents who would vote for Kamala because she’s a woman, but in my opinion would also be a perfect compliment for Trump’s style. Tulsi could soften Trump’s image up a bit — she is rife with charming moments — but could also help hold the ‘edge’ Trump conducts business, especially foreign policy business, with. At the end of the day Tulsi went to boot camp and, let’s be honest, could probably kick Kamala Harris’ ass in a fight.

    But, like Trump, I’m sure she’d rather just emanate ‘peace through strength’. And you can say what you want about that strategy, but it kept us out of wars and kept the world at peace for the 4 years Trump was in office. It’s tough to argue with those results. Aloha, Tulsi!

    QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author. This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. These positions can change immediately as soon as I publish this, with or without notice. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

    Tyler Durden
    Fri, 07/12/2024 – 21:33

  • Trump's Return: Get Ready For Chaos To Be Unleashed And Blamed On You
    Trump’s Return: Get Ready For Chaos To Be Unleashed And Blamed On You

    Authored by Brandon Smith via Alt-Market.us

    Yeah, it’s happening. The last half of 2024 is shaping up to be one of the most politically insane in a century and the sparks are already flying. The biggest moment of absurdity so far might be the first presidential debate between Donald Trump and Joe Biden, in which it was made abundantly clear for all the world to see that Biden is on the fast track to crazy town. We’ve been saying for four years that the guy is gone, a dementia case propped up and protected by the DNC and the media. Now, it’s undeniable:

    There’s a vegetable sitting in the Oval Office and the nation is in a panic.

    Leftists are panicking because they’re now realizing their candidate is a farce, the emperor has no clothes and they bet all their cash on one very retarded race horse. Conservatives are celebrating, but also panicking because they think Biden in his senility might launch nukes at any moment.

    There are even people calling for a 25th Amendment intervention to remove Biden because they actually think he makes decisions. He doesn’t. Biden is a proxy for more powerful interests and always has been. Getting rid of Biden early doesn’t solve the greater problem, nor would it prevent a nuclear Apocalypse (if that was ever the plan to begin with). Other people are making his decisions for him.

    In the meantime, there are a host of surprises that could take place before November. As I noted in my article ‘The Juggling Act: Is 2024 A Pivotal Year For The Globalists?’ published in January, the election of 2024 is developing into its own Black Swan event. I stated that:

    “…There is the potential for shock events, such as Biden stepping down at the last minute. Trump being arrested but winning anyway. Or, a major geopolitical crisis which is used by the Democrats as an excuse to “postpone” the election…”

    It’s looking more and more like at least one of these scenarios is about to play out (Biden stepping down or being pushed out by the DNC).  It’s also becoming increasingly more likely that Donald Trump will return to the White House regardless.  For now it appears that Biden wants to cling to his position, but even if he is replaced there’s not a Democrat candidate yet that has the numbers to prevail in November.  And if you think election fraud will be a factor, don;t forget that the votes have to be close in order to rig the outcome.

    The question is, what will this mean for conservatives and patriots going forward? Is this cause for elation, or should Americans be getting ready for the rug to be pulled out from underneath them?

    After Trump’s win in 2016 (which I predicted a year ahead of the elections) I suggested that Trump might be set up as the next Herbert Hoover; the scapegoat for a host of economic and social calamities caused by obscure and shadowy interests.  I also questioned whether or not Trump would be a willing participant in this theater.

    Keep in mind, his cabinet picks in 2016 were a nightmare – Packed with a swarm of banking elites, a member of the Rothschild cartel (Wilber Ross), CFR members and other bad actors. He truly had some of the worst people standing over his shoulder at the time (like Anthony Fauci, for example…).  Even if Trump had good intentions, his advisers certainly did not.

    With the combination of BLM riots, Federal Reserve interest rate hikes, the pandemic hysteria, covid stimulus triggering stagflation, the January 6th “insurrection”, Trump was turned into a pariah (for the most part unjustly). Conservatives in 2020 and beyond were labeled the ultimate villains; the “destroyers of democracy.”  Trump was, in many ways, pigeonholed as another Hoover.

    But something happened during this process that I believe the globalists did not intend; the pandemic agenda failed. The vaccine passports failed. The mandates failed. The average infection fatality rate was a tiny 0.23% and the public was not sufficiently terrified. Too many patriots were refusing to comply. The CDC numbers on vaccinations were clearly inflated to make it look like more people were taking the jab. Almost no one took the boosters.

    It was perhaps one of the biggest blunders the globalists have ever faced. The WEF’s Klaus Schwab, Dr. Evil himself, has faded into the background and retired as executive chairman. The big play for medical tyranny bombed. Now what to do?

    Is it a mistake that the establishment has continued to stick with Biden despite his delirium? Or, did they send Biden into that first debate knowing exactly how bad it was going to go?  Is this a ploy designed to complete the Herbert Hoover scenario? This year, Trump hinted in an interview with Fox Business that he “does not want to become the next Herbert Hoover” inheriting a time bomb economy from Biden. Biden argued in response that Trump was ALREADY like Herbert Hoover because of the jobs lost during covid.

    This is, of course, a false claim.  But the narrative is everywhere: “Trump will oversee a crash in America similar to 1929.”

    Consider for a moment how many different elements of the US economy today are misrepresented by rigged stats. Biden has suppressed inflation stats like CPI by dumping strategic oil reserves onto the market. His employment stats are a complete circus with almost every job “created” going to illegal immigrants, artificially pumping up BLS numbers.  Biden has created false growth in American manufacturing by subsidizing green energy companies with tax dollars.  The media seems intent to ignore the national debt issue, with interest payments amassing over $1 trillion every three months. Finally, the border surge continues unabated (except for a 74% decrease in Texas where they are putting up actual walls and barbed wire).

    And how about that Ukraine situation?  The one which is quickly escalating into wider conflict?  My readers know my predictions on this but think about it from Trump’s perspective:  Biden is leaving behind all the volatile elements of a world war in the making.  Trump will be inheriting a cauldron of nitroglycerine.

    What happens when Biden walks away? All of that economic rigging disappears, and then the real data comes out while Trump is in office.  Maybe WWIII kicks off, too.  And guess who will be blamed?  The fingers will point at Trump, but they will also point at YOU.

    The agenda will be to put conservative and liberty movement principles on trial and paint them as ideals of calamity. Meritocracy, individualism, independence, personal liberty, responsibility and discipline, free markets, private property, everything that makes up the foundations of western civilization is going to be put on the pyre.  Giving Trump an easy win against a cognitive deficient like Biden (or any other weak candidate) might be a setup; letting conservatives gain a moment of power only to find they’re sitting on the throne of a crumbling castle.

    Am I saying don’t to vote for Trump? No. At the very least, the act of voting for Trump sends a message that the American people want what Trump is supposed to represent, and they reject what Biden is supposed to represent. The candidates are far less important than the ideals they are meant to embody.  What I’m saying is, this election might be extra weird for a reason – the fact that Trump is being elevated as the clear choice is suspicious.

    At the very least there will be organized leftist riots in major cities across the US.  As we witnessed in France, the political left has no intention of giving up power and they will do anything to keep it, including burn down the neighborhood.  More reserved liberals will join forces with the most extreme socialist activist groups in order to win at any cost.  Trump’s presence in the Oval Office would be the perfect trigger for an endless parade of DEI clowns and Antifa freaks creating as much pandemonium as possible.

    I’m not talking about the false left/right paradigm.  The false left/right paradigm is irrelevant when it comes to the root problem, which is the preponderance of patriot action or apathy.  If the American people in large numbers stood up tomorrow and all at once decided we were going to shut down the leftists, boot out the globalists and take the government back, we would succeed and there’s nothing anyone could do to stop us.  We’re the largest armed population in the world and by extension the largest army in the world by far.

    It’s up to us, not Trump, to determine the course of our nation’s future.  And if he (or any other political leader) fails to live up to our standards, then at that point we’ll have to do the ugly thing that everyone knows is necessary but no one wants to be responsible for. Just remember that we’re going to be painted as bad guys, not freedom fighters, when we take that step.

    Tyler Durden
    Fri, 07/12/2024 – 21:32

  • Public School Spending Increasing Faster Than Test Scores, Report Finds
    Public School Spending Increasing Faster Than Test Scores, Report Finds

    Authored by Aaron Gifford via The Epoch Times,

    New research indicates that U.S. public school spending has doubled since 2003, outpacing the rate of inflation and showing no clear correlation between more dollars per pupil and higher eighth-grade math and fourth-grade reading scores.

    The Edunomics Lab at Georgetown University released its latest findings last month. The report, titled “Will Academic Recovery Stall When the Federal Relief Funds Dry Up?”  also draws attention to the fiscal cliff many districts face in the year ahead as they weigh expenditures against desired achievement.

    School districts are required to earmark whatever is left of their post-COVID American Rescue Plan Elementary and Secondary School Emergency Relief (ESSER) funds by Sept. 30. The liquidation deadline is Dec. 31. ESSER, established in 2021, allocated $122 billion over three phases to help schools with learning recovery efforts.

    Most of the ESSER money was spent on labor—more teachers, classroom aids, counselors, reading coaches, tutors, subject area specialists, and administrators, but it was not applied to raise pay rates for existing teachers, Edunomics Lab Director Marguerite Roza told The Epoch Times on July 10.

    While one device (laptop or tablet) per child became an industry standard largely funded by federal money, equipment purchases did not make up a significant portion of expenditures, Ms. Roza said. She and her team of researchers interviewed school administrators and analyzed data at the federal and state levels dating back 20 years, including information from the National Assessment of Educational Progress, which runs The Nation’s Report Card website. Many comparisons cited involved shorter time frames, and the findings were largely focused on the pandemic era.

    “The priorities and the value these investments brought varied by state,” Ms. Roza told The Epoch Times on July 10.

    “Some states were able to eke out more value.”

    At the national level, math scores declined sharply between 2013 and 2022, with 30 states reporting that students were more than half of a grade level behind before scores began rising slightly between 2022 and 2023, according to the report.

    For reading, the negative trend line began in 2017, with the average score in 30 states dropping below grade level in 2020 and continuing downward until last year, the report noted.

    Meanwhile, the national average per-pupil spending rate increased by 100 percent between 2003 and 2023 to $16,100 ($1,350 of the 2023 amount came from federal relief funds).

    Total inflation for the two decades was 67 percent, according to the report.

    The report also notes that U.S. schools now have more instructional staff than ever before, with that number increasing from 3,465,906 in 2005 to 3,842,000 this past academic year ending in the spring of 2024. By contrast, the number of K-12 public school students during the same period increased slightly, from 48,150,528 to 49,033,092.

    Ms. Roza stressed that results were varied at the state level. Mississippi, Illinois, Ohio, and Kentucky reported reading/English Language Arts assessment scores averaging above grade levels during the 2022-2023 academic year, while average scores in California, Oregon, Washington State, Virginia, and South Dakota were below grade level.

    Mississippi’s overall per-pupil spending rate has been much lower than that of the schools it outperformed, but its ESSER aid per student, at about $1,600 compared to California’s estimated $1,300, is higher. The report also noted that the Golden State disproportionately spent more money on social-emotional learning, tutoring, and summer programs.

    “But,” Ms. Roza said, “within the states, some individual districts saw some real growth, and some saw lackluster growth. Compton (California) saw quite impressive scores.”

    For math assessments, all states surveyed reported average scores around or above grade level in the 2022-2023 school year, with Tennessee, Pennsylvania, and Mississippi showing the most progress, with average scores approaching or exceeding half of the next grade level, according to the report.

    In the absenteeism measurements section, the report shows that attendance improved in most states between 2022 and 2023, highlighted by Hawaii and Michigan’s 7 percent increases. South Carolina reported a 5 percent decrease, and Louisiana reported a 4 percent decrease.

    “Is it possible to get improved outcomes without sizable funding increases? Yes. There are policy strategies that wouldn’t require new funds,” Ms. Roza said. “What really matters is implementation.”

    She said this research is a work in progress. The 2024 national and state reading and math assessment scores should be available by October, and final ESSER expenditure figures by school district and state should be available next month.

    The U.S. Department of Education notes that while learning recovery in the wake of the pandemic is the highest priority of ESSER, the program also aims to rebuild the educator workforce and help schools operate safely. With the ESSER program ending, many school districts must find other ways to cover those added labor costs, either by increasing the tax levy, making cuts in different areas of the budget, or obtaining more state aid.

    In the Guymon Public School District in the Oklahoma panhandle, about $7 million in ESSER funds were applied to replace the high school’s heating, cooling, ventilation, and air conditioning system, which was considered a facility safety issue. Superintendent Dixie Purdy said the district did not come to rely on aid for other programs and is financially sound heading into future school years.

    Tyler Durden
    Fri, 07/12/2024 – 21:15

  • Democrats Prefer Harris As Potential Alternative Candidate
    Democrats Prefer Harris As Potential Alternative Candidate

    In a survey run by YouGov, respondents who identified as Democrats or as Independents who were Democratic-leaning were divided over whether or not U.S. President Biden should step aside in the presidential elections, with 42 percent saying he should while 43 percent said he should not.

    At the same time, 64 percent said that the Democratic Party should support Biden rather than try to replace him, if he does choose to keep running.

    YouGov then asked which candidates respondents would approve of hypothetically.

    As Statista’s Anna Felck shows in the following chart, Vice President Kamala Harris came out on top with 73 percent support.

    Infographic: Democrats Prefer Harris as Potential Alternative Candidate | Statista

    You will find more infographics at Statista

    Harris was also considered by supporters of the party as the person most likely to be able to hold onto the presidency.

    By contrast, Pete Buttigieg received 57 percent support, while Bernie Sanders received 52 percent, although he also saw the highest level of disapproval of the polled politicians at 34 percent.

    When asked to compare the attributes of Biden and Harris, a varied picture emerges.

    For example, far more respondents considered Harris to be mentally fit (56 percent to Harris, nine percent to Biden, 25 percent equally matched) and a better communicator (47 percent to Harris, 15 percent to Biden, 25 percent even), while Biden received higher scores on being qualified for the role (34 percent to Biden, 13 percent to Harris, 41 percent equal) and being a strong leader (31 percent to Biden, 16 percent to Harris, 34 percent to both).

    The most popular answer to this question on several of the character traits however was that they were equally matched.

    Tyler Durden
    Fri, 07/12/2024 – 20:50

  • A Time Of Famine, And A Time Of War…
    A Time Of Famine, And A Time Of War…

    Authored by Michael Snyder via TheMostImportantNews.com,

    The tremendous suffering that we are seeing all over the world right now is only just the beginning.  As I have documented repeatedly, we are in the midst of the worst global food crisis in modern history, and we haven’t seen this many countries engaged in military conflict since World War II.  In other words, this is a time of famine, and it is a time of war.  This represents a major problem for those that believe that humans are intrinsically good and that humanity is moving into a new golden era of peace and prosperity.  If humans are intrinsically good, why is there so much evil all around us?  Of course the truth is that the evil that we see all around is the product of the evil in human hearts.  Humanity is the reason why there is so much war, so much famine, so much greed, so much corruption, and so much suffering.

    While billionaires in the western world live the high life, vast hordes of people on the other side of the planet are literally starving to death.

    In Sudan, right now more than 25 million people “are facing high levels of acute food insecurity”…

    In addition to the threat of violence, the Integrated Food Security Phase Classification reported that 25.6 million people in Sudan are facing high levels of acute food insecurity, and 8.5 million people are facing emergency food shortages. The IPC also warned about the risk of famine across 14 areas, impacting residents and refugees in areas like Greater Darfur and Greater Kordofan.

    There have been some nightmarish famines in Sudan before, but this is the worst.

    The CEO of World Vision, Edgar Sandoval, says that people in Sudan are literally fighting over anthills because it is the only source of food available in some cases…

    Sandoval also met another mother and her son, who weighed only 26 pounds. He said his heart broke as the mother wept, telling Sandoval that people in her community are fighting each other over anthills because they’re so hungry. She said they’ll eat the millets stored there by the ants.

    “And they’re fighting for that as the only source of food,” Sandoval said. “I think that speaks to the level of desperation that the Sudanese people are facing. It’s the situation that children and moms in particular are facing.”

    Can you imagine what it would be like to be that hungry?

    And can you imagine what it would be like to watch your own children beg for food?

    It is being reported that 730,000 children in Sudan are at “imminent risk of dying”…

    In June, the United Nations Children’s Fund announced that nearly 9 million children in Sudan face acute food insecurity and access to safe drinking water. More than 3,800 children have been killed since the fighting escalated in April 2023, and almost 4 million children under the age of 5 are suffering from acute malnutrition, with 730,000 projected to be at an “imminent risk of dying.”

    When I try to explain what is happening in Sudan to clueless people here in the western world, they look at me like I am from outer space.

    Many of them have never heard about the hordes of people starving on the other side of the planet because the mainstream media is absolutely obsessed with talking about Donald Trump and Joe Biden.

    But this is really happening.

    As I discussed in a previous article, the U.S. ambassador to the United Nations is warning that over 2.5 million people could starve to death in Darfur and Kordofan alone by the end of September…

    The Ethiopian famine killed a million people between 1983 and 1985, according to UN estimates. Thomas-Greenfield said that in a worst-case scenario, a famine in Sudan could become even more lethal.

    “We’ve seen mortality projections estimating that in excess of 2.5 million people, about 15% of the population in Darfur and Kordofan – the hardest hit regions – could die by the end of September,” the ambassador said.

    “This is the largest humanitarian crisis on the face of the planet. And yet, somehow, it threatens to get worse,” she added.

    Meanwhile, military conflicts all over the world just continue to intensify.

    The Russians continue to gain ground in several areas of eastern Ukraine, and this is making a number of Ukraine’s neighbors very nervous.

    In fact, the head of the Polish military just stated that his forces need to prepare for “full-scale conflict”…

    Poland needs to prepare its soldiers for all-out conflict, its armed forces chief of staff said on Wednesday, as the country boosts the number of troops on its border with Russia and Belarus.

    Poland’s relations with Russia and its ally Belarus have deteriorated sharply since Moscow sent tens of thousands of troops into neighboring Ukraine on Feb. 24, 2022, starting a war that is still being fought.

    “Today, we need to prepare our forces for full-scale conflict, not an asymmetric-type conflict,” army chief of staff General Wieslaw Kukula told a press conference.

    Of course Poland is a member of NATO, and so if Poland ends up fighting Russia we will be fighting Russia too.

    This week, Chinese forces are engaged in very alarming military exercises that are taking place just miles from the Polish border…

    Belarus and China kicked off 11-day joint military training exercises Monday, Belarus’ defense ministry said – with activities taking place just miles from the border of Poland, a NATO and European Union member.

    The joint anti-terrorist training “Attacking Falcon” exercises in Belarus would see military personnel from both countries “act together” as one unit in certain stages, Maj. Gen. Vadim Denisenko of the Belarusian military said in a Telegram post.

    I think that Chinese forces are there to ward off a potential invasion of Belarus.

    Ukraine has been building up large numbers of troops and vast quantities of equipment near the border with Belarus for quite some time, and there had been fears that Ukraine may try to do something really stupid.  In fact, officials in Belarus were so concerned that they were publicly warning that they would use tactical nuclear weapons if they were invaded.

    Meanwhile, NATO has started delivering F-16 fighter jets to Ukraine…

    NATO allies on Wednesday announced they had started transferring F-16 jets to Ukraine and stepped up promises to Kyiv on eventual membership in the alliance at a 75th anniversary summit clouded by political uncertainties in the United States.

    In response, Russia has been bombing the daylights out of the airfields where those F-16 fighter jets were supposed to be based.

    I really wish that leaders on both sides would sit down and try to find a peaceful way out of this mess.

    But that isn’t going to happen.

    In the Middle East, western powers are desperately trying to avert a full-blown war between Israel and Hezbollah…

    Israel and the Lebanon-based Hezbollah militant group have been exchanging near-daily fire along the Israel-Lebanon border since Oct. 8. The US and France are attempting to broker a diplomatic solution that would end the fighting. Should those negotiations fail, Israeli officials anticipate a full-blown war with the Iran-backed militia.

    Sadly, I am entirely convinced that such a full-blown war could be just months away.

    This war in the Middle East is still only in the early stages, and the utter carnage that we will eventually witness will shock the entire world.

    We really are living in a time of “wars and rumors of wars”, and famines will intensify as global conflict spreads.

    So no, a new golden era of peace and prosperity is not on the way.

    Instead, our future will be filled with war, famine and a tremendous amount of pain.

    *  *  *

    Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

    Tyler Durden
    Fri, 07/12/2024 – 20:25

  • IRS Strikes Gold: $1 Billion Collected From Wealthy Tax Dodgers
    IRS Strikes Gold: $1 Billion Collected From Wealthy Tax Dodgers

    The Biden administration has collected $1 billion – a few days worth of Ukraine funding – from wealthy tax cheats, in what the Associated Press frames as a showcase of how the agency is making use of monies received from the Inflation Reduction Act of 2022.

    The outlet suggests that the announcement is part of a public push to raise awareness that a Republican takeover of the White House or Congress could mean future budget cuts for the IRS – which last year launched a series of initiatives aimed at pursuing high-wealth individuals who have shirked their tax obligations.

    According to the agency, the campaign is focused on taxpayers with over $1 million in income and over $250,000 in recognized tax debt.

    “President Biden’s Inflation Reduction Act is increasing tax fairness and ensuring that all wealthy taxpayers pay the taxes they owe, just like working families do,” said Treasury Secretary Janet Yellen in a statement.

    Among the initiatives are measures to halt “partnership basis shifting,” potentially raising $50 billion over the next decade, and targeting improper deductions on personal flights via corporate jets. Eugene Steuerle from the Urban-Brookings Tax Policy Center emphasized the positive impact of these efforts, suggesting increased public support for the IRS if they “can show they’re having a positive impact and it’s not impacting average American taxpayers, there would be more public support for this activity and the agency.”

    That said, Republicans are not backing down from threats to make deep cuts to the IRS.

    House Republicans built a $1.4 billion reduction to the IRS into the debt ceiling and budget cuts package passed by Congress in the summer of 2023. The deal included a separate agreement to take $20 billion from the IRS over the next two years and divert that money to other non-defense programs.

    House Republicans’ fiscal year 2025 proposal out of the Financial Services and General Government Subcommittee in June proposes further cuts to the IRS in 2025, and would cut funding to the Direct File program that is being expanded to allow Americans to file their taxes directly with the IRS. -AP

    All of that said- according to Demian Brady, VP of research for the National Taxpayers Union Foundation, says that the IRS is still targeting non-high net worth partnerships for audits. 

    “It should also be noted that nearly two-thirds of audits initiated in 2023 were on those making less than $200,000.“

    Tyler Durden
    Fri, 07/12/2024 – 20:00

  • White House Seeks To Clarify Its Clarification Of Biden's Health
    White House Seeks To Clarify Its Clarification Of Biden’s Health

    Authored by Mike Shedlock via MishTalk.com,

    The above headline would be a great title for the Babylon Bee except for one thing. It’s true.

    President Biden arrived at the NATO summit in Washington, D.C., on Wednesday. JACQUELYN MARTIN/ASSOCIATED PRESS via the Wall Street Journal

    Revisions and More Revisions

    The Wall Street Journal comments on The Tight-Lipped Approach to Biden’s Health Disclosures

    An opaque picture of President Biden’s health has emerged since his disastrous debate performance as a result of shifting accounts of his medical care by the White House and the president’s own refusal to undergo more testing.

    Since the debate, where Biden at times struggled to complete his thoughts and often appeared to freeze with his mouth agape, the White House has rejected calls for greater transparency about the 81-year-old president’s health.

    On at least three occasions since the debate, the White House has had to correct or clarify official statements about Biden’s medical treatment. Most recently, White House press secretary Karine Jean-Pierre said a January visit by neurologist Kevin Cannard to the White House had been for the president’s annual physical, after telling reporters earlier in the day that the visit wasn’t related to Biden’s care.

    On Tuesday, the White House said that the neurologist, Kevin Cannard, had examined the president as part of his annual physical on Jan. 17, the same day that Biden’s performance in a meeting to secure Ukraine funding raised concerns among some lawmakers about the president’s acuity. During the meeting that day, Biden moved slowly, spoke softly and read from notes, deferring frequently to other lawmakers and staffers, some people who attended the meeting said. Cannard’s appointment was scheduled five days in advance, visitor logs show. The White House said there was no connection between the meeting and the exam.

    New answers
    On Tuesday, the White House corrected a previous statement on the Jan. 17 visit by Cannard, the neurologist, to the White House. In a briefing that afternoon, Jean-Pierre told reporters that the Jan. 17 visit by Cannard wasn’t related to care for the president. Later that day, Jean-Pierre contacted the Associated Press, whose reporter had asked about the visit, to say that the visit was in fact for the president’s physical, one of three times she said Cannard had seen Biden for a physical.

    Later that day, the White House released a letter from O’Connor in which he confirmed that Cannard had examined Biden for his annual physicals and said the president hadn’t seen a neurologist outside of those examinations.

    Even that letter left some questions unanswered about why Cannard had visited the White House residence clinic—intended for the first family and senior-most staff as determined by the Defense Department—eight times if he had only examined the president three times. Bates said Thursday that Cannard only went to the residence clinic once, even though visitor logs show he signed in there on eight separate days.

    George Stephanopoulos Interview

    Let’s review some pertinent parts of the Stephanopoulos Biden Interview as noted in my post “It’s a Biden Question” a Musical Tribute to the Stephanopoulos Interview

    Stephanopoulos: I know you said you have an ongoing assessment. Have you had a full neurological and cognitive evaluation?

    Biden: I’ve had– I get a full neurological test everyday with me. And I’ve had a full physical. I had, you know, I mean, I– I’ve been at Walter Reed for my physicals. I mean–uhm yes, the answer.

    Stephanopoulos: I– I know your doctor said he consulted with a neurologist. I– I guess I’m asking– a slightly different question. Have you had the specific cognitive tests, and have you had a neurologist, a specialist, do an examination?

    Biden: No. No one said I had to. No one said. They said I’m good.

    Stephanopoulos: Would you be willing to undergo an independent medical evaluation that included neurological and cognit– cognitive tests and release the results to the American people?

    Biden: Look. I have a cognitive test every single day. Every day I have that test. Everything I do. You know, not only am I campaigning, but I’m running the world. Not– and that’s not hi– sounds like hyperbole, but we are the essential nation of the world.

    Stephanopoulos: … the American people have been watching, yet their concerns about your age and your health are growing. So that’s why I’m asking — to reassure them, would you be willing to have the independent medical evaluation?

    Biden: Watch me between– there’s a lotta time left in this campaign. There’s over 125 days. [Yes, we watched you repeatedly duck very pointed tough questions]

    Stephanopoulos: So the answer–

    Biden: They’ll make a decision.

    Stephanopoulos: Right—the answer right now is, no, you– you don’t want to do that right now.

    Biden: Well, I’ve already done it.

    The Price of Lying and Cover-Ups

    The above transcript is of someone who is either delusional or a liar or both.

    It’s not recent either. It’s been ongoing for four years.

    The coverups have finally taken a toll. People now see the truth: They’ve been lied to for years by the president and a Press willing to lie for him.

    WSJ comments on Biden’s Frailty and the Political Price of Insincerity

    How did they let it get this far? How did Democratic power brokers and progressive media personalities—groups not known for their indifference to winning elections—wait until July 2024 to urge President Biden not to run for re-election?

    Any mildly observant person could see four years ago that Mr. Biden had declined further than a commander in chief should. These pages noted Mr. Biden’s diminished state during and after his 2020 campaign. In the 2012 debate with Paul Ryan, the editorial board remarked on Nov. 19, 2020, Mr. Biden “was aggressive and confident. In 2020, in the rare times he speaks off the cuff without a teleprompter, he looks more tentative, as if grasping for an argument or words that he knows are around here somewhere.”

    Democrats disregarded this and 10,000 similar observations because they took them to be insincere, and the political left has become so accustomed to insincerity as not to recognize its opposite. On the left—particularly in the New York Times and other elite outlets—substantive complaints are routinely presented as procedural or ethical ones. Rather than make a straightforward argument that a person or policy is wrong on the merits, elected Democrats, following the media’s lead, typically raise technical or otherwise secondary objections they plainly don’t care about.

    Having convinced themselves that the president’s infirmity was a right-wing invention, Democrats find themselves in the unenviable position of having to acknowledge the truth of what their opponents have been saying for years. The whole mess might have been avoided if Democrats had credited their critics with sincerity.

    The Lie Is Disclosed

    One cannot put a disclosed lie back in the bottle.

    The press has been forced to admit Biden’s This lie, and now they are in a race to protect their own reputations.

    As a result, the Left-wing media is now in competition to unsweep the dirt it swept under the rug out of fear of losing more readership.

    Unprecedented Setup

    Biden now has to deal with an openly hostile press. This is an unprecedented setup for Democrats in general and Biden specifically.

    There are two things I am sure of: 1) More clarifications will be needed. And 2) The press will be hostile until Biden drops out.

    When is that?

    Is Biden Bluffing or Do Democrats Have a Defendable Strategy?

    I discussed the possibility of a Biden bluff (Nate Silver’s theory), and a purposeful timeline strategy (my theory), in Is Biden Bluffing or Do Democrats Have a Defendable Strategy?

    If Biden does not drop out before or during the live convention, my theory will be proven false.

    There is no way other than direct admission to prove either theory correct. However, if Biden drops out on the schedule I propose, or during the live convention, it is strong evidence my theory is the correct one.

    I have specific timelines for two events. See above post for details.

    Tyler Durden
    Fri, 07/12/2024 – 19:40

  • China Unveils Military Drills With Russia, Accuses 'Hegemon' US Of Seeking To 'Control' Asia-Pacific
    China Unveils Military Drills With Russia, Accuses ‘Hegemon’ US Of Seeking To ‘Control’ Asia-Pacific

    China unveiled Friday that it has been conducting major joint naval drills with Russia along its southern coast, during the same week that NATO leaders met in Washington D.C.

    The drills have apparently already been underway for a while, since “early July” – according to a Chinese military statement, and have been dubbed Joint Sea-2024. They are slated to continue for several more days into mid-July.

    Illustrative image via Xinhua

    The defense ministry identified that the drills, which include an aerial component, are centered near the southern city of Zhanjiang, and aim “to demonstrate the resolve and capabilities of the two sides in jointly addressing maritime security threats and preserving global and regional peace and stability.”

    The exercises “will further deepen China-Russia comprehensive strategic partnership of coordination for the new era,” the ministry continued.

    China and Russia are without doubt signaling the West that their relations and cooperation on the levels of defense, industry, and technology will remain ironclad. 

    Leaders of NATO this week issued a communique which among other things declared that Beijing “cannot enable the largest war in Europe in recent history” without facing repercussions.

    China has remained officially neutral on Ukraine, but has still faced US sanctions for supplying Russia with industrial parts and goods which are vital to Russia’s defense manufacturing sector.

    One analyst was cited in The New York Times as pointing out that the NATO statement was especially strong and full-throated: 

    “It’s a very rare move for NATO to openly accuse China, saying Beijing is massively supporting Russia’s defense industrial base,” said Liou Shiau-shyang, an expert on China and Russia at the Institute for National Defense and Security Research, a government-funded research group in Taiwan. “Clearly, the United States has won over some skeptics who did not see China as a key player in the Russia-Ukraine war.”

    Meanwhile China has responded in part through a series of English language op-eds in state-run Global Times, with themes of NATO constantly “hyping” the China threat.

    For example, one Tuesday article in the publication charged that Washington is using NATO to expand its hegemony into southeast Asia:

    NATO, which is celebrating its 75th anniversary but should have been ditched into the trash bin of history long ago, is now weak internally and facing numerous challenges. The uncertainty concerning the French parliamentary elections, the US upcoming presidential elections, and the increase in European defense spending have raised concerns. NATO is no longer a united organization on many issues. This already loose alliance, under the leadership of the US, is now hoping to build unity by spreading the rumor that “China is threatening regional security.” 

    In fact, the US is not only aiming to contain China through NATO, but to control the entire Asia-Pacific region. In order to achieve this goal, NATO is trying to woo regional countries in many ways, constantly creating and exaggerating security crisis in the Asia-Pacific. 

    The fact has remained that the more that Moscow and Beijing find themselves in US crosshairs and under Western pressure, the closer they become, despite having been historic rivals throughout much of the prior hundred years. Biden did not have an answer to this when asked Thursday about this policy backfiring on this front.

    https://platform.twitter.com/widgets.js

    It was only in early 2022, very soon before the Russian invasion of Ukraine, that Presidents Xi and Putin declared their countries’ partnership to have “no limits”.

    Tyler Durden
    Fri, 07/12/2024 – 19:20

  • Will Debt Sink The American Empire?
    Will Debt Sink The American Empire?

    Authored by Peter St. Onge via Money Metals,

    “Will Debt Sink the American Empire?”

    So asks the Wall Street Journal, in an uncharacteristically gloomy article for the bull market’s paper of record.

    They kick off with the problem: America is “cruising” into an uncharted sea of federal debt, with a government seemingly incapable of turning it around.

    In other words, the uniparty has set its course, and there’s no cavalry coming.

    The Runaway Train of Deficits

    We’re currently adding a fresh trillion of debt every hundred days, on our way to $35 trillion.

    Meanwhile, the deficit is about to break $2 trillion – for perspective, all federal revenue under George W Bush averaged around $2 trillion.

    Debt interest *alone is set to cross $1 trillion, eclipsing even our bloated military budget that beaches quarter-billion dollar piers in Gaza for sport.

    The next milestone after that is Medicare spending, which together with Social Security has its own $78 trillion unfunded liability, according to its own Board of Trustees – outside estimates are higher.

    Governments Are Rabid by Nature

    Now, none of this is shocking: governments by nature try to spend too much – indeed, much of economic history is made up of governments desperately trying to finance their mountains of debt.

    Debt brought down Rome, first with hyperinflation then with a gutted military that barbarians walked right over.

    It brought down Spain, as New World gold finances an effective government takeover of the private sector. And France, bankrupted by financing foreign wars – in this case, the American Revolution. The Qing collapsed under debt and even Great Britain who owned half the earth for nearly a hundred years.

    It’s why we got the Magna Carta – indeed, Constitutions – as kings pleaded for more money. It’s how we got central banks, as first Britain then the rest of the world licensed money printers in exchange for debt finance.

    To this day government debt crashes countries – countries from Turkey to Venezuela to Nigeria are currently undergoing debt crises, with Argentina desperately trying to pull out of one.

    How Does It End?

    And, with so many historical cases, we know exactly how this ends: investors stop buying government debt, shutting out governments and leading to massive austerity and soaring inflation as the government retrenches.

    Going by history, the government will cancel the trillions it promised — starting with Social Security and Medicare — then pull back to where it can pay the Praetorian Guard and not much else.

    In short, once debt hits the magic line, Washington goes from Sugar Daddy to wild animal. And, historically, it happens much faster than people imagine — in Hemingway’s famous phrase, countries go bankrupt gradually then all at once.

    There Is a Ray of Hope

    Washington’s spending freight train can be stopped – in fact, we did stop it in the ’90s under Clinton and Gingrich: From 1997 to 2000 we ran budget surpluses totaling nearly $600 billion.

    The key was gridlock – two parties that despised each other so much that the only thing they could agree on was to sabotage each other’s plans.

    Unfortunately, whether it was corporate donors or golden parachutes for politicians, both parties have long since folded and are now eager to cooperate so long as they both get everything they want. So Democrats feed their activist army at taxpayer expense, while Republicans instead give ammo to Ukraine.

    This all means there is a ray of fiscal hope.

    If, say, President Trump were to face a democrat Congress that hates him so much it blocks everything he does – not an impossible thing to imagine.

    Or, if you swing that way, a President Biden – or Harris – is subjected to similar antipathy from a GOP Congress.

    Or, dare we dream, a GOP that actually stands up on the debt ceiling, damn the media torpedos or wait a couple of years and it’s a crisis in the entire country.

    We know which one Washington will pick. But it’s ultimately the voters who run the joint.

    Tyler Durden
    Fri, 07/12/2024 – 19:00

  • What Snapped? US Ground Beef Retail Prices Jump Most Since Covid Meatpacking Crisis
    What Snapped? US Ground Beef Retail Prices Jump Most Since Covid Meatpacking Crisis

    The latest data from the United States Department of Agriculture (USDA) reveals that monthly retail ground beef prices just recorded their most significant increase since early 2020, a period in time when major meat processing companies were shuttering plants nationwide. Prices of retail ground beef per pound jumped to new highs in June, with data going back to 2008. This is more bad news for the middle class, which is under severe financial pressure with elevated inflation and high interest rates, resulting in a pullback in consumer spending ahead of the presidential elections this fall. 

    Let’s start with the 6.294% rise in June’s retail ground beef prices, marking the largest monthly increase since the 10% spike in May 2020. Back then, the theme was that the closure of packaging plants would crimp production. Now, it’s the summer grilling season as US cattle inventory plunges to the smallest size in 73 years. 

    The average supermarket price for ground beef jumped .324 cents in June to a new record high of $5.472. USDA data goes back to 2008. 

    Under President Biden’s first term, the percentage change of ground beef per pound has jumped a whopping 38%!

    Readers have been well informed about ‘beeflation’ and why it’s happening: 

    Soaring beef prices comes at a time when the middle class is suffering in the era of failed Bidenomics. We have cited a number of reports from corporate America and top Wall Street analysts who are warning about a consumer slowdown:

    If the US had a ‘strategic beef reserve, ‘ now would be the time to dump beef into the market. Otherwise, consumers should brace for even higher prices, with the US herd size unlikely to increase anytime soon.

    Tyler Durden
    Fri, 07/12/2024 – 18:40

  • Fearing New Panama President Will Block Key Route To US, Migrants Flood Darién Gap
    Fearing New Panama President Will Block Key Route To US, Migrants Flood Darién Gap

    Authored by Darlene McCormick Sanchez via The Epoch Times,

    Thousands of migrants streamed into Panama through the treacherous jungle of the Darién Gap last week, with many fearing that the route will be shut down, thereby dashing their hopes of reaching the United States.

    The influx of migrants intent on crossing the U.S. southwest border unlawfully came as Panama’s new president, Raúl Mulino, took steps to stop the flow through the Darién Gap.

    On July 1, the same day that he took office, Mr. Mulino forged a deal with the United States to pay for repatriation flights for migrants entering Panama on their way to the United States.

    Migrants expressed desperation and sometimes frustration at the idea that Panama would close the dangerous passageway from Colombia.

    In February, The Epoch Times visited the four migrant camps located in Panama, where migrants who had just made it out of the Darién Gap described lawless gangs, whose members robbed, raped, and murdered, along the route.

    Several migrants interviewed on-site last week said Panama should start accepting migrants who fly into the country or create another pathway to facilitate their journey to the United States.

    At least 1,000 migrants per day on average arrived at the camps last week.

    Traffic dropped to roughly half that on July 5 as SENAFRONT, Panama’s national border patrol, began blocking jungle pathways using concertina wire, also known as razor wire.

    Video recordings posted on social media by an Epoch Times freelance reporter about the Darién Gap being blocked prompted an avalanche of questions and requests for help in Spanish.

    One social media user who said he had four children asked when the route would close because he wants to cross in late July, but he doesn’t yet have the money.

    Users posted pleas for help in guiding them through the Darién Gap or into Mexico.

    Some expressed disbelief that the passageway north was being shut down, while others cursed the news.

    Of the migrants exiting the Darién Gap over a four-day period last week, at least 700 were Chinese nationals who made their way into camp Canaán Membrillo in Panama.

    The more-affluent Chinese migrants use the Carreto route to get to Canaán Membrillo.

    The Carreto route is used by smuggling organizations to move migrants into Panamanian territory by sea before docking and taking a shorter jungle trail by foot.

    Panama President-elect José Raúl Mulino visits the Reception Center for Migrant Care in Lajas Blancas, in the jungle province of Darién, Panama, on June 28, 2024. Mr. Mulino has pledged to close the dangerous Darién Gap, a crucial corridor for migrants heading to the U.S. border. (Martin Bernetti/AFP via Getty Images)

    Several migrants who spoke with The Epoch Times said they are making their journey to America now because they fear President Joe Biden’s term is ending.

    “He’s going, so I’m coming,” one Chinese migrant said.

    Two Chinese migrants who spoke on camera but didn’t want to be named, cursed Chinese leader Xi Jinping and the Chinese Communist Party.

    The pair indicated that they wanted to go to the United States because of the freedom that its citizens enjoy, saying there are no human rights in China.

    Some migrants said family members had told them they could vote in the United States.

    Many said they would vote for President Biden if given the chance. One of the Chinese migrants said he would vote for former President Donald Trump if he could “because Trump is more tough” on the Chinese regime.

    He said he believes that some Chinese nationals crossing into the United States are Beijing spies.

    At Panama’s Bajo Chiquito migrant camp, one Indian national who gave his first name as Monish said he is concerned that he could be deported if former President Trump is reelected.

    Monish believes it is legal to walk into the United States because his friends who have already done so told him that the U.S. Constitution says that “no human is illegal.”

    “Joe Biden is a very good person. He’s very helpful for immigrants,” Monish said.

    Panama began placing razor wire inside the dense jungle, cutting off some routes used by human smugglers.

    Homeland Security Secretary Alejandro Mayorkas, who attended Mr. Mulino’s inauguration, signed a memorandum of understanding to provide assistance to Panama for illegal migrant repatriation flights out of the country.

    Illegal immigrants arrive at the Reception Center for Migrant Care in Lajas Blancas, in Darién, Panama, on June 28, 2024. Panama reported more than 500,000 migrant crossings in the Darién Gap in 2023. (Martin Bernetti/AFP via Getty Images)

    “As the United States continues to secure our borders and remove individuals without a legal basis to remain, we are grateful for our partnership with Panama to manage the historic levels of migration across the Western Hemisphere,” Mr. Mayorkas said in a statement about the deal.

    The agreement is “designed to jointly reduce the number of migrants being cruelly smuggled through the Darién, usually en route to the United States,” according to a statement from National Security Council spokesperson Adrienne Watson.

    Sending migrants back home “will help deter irregular migration in the region and at our southern border and halt the enrichment of malign smuggling networks that prey on vulnerable migrants,” she said.

    The United States agreed to supply Panama with equipment, transportation, and logistics to send migrants illegally entering Panama back to their countries.

    Panama has reported record numbers of crossings along the Darién jungle pathway in recent years, including more than 520,000 in 2023 alone.

    Mr. Mulino, the country’s 65-year-old former security minister and new president, promised to shut down the migration route controlled by criminal organizations.

    “I won’t allow Panama to be an open path for thousands of people who enter our country illegally, supported by an international organization related to drug trafficking and human trafficking,” he said during his inauguration speech.

    However, Panama will not be getting help from its neighbor Colombia.

    The Ombudsman’s Office of Colombia put out a statement cautioning Panama to not violate the “mobility rights” of migrants.

    Illegal immigrants who crossed the Darién Gap into Panama wait in line for bus transportation to Costa Rica, in the Lajas Blancas migrant camp in Darién, Panama. (The Epoch Times)

    Colombia’s notice warned its neighbor to not violate international law, which forbids countries from returning asylum seekers to places where they may face danger.

    Nongovernmental organizations (NGOs)—many of which have received millions in U.S. taxpayer dollars—embedded in Panama help migrants with food, shelter, medical aid, and maps at the migrant camps.

    One NGO, Human Rights Watch, cast doubt on Panama’s ability to close the Darién Gap completely and feared it would force migrants to find more dangerous routes.

    “Whatever the reason for their journey, migrants and asylum-seekers crossing the Darién Gap are entitled to basic safety and respect for their human rights along the way,” said Juanita Goebertus, Americas director of Human Rights Watch.

    Tyler Durden
    Fri, 07/12/2024 – 18:20

  • Visualizing The Soaring Costs Of US Fast Food Chains
    Visualizing The Soaring Costs Of US Fast Food Chains

    Fast food joints were once the go-to option for quick, cost-friendly meals, but now, they’re starting to pinch the budget.

    Inflation has hit fast food chains hard in the past decade, with many restaurants seeing an average price increase on menu items of more than 50%.

    This graphic, via Visual Capitalist’s Kayla Zhu, visualizes the average price increase of 10 core menu items from select American fast food chains, as well as the change in the consumer price index (U.S. city average) for food away from home, from 2014 to 2024.

    Fast food chain data comes from Finance Buzz and the food away from home figure comes from the Federal Reserve’s March 2024 Consumer Price Index data.

    The Rising Costs of Dining Out

    On average, eating at these 10 fast food restaurants has gotten 63% more expensive since 2014, as shown in the table below.

    McDonald’s leads the pack in term of fast food inflation, with some of its food items doubling in price since 2014. The company likely took notice of complaints of its rising prices, and is preparing to roll out a month-long, affordable $5 combo meal deal this summer.

    While not visualized on the graphic above, Subway and Starbucks were the only two restaurants that had average price increases that were lower than food away from home inflation, at 39% for both restaurants.

    As the cost of dining out has increased across the board, with even fast food options surpassing overall inflation, consumers are running out of cheaper alternatives when it comes to having food away from home.

    Tyler Durden
    Fri, 07/12/2024 – 18:00

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Today’s News 12th July 2024

  • Value Of Norway's Oil Fund Soars To New High Of $1.7 Trillion
    Value Of Norway’s Oil Fund Soars To New High Of $1.7 Trillion

    By Charles Kennedy of OilPrice.com

    For the first time in its nearly three-decade history, Norway’s oil fund, the world’s largest sovereign wealth fund, has just exceeded the market value of 18 trillion Norwegian crowns, which equals $1.691 trillion as of Wednesday.

    Government Pension Fund Global, as the Norwegian fund is officially known, was created in the 1990s and the government started transferring revenues from Norway’s oil and gas industry into the fund in 1996.

    Since then, the fund has invested in equities and fixed income globally, raising its value with the returns.  

    In October 2019, the value of the fund exceeded 10 trillion Norwegian crowns and in May 2023, the fund’s market value topped the threshold of 15 trillion Norwegian crowns.  

    The weak Norwegian crown against the U.S. dollar has contributed somewhat to the new height of the fund’s value, but it is the equity investments in the U.S. stock market, in which the fund is heavily weighted, that have driven the record value, Nils Kristian Knudsen, an analyst at Handelsbanken, told Norwegian outlet FinansWatch.

    For the first quarter of 2024, the fund returned 1.21 trillion crowns ($113 billion), which was the highest quarterly return in absolute terms since the fund was set up in 1996.

    “Our equity investments had a very strong return in the first quarter, particularly driven by the tech sector,” Trond Grande, Deputy CEO of Norges Bank Investment Management, said in April, commenting on the fund’s performance in Q1.

    The Norwegian fund owns on average 1.5% of all listed companies globally. The equity investments – which account for 72.1% of the fund’s total investments – consist of ownership shares in about 9,000 companies worldwide. A total of 26% of the fund’s assets are invested in fixed income, 1.8% in unlisted real estate, and 0.1% in renewable energy infrastructure.

    The fund, which is commonly referred to as ‘Norway’s oil fund’ because it was created with oil and gas revenues, is a shareholder in many large companies in the world, including Big Oil, and has the power to influence other investors with its investment decisions.

    As of the end of 2023, they held stakes in 220 energy firms in 35 countries, representing 2.6% of all investments. The fund held 3.4% in BP, 2.88% in Shell, 2.42% in TotalEnergies, 1.35% in ExxonMobil, and 1% in Chevron.

    Tyler Durden
    Fri, 07/12/2024 – 02:00

  • Project Total Control: Everything Is A Weapon When Totalitarianism Is Normalized
    Project Total Control: Everything Is A Weapon When Totalitarianism Is Normalized

    Authored by John & Nisha Whitehead via The Rutherford Institute,

    “The biggest mistake I see is people waiting for A Big Sign that’ll tell them that things have gone too far. One Big Thing that police or lawmakers or the president/leaders will do that will cross the line. It’ll never come because they won’t cross it. They’ll move the line. That line you think you stand behind is shifting everyday with little actions, bills, legislations… That line will stop moving one day, & it’ll be too late… Every day, your sensitivity is being eroded by these willful atrocities. The envelope for what you’ll accept is being pushed. One day, all of these things will be your new normal.”

    – Nigerian writer Suyi Davies Okungbowa

    The U.S. government is working to re-shape the country in the image of a totalitarian state.

    This has remained true over the past 50-plus years no matter which political party held office.

    This will remain true no matter who wins the 2024 presidential election.

    In the midst of the partisan furor over Project 2025, a 920-page roadmap for how to re-fashion the government to favor so-called conservative causes, both the Right and the Left have proven themselves woefully naive about the dangers posed by the power-hungry Deep State.

    Yet we must never lose sight of the fact that both the Right and the Left and their various operatives are extensions of the Deep State, which continues to wage psychological warfare on the American people.

    Psychological warfare, according to the Rand Corporation, “involves the planned use of propaganda and other psychological operations to influence the opinions, emotions, attitudes, and behavior of opposition groups.”

    For years now, the government has been bombarding the citizenry with propaganda campaigns and psychological operations aimed at keeping us compliant, easily controlled and supportive of the government’s various efforts abroad and domestically.

    The government is so confident in its Orwellian powers of manipulation that it’s taken to bragging about them. For example, in 2022, the U.S. Army’s 4th Psychological Operations Group, the branch of the military responsible for psychological warfare, released a recruiting video that touts its efforts to pull the strings, turn everything they touch into a weapon, be everywhere, deceive, persuade, change, influence, and inspire.

    “Have you ever wondered who’s pulling the strings?” the psyops video posits. “Anything we touch is a weapon. We can deceive, persuade, change, influence, inspire. We come in many forms. We are everywhere.”

    This is the danger that lurks in plain sight.

    Of the many weapons in the government’s vast arsenal, psychological warfare may be the most devastating in terms of the long-term consequences.

    As the military journal Task and Purpose explains, “Psychological warfare is all about influencing governments, people of power, and everyday citizens.”

    Mind you, these psyops (psychological operations) campaigns aren’t only aimed at foreign enemies. The government has made clear in word and deed that “we the people” are domestic enemies to be targeted, tracked, manipulated, micromanaged, surveilled, viewed as suspects, and treated as if our fundamental rights are mere privileges that can be easily discarded.

    This is what is referred to as “apple-pie propaganda.”

    Aided and abetted by technological advances and scientific experimentation, the government has been subjecting the American people to “apple-pie propaganda” for the better part of the last century.

    Consider some of the ways in which the government continues to wage psychological warfare on a largely unsuspecting citizenry in order to acclimate us to the Deep State’s totalitarian agenda.

    Weaponizing violence in order to institute martial law. With alarming regularity, the nation continues to be subjected to spates of violence that terrorizes the public, destabilizes the country’s ecosystem, and gives the government greater justifications to crack down, lock down, and institute even more authoritarian policies for the so-called sake of national security without many objections from the citizenry.

    Weaponizing surveillance, pre-crime and pre-thought campaigns. Surveillance, digital stalking and the data mining of the American people add up to a society in which there’s little room for indiscretions, imperfections, or acts of independence. When the government sees all and knows all and has an abundance of laws to render even the most seemingly upstanding citizen a criminal and lawbreaker, then the old adage that you’ve got nothing to worry about if you’ve got nothing to hide no longer applies. Add pre-crime programs into the mix with government agencies and corporations working in tandem to determine who is a potential danger and spin a sticky spider-web of threat assessments, behavioral sensing warnings, flagged “words,” and “suspicious” activity reports using automated eyes and ears, social media, behavior sensing software, and citizen spies, and you having the makings for a perfect dystopian nightmare. The government’s war on crime has now veered into the realm of social media and technological entrapment, with government agents adopting fake social media identities and AI-created profile pictures in order to surveil, target and capture potential suspects.

    Weaponizing digital currencies, social media scores and censorship. Tech giants, working with the government, have been meting out their own version of social justice by way of digital tyranny and corporate censorship, muzzling whomever they want, whenever they want, on whatever pretext they want in the absence of any real due process, review or appeal. Unfortunately, digital censorship is just the beginning. Digital currencies (which can be used as “a tool for government surveillance of citizens and control over their financial transactions”), combined with social media scores and surveillance capitalism create a litmus test to determine who is worthy enough to be part of society and punish individuals for moral lapses and social transgressions (and reward them for adhering to government-sanctioned behavior). In China, millions of individuals and businesses, blacklisted as “unworthy” based on social media credit scores that grade them based on whether they are “good” citizens, have been banned from accessing financial markets, buying real estate or travelling by air or train.

    Weaponizing compliance. Even the most well-intentioned government law or program can be—and has been—perverted, corrupted and used to advance illegitimate purposes once profit and power are added to the equation. The war on terror, the war on drugs, the war on COVID-19, the war on illegal immigration, asset forfeiture schemes, road safety schemes, school safety schemes, eminent domain: all of these programs started out as legitimate responses to pressing concerns and have since become weapons of compliance and control in the police state’s hands.

    Weaponizing entertainment. For the past century, the Department of Defense’s Entertainment Media Office has provided Hollywood with equipment, personnel and technical expertise at taxpayer expense. In exchange, the military industrial complex has gotten a starring role in such blockbusters as Top Gun and its rebooted sequel Top Gun: Maverick, which translates to free advertising for the war hawks, recruitment of foot soldiers for the military empire, patriotic fervor by the taxpayers who have to foot the bill for the nation’s endless wars, and Hollywood visionaries working to churn out dystopian thrillers that make the war machine appear relevant, heroic and necessary. As Elmer Davis, a CBS broadcaster who was appointed the head of the Office of War Information, observed, “The easiest way to inject a propaganda idea into most people’s minds is to let it go through the medium of an entertainment picture when they do not realize that they are being propagandized.”

    Weaponizing behavioral science and nudging. Apart from the overt dangers posed by a government that feels justified and empowered to spy on its people and use its ever-expanding arsenal of weapons and technology to monitor and control them, there’s also the covert dangers associated with a government empowered to use these same technologies to influence behaviors en masse and control the populace. In fact, it was President Obama who issued an executive order directing federal agencies to use “behavioral science” methods to minimize bureaucracy and influence the way people respond to government programs. It’s a short hop, skip and a jump from a behavioral program that tries to influence how people respond to paperwork to a government program that tries to shape the public’s views about other, more consequential matters. Thus, increasingly, governments around the world—including in the United States—are relying on “nudge units” to steer citizens in the direction the powers-that-be want them to go, while preserving the appearance of free will.

    Weaponizing desensitization campaigns aimed at lulling us into a false sense of security. The events of recent years—the invasive surveillance, the extremism reports, the civil unrest, the protests, the shootings, the bombings, the military exercises and active shooter drills, the lockdowns, the color-coded alerts and threat assessments, the fusion centers, the transformation of local police into extensions of the military, the distribution of military equipment and weapons to local police forces, the government databases containing the names of dissidents and potential troublemakers—have conspired to acclimate the populace to accept a police state willingly, even gratefully.

    Weaponizing politics. The language of fear is spoken effectively by politicians on both sides of the aisle, shouted by media pundits from their cable TV pulpits, marketed by corporations, and codified into bureaucratic laws that do little to make our lives safer or more secure. Fear, as history shows, is the method most often used by politicians to increase the power of government and control a populace, dividing the people into factions, and persuading them to see each other as the enemy. This Machiavellian scheme has so ensnared the nation that few Americans even realize they are being manipulated into adopting an “us” against “them” mindset. Instead, fueled with fear and loathing for phantom opponents, they agree to pour millions of dollars and resources into political elections, militarized police, spy technology and endless wars, hoping for a guarantee of safety that never comes. All the while, those in power—bought and paid for by lobbyists and corporations—move their costly agendas forward, and “we the suckers” get saddled with the tax bills and subjected to pat downs, police raids and round-the-clock surveillance.

    Weaponizing genetics. Not only does fear grease the wheels of the transition to fascism by cultivating fearful, controlled, pacified, cowed citizens, but it also embeds itself in our very DNA so that we pass on our fear and compliance to our offspring. It’s called epigenetic inheritance, the transmission through DNA of traumatic experiences. For example, neuroscientists observed that fear can travel through generations of mice DNA. As The Washington Post reports, “Studies on humans suggest that children and grandchildren may have felt the epigenetic impact of such traumatic events such as famine, the Holocaust and the Sept. 11, 2001, terrorist attacks.”

    Weaponizing the dystopian future. With greater frequency, the government has been issuing warnings about the dire need to prepare for the dystopian future that awaits us. For instance, the Pentagon training video, “Megacities: Urban Future, the Emerging Complexity,” predicts that by 2030 (coincidentally, the same year that society begins to achieve singularity with the metaverse) the military would be called on to use armed forces to solve future domestic political and social problems. What they’re really talking about is martial law, packaged as a well-meaning and overriding concern for the nation’s security. The chilling five-minute training video paints an ominous picture of the future bedeviled by “criminal networks,” “substandard infrastructure,” “religious and ethnic tensions,” “impoverishment, slums,” “open landfills, over-burdened sewers,” a “growing mass of unemployed,” and an urban landscape in which the prosperous economic elite must be protected from the impoverishment of the have nots. “We the people” are the have-nots.

    The end goal of these mind control campaigns—packaged in the guise of the greater good—is to see how far the American people will allow the government to go in undermining our freedoms.

    The facts speak for themselves.

    Whatever else it may be—a danger, a menace, a threat—the U.S. government is certainly not looking out for our best interests, nor is it in any way a friend to freedom.

    When the government views itself as superior to the citizenry, when it no longer operates for the benefit of the people, when the people are no longer able to peacefully reform their government, when government officials cease to act like public servants, when elected officials no longer represent the will of the people, when the government routinely violates the rights of the people and perpetrates more violence against the citizenry than the criminal class, when government spending is unaccountable and unaccounted for, when the judiciary act as courts of order rather than justice, and when the government is no longer bound by the laws of the Constitution, then you no longer have a government “of the people, by the people and for the people.”

    What we have, as I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, is a government of wolves.

    Tyler Durden
    Thu, 07/11/2024 – 23:40

  • People Are Now Setting Up Trusts To Last Hundreds Of Years So They Can Cryogenically Freeze Themselves
    People Are Now Setting Up Trusts To Last Hundreds Of Years So They Can Cryogenically Freeze Themselves

    It may be soon that the expression “you can’t take your money with you when you die” doesn’t ring as true as it used to.

    That’s because the wealthy are now employing estate attorneys who are helping them set up trusts they can tap into “hundreds of years” later for people who are considering attempting to cryogenically preserve themselves, a new Bloomberg article revealed this week. 

    Mark House, an estate lawyer, told Bloomberg: “The idea of cryopreservation has gone from crackpot to merely eccentric. Now that it’s eccentric, it’s kind of in vogue to be interested in it.”

    An estimated 5,500 people plan for cryogenic preservation, with House having worked with about 100 of them.

    Steve LeBel, a 76-year-old retired hospital executive from Michigan, sees joining the roughly 500 already preserved as a dream. An avid hobbyist and writer of young-adult fantasy novels, LeBel cherishes life and doesn’t want financial barriers to impede a second chance.

    Bloomberg writes that LeBel plans to place $100,000 in his revival trust, with the remainder going to his daughter, her husband, and his foundation.

    LeBel said: “I really want to figure out a solution, otherwise I’ll be in there with my fingers crossed, hoping there’s money left over, 200 years from now, to pay for the resurrection process.”

    Which leads to our question: when the hell is anyone going to teach Le Bel about the miracles of what inflation will do to that $100,000 over the course of hundreds of years? He’ll be lucky to buy a Snickers bar with it in 200 years. 

    The revival trust is a variation of the dynasty trust, typically used by the ultra-wealthy to pass wealth down generations. Both can help avoid the 40% federal estate tax on estates over $13.6 million, though investment gains are taxed and trustees charge fees. House requires a minimum of $500,000 in the trust to cover these fees.

    The key difference lies in the beneficiaries. House sees the revived person as legally distinct since a person cannot be their own trust beneficiary. He appoints a trust protector to determine revival, avoiding legal complications.

    Bloomberg writes that revival trusts challenge laws against perpetual trusts, which limit a trust’s lifespan to 90-100 years in many states. However, some states like Arizona and Florida allow trusts to last for centuries. This flexibility prompts people to consider long-term preservation.

    The uncertain future of trust structures is a concern. Changing laws and businesses pose risks. Estate planners emphasize the need for flexible, succession-oriented trust management.

    LeBel concluded: “I believe the aging process is going to be cured. It’s a disease. The technology isn’t there yet, but I can bridge that time gap with cryonics.”

    Tyler Durden
    Thu, 07/11/2024 – 23:20

  • Colorado Governor Declares Disaster Emergency Over Bird Flu Outbreak
    Colorado Governor Declares Disaster Emergency Over Bird Flu Outbreak

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    Colorado Gov. Jared Polis issued an emergency disaster declaration in his state over an outbreak of highly pathogenic bird flu in northeastern Weld County as officials recently reported that 1.8 million chickens were impacted by the virus.

    Colorado Gov. Jared Polis in Highlands Ranch, Colo., on May 8, 2019. (Michael Ciaglo/Getty Images)

    The governor “verbally” declared a disaster after “an avian flu outbreak in a commercial poultry facility in Weld County,” according to a statement from his office issued on July 8. Mr. Polis’s office did not name the facility that was impacted by the outbreak.

    The declaration means that Colorado can use its emergency powers to “take all necessary and appropriate state actions to assist with response, recovery, and mitigation efforts.”

    In an update issued on July 8, the Colorado Department of Agriculture confirmed that 1.78 million chickens were impacted by highly pathogenic avian influenza.

    The Colorado Department of Public Health and Environment said in a statement on July 3 that a dairy farm worker in northeastern Colorado was infected with the H5N1 bird flu and had direct exposure to cattle infected with the virus. His only symptom was conjunctivitis, colloquially known as pink eye, which was described by the agency as mild.

    “He has recovered. This case is an employee at a dairy farm in northeast Colorado who had direct exposure to dairy cattle infected with avian flu. To protect patient privacy, additional details are not being provided,” the agency said last week in a statement.

    It’s not clear if the infected farm worker had any connection to the infected chickens in Weld County. Officials in the state said that the bird flu risk to Colorado residents remains low, noting that the virus is spreading among animals.

    The virus is “not adapted to spread from person to person,” Rachel Herlihy, state epidemiologist, said in a statement.

    “Right now, the most important thing to know is that people who have regular exposure to infected animals are at increased risk of infection and should take precautions when they have contact with sick animals,” she said.

    People were advised not to touch sick or dead animals. If necessary, people should wear protective gear such as eye protection, gloves, and an N95 respirator mask.

    The H5N1 virus associated with the cases also impacted about two dozen commercial dairy herds in Colorado over the past month or so, according to the U.S. Department of Agriculture (USDA). Colorado had no avian influenza cases throughout 2023, but in 2022, eight commercial poultry flocks were impacted by the virus, according to federal data.

    In 2022, a human H5N1 case in Colorado was detected in someone who was exposed to infected birds, according to officials.

    So far in 2024, three other dairy workers have been infected with the virus, with one case occurring in Texas in April and two in Michigan in May. Two reported conjunctivitis, while one reported having a cough and eye discomfort with a watery discharge, according to federal health officials.

    Michigan Confirms More Cases

    Meanwhile, on July 9, the Michigan Department of Agriculture and Rural Development confirmed that avian influenza has been detected in another dairy herd in Gratiot County, located in the center part of Michigan’s Lower Peninsula. So far, 26 herds have been affected, according to officials.

    Tests conducted at the Michigan State University Veterinary Diagnostic Laboratory detected the case and will send the samples to the USDA for confirmation, according to the agency.

    The state agency recommended that farms not share equipment with other farms so as to mitigate the risk of spreading the virus, among other steps being taken.

    In a statement issued late last month, the U.S. Food and Drug Administration (FDA) said that a new study confirmed that “pasteurization is effective at inactivating” the H5N1 bird flu virus that sometimes can be found in milk or other dairy products.

    The FDA said that its study “found that the most commonly used pasteurization time and temperature requirements were effective at inactivating [the virus].”

    “In each of the total of nine repeated experiments, the virus was completely inactivated,” the agency stated.

    Tyler Durden
    Thu, 07/11/2024 – 23:00

  • Researchers Find Precise Way To Kill Cancer Cells
    Researchers Find Precise Way To Kill Cancer Cells

    Authored by Huey Freeman via The Epoch Times (emphasis ours),

    Cancer treatments that aim to destroy deadly cells often cause damage and pain as they wreak havoc on neighboring cells and tissues. However, scientists have discovered a new method of targeting harmful cells using light for precise destruction, according to a recent study.

    “Usually treatments for cancer use pharmacological induction to kill the cells, but those chemicals tend to diffuse throughout the tissues and it’s hard to contain to a precise location,” said University of Illinois Urbana-Champaign biochemistry professor and study leader Kai Zhang in a press release. “You get a lot of unwanted effects.”

    Cancer cells 3D illustration. (Jezper/Shutterstock)

    The researchers deploy optogenetics, an approach that uses optical systems to control cell functions, to focus a light beam on a target smaller than one cell.

    “That is how we can use light to very precisely target a cell and turn on its death pathway,” Mr. Zhang said in the press release.

    In addition to killing the cancer cell, another intended outcome is to trigger the immune system to respond to the light. Mr. Zhang said that the ruptured cells release cytokines, a type of small protein, attracting white blood cells that help the immune system fight infection. By killing cancer cells, the researchers hope to train T-cell white blood cells to recognize and attack the cancer, Mr. Zhang said.

    The researchers made the cells respond to light by borrowing a light-activated gene from plants and inserting it into intestine cell cultures. They then attached those genes to the genes for a protein, RIPK3, that regulates necroptosis, a form of cell death caused by various stimuli.

    Teak-Jung Oh, a graduate student and the paper’s first author, said the light activation process causes the RIPK3 proteins to cluster together, mimicking the natural death pathway.

    “Understanding the cell signaling pathway for necroptosis is especially important because it has been known to be involved with diseases like neurodegenerative disease and inflammatory bowel disease,” said Mr. Oh. “Knowing how necroptosis affects progression in these diseases is important. And if you don’t know the molecular mechanisms, you don’t really know what to target to slow the progression.”

    The study was published in the July issue of the Journal of Molecular Biology.

    Tyler Durden
    Thu, 07/11/2024 – 22:40

  • Is It Time To Get Bullish On Platinum?
    Is It Time To Get Bullish On Platinum?

    Authored by Mike Maharrey via Money Metals,

    Is now a good time to get bullish on platinum?

    I’ve written a lot about the fact that silver appears to be underpriced given both technical factors and the supply and demand dynamics.

    Platinum may be even more undervalued.

    The current platinum price is hovering around $1,000 an ounce. To put that into perspective, platinum hit an all-time high of $2,213 an ounce in March 2008. This was higher than the record price gold hit in 2011. 

    One of the factors driving that 2008 record was a severe supply shortage due to a power crisis and labor strikes in South Africa, the world’s leading platinum producer.

    Before 2011, platinum was generally more expensive than gold. In 2015, this historical trend reversed with the spread between gold and platinum growing wider.

    But over the last two years, platinum has shown signs of life. In 2023, the platinum price was up a healthy 12.5 percent. So far this year, the metal has charted modest gains of about 3.8 percent.

    Platinum has a long way to go to regain its historic parity with gold, but supply and demand dynamics indicate there is plenty of room for platinum to push higher.

    Like silver, we’re seeing significant supply deficits in the platinum market. In 2023, there was a market deficit of over 100 million ounces, according to the World Platinum Investment Council. This was due to a combination of increasing demand and lagging mine output.

    The supply shortfall continued into the first quarter of 2024. 

    According to the WPIC, total platinum supply in Q1 was the second lowest since the organization started tracking data.

    As a result, the market deficit in Q1 came in at 369,000 ounces.

    Platinum is an important component in automobile catalytic converters. Auto demand for the metal hit a 7-year high in Q1 and that pace is expected to continue through the rest of the year.

    A rotation from electric vehicles to hybrids is boosting demand for platinum in the auto sector, according to the WPIC.

    “Platinum demand is bolstered by stricter emissions legislation, increased hybrid vehicles that contain an internal combustion engine, and growth in the substitution of platinum for palladium. It is important to note that once platinum is substituted for palladium in specific vehicle platforms, this demand for platinum is likely to remain constant throughout the platform’s seven-year lifecycle, even if platinum prices rise to, or exceed, those of palladium for an extended period.”

    Platinum jewelry demand also saw a healthy increase in the first quarter, rising by 5 percent year-on-year, driven by a 53 percent increase in Indian jewelry buying.

    Overall industrial demand fell slightly from a record in 2023 but remained 17 percent above the pre-COVID average.

    Investment demand is also on a positive track upward this year, supported by coin and bar purchases in China.

    According to the WPIC, China’s retail investment in platinum is forecast to exhibit double-digit growth this year, driven by perceptions of the metal being undervalued relative to gold.

    There is also a growing demand for platinum in the fast-growing hydrogen power sector.

    “We are now seeing signs that platinum’s role in the hydrogen economy is gaining momentum, with our forecast for 2024 indicating a significant increase in demand to meaningful levels. This year will also witness the allocation and deployment of over US$300 billion in tax incentives and subsidies from various governments around the world, potentially further accelerating hydrogen’s demand for platinum,” WPIC CEO Trevor Raymond said. 

    Looking ahead, the WPIC projects supply will remain flat even with the weak levels seen last year. Mine supply is expected to fall by about 3 percent offset somewhat by a rebound in recycling. But with demand expected to come in at a “robust” 7.6 million ounces, the WPIC projects a 476,000-ounce market deficit.

    “For the second consecutive year, the platinum market will post a meaningful deficit underscored by platinum’s sustained demand and supply vulnerability amidst global economic challenges. While we currently forecast a deficit of 476 koz, it is worth mentioning that a revision to the bar and coin investment series, based on new field research and information, could mean this deficit is potentially deeper,” Raymond said.

    Above-ground stocks are forecast to decline for the second straight year, falling another 12 percent. This would mark a 4-year low in above-ground platinum supply.

    Meanwhile, China is set to launch its first platinum futures contracts.

    According to the South China Morning Post, the Guangzhou Futures Exchange (GFEX) “will be the first exchange to allow delivery against its contracts of platinum and palladium in a form used by the main consumers, including carmakers and other industrial sectors, and the contracts may also support platinum investment demand in China.” 

    According to the report, investors will be able to take delivery of platinum in both ingots and “sponge” – pure metal in powder form. 

    “The ability to take delivery of sponge could be transformative for industrial users of PGMs, as well as carmakers, as this is the main form typically used for their manufacturing purposes,” the WPIC said.

    According to a WPIC statement, the GFEX futures will allow platinum jewelry and investment product fabricators to hedge price risk. This could reduce premiums and reduce the discount on platinum buyback, making platinum a more attractive investment.

    It remains to be seen whether platinum will regain the price parity with gold we saw before the mid-2010s, but given the supply and demand dynamics, it is reasonable to be bullish on platinum in the near to mid-term. Given the price disparity with gold, this may signal a buying opportunity.  

    Tyler Durden
    Thu, 07/11/2024 – 22:20

  • US Solar And Wind Power Generation Tops Nuclear For First Time
    US Solar And Wind Power Generation Tops Nuclear For First Time

    By Charles Kennedy of OilPrice.com

    For the first time ever, U.S. electricity generation from utility-scale solar and wind exceeded nuclear power plants’ power output in the first half of 2024, according to data from energy think tank Ember quoted by Reuters columnist Gavin Maguire.

    Electricity generation from solar and wind hit a record-high of 401.4 terawatt hours (TWh) between January and June 2024, surpassing the 390.5 TWh of power generated from nuclear power plants, Ember’s data showed.

    Solar power generation jumped by 30% and electricity output from wind power rose by 10% in the first half of 2024, compared to the same period of last year.

    In 2023, nuclear power accounted for 18.6% of U.S. electricity generation, while wind power output had a 10.2% share and solar accounted for 3.9% of total U.S. electricity output, according to data for 2023 from the U.S. Energy Information Administration (EIA).

    Ember has estimated that the share of wind and solar grew to 16% in 2023, when nuclear was still the largest source of low-carbon electricity in the U.S.

    However, expanding renewable energy capacity and record solar and wind power generation helped solar and wind combined to top nuclear as the biggest low-carbon electricity source during the first half of this year.  

    Early in 2024, the EIA said that wind and solar energy would lead growth in U.S. power generation for the next two years.  

    As a result of new solar projects coming on line this year, the administration forecast that U.S. solar power generation will surge by 75%, from 163 billion kilowatt-hours (kWh) in 2023 to 286 billion kWh in 2025. The EIA also expects that wind power generation will grow by 11% from 430 billion kWh in 2023 to 476 billion kWh in 2025.

    In 2023, all renewable sources—wind, solar, hydro, biomass, and geothermal—accounted for 22% of total U.S. power generation.

    Tyler Durden
    Thu, 07/11/2024 – 22:00

  • 7 In 10 People To Live In Urban Areas By 2050
    7 In 10 People To Live In Urban Areas By 2050

    Seven in ten people will live in urban areas by 2050, according to predictions by the UN World Population Division. That’s up from just three in 10 in 1950.

    The following chart, via Statista’s Anna Fleck, looks at a small selection of countries from around the world to highlight some of the patterns expected in the future. Of these, China is expected to see the greatest percent change over the 100 year span, increasing from 11.8 percent of the country living in urban centers in 1950, up to 80 percent in 2050 – a difference of some 68.2 percent. This has partly been driven by its rise of urban manufacturing and service sector jobs.

    Japan, Brazil and the United Kingdom are among the countries expected to have over 90 percent of their populations living in urban areas by 2050. As this chart shows, the UK was highly urbanized fairly early on, largely due to its early industrial revolution and the culture of people living in towns. It’s a similar story for other countries in Northern and Western Europe, which are forecast to have just below the 90 percent of their populations living in urban areas by 2050. In Southern Europe, the forecast is an average of 82.1 percent, while Eastern Europe is expected to be slightly lower at 79.4 percent. Meanwhile, in the United States, 83.7 percent of people are estimated to be living in urban centers in 2025, set to rise to 89.2 percent by 2050.

    Infographic: 7 in 10 People to Live in Urban Areas by 2050 | Statista

    You will find more infographics at Statista

    There are many reasons for urbanization.

    These can broadly be understood as ‘push factors’, which could include being forced to leave a rural area due to natural disasters or agricultural automation and land consolidation leading to fewer rural labor jobs, while ‘pull factors’ may look more like better employment and education opportunities or an interest in a different lifestyle.

    The impacts of a changing climate are allegedly an important factor here too, as some areas will become increasingly uninhabitable such as at the equator or along coastlines. This was highlighted in a recent study, which indicates that some 13 million people could be forced to move in the United States by 2100 due to rising sea levels.

    Urban growth is by no means universal though, with some cities seeing population decline.

    Read more on the topic here.

    Tyler Durden
    Thu, 07/11/2024 – 21:40

  • Microplastics In Bloodstream Increase Stroke Risk 4.5-Fold: Study
    Microplastics In Bloodstream Increase Stroke Risk 4.5-Fold: Study

    Authord by JoJo Novaes and Ben Lam via The Epoch Times (emphasis ours),

    The issue of microplastic pollution in the environment is gaining increasing societal attention. Research indicates that once microplastics enter the human body, they can increase the risk of heart attacks, strokes, or even death. What kind of everyday behaviors raise the risk of ingesting microplastics?

    (SIVStockStudio/Shutterstock)

    Lin Xiaoxu, a U.S. virology expert with a doctorate in microbiology, explained what microplastics and nanoplastics are on New Tang Dynasty TV’s “Health 1+1” program and how to reduce exposure to them.

    Plastic is a crucial product in industrial production and is deeply intertwined with daily life. When plastic products break down, they become microplastics or even smaller nanoplastics. Microplastics are plastic pieces smaller than 5 millimeters, while nanoplastics measure below 1 micron (1,000 nanometers).

    Sources of Microplastics

    Mr. Lin explained that everyday plastic products release microplastics. Synthetic textiles shed fiber fragments, and worn-out tires produce plastic-containing dust. Even seemingly smooth plastic water bottles can shed microplastics during washing.

    In nature, sunlight and ultraviolet radiation continuously degrade plastics into smaller particles. Textiles, hygiene products, bottles, bags, particles emitted from factories, tire dust, fishing nets, and more all contribute to microplastic pollution. Humans and other animals ingest some of these particles, while others accumulate and break down in oceans and soils. Marine organisms like shellfish, small fish, and shrimp, especially those near coastlines, are particularly prone to ingesting microplastics.

    Mr. Lin emphasized that the main sources of microplastics are industrial waste and wastewater discharge, which can cause significant environmental damage if not adequately treated.

    Therefore, before wastewater is released from factories, it must undergo processes like screening, sand removal, sedimentation, biological reactions, chlorination, ultraviolet treatment, membrane technology, etc., to remove over 90 percent of microplastics. However, complete elimination is not achievable. Natural environments may take thousands to tens of thousands of years to fully degrade microplastics.

    Health Hazards of Microplastics

    Microplastics typically enter the body through food and drink ingestion, while nanoplastics can be inhaled. Apart from directly irritating mucous membranes, microplastics can carry environmental microbes like bacteria and viruses into the body.

    “If you ingest something toxic, people usually say to wash it out quickly, but microplastics are very tiny particles that adhere to the surface of the stomach. It’s not guaranteed that washing out will remove them; the body needs to slowly eliminate them, increasing the burden on the body,” Mr. Lin noted.

    Studies have found that after exposure to ultraviolet light and microbial degradation in the natural environment, microplastics become more adsorbent, forming complexes with various environmental pollutants on their surfaces, making them more toxic to organisms.

    Microplastics, which serve as carriers for heavy metals and pathogens, exhibit various toxicities upon entering the body. Most microplastics ingested through food are excreted via feces, but a small portion can remain in the intestines for days, causing intestinal damage, inflammation, and disruption of gut microbiota. Over time, microplastics can be absorbed into intestinal cells and enter the bloodstream, damaging organs and systems throughout the body. Organs like the liver and kidneys and bodily systems such as the immune, reproductive, and nervous systems are particularly affected. Additionally, excessive inhalation of microplastics can cause respiratory tissue damage and disease.

    In March, a study published in the New England Journal of Medicine found that most carotid artery plaques contained microplastics. The study included 257 patients aged 18 to 75 with asymptomatic carotid stenosis. Following plaque removal from the arteries, researchers detected polyethylene in 150 patients (58.4 percent) and polyvinyl chloride in 31 patients (12.1 percent) of removed carotid artery plaques.

    Macrophages within the plaques contained visible foreign particles, some with jagged edges and chlorine content. The study suggested that patients with detected microplastics had over 4.5 times higher risk of heart attacks, strokes, or death compared to those without microplastics.

    Plastics are found all around the world. (iStock/Getty Images Plus)

    US Congress Concerns Over Microplastics

    On Feb. 27, the U.S. Senate Committee on Environment and Public Works held a hearing on microplastics in water.

    Susanne Brander, an associate professor at Oregon State University’s College of Agricultural Sciences who has been researching microplastics and plastic pollution for nearly a decade, pointed out at the hearing that microplastic particles exist in the human heart, placenta, and lung tissues and circulate in blood. Microplastics harm marine and terrestrial organisms, slowing growth, altering behavior patterns, and causing reproductive disorders, particularly adversely affecting mammals.

    She described plastic pollution as one of humanity’s most significant environmental challenges and one of the world’s “most expensive” problems. It causes annual economic losses of $13 billion to fisheries, tourism, and shipping industries. In 2018, health care costs related to plastic-associated chemicals in the United States were estimated at up to $249 billion.

    How to Avoid Ingesting Microplastics

    How can we reduce the intake of microplastics in everyday life? Mr. Lin suggested the following preventive measures:

    • Filter water: Invest in a high-quality water filter capable of removing microplastics. Look for filters with a fine pore size or those specifically designed to filter out microplastics.
    • Avoid plastic containers: Opt for glass or stainless steel water bottles instead of plastic ones. Plastic bottles can shed microplastics, especially when exposed to heat or sunlight. Switch from plastic to glass containers for storing food. Glass does not degrade into microplastics and is safer for food storage.
    • Be cautious with food packaging: Choose fresh, unwrapped produce over prepackaged items. When buying packaged goods, select those in glass or cardboard rather than plastic.
    • Minimize processed food consumption: Processed foods often come in plastic packaging and can contain higher levels of microplastics. Cooking at home using fresh ingredients reduces exposure.
    • Avoid single-use plastics: Reduce the use of single-use plastics such as plastic cutlery, straws, and bags. These items contribute to pollution and degrade into microplastics over time.
    • Use natural fabrics: Synthetic fibers from clothing can shed microplastics during washing. Choose natural fabrics like cotton, wool, and silk, and use a laundry bag designed to capture microfibers.
    • Wash hands frequently: Wash hands often, especially after using gloves, as plastic residues inside gloves can transfer to hands.
    • Scrutinize cosmetics: Avoid cosmetics containing microplastics, such as microbeads in scrub creams and glitter in makeup products. Look for natural alternatives instead.

    Tyler Durden
    Thu, 07/11/2024 – 21:20

  • La Nina Watch Remains In Effect As Development Odds High For Northern Hemisphere Winter
    La Nina Watch Remains In Effect As Development Odds High For Northern Hemisphere Winter

    Scientists from the National Oceanic and Atmospheric Administration (NOAA) issued an update Thursday stating that there is a 70% chance La Niña will develop between August and October and a 79% chance between November and January.

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    In the first half of the year, waters across the eastern Pacific have rapidly cooled, signaling the end of a strong El Niño. Surface waters across the eastern Pacific have bottomed in recent months. If cooler ocean waters are seen in the months ahead, a stronger La Niña could emerge, producing a more active hurricane season.

    The latest reading shows water temperatures in June were just 0.16 °C (0.3 °F) above the long-term average. 

    NOAA’s computer model, including the North American Multi-Model Ensemble, forecasts a “moderate” La Niña later this year. 

    NOAA’s historical winter precipitation data forecasts warmer- and drier-than-average conditions across the southern part of the US, colder-than-average conditions across the north-central Plains, and wetter-than-average conditions in the Ohio Valley and Pacific Northwest/northern California.

    Government scientist pointed out, “Also keep in mind that there’s about a 1-in-5 chance that La Niña won’t show up, and neutral conditions will last through the winter.”

    Let’s remind readers that NOAA has previously stated, “El Niño and La Niña are naturally occurring climate patterns and humans have no direct ability to influence their onset, intensity, or duration.” 

    Avoid far-left corporate media outlets that inject climate politics into nearly every weather headline and story they get a hold of to further their radical progressive agenda that’s not rooted in reality. Folks are realizing the leftist media is as clueless as Biden. 

    Tyler Durden
    Thu, 07/11/2024 – 21:00

  • Aramco Secures $31 Billion In Orders For Bond Offering
    Aramco Secures $31 Billion In Orders For Bond Offering

    By Irina Slav of OilPrice.com

    Saudi Aramco has attracted orders worth a total $31 billion for a fresh bond the company said it would place on international markets. The size of the bond was $6 billion.

    In its first debt offering in three years, the Saudi energy giant offered 10- and 30-year notes, with offers for both topping $11 billion, Bloomberg reported, citing an unnamed source familiar with the deal. The company also offered investors a 40-year note in the tranche.

    Initially, plans were to offer some 140 basis points over U.S. Treasuries for the 10-year bond, 180 basis points over UST for the 30-year bond, and 195 basis points for the 40-year note. However, thanks to strong investor interest, the spreads were tightened to 105 basis points for the 10-year note, 145 basis points for the 30-year note, and 155 basis points for the 40-year note.

    According to early reports about the bond offering, the proceeds would go towards refinancing existing debt and helping the investment program of the world’s largest oil company by market value and production.

    “Aramco is extending maturities as it will continue to gradually leverage up given their expansion plans and capex needs,” the managing director of fixed income advisory at Union Bancaire Privee told Bloomberg.

    Aramco is a major source of income for the Saudi government that has large-scale plans for the diversification of the Saudi economy. The Saudi government holds 81.5% directly in Aramco with another 16% held by the kingdom’s sovereign wealth fund—the Public Investment Fund. Per Reuters, Aramco plans to pay some $124.3 billion in dividends this year.

    A month before the bond announcement, Aramco said it would also offer more stock to investors. The offering, priced at a discount, raised over $12.3 billion for the Saudi company. The initial proceeds came in at $11.2 billion, but the offering had an over-allotment option that kicked in, bringing the total to $12.35 billion.

    Tyler Durden
    Thu, 07/11/2024 – 20:40

  • Lawsuit Alleges Hyundai Conducted "Secret Program" With Dealers To "Inflate" EV Sales
    Lawsuit Alleges Hyundai Conducted “Secret Program” With Dealers To “Inflate” EV Sales

    Napleton Aurora Imports in Illinois recently filed a lawsuit in federal court in Chicago, alleging that Hyundai pressured US auto dealers to “artificially inflate its publicly reported sales” of electric vehicles, creating a “false narrative” for consumers.

    The suit, Napleton Aurora Imports Inc et al v. Hyundai Motor America Corp, claims Hyundai instructed some dealers to “falsely report unsold vehicles as ‘sold’ to a retail customer or placed into loaner service, only to reverse the ‘sale’ the following month.”

    The suit, filed by Napleton Aurora Imports Inc. and other Hyundai franchises, detailed how there was an audio recording “demonstrating the existence of this scheme” with a dealer and district sales manager:

    “We gotta hit a number for the press and for the Koreans.”

    The suit alleges that Hyundai would reward dealers with “unlawful” perks, price discounts, and allocations of popular models in exchange for faking the sales numbers for EV cars. 

    Boosting fake EV sales allowed Hyundai to pump out a “press release touting its increased year-over-year sales and its growth in the electric vehicle (EV) sector.” 

    “Dealers who refuse to help HMA boost its fake numbers—like Napleton—are punished with allocations of slow selling vehicles, and denied wholesale price discounts, allocation, and retail price discounts to offer consumers, stifling competition and harming both Napleton and the public,” the suit said. 

    It seems like a classic case of “fake it till you make it.” This intriguing lawsuit raises the possibility that the demand for EVs reported in the corporate media might be inflated.

    Tyler Durden
    Thu, 07/11/2024 – 20:20

  • Freedom Caucus Chair Responds To Anonymous 'A**hole' Allegations
    Freedom Caucus Chair Responds To Anonymous ‘A**hole’ Allegations

    Authored by Molly Burns via Headline USA,

    Rep. Bob Good, R-Va., brushed off the anonymous allegations from Capitol Hill insiders that his recent primary defeat by a razor-thin margin was the result of an abrasive personal demeanor.

    In a statement to Headline USA through his communications director, Marjorie Jackson, Good said the halls of Congress were no place for sugar-coating the work that needed to be done in order for lawmakers to do right by their constituents.

    “I believe we should do what we tell people we are going to do when we ask them to vote for us and trust us with the majority,” Good said in the statement.

    “With $35 trillion in debt, a border invasion, and an unprecedented assault on our constitutional freedoms, we cannot afford to wait till the next election to fight for the American people,” he added. “We should use every tool available to reverse the harm caused by the Democrat policies that are destroying our country and causing so much suffering.”

    Despite having one of the most conservative voting records in all of Congress, Good—the current chair of the House Freedom Caucus— lost his primary election in Virginia’s 5th District by 0.6% of the vote to state Sen. John McGuire.

    The contentious primary race made national headlines after Good and presumptive presidential nominee Donald Trump each backed the other’s primary opponent—a significant departure from the days when Trump drew some of his staunchest support from Freedom Caucus members (even selecting two chiefs of staff, former Reps. Mick Mulvaney and Mark Meadows, from its ranks).

    Good declined to endorse Trump until Florida Gov. Ron DeSantis—another Freedom Caucus alumnus—dropped out of the race in January. Consequently, he became the object of Trump’s ire.

    Good also invited attacks from loyalists to ousted House Speaker Kevin McCarthy, R-Calif., after he was one of the “Gaetz Eight” who voted with Democrats to invoke the motion to vacate the speakership.

    “I didn’t come to Washington to make friends, and some of my colleagues are angry with me because they have to answer for their bad votes when they go back home,” Good said in his statement to Headline USA. “If they can’t defend these votes, they should vote differently.”

    Good, however, ultimately reaped the political consequences of his tough decisions, including the dubious achievement of uniting both Trump’s America First populist supporters and the D.C. insiders of the McCarthy-linked Republican Main Street Partnership against his campaign.

    Rep Marjorie Taylor Greene, R-Ga., a well-known ally of both Trump and McCarthy, made several withering statements against Good, going as far as to call him “toxic” to Trump’s reelection efforts.

    Speaking anonymously to the Daily Caller on Monday, some Capitol insiders took it to an even more personal level.

    “He’s an a**hole” said one individual.

    A Republican member of Congress elaborated: “He’s perhaps the most unlikable guy in Congress, and that’s saying a lot with the likes of some others who are major-league a**holes. I don’t think there is anyone in Congress, conservative or not, who would pee on Bob Good if he was on fire.”

    A GOP ad-maker accused him of getting “out-hustled” by McGuire on the campaign trail.

    “Bob Good decided to spend his time in Washington making enemies out of literally everyone he met,” the source said. “He wasn’t being a principled conservative; he was being an unnecessary jerk.”

    The aftermath of the primary battle, with its razor-thin finish in an unpredictable district that encompasses both ultra-liberal Charlottesville and the Jerry Falwell-influenced Lynchburg, has brought little closure to the wounds that were openened during the course of the campaign.

    According to Good, three of the voting precincts mysteriously caught fire on Election Day.

    He also signaled his intention to move forward with a recount, even though 374-vote gap in the final tally fell outside the 0.5% threshold for the state to cover it—meaning Good must foot the bill himself.

    “In a race with nearly 63,000 votes that is separated by a 0.6% margin, Republican voters across the 5th District deserve to know that all legal votes have been accurately counted,” Good’s campaign manager, Diana Shores, told the Daily Caller. “We will vigorously pursue that objective over the coming days and weeks, as permitted by Virginia law.”

    Good—who took over from Rep. Scott Perry, R-Pa., as the fifth chair of the Freedom Caucus at the start of the current session—may not finish his term in the leadership role. Politico reported indicated that fellow caucus members were privately discussing his replacement following the presumptive primary defeat.

    Headline USA’s Ben Sellers contributed to this report.

    Tyler Durden
    Thu, 07/11/2024 – 20:00

  • Biden Resumes Transfer Of 500-Pound Bombs To Israel As Fight Returns To Gaza City
    Biden Resumes Transfer Of 500-Pound Bombs To Israel As Fight Returns To Gaza City

    The Biden administration’s punitive ‘pause’ of arms transfers for certain types of munitions to Israel, namely 500-pound and 2,000-pound bombs, didn’t last very long. As many predicted from the start, it was a mere slap of the wrist ploy for PR purposes to take some pressure off from both European allies abroad and Progressive Democrats at home in the US. 

    “The U.S. will soon begin shipping to Israel the 500-pound bombs that the Biden administration had previously suspended, ending a two-month pause it had imposed in a bid to reduce civilian casualties in Gaza, U.S. officials said,” according to fresh Wall Street Journal reporting.

    The bombs are expected to arrive in Israel in a matter of weeks, and “are in the process of being shipped,” the report adds. The 2,000-pound bombs Israel also previously had access to are reportedly still on hold, however, and will not be transferred by Washington.

    The paused shipment had been withheld two months ago as Israeli ground forces went into the southern city of Rafah, resulting in the displacement of some one million civilians; however, despite calling the Rafah offensive a “red line” – the White House has kept supplying Israel with a variety of other weapons systems.

    “Our main concern had been and remains the potential use of 2,000-pound bombs in Rafah and elsewhere in Gaza,” a US official has confirmed. “Because our concern was not about the 500-pound bombs, those are moving forward as part of the usual process.”

    Meanwhile, fighting has returned to Gaza City in the north of the Strip, which had been pacified in the opening months of the conflict.

    Israel’s military (IDF) has once again ordered all residents of Gaza City to immediately evacuate to the central part of the Gaza Strip amid heightened operations in the north, where militants have returned. BBC details:

    Leaflets dropped by aircraft instruct “everyone in Gaza City” to leave what is described as a “dangerous combat zone” via designated safe routes – marked as two roads that lead to shelters in Deir al-Balah and al-Zawaida.

    All of these developments are likely to again intensify internal Democratic infighting in the US. Coupled with speculations over his health and fitness for another term, Biden also faces severe criticism over his handling of Gaza.

    Ironically some of these same Progressives have at once accused Biden of enabling genocide while simultaneously urging that he should stay in the race and take the White House for another term…

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    Rep. Alexandria Ocasio-Cortez at the start of this week came out in support of Biden staying in amid an avalanche of calls for him to step aside following his disastrous debate performance.

    “I have spoken to the president over the weekend. I have spoken with him extensively,” Ocasio-Cortez told reporters Monday night. “He made clear then — and he has made clear since — that he is in this race.” She emphasized, “The matter is closed.” Likely she’ll remain quiet on his Gaza policies moving forward as well.

    Tyler Durden
    Thu, 07/11/2024 – 19:40

  • FBI Identified 'Person Of Interest' In Capitol Pipe Bomb Case By Jan. 10, 2021
    FBI Identified ‘Person Of Interest’ In Capitol Pipe Bomb Case By Jan. 10, 2021

    Authored by Ken Silva via Headline USA,

    The FBI released a new batch of records about its Capitol Hill uprising investigation on Monday, revealing that investigators identified a “person of interest” in its Jan. 5/6 pipe bombs investigation within days of the incident.

    Jan. 6 suspected pipe bomber / IMAGE: RevolverNews via Rumble

    The record about the FBI’s person of interest is a Jan. 10, 2021, report that summarized the bureau’s J6 investigation up to that point. The extremely faded report is difficult to read, but it appears to state: “FBI WF and USCP have identified a person of interest who may be a match to the description of the individual placing the bombs, and continue efforts to identify through surveillance footage.”

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    The FBI declined to comment in response to Headline USA’s questions about what happened to the person of interest, including whether the person was cleared or is still under investigation.

    “We don’t have any comment on the documents.  The pipe bomb investigation remains ongoing,” an FBI spokesperson told this outlet.

    The FBI has been extremely tight-lipped on its pipe bomb investigation, and most of the revealtions have come via congressional investigations or other agencies, such as the Bureau of Alcohol, Tobacco, Firearms and Explosives.

    Last July, for instance, Rep. Thomas Massie, R-Ky., played a video showing a passerby “miraculously” finding a pipe bomb outside of the DNC headquarters on Jan. 6, 2021.

    Massie’s revelation followed an interview he and other House Judiciary Committee members conducted with former FBI official Steven D’Antuono, who oversaw the bureau’s pipe bomb investigation until he retired last November. In that interview, D’Antuono disclosed that some of the cell phone evidence from the FBI’s pipe bomb investigation was “corrupted.”

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    More recently, congressional investigators revealed that the “passerby” pegged by Massie was, in fact, a plainclothes Capitol Police officer.

    The latest major development came in March, when the Justice Department released ATF records showing that CIA explosives technicians were part of the response to the pipe bombs placed outside the RNC and DNC headquarters.

    Still, the FBI is staying silent on the matter.

    “It was 900 days ago when this happened, and you said you had total confidence that you’d apprehend the subject,” Massie said a year ago, to no avail. “It’s 900 days. You need to tell us what you found.”

    Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

    Tyler Durden
    Thu, 07/11/2024 – 19:20

  • China Has Been Practicing For Strikes On US Jets & Warships In Remote Desert Region
    China Has Been Practicing For Strikes On US Jets & Warships In Remote Desert Region

    Recently emerged satellite images reveal that the Chinese military has been practicing for attacks on US fighter jets and aircraft carriers in the remote deserts of Xinjiang in northwest China.

    South China Morning Post (SCMP) in a fresh report analyzing the photographs identifies that the images were taken by Google Earth on May 29 and show mock-ups of jets resembling advanced US stealth fighters.

    Replica US stealth fighters in remote Chinese desert, X/@clashreport

    SCMP highlights a post by the Turkey-based Clash Report which was the first to highlight the photos with a caption: “Chinese PLA Air Force pilots are learning to practice air strikes on American F-35 and F-22 mock-ups.”

    A likely location within Xingjiang region has been Qakilik (or Ruoqiang County) in the Taklamakan Desert, but this has neither been acknowledged by the Chinese government nor confirmed by any official source.

    A number of the mock-up stealth fighters appeared to have suffered damage, likely by PLA aerial bombing runs, with blackened craters in a runway at the fictional airbase.

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    A separate report in Business Insider appears to show separate satellite images, obtained on a different date, of the same location in the desert. The images, captured in late April by Planet Labs PBC, similarly show around 20 aircraft near a runway.

    Among the planes that resembles US stealth fighters, there also appears to be a P-8A Poseidon and the U-2 reconnaissance plane.

    Planet Labs was also able to capture an apparent US Arleigh Burke class destroyer mock-up in the Taklamakan Desert earlier this year.

    One analyst highlighted in comments made to the publication that the mock-ups likely are not just for target practice, but for honing radar and weapons-guidance software and sensitive technology.

    The expert described that “these mock-ups potentially allowed China to refine seekers with image-recognition capabilities and help it develop the ability to accurately target particular ships or even specific parts of ships where a missile could do the most damage.”

    Source: Planet Labs

    Tyler Durden
    Thu, 07/11/2024 – 19:00

  • Top New York City Law Firm To Deny Employment Over Pro-Palestine Protests
    Top New York City Law Firm To Deny Employment Over Pro-Palestine Protests

    Via Middle East Eye

    Participation in Gaza solidarity protests and student groups could become a disqualifying factor for applicants at a prominent Wall Street law firm, The New York Times reported on Tuesday.

    The 145-year-old law firm, Sullivan & Cromwell, which employs close to 900 lawyers and has had Amazon and Goldman Sachs among its clients, has hired the background check company HireRight to assess an applicant’s participation record in pro-Palestinian protests and student groups.

    Image: The New York Stock Exchange

    HireRight will scour a candidate’s social media profiles alongside news reports and footage from protests. Applicants will also be asked to list student groups they have joined. 

    Based on the materials found, the firm has the right to refuse employment. Using a private background check company to ensure compliance with existing workplace prohibitions on hate speech is not an uncommon practice in the US, only a handful of restrictions are in place to prevent discrimination.

    The case of Sullivan & Cromwell, however, sets a new precedent, since it is the mere involvement in a protest that is enough to hold an applicant accountable, even if no problematic language was used by the candidate itself. 

    Under the firm’s new policy, it is enough if the slogan, “From the River to the Sea, Palestine will be Free”, was chanted at a protest that the applicant attended. 

    Sullivan & Cromwell did not reportedly disclose whether the firm has already dropped candidates because of the policy.

    Consequences

    After the background check is performed, and material that Sullivan & Cromwell considers to be objectionable is found, the candidate will be asked to explain their role in the protest, including what efforts the candidate engaged in to prevent others from making offensive or harassing statements, a New York Times article published on Tuesday says.

    No other law firm on Wall Street has publicly discussed a similar policy toward protesters, but several have considered adopting similar rules.

    “Disqualifying people based on what someone else nearby may have been doing seems to characterize all protesters as having a single mindset,” Roderick A Ferguson, a Yale professor of American studies, told The New York Times. “Such thinking can mimic racist thinking, sexist thinking, homophobic thinking, that one instance becomes a character of all.”

    Over the last couple of months, several reports have emerged of employees losing their jobs, or job offers being rescinded over their actions or statements regarding the war in Gaza. Faculty members at various colleges across the US have been fired, suspended or removed from the classroom for speech expressing solidarity with Palestine. 

    Last October, The Washington Post reported an incident in which a New York University law student was faced with a job offer being rescinded due to a letter she wrote to the Bar Association saying that Israel bears responsibility for the war in Gaza. 

    Tyler Durden
    Thu, 07/11/2024 – 18:40

  • Biden Praises 'Vice President Trump' During Rambling Post-NATO Presser
    Biden Praises ‘Vice President Trump’ During Rambling Post-NATO Presser

    Update (2032ET): That was rough. After introducing Ukrainian President Volodymyr Zelensky as Vladimir Putin – then arriving to his own press conference more than 50 minutes late, a coughing, slurring Joe Biden then called Donald Trump his Vice President as he attempted to show the world what a ‘goodest boy’ can do.

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    Biden then slurred his way through an answer on whether he thinks he should take another neurological exam.

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    Biden then blamed his staff for his horrendous debate performance last month, telling the audience that he’s “catching hell from my wife.”

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    Apparently Biden follows the advice of his “commander-in-chief” – whoever that is…

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    He even treated us to his creepy whisper voice that must give daughter Ashley some serious flashbacks.

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    But wait, there’s more!

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    Many considered tonight’s performance a referendum on what direction the Democratic party will take in terms of support. Looks like they’re between a rock and a hard place, as Biden’s PredictIt odds dipped and then recovered during the rambling speech – except, ‘Vice President Trump’ is now gaining ground.

    *  *  *

    Cheat-sheet in hand, we are sure; President Biden steps forward tonight for perhaps his final (and most important) press conference ever as he attempts to clam the masses about his ‘one off’ events at the debate and with Stephanopoulos (and the numerous times before that were all ‘cheap fakes’, remember).

    Since George Clooney admitted he saw the emperor with no clothes on, Biden’s odds of getting the nomination have plummeted back to post-debate lows and Kamala is rising from her knees…

    So grab your popcorn and get ready for fireworks – there is no way Americans are going to stand for an hour long press conference that is 100% rigged with pre-selected questions that do not test the President in his current state (which makes us wonder, who on his ‘team’ thought it a good idea to schedule this presser for 630pm!!!)

    And now he’s lost late-night TV ‘comics’ too…

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    Bear in mind that the last time he was forced to do a solo presser, was right after the release of Robert Hur’s report wherein Joe was deemed unfit to stand trial due to being an “elderly man with a poor memory.”

    As @WesternLensman noted on X:

    When asked if he was too old for the job, Joe said: “That is not the judgment of the press.”

    That didn’t age well.

    Also in that PC, Joe claimed he was the best person to be president in the US and that his memory was fine —  just before confusing the presidents of Egypt and Mexico.

    At the time, this was viewed as a fairly hostile press asking some tough questions.

    It will pale in comparison to what we’ll see tonight.

    The long knives are unsheathed.

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    Yes we know it’s Thursday evening… yes, we know everyone is trying to dry out a little after July 4th celebrations… but this is too good an opportunity.

    Drink every time President Biden says any of the following:

    • Liar

    • Clooney

    • Elites

    • Jan 6

    • Golf Handicap

    • Malarkey

    • Jill, Hunter, or Beau (double for Beau)

    • Democracy

    • Felon

    • Inflation

    And down the whole bottle if Biden ‘glitches’ for more than 5 seconds flat… because that means it really is all over for ‘ol Joe, and Kamala is the gal!

    Finally, just minutes before this press conference, Biden introduced Zelensky… as Putin!!

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    Watch the press conference live here (due to start at 1830ET)

    * * *

    Despite President Biden and his team attempting a major, multi-faceted counter-offensive aimed at silencing demands for him to call off his re-election bid, the push to bounce Biden off the ticket has only grown stronger — with major new developments in the Senate and elsewhere fostering a growing sense that the 81-year-old’s campaign is in its final days. 

    Today could bring the coup de grâce, when Biden hosts a rare, solo press conference at 5:30 pm ET. UPDATE: The press conference has been moved to 6:30 ET. That’s well outside the ideal 10am-to-4pm window in which administration sources say he’s best able to function — and it will be held on the South Grounds of the White House, with a forecast temperature of 91 degrees. As if that weren’t enough to stack the deck against him, the presser will come after Biden has spent a full day in NATO summit meetings, including a session with Ukrainian President Volodymyr Zelensky. 

    On top of all that, Biden will face a press corps that’s been re-programmed to accelerate the ongoing establishment coup that’s seen as the last means of beating Trump in November. As we noted in our press-conference preview:

    “With Biden on a precipice, Thursday’s press conference could be a contest among reporters striving to cement their place in history by being the one to give Biden the decisive shove over the cliff.” 

    Biden’s been caught using cheat sheets telling which reporters to call on and what question they’ll ask — that may not fly today (AFP via Getty Images and New York Post)

    Biden’s 2024 campaign slid closer to that edge on Wednesday, as Vermont’s Peter Welch became the first Democratic senator to publicly call for Biden to exit the race, pointedly saying “We cannot unsee President Biden’s disastrous debate performance. We cannot ignore or dismiss the valid questions raised since that night…I deliver this assessment with sadness.”

    His call came on the same day that the number of House reps issuing similar pleas to Biden grew to nine, with Oregon’s Earl Blumenauer saying Biden “should not be the nominee.” Also, New York Lt. Gov. Antonio Delgado joined the chorus, in a move that reportedly made Gov. Kathy Hochul “furious.” 

    Of potentially greater Senate significance than Welch’s announcement, Democratic Majority Leader Chuck Schumer has reportedly been entertaining avenues by which Biden could be replaced. “Schumer is privately signaling to donors that he’s open to a Democratic presidential ticket that isn’t led by President Biden,” Axios reported. According to three unnamed sources, he has been listening to “donors’ ideas and suggestions about the best way forward.” Schumer responded to the report by merely reiterating that he “support[s]” Biden.” 

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    In an attempt to shore up Biden’s weakening Senate wall, three of Biden’s top political advisors will meet with Democratic senators at lunch today to give an audience to their concerns. Reflecting the increasingly sour mood among upper-chamber Democrats, Punchbowl News reporter Andrew Desiderio says one of those senators spontaneously told him the meeting will be “a waste of everyone’s time if Biden can’t even come make the case himself.”

    In addition to the Senate, there’s new action on another anti-Biden front, as dozens of Democratic Party delegates are organizing a letter to the DNC seeking nominating-convention rule changes that would make their votes secret and allow delegates to vote their conscience — rather than being bound to vote for the winners of their state primaries and caucuses.

    In a defensive move, members of Biden’s campaign team have been calling individual delegates to assess their loyalty to the president, Politico reports. The aides are asking question like, “Do you understand what being a pledged delegate means?” and “Do you have any potential disagreements with the president?”

    Wednesday also brought a major-headline broadside from Hollywood, as actor and Biden rainmaker George Clooney published a New York Times op-ed declaring that the Biden he saw at last month’s big Los Angeles fundraiser is a shell of his former self:

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    Further fueling the Democrats’ sense of all-out crisis, donors large and small are making good on their promises to withhold donations so long as Biden is atop the ticket. Donations to the Biden-Harris campaign have gone into an absolute free-fall, and NBC News served up a variety of doom-and-gloom quotes from various sources “close to” the campaign’s fundraising efforts: 

    • “It’s already disastrous.”
    • “The money has absolutely shut off.”
    • “Donors are negative. They had a call with the president. The call seemed so contrived to people…I don’t think they buy it.” 

    There’s been a growing comedic edge to Democrats’ public remarks this week. On Monday, Biden sent Congressional Democrats a two-page letter unequivocally declaring that, after having “extensive conversations…over 10 days” with Democratic party officials, legislators and voters, he is determined to stay in the race to Nov. 5. Pretending they didn’t read that — or hear Biden’s declaration that it would take a directive from “the Lord Almighty” for him to opt out, prominent Democrats continue talking about Biden’s decision in the future tense. Case in point: Nancy Pelosi’s Wednesday-morning appearance on MSNBC:  

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    The phenomenon has made for laughs across social media…

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    While everyone else is laughing, the pressure from the Biden crisis is clearly getting to Nancy:

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    …while even the long-serving Biden apologists at leftist outlets at CNN are increasingly contemptuous of the Baghdad Bob lines emanating from the White House: 

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    It can’t be long now…

    Tyler Durden
    Thu, 07/11/2024 – 18:20

  • Sam Altman-Backed Nuclear Startup Oklo On Pace To Launch First Reactor By 2027
    Sam Altman-Backed Nuclear Startup Oklo On Pace To Launch First Reactor By 2027

    Sam Altman-backed nuclear company Oklo is “push[ing] towards its target of building its first small modular reactor by 2027 at the Idaho National Laboratory,” according to a new report from Reuters. 

    The company – which we have highlighted as the potential solution to the extreme forthcoming demands in energy as a result of artificial intelligence – makes nuclear power plants, ranging from 15 MWe to 50 MWe, utilizing liquid metal reactor technology.

    And while licensing and fuel supply are still bottlenecks, according to the report, the company has “been selected by the Department of Energy for four cost-share awards to potentially commercialize advanced recycling technologies” and has “secured a site use permit from the DOE and a fuel award from INL,” Reuters reports.

    Oklo co-founder and CEO Jacob DeWitte commented: “We’ve tried to design and approach this whole thing in a way that we can get it built as soon as reasonably possible.”

    DeWitte added: “We’re excited about the diversity of customers, because it shows that our size and business model clearly match with what customers are interested in.”

    “They’re not starting overnight with a facility that’s using that much power, but they typically build into that, and they want to have that n+1 or n+2 dynamic build up with them,” he added.

    “You can’t really do that if you’re building a 300 MW reactor, but you can do that with what we’re doing and that adds a lot of value.”

    Oklo’s ‘Aurora powerhouse’ reactor will cost around $70 million for the 15 MW version, with an LCOE of $80-$130/MWh, similar to peaking gas-fired plants and offshore wind, per Lazard analysis.

    The Reuters report notes that Oklo has signed an agreement with the Southern Ohio Diversification Initiative for its second and third commercial plants at the DOE Piketon Site and has interest in building over 50 reactors with a total capacity exceeding 700 MWe.

    In May, Oklo partnered with Atomic Alchemy to produce medical isotopes from its recycling process for cancer treatment and diagnostic imaging. It also signed an LOI with Wyoming Hyperscale for a 20-year PPA to supply 100 MW to its data center campus.

    In April, Oklo signed an LOI for a 20-year PPA with Diamondback Energy to power its shale-oil operations in the Permian Basin.

    Oklo is preparing a pre-application readiness assessment for its reactor with the Nuclear Regulatory Commission (NRC). In 2022, the NRC denied Oklo’s application for a combined construction and operation license (COLA), the first for an advanced non-light water reactor. DeWitte notes this pre-assessment is a “dress rehearsal” for their application, expressing optimism despite previous delays caused by the pandemic.

    The federal ADVANCE Act, passed in June, aims to speed up licensing, mobilize the fuel supply chain, and benefit Oklo by reducing fees, shortening timelines, and offering incentives.

    We noted about a month ago that the company had signed a deal to power data center Wyoming Hyperscale. 

    As we wrote back in May, Oklo won shareholder approval on May 8 for its NYSE listing. The company’s mission is “to provide clean, reliable, affordable energy on a global scale through the design and deployment of next-generation fast reactor technology”.

    Backed by investors like Jeff Bezos, Bill Gates, and Peter Thiel, the who’s who of the AI revolution, nuclear fusion startups are gaining traction. Sam Altman, who invested in Oklo in 2015, believes the company is “best positioned to commercialize advanced fission energy solutions,” per a July press release.

    For those who missed it, in “The Next AI Trade,” we outlined various investment opportunities for powering up America, most of which have dramatically outperformed the market. In the next iteration, we will likely add Oklo to the list of beneficiaries certainly ahead of the inevitable cascade of Buy ratings sure flood the name over the next month.

    Tyler Durden
    Thu, 07/11/2024 – 18:00

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