Today’s News 1st November 2023

  • Polish Trucks Threaten To Block Border-Crossings With Ukraine
    Polish Trucks Threaten To Block Border-Crossings With Ukraine

    Via Remix News,

    Polish truckers believe that relaxed regulations towards non-EU registered HGVs have given Ukrainian companies the edge over Poles…

    Polish truckers are threatening to block all border crossings with Ukraine starting in November due to excessive competition after the liberalization of international transport between Ukraine and the European Union.

    From November, Polish truckers will initiate protests and blockades at the Ukrainian border crossings in a move that threatens to disrupt border traffic potentially until the end of the year.

    The announcement was made on social media by “Ukravtoprom,” the Association of Motor Vehicle Producers of Ukraine, citing the International Transport Association of Ukraine.

    “The protest action is planned for a period of two months. The reason for the protests is the excessive competition after the liberalization of international transport between Ukraine and EU countries,” the message read.

    Polish truckers argue that relaxed regulations towards non-EU registered HGVs have given Ukrainian companies the edge over Poles, experts from the International Transport Association of Ukraine revealed.

    Read more here…

    Tyler Durden
    Wed, 11/01/2023 – 02:00

  • The Writing’s On The Great Wall For A China Crash
    The Writing’s On The Great Wall For A China Crash

    Authored by James Gorrie via The Epoch Times (emphasis ours),

    As the saying goes, if you want to know what’s really going on, follow the money. That catchphrase doesn’t just apply to foreign companies and investors backing out of China. It also applies to the Chinese economy.

    A view of a complex of unfinished apartment buildings in Xinzheng city, in China’s central Henan Province, on June 20, 2023. (Pedro Pardo/AFP via Getty Images)

    A No-Confidence Vote

    In the midst of widespread economic duress and growing social disruption, following the money trail shows how Chinese investors are voting with their wallets.

    Consumer spending is down, and the savings rate is up.

    Capital is flowing out of China any way it can, and it all amounts to a definite no-confidence vote for Xi Jinping and the Chinese Communist Party (CCP).

    The CCP Tries to Hide the Facts

    In true CCP fashion, the state puts the blame for its failed policies on those who point them out. Anyone who mentions the crumbling economy, for example, is guilty of creating “financial stability.” Even though the CCP would consider prosecuting journalists and economists who report accurately about the falling employment numbers and the high debt levels that plague local governments, China’s worsening economic conditions are too dramatic and widespread to hide.

    Of course, financial stability isn’t threatened by people talking about it. It’s the CCP that’s destroying the economy. Even recent history shows that the less involved the Party is in the economy, the better it performs.

    The property market and the development sector are perfect examples, though not the only ones. Both continue to be heavily manipulated by the CCP, and both are hemorrhaging value, as financial ruin in flagship companies such as Evergrande and Country Garden contribute to deteriorating conditions in the wider economy. Completed projects that remain unsold are being demolished, work on existing projects is being halted, and other development plans are being canceled, even as the development companies owe billions to creditors.

    More Than a Cyclical Downturn

    The reality of what’s happening is starting to dawn on the Chinese. Many understand that the current trend is much more than a cyclical downturn, which is typical of capitalist economies. Growth in the second quarter of 2023 was reported to be only 0.8 percent. Still, that statistic is hardly trustworthy in a country that runs on graft and political favors and routinely fudges the numbers. The reported third-quarter gain of 4.9 percent is touted but not believable, given the real estate collapse, falling consumer spending, and lower exports.

    Going forward, as the CCP takes more control, a stagnant economy may be the best-case scenario. Jobs in property development, related industries, and manufacturing sectors are all struggling as foreign companies leave China’s shores.

    A woman walks past stores in a shopping mall in Beijing on July 18, 2023. (Greg Baker/AFP via Getty Images)

    A Stagnating Middle Class

    Meanwhile, individual investors, mostly from the middle class—who put their life savings into properties that aren’t even built and likely won’t ever be built—are seeing their wealth evaporate before their eyes as valuations crater.

    This stagnation is primarily due to two factors: internal policies and external ones. Internally, an economy based on graft and corruption rather than one based on market signals—such as the price mechanism that allocates resources and assets where they’re most needed in the economy—can’t sustain itself. Thus, turning profitable private enterprises into debt-ridden state-owned enterprises, which is a euphemism for confiscation by the CCP, has destroyed entrepreneurship—the economic engine of China.

    Add to that the CCP’s fundamental shift from economic growth to internal security and stability. It’s a vicious cycle wherein more Party control results in less economic activity, financial duress, and civil discontent. The Party then doubles down on more state control and more oppression.

    In short, the Party is more concerned with maintaining its grip on power than it is with growing the economy or supporting the middle class.

    Companies Are Fleeing ‘Uninvestible’ China

    But there are external factors, or consequences, as well.

    Over the past year, the flight of Western manufacturers out of China has accelerated. American and European firms are seeing the writing on the wall. They see the world’s growing disenchantment with Beijing’s trade and foreign policies, with many anticipating a decline in economic stability and a greater degree of decoupling from China in the foreseeable future. As a result, they’re relocating their operations out of China to friendlier nations.

    ‘Friendshoring’ Making Things Worse

    This trend is known as “friendshoring.” In essence, countries such as Vietnam, Indonesia, India, and Mexico are capturing companies exiting China. They offer less political risk, friendlier trade policies, lower labor costs, and are closer to markets. Barring any major shifts in Chinese leadership, companies leaving China are unlikely to return, which is a growing economic and financial gap for the CCP to fill.

    Youth Unemployment Rate at Record High

    People attending a job fair in Beijing on Aug. 26, 2022. (Jade Gao/AFP via Getty Images)

    Other symptoms of the collapse are evident, such as the soaring unemployment rate for young people. It is now a reported 20 percent, but counting those who live with their parents for financial reasons, it’s likely approaching 50 percent. Underemployment makes that picture even worse, which is leading to an angry younger generation. Disaffected youth who see no good options for a better future can be a volatile force to reckon with.

    The Race to Exit Chinese Real Estate

    All of these reasons and others are why some wealthy Chinese have been selling their China properties as quickly as they can. They’re desperately trying to move their money out of China and invest abroad before the value of their Chinese real estate holdings loses even more value. They know the trajectory of the Chinese economy and want out.

    Many are buying real estate in Japan.

    It’s not just proximity attracting Chinese investors to Japanese real estate, although that is a significant factor. Another enticement is that owning real estate (or a profitable business) in Japan can lead to long-term or even permanent residency visas. That gives Chinese investors an easy way out of the country to avoid the coming meltdown, as well as avoiding the iron hand of the CCP.

    The “China miracle” is no more.

    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, 10/31/2023 – 23:45

  • Gazans Face 'Daunting' Task Of Finding Water As Bombs Fall, Disease Spreading
    Gazans Face ‘Daunting’ Task Of Finding Water As Bombs Fall, Disease Spreading

    Via Middle East Eye,

    Weeks after Israel followed through with its threat to cut water supplies to GazaPalestinians living in the besieged territory are struggling to survive without the basic necessities. Residents of the area currently being bombarded by Israeli warplanes told Middle East Eye that obtaining water has become a “daily ordeal”, and they fear the spread of disease with a number of residents already dealing with stomach ailments and other illnesses.

    Israel cut off water supply to Gaza shortly after the October 7 attack by Hamas-led Palestinian fighters on southern Israel. During the attack, around 1,400 Israelis died and more than 220 were taken captive. At least 8,000 Palestinians have been killed in Israel’s retaliation for the assault. Israeli authorities conditioned the resumption of water supplies on the return of the hostages, but has also attacked other means of water delivery and sewage treatment in the territory, such as desalination plants.

    A man in Gaza sells water in tanks carried from donkey-drawn carts on 30 October, AFP.

    “Our access to water, be it for drinking or cleaning, has diminished significantly. The quest for even a modest amount of fresh water has become a daily ordeal,” said Osama al-Baz, a displaced Palestinian in Gaza. Baz’s family were forced to leave their home in northern Gaza on October 13 after Israel warned civilians living there that they were not safe.

    They now live with friends in the south of the region, where they are part of a group of 20, including several elderly people and six young children. Calling Israel’s policies a form of “collective punishment”, Baz said getting “basic necessities such as water and food has become a daunting task”.

    “On the few occasions when water is available, we rush with buckets and containers, hoping to salvage what we can. Every chance to obtain water feels like it could be the last. “On the rare occasions when we do obtain water, we prioritize the needs of the most vulnerable among us: the elderly, the infirm, and the children,” he said.

    There have been times when, out of sheer desperation, we consumed water that was clearly unfit for drinking for several days.” Baz explained that taking such risks with water exposed those in his group to illnesses, such as dehydration, stomach ailments and diarrhoea.

    Showers have become a “luxury” for Baz’s group and there is barely enough water to clean bathrooms.

    ‘Disease outbreak’

    Baz’s descriptions correspond with those of other Palestinians in the area. Tens of thousands from the northern areas of Gaza have moved south to comply with the Israeli army’s orders. The south of the territory remains an active warzone with frequent Israeli attacks on the area.

    Continued bombardment and consequent damage to infrastructure, coupled with the resource strain that has emerged from the mass displacement of Palestinians from northern Gaza, means there are already huge shortages that make it near impossible to carry out the basic functions of life.

    Wisam, a Gaza resident, told Middle East Eye that he had initially moved from Gaza City to the Al-Maghazi refugee camp in the south to seek refuge with relatives.

    “There was no water available, to the extent that going to the bathroom became a strenuous task. We had to bring water in a bucket to the bathroom, if we found any, and use the least amount possible. We force ourselves to avoid going to the bathroom as much as we can,” he said. “We bathe the children only, using the most meagre amounts of water,” Wisam added.

    Women wash clothes at a Gaza beach using sea water collected in buckets. via AFP

    His family then returned to Gaza City and specifically to Al-Quds Hospital, which Israel has repeatedly demanded the evacuation of. “The scene there was nothing short of harrowing,” Wisam said.

    “Clean water was a rarity, and basic sanitation seemed a distant memory. Hundreds of people were crammed into tight spaces, using communal bathrooms without adequate sanitation facilities. 

    I fear that the hospital is turning into a hotspot for disease outbreaks, given the cramped conditions and dwindling supplies,” he added.

    ‘Scratching incessantly’

    Of course, journalists working on the ground in Gaza know first-hand the difficulties of getting water. Middle East Eye contributor Mohammed al-Hajjar described how Israeli attacks on water pumps had ensured the only water coming through was that which was tainted by sea water and pollution.

    Gaza’s residents had previously installed filters at these pumps so that a majority of impurities were removed for use besides drinking. “This water was okay for bathing or washing dishes, and you could use it for ablutions (wudhu), but it wasn’t really drinkable,” Hajjar said.

    “Now, with the filters non-operational and the pumps barely working, that dirty water is back in our homes.” The effects, Hajjar said, were immediate. 

    My skin started showing inflammations, especially where I washed or performed ablutions. My children have the same reaction. It looks like mosquito bites but it isn’t. Washing our hair with this water results in intense itching, especially on the scalp and hands.

    “I’ve resorted to a moisturizing cream with an anasthetic for my children to stop them from scratching incessantly. My wife has the same issues. In fact, almost all of my family, 14 of us in total, suffer from this.”

    Hajjar said his wife was showing signs of illness including “fever and a yellowish tint to her skin”. Seeking medical help though was out of the question, as hospitals and clinics are stretched to their limits trying to save victims of Israel’s bombing campaign. “We’re trying to self-treat, we’re doing our best.” 

    Tyler Durden
    Tue, 10/31/2023 – 23:25

  • False Claims Haunt Family Of Woman Who Died On Jan. 6
    False Claims Haunt Family Of Woman Who Died On Jan. 6

    Authored by Joseph M. Hanneman via The Epoch Times (emphasis ours)

    Thirty-three months after their daughter Rosanne Boyland’s tragic death at the U.S. Capitol on Jan. 6, 2021, Bret and Cheryl Boyland feel new pain every time a media outlet publishes the false claim that their daughter died of a drug overdose.

    (Illustration by The Epoch Times, Courtesy of Boyland Family, CC BY-SA 3.0)

    On Oct. 12, a prominent national newspaper wrote that Ms. Boyland “died of what was determined to be a methamphetamine overdose.”

    Within a day, that claim spread all over the internet, even appearing as a snippet on the website of the Merriam-Webster dictionary under the word “die.” A week later, the newspaper corrected the error, but the family said the damage was done—again.

    The article brought to the surface new pain for the Boylands, whose daughter died in Washington at age 34 after collapsing in the Lower West Terrace tunnel.

    News outlets have routinely claimed that Ms. Boyland died of a drug overdose.

    In April 2021, a popular news website’s headline blared “Capitol Rioter Rosanne Boyland Died of Drug Overdose, Not Trampling.” The same day, a prominent news magazine stated that Ms. Boyland “died as a result of a drug overdose.” A British tabloid used the same wording in its coverage.

    The official cause of death was listed as amphetamine toxicity from her prescription medication Adderall. The manner of death was an accident.

    The Boylands challenged the amphetamine finding, eventually hiring an independent forensic pathologist who said Ms. Boyland most likely died of compressional asphyxia, not from Adderall or illegal drugs.

    Getting anyone to listen has been a never-ending battle.

    “We knew from the early morning of January 7 that somehow the cause of death would be listed as drug-related,” Cheryl Boyland told The Epoch Times. “Both the medical examiner’s office and the detective said to expect a fentanyl overdose. We told them that was impossible, but they continued to insist on it.”

    The fentanyl theory was due to the presence of fluid in Ms. Boyland’s lungs, according to a Jan. 7, 2021, Metropolitan Police Department report. The theory was wrong, as toxicology tests would prove a few months later.

    Ms. Boyland didn’t use fentanyl or street drugs. She had battled addiction earlier in her life but had been clean and sober for five years when the Jan. 6, 2021, overdose accusations began.

    “For anyone like Rosanne or their family members who helped fight through addiction battles for years, to be falsely reported as dying of an overdose is about the worst slap in the face anyone could get,” Mr. Boyland told The Epoch Times. “To take it a step further and to see a lot of journalists say she died of a meth overdose is an even worse slap in the face.”

    Ms. Boyland had taken the prescription medication Adderall, a stimulant that’s used to treat attention deficit hyperactivity disorder, for 10 years without complication, her parents said.

    Adderall is used to treat attention deficit hyperactivity disorder; Ms. Boyland had taken the medication for 10 years without complications, her parents said. The stimulant is made up of four amphetamine salts.

    Methamphetamine—a highly addictive and potent stimulant—isn’t the same drug as Adderall.

    Meth is one of the most widely abused controlled substances in the United States. Its illegal use has driven a steep increase in overdose deaths over the past decade. Much of the illegal supply of meth comes from criminal gangs in Mexico, according to the National Institute on Drug Abuse.

    When the District of Columbia Office of the Chief Medical Examiner ruled that Ms. Boyland died of “acute amphetamine intoxication,” the Boylands challenged the conclusion, but their concerns were ignored by the medical examiner’s office, they said.

    The Boylands said that Chief Medical Examiner Dr. Francisco Diaz told them that the “results of the autopsy were not clear-cut” and that the only thing that they could “all agree upon” as a cause of death was Ms. Boyland’s prescription of Adderall.

    “We asked him to include the term ‘prescription’ because others would believe she died from a meth overdose,” Mrs. Boyland said.

    “He responded that everyone knows the difference between amphetamine and methamphetamine. Our family knew better.”

    Paramedics perform cardiopulmonary resuscitation on Rosanne M. Boyland outside the Law Library entrance of the U.S. Capitol on Jan. 6, 2021. (Andrew Caballero-Reynolds/AFP via Getty Images)

    Victory Over Addiction

    There was a time in Ms. Boyland’s life when she used heroin and crystal meth. Her parents said she worked very hard to get clean.

    “Rosanne spent a long time in treatment, trying to overcome her addictions,” Mrs. Boyland said. “She dedicated herself to helping others. Her friends have countless stories about her support during their trying times. Many of them relied on her to be strong.

    During her memorial service, we emphasized that she did not relapse, not only for Rosanne’s reputation, but so that her friends wouldn’t give up and relapse.

    The Boylands said their daughter would have taken her morning dose of Adderall at about 7 a.m. on Jan. 6, 2021.

    There’s no evidence that Ms. Boyland was ailing or impaired when she and her friend Justin Winchell attended President Donald Trump’s speech at the Ellipse or when they walked to the U.S. Capitol after 1 p.m. that day.

    A video clip of Ms. Boyland ascending the stairs from the Capitol’s West Plaza to the Lower West Terrace that afternoon showed her smiling from behind her American flag sunglasses. She didn’t appear ill.

    “It’s impossible for her to have taken her medication about 7 a.m., walk around fine all day long, then overdose in the late afternoon without taking any more medication,” Mrs. Boyland said. “The medical examiner’s office refused to answer us about that. The blood sample used for toxicology tests was taken from an area [of the body] known to give inaccurate results—probably deliberately.”

    The Office of the Chief Medical Examiner (OCME) declined to comment on the issues that were raised by the Boylands.

    The department “does not release information or discuss cases with the media beyond the release of an official statement as to cause and manner of death, which was previously done in this case,” Rodney K. Adams, OCME chief counsel, wrote in a statement to The Epoch Times. “This is based on the District’s privacy statute and out of respect for the privacy of the survivors.”

    New Cause of Death

    In April 2022, the Boylands hired forensics consultant group Park Dietz & Associates to do a comprehensive review of the autopsy and its conclusions. A new autopsy wasn’t possible because Ms. Boyland’s body was cremated.

    A board-certified forensic pathologist from Park Dietz ruled out amphetamine intoxication as the proximate cause of death but said it might have been a secondary contributing factor.

    There was no evidence of illicit drug use,” the forensic pathologist wrote. “The finding of amphetamine in her postmortem blood and gastric contents is consistent with her prescribed use of Adderall, which is a combination drug containing four amphetamine salts.”

    The concentration of amphetamine in Ms. Boyland’s blood was elevated, the doctor wrote, but other factors could explain this finding.

    “Ms. Boyland’s obesity may have potentiated the storage of the drug in her body tissues,” the pathologist wrote, “and blood from the inferior vena cava is not the optimal specimen for testing for amphetamines, which may be subject to postmortem redistribution.”

    The pathologist said Ms. Boyland’s cause of death was compressional asphyxia, “a situation in which pressure exerted on the chest or back of an individual impedes normal breathing and often leaves no diagnostic physical findings.”

    The pathologist said Ms. Boyland’s surroundings at the time of her collapse can’t be ignored.

    Police had deployed an unknown gas into the tunnel at about 4:20 p.m., two minutes after Ms. Boyland walked into the structure, security footage shows. Witnesses described a sensation of the oxygen being sucked out of the atmosphere. The crowd panicked and ran to escape the tunnel.

    Rosanne Boyland and friend Justin Winchell at the U.S. Capitol in Washington on Jan. 6, 2021. (Courtesy of the Boyland Family)

    Tyler Durden
    Tue, 10/31/2023 – 23:05

  • Judge Blocks Biden Administration From Damaging Razor Wire Along US–Mexico Border
    Judge Blocks Biden Administration From Damaging Razor Wire Along US–Mexico Border

    Authored by Zachary Stieber via The Epoch Times (emphasis ours),

    The Biden administration must stop cutting and otherwise damaging razor wire that Texas has placed along the U.S.–Mexico border, a federal judge ruled on Oct. 30.

    A migrant from Venezuela waits for a U.S. Border Patrol agent to cut the razor wire after he crossed the Rio Grande to Eagle Pass, Texas, on Sept. 24, 2023. (Andrew Caballero-Reynolds/AFP via Getty Images)

    U.S. officials mustn’t remove the wire or tamper with it, U.S. District Judge Alia Moses said as she entered a temporary restraining order.

    The exception is in cases of medical emergencies that would “most likely” result in serious bodily injury or death to a person, provided no “live-saving apparatus” is available, Judge Moses, an appointee of former President George W. Bush, wrote in her ruling.

    The U.S. Department of Homeland Security (DHS), which includes border agents, told news outlets it doesn’t comment on pending litigation but would comply with the order.

    “Generally speaking, Border Patrol agents have a responsibility under federal law to take those who have crossed onto U.S. soil without authorization into custody for processing,” the agency said.

    Texas Gov. Greg Abbott, a Republican, called the ruling “another win for Texas and our historic border mission.”

    The wire was put into place as the governor’s effort, called Operation Lone Star, to strengthen border security.

    “Biden created this crisis and has tried to block us at every turn. Attorney General Paxton and I are pushing back,” Mr. Abbott wrote on X.

    Texas Attorney General Ken Paxton, another Republican, sued the Biden administration earlier in October for tampering with the barriers.

    The temporary order is in place until Nov. 13, unless the court extends it.

    The government is prohibited from removing the wire, concealing it, offering it to another person, selling it, and tampering with it.

    A hearing on the bid from Texas for a preliminary injunction is scheduled for Nov. 7.

    A forklift removes razor wire at the U.S.–Mexico border in Texas on Oct. 26, 2023. (Courtesy of Texas Military Department)

    Damaging the Wire

    Mr. Paxton said in his complaint that U.S. Customs and Border Protection (CBP) agents were damaging the wire to allow thousands of illegal immigrants to enter Texas.

    “Federal agents not only cut Texas’s concertina wire, but also attach ropes or cables from the back of pickup trucks to ease aliens’ ability to illegally climb up the riverbank into Texas. And they regularly cut new openings in the wire fence, sometimes immediately after Texas officers have placed new wire to plug up gaps in fencing barriers,” Mr. Paxton said.

    Several days later, Texas officials asked for the temporary restraining order, pointing to how federal agents had used a forklift on Oct. 26 to hold up some of the wire so that a group of hundreds of immigrants could cross the border.

    This brazen escalation by defendants is an affront not only to Texas, but also to this court, which already had pending before it a motion for a preliminary injunction,” the officials said. “This court should immediately grant a temporary restraining order to enjoin defendants from continuing to damage, destroy, or otherwise meddle with Texas’s concertina wire fence until the court can rule on the state’s preliminary-injunction motion. Alternatively, this court could simply grant a preliminary injunction in light of defendants’ willful misconduct.”

    In a notice to the court on Oct. 28, the officials said federal agents damaged another portion of the fence. Texas Military Department officer Roberto Ortiz Diaz attested to witnessing federal agents using a forklift to flatten the fence, letting dozens of illegal immigrants into Texas.

    “While the operator was flattening the concertina wire, I observed no medical emergencies among the migrant[s] crossing the river, and I am not aware of any reason for [CBP] agents to flatten the concertina wire other than to allow an easier entry path for migrants arriving in the United States,” Mr. Diaz said.

    Federal officials hadn’t yet responded to the various filings as of press time.

    U.S. Secretary of Homeland Security Alejandro Mayorkas delivers remarks during an event at the Department of Homeland Security’s St. Elizabeth’s Campus in Washington on Aug. 17, 2023. (Anna Moneymaker/Getty Images)

    Likely to Succeed

    Judge Moses said Texas was likely to succeed in its claim that federal officials violated a law that prevents people from trespassing to interfere with a person’s property.

    Texas has established that it owns the wires, she said. And multiple officials have said that they witnessed federal officials tamper with the barriers.

    “Third and finally, the plaintiff established that the defendants lacked permission to interfere with the wires,” she said.

    Judge Moses said that because she determined that Texas was likely to succeed in one of its claims, she need not analyze its other claims.

    The other claims include illegally exercising dominion over another’s private property and acting in excess of statutory jurisdiction.

    The case is Texas v. U.S. Department of Homeland Security et al. It’s being heard in the U.S. District Court for the Western District of Texas.

    Tyler Durden
    Tue, 10/31/2023 – 22:25

  • 'Mystery' Blast Rocks One Of Russia's Largest Ammo Manufacturing Plants
    ‘Mystery’ Blast Rocks One Of Russia’s Largest Ammo Manufacturing Plants

    An explosion of unknown cause has rocked one of Russia’s largest ammunition manufacturing plants, according to officials in central Russia’s Perm region, which lies about 1,000km east of Moscow.

    “Windows and doors were broken [but] there are no victims, there is no threat to the populace,” a statement said. “The incident did not affect the plant’s production process.”

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

    Throughout more than a year-and-a-half of war, there have been dozens of similar incidents at various Russian facilities ranging from military warehouses to oil facilities to electrical grid stations and energy pipelines.

    Both Ukrainian and US media have at times admitted some of these instances are part of a covert Ukrainian sabotage campaign with the assistance of Western intelligence. So naturally, when a new explosion happens, there’s an immediate question of whether it is connected to sabotage, or an industrial accident

    The new incident, resulting in apparent damage to the Solikamsk Plant Ural, is raising eyebrows also given it’s a facility under Russian defense giant Rostec

    Images shared on social media appeared to show a plume of smoke rising from the plant following the blast, but The Moscow Times could not independently verify the photos. 

    An unnamed local emergency official told the news website Podyom that the explosion did not cause a fire or impact work at the plant.

    “All in all, the situation is calm,” the official said. Solikamsk Plant Ural, part of the defense conglomerate Rostec, is one of Russia’s largest manufacturers of gunpowder and explosives.

    Earlier this month, at a time the globe’s attention has by and large been completely focused on events in Gaza, The Washington Post published a bombshell report openly admitting that the CIA is actively running covert ops inside Russia, which has included the killing of journalist and geopolitical commentator Darya Dugina.

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

    The report stunningly laid out that as part of this shadow war, “The missions have involved elite teams of Ukrainian operatives drawn from directorates that were formed, trained, and equipped in close partnership with the CIA, according to current and former Ukrainian and US officials. Since 2015, the CIA has spent tens of millions of dollars to transform Ukraine’s Soviet-formed services into potent allies against Moscow, officials said.”

    Whether this latest blast is part of this covert ops program or not (perhaps just a ‘normal’ accident?), it will certainly be a plausible question in the minds of the Russians.

    Tyler Durden
    Tue, 10/31/2023 – 22:05

  • Stroke Could Be Transmissible, Study Finds
    Stroke Could Be Transmissible, Study Finds

    Authored by George Citroner via The Epoch Times (emphasis ours),

    For decades, stress shouldered the blame for painful stomach ulcers. But in 1982, doctors made a groundbreaking discovery: A specific type of bacteria was the real culprit.

    Now, scientists are peering through microscopes again, but this time, they are searching for evidence that suggests blood transfusions may contribute to strokes, a leading cause of death and long-term disability.

    (Peterschreiber.media/Shutterstock)

    Common Cause for Stroke May Be Transmissible via Blood

    A new study found that blood transfusions from donors who later developed multiple spontaneous brain bleeds were associated with a slightly higher risk of hemorrhagic stroke in recipients. This suggests a potential link between blood-borne factors and a type of stroke-causing blood vessel damage in the brain.

    Cerebral amyloid angiopathy (CAA) is the second leading cause of spontaneous hemorrhagic stroke and is associated with deposits of defective beta-amyloid proteins in the walls of blood vessels in the brain, making them fragile and subject to rupture, leading to strokes and cognitive decline.

    Research recently published in the Journal of the American Medical Association found evidence that CAA exhibits “prion-like” transmissivity. Prion disease was previously associated with bovine spongiform encephalopathy, commonly called mad cow disease, a brain disorder in cattle that can potentially be transmitted to humans through contaminated meat. There has been evidence that the condition can transmitted to people by pituitary hormones gathered from cadavers contaminated with amyloid-beta and tau proteins.

    Scientists theorized that blood transfusions may carry the same risk as exposure to contaminated meat.

    To test this theory, researchers conducted a cohort study using nationwide blood bank and health data from over 1 million patients in Sweden and Denmark aged 5 to 80. All had received a red blood cell transfusion between Jan. 1, 1970 (Sweden) or Jan. 1, 1980 (Denmark) and Dec. 31, 2017.

    The study found that patients transfused with blood from donors who later developed multiple spontaneous brain bleeds had a significantly higher risk of hemorrhagic stroke than those receiving blood from donors without bleeds.

    However, no increased stroke risk was seen in recipients of blood from donors who had just a single bleed after transfusion.

    The authors suggest these findings indicate a potential “transfusion-transmissible agent” may be associated with certain spontaneous strokes. They described the increased stroke risk of 2.3 percent in recipients of blood from multi-bleed donors as a “novel finding.”

    A Similar Association Found With Alzheimer’s

    Though not directly analyzed, the study found a similar increased dementia risk in blood recipients from donors who had a single stroke after donation.

    In an editorial accompanying the study, Dr. Steven Greenberg, professor of neurology at Harvard Medical School, wrote the study’s methodology rigorously supports the findings.

    Even a modest increase in hazard of future brain hemorrhages or dementia conferred by an uncommon—but as of now undetectable—donor trait would represent a substantial public health concern,” Dr. Greenberg wrote.

    This underscores the seriousness of undetected traits that could be transmitted through donors, highlighting the importance of identifying these factors to protect tens of millions of people. After all, someone in the United States needs blood every two seconds.

    How Bleeding in the Brain Is Treated

    Treatment depends on the type of injury to the brain, Dr. Theodore Strange, chair of medicine at Staten Island University Hospital, part of Northwell Health in New York, told The Epoch Times.

    If bleeding is from a fall causing a subdural hematoma, it can often be managed nonsurgically or with a simple burr hole procedure, he added. This is a procedure where tiny holes are drilled into the skull, and a rubber tube is inserted to drain the hematoma.

    However, bleeds from stroke or ruptured aneurysms are harder to control. “Although we can, as long as we can get to them early enough and do whatever it is that we can do to minimize the damage done by the bleed to the part of the brain,” Dr. Strange said.

    For cerebellar bleeds, where the bleeding is in the very back of the brain, surgical evacuation of the blood clot is typically needed before finding the cause, he noted. As with strokes, this is simpler for bleeds outside rather than inside the brain.

    Managing Risk Factors Only Hope for CAA: Expert

    Currently, no treatments stop CAA-related amyloid buildup in brain blood vessels. So prevention of bleeding events is crucial, Dr. Strange said.

    Reducing a patient’s risk of trauma, such as falls, which cause concussion and can start a bleed, is imperative.

    “Patients, as they get older, have a tendency to fall more,” Dr. Strange said, noting that medications that increase bleeding risk, including anticoagulants, aspirin, and ibuprofen, should be minimized “when appropriate.”

    Doctors must weigh the risks against the benefits of anticoagulants in patients with other conditions, he added.

    Tyler Durden
    Tue, 10/31/2023 – 21:45

  • FBI Director Warns Threat Of Attacks By Hamas On American Soil Raised "To A Whole Other Level"
    FBI Director Warns Threat Of Attacks By Hamas On American Soil Raised “To A Whole Other Level”

    “The reality is that the terrorism threat has been elevated throughout 2023 but the ongoing war in the Middle East has raised the threat of an attack against Americans in the United States to a whole ‘nother level.”

    That is the scenario FBI Director Chris Wray led with during a Senate Homeland Security Committee hearing today.

    Specifically, Wray warns Hamas terrorists may soon exploit tensions in the US to “conduct attacks here on our own soil” while also inspiring potential domestic extremists to do the same.

    “Here in the United States our most immediate concern is that violent extremists individuals or small groups will draw inspiration from the events in the Middle East to carry out attacks against Americans going about their daily lives.”

    “…cannot and do not discount the possibility that Hamas or another foreign terrorist organization May exploit the current conflict to conduct attacks here on our own soil.”

    Does this mean the feds are no longer focusing their Orwellian ire on conservative Christians as the “greatest threat” to America? Not quite. Wray noted very clearly that this threat from overseas is

    “…on top of the homegrown violent extremists and domestic violent extremist threat…”

    Watch Wray’s remarks in full below:

    Any attacks, whether perpetrated by actual Islamic terrorists, leftist activists or covert agencies serving “special interests” will likely be used as an excuse for more aggressive pressure on constitutional rights in the US. 

    Anyone who opposes such controls may also be labeled terrorists. 

    The sociopolitical dynamics of America are about to shift once again to an ugly place with uncertain outcomes.

    Tyler Durden
    Tue, 10/31/2023 – 21:25

  • 29 Cities In Los Angeles Sue County Over Zero Bail Policy
    29 Cities In Los Angeles Sue County Over Zero Bail Policy

    Authored by Eric Lundrum via American Greatness,

    A lawsuit has been filed against Los Angeles County by 29 cities located within the county, challenging the county’s recently-implemented zero bail policy making it easier for criminals to be released back onto the streets.

    According to Just The News, the lawsuit states that the zero bail policy, which took effect on October 1st, does not “take into consideration the protection of the public, the safety of the victim, the seriousness of the offense charged, the previous criminal record of the defendant, and the probability of his or her appearing at the trial or hearing of the case.”

    The new policy declares that cash bail will still be required for those charged with assault, domestic battery, stalking, and violation of a protective order. Judicial review will be utilized for anyone charged with the crimes of human trafficking, sex with a minor, and battery on a peace officer.

    Meanwhile, all other crimes will see suspects cited and released immediately upon their arrest, and instead given court orders to appear for arraignment at a later date.

    Following the announcement of the lawsuit, Claire Simonich, a spokeswoman for Vera California, the state branch of left-wing criminal justice reform group Vera Institute of Justice, defended the zero bail policy by claiming, with no evidence, that it is a safe policy.

    “The opponents are not only drowning out the factual data on the policy, but the years of research on not just Los Angeles County but in areas across the country that show ending money bail and ensuring public safety go hand in hand,” Simonich claimed.

    “A similar version of the policy has been in effect on and off for the last three years in Los Angeles County. Violent crime and property crime effectively dropped or remained unchanged compared to the two years before the policy was in place.”

    Los Angeles County had previously implemented a similar zero bail policy during the Chinese Coronavirus pandemic, in an effort to reduce the prison populations and slow the spread of the virus throughout prison facilities.

    However, after briefly ending the COVID-era policy, Los Angeles County opted to re-implement a more permanent version due to what some activists called “dismal” conditions in pre-trial jails.

    Among those supporting the lawsuit against zero bail are Los Angeles County Sheriff Robert Luna and Los Angeles County Deputy District Attorney Jonathan Hatami, the latter of whom is challenging District Attorney George Gascon (D-Calif.) in the 2024 election.

    “Our communities have not been shy about telling us how nervous they are about this change,” said Sheriff Luna.

    “Crime victims who see offenders immediately released from custody are left with little confidence in the criminal justice system.”

    “The total number of cities now suing over LA County’s $0 bail policy has reached 29. All of us want a bail policy that is fair and just for every resident of LA County,” said Deputy DA Hatami.

    “That, however, should be done in collaboration with the 88 cities and their residents, victim groups and law enforcement agencies that are going to be directly affected by immediately releasing individuals who are arrested for crimes.”

    Tyler Durden
    Tue, 10/31/2023 – 21:05

  • "Pharmageddon" Strikes US Drugstores As 5,000 Workers Walk Off Job
    “Pharmageddon” Strikes US Drugstores As 5,000 Workers Walk Off Job

    Mostly non-unionized employees at CVS Health Corp. and Walgreens Boots Alliance drugstores have walked off the job in protest about harsh working conditions.

    Reuters said the three-day walkout of thousands of pharmacy workers began on Monday and has been dubbed “Pharmageddon” on various social media platforms, like X and Facebook. 

    The protest garnered support from the American Pharmacists Association, the largest advocacy group for pharmacy workers, which expressed: 

    APhA stands with every pharmacist who participated in the walkout today. The bottom line is that we support every pharmacist’s right to work in an environment with staffing that supports your ability to provide patient care. We know that these are steps you deem necessary in order to be heard by your employer.

    Reuters spoke with Shane Jerominski, an ex-Walgreens pharmacist and one of the organizers of the protest, who said it’s unclear how many stores are affected nationwide by the walkout. He noted at least 5,000 pharmacy workers are participating in the non-unionized labor action. 

    Workers at Walgreens and CVS have staged walkouts before. Several pharmacies in the US were closed in Arizona, Washington, Massachusetts, and Oregon in September and early October over labor action disputes. Walgreens told CNN the current labor action is only impacting operations “minimally.” 

    The Facebook page “The Accidental Pharmacist,” with its 122,000 followers – many of whom are pharmacists and technicians – has been actively sharing updates regarding the ongoing walkout.

    Drugstore disruptions? 

    This latest labor action comes as workers are getting record-breaking pay hikes thanks to strategic strikes, according to Bloomberg. 

    “We are seeing an incredible moment of worker power,” Acting US Labor Secretary Julie Su said in an interview. 

    Su said, “We said that essential workers matter, and now workers are saying, ‘Let’s really figure out what that looks like.'”

    The drugstore walkout shows a new labor movement emerges.

    Tyler Durden
    Tue, 10/31/2023 – 20:45

  • Time Magazine's Stunning Reversal: Zelensky 'Deludes' Himself Into Thinking Ukraine Can Win
    Time Magazine’s Stunning Reversal: Zelensky ‘Deludes’ Himself Into Thinking Ukraine Can Win

    Authored by Dave DeCamp via AntiWar.com,

    One of Ukrainian President Volodymyr Zelensky’s closest aides has told Time Magazine that the Ukrainian leader has deluded himself into thinking Ukraine can win an ultimate victory against Russia after the failed counteroffensive and amid waning support for the conflict in the West.

    The report said that despite the setbacks, Zelensky “does not intend to give up fighting or to sue for any kind of peace. On the contrary, his belief in Ukraine’s ultimate victory over Russia has hardened into a form that worries some of his advisers. It is immovable, verging on the messianic.”

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

    The aide said Zelensky “deludes himself,” adding, “We’re out of options. We’re not winning. But try telling him that.” The report said that the idea of negotiating peace or a temporary truce with Russia remains taboo to Zelensky.

    “For us it would mean leaving this wound open for future generations,” Zelensky told Time. “Maybe it will calm some people down inside our country, and outside, at least those who want to wrap things up at any price. But for me, that’s a problem, because we are left with this explosive force. We only delay its detonation.”

    A senior Ukrainian military officer told the magazine that the armed forces has had to second guess orders that came from Kyiv’s political leadership, including an order to capture the Donetsk city of Horlivka.

    “They don’t have the men or the weapons,” the officer said. “Where are the weapons? Where is the artillery? Where are the new recruits?”

    Ukraine is not just running low on weapons to fight the war but also manpower. One of Zelensky’s aides said even if Ukraine’s Western backers supplied all the arms they need, “we don’t have the men to use them.”

    The report also detailed the corruption in the Ukrainian government that led to Zelensky’s recent move to sack former Defense Minister Oleksii Reznikov. The author of the Time story, Simon Shuster, said he naively thought a Ukrainian official would think twice before taking a bribe, but an adviser to Zelensky told him otherwise. “Simon, you’re mistaken,” the adviser said. “People are stealing like there’s no tomorrow.”

    Tyler Durden
    Tue, 10/31/2023 – 20:25

  • RFK Jr. Renews Plea For Secret Service Protection After Second Stalker Arrest
    RFK Jr. Renews Plea For Secret Service Protection After Second Stalker Arrest

    Robert F. Kennedy Jr., whose father and uncle were assassinated over politics, has renewed his call for the Biden administration to provide him with Secret Service protection after a man was arrested twice in the same day for scaling the fence of Kennedy’s Los Angeles home on Oct. 25.

    Kennedy has 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 last week.

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

    The incident comes 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.

    The 2024 election is currently 370 days away.

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

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

    It doesn’t take too much tinfoil to conclude that Kennedy is being denied because it would legitimize his candidacy, splitting the Democrat vote, and handing the 2024 election to Donald Trump.

    Tyler Durden
    Tue, 10/31/2023 – 20:05

  • "I Pray To God This Isn't World War III"
    “I Pray To God This Isn’t World War III”

    Submitted by QTR’s Fringe Finance

    If there’s one takeaway I have from witnessing the discourse over the Israeli-Palestinian conflict, it’s that nuance is an absolute necessity when discussing it, yet nobody seems able to exercise even a modicum of nuance while doing so.

    Because the issue is complex, polarizing, and demands reasoned thought, I’d like to start off my piece today by offering a sentiment that hopefully everyone can agree on: I pray to God that this isn’t the start of World War III.

    However, as the days over the last several weeks have gone by, I find there’s less and less to be optimistic about — and I’m not talking about as it relates to the stock market, I’m talking about as it relates to humanity.

    Like all problems stemming from deep threaded conflict and a necessity for complex, intellectual reasoning and compromise, I fear this one will only worsen until it reaches some type of point of no return.

    The scenes on Sunday of a mob at an airport in Dagestan, surrounding an airplane and reportedly searching for Jewish people arriving on a flight from Tel Aviv, were a new type of horrifying. It appears as simply a modern day pogrom.

    Putting aside the fact that many on social media just wrote off Dagestan as a fourth- or fifth-world country, thereby backhandedly justifying the behavior, the backdrop of a modern-looking airport stocked with state of the art commercial jets is enough to elicit comparisons to many airports we’ve all traveled through.

    And to me, the mob mentality taking place among those storming the airport, and eventually accosting passengers accused of being Jewish, seems like only a small step from the mob mentality we saw in U.S. cities during the protests and riots of 2020: there was no reason, there was no civility, and there were no dissenting voices.

    How many people have brushed off this occurrence, or other similar occurrences, thinking it could never happen in the United States or Europe? To me, it feels like we are on a hairpin trigger for exactly this type of senseless mob rule.

    There are millions of supporters of Palestine who only seek out peace, have only ever sought out peace, and want an end to all war. These are things I am always going to get behind. Absolutely nobody wants to see innocent civilians killed, and hopefully everybody knows that war is hell.

    But sadly, there is also a constituency of uneducated, virtue-signaling reactionaries, coupled with actual extremists, that have commingled with protesters seeking out peace and sullied much of the noble cause for many of those who support peace.

    Of course, as these fools will argue, Hamas “had their reasons” for carrying out the atrocious act of killing more than 1,000 Israelis, including innocent people at a music festival. The question isn’t whether or not they thought they were justified; the question is whether it is a morally sound undertaking to, before Israel even gets a chance to respond, tacitly bless Hamas’s actions by overlooking them and immediately protesting in support of Palestine.

    Other than the logical fallacy that people were protesting retaliation that hadn’t even happened yet, it’s also just tasteless. While the Middle East is one of the most polarizing conflicts in the world, think about why anybody would cheer on the death of innocents, anywhere. Maybe I’m just old fashioned, but I don’t even wish death upon my worst enemies.

    Next, think about the mindset of somebody living in the United States and tearing down photographs of kidnapped Israelis that have been plastered in public.

    Sure, one could make the argument that these posters, located 5,000 miles away from Israel, do little. Put that aside. How askew does one’s moral compass need to be to walk by and tear these photographs down? If, like many suggest, they do nothing, then leave them be. I already hear some 20 year old dorky white “activist” kid from the Villanova suburbs argue: “The mindset of those tearing down the flyers is that of people who feel as though they have a legitimate grudge!”

    Uh, yeah. And hey, Hamas also thinks they have a legitimate grudge. And so does Israel. But when are we going to realize that at some point this endless jihad joyride is going to have to end and we’re going to have to choose peace? And when are we going to realize that it’s easier to choose peace after years of no major conflict and not the day after over 1,000 innocent people are murdered?

    When are we going to realize that no matter how big of a grudge you think you have, the systematic targeting and killing of members of any ethnic group simply isn’t the answer?


    50% OFF ALL SUBSCRIPTIONS: Subscribe and get 50% off and no price hikes for as long as you wish to be a subscriber.


    What worries me most is that there is a massive absence of nuance when discussing the situation. On Sunday, I commented on Twitter that the footage of the Dagestan airport mob was “horrifying.”

    Someone promptly responded by saying:

    “Interesting you haven’t said the same of the 4,000+ kids in Gaza who were murdered by F-35 fighter jets. Unsubscribed from your shitty podcast.”

    This is a perfect example of the thoughtless, reactionary, borderline-esque reasoning that causes conflicts like these to perpetuate. That Tweet is the reason I decided to write this piece: I knew such a complex issue couldn’t be discussed in 280 character quips.

    And of course I am not blessing the death of 4,000 kids in Gaza by calling the situation in Dagestan horrifying. Most people with basic reasoning skills would understand that. But that isn’t how the dialogue regarding this conflict is taking place, as this response shows. You are either for one side or the other, and there’s no in-between. This type of thoughtless polarization is only going to lead to more chaos, not resolution.

    For many “intellectuals” who have lived silver spoon lives in the very same Western world that Hamas hates (without ever experiencing the slightest inclination of discomfort or loss of security, let alone rocket attacks or a massacre of family members), the horrors of Hamas’s actions are completely justified.

    The self appointed “scholars who are committed to robust inquiry about the most challenging matters of our time” (vom) at Columbia University said over the weekend:

    “In our view, the student statement aims to recontextualize the events of October 7, 2023, pointing out that military operations and state violence did not begin that day, but rather it represented a military response by a people who had endured crushing and unrelenting state violence from an occupying power over many years.”

    A statement that was then beautifully summed up by my friend Nathan Anderson:

    “Columbia faculty saying Hamas’ October 7th rape and massacre of families and festival-goers represented a ‘military response’ to an occupation of Gaza that hasn’t existed since 2005.

    Has the value of an Ivy League education ever plummeted so quickly as it has this past month?”

    Elsewhere in the “Ivy League”, on a Cornell online forum late Sunday, there were calls to slit the throats of Jewish people, resulting in a lockdown on campus.

    To me, it’s simple: at some point, when both states go to their respective corners and there are years of peace, blame can be assigned regardless of history to the state that restarts the conflict in the meaningful way that Hamas just did. If Hamas hadn’t engaged in terrorism this month, we wouldn’t be talking about this conflict right now. End of story.

    Even more worrisome is that Russia has failed to condemn Hamas’s actions in any meaningful way.

    And to me, I can’t help but get the feeling that the entire world is once again dividing the way it did during World War II. On one side, you have the United States, Ukraine, Israel, and Europe – the West, and on the other, you have Russia, China, India, and most of the rest of the Middle East. The entire world feels more divided than it has in recent memory.

    Several years ago, this was a trend that I only noticed taking place economically. Now, the rubber has met the road, and it feels as though it is starting to take place militarily. With two major conflicts now taking place on the global stage, I feel as though we are one catalyst—perhaps China trying to take Taiwan—away from a Third World War. Let’s hope to God that I’m wrong, and that I’m simply paranoid.

    Amidst this global volatility and confusion, the United States feels as though it is still struggling to maintain its economic and financial gravitas on a global stage. We continue to run what can only be described as abusive fiscal and monetary policy. The nations opposite us are openly challenging the U.S. dollar — and U.S. policy — while hoarding gold.

    Our own country seems more divided and confused than ever. Ivy League universities have been turning out students who have openly and actively made attempts to justify Hamas’s recent actions. The institutions that were supposed to ensure that students had a bedrock of reason and morality have instead been instilling an entire generation with entitlement and what can only be described as a warped sense of reality.

    As Bret Weinstein said in 2019, universities and students have lost their way because ideas that would have never cut the mustard 20 or 30 years ago at U.S. colleges and institutions have been given an affirmative action of sorts, all because people in the United States are afraid to, for lack of better words, call out bullshit when they see it, as we don’t want to hurt anybody’s feelings. Weinstein makes the point perfectly here:

    And so not only do we have an increasingly bifurcated world, with multiple conflicts that all require critical thinking and nuance that we are no longer capable of deploying, we have an entire generation of people in the United States that are so entitled, confused, and narcissistic that they are literally exercising zero reason in choosing the causes they support.

    For example, there’s a large constituency of the LGBTQ community (or whatever it’s called today) that is coming out and throwing their support behind Palestine and Hamas. You’ll notice, however, that none of these supporters are buying plane tickets and making their way to the Middle East to show support, because, of course, their interest is strictly in feigning support for causes that would result in their death, but not actually succumbing to risking their lives. Odd how that works.

    We have angry far left 20-something-year-old college students in the United States, in between unknowingly serving their corporate overlords on trips to their local Starbucks and making TikTok videos on their iPhones assembled with slave labor, publicly calling for the killing of Jewish people. Ironically, they are partaking in these protests because the United States allows for free speech and the freedom to live their life however they choose. I think everybody that wants to wave a Hamas flag in the United States (yes, they waving Hamas flags at some protests, and not Palestine ones) should be required to go and live in the Middle East for a couple of weeks and see exactly how their lifestyle compares to the lifestyle that they are “fighting” for.

    There’s definitely a moral equivalency when it comes to senseless killing. I stand with all the people who do not want to see innocent civilians killed, no matter where they are around the globe. I don’t subscribe to the notion that an eye for an eye makes sense. Rather, as the old adage goes, I believe that the whole world will wind up blind. But after years of relative peace, when one group murders over 1,000 innocent civilians of another group, jumping up in arms about the victim retaliating before it ever even takes place is an ugly look.

    Sadly, it appears to me that many people in the United States protesting in support of Palestine, in the days after Hamas committed these atrocities, are part and parcel with a larger group of people who simply deem themselves activists and don’t realize there is not a moral equivalency in how both sides see the world. These “activists” pride themselves on fighting for any cause, regardless of how much sense it actually makes.

    It is the same lack of logic and flawed thinking that has me worried that the Middle Eastern conflict will continue to spread, not just among the governments of other countries, but among the citizens in other countries as well. Watching the Dagestan airport video, I understand that it is unlikely something like that would happen in the United States. But bearing that in mind, I think there has never been a time in recent history where the conditions have been ripe enough for it to actually take place.

    While it’s no secret that the right side of the aisle in the United States has had their fair share of disagreement and confusion over the last month, I simply have no idea how any Democrats believe that they’re going to be able to retain the support of the Jewish community heading into the next election. Even The Nation has had enough.

    The breeding ground for the horrifically flawed and extremely troubling “woke” ideology, which is actively justifying the actions of Hamas while condemning any response from Israel, all sprang from the fertile ground of the far left. This is not a political rant, but I simply can’t imagine any Jewish person voting for the party that chose to stand with Palestine after the massacre of 1,200+ innocent people and well before Israel ever even had a chance to retaliate.

    I’m not the biggest Sam Harris fan, but he nails the nuance here in this 13 minute video (and here is another version that’s similar, but not as up to date):

    It is, of course, true that we in the West have been on the wrong side of these dichotomies in the past. Most Western armies, including Israel’s, have at one time or another been guilty of war crimes. And if you go back far enough, all of human conflict was just a litany of war crimes. You don’t have to go back all that far, in fact, to find large pockets of Western culture that were morally indistinguishable from what we now see in much of the Muslim world.

    If you have any doubt about this, study the photos of white mobs celebrating the lynchings that occurred in the American South in the first half of the 20th century. Here, seemingly whole towns—thousands of men, women, and children—turned out as though for a carnival to watch some young man or woman be tortured to death and then strung up on a tree or lamppost for all to see…

    The point, of course, is that if we recognize the monstrosities of the past, we should recognize the monstrosities of the present and acknowledge that at this moment in human history, not every group has the same ethical norms governing its use of violence, for whatever reason.

    When I step outside and walk the streets of Philadelphia, I see many of these confused people protesting for both sides. To me, I don’t see people fighting for causes; I see broken individuals incapable of being at peace with their sense of self, which, to me, is where true calm, respect for others, and peace comes from.

    I also look around and see tons of level-headed, rational-minded individuals who I know are, in fact, capable of critical thinking about the issue and genuinely do seek peace. But it’s not these people I’m worried about. It is the radicalization of a small group of people that can set off a chain of events like we are seeing now: one reactionary decision after another, which spirals endlessly until one large, decisive end.

    Domestically, ask yourself: which group is more likely to do that, Jews or Jihadists?

    Regardless, in this case, the only thing I hope and pray for is that the terminus this conflict is eventually heading for doesn’t wind up being World War III.

    Can we at least all agree on that?

    If you enjoyed this post you can become a subscriber here or share it using these links. 

    QTR’s Disclaimer: 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 not been fact checked and are the opinions of their authors. 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. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

    Tyler Durden
    Tue, 10/31/2023 – 19:45

  • US Crude Production Breaks Records As Shale Drives All Growth In Global Oil Supply Over Past Decade
    US Crude Production Breaks Records As Shale Drives All Growth In Global Oil Supply Over Past Decade

    With core OPEC+ cartel members Russia and Saudi Arabia doing everything in their power to throttle oil output and push the price of oil higher, the US is again emerging as not only a thorn in OPEC’s side but as the marginal producer of world oil. According to EIA data, US crude oil production hit an all-time high in August, as production surpassed pre-covid levels.

    US field production of crude oil reached 404.6 million barrels during the month of August, new EIA data showed, for an average of 13.05 million barrels per day, breaking the previous record US drillers set in July of 401.73 million barrels. Compared to this time last year, U.S. production is up by a total of 33 million barrels for the month. Remarkably production hit all time highs even as the number of rotary US oil rigs has slumped in the past year. How is this possible? We answer that question below.

    Increases in production were seen in PADDs 1, 2, 3, and 4, with the largest percentage increase in production seen in PADD 4, which comprises Colorado, Idaho, Montana, Utah, and Wyoming. The largest actual increase was seen in PADD 2, which includes North Dakota, Illinois, and Kentucky, among other states.

    Crude production in Texas in August – home to a large portion of the Permian Basin and where Exxon will soon be undisputed energy king after its merger with Pioneer closes –  rose from 173.775 million barrels to 174.562 million barrels.

    Despite the record-breaking production levels seen in August, inventories of crude oil in the United States are estimated to be within 3 million barrels of where it began the year.

    The new record in crude production in the United States comes shortly after U.S. supermajor ExxonMobil spent $60B on purchasing another Permian player, Pioneer Natural Resources, although most oil companies in the United States have chosen fiscal restraint resulting in a slow and steady increase in output versus the no holds barred investment strategies during previous boom cycles.

    What is perhaps more remarkable is that in a recent report (available to pro subscribers) from Goldman commodity analyst Daan Dtruyven, the bank found that “the US has driven all the growth in global oil supply over the past decade and the past year, and the Permian basin has driven all growth in US crude supply since early 2020.”

    US supply has also grown faster than expected. According to Goldman, US liquids supply is on track to exceed IEA expectations for the 13th consecutive year, except for 2016 and 2020. That said, the 2022 and 2023 forecast errors will likely be smaller than before the pandemic, and US total liquids supply has been roughly flat since June.

    Furthermore, the US remains the key short-term marginal oil producer, where flexible short-cycle private producers sit high on the global cost curve.

    So is the US falling in the overproduction trap that marked much of the 2010s and which led to the defaulting of dozens of junk debt-funded US energy producers, and sharply oil prices?

    According to Goldman, the answer is no as crude output growth in the Permian has slowed from 1mb/d in 2019 to 0.5mb/d year-over-year in September given the drop in the rig count, and the stabilizing well productivity trend.

    However, Permian output is still edging up because of rises in the number of drilled wells per rig and well length. In other words, the Permian new well output per rig is still trending higher because of:

    1. A rise in the number of drilled wells per rig given progress in multi-well pad technology
    2. A structural rise in the average lateral well length to 10,000 feet(Exhibit 9)
    3. A boost to output per rig through a composition effect arising from the larger drop in less productive private rigs (“high grading”). The output per rig in 2022 was nearly 2.5 times greater for public rigs than for private rigs since public firms account for over 60% of production, but under 40% of rigs (Exhibit 10).

    This is important because the lack of well productivity growth (which reflects an offset between deteriorating rock quality and improving technology) suggest that Permian output growth will slow further. In fact, the emergence of the Permian as the world’s key oil market variable may explain why Exxon recently purchased Pioneer: the new supergiant will have every opportunity to turn oil output in the US on (or off) as only it sees fit.

    Finally, a question that Wall Street would love answered: are US producers still capital disciplined?

    Goldman’s answer, “yes, three pieces of evidence show that the US upstream sector remains capital disciplined.”

    • First, US public independent firms are sticking to the moderate single digit growth targets they announced in 2020-2021. As Exhibit 11 shows, we expect crude production growth by the independent US E&Ps under GS coverage to slow from around 235kb/d (or 7%) in 2023 to 135kb/d (4%) in 2024, and just around 90kb/d (2.5%) in 2025. That companies continue to guide to slower growth despite the 2022H1 and the summer 2023 upswing in prices is the essence of capital discipline, and the main driver of the reduction in supply elasticity. These lower growth targets reflect investors’ scarring 2014-2020 experience when excessive growth depressed returns, and growing concerns about inventory quality.

    • Second, reinvestment rates—capex as a share of operating cash flow—of public producers remain in a 40-60% range, well below the historical average (Exhibit 12, left panel). The 2022-2023 pickup in capex reflects that the 2020-2021 levels were likely unsustainably low, and the boost to nominal capex measures from rapid cost inflation (Exhibit 12, right panel).
    • Third, broader capital allocation strategies of public E&Ps remain focused on limiting leverage and returning cash to shareholders (see Appendix Exhibit 18). To illustrate further, equity (rather than debt) is now typically used to fund acquisitions (as for ExxonMobil-Pioneer).

    Much more in the full Goldman report available to pro subscribers.

    Tyler Durden
    Tue, 10/31/2023 – 19:25

  • CA Funding LGBTQ+ Group Fighting Parental Notification
    CA Funding LGBTQ+ Group Fighting Parental Notification

    Authored by Susan Crabtree via RealClear Wire,

    Over the summer, when a Southern California school board opposed a new state-determined social studies curriculum that included a bio of slain gay rights activist Harvey Milk, Gov. Gavin Newsom issued a threatening tweet calling out the school board president by name.

    “This isn’t Texas or Florida. In the Golden State, our kids have the freedom to learn,” Newsom tweeted. “Congrats Mr. Komrosky you have our attention. Stay tuned.”

    Newsom followed up the vague warning with a far more tangible one. In a subsequent statement, the governor labeled the board’s reluctance to accept the curricula an act of “hate” and announced a $1.5 million fine for what he described as a “willful violation of the law.” He also threatened a lawsuit and a state Justice Department civil rights investigation. 

    Demagogues who whitewash history, censor books, and perpetuate prejudice must never succeed,” Newsom added. “Hate doesn’t belong in our classrooms, and because of the board’s majority’s antics, Temecula has a civil rights investigation to answer for.”

    Komrosky and other members of the school board for the Temecula Valley Unified School District were concerned about Milk’s well-documented relationship with a 16-year-old boy when he was in his 30s. He and other board members labeled Milk a “pedophile” and didn’t want his bio included in a supplemental curriculum for certain grade levels. 

    After Newsom’s threat of legal action, the school board began to waver. Komrosky called an emergency Friday meeting that stretched late into the night and partially backed down, agreeing to accept the textbooks but putting off a decision on the 4th-grade lessons on civil rights, including the gay rights movement, until the board and parents could review it further.

    The confrontation spurred weeks of headlines, with members of the LGBTQ+ community praising the governor’s actions while parents’ rights groups bemoaned the top-down threats from the highest level of state government. 

    The Democrat-controlled state legislature last month passed a bill that would legalize hefty state fines for school boards that reject state-determined curricula and other state policies. The state attorney general also sued a different school district in Chino for requiring parents to be notified when their children begin identifying as a different gender in California public schools.

    In mid-October, a judge sided, at least temporarily, with the state, and granted a preliminary injunction against the parent notification policy until he makes a final decision.

    Over the last several months, the school board clashes have fueled a series of protests and rallies at the state Capitol in which parents, students, pastors, and school board members have accused the Newsom administration and the state legislature of keeping secrets from parents and undermining their ability to care for and oversee their children.

    On the other side of the debate are Newsom, Attorney General Rob Bonta, state Superintendent of Public Instruction Tony Thurmond, and members of the LGBTQ+ community who argue that the school boards are trying to ban textbooks teaching diversity. They also assert that students in the state public elementary schools who are changing their gender have a right to privacy from their parents who could try to stop them from transitioning – or worse – use physical force as punishment for doing so.

    Amid the furor on both sides of the school board controversies, in late August, Newsom announced the latest round of grants to support an effort to combat hate crimes against transgender, Muslim, and black people after the attorney general’s office found a 20% increase in such crimes across the state in 2022.

    Among the taxpayer-funded grants is $630,000 to Equality California, an LGBTQ+ group fighting alongside Thurmond against school boards’ parental notification policies and their ability to object to diversity-oriented curricula.

    Over the last four years, the state has provided $400 million in federal grants to fund security measures for faith-based organizations and other nonprofits, and $196 million in grants to local organizations focused on preventing hate crimes and supporting survivors. The funding is taking place as the state is running a $31.5 billion budget deficit, up from $22.5 billion projected in January.

    The state recently awarded this year’s nearly $91.5 million in “Stop the Hate” grants to more than 170 community groups after at least two disturbing incidents that police say were motivated by anti-LGBTQ+ views and racism.

    In August, a San Bernardino store owner was murdered after an argument over a rainbow “pride” flag hanging outside her store, and an Oakland elementary school was evacuated after receiving a bomb threat that police said was racially motivated.

    Newsom last week also approved $10 million in funds to boost the presence of police at synagogues, mosques, and other places of worship as tensions have flared over the possibility of local violence stemming from the Israel-Hamas war.

    Allowing all places of worship to receive the funds to boost security appears even-handed and proactive at a time of rising tensions and threat levels.

    But the “Stop the Hate” grant to Equality California has sparked criticism from opponents that Newsom is inappropriately using state taxpayer funds to assist the top LBGTQ+ organization fighting parents over school board policies.

    According to the California Department of Social Services, which issued the grants, the grants “may” fund various services and programs, including those providing mental health and legal services for victims and their families. The website also says funds could go to prevention services, including “arts and cultural work, youth development, senior safety and escort programs, safety planning, training and cross-racial alliance work.”

    Equality California has been at the center of the fight for protecting children’s right to change genders without their parents’ knowledge in public schools across the state. The group has fiercely opposed the parental rights movement, labeling it homophobic and transphobic, and argues that notifying parents amounts to “forcibly outing” gender-transitioning children, which could lead to physical or emotional harm for these young people who already experience higher rates of depression, mental health, self-harm, and suicide than their peers.

    Equality California staff have attended school board meetings and appeared alongside Thurmond as he answers questions from the press. The group’s staffers were among pro-LGBTQ+ advocates whom a Chino school board removed from a meeting along with Thurmond after he spoke against a proposed district policy that would require schools to inform parents if their students were changing their pronouns or asking to use different gendered facilities.

    Because money is fungible, and the grant can help offset costs for the organization’s other work, parental rights advocates have argued that the grant is inappropriately boosting the group’s lobbying efforts opposing parental rights policies at local school boards.

    According to its 2021 tax filings with the IRS, the most recent available, Equality California Institute spent more than $400,000 on lobbying the state legislature and received nearly $6 million in revenue for that year alone.

    Carl DeMaio, a conservative radio talk show host in California who is gay, was the first to take issue with the Equality California grant in a post on his website, arguing that it was one of several designed to give a financial edge to left-leaning groups, such as Equality California, that actively engage in politics by endorsing candidates and other political activities.

    For instance, the group endorsed Thurmond’s reelection last year, lauding him for “personally intervening” in a school board fight in Chino and working “diligently alongside Equality California to counter the attacks against our trans and gender-nonconforming youth, in particular, and we could not ask for a better ally and champion for all California students.” It’s unclear if that endorsement came directly from the Institute or another part of Equality California’s nonprofit organization.

    There’s nothing wrong with these far-left groups engaging in political advocacy. It’s their First Amendment right, but not with my tax dollars,” DeMaio told RealClearPolitics. “This is the oldest scam going on in California politics right now. It’s the utilization of taxpayer money to subsidize Democrat and left-wing political organizations.”

    “If the National Rifle Association or the Cato Institute or the Heritage Foundation were receiving taxpayer money, the left and the media would be lighting their hair on fire, but here in California, you have political groups getting money from the government, and no one bats an eye,” he added.  

    Equality California spokesman Jorge Reyes Salinas says the Institute does not engage in political work, as DeMaio alleges, and stressed that the entire grant is devoted to supporting the state’s “Stop the Hate” program.

    “Equality California Institute’s Stop the Hate program is a tool to ensure that LGBTQ+ Californians know about and have access to culturally responsive resources on hate crimes and bystander intervention,” he said in a statement to RCP. “Through outreach and partnerships, this program aims to advance education on how to curb the sharp increase in anti-LGBTQ hate crimes in California.”

    Newsom’s office did not respond to RCP’s inquiries about the grant.

    Lance Christensen, a former state legislative staffer who ran for California superintendent of schools as a Republican last year, now serves as the vice president of education policy and government at the conservative California Policy Center. The Center is one of the main groups backing the parental rights policies in school boards across the state. 

    Christensen argues that the deck is heavily stacked against his side because parents are already fighting the deep-pocketed teacher unions who back many of the policies parents’ rights groups have tried to fight, including extended COVID school shutdowns that kept students in virtual learning longer than many other states.

    On top of that, the leaders of Equality California, which is more ideologically aligned with the Democrats who run the state, “feel like it’s their right and duty to extract money from taxpayers to help amplify their views,” he argued.

    The fact of the matter is, most parents are well aware of the positions these groups have,” he said. “They just aren’t aware that their tax dollars are going to subsidize these activities.” 

    Equality California has backed a raft of pro-LGBTQ+ bills that Newsom signed into law in late September, including several measures the governor’s office has said are designed to “better support vulnerable youth.” Among the new laws is one that would require courts to keep all petitions for a change of gender identity in public documents, including those filed by minors, confidential. 

    The group also strongly backed the Transgender, Gender-Diverse and Intersex Youth Empowerment Act, which would have required judges to consider whether parents have affirmed the gender identity of their children in custody disputes.

    While Newsom said he shares the commitment to advance transgender rights, he vetoed that bill in mid-September, arguing that it would inappropriately change legal standards for another branch of government.

    Susan Crabtree is RealClearPolitics’ White House/national political correspondent.

    Tyler Durden
    Tue, 10/31/2023 – 19:05

  • Real Estate Brokerages Zillow, RedFin Tumble After Jury Finds Realtors Conspired To Keep Commissions High
    Real Estate Brokerages Zillow, RedFin Tumble After Jury Finds Realtors Conspired To Keep Commissions High

    Real estate brokerages such as Zillow, RedFin, ReMex and others tumbled after a federal jury found the National Association of Realtors and large residential brokerages such as HomeServices of America and Keller Williams, liable for about $1.8 billion in damages after determining they conspired to keep commissions for home sales artificially high.

    Under antitrust rules, the presiding judge could triple the damages verdict, which would total more than $5 billion. The plaintiffs also have asked the judge to order changes to how the industry operates.

    The verdict came in the first of two major antitrust lawsuits that target decades-old industry practices and argue that unlawful industry practices have left consumers unable to lower their costs even though internet-era innovations have allowed many buyers to find homes themselves online. The two-week trial involved claims by home sellers in several Midwestern states; they sought to drive down commissions and change the way agents are compensated.

    Two brokerages, HomeServices of America and Keller Williams Realty, were also defendants in the case. Two others, Anywhere Real Estate and Re/Max Holdings, settled before trial and agreed to pay almost $140 million combined.

    Announced in a packed Kansas City courtroom, the verdict came after just a few hours of jury deliberations. The case was brought by home sellers in several Midwestern states. Their lawyers hugged and shook hands as the verdict was announced.

    According to the WSJ, the verdict “could lead to industrywide upheaval by changing decades-old rules that have helped lock in commission rates even as home prices have skyrocketed—which has allowed real-estate agents to collect ever-larger sums.”

    It comes in the first of two antitrust lawsuits arguing that unlawful industry practices have left consumers unable to lower their costs even though internet-era innovations have allowed many buyers to find homes themselves online.

    For several years NAR has been fending off accusations by US antitrust officials and private litigants that it has conspired to keep home-sale costs high in the face of major technological upheavals. This verdict is by far the group’s biggest setback yet. An NAR spokesman said, “This matter is not close to being final as we will appeal the jury’s verdict.”

    HomeServices of America, a subsidiary of Warren Buffett’s Berkshire Hathaway, said it intends to appeal. “Today’s decision means that buyers will face even more obstacles in an already challenging real estate market and sellers will have a harder time realizing the value of their homes,” a company spokeswoman said. Keller Williams said it is considering an appeal.

    Under the current system, sellers pay their own agent a commission — typically 5% to 6% of a home’s selling price — which is in turn shared with the buyer’s agent. Over the course of the trial, plaintiffs’ attorneys argued this model has suppressed competition by making it difficult for buyers and sellers to negotiate for lower rates.

    “NAR and corporate real-estate companies have had a stranglehold on real-estate commissions for too long,” plaintiffs’ lawyer Michael Ketchmark said outside of the courtroom.

    The news sent real-estate brokerage stocks tumbling: Redfin and Zillow both plunged as much as 10% before recovering some losses. Traditiona broker Re/Max was down 3%.

    Tyler Durden
    Tue, 10/31/2023 – 18:45

  • Bachelors Of Advocacy: The Rise Of Activism Over Academics In US Higher Education
    Bachelors Of Advocacy: The Rise Of Activism Over Academics In US Higher Education

    Authored by Jonathan Turley,

    Below is my column in The Hill on the rise of advocacy courses and degrees in higher education. Activism has always been a valued part of our colleges and universities. Indeed, many departments have long incorporated advocacy subjects in their course of study, including in law schools. My concern is the degree to which advocacy is now overwhelming academics in some of these programs.

    It is often hard to tell the difference between advocacy groups and advocacy programs in these universities.

    For some schools, a new B.A. model – a Bachelors of Advocacy – is emerging in higher education.

    Here is the column:

    Field trip for an extra 5 points.” The offer to students at the University of California-Berkeley sounded like a typical offer for students to go to a special exhibit at a museum or lecture at an institute. The “field trip” referenced by graduate assistant Victoria Huynh was joining a protest “against settler-colonial occupation of Gaza.”

    This extra credit offer is all too typical of higher education today, where advocacy is now being taught as if it were a course of study. After an outcry, the school solved the problem by ordering “a number of options for extra credit, not just one.”

    Many advocacy-based classes have course descriptions that sound analytical and clinical. The UC Davis course “Asian American Communities and Race Relations,” for instance, states that it covers “race relations and the commonalities and differences between Asian Americans and other race and ethnic groups.” However, the assignments and lectures often reflect a political viewpoint that students are expected to mimic if they want to excel in the class.

    In this course, a screen shot showed that the class would discuss “Palestinian history in relation to class concepts like colonialism, imperialism, and Third World solidarity.” It is clear enough that “the solidarity” cannot extend to Israel.

    Advocacy has increasingly displaced academics in higher education. Activism now permeates higher education as social justice becomes the touchstone for many departments. Today protests rather than Plato are more likely to be the concentration of many students.

    Even journalism students are now sometimes told to drop “objectivity” and “leave neutrality behind.Former executive editor for The Washington Post Leonard Downie Jr. explained that “pursuing objectivity can lead to false balance or misleading ‘bothsidesism’ in covering stories about race, the treatment of women, LGBTQ+ rights, income inequality, climate change and many other subjects.”

    Advocacy has long been part of graduate programs like law and social work, where students are trained to represent the interests of clients or other individuals. But now, advocacy and activism itself is being offered as a general course for students in place of education. Where protests were once defiant demonstrations held in the university yard, they are now a course of study in classrooms led by academic activists.

    For example, Arizona State University offers a BA program entirely on “community advocacy and social policy” that focuses on “historically under-served individuals, families and communities.” Students “complete courses in two core areas: diversity and oppressed populations and social issues and interventions.”

    Many schools offer “advocacy and social justice studies.” At the University of Massachusetts at Amherst, students are offered the opportunity to “study social justice with distinguished instructors from a wide range of academic departments, from Afro-American Studies to Women, Gender, Sexuality Studies.”

    Camden County College offers a diversity and social justice degree based on the advocacy work of the Black Lives Matter movement and the COVID-19 pandemic, which “revealed the depth of social inequality and its life-or-death consequences.” Others offer “a certificate of proficiency in social justice and an A.S. degree in Human Services, Social Justice Advocacy.”

    These courses offer far left-faculty platforms to proselytize and politicize. It is often confined to one side of the political spectrum and occurs now on every level of our educational system. In academic departments, future primary and secondary teachers are taught that “teaching is a political act” that allows them to instill political and social values in their young pupils. Those students can then attend college and get degrees in activism and advocacy.

    In New York,  1.1 million students were excused by the Department of Education to leave their classes to march against climate change. It seems doubtful that the same accommodation would be allowed for countervailing conservative causes like pro-life marches or demonstrations in favor of gun rights.

    These courses dovetail with faculties that have moved radically to the left, with many faculty using their courses to espouse political viewpoints more than educate. The clear message to students is that they are expected to express the same views in their own analysis.

    One professor erased any pretense and directly required students to contribute to her advocacy group as part of their training. In the meantime, conservative faculty find themselves censored or suspended for engaging in unpopular speech or attending controversial rallies.

    Universities as a whole have largely purged their ranks of Republicans and conservatives over the last few decades. A new survey conducted by the Harvard Crimson shows that more than three-quarters of Harvard Arts and Sciences and School of Engineering and Applied Sciences faculty respondents identify as “liberal” or “very liberal.” Only 2.5 percent identified as “conservative,” and only 0.4 percent as “very conservative.”

    Another study by Georgetown University’s Kevin Tobia and MIT’s Eric Martinez found that only 9 percent of law school professors identify as conservative at the top 50 law schools.

    In these departments with advocacy and social justice components, diversity of thought runs from the left to the far left.

    Some of these faculty advocates can teach by example. At the University of California, Santa Barbara, feminist studies associate professor Mireille Miller-Young physically assaulted pro-life advocates and tore down their display. She later pleaded guilty to criminal assault, but the university refused to fire or discipline her.

    Other professors continue to engage in violence or destruction in front of students in order to block pro-life or other views from being expressed on campuses.

    The same blind rage was shown after the massacre of Israelis by Hamas this month as faculty rallied students to denounce Israel. UC Davis Professor (and undergraduate adviser) Jemma Decristo posted social media threats against the faculty and the families of those supporting Israel as possible targets. Decristo wrote: “one group of ppl we have easy access to in the U.S. is all these zionist journalists who spread propaganda and misinformation…they have houses w addresses, kids in school, they can fear their bosses, but they should fear us more.” This threatening language was accompanied by pictures of a knife and an axe, followed by three drops of blood.

    The university eventually denounced Decristo’s violent, threatening comments, but it had no prior qualms about the professor teaching American studies to UC Davis students. She is part of the radical chic — the far left professors who have populated departments for years.

    The emphasis on advocacy at the expense of education has also contributed to the increasing hostility toward opposing views on campus. These professors and students often show little tolerance for others’ views and “advocate” by canceling or silencing other views as “harmful.”

    Many of us encourage political activism and engagement of our students. They need to bring their passion and voices to the debates today over issues ranging from abortion to the environment to wars.

    We have long benefited from intellectual activists in our country, but they were intellectuals first and activists second. They were thought-leaders who used classic education to advance societal change.

    As jobs and markets become more competitive, we are not doing these students any favors as we crank out thousands with few skills beyond staging demonstrations.

    Tyler Durden
    Tue, 10/31/2023 – 18:25

  • Reports Say China Scrubbed Israel From Online Maps
    Reports Say China Scrubbed Israel From Online Maps

    China’s scathing criticisms of Israel’s military campaign in Gaza, where the death toll has surpassed 8,500 mostly civilians, have grown of late – but this week escalated to a new precedent. 

    The Wall Street Journal has confirmed internet users’ deepening suspicions that the country of Israel has disappeared from several online maps after the ‘mistake’ began to gain increased attention. “Internet users in China are expressing bewilderment that the name Israel doesn’t appear on leading online digital maps from Baidu and Alibaba, an ambiguity that matches Beijing’s vague diplomacy in the region and contrasts with its attentiveness to maps generally,” WSJ writes Tuesday. But some pundits have said the claim is misleading, stressing that many Chinese maps don’t label “disputed areas” by default.  

    The internationally recognized borders of the Israeli state are also missing. The report says that Israel may have gone ‘missing’ on the popular maps since the start of the Oct.7 conflict and Israel’s subsequent bombing campaign on Gaza. 

    But as WSJ also points out, neither major Chinese company has publicly acknowledged the missing country information:

    The same is true with online maps produced by Alibaba’s Amap, where even small nations like Luxembourg are clearly marked. Neither company responded to questions on Monday. It is unclear whether the development is new, though it has been discussed by Chinese internet users since war broke out.

    China’s government has over the years cried foul and levied fines over maps published elsewhere online, such as on hotel websites, for failing to strictly adhere to Beijing’s territorial claims, like leaving off a nine-dotted line stretching around the South China Sea that isn’t internationally recognized.

    Indeed this could be a subtle game of ‘retaliation’ for when Western sources publish maps which Beijing vehemently disagrees with, such as depicting Taiwan as independent from the Chinese mainland.

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

    Additionally, China has increasingly aligned its foreign policy with the Global South in recent months, and the Gaza crisis is a further demonstration of this trend.

    In statements from the foreign ministry, Chinese officials have consistently highlighted Israel’s bombing of Gazan civilians, instead of focusing on denunciations of the Oct.7 terror attack by Hamas (as the US and much of the West has done). “Every country has the right to self-defense, but every country should abide by international humanitarian law and protect the safety of civilians,” FM Wang Yi told his Israeli counterpart Eli Cohen a week ago.

    And then there’s this provocative tweet from the Chinese embassy in France, rejecting Western claims of “genocide” against Uyghurs in Xinjiang, while highlighting that Gaza lies in ruins

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

    “As long as [any resolution] is conducive to peace, China will firmly support it; as long as [any resolution] is conducive to Palestinian-Israeli reconciliation, China will do its best,” Wang had said. It will be interesting to see what becomes of the clearly deteriorating Israel-China relations by the end of this current crisis. 

    Tyler Durden
    Tue, 10/31/2023 – 18:05

  • Sen. Josh Hawley To Introduce Bill Reversing Citizens United
    Sen. Josh Hawley To Introduce Bill Reversing Citizens United

    Authored by Philip Wegmann via RealClearPolitics.com,

    More than a decade ago, President Obama scolded the Supreme Court for reversing “a century of law” and opening “the floodgates for special interest” to “spend without limit in our elections.”

    It was during the State of the Union, and while the former president qualified his criticism by offering “all due deference to the separation of powers,” Justice Samuel Alito was caught on camera muttering an objection.

    Seated in the front of the House of Representatives, Alito seemed to say, “Not true.”

    Meanwhile, Chief Justice John Roberts, who had employed a young lawyer from Missouri just two years prior, didn’t move a muscle.

    Sen. Josh Hawley told RealClearPolitics that the episode “predates me,” but on the substance of the question, the senior Republican senator from Missouri, the same young lawyer who once clerked for Roberts on the high court, sides with Obama, not the conservative justices.

    Albeit for very different reasons.

    “I am an originalist,” he said in a Monday interview, “and I don’t think you can make an originalist case for business corporations being treated like individuals when it comes to the right to political speech.”

    Thirteen years removed from that exchange between Obama and the justices, Hawley plans to introduce legislation that would gut Citizens United v. FEC, RCP is first to report.

    “My goal is to get corporate money out of our politics,” he said.

    His aim is to stop “corporate influence” from “controlling our elections.”

    This kind of rhetoric is not unusual. But it usually comes from Democrats.

    President Biden pledged to overturn Citizens United and bring to heal the Super PACs that shower politicians with the kind of unlimited anonymous donations known colloquially as “dark money.” His closest ally in this effort: Progressive Socialist Sen. Bernie Sanders, who blames the decision for turning America into “an oligarchy” where billionaires “buy elections.”

    And now this coalition includes at least one Republican. Hawley blames Citizens United for giving corporations free rein to “sink their teeth” into the American political process.

    The Hawley legislation would ban publicly traded corporations from making independent expenditures and giving to Super PACs while prohibiting them from cutting political ads or engaging in “other electioneering communications.” Ironically, however, it would not stop the conservative group that upended modern election law. Citizens United is itself a non-profit and, therefore, wouldn’t be affected.

    The bill likely has little chance of making it to the president’s desk. Similar proposals have died in committee. All the same, the legislation represents the latest fissure between the Grand Old Party and the corporations. As the Republican realignment continues, on this issue, Hawley hammers the wedge.

    “Let’s get one thing straight,” Hawley bellowed this summer, “Corporations are not people.”

    The crowd, this one gathered in Washington for the social conservative Faith and Freedom Coalition summit, barely stirred.

    But then they erupted when the populist senator continued, “I’ve got news for these woke corporations: We are not going to surrender this nation to the cultural Marxists in the C-suite.”

    Would Hawley still seek to muzzle corporations if the content of their speech was different, though? “Well, actions do have consequences,” the senator replied.

    Bad trade deals, monopolies over everyday pharmaceuticals, and offshore industries – Hawley blames all of this on Wall Street getting involved in politics, saying that politically connected corporations “have been in favor of almost everything that has been devastating for us.” Beyond economics, he added, “what’s new in the last two or three years” is those same corporations “now want to dictate voting laws in the states” and “now want to dictate rules on biological men playing women’s sports.”

    For example, Coca-Cola and Delta Airlines, two of the biggest employers in Georgia, publicly oppose that state’s efforts to tighten voter registration requirements in the wake of the 2020 election. Another example is the dark money donors who provided $145 million to pro-Biden groups that year, helping pave his way to the White House and dwarfing the $28.4 million spent on behalf of Donald Trump.

    “That is not a reason in-and-of-itself to get the Constitution right,” Hawley cautions, however. While the senator insists that Democrats benefit disproportionately from dark money, he argued that “this isn’t a game that is good for anybody” and “most importantly, the voters don’t benefit from it.”

    This is consistent with the general disposition of the senator who once wrote an adoring biography of Teddy Roosevelt. It is also an evolution from a politician who welcomed the endorsement and cashed the checks of Citizens United during his first campaign. Hawley does not dispute the development.

    A closer examination of the history, he said, “looking back at how the Founders thought of corporations” reveals that the earliest Americans “were deeply skeptical of the corporate form.” On the jurisprudence question, he added, “I just don’t think that history supports the outcome that the Court ultimately got to there.”

    More recent history can be found in the conservative opinion pages of the Wall Street Journal. Reflecting the view of that editorial board, Bradley Smith, a former chairman of the Federal Election Commission, celebrated the anniversary of Citizens United in 2020, writing that “the ruling has empowered small-dollar donors and political outsiders, not corporations.” The donor who writes a check from the kitchen table, the former FEC chair argued, is now king in American politics, not the Super PAC.

    Hawley suggests that those who doubt the power of corporate dollars in politics visit Capitol Hill. “I’ve seen it with my own eyes,” he said before pointing to TikTok, the Chinese-owned social media company.

    “A year ago, we were talking about a nationwide ban on TikTok. I was able to get one passed at the federal level last December,” he said.

    “Today, it is difficult to get even my most ardent anti-tech partners to talk about this because TikTok has gone out and spent incredible sums of money to get influence on both sides of the aisle.”

    According to federal disclosures, TikTok and its parent company spent more than $13 million on lobbying the federal government in the last four years. A spokesman for the company declined to address this when RCP requested comment.

    Increasingly, Hawley is more likely to echo T.R. than Ronald Reagan. He notes how Roosevelt warned against “the malefactors of great wealth” and speaks admirably of his wars with the railroads. The senator also points to scandals of the past, like the Teapot Dome Scandal, as a prologue for modern malfeasance.

    “Not a lot has changed in the last century. They would do that today, if they could get away with it,” Hawley said of disparate corporate actors from Silicon Valley to Wall Street without naming anyone in particular.

    “And who knows,” he added, “maybe they are.”

    Republicans who once felt at ease among corporate power are increasingly skeptical. Former House Speaker Kevin McCarthy publicly divorced the Chamber of Commerce this year. Ohio Sen. JD Vance is currently at war with the railroads over safety regulations. Businessman-turned-presidential-candidate Vivek Ramaswamy seemed to rebuke the ghost of Reagan during the August primary debate.

    And last month, Hawley landed well to the left of the White House, but only slightly to the right of the likes of Sanders and Rep. Alexandria Ocasio-Cortez, when he proposed capping the annual percentage rate of credit cards at 18%.

    The Hawley project then can perhaps be best described as an effort to export traditional conservative skepticism of big government to the realm of big corporations. “What we find, and what lawsuits like the Missouri v. Biden case exposed, is that big corporations and big government work hand in hand,” he said referencing the federal case that found the White House lobbied social media companies to remove content critical of the administration.

    “I would just say to my conservative friends, listen, there is no reason we should want to empower these mega-corporations, who are already in bed and colluding with the government, and give them control over our elections and over our speech,” Hawley said.

    It remains to be seen whether Republicans will listen, including Minority Leader Mitch McConnell. He celebrated the initial action by the Supreme Court.

    “For too long, some in this country have been deprived of full participation in the political process,” McConnell said in a statement when the conservative court handed down Citizens United, celebrating the decision as “an important step” in “restoring the First Amendment rights of these groups.”

    A decade later, McConnell added, “My warning to corporate America is to stay out of politics.”

    As the Washington Post reported at the time, the Republican leader included a qualification during a local news conference.

    “I’m not talking about political contributions,” he said.

    Tyler Durden
    Tue, 10/31/2023 – 17:45

Digest powered by RSS Digest

Today’s News 31st October 2023

  • Freak Accident? Hockey Player Sidekicks Opponent In The Throat And Kills Him During Game
    Freak Accident? Hockey Player Sidekicks Opponent In The Throat And Kills Him During Game

    Controversy has erupted over the death of American hockey player Adam Johnson, who was struck in the neck and killed by another player’s ice skate in the second period of a Challenge Cup match against the Sheffield Steelers on Saturday in Sheffield, England.  Fans and players alike are divided over whether or not Canadian player Matt Petgrave deliberately used a sidekick maneuver, stabbing Johnson in the throat with his ice skate.  

    South Yorkshire Police are now investigating the gruesome incident, which left Matt Johnson’s blood all over the Utilita Arena.  Below is the game footage at normal speed:

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

    The following footage shows Matt Petgrave’s kick in slow motion:

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

    Below is the now deceased Adam Johnson:

    And Matt Petgrave…

    The mainstream media is already resoundingly describing the incident as a “freak accident.”  In fact, many news outlets are refusing to use Matt Petgrave’s name or show his face in their coverage.  However, NHL rules (along with leagues around the world) do not allow for players to kick a hockey puck in the air, and they are strict about kicking other players.  Kicking results in an immediate match penalty of the player along with ejection from the game pending a review of their player status.  Hockey players consistently train to avoid major penalties, which is why these kinds of “accidents” are incredibly rare. 

    There are only 23 reported incidents of hockey players dying on the ice worldwide since 1905.  Most of these deaths occurred before safety rules and equipment became standard.  The NHL only has one reported on ice death in its history.

    Tyler Durden
    Tue, 10/31/2023 – 02:45

  • Escobar: Iran-Russia Set A Western Trap In Palestine
    Escobar: Iran-Russia Set A Western Trap In Palestine

    Authored by Pepe Escobar via The Cradle,

    The only country that could possibly distract the west from Ukraine is Israel. But the US and its allies are walking into an existential trap if they think a West Asian victory will be more easily won than a European one…

    The Russia-Iran strategic partnership – with China in the wings – is laying an elaborate, Sun Tzu-tinged trap for the Hegemon in West Asia. 

    Apart from Israel, there is no entity on the planet capable of switching the focus, in a flash, away from the west’s spectacular debacle in Ukraine. 

    The warmongers in charge of US foreign policy, not exactly Bismarckian stalwarts, believe that if Project Ukraine is unattainable, Project Final Solution in Palestine could instead be a – ethnic cleansing – cakewalk. 

    A more plausible scenario, though is that Iran-Russia – and the new “axis of evil” Russia-China-Iran – have all it takes to drag the Hegemon into a second quagmire. It’s all about using the enemy’s own, discombobulated flip-flapping to unbalance him and disorient him to oblivion.

    The White House’s wishful thinking that the Forever Wars in Ukraine and Israel are inscribed in the same lofty “democracy” drive and essential to US national interests, has already backfired – even among American public opinion. 

    That does not prevent cries and whispers along the Beltway revealing Israel-allied US neocons increasing the tempo to provoke Iran – via a proverbial false flag that would lead to an American attack. That Armageddon scenario neatly fits Israeli Prime Minister Benjamin Netanyahu’s biblical psychopathy

    Vassals would be forced to meekly comply. NATO heads of state have made a beeline to visit Israel to demonstrate their unconditional support for Tel Aviv – including Greece’s Kyriakos Mitsotakis, Italy’s Giorgia Meloni, Britain’s Rishi Sunak, Germany’s Olaf Scholz, the senile lodger at the White House, and France’s Emmanuel Macron. 

    Avenging the Arab “century of humiliation” 

    So far, Lebanese resistance movement Hezbollah has shown extraordinary restraint by not taking any bait. Hezbollah supports the Palestinian resistance as a whole – and until a few years back, had serious issues with Hamas, with which it clashed in Syria. Hamas, incidentally, while partially funded by Iran, is not run by Iran. As much as Tehran supports the Palestinian cause, Palestinian resistance groups make their own decisions. 

    The big news is that all these issues are now dissolving. Both Hamas and Palestinian Islamic Jihad (PIJ) went to Lebanon to visit Hezbollah Secretary-General Hassan Nasrallah in person this week. That spells out unity of purpose – or what the region’s Axis of Resistance calls the “Unity of Fronts.”   

    Even more eye-opening was Hamas’ visit to Moscow this week, which was met with impotent Israeli fury. The Hamas delegation was headed by a member of its Politburo, Abu Marzouk. Iranian Deputy Foreign Minister Ali Bagheri came especially from Tehran and met two of Russian Foreign Minister Lavrov’s key deputies, Sergei Ryabkov and Mikhail Galuzin.  

    That spells out Hamas, Iran, and Russia negotiating at the same table. 

    Hamas has called on the millions of Palestinians in the diaspora, as well as the whole Arab world and all lands of Islam, to unite. Slowly but surely, a pattern may be discerned: could the Arab world – and great swathes of Islam – be on the verge of significantly uniting to avenge their own “century of humiliation” – much as the Chinese did after WWII with Mao Zedong and Deng Xiaoping? 

    Beijing, via its sophisticated diplomacy, is certainly hinting at it to key players, even before the ground-breaking, Russia-China brokered Iran-Saudi rapprochement was struck earlier this year. 

    That by itself won’t thwart the perpetual US neocon obsession to bomb critical infrastructure in Iran. Worth less than zero when it comes to military science, these neocons ignore how Iranian retaliation would – accurately – target each and every US base in Iraq and Syria, with the Persian Gulf an open case. 

    Peerless Russian military analyst Andrei Martyanov has shown what could happen to those expensive American iron bathtubs in the Eastern Mediterranean in case of an Israeli-threatened attack on Iran.   

    Moreover, there are at least 1,000 US troops in northern Syria stealing the country’s oil – which would also become an instant target. 

    Ali Fadavi, IRGC’s deputy commander-in-chief, cut to the chase: “We have technologies in the military field that no one knows about, and the Americans will know about them when we use them.”

    Cue to Iranian hypersonic Fattah missiles – cousins to the Khinzal and the DF-27 – traveling at Mach 15, and able to reach any target in Israel in 400 seconds.  

    And add to it sophisticated Russian electronic warfare (EW). As confirmed in Moscow six months ago, when it comes to military interconnection, the Iranians told the Russians at the same table, “whatever you need, just ask.” The same applies vice-versa, because the mutual enemy is one and the same.

    It’s all about the Strait of Hormuz 

    The heart of the matter in any Russian-Iran strategy is the Strait of Hormuz, through which transits at least 20 percent of the world’s oil (nearly 17 million barrels a day) plus 18 percent of liquified natural gas (LNG), which amounts to at least 3.5 billion cubic feet a day.  

    Iran is able to block the Strait of Hormuz in a flash. For starters, that would be some sort of poetic justice retribution for Israel aiming to gobble up, illegally, all the multibillion-dollar natural gas discovered offshore Gaza: this is, incidentally, one of the absolutely key reasons for the ethnic cleansing of Palestine. 

    Yet the real deal will be to bring down the Wall Street-engineered $618 trillion derivative structure, as confirmed for years by analysts at Goldman Sachs and JP Morgan, as well as independent Persian Gulf energy traders. 

    So when push comes to shove – and way beyond the defense of Palestine and in a scenario of Total War – not only Russia-Iran but key players of the Arab world about to become members of BRICS 11 – such as Saudi Arabia and the UAE – do have what it takes to bring down the US financial system anytime they choose.  

    As an old school Deep State higher up, now in business in Central Europe, stresses:

    “The Islamic nations have the economic advantage. They can blow up the international financial system by cutting off the oil. They do not have to fire a single shot. Iran and Saudi Arabia are allying together. The 2008 crisis took 29 trillion dollars to solve but this one, should it happen, could not be solved even with 100 trillion dollars of fiat instruments.”

    As Persian Gulf traders told me, one possible scenario is OPEC starting to sanction Europe, first from Kuwait and then spreading from one OPEC country to another and to all countries that are treating the Muslim world as enemies and war fodder. 

    Iraqi Prime Minister Mohammed Shia al-Sudani has already warned that oil to western markets could be put off because of what Israel is perpetrating in Gaza. Iranian Foreign Minister Hossein Amir-Abdollahian has already called, on the record, for a total oil and gas embargo by Islamic countries against nations – essentially NATO vassals – that support Israel.

    So Christian Zionists in the US allied with neocon asset Netanyahu threatening to attack Iran have the potential to pull down the entire world financial system.

    Forever War on Syria, remixed  

    Under the current volcano, the Russia-China strategic partnership has been extremely cautious. To the outside world, their mutual official position is to refuse to side with either Palestine or Israel; call for a ceasefire on humanitarian grounds; call for a two-state solution; and respect international law. All their initiatives at the UN have been duly sabotaged by the Hegemon. 

    As it stands, Washington has refused the green light for the Israeli ground invasion of Gaza. The main reason is the immediate US priority: buy some time to expand the war to Syria, “accused” of being the key transit point for Iranian weapons to Hezbollah. That also doubles as re-opening the same old war front against Russia. 

    There are no illusions in Moscow. The intel apparatus knows well that Israeli Mossad agents have been advising Kiev while Tel Aviv was supplying weapons to Ukraine under serious US pressure.  That infuriated the siloviki, and may have constituted a fatal Israeli mistake.

    The neocons, for their part, never stop. They are advancing a parallel threat: if Hezbollah attacks Israel with something else than a few sparse rockets – and that simply won’t happen – the Hmeimim Russian Air Base in Latakia will be “eliminated” as a “warning” to Iran.

    This does not even qualify as children playing in the sandbox. After the serial Israeli attacks on the civilian Damascus and Aleppo airports, Moscow did not even blink before offering its Hmeimim facilities to Syria – complete with clearance for Iran’s Islamic Revolutionary Guard Corps (IRGC) cargo flights, according to some Russian intel sources. Netanyahu will not exactly harbor a death wish by bombing a fully A2/AD (anti-access/area denial) Russian Air Base.  

    Moscow also clearly sees what those expensive American iron bathtubs in the Eastern Mediterranean might be up to. The response has been swift: Mig-31Ks are patrolling neutral air space over the Black Sea 24/7, equipped with hypersonic Khinzals, which would take only six minutes to visit the Mediterranean.   

    Amidst all this neocon-drenched madness, with the Pentagon deploying a formidable array of weaponry plus “undisclosed” assets to the Eastern Mediterranean, whether the target is Hezbollah, Syria, Iran, Russia, or all of the above, both China and North Korea – part of the new American-concocted “axis of evil” – have indicated they will not be mere bystanders. 

    The Chinese Navy is for all practical purposes shielding Iran from a distance. Yet even more forceful has been a statement by Premier Li Qiang – something unusually blunt and rare in Chinese diplomacy: 

    “China will continue to firmly support Iran in safeguarding its national sovereignty, territorial integrity, and national dignity, and will strongly oppose any external forces interfering in Iran’s internal affairs.”

    Never forget that China and Iran are linked by a comprehensive strategic partnership. Meanwhile, Russian Premier Mikhail Mishustin has reinforced the Russia-Iran strategic partnership in a meeting with Iran’s First Vice-President Mohammad Mokhber.

    Remember those rice eaters from Korea 

    Pro-Iran militias across the Axis of Resistance, are keeping a carefully tempered degree of confrontation against Israel, close to guerrilla hit-and-run. They won’t be engaged in massive attacks yet. But all bets are off if Israel invades Gaza. It’s clear the Arab world, for all its massive internal contradictions, will simply not tolerate the civilian massacre. 

    Bluntly, at the current incendiary juncture, the Hegemon has found the offramp from its Project Ukraine humiliation. They erroneously believe that the same old Forever War rekindled in West Asia can be “modulated” at will. And if two wars turn into an immense political albatross, as they will, what else is new? They will simply start a new war in the “Indo-Pacific.” 

    None of that fools Russia-Iran and their ice-cold monitoring of the flipping and flapping Hegemon every step of the way. It’s enlightening to remember what Malcolm X was already predicting in 1964:

    “Some rice eaters ran him out of Korea. Yes, they ran him out of Korea. Rice eaters with nothing but gym shoes, and a rifle, and a bowl of rice took him and his tanks and his napalm, and all that other action he’s supposed to have and ran him across the Yalu. Why? Cause the day that he can win on the ground has passed.” 

    Tyler Durden
    Tue, 10/31/2023 – 02:00

  • Decoding The Taxil Hoax: Part 2
    Decoding The Taxil Hoax: Part 2

    Authored by ‘Mr. E’ via bombthrower.com,

    Follow Mr. E on Substack and Twitter!

    In the previous post we discovered that the true identity of Lucifer is Aphrodite, and what’s considered ‘Satanism’ or ‘Luciferian’ are the more extreme forms of worship of this goddess. Now it’s time to explore just what that is, how long it’s been going on, and what it means for us in the present.

    For decades now, the world has been confronted with horrifying stories of ritual child sexual abuse, murder, cannibalism, elite pedophilia, and more. In the last decade we’ve had transgenderism shoved in our faces from every direction and made into a protected and privileged class. In some cases, disobeying the ludicrous demands of trans activists is now being met with arrest and police harassment. Groups are even lobbying to pass bills making the misgendering of trans people a crime punishable by massive fines and even jailtime.

    What does ritual abuse and the exaltation of transgenderism have in common, and what do either of these things have to do with the goddess of lust and fertility? In this report you’re going to find out the ugly, depraved truth behind the Canaanites, a group of people who have worked for millennia to keep humanity in chains and have been far more successful than most will ever admit.

    Let’s examine the practices of goddess worship, region by region, and see for ourselves what went on in ancient times, and what apparently continues today.

    Mediterranean

    In Greece, several more themes emerged in the worship of Aphrodite and Adonis. For instance, it appears Adonis was bi-sexual, loving not only Aphrodite and Persephone, but also Apollo. He played the typical male role when with females and would adopt female behaviors when with males.

    This crossing of gender roles gets even more extreme with Aphrodite. In Cyprus, an island with both Greeks and Phoenicians living on it, a version of Aphrodite emerged called Aphroditus. This was Aprhodite in every sense except that ‘it’ had a penis and sometimes a beard! Later this god (dess?) became Hermaphroditus, a child she produced with Hermes, another of her lovers. Hermaphroditus was born a male but was fused with Salmacis, a nymph who lusted after him and wanted to be united forever. Another child Aphrodite produced with Hermes was Priapus, a male with an oversized and permanent erection. In the story of Tiresias, we find Aphrodite exhibiting the power to change mortals into the opposite sex.

    While in Greece, the worship of Aphrodite never got more extreme than orgies and some doves being sacrificed in her name, things get a little more interesting in ancient Egypt. Their analog for the goddess was Hathor, and it appears her worship included the occasional orgy on drugs. The Turin Erotic Papyrus illustrates one of these events; people engaged in all sorts of sex acts while under the influence of the blue water lily. This lily contains an alkaloid that metabolizes in to apomorphine, a drug used today to treat erectile dysfunction and can cause persistent erections (priapism) in men. It also induces a euphoric state, with heightened sociability.

    The papyrus dates to the 20th dynasty of Egypt, but use of the blue water lily appears to have been popularized in the 18th dynasty. King Tut was buried with a great many of these, and it just so happens that this is the dynasty that took over Egypt right after the Hyksos expulsion. The Hyksos were a tribe of Canaanites that conquered Lower Egypt and possibly introduced these drugged out orgies during their rule from the 15th to 17th dynasties. The Egyptians described them as “bloodthirsty”, and we will soon see why. After being introduced to the lily and its psychoactive powers, its use spread throughout Canaan and even into Mesopotamia.

    Speaking of Canaan, it’s appropriate now to look at these people and just what they got up to in their worship of the goddess, because it’s quite relevant to what we see in elite society today. As already mentioned, their name for the goddess of lust and sexuality was Astarte, in Northern Syria it was Atargatis, and in Carthage it was Tanit. It’s in the Canaanite culture that we find ritual child sacrifice, a practice that extended to their colonies in Carthage and throughout the Mediterranean. This was done on an almost industrial scale, with special cemeteries called tophets being discovered with tens of thousands of urns filled with the burned remains of murdered infants and sometimes the animals that were sacrificed alongside them.

    They practiced ritual rape as well. When girls reached a certain age, they were taken to the temple of Astarte to be raped by a man who paid the temple handsomely for that privilege. After this rite of passage, the girl was told she had been blessed, and was sent back home.

    Also of importance was their celebration of transgenderism. The priesthoods of these goddesses, in order to reach the highest levels of their order, would ritually castrate themselves, dress as women, and take on women’s tasks.

    These depraved practices were not the exclusive domain of the Canaanites, either. The worship of this goddess is found further eastwards.

    Mesopotamia

    Arriving in the Fertile Crescent, we find that this goddess was worshipped under the names Inanna by the Sumerians, and Ishtar by the Akkadians, Babylonians, and Assyrians. We find yet more evidence of the sexual depravity practiced by the Canaanites.

    In Sumer, Inanna’s consort was Dumuzid, whom the Hebrews called Tammuz. Every year, the Sumerian King would perform the Hieros gamos, a sex ritual commemorating the marriage of Inanna and Dumuzid, in view of the public with one of the priestesses of Inanna. The ritual is described in a sexually explicit hymn preserved on a cylinder seal at the National Museum of Iraq. She would “bathe her loins” in preparation for the King and declare “O my holy thighs!” as they proceeded in the act together. The priests of Inanna, known as the Gala, underwent a transformation into females, taking on their traditional roles, and engaging in sodomy.

    A Clay plaque. Mesopotamia (Iraq) Old Babylonian period 2000 BCE.

    Herodotus also tells us of a Babylonian custom that required every woman to deliver herself to the temple of Ishtar where she will be placed among the other women, while a line of men walk by to inspect them. The first man to offer her any sum of money must be accepted, and she must go with him to be raped. Herodotus goes on to say that this ordeal is over quickly for beautiful women, but the comely ones sometimes remain for years waiting for their turn to be defiled. A similar custom also took place in Cyprus.

    Pontic-Caspian Steppe

    Heading north into the Pontic-Caspian Steppe, where today we find Ukraine, Western Russia, and Kazakhstan, we find the ancient nomadic equestrians, the Thracians. They had many religious practices involving their divine lovers, including ritual orgies, human sacrifice, and transgenderism.

    Many of these customs were replicated by the Scythians who co-existed with the Thracians during the first millennium BC. The Scythians even practiced ritual cannibalism, and their highest and most powerful aristocracy was known as the Enaree. This was an orgiastic cult devoted to their snake-legged goddess of sex, Artimpasa. Like Aphroditus, this goddess was often pictured with a beard.

    These priests were effeminate and androgynous. They performed women’s work, spoke, and dressed like women, and potentially even castrated themselves as part of their “transformation” into women. They may even have been sodomized by other men in sex rituals while pretending to be women.

    Early in their history the Scythians invaded Canaan and sacked the temple of Astarte in Ascalon. The transgenderism of the Enaree was assumed to be a curse from the goddess who, as mentioned in the case of Tiresias, has the power to change men into women.

    A similar transgender priesthood, known as the Galli, existed in Phrygia and were devotees of their own version of the goddess, Cybele and her castrated partner Attis.

    An illustration of a shaman in Siberia, produced by the Dutch explorer Nicolaes Witsen in the late 17th century.

    A less ancient people of this area were the Khazars and by all accounts they continued many of the same practices as the Thracians and Scythians. Their religion was called Tengrism, which included shamanistic practices while dressed up like an animal.

    Marie Helene de Rothschild wearing the shaman’s antlers at the 1972 Surrealist Ball.

    The Khazarians are rumored to have converted to Judaism in the 10th century CE, and some evidence does exist in support of that. This is, however, a contentious matter and camps on both sides continue to dispute whether this actually took place.

    Marie Helene de Rothschild and her husband at the 1972 Surrealist Ball.

    Nevertheless, the 1972 Surrealist Party, held by Baroness Marie-Hélène de Rothschild and her husband Guy at the Chateau de Ferrières, appears to have echoed many Khazarian cultural practices.

    Abrahamic Era

    Is it any wonder why, in the Bible, God warns the Israelites to never deal with or mix with Canaanites. Here’s but one of many quotes:

    And when the LORD thy God shall deliver them [Canaanites] before thee; thou shalt smite them, and utterly destroy them; thou shalt make no covenant with them, nor shew mercy unto them: Neither shalt thou make marriages with them; thy daughter thou shalt not give unto his son, nor his daughter shalt thou take unto thy son. For they will turn away thy son from following me, that they may serve other gods: so will the anger of the LORD be kindled against you, and destroy thee suddenly. – Deuteronomy 7:2-4

    Furthermore, the Bible warns of infiltrators not only into Christianity, but also into Judaism:

    For there are certain men crept in unawares, who were before of old ordained to this condemnation, ungodly men, turning the grace of our God into lasciviousness, and denying the only Lord God, and our Lord Jesus Christ … Likewise also these filthy dreamers defile the flesh, despise dominion, and speak evil of dignities … Woe unto them! for they have gone in the way of Cain, and ran greedily after the error of Balaam for reward, and perished in the gainsaying of Core … These are spots in your feasts of charity, when they feast with you, feeding themselves without fear: clouds they are without water, carried about of winds; trees whose fruit withereth, without fruit, twice dead, plucked up by the roots; Raging waves of the sea, foaming out their own shame; wandering stars, to whom is reserved the blackness of darkness for ever … And Enoch also, the seventh from Adam, prophesied of these, saying, Behold, the Lord cometh with ten thousands of his saints, To execute judgment upon all, and to convince all that are ungodly among them of all their ungodly deeds which they have ungodly committed, and of all their hard speeches which ungodly sinners have spoken against him. These are murmurers, complainers, walking after their own lusts; and their mouth speaketh great swelling words, having men’s persons in admiration because of advantage. – The Book of Jude

    The Sons of God Saw the Daughters of Men That They Were Fair, sculpture by Daniel Chester French. Corcoran Gallery of Art, Washington, D.C.

    Behold, I will make them of the synagogue of Satan, which say they are Jews, and are not, but do lie; behold, I will make them to come and worship before thy feet, and to know that I have loved thee. – Revelation 3:9

    Just who are these infiltrators that Enoch prophesied about? We must consult the Book of Enoch for that answer:

    And Uriel said to me: ‘Here shall stand the angels who have connected themselves with women, and their spirits assuming many different forms are defiling mankind and shall lead them astray into sacrificing to demons as gods, here shall they stand, till the day of the great judgement in which they shall be judged till they are made an end of. – Enoch 19:1-2

    A complete reading of the Book of the Watchers, in Enoch, reveals he’s talking about the Nephilim, children of the Fallen Watchers, angels who rebelled against God along with Satan; a thieving, murderous group of cannibals that also drank blood. In other sections of the Bible, it makes the connection between the Nephilim and Canaanites.

    Aside from Jude, we have further evidence of the Canaanite infiltration into Christianity and the practice of their depraved rituals. Consider this passage about the sect of Borborites, who allegedly engaged in ritual orgies:

    But even though one of them should accidentally implant the seed of his natural emission prematurely and the woman becomes pregnant, listen to a more dreadful thing that such people venture to do. They extract the fetus at the stage which is appropriate for their enterprise, take this aborted infant, and cut it up in a trough with a pestle. And they mix honey, pepper, and certain other perfumes and spices with it to keep from getting sick, and then all the revellers in this herd of swine and dogs assemble, and each eats a piece of the child with his fingers. And now, after this cannibalism, they pray to God and say, “We were not mocked by the archon of lust, but have gathered the brother’s blunder up!” And this, if you please, is their idea of the “perfect Passover.” – Epiphanius, Panarion, Chapter 26.5.4

    This is not even the full extent of Canaanite influence over the ancient world, a whole book would be needed for that, but there is one last thing worth mentioning. DNA studies performed on the nearly 3,000 year-old Paracas skulls of Peru reveal they came from Syria – making these Canaanites the earliest transatlantic voyagers known, nearly two millennia before the Vikings. Should it be a surprise, then, that we also find human sacrifice, cannibalism, and ritual sex in Mesoamerica?

    This discussion wouldn’t be complete without addressing the Catholic eucharist, either. For what more perfect evidence of the corruption of Christianity is there but the practice of eating the flesh and drinking the blood of a man-God? This is a very serious matter, as the doctrine of transubstantiation mandates that Catholics truly believe this is an act of cannibalism. Furthermore, spitting it out is known as ‘host desecration’, a sin so egregious that only the Pope himself can forgive the offender, or excommunicate them.

    Pope Benedict XVI celebrates Christmas Eve Mass in St. Peter’s Basilica at the Vatican Dec. 24. (CNS photo/Paul Haring) (Dec. 24, 2012).

    I would also be remiss to not mention the recent case of a “Gay Orgy” being organized by Catholic Priests in Poland that went horribly wrong. The event involved a male prostitute and “potency pills,” just like the drugged up Canaanite orgies of old, and ended with emergency services being called to tend to a man that had collapsed unconscious on the floor.

    Present Day

    These cult activities manifest today in many ways. Aside from the global phenomenon of ritual child abuse already mentioned, take the example set by Harry Hay. He was an LGBT activist, staunch defender of pedophilia, and acolyte of Aleister Crowley and his sex magick. Hay glorified promiscuous sex and sodomy as a path to spiritual enlightenment. The drugged orgies of old are now taking place as ‘chemsex’, a meth-fueled anal sex marathon. Satanic gay men and transgender women are found everywhere in the US government now. Rape, torture, murder, and cannibalism are being celebrated in art, most notably by Marina Abramovic who also hosts ‘Spirit Cooking’ sessions and parties with cakes shaped as people, that are chopped up and eaten.

    Lady Gaga with Marina Abramovic

    Can all this help explain recent events in the middle east? Consider the fact that Gaza was originally part of the Philistine States, separate from the Kingdoms of Israel and Judah. If the Zionists of today were truly seeking a restoration of the original Hebrew Kingdoms, they would have no interest in Gaza, or Ashkelon for that matter. The Philistines, today’s Palestinians, were not one of the nations the Israelites were told to displace in the Bible. In fact, Genesis 21 and 26 recount two separate treaties Abraham and Isaac made with them.

    Gwen Stefani

    The only thing that could explain the Zionists lust for the Gaza strip is that they are not, in fact, being led by Jewish sentiment, but Canaanite. The Philistine States are a part of Canaan, and the Philistines seem to have immigrated there from the Aegean Sea shortly after the Late Bronze Age Collapse, when the Canaanite societies would have been economically weakened.

    Scene at the 1972 Rothschild Surrealist Ball.

    Canaan is the lands extending across the entire eastern Mediterranean coast, from just south of Gaza, all the way to northern Syria. If the government of Israel were being run by Canaanites, their incessant conflicts with Lebanon and Syria now make perfect sense. They’re trying to re-establish Canaan, not the Hebrew Kingdoms described in the Bible.

    Canaan according to the Bible.

    This was not even being done in secret not too long ago. In 1939 a movement was founded by Palestinian Jews with the express purpose of re-creating Canaan. A group of Lebanese Nationalists also got involved in their own efforts to bring back this ancient national identity. In fact, it was recently discovered that the Lebanese people share 90% of their DNA with the ancient Canaanites. Culturally or not, Canaanites continue to exist to this very day.

    Conclusion

    Returning full circle to my article about the Taxil hoax, we can see that his fabrication includes many elements of truth. Practitioners of this depraved form of goddess worship do indeed engage in the very same activities he leveled at the Masons. Thus, this hoax served as a wonderful device to project this cult’s misdeeds onto other parties.

    It should be remembered that Pope Leo XIII’s only complaint about Freemasons was that they were successfully advancing the idea of separation between Church and State, something enshrined in the First Amendment of the US Constitution. This Pope was, in a very real way, anti-American. He narcissistically saw anything that could diminish his control of nations around the world as ‘Satanic’ and wanted to rouse a reactionary movement against the principles of the Enlightenment that were spreading rapidly through Western society.

    By a long and persevering labor, they endeavor to bring about this result – namely, that the teaching office and authority of the Church may become of no account in the civil State; and for this same reason they declare to the people and contend that Church and State ought to be altogether disunited. By this means they reject from the laws and from the commonwealth the wholesome influence of the Catholic religion; and they consequently imagine that States ought to be constituted without any regard for the laws and precepts of the Church. – Pope Leo XIII, Humanum Genus, Section 13.

    I highly recommend reading The Apocalypse of Yajnavalkya for more information about this cult. Nothing else I’ve ever read more completely explores their history and activities. It tells you in detail exactly where these people originated and why they have such a seething hatred for the rest of humanity. This has been going on for far longer than most can presently imagine.

    Nothing worthy of God is to be found in the acts of this demented group. They take their most base, animal desires and make rituals out of satisfying these urges. Rituals that can irreparably harm their non-consenting victims, leading them into lives of substance abuse, prostitution, depression, dissociative identity disorder, and other mental health issues.

    We aren’t living in a world besieged by “the Joos” or “duh Freemasons”, it’s a nameless gang of marauding Canaanites and those they’ve tricked into adopting their ways by promises of wealth, power, and influence. It’s been a few thousand years and now is the time to unmask these traitors to humanity and pull the rug out from underneath them, permanently.

    Related Posts

    The Greatest Hoax of All Time

    Decoding the Taxil Hoax: Part 1

    Subscribe to the Bombthrower mailing list to get these posts as they come out, and follow Mr. E via his Substack and Twitter.

    Tyler Durden
    Mon, 10/30/2023 – 23:55

  • Yen & UST Yields Tumble After BoJ's Mixed Messages, But…
    Yen & UST Yields Tumble After BoJ’s Mixed Messages, But…

    The market was well prepared for action from the Bank of Japan (BoJ) tonight after Nikkei reported the central bank’s intent to consider another tweak to its yield curve control (YCC) policy.

    Having moved from 0.25% to 0.5%, then to 1%, the Nikkei report prompted speculation that the central bank would raise the limit again, rather than abandoning YCC altogether, as JGB yields have traded up close to the 1% limit in recent days.

    The report noted that “the second framework tweak in three months appears to have been deemed necessary as 10-year yields are approaching 1% amid a backdrop of rising U.S. rates” and added that the “BOJ is also likely to more flexibly conduct its JGB purchase operations… This, along with a more flexible cap on 10-year yields, is aimed at deterring speculators from targeting the upper limit and sparing the BOJ the need to buy droves of JGBs to keep rates under 1%.”

    However, consensus is that BoJ will stand pat as historically the BoJ has paid less attention to market expectations than, say, the Fed.

    If USDJPY was anything to go by, it was starting to remove the odds of a BoJ YCC adjustment, as JPY weakened back from earlier gains on the Nikkei report…

    As we detailed earlier, no matter what the BOJ does today, the decision is sure to move markets.

    A policy hold could spur yen selling.

    There’s a good chance, though, that a sharp move beyond 150 against the dollar would invite intervention by Japan’s authorities to defend the currency.

    A tweak to the YCC parameters, such as lifting the 10-yield yield ceiling to 1.5%, could support the yen.

    But any strengthening would probably be limited to at most about 145 against the greenback, given the upward tug on the dollar from relatively high US yields.

    Additionally, The BoJ is expected to raise its inflation forecasts for both this fiscal year and next. This would likely bring Japan’s key inflation above 2% for three straight years, which of course leads to the question of why the BOJ still needs to continue with the current stimulus policy given its side-effects.

    So what will they do…

    Well, earlier today, Prime Minister Fumio Kishida was asked in parliament ahead of the decision whether the BOJ’s ultra-easy policy was weakening the yen and causing price rises. Kishida, whose approval rating just hit a record low dur to soaring inflation, said central bank policy aims to achieve and maintain stable prices. He added that the government should coordinate with the BOJ on macroeconomic policies.

    And while the BoJ has released a policy statement at 12:06pm Tokyo time on the average since the introduction of yield curve control in 2016, today the BoJ released its statement at 12: 27pm Tokyo time (exactly one standard deviation late to its norm) and kept rates unchanged:

    BoJ maintains NIRP at -0.10% and 10yr JGB yield target at 0% but makes what was formerly a hard cap of 1% on yields into a reference range of 100bps up or down, vs the previous target of 50bps, thus making YCC even more flexible. The BoJ also says:

    • Will regard upper bound of 1% for 10yr JGB yield as reference in market ops.

    • Decision on YCC was made by 8-1 vote with Nakamura the dissenter.

    • Decides to make YCC more flexible.

    • Japan’s inflation outlook is overshooting but due largely to prolonged rises in import costs.

    • Will guide market operations nimbly.

    The most important changes of these is the BOJ’s description of the 1% rate as “a reference”, which sounds similar to the July 28 BoJ meeting, when Governor Kazuo Ueda made his first surprise move by maintaining the 10y yield target at 0% but said its 0.5% ceiling was a reference point and not a rigid limit. Back then, the BoJ offered to buy bonds at 1% and the JGB 10y yield was up 0.15% over the following week.

    Likely, the BoJ would allow 10y bond yields to creep higher with potential rinban operations risk if the 10y bond yields advance higher much too quickly.

    Additionally, the BOJ has also decided to abandon its daily fixed-rate bond-buying operations, its major tool for impacting rates, citing the “large side effects” it might entail. The BoJ also raised its economic growth but more importantly, its inflation forecasts…

    … which means that all else equal, Kishida’s approval rating is about to become even worse!

    This is mainly due to the prolonged effects of a pass-through to consumer prices of cost increases led by the past rise in import prices and the recent rise in crude oil prices. Toward the end of the projection period, the Bank expects that underlying CPI inflation will increase gradually toward achieving the price stability target of 2 percent, while this increase needs to be accompanied by an intensified virtuous cycle between wages and prices.

    Still confused? here is the BOJ’s trademark “explainer” for what today’s decision means. The bottom line is that the 1.00% cap is officially gone and instead the BOJ will allow 10Y rates to rise above the former hard limit at which point it may or may not engage in “nimble market operations.”

    Source: BOJ

    The initial reaction to the BoJ’s moves implied a less hawkish than expected statement, prompting JPY weakness, breaking back above 150/USD…

    JGB yields tumbled back…

    And so did 10Y UST yields…

    However, as UBS trading desk explains:

    My interpretation of the changes are that the previous YCC target of 0% +/-50bp was the loose target, allowing 10y JGB yields up to 1%, where it would conduct daily fixed-rate purchases if needed.

    Now the operations will not necessarily be at 1.00%: “The bank will determine the offer rate for fixed rate purchase operations each time, taking account of market rates and other factors.”

    Effectively the BoJ has raised the yield cap without saying where it is – still trying to let the markets find the natural balance of supply and demand whilst keeping a lid on bond vol

    So nothing would surprise us more than to wake up in the morning and see all this reversed.

    Finally, Bloomberg’s Gearoid Reidy asked a fascinating question: does the BOJ actually want to control the yield curve?

    The statement says:

    “It is appropriate for the Bank to increase the flexibility in the conduct of yield-curve control, so that long-term interest rates will be formed smoothly in financial markets in response to future developments.”

    That’s just… the market, surely? Where is the control? Does YCC even effectively exist anymore?

    How long  until the market realizes that Japan’s legendary YCC no longer actually exists?

    Tyler Durden
    Mon, 10/30/2023 – 23:40

  • Georgia Couple Helps Police Scam The Gold-Scammers
    Georgia Couple Helps Police Scam The Gold-Scammers

    Via SchiffGold.com,

    A Georgia couple nearly lost more than $186,000 in a gold scam. But they ended up turning the tables and scamming the scammers.

    It all started with a pop-up on the Perry, Georgia, couple’s computer warning the machine was infected with a virus.

    The couple called the help number provided.

    That was their first mistake.

    The scammer on the other end warned that the virus may have compromised their bank account and helpfully connected them with their bank’s fraud department.

    This was the couple’s second mistake.

    They should have hung up and called the bank’s fraud department directly.

    The person the scammer connected them with was, of course, just another scammer. This individual confirmed that their account had been compromised, saying there were pending suspicious transactions.

    The couple was then passed along to a third scammer pretending to be from the Federal Trade Commission.

    This individual even emailed phony documents to “confirm” his identity.

    The fake federal agent told the couple the best way to protect their money was to take the $185,916 from the compromised account and buy bars of gold.

    The scammer told the couple an undercover FTC agent would come to their home, pick up the gold, and take it to Washington D.C. Once verified, the couple would receive a check for the full amount.

    As implausible as this may sound to you and me, the couple bought the story and went as far as to purchase 1 kilogram Royal Canadian Mint gold bars from a dealer in Texas.

    But at some point, the couple grew suspicious and called the police.

    The case ended up on the desk of Perry Police Department Detective Sgt. J.I. “Ike” Wilcox,’ and he hatched a plan to scam the scammers. He dubbed it “Operation Goldfinger.”

    It just so happened that Wilcox is an expert on fraud and teaches courses on how to avoid it.

    “A lot of times that demographic is more vulnerable because technology has evolved so much during their lifetime,” Wilcox told the Macon Telegraph.

    The police had the gold shipment rerouted back to the dealer.

    The couple received a full refund. But with the help of police, the husband and wife strung the scammers along, telling them the gold was on the way. Sure enough, the scammers arranged to have a courier come to the couple’s home to pick up the gold.

    When the SUV showed up, police arrested the driver, Gurdev Singh, 31, of Stockton, California. He faces numerous charges, including criminal attempt to commit theft by deception and exploitation of elder persons.

    “I could safely describe his reaction as genuine surprise,” Wilcox said.

    According to the Telegraph, the investigation remains open and detectives are trying to track down others involved in the scam.

    According to the US Department of Justice, in 2021, cyber-related crimes stole more than $140 million from victims in Georgia alone.

    The lesson is to always be on guard. If something feels fishy, it probably is.

    There are thousands of unscrupulous people out there trying to rip you off. And some of them aren’t criminals.

    There are a lot of shady businesses out there looking for ways to take advantage of you.

    You can learn more about gold scams and how to avoid getting ripped off in our free report, Classic Gold Scams. Click the link below to download the free report!

    Tyler Durden
    Mon, 10/30/2023 – 23:00

  • Bidenomics: Typical US Family Would Pay $9,100 To Comply With 'Dream House' Climate Wish List
    Bidenomics: Typical US Family Would Pay $9,100 To Comply With ‘Dream House’ Climate Wish List

    The Biden administration’s war on fossil fuels would cost the average American household more than $9,100 per year, according to a consumer watchdog.

    The Alliance for Consumers took an infographic from the Biden White House titled “Biden’s Dream Home,” which proposes new energy standards for various appliances, including air conditioners, stoves, washing machines, while the Department of Energy’s so-called Unified List of appliances includes microwave ovens, dehumidifiers and pool pumps.

    “Welcome to Biden’s Dream House, where the American dream just got significantly more expensive,” the group wrote on X.

    According to the consumer watchdog, gas furnace efficiency standards which will “significantly reduce greenhouse gas emissions” for residences (according to the DOE), will cost consumers an estimated $494 additional on average, while dishwasher efficiency standards will cost somewhere between $50 and $400 to comply with, because the proposed rules will lead to drainage problems and clogging.

    Sears Kenmore washing machines are shown for sale inside a Sears department store in La Jolla, Calif., on March 22, 2017. (Mike Blake/Reuters)

    The rules targeting air conditioning units will cost around $1,100 to comply with.

    This year, the Department of Energy (DOE), the Environmental Protection Agency (EPA), and the Department of Transportation (DOT) have announced a range of proposed rules that will make household appliances more expensive and, as some experts contend, are designed to force Americans to give up their current appliances.

    For example, under the DOE’s proposed natural gas stove rule, an estimated 90 percent of gas stoves would have to be redesigned, with reduced performance and raise the upfront cost of stove products by around $32 million per year. –Epoch Times

    New rules for water heaters will cost consumers an average of $2,800 more, while everything from ceiling fans, washing machines and light bulbs will also add to that $9,100 total.

    “It’s just spreading to more and more appliances. It seems that almost everything that plugs in or fires up around the house is either subject to a pending regulation or soon will be,”  Ben Lieberman, a senior fellow at the Competitive Enterprise Institute, told Fox News.

    Consumers aren’t going to like any of it. These rules are almost always bad for consumers for the simple reason that they restrict consumer choice.”

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

    Tyler Durden
    Mon, 10/30/2023 – 22:40

  • Leaked Document Shows Israeli Govt 'Option' To Ethnically Cleanse Gaza
    Leaked Document Shows Israeli Govt ‘Option’ To Ethnically Cleanse Gaza

    Via The Cradle,

    Israeli culture magazine Mekovit on Saturday published a leaked document issued by Israel’s Ministry of Intelligence recommending the occupation of Gaza and total transfer of its 2.3 million inhabitants to Egypt’s Sinai Peninsula.

    The document, issued on October 13, identifies a plan to transfer all residents of the Gaza Strip to North Sinai as the preferred option among three alternatives regarding the future of the Palestinians in Gaza at the end of the current war between Israel and the Hamas-led Palestinian resistance.

    Palestinians shelter at a temporary tent camp set up for those who were displaced from their homes by Israel’s evacuation orders and airstrikes, Khan Younis, southern Gaza Strip. Image: Bloomberg

    The document recommends that Israel evacuate the Gazan population to Sinai during the war, establish tent cities and new cities in northern Sinai to accommodate the deported population, and then create a closed security zone stretching several kilometers inside Egypt. The deported Palestinians would not be allowed to return to any areas near the Israeli border.

    The existence of the document does not necessarily indicate that its recommendations are being implemented by Israel’s security establishment. The Ministry of Intelligence, headed by Gila Gamliel of the Likud party, does not control any of Israel’s intelligence agencies, but independently prepares studies and policy papers, which are distributed for consideration by the government and its security bodies.

    However, recent statements by Israeli government officials and actions by the Israeli army in Gaza suggest the plan is indeed being implemented. Since October 7, Israeli officials have repeatedly issued warnings to Palestinians to move to southern Gaza in advance of a looming ground invasion. 

    Israel has imposed a total siege on Gaza, cutting off food, water, fuel, and electricity. The siege, combined with intense Israeli bombing that has killed over 8,000 Palestinians, the majority women and children, threatens to make Gaza uninhabitable. 

    An official at the Ministry of Intelligence confirmed that the ten-page document is authentic but “was not supposed to reach the media,” Mekovit noted. According to a right-wing activist, the document from the Ministry of Intelligence was leaked by a member of Likud.

    Leaking the document was an attempt to find out whether “the public in Israel is ready to accept ideas of a transfer from Gaza.” The document unequivocally and explicitly recommends carrying out a transfer of civilians from Gaza as the desired outcome of the war.

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

    The transfer plan is divided into several phases: in the first phase, the population in Gaza must be forced to move to southern Gaza, while Israeli air strikes will focus on targets in northern Gaza. In the second phase, the Israeli army’s ground entry into Gaza will begin, which will lead to the occupation of the entire strip, from north to south, and the “cleansing of the underground bunkers from Hamas fighters.”

    At the same time as the Gaza Strip is occupied, the citizens of Gaza will move to Egyptian territory and will be prevented from returning permanently. “It is important to leave the traffic lanes towards the south usable, to allow the evacuation of the civilian population towards Rafah,” the document states.

    The document recommends beginning a dedicated campaign that will “motivate” Gazans “to agree to the plan,” and make them give up their land. Gazan should be convinced that “Allah made sure that you lost this land because of the leadership of Hamas – there is no choice but to move to another place with the help of Your Muslim brothers,” the document reads.

    Further, the plan states the government must launch a public relations campaign that will promote the transfer program to western states in a way that does not promote hostility to Israel or damage its reputation. The deportation of the population from Gaza must be presented as a necessary humanitarian measure to receive international support. Such a deportation could be justified if it will lead to “fewer casualties among the civilian population compared to the expected number of casualties if they remain,” the document says.

    The document also states that the US should be leveraged to pressure Egypt to take in the residents of Gaza, and to encourage other European countries, and in particular Greece, Spain and Canada, to help take in and settle the refugees who will be evacuated from Gaza. 

    Finally, the document claims that if the population of Gaza remains, there will be “many Arab deaths” during the expected occupation of Gaza by the Israeli army, and this will damage Israel’s international image even more than the deportation of the population. For all these reasons, the recommendation of the Ministry of Intelligence is to promote the transfer of all Palestinians in Gaza to Sinai permanently.

    Tyler Durden
    Mon, 10/30/2023 – 22:20

  • Krispy Kreme Downgraded On Prospect Of Waning Doughnut Demand As 'GLP-1 Fever' Sweeps America
    Krispy Kreme Downgraded On Prospect Of Waning Doughnut Demand As ‘GLP-1 Fever’ Sweeps America

    America’s anti-obesity craze, courtesy of GLP-1-based weight-loss drugs such as Wegovy and Mounjaro made by Novo Nordisk and Eli Lilly, continues to gain momentum as yet another Wall Street bank loses faith in obese consumers. 

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

    On Monday, Truist Securities downgraded doughnut chain Krispy Kreme Inc. from “buy” to “hold” and slashed the price target from $20 to $13, citing GLP-1 trends. 

    Analysts led by Bill Chappell told investors:

    “We believe the stocks will be stuck in a holding pattern at best with strong potential for additional multiple contraction as the initial impact of GLP-1 use becomes more apparent. To be clear, we have NO IDEA what the impact of GLP-1s will be on overall food consumption, but we believe it is way too early in the cycle for anyone to have an accurate estimate.”

    Chappell said he needs more evidence to gauge the overall GLP-1 impacts on overall food consumption. He noted if GLP-1 impacts worked through Krispy Kreme and its peers in the third quarter – there would be enough data to forecast 2024-25 trends. 

    Chappell warned that GLP-1 overhang will weigh shares down for the next six to 12 months, “if not longer.” 

    He added: 

    “We believe the stocks will be stuck in a holding pattern at best with strong potential for additional multiple contraction as the initial impact of GLP-1 use becomes more apparent.” 

    Shares of Krispy Kreme fell as much as 3.6% in early New York trade, but most losses were recovered by early afternoon. Shares are up 24% on the year but remain around record lows. 

    Another problem for the doughnut chain is that top-line growth resulted from increased pricing during Covid. According to Chappell, this trend will “only feed into the GLP-1 narrative as pricing benefits recede and overall sales growth decelerates in the next few quarters.”

    We told readers 2.5 months ago about the emerging “food revolution” as the food industrial-complex has been too lazy to adapt to the shifting winds of an increasing number of Americans using GLP-1 drugs. 

    In late July, a shift occurred as investors started to offload companies with potential downstream risks related to obesity drugs, as indicated by the Goldman Sachs Global HLC GLP Risk index. Concurrently, investors piled into Goldman’s GLP-1 Obesity drug basket to capitalize on slimming down Americans. 

    A recent Morgan Stanley presentation (available to pro subs) found the most bull case for the GLP-1 drugs could result in a 1.7% reduction (vs baseline) in calories consumed by Americans. 

    Not surprisingly, MS found a more pronounced impact on certain food categories among those on the weight-loss drugs.

    Also, the biggest losers appear to be fast food and pizza restaurants…

    … confections, cookies, and salty snacks…

    Expanding on MS’ report is Bank of America analyst Geoff Meacham (available to pro subs), who reveals the downstream effects of the obesity drug will impact the apparel industry as “eventual weight loss in the broader population could spur a wardrobe replacement cycle.” 

    Meacham said that an adoption rate of 38 million individuals using weight-loss drugs (midpoint of BofA’s estimated 2030 TAM) combined with the assumption of buying new clothing could result in $50 billion of new apparel spending. 

    Walmart has already voiced concern about seeing an impact on shopping demand from people taking the diabetes drug Ozempic, Wegovy, and other appetite-suppressing medications. 

    Banks are still evaluating the downstream effects of GLP-1 impacts that could be more clear in the next several quarters. 

    Tyler Durden
    Mon, 10/30/2023 – 22:00

  • Texas Reclaims Island From Mexican Cartels In Fight To Secure Border
    Texas Reclaims Island From Mexican Cartels In Fight To Secure Border

    Authored by J.M. Phelps via The Epoch Times (emphasis ours),

    Hondurans walk along the U.S. side of the Rio Grande and past an emptied-out migrant camp after crossing over from Mexico to El Paso, Texas, on May 13, 2023. (John Moore/Getty Images)

    In the fight against Mexican cartels, Texas law enforcement recently took control of a dangerous island used by human traffickers.

    The Epoch Times spoke to Texas Land Commissioner Dawn Buckingham, who identified Fronton Island as possibly “the most violent part” of the Texas–Mexico border. Belonging to Texas, Fronton Island is an island in the Rio Grande River. According to the General Land Office, “Fronton Island has been a hot spot for drug and human trafficking and dangerous cartel activity in the past couple of months.”

    Ms. Buckingham further described the island as “a law enforcement-free refuge, one where cartels went for refuge when they needed it.” On Sept. 7, she issued a letter to the Texas Department of Public Safety, authorizing law enforcement access to the state-owned 170-acre island.

    On an island where fully automatic weapons were once being fired regularly at night, as two violent cartels fought over its control, she said, “Law enforcement set foot on the island for the first time on Monday [Oct. 2].

    Ms. Buckingham cannot speak to the details of the operation, but said the island has been reclaimed by an elite force of Texas Rangers. “Clearing the island and taking away [the cartel’s] shelter, they are finding caches of weapons and more than I can’t speak fully about,” she added.

    With a Texas flag planted on the island, Ms. Buckingham considers the operation a win against illegal immigration, drug trafficking, and human trafficking—but the scope of the problem exceeds this single region.

    “Texas is still getting flooded with illegal immigrants,” she said. “We’re seeing millions and millions of folks coming across the border.

    To put this in perspective, she said, “The New York mayor is complaining about thousands of people coming [into his city], while Eagle Pass [in Texas] expects far more than that.” The numbers of migrants Eagle Pass has to brace for is “the equivalent of 2.7 million people illegally coming to New York every week.” In addition, she said, “these are not just family units, but a whole lot of young, military-aged males.”

    “Recent surges of illegal immigrants are setting new records for crossing the border,” she said. “There are numerous videos circulating online showing thousands of people literally storming across the border,” she added. “This is literally an invasion.”

    For those actually being processed by Border Patrol to enter the country, she said, their earliest court date to begin a legal process for their entry into the country would be the year 2027. “With a court date years in the future like this, many will just disappear,” she said.

    Streaming Across the Border

    According to Ms. Buckingham, “nearly everybody who comes who comes across the border has a wristband that indicates which cartel they belong to.”

    “Everyone who comes across is owned by somebody, so you’re basically seeing the largest increase in slavery that this world has ever seen,” she said. “Many are now obligated to the drug trade or the human trafficking trade because the cartels are controlling who crosses the border.”

    With enough fentanyl across our border to kill every man, woman, and child in the United States, this has to stop,” she said, adding that “Texas is doing everything we possibly can to get this stopped.”

    One of the things Texas is doing is “creating a criminal record for the people who come across and break our laws so that they’re easily identifiable,” she said. “Because of [President Joe] Biden’s policies, what we’re seeing right now is a lot of criminals who simply get turned back around to their country to turn around again and walk back across the border.”

    “While Texas is fighting on every front and will continue to fight,” she said, “people need to seriously think about who they’re voting for in Congress and for president, because we need people who will enforce policies that stop illegal immigration, and the trafficking of drugs and people into our great country.”

    In September alone, Border Patrol encountered a record 269,735 migrants at the border; 218,763 of whom were attempting to illegally enter the country. In fiscal year 2023, a record 169 people on the terror watch list were apprehended, and more than 25,500 pounds of fentanyl was seized at the border.

    The White House and Department of Homeland Security did not return requests for comment.

    Tyler Durden
    Mon, 10/30/2023 – 21:40

  • Salesforce CEO Demands Return Of 'Law And Order' Across Crime-Ridden San Fran
    Salesforce CEO Demands Return Of ‘Law And Order’ Across Crime-Ridden San Fran

    Marc Benioff, the CEO of Salesforce, San Francisco’s largest employer and anchor tenant in the city’s tallest skyscraper, urged progressive leaders in City Hall on Sunday night to reverse course on defunding the police. He advocates to “refund” the police force after defunding policies sparked a metro area-wide surge in violent crime. This call from Benioff, alongside others, suggests a growing separation from previously ‘woke’ policies. However, these calls to reverse disastrous progressive policies could be too late. 

    On Sunday evening, Benioff posted on X, “San Francisco must REFUND the Police not continue to DEFUND the Police. Our SFPD and Sheriffs are the key to a safe and clean San Francisco every day. SFPD must be returned to >2000 officers within 18 months from <1400 where it has been allowed to fall, and the police force must be fully empowered to enforce ALL laws." 

    He continued, “Compensate ALL city employees to recruit the best officers in the country. Reward and recognize them for hiring the absolute best now. San Francisco Police Academy must be expanded for hiring surge. All laws must be fully enforced. Police must be fully funded. The DA’s office must prosecute to the fullest level of the law. Return Safety to retail business and residential properties NOW. DISTRICT BY DISTRICT – Police officers need to be enabled to protect assigned districts and rewarded & measured for their effectiveness. Metrics for effectiveness need to be clearly defined and transparent. Let’s institute a Neighborhood Policing model in San Francisco, safety District by District. We can and must do more now with our police force.”

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

    And, of course, Elon Musk, whose X headquarters is based in the crime-ridden metro area, responded to Benioff’s post: “We must also grant law enforcement officers the respect and honor that they deserve. Every profession has flawed individuals, but it was deeply wrong to condemn all police officers, after they risked their lives to keep us safe, for the sins of the few.”

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

    Musk has warned San Francisco’s downtown feels “post-apocalyptic” … 

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

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

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

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

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

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

    The backfiring of policies recently forced Democrat Mayor London Breed to reverse course on her defunding the police initiatives. She has requested more funding for police, a move to attract businesses back to the downtown area.

    Benioff has previously warned about the metro area’s collapsing commercial real estate market, warning that the downtown area is “never going back to the way it was” in pre-Covid times.

    No more kneeling for the mayor?

    … and across the nation, who could’ve seen this coming? 

    Blue cities face severe police shortages as violent crime explodes

    X users responded to Benioff’s post: 

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

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

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

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

    … 

    Tyler Durden
    Mon, 10/30/2023 – 21:20

  • Biden Throws $45 Billion In Federal Funds To Convert Offices Into Homes
    Biden Throws $45 Billion In Federal Funds To Convert Offices Into Homes

    Authored by Mike Shedlock via MishTalk.com,

    Questions abound. Assume you can convert offices into homes, who wants to live in them? Is a tear-down cheaper?

    To ease the housing crisis, White House Opens $45 Billion in Federal Funds to Convert Offices Into Homes

    Taking aim at the nation’s housing crisis, the White House kicked off a multiagency push on Friday to help real-estate developers convert more office buildings emptied by the pandemic into affordable housing.

    The initiative aims to harness $35 billion in low-cost loans already available through the Transportation Department to fund housing developments near transit hubs, folding the initiative into the Biden administration’s clean-energy push.

    It also opens up additional funding sources and tax incentives and offers a new guide to 20 federal programs that developers can tap and that offers technical assistance in what can be tricky and expensive conversions.

    A third part of the program will see the federal government draw up a public list of buildings it owns that could be made available for sale to help bolster development.

    The federal government owns about 1,500 office buildings nationally and had leases on almost 200 million square feet of additional space as of April, according to Barclays analysts, who said in a recent report that much of that office space was underused.

    Questions Abound

    Also consider San Francisco’s push to turn office buildings into homes hinges on this simple idea

    “Hope is not a strategy,” said Nick Romito, co-founder and CEO of VTS, a leasing and asset-management data company. “The hope that if you convert it, they will come —well, a lot depends on where that building is.”

    While New York City’s downtown financial district is home to a number of successful office-to-residential conversions, it also takes a vibrant neighborhood, with bustling cafés, grocery stores and more.

    “That is not the same for San Francisco,” Romito said. “The infrastructure and the cost of converting a building — that’s part of it,” he said. “But I’d be more concerned about, even if you can convert it, who wants to live there?

    “What’s cheaper?” Romito said. “Is it cheaper to add amenities in maybe a zombie building, add a floor or two, to create a better experience? Or is it cheaper to knock the entire building down, rebuild something else, and pray to God you lease it?

    Warren Wachsberger, CEO of Aecom Capital, a subsidiary of Aecom ACM, said revamping old office buildings isn’t that simple. “Less than 1% of all apartment units underway, being built nationally, are office-to-residential conversions, despite everybody’s love affair with them,” Wachsberger said, speaking from Los Angeles.

    Many buildings probably won’t work,” Wachsberger said, observing that thick, concrete office floorplates often need to be drilled through and plumbing and heating systems overhauled, with local building codes adding to the headache.

    “It’s a lot easier and cheaper to demolish it and start over from scratch,” he said. “That means buying buildings essentially at the cost of land.”

    Wachsberger said hopes for an expansion of an office-to-residential conversion effort in Los Angeles in the 2000s likely hinge on incentives for developers and the buildings being in places where people wanted to work, eat, live and shop. “Until that’s able to come back, it’s difficult to create the vibrancy that was there prepandemic,” he said.

    Simple Idea

    I had to read that article twice to find the simple idea mentioned in the headline. The article never really explained. But I believe It’s in that last paragraph above: Incentives and free money from governments.

    With enough subsidies, developers will try nearly anything. Then when the projects fail, the developers ask for more money.

    Clean Energy Question

    What the heck does this have to do with clean energy?

    The answer is clearly nothing. Nonetheless, $45 billion is siphoned from the Biden administration’s clean-energy push.

    The government has 1,500 office buildings nationally and leases on almost 200 million square feet of additional space that it does not need. Instead of canceling leases and selling the real estate, it’s going to convert them into clean energy spaces.

    Biden’s Green Energy Inflation Reduction Act Needs a Big Bailout Already

    Please note Biden’s Green Energy Inflation Reduction Act Needs a Big Bailout Already

    Surprise, surprise. Subsidies were not enough to make Biden’s energy projects profitable.

    The Inflation Reduction Act (IRA) includes hundreds of billions of dollars in subsidies for green energy, yet now renewable developers want utility rate-payers in New York and other states to bail them out.

    According to a report late last month by the New York State Energy Research and Development Authority (Nyserda), large offshore wind developers are asking for an average 48% price adjustment in their contracts to cover rising costs. The Alliance for Clean Energy NY is also requesting an average 64% price increase on 86 solar and wind projects.

    What Will This Office to Apartment Conversion Ultimately Cost?

    Supposedly, this office conversion idea will only cost $45 billion.

    I assume it will eventually cost $450 billion minimum by the time Biden finishes. He is guaranteed to add subsidized low income, clean energy, free electric heat, and free child care into the mix.

    Tyler Durden
    Mon, 10/30/2023 – 21:00

  • Watch: COVID Authoritarians Want Forgiveness – Here's Why They Don't Deserve It
    Watch: COVID Authoritarians Want Forgiveness – Here’s Why They Don’t Deserve It

    Do authoritarians deserve a chance to be treated with grace and forgiveness?  The question is circulating regularly these days in the wake of the complete failure of covid pandemic response and the victory of the anti-mandate movement.  The answer relies on a series of counter-questions based on logic and predictable outcomes.  It’s the kind of discussion that covid cultists don’t want to have; they just want everyone to forget because they now have something to lose politically  

    Scott Galloway, Professor at the NYU Stern School of Business and member of the World Economic Forum’s “Global Leaders Of Tomorrow” list, is one of the cultists that now wants to be given a free pass as he debates the issue on Real Time with Bill Maher.

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

    The question that we need to ask Galloway is:  How forgiving was he when confronted with people who opposed his authoritarianism?  Galloway was rabidly pro-mandate.  He consistently called for harsher punishments for people refusing to comply and he demanded that the unvaccinated be treated as second tier citizens banned from places of business.  As he argued in his blog titled ‘Half Of America Has Its Head Up Its Ass. It’s Time For A Vaccine Mandate’:

    “Enough already. Federal law should require any citizen who wants to cash a government check, use public transport, or enter a place of business to show proof of vaccination…”

    Galloway cited the ever present inflated CDC data on covid deaths in America as the justification for his authoritarian position.  Of course, data was available not long after the spread of covid indicating that the Infection Fatality Rate of the virus was a tiny 0.23% and that 99.8% of the population (including the unvaccinated) had nothing to fear.  Not only that, but the CDC has recently and quietly published information showing that around 95% of people who died with covid also had one or more comorbidities and 75% had at least four – Meaning, if you did not have multiple comorbidities your chances of dying from covid were incredibly small.   

    Do Galloway and those like him deserve a clean slate?  No, they don’t, and here’s why…

    No Apologies

    We hear many covid authoritarians talk about forgiveness but very few of them actually apologize for their behavior.  Galloway calls for “grace”, perhaps trying to appeal to the Christian notion of “turning the other cheek.”  He admits he was wrong on the mandates (because the data forces him to), but he doesn’t actually apologize for his behavior.  In fact, he excuses his behavior and the behavior of leftist politicians as them doing the best they could do given the imperfect information they had at the time.  This is a common tactic of misdirection.

    As noted above, within months of covid becoming active in the US, the data was already available showing that the virus was not a legitimate threat.  So the claim that their information was “the best they had at the time” does not hold water.  There was more than enough evidence to warrant opposition to unconstitutional policies (frankly, even if covid had been more deadly it doesn’t justify violations of the Bill of Rights).  Millions of Americans tried to explain the truth to those panicking over covid, and they chose not to listen, calling us “selfish conspiracy theorists.” 

    But the greatest trespasses were among those analysts and “influencers” who used covid as an opportunity for political gain, knowing that there was information that debunked government and media spin.  The worst people are those that have no intention of making amends because they plan to try again.  People who do wrong and refuse to give a legitimate apology are the kinds of people that are likely to commit similar offenses in the future.   

    Mad With Power

    The covidians were primarily from the left side of the political spectrum and wherever leftists were most concentrated is where the most egregious violations of liberty took place.  The political left went absolutely mad with power, with a large number of Democrats supporting Orwellian controls to punish people refusing to submit to the mandates. 

    There were calls to fine the unvaccinated, imprison people who question the vaccine, put the vaccinated on home lockdown and even take away their children.  In some states, like New York, there was active legislation put forward to create detention facilities for people that did not comply (covid camps).  That is some serious Stalinist behavior and we are still waiting for it to be addressed and for certain political leaders to be punished.  

    As the old saying goes: “Nearly all men can stand adversity, but if you want to test a man’s character, give him power.”  We have now seen the character of the political left.  We have seen the character of people like Galloway, and they have been found untrustworthy.

    It Can And Will Happen Again

    The covid event was really a litmus test for authoritarian tendencies in the US.  At least half the public failed that test miserably.  We may not see another pandemic agenda in our lifetimes, but that doesn’t really matter.  There will be many other opportunities in the future for ignorant people and sociopathic people to act out on their darker impulses.  It is important to make a note of how the individuals around us behave when they think it’s safe to be evil, and we must remember who they are.  These are not people that should be given “grace” or trust down the road when the next crisis strikes; they have shown themselves to be unworthy of that.

    Tyler Durden
    Mon, 10/30/2023 – 20:40

  • "The Pessimistic Tone On Conference Calls Is Striking": US Stocks Are Facing Falling Profit Forecasts
    “The Pessimistic Tone On Conference Calls Is Striking”: US Stocks Are Facing Falling Profit Forecasts

    By Sagarika Jaisanghani, Bloomberg markets live reporter and analyst

    A deteriorating outlook for corporate earnings offers little support for the S&P 500 reeling from its worst October since 2018.

    While data from Bloomberg Intelligence show US firms are on pace to report a surprise increase in third-quarter earnings, forecasts for future quarters have been marked down as companies warned of tepid demand and an uncertain macroeconomic outlook. Deutsche Bank Group AG said analysts’ estimates for the fourth quarter have been cut by a “more than typical” 1.9% since the start of the reporting season.

    Profit estimates for the next 12 months for the S&P 500 Equal Weight Index — which weights companies equally rather than by market value, a move that pares the influence of the technology behemoths — have come down 1.8% since the start of October, data compiled by Bloomberg show.

    The pessimistic tone” on post-earnings conference calls “is striking,” said Lori Calvasina, head of US equity strategy at RBC Capital Markets LLC. The magnitude of downward revisions in 2023 and 2024 forecasts means the season so far hasn’t been “enough to get the US equity market out of its recent malaise,” she wrote in a note.

    US stocks have slumped this month in their worst October performance in six years, hurt by a surge in bond yields and renewed geopolitical concerns. A disappointing showing from technology giants including Google parent Alphabet Inc. and Facebook owner Meta Platforms Inc. has also weighed on sentiment. The S&P 500 confirmed a technical correction on Friday after slumping 10% from its July peak.

    Morgan Stanley strategist Michael Wilson — among the most bearish voices on Wall Street — said profit expectations are still “too high for the fourth quarter and 2024, even in an economy that’s performing well.” The strategist said the odds of a rally in the fourth quarter were much lower given “narrowing breadth, cautious factor leadership, falling earnings revisions and fading consumer and business confidence.”

    Tyler Durden
    Mon, 10/30/2023 – 20:20

  • 60 Million Americans Under Freeze Alerts As Powerful Arctic Blast Crashes Temps Nationwide
    60 Million Americans Under Freeze Alerts As Powerful Arctic Blast Crashes Temps Nationwide

    As highlighted in last week’s article (view here), temperatures across the Lower 48 are diving as a cold blast pours in from Canada. These bone-chilling temperatures come just in time for Halloween. About 250 million Americans are feeling below-average temperatures, while 60 million will be under frost or freeze alerts.

    According to private weather forecaster BAMWX, the cold air invasion has already begun:

    A lot of record cold lows on the table to start out November. 20s all the way down to Central Texas with temperatures 15 – 20F below normal.

    We first called for a major Halloween cold front 2 weeks ago and it is here. 

    Fox Weather said the cold blast will affect more than “250 million Americans from coast to coast,” while 60 million Americans, from Big Bend of Texas to the Great Lakes and Ohio Valley, will be under cold weather alerts. 

    Meteorologist Beau Dodson said the worst cold weather will be on Wednesday morning. He showed on a map where “new record low temperatures will be possible.” 

     “Temperatures plunged across Texas now more than 30°F below normal for Oct 30th. Overall the Lower 48 is an astounding 13°F below normal,” meteorologist Ryan Maue said

    This is wild! 

    … and this. 

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

    Bloomberg data shows the cold shot will be short-lived. However, Lower 48 temps are expected to drop again by mid-month. 

    Recall it feels like just yesterday when corporate media was pushing climate misinformation by attempting to persuade the public that Earth was recklessly spiraling into a boiling crisis. 

    Also, remember, NOAA had to run far away from lying corporate media about the “hottest day ever.” At the same time, 1,600 scientists around the world signed a declaration declaring there was no climate emergency

    We penned several notes that an El Nino winter could leave some parts of the Lower 48 with a cold and snowy winter: 

    New snow forecasts for the Mid-Alantic show a snowy winter from DC to NYC. 

    But-but-but corporate media said the Earth is boiling… 

    Time to buy a snowmobile?

    Tyler Durden
    Mon, 10/30/2023 – 20:00

  • Is Bitcoin Deflationary? And What To Expect Next?
    Is Bitcoin Deflationary? And What To Expect Next?

    Submitted by Seth Chalnick (@seth_oshi),

    Inspired by this ZeroHedge article about the Cantillon Effect, a friend asked me today if I follow how Bitcoin is perceived as “deflationary”?

    This came within the context of a broader discussion about “fiscal dominance” as it relates to market-breaking events imploding in real-time.

    My response follows…

    Excellent article explaining the Cantillon effect… i.e. how those closest to the printing presses benefit not just disproportionately, but at the expense of everyone else.

    And who can blame them? Centralization leads to more centralization, as oligopolies across different verticals align incentives to play ball. It is, in fact, probable that most of us complaining today would also quietly accept a multibillion dollar payout, if it “just meant that” innocent citizens halfway around the world would die as a result. Especially if plausible deniability couldn’t directly link it back. Especially if we could justify it as a “greater good”. Not saying we would, but its pretty fucking clear as day that others would… and that this is also how the world has always worked, since arguably before man first harnessed the power to create a surplus.

    But life has a funny way of balancing out. See guillotines, viruses, and schoolyard bully resolution for reference.

    In my opinion, Bitcoin gets misclassified as “deflationary” because people conflate theorical (cyclical?) price declines with an eventual fixed supply of money. Basically they take fiscal (Keynesian) and/or Monetary (Friedman) and/or MMT (idiotic) square peg world views, based on their own malincentives or fears, and rationalize them into round holes screaming FUD (fear/uncertainty/doubt) to justify the status quo and cognitive dissonance.

    Bitcoin will actually continue to be “inflationary” until the year 2140, when the last bitcoin will have been mined.

    That’s 117 years away.

    What Bitcoin actually is… is disinflationary… because people are incentivized to save it rather than spend it, and to make sound investments with it, rather than foolishly levered ones, and to build generational low-time-preference projects, like bridges, universities, infrastructure, cathedrals, artwork, etc… versus spending FIAT now on high-time-preference items, because it will be worth less (worthless?) in the future, such that gambling, fast food, leverage, and immediate gratification get drawn like moths to the lights of extreme celebrity, cancel culture, debauchery, depravity, etc.

    Look at all the historical great civilizations. Most of everything meaningful was built during gold standard periods. Bitcoin is popularly viewed as having an erratic valuation, something that moves quickly and beyond our control. In periods where gold was not messed with it became stable. That is, until its derivatives became corrupted. Which is perhaps a tendency of human nature itself, but not inevitable.

    Bitcoin is currently undergoing an adoption phase, quite similar but opposite to the Cantillon effect. Those in early, who can withstand the wild swings, will benefit disproportionately, outperforming every other asset class. But it will inevitably settle down. And it will subsume or at least check and balance FIAT/CBDC. And it may very well lead to a gold 2.0 standard. Because it is better than gold in every way (except industrial use). And it is notably more defensible than gold from derivative dilution… because gold has no open source distributed ledger.

    Bitcoin is in fact slightly deflationary, in that people can lose their private keys to their bitcoin holdings, and lose it forever, thereby making the rest of the pool more valuable. But this is a small fraction, and will decrease over time, as bitcoin education increases, and custody solutions simplify. This happened a lot in the beginning, because people didn’t know what they were sitting on. Now that its valuable, people either safeguard it or get scared away from it altogether.

    Circling back to why it gets a bad rep as deflationary… the primary reason is because the masters of the universe cannot inflate it. They can’t print it. They can’t finance wars with it. They can’t steal its citizens’ life force with it. They can’t hide behind the justification of “saving the world from depression” during the next financial crises. Case in point… compare 2008 banking crisis with the SBF blowout. 2008 was “fixed” by inflating the bubble of the next generation to grotesque proportions. SBF got exposed for the ponzi he was, and what, 5 months later, we’re within $5k price pre-crisis?

    Everyone talks about the Great Depression and how we “learned our lessons” to avoid it. Compare the Great Depression with the lesser known depression of 1920-1921. 1920 was the single most deflationary year we ever had. It was extremely painful. Shit burned. And then the economy roared back. What we “learned” was how to more efficiently transfer wealth to the rich. That, and to use war as a vehicle for stealing other people’s lives, possessions, and future life force.

    In the end, Bitcoin offers a way to vote with your feet, a parallel system that doesn’t care about your feelings, that will reward those who see its inevitability, that has rules with no rulers, that is incorruptible and beyond the scope of governmental control.

    Personally, as geopolitics implode, markets dislocate, and the financial world starts to break… I have never been more bullish or higher conviction on Bitcoin:

    • The ponzis washed out

    • ETF approval will not only infuse billions in capital, but more importantly, blast a positive feedback loop of credibility onto the world stage

    • The next “Halving” starts in about 6 months, which mathematically cuts the new supply creation by 50% every four years, which if past is prologue, will start the next bull run

    • The next bull run will ramp up in tandem with the next presidential election shit show, and at least two 2nd-tier candidates potentially representing the tying vote are very much pro-bitcoin

    • The FACT that I introduced three years ago… namely that the US Dollar has LOST its world reserve currency status… will slowly, painfully, begrudgingly… make its way into the American zeitgeist… and Bitcoin will be taken seriously as a vehicle for flight to quality. Smart money (i.e. Larry Fink, Blackrock) is already calling it that.

    Now ask yourself… is it more likely:

    • That spending on social services, military, and debt service repayment will increase or decrease?

    • That rates remain high enough for longer (if not higher) or decrease all the way back to 1%, which is what it would take to keep the ponzi alive?

    • That investors will demand more interest, or accept less interest, on the money they loan the US, now that our currency is debasing at an ever faster pace?

    • That other countries will sell or buy US treasuries to insulate themselves from potential sanctions, and while we head into dollar weakness?

    • That investors will buy Bitcoin, a .5t market cap with no sustainable derivative market, or Gold, a 10t market cap with artificial price cap, opaque ledger, and difficulty safeguarding?

    • That a material number of the world’s 50 million millionaires will want at least 1 bitcoin?

      • Which is problematic… because there are only ~19 million bitcoins minted. Guess what happens to the price when they do start competing… in a market where 85% of supply has not changed hands… EVEN DURING THE SBF DEBACLE.

    When the world was down on TikTok and the mob tried to lynch it. Why didn’t they? Because they couldn’t. Try messing around with bitcoin and finding out. When only five people have cell phones, they have cute walky-talkies. When third-world villagers have them, the network changes the world. Get ready for Bitcoin’s network.

    Bitcoin is a vote against Davos. Against the Uniparty. Against the Fed. Against censorship, high-timepreference, depravity, cancel culture, vaccines, the war machine, pronouns, gun control, and everyone who doesn’t surf.

    Tyler Durden
    Mon, 10/30/2023 – 19:40

  • Soros-Backed Activist District Attorney Gets Robbed – Becomes Victim Of Her Own System
    Soros-Backed Activist District Attorney Gets Robbed – Becomes Victim Of Her Own System

    Alameda County District Attorney Pamela Price is no stranger to controversy.  She raised eyebrows after she received at least $130,000 from George Soros during her failed 2018 election bid, then won in 2022 on a campaign of radical criminal reforms for the Oakland area.  Her primary position?  That minorities are disproportionately targeted by law enforcement and the criminal court system and that “equity” policies would stop the rising crime rate.

    Price has made headlines in the past for various suspect behaviors and decisions.  Not long after taking office she hired her boyfriend, Antwon Cloird, to her office as a “senior program specialist” with a six-figure income.  She then tried to interfere in a triple-murder-for-hire case, creating a plea deal for the defendant and reducing his sentence down to a maximum of 15 years even though he was eligible for 75 years.  The presiding judge blocked Price’s plea deal, but dropped two charges.  Price accused the judge of bias and said he should no longer be allowed to preside over criminal cases.     

    Pamela Price’s methods have so far been a disaster for the Bay Area.  Skyrocketing crime (41% increase in burglaries and 20% increase in robberies) has led to Alameda residents demanding a recall of the far-left activist DA.  Alameda and the surrounding metro area does not report full violent crime data and will not provide such information to the FBI until 2024-2025.  Violent crime rates are estimated to have risen at least 20%.  Residents say Price’s soft-on-crime antics are making things far worse for the community and costing innocent lives.  

    Ironically, Price has become a victim of her own policies.  The DA had her car broken into and was robbed this week, items including a laptop were taken; the break-in happened in broad daylight at 3pm at 27th Street and Telegraph Avenue, near the Alameda County Family Justice facility.  When Price attempted to call police to investigate the crime, she waited an hour for a response, then was forced to file a report online.  Lack of adequate law enforcement presence and the refusal to prosecute, often based on race, have been cited as the biggest catalysts for the Bay Area’s swift social and economic decline.

    Tyler Durden
    Mon, 10/30/2023 – 19:20

  • The Counterculture Everyone Forgot
    The Counterculture Everyone Forgot

    Authored by Charles Hugh Smith via OfTwoMinds blog,

    Rather than mocking the Counterculture, we would benefit from re-acquiring its values that favored frugality and the ownership of skills, work, enterprise and land.

    Mention the Counterculture of the 1960s and 1970s, and the memory stored in popular culture is of drug-dazed, half-naked hippies dancing to rock music. There was a slice of that, to be sure, but there was much more that’s largely been forgotten:

    The Counterculture was primarily a response to the meaningless debt-dependent consumerism that had already taken hold of our society and economy. The core values of the Counterculture Everyone Forgot were:

    1. Learning how to make and repair things oneself

    2. Frugality

    3. Rejection of debt

    I submit that the value of these life precepts will become increasingly visible and necessary. As I’ve explained before, reliance on debt incentivizes the most destructive and unsustainable traits of human nature: choosing the painless, sacrifice-free option of pushing costs into the future, the removal of any incentive to become more productive and efficient, and the optimization of the illusion that the future will painlessly be able to not just service the current mountain of debt but an entire mountain range of debt that will pile up as our borrowing increases.

    The emptiness and meaningless of consumerism has reached levels which are now actively destroying our health, as I laid out in gory detail in The Profitable Destruction of Americans’ Health. The optimization of maximizing profit via monopoly/cartel profiteering, planned obsolescence and shrinflation (getting less while paying more) has stripped products and services of durability, so everything we buy is on a conveyor belt to the Landfill–the perfection of our Waste Is Growth Landfill Economy.

    This conveyor belt of squandered wealth looks sustainable as long as debt can skyrocket at near-zero rates of interest. But those days are gone, never to return. Borrowing more money now costs money, and so long after the unrepairable, low-quality gew-gaw is rotting away in the landfill, the debt used to purchase it lives on, eating the borrower alive.

    The secular bible of the Counterculture was the Whole Earth Catalog, a collection of quality American-manufactured tools and products designed for durability and productive use. In other words, things that aren’t consumed, they’re used to generate value. This concept has largely been lost: human beings are not productive beings, we’re consumers, whose very identity anf existence flows from buying more of everythingI shop, therefore I am.

    The depravity of borrowing money to squander on things of questionable or temporary value was visible 60 years ago, and the depravity will soon consume all those who believe this system is sustainable. What’s the opposite of a depraved dependence on debt to buy stuff of questionable or temporary value? Buying tools with cash and learning how to use them to create value for oneself, one’s household and one’s community, and consume / share / sell what one produces.

    The Counterculture questioned the value of debt and consumerism, and sought to return to the bedrock skills and values of the pre-debt/consumerism era. These included frugality–waste not, want not–in service of saving up and paying cash for everything rather than borrowing money, and in reducing dependence on the exploitive system of labor, where one sells their time (i.e. their life) for the dubious benefits of a wage.

    The favored Counterculture alternative was to own your own work, own your own tools and own your own land. And by “own” we mean “own free and clear,” i.e. zero debt.

    One of the more popular books of the Counterculture era was How to Live on Nothing (1/1/71), an exaggeration of course, but nonetheless it offered a practical guide to spending as little as possible, for it was understood that frugality equals freedom and debt equals servitude.

    In my own work, I’ve strived to offer alternatives to piling up debt / servitude. My book Get a Job, Build a Real Career describes an alternative to accepting a lifetime of debt /servitude for a university degree of questionable value–learn how to accredit yourself.

    My book Self-Reliance in the 21st Century lays out a framework for increasing self-reliance by reducing exposure to systemic fragilities and vulnerabilities, and assembling real-world skills and assets rather than pile up more debt or depending on a government funded by debt.

    Our first house was a micro-house constructed with hand tools as there was no electrical service onsite. Those who know how can do quite a bit with a sharp handsaw and other basic tools. A few years later, when we were 26 years of age, we built a “real house” ourselves, subcontracting the electrical and plumbing asd required by local building codes. We took out a local bank loan for $5,000 to finish the house and paid it off in less than two years. (In today’s money, that’s $17,500.) Then the house was ours, free and clear.

    Frugality in service of saving and paying cash for durable value really is freedom. So is knowing how to do things so you don’t have to pay others to do what you could have done yourself.

    Rather than mocking the Counterculture, we would benefit from re-acquiring its values that favored frugality and self-reliance, the ownership of skills, work, enterprise and land, sharing knowledge with others and a rejection of debt as needless servitude.

    These values don’t disappear with financial success, for they are the bedrock of financial success. Here are my work slippers and my dress slippers, for going out into the world looking my best:

    *  *  *

    My new book is now available at a 10% discount ($8.95 ebook, $18 print): Self-Reliance in the 21st Century. Read the first chapter for free (PDF)

    Become a $1/month patron of my work via patreon.com.

    Subscribe to my Substack for free

    Tyler Durden
    Mon, 10/30/2023 – 19:00

  • Tucker And Farage: Why Aren't Muslim Countries Taking Muslim Refugees?
    Tucker And Farage: Why Aren’t Muslim Countries Taking Muslim Refugees?

    Tucker Carlson sat down with former UK politician Nigel Farage to discuss where refugees from current conflicts in the Middle East should go, considering that there will be “hundreds of thousands, possibly millions” of them in the coming weeks, months and years.

    Carlson posited a scenario in which Israel is asked to take in refugees who hate them.

    “So if you were to suggest ‘well why isn’t Israel take them in, it’s their War’, the response you would get would be… ‘that’s insane these people are dangerous.'”

    Likewise, a country with Christian roots such as the United States – which feels it should try to help people, should remember that “the duty of any government its primary duty is the Integrity of its own country and its citizens,” Carlson continued.

    Carlson then observes that there’s a distinct lack of voices calling for countries with booming economies, such as China, to bear the refugee load. Why instead are Christian countries, historically bastions of refuge, the only ones saddled with this “obligation”?

    “It’s interesting that no one ever says well China’s got the fastest-growing economy in the world they have an obligation to take in millions of refugees,” he said.

    Farage noted the UK’s “great history in the UK of taking refugees,” noting that “they did very, very well in Commerce, Finance, the military in our country,” in terms of persecuted groups that the country has taken in throughout history.

    But juxtapose this with the recent waves of refugees, and a disturbing pattern emerges. A significant number of these refugees, especially from regions like Gaza, are potential sympathizers of extremist groups like Hamas. Given the spate of extremist-driven incidents in the West, particularly in the UK, one can’t help but wonder: are Western countries knowingly or unknowingly sowing the seeds of their own societal unrest?

    “So if you take any significant number from Gaza into our country, you will have a significant percentage of Hamas sympathizers and supporters among them,” said Carlson.

    To which Farage replied: “And if anyone should take them Tucker, shouldn’t it be the Egyptians? Shouldn’t it be the Saudis? Shouldn’t it be their co-religionists in that part of the world? And how interesting that Saudi Arabia didn’t take a single person from Syria because they were worried of the impact it would have on Saudi Society. Right. And the same goes for Egypt.”

    Marxism and ‘conservative cowardice.’

    According to Farage, “We have allowed the virus of Marxism to take hold in our countries,” noting how Britain and the United States are being indoctrinated with a toxic blend of guilt over their colonial pasts, allegations of institutional racism, and a host of other divisive narratives. All the while, conservative voices, which could counter this downward spiral, remain silenced by a spineless media establishment.

    Conservative cowardice through politics and media has led to so very much of this,” he continued.

    Watch:

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

     

    Tyler Durden
    Mon, 10/30/2023 – 18:38

  • Biden Policies Delivered $50-$60 Billion To Iran
    Biden Policies Delivered $50-$60 Billion To Iran

    By Adam Andrzejewski of Open the Books Substack

    By making concessions to the Mullahs who operate the world’s largest state sponsor of terror, the Biden Administration has directly or indirectly pumped more than $50 billion into their coffers enabling untold violence and international destabilization, threatening our our allies and implicating our energy supply chain – just as the Administration also instituted unprecedented handcuffs on U.S. energy independence.

    It allowed the sale of Iranian oil worth approximately $40 billion.

    It allowed the sale of electricity to Iraq, bringing in an estimated $10 billion to the regime.

    Most recently, it released another $6 billion to Iran in Iranian cash. Fortunately for all, the current custodian of that cash, Qatar, has agreed to hold onto those payouts for now.

    Despite universal opprobrium and hard sanctions on Iran, Yale University and The Johns Hopkins University have partnered with Iranian entities for research in country since 2013 on the U.S. taxpayer’s dime. Both universities hold massive endowments and don’t need the taxpayer’s help. Furthermore, both were recently criticized for not rebuking the Hamas terrorist attacks on Israel.

    KEY BACKGROUND

    Iranian Oil: The Mullahs increased oil exports by about 1.5 million barrels a day during Biden’s presidency according to The Committee to Unleash Prosperity founded by the economists Stephen Moore, Lawrence Kudlow, Arthur Laffer, and Steve Forbes:

    “This has put roughly $40 billion more into the coffers of the Iranian government,” according to the committee’s investigation.

    Loosening Iranian oil sanctions accompanied decline in domestic U.S. oil production by some 700 million barrels a year, thanks to the administrations resolute anti-fossil fuel polices.

    The Wall Street Journal wrote, “there’s no question the U.S. decision to ease enforcement of oil sanctions against Iran has aided Israel’s enemies.”

    By not enforcing oil sanctions, cash flowed to Tehran, which then had billions more to fund Hamas, Hezbollah and other terrorist groups.

    The Organization of Petroleum Exporting Countries, or OPEC, reports Iran’s oil production jumped more than ten-percent from 2.6 million barrels a day in April, to 3 million in August.

    Richard Goldberg of the Foundation for the Defense of Democracies points out that not enforcing Iranian oil sanctions also helps China: Iran’s oil increased production can’t be accomplished by sanction evasion alone.

    “That number likely reflects a policy of non-enforcement of sanctions,” Goldberg said. “With the administration pursuing so-called ‘de-escalation’ policies with both Iran and China simultaneously, tacitly approving increased Iranian oil exports to China is one way the White House can offer concessions to both regimes.”

    Reuters reported on the increased OPEC output: “Iran, which has been boosting supply despite U.S. sanctions, also pumped more, with output hitting the highest level since 2018.” That’s the year Washington re-imposed sanctions.

    Iranian electricity: Earlier this year, Iraq made another $10 billion in frozen assets available to pay for natural gas that Iraq buys from Iran.

    U.S. sanctions prevent Iraq from paying Iran directly for the gas, and Tehran had cut supplies, plunging already electricity-starved Iraq into blackouts. That lead to an Iraqi plan to barter with Iran, sending its oil as payment for Tehran’s natural gas.

    $6 billion in unfrozen Iranian assets: The Wall Street Journal news side published an exclusive on October 8th, that since August, Iran helped plot the Hamas attack on Israel.

    It’s impossible to miss that this took places as the Biden Administration unfroze $6 billion in disputed Iranian funds.

    In the communique announcing the accord, the U.S. agreed to release five Iranians held in the U.S. and the $6 billion, in exchange for freeing five U.S. citizens illegally held in Tehran. For the Mullahcracy, crime pays — they got their guys and the money.

    The funds at issue had been in South Korea. The money was transferred to Doha, Qatar, along with a fig leaf suggesting they will be expended only for “humanitarian” spending, such as food and medicine. Obviously, $6 billion for food and medicine frees up another $6 billion for terror and violence.

    As The Hill said, “Iran has access to $6 billion that it did not have access to three months ago.”

    Secretary of State Antony Blinken insists the money wasn’t used to attack Israel.

    “Not a single dollar from that account has actually been spent to date,” Blinken said. “It’s very carefully and closely regulated by the Treasury Department to make sure that it’s only used for food, for medicine, for medical equipment.”

    Somehow, the Biden Administration, which is expert in spending other people’s money, simply cannot understand the $6 billion boost it gave to terrorists.

    U.S. federal grants spent in Iran: Our auditors at OpenTheBooks.com searched the federal checkbook for direct payments to entities in Iran and found that U.S. agencies have funded American universities doing work in Iran with Iranian institutions.

    It’s unclear how this partnership happens when U.S. sanctions are in place.

    From 2016 to 2021, the U.S. Department of Health and Human Services gave Johns Hopkins University $538,000 in the form of a mental health research grant for a project the university did in conjunction with Tehran Medical Science University – a subdivision of the Iranian government.

    The description states a contract

    “will cover effort for Dr. Larry Wissow [Johns Hopkins] to have the role of co-pi of the grant. Activities will include weekly meetings with Dr. Mojtaba the other co-pi and with Dr. Sharifi, the leader of the Iranian research team, to oversee the ongoing conduct of the project. Dr. Wissow will have primary responsibility for drafting analysis plans and for creating the de-identified data set that will be deposited with NIMH. He will also participate in drafting and submitting manuscripts developed from the study data.”

    For perspective on its spending, Johns Hopkins’ spokeswoman Jill Rosen pointed to the university’s position of leading the nation in research spending for the 43rd consecutive year, with $3.2 billion spent in FY 2021.

    The National Science Foundation also funded $17,000 for Yale University to do doctoral dissertation research in Iran.

    Both universities have large endowments — $40.7 billion for Yale, and about $8 billion for Johns Hopkins — and Yale, among other Ivy League schools, is being criticized for not rebuking the Hamas invasion of Israel. 

    TROUBLING INTEL

    U.S. officials won’t say that Iran “gave the green light” to Hamas to attack Israel, as reported in The Wall Street Journal, or otherwise was directly involved in the planning or funding of the Oct. 7 attack.

    But U.S. National Security Advisor Jake Sullivan said in an October 10th White House press briefing:

    “Iran is complicit in this attack in a broad sense because they have provided the lion’s share of the funding for the military wing of Hamas, they have provided training, they have provided capabilities, they have provided support, and they have had engagement and contact with Hamas over years and years. And all of that has played a role in contributing to what we have seen.”

    Sullivan continued, “Now, as to the question of whether Iran knew about this attack in advance or helped plan or direct this attack, we do not — as of the moment I’m standing here at the podium — have confirmation of that.”

    According to unclassified U.S. documents,

    ‘‘Iran has historically provided up to $100 million annually in combined support to Palestinian terrorist groups, including Hamas, Palestinian Islamic Jihad (PIJ), and the Popular Front for the Liberation of Palestine-General Command.’’

    The U.S. knows Iran funds Hamas. Therefore: Freeing up $6 billion in a cash-for-hostages deal, trading $10 billion from Iraq for natural gas, or increasing Iranian oil output and revenues by $40 billion means America gave Iran billions in leeway it could use to empower Hamas, and indeed Iran’s entire terror network, to the detriment of our allies.

    CRUCIAL QUOTE

    ​​ “We know that there were meetings in Syria and in Lebanon with other leaders of the terror armies that surround Israel, so obviously it’s easy to understand that they tried to coordinate,” said Gilad Erdan, Israel’s ambassador to the United Nations. “The proxies of Iran in our region, they tried to be coordinated as much as possible with Iran.”

    ADDITIONAL READING:

    Tyler Durden
    Mon, 10/30/2023 – 18:20

Digest powered by RSS Digest

Today’s News 30th October 2023

  • The Veil Of Silence Over Excess Deaths
    The Veil Of Silence Over Excess Deaths

    Authored by Sonia Elijah via the Brownstone Institute,

    Around the world, there has been a deafening silence over excess deaths from governments and the mainstream media, who not so long ago were quite fixated on the daily death toll for Covid. 

    On October 20th, a 30-minute adjourned debate (20 rejections later) on excess deaths in the UK House of Commons was finally secured by Andrew Bridgen, MP for North West Leicestershire and member of the Reclaim Party. 

    Bridgen began his speech to the sound of erupting cheers from the full, upper public gallery, in stark contrast to the almost empty chamber below. 

    Where were the hundreds of MPs who would normally sit shoulder to shoulder in the chamber? It appears, an increase in deaths of their constituents was not a pressing issue for them on that Friday afternoon. 

    We’ve experienced more excess deaths since July 2021 than in the whole of 2020, unlike the pandemic, however, these deaths are not disproportionately of the old, in other words, the excess deaths are striking down people in the prime of life but no-one seems to care. I fear history will not judge this house kindly. 

    Strikingly, excess deaths have been seen across all age groups, which Bridgen pointed out during his speech.

    The graph below shows the pooled weekly total number of deaths for all ages, from 27 participating countries: Austria, Belgium, Cyprus, Denmark, Estonia, Finland, France, Germany, Germany (Berlin), Germany (Hesse), Greece, Hungary, Ireland, Israel, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovenia, Spain, Sweden, Switzerland, UK (England), UK (Northern Ireland), UK (Scotland), and UK (Wales).

    Source: EUROMOMO

    According to the British Medical Journal, ‘Excess deaths are calculated as the difference between current numbers of deaths and those in a baseline year, and the excess can differ depending on the baseline and methodology used.’ 

    This important point on how excess can differ depending on the baseline used, was raised by Bridgen.

    ONS Manipulating the Data, Again

    Bridgen explained:

    ‘To understand if there is an ‘excess’ by definition, you need to estimate how many deaths would have been expected. The Organisation for Economic Co-operation and Development (OECD) used 2015-2019 as a baseline…Unforgivably, the UK ONS (Office for National Statistics) have included deaths in 2021, as part of their baseline calculation for expected deaths- as if there was anything normal about the deaths in 2021- by exaggerating the number of deaths expected, the number of excess deaths can be minimized. 

    Why would the ONS want do that?

    My early 2022 interview with Norman Fenton, professor of Risk Information Management at Queen Mary, University of London, revealed how the ONS had also been manipulating the data on deaths involving Covid-19 by vaccination status. 

    Fenton coauthored a paper analysing the ONS report: ‘Deaths involving COVID-19 by vaccination status, England: deaths occurring between 2 January and 24 September 2021.’ 

    The paper concluded that the ONS was guilty of ‘systematic miscategorisation of vaccine status’ and that the COVID-19 vaccines did not reduce all-cause mortality, but rather produced genuine spikes in all-cause mortality shortly after vaccination.

    The Backlog of Unregistered Deaths

    Bridgen went on to highlight a critical failure in how data on deaths are being collected.

    ‘There is a total failure to collect (never mind publish) data on deaths that are referred for investigation to the coroner. Why does this matter? A referral means that it can be many months and given the backlog, many years, before a death is formally registered. Needing to investigate a cause of death is fair enough. Failing to record when the death happened, is not. Because of this problem, we actually have no idea how many people died in 2021, even now. The problem is greatest for the younger age groups, where a higher proportion of deaths are investigatedThis data failure is unacceptable.’

    Excess Deaths in the Younger Age Groups

    My investigative report into child deaths following Pfizer/BioNTech mRNA vaccine revealed there was an increase in deaths in the 0-14 age group, around the time the mRNA vaccine was authorised in children, 12-15 years of age.

    Source: EUROMOMO

    Bridgen drew attention to the fact that in a judicial review on a decision to vaccinate younger children, the ONS shockingly refused in court to give anonymised details (which they admitted was statistically significant) on the increase in excess deaths observed in the second half of 2021, for young adolescent males. Bridgen made the point that potentially even more excess deaths would have been observed, if those referred to the coroner had been included.

    Excess Deaths Observed in Heavily Vaccinated Countries

    In August 2023, fifteen EU Member States that recorded excess deaths, the highest rates were observed in Ireland (21.1 percent), Malta (16.9 percent), Portugal (12.7 percent) and the Netherlands (9.4 percent), according to Eurostat. It should be noted that, as of January 2023, Portugal had the highest COVID-19 vaccination rate in Europe having administered 272.78 doses per 100 people in the country, while Malta had administered 258.49 doses per 100. 

    Increase in Cardiac Arrests

    Bridgen, brought attention to the fact that Dr Clare Craig, diagnostic pathologist and co-chair of HART, was the first to highlight the increase in cardiac arrest calls after the vaccine rollout in May 2021.

    Bridgen stated:

    ‘Ambulance data for England provides another clue. Ambulance calls for life-threatening emergencies were running at a steady 2,000 calls per day until the vaccine rollout. From then they rose to 2,500 daily, and  calls have stayed at that level since.’

    Source: NHS Key statistics: England, July 2023

    Category 1: An immediate response to a life-threatening condition, such as cardiac or respiratory arrest. 

    The Anomalies of the Pfizer Clinical Trial

    Bridgen shared the fact that:

    Four participants in the vaccine group of the Pfizer trial died from cardiac arrest compared to only one in the placebo group. Overall there were 21 deaths in the vaccine group up to March 2021, compared to 17 in the placebo group. There were serious anomalies about the reporting of deaths in this trial, with the deaths in the vaccine group taking much longer to report than those in the placebo group. That is highly suggestive of a significant bias in what was supposed to be a blinded trial.

    An Israeli study clearly showed an increase in cardiac hospital attendances among 18-39 year olds that correlated with vaccination not covid. 

    Australia, the Perfect Control Group

    Bridgen explained that Australia had almost no covid when vaccines were introduced making it the perfect control group. 

    The state of South Australia had only had 1,000 cases of covid in total across the whole population by December 2021, before omicron arrived. What was the impact of vaccination there? For 15-44 year olds, there were historically around 1,300 emergency cardiac presentations a month. With the vaccine roll-out to the under 50s, this rocketed reaching 2,172 cases in November 2021 in this age group alone, which was 67% more than usual.

    Overall there were 17,900 South Australians who had a cardiac emergency in 2021 compared to 13,250 in 2018, a 35% increase. The vaccine must clearly be the No.1 suspect in this, and it cannot be dismissed as a coincidence. Australian mortality has increased from early 2021 and that increase is due to cardiac deaths.

    How the Regulators Have Failed

    The regulators also missed the fact that in the Pfizer trial the vaccine was made for the trial participants in a highly controlled environment, in stark contrast to the manufacturing process used for the public – which was based on completely different technology. Just over 200 participants were given the same product that was given to the public, but not only was the data from these people never compared to those in the trial for efficacy and safety, but the MHRA has admitted that it dropped the requirement to provide this data. That means there was never a trial on the Pfizer product actually rolled out to the public, and that product has never even been compared to the product that was actually trialled.

    The vaccine mass production processes use vats of Escherichia Coli and presents a risk of contamination with DNA from the bacteria, as well as bacterial cell walls, which can cause dangerous reactions. This is not theoretical; there is now sound evidence that has been replicated by several labs across the world that the mRNA vaccines were contaminated by significant amounts of DNA which far exceeded the usual permissible levels. Given that this DNA is enclosed in a lipid nanoparticle delivery system, it is arguable that even the permissible levels would have been too high. These lipid nanoparticles are known to enter every organ of the body. As well as this potentially causing some of the acute adverse reactions that have been seen, there is a serious risk of this foreign bacterial DNA inserting itself into human DNA. Will anyone investigate? No they won’t.

    The BBC’s Role

    How ironic that the BBC has chosen to remain utterly silent on the issue of excess deaths, despite its ardent daily coverage of the Covid death toll. 

    In regards to vaccine injuries, the BBC took a far more proactive role. The public broadcaster took it upon itself to collaborate with Facebook to take down the online pages of Covid-19 vaccine injury groups, by drawing attention to the fact that these groups used carrot emojis to circumvent Big Tech censors. 

    Many viewers of Bridgen’s speech took to social media to draw attention to the fact that the BBC also took it upon itself to plaster the debate with its own captions, in an attempt to contradict what the MP was saying. 

    One caption read: The NHS says COVID-19 vaccines used in the UK are safe and the best protection from getting seriously ill with the disease.

    What is interesting is that Bridgen did not mention vaccines and autism during his debate but this did not stop the BBC from inserting the caption below.

    ‘NHS guidance states vaccines do not cause autism, there is no evidence of a link between MMR vaccine and autism.’

    It must be noted that the BBC helms the Trusted News Initiative (an alliance of Big Tech and the mainstream media) set up in 2019 to combat ‘anti-vax misinformation’ in real-time. Therefore, its collaboration with Facebook to censor stories on vaccine harms; the lack of any coverage on excess deaths and the more recent captioning of Bridgen’s speech – shows just how effectively it has executed that role. 

    In Conclusion

    Bridgen closed the debate by stating the following:

    The experimental covid-19 vaccines are not safe and are not effective. Despite there being only limited interest in the Chamber from colleagues—I am very grateful to those who have attended—we can see from the Public Gallery that there is considerable public interest. I implore all Members of the House, those who are present and those who are not, to support calls for a three-hour debate on this important issue. Mr Deputy Speaker, this might be the first debate on excess deaths in our Parliament—indeed, it might be the first debate on excess deaths in the world—but, very sadly, I promise you it will not be the last.

    Republshed from the author’s Substack

    Sonia Elijah has a background in Economics. She’s a former BBC researcher and now works as an investigative journalist.

    Tyler Durden
    Mon, 10/30/2023 – 02:00

  • Malone: The White House Is Controlled By The Medical-Industrial Complex
    Malone: The White House Is Controlled By The Medical-Industrial Complex

    Authored by Robert Malone via Substack,

    A bit of knowledge about “public health” can be a dangerous thing when financially conflicted partisans control the executive branch…

    Last February, the serving White House (WH) Chief of Staff (COS) quietly resigned, and a new one was ushered in. But a comparison of the outgoing and incoming WH Chief of Staff demonstrates striking similarities. A careful reading of the bios of Biden’s two chief of staff picks reveals a disturbing trend. Both choices appear consistent with – first and foremost – the capture of both the “health”-related administrative state and the levers of the Biden administration itself by the pharmaceutical-medical industrial complex.

    Why is this important? Because the WH Chief of Staff is the most critical political appointee of the President, and functionally serves as the head of the Executive Office of the President of the United States in addition to being a cabinet position. The position is widely considered the most important and powerful job in the Executive branch of the US Government, next to the sitting POTUS.

    In the case of a feeble or incapacitated president, the WH Chief of Staff essentially acts in place of the President. Given the ascendency of the power of the Executive Branch and its permanent Administrative State bureaucracy over the judicial and legislative branches, this appointed position functionally runs the country.

    The job entails:

    • “Selecting senior White House staffers and supervising their offices’ activities;

    • Managing and designing the overall structure of the White House staff system;

    • Control the flow of people into the Oval Office;

    • Manage the flow of information to and decisions from the Resolute Desk (with the White House staff secretary);

    • Directing, managing and overseeing all policy development;

    • Protecting the political interests of the president;

    • Negotiating legislation and appropriating funds with United States Congress leaders, Cabinet secretaries, and extra-governmental political groups to implement the president’s agenda; and

    • Advise on any and usually various issues set by the president.

    • The firing of senior staff members.” (wiki)

    The Chief of Staff is essentially given the keys to the White House. This position clearly has much more power than the Vice-president, and yet the job is not only an unelected one, but it is also not confirmed by the Senate.

    Why do I assert that Biden’s choices for WH COS demonstrate the functional capture of the White House by the pharmaceutical-medical industrial complex?

    Biden’s first Chief of Staff was Ron Klain. He was Biden’s Chief of Staff when he was vice-president under Biden. During that time, he initially transitioned from managing the allocation of stimulus funds to becoming the Ebola response coordination under Obama. The Ebola response was an “all-hands” government effort, due to a case of Ebola actually occurring on American soil, and the risk that this particular variant might become able to infect via the respiratory tract (thanks to fearporn primarily promoted by Dr. Osterholm).

    Prior to and after Obama’s presidency, Mr. Klain was the executive vice president for Revolution, an investment firm that invested in several healthcare companies, such as BrainScope, Everyday Health and Extend Health. “Extend Health” is now renamed “One Exchange” and is a leading provider of health care solutions for Medicare-eligible individuals.

    After his time in the Obama White House, Klain also became an external advisor for the Skoll Foundation, whose website lists as a main strategic priority the strengthening of global health systems and presenting pandemics. He held this position until his selection to serve as WH Chief of Staff under Biden.

    Ron Klain has worked at high levels in the Clinton, Obama and now Biden’s White House administration. His time in the White House has been punctuated by stints in the corporate world. Hence, he has see-sawed between government and industry, at the highest levels – leveraging both for power, influence and money. By serving in various White House administrations in unelected positions which do not need confirmation by the Senate, he has avoided having to publicly disclose conflicts of interest.

    During his tenure in Biden’s White House, Klain pursued a vaccine-only strategy and directed White House messaging relating to this policy including that horrible White House statement saying the vaccinated have ‘done the right thing’ and the unvaccinated are ‘looking at a winter of severe illness and death for you and your families’. Adding insult to injury, Klain is the one that asserted that ‘The truth is the truth’ – remember that as Chief of Staff, Klain was directly responsible for “Directing, managing and overseeing all policy development”.

    The real “truth” of this whole situation is that the leadership of the Obama Ebola response team from 2014 was brought in to form the core of Biden’s White House operational management team, as documented in a November 2020 Politico article, just a week or two of Biden having “won” the election:

    Klain is one of a number of people Biden has tapped for his administration whose views on battling a health crisis were shaped by what happened in 2014. At an event in Wilmington, Del. last week, Biden highlighted how his just-announced pick for Homeland Security secretary, Alejandro Mayorkas, helped combat Ebola and Zika as part of the Obama administrationLinda Thomas-Greenfield, his pick for UN ambassador, “was our top State Department official in charge of Africa policy during the Ebola crisis,” Biden noted. And the former vice president praised Jake Sullivan, who served as his national security adviser during much of the Ebola outbreak, for “helping me develop our Covid-19 strategy”…

    .But many of the public health, communication and government mobilization lessons Klain and his team learned then are not only applicable now; they’re also at the core of Biden’s plan for tackling the pandemic when he takes office in January.

    Homeland Security Director Alejandro Mayorkas worked with Klain from 2001 to 2009 at the O’Melveny law firm. Which is interesting because this where Klain has now returned to the firm as a partner.

    This is how one arm of the government has become completely captured by the pharmaceutical-medical industrial complex via prior “public health emergency” response teams. The clear fact is that the Biden White House was only interested in a vaccine solution, despite the established fact that public health research long ago determined that a vaccine for a rapidly evolving respiratory virus would never succeed. People in the White House must have known this but disregarded that knowledge because either 1) they were corrupted, 2) they were deep in the mass formation psychosis and group think, or 3) they functioned as incompetent useful tools for others.

    I know that I personally spoke with Rep. Nancy Pelosi’s Chief of Staff in 2021 about these issues and had assurances that they would discuss the issues with a vaccine approach with the White House. That was the last I heard from them. This all leads me to believe that the resulting amazingly dysfunctional “public health” response was more about their own interests in making money and expanding political power than in developing an actual response that made sense.

    My experience working in the Ebola response on 2014 re-enforced a very different lesson than that of the Biden White House COVID policies. That is that vaccines would never be the answer to an ongoing outbreak. That medical counter measures must include a response that listens to hands-on physicians tinkering to find medical counter measures. That the generic, FDA approved medicines that have worked in the past for early treatments will work in the future. They are the first line of defense. Furthermore, non-respiratory infectious diseases versus respiratory infectious diseases will be very different from each other, in terms of public health responses. And finally, that the US intelligence community is deeply embedded in the bureaucracy that sets “public health” policies, particularly during infectious disease outbreaks, and works hand-in-glove with Bill Gates, WHO leadership, US State Department, and the giants of the BioPharmaceutical industry. Ron Klain’s White House called for an all-of-government response focused on vaccines and that is what they got (all of government meaning DHS, HHS, DoD, Department of State and CIA/IC). This response was developed and operationalized for Klain by Jeff Zients, who was President Biden’s COVID czar. Which brings us to Klain’s replacement.

    Let’s now focus our attention on the professional biography of the new Chief of Staff, Jeff Zients. Although Zients is purported to not have any “public health experience,” the truth is that he has spent his entire career milking the government out of money for his own medical-industrial complex investment funds. He has worked to continuously spin the revolving door between his businesses in the medical-industrial complex and the government- all to the benefit of public health, of course .

    Zients comes from an extremely wealthy family, who played a pivotal role in “health care services” since the 1990s. His father is known to have “helped” outsource veteran’s healthcare services to private industry way back when.

    Jeff Zients joined The Advisory Board Corp in 1992, where he helped “build a research company focused on “providing best practices research and host[ing] seminars for 2,500 health care industry members, including hospitals, insurers, pharmaceutical companies, and biotech firms.”  The Advisory Board achieved astounding financial success and became one of the “pillars of Washington society”.

    During the presidency of Barack Obama, Zients served as director of the National Economic Council from 2014 to 2017. He was also acting director of the Office of Management and Budget in 2010. He then led the emergency effort to fix Obama care after the troubled launch.

    During his tenure as director of the National Economic Council, Zients’ investment firm, Portfolio Logic – founded in 2003, settled a a multimillion-dollar suit with the Justice Department over allegations that its subsidiary health care firm committed Medicare and Medicaid fraud.  Portfolio Logic LLC was and is an investment firm initially focused on health care and business services. Portfolio Logic’s current valuation is around $182 million and it appears that Portfolio Logic is still privately held by Zients and his family, although information about Portfolio Logic has mostly been scrubbed from the Internet.

    While leading the Obamacare (ACA) roll-out, Zients also had an ownership position in PSA Healthcare. Which the Obama White house determined was not a conflict of interest.

    The “American Prospect” writes of Zients:

    Zients was a leader in implementing many of the Obama administration’s most pro-corporate policies. Zients owes his entire public-policy career to his corporate worldview and connections, which have remained strikingly consistent for over a decade—exactly in keeping with his pre-government history.

    In fact, a Fox News article documents that the Wikipedia page for Biden’s chief of staff was scrubbed to hide many of his corporate past dealings. This includes deleting the details in 2020 relating to Zients’ positions at Bain & Company, Portfolio Logic and Facebook. Although his Wiki page now mentions that Zients was CEO of Cranemere up until his leave in 2020, it does not mention that Cranemere Healthcare Services works in the healthcare ecosystem. As he is apparently still on leave from Cranemere, one can assume that he will resume his 1.6 million US Dollar compensation package per year from Cranemere upon leaving the White House.

    Jeffrey Zients’ is considered one of the wealthiest members of the Biden administration, and most of this money was inherited or made while working in the medical-industrial complex, which includes vast profits from the privatization of health-care and billing.

    Zients was part of Biden’s transition team and then started working for the Biden WH as his COVID czar. During this period, he was considered a “special government employee,” and so could continue with his private sector employment and was exempted from filing the public financial disclosures that normal staff must complete. Again, Zients formulated the vaccine only public health policy, including the mandate policies. He alone spoke to major Airline CEOs to insist on vaccine mandates.

    In January 2023, Zients became Biden’s Chief of Staff. Remember, that the position of Chief of Staff is the most important position next to the President. In this capacity, it appears that he has maintained the operational capture by the pharmaceutical-medical industrial complex of the executive branch of government initiated under Obama in the context of enacting and implementing the “Affordable Care Act”, ergo – the White House and President Biden.

    As Biden has proven to be a fragile and weak president, many believe that this has allowed Zients to seize the reins of executive power. Zients past history predicts that he will use this to further his own financial interests, which clearly represent a significant financial conflict of interest.

    The revolving door just doesn’t stop spinning, and it all seems to revolve most efficiently around Zients, the pharmaceutical-medical industrial complex and now future pandemic responses. Talk about the foxes in the hen house!

    Do not get distracted, 2024 looms large.

    *  *  *

    Who is Robert Malone is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

    Tyler Durden
    Sun, 10/29/2023 – 23:30

  • CVS Stores In DC Resort To Framed Photos Of Toilet Paper
    CVS Stores In DC Resort To Framed Photos Of Toilet Paper

    While Washington DC Mayor Muriel Bowser tries to restore ‘law and order‘ to the nation’s Capitol, local CVS stores aren’t waiting around – and have resorted to displaying photos of products on their shelves instead of the actual items themselves.

    Several tweets have been circulating, showing empty shelves aside from the framed photographs of toilet paper and other items, the National Pulse reports.

    Another DC CVS, in Columbia Heights, has placed items in locked cages.

    Another CVS location in D.C.’s Columbia Heights has placed many items behind locked cages, the aisles of empty shelves decorated with profane graffiti. Crime in the American capital has reached crisis levels. Violent crime is up 41 percent over last year – the city has seen a 33 percent increase in homicides and a 70 percent increase in robberies. According to D.C.’s Metropolitan Police Department theft is up 21 percent, with 10,673 incidents reported so far in 2023. Motor vehicle theft has seen a 101 percent increase compared to 2022. -National Pulse

    https://platform.twitter.com/widgets.jshttps://platform.twitter.com/widgets.jsOver the last month, DC’s homicide rate hit its highest level in 20 years, while auto thefts have more than doubled over the past year.

    “At a time when we’re dealing with historically low staffing levels, these amendments seek to make some common-sense changes recognizing the operational concerns our officers see every day, while also supporting police accountability and public safety,” said Mayor Muriel Bowser, who introduced legislation last week aimed at addressing crime trends, including organized retail thefts.

    During a Congressional hearing on violence two weeks ago, House Republicans criticized a “soft” on crime approach.

    “The crime we are seeing just a few blocks from this building is unprecedented,” said Rep. Andy Biggs (R-AZ), who chairs the Subcommittee on Crime and Federal Government Surveillance. 

    “The man who is in charge of prosecuting the criminals has abandoned his responsibilities, that’s Matthew Graves,” Biggs continued, referring to the US Attorney for DC.

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

     

    Tyler Durden
    Sun, 10/29/2023 – 23:00

  • Beijing Gets Going With Nine Weeks Left For 2023
    Beijing Gets Going With Nine Weeks Left For 2023

    By Charlie Zhu and Helen Sun, Bloomberg markets live reporters and strategists

    Three things we learned last week:

    1. China’s top leadership is finally making a concerted effort to get the economy and external relations back on track. A rare move to raise the budget deficit mid-year, along with President Xi Jinping’s unprecedented visit to the central bank, underscored a sense of urgency among policymakers to support growth.

    For starters, a plan to sell 1 trillion yuan ($137 billion) of sovereign debt over the last nine weeks of the year may finally be the bazooka many investors have been asking for earlier.

    Beijing’s diplomatic moves also provided cause for some optimism. Xi sat down with California’s Gavin Newsom, the first time he met a US state governor in more than six years. Foreign Minister Wang Yi’s US trip has also paved the way for a leaders’ meeting next month.

    The world’s two largest economies rebuilt communication lines on the economic and financial front. Two working groups which involve officials from the central banks, treasury departments, securities regulators held their first meetings last week respectively.

    China also invited US officials to a defense forum to be held this week. While thorny issues remain for the two, these developments help Beijing create a more stable geopolitical environment that serves as a precondition to woo back foreign investors.

    The benchmark CSI 300 Index posted the biggest weekly gain in two months. Foreign investors showed up via the northbound stock connect, buying for two consecutive days, the first time since early August.

    2. Those are of course not silver bullets for China’s challenges. Among them, an ongoing property crisis comes on top of the list. With former top developer Country Garden Holdings Co. deemed to be in default on a dollar bond, recent weakness in China Vanke Co. and Gemdale Corp.’s notes spurs concerns that the sector is still deep in the doldrums.

    Economic growth may drop below 3% in 2024 if the real-estate slowdown deepens, according to S&P Global Rating. Its base-case scenario is for growth rate to slow to 4.4%, down from Beijing’s targeted 5% this year.

    A series of arrests across industries, an investigation into Taiwan’s Foxconn Technology Group — the biggest private employer — along with the removal of Li Shangfu as defense minister without explanation, again shook the confidence of foreign companies.

    The recent reaction from market participants to earlier stimulus measures bear resemblance to the Tacitus Trap, Ken Cheung, Mizuho Bank Ltd.’s chief Asia FX strategist, wrote in a note, referring to a political theory where a government fails to win approval even for the right policies.

    While building confidence in the economy will require time, adopting more timely and targeted policies to address socio-economic issues can help mitigate the risk of falling into the trap, and enhance the effectiveness of the economic stimulus, Cheung said.

    3. China’s slowdown and financial risks are rippling through other markets and global businesses. Falling Chinese stocks are placing as much as $71 billion of structured products in South Korea at risk when they mature next year.

    Meanwhile, Standard Chartered Plc’s profit missed estimates in the third quarter, as the lender took a $186 million charge on Chinese real estate and an impairment of $700 million on China Bohai Bank. Nomura Holdings Inc. is overhauling its local business after losses there snowballed.

    Tyler Durden
    Sun, 10/29/2023 – 22:30

  • Hiking 401k Contributions Can Now Boost College Aid, Thanks To FAFSA Change
    Hiking 401k Contributions Can Now Boost College Aid, Thanks To FAFSA Change

    Thanks to new federal rules, boosting your pre-tax contributions to 401(k) and similar retirement plans may now increase your child’s access to federal financial aid. Another change makes grandparent-owned 529 plans more beneficial. 

    Pre-tax contributions are ones that aren’t exposed to current-year federal income taxation, but instead are taxed when withdrawn. They differ from Roth contributions, which are taxed in the current year but can be withdrawn tax-free in your retirement. 

    Until now, the Free Application for Federal Student Aid (FAFSA) asked parents to input their pre-tax retirement-plan contributions. The calculations then added that money back to arrive at the parents’ total income, which in turn increased the amount those parents were assumed to have available to pay for college, and thus reduced the child’s eligibility for aid.  

    You won’t need this professor’s help to complete the new FAFSA form, which simplifies the inputs 

    The revised FAFSA form, which is geared toward simpler calculations driven by data on income tax returns, won’t ask you about those retirement contributions, which means the more pre-tax money you add to your 401(k) or similar account, the higher your child’s chance of qualifying for federal handouts

    For 2023, the 401(k) maximum is annual contribution $22,500, or $30,000 if you’re 50 or older at the end of the calendar year. Note the FAFSA uses data from two years before the academic year you’re seeking aid for. Thus, 401(k) contributions you make in 2023 will effect the FAFSA math for the 2025-26 school year. 

    Debuting in December the new form will no longer use the term Expected Family Contribution, which caused confusion about its meaning. Instead, the key number will be a formula-driven Student Aid Index. 

    Because there are other numbers at play in the aid calculation, jacking up your contributions doesn’t guarantee you’ll get a FAFSA benefit. “This change will have the biggest impact on middle-income households that make around $100,000 a year,” reports the Wall Street Journal’s Oyin Adedoyin, citing financial advisors. 

    In another wrinkle, 529 plans owned by someone other than a student or the student’s parent won’t be included in the asset calculations, even if the student is the beneficiary. That puts generous grandparents and other relatives in a better position to help out.

    You can even add your own money to that 529 — but you better have high confidence in the account owner’s intentions. You should also ponder a scenario where that third-party 529 owner predeceases your college student. If no successor owner is named, the account might go through probate and end up in the hands of someone who’d prefer using the money to buy a new car.  

    Not all the FAFSA changes will make receiving aid easier:

    • The “sibling discount” — which previously cut applicants a break in situations where two kids are in college simultaneously — is vanishing
    • Parents will have to start reporting the value of small businesses they own. 

    Tyler Durden
    Sun, 10/29/2023 – 21:35

  • David Hogg Now Blames "White Woman In Suburbs" For Gun Violence
    David Hogg Now Blames “White Woman In Suburbs” For Gun Violence

    Anti-gunner and now ‘Harvard-educated’ David Hogg believes just because he went to an elite university (a university that is sympathetic to Hamas), he is the voice of reason when it comes to the Second Amendment. 

    The confused Gen-Zer’s latest post on X now shifts the blame of gun violence from ‘it’s the gun’ to ‘it’s white women in the suburbs’: 

     “We will never end gun violence until white woman in the suburbs stop voting for the republicans who are endangering our schools and communities by flooding them with guns.” 

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

    Hogg is not ready for this conversation, as his bigotry against white women in the suburbs is uncalled for as a recent poll from NYPost, citing Wallet Hub data, shows murder rates in Democratic areas, including Memphis, Tennesse; New Orleans, Louisana; Richmond, Virginia; Washington, DC; and Detroit, Michigan, with soft-on-crime policies, are surging. 

    Source: NYPost

    Instead of being sexist, Hogg might want to step foot in an imploding Democrat metro area, and there are many to choose from, such as Detroit and or Baltimore, where failed progressive policies, such as ‘defunding the police’ have descended these metro areas into a collapsing-state. 

    As for those white women in suburbia (in fact, any woman of any race) – they have a God-given right to use reasonable force, including deadly force, to protect their families and themselves against an intruder in their home – especially since the average police response time in suburbia can be ten minutes or more. 

    Just remember, Harvard-elite Hogg, as well as anti-gun groups Giffords and Everytown, some of which are funded by billionaires, want to disarm law-abiding citizens – at a time their Democrat friends across major metro areas are implementing disastrous policies that have sparked crime waves nationwide. 

    Hogg’s idiotic comments aren’t fooling average folks:

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

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

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

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

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

    Tyler Durden
    Sun, 10/29/2023 – 20:25

  • Breakthrough Study 'Infects' Animals With Human Alzheimer’s Through Microbiome
    Breakthrough Study ‘Infects’ Animals With Human Alzheimer’s Through Microbiome

    Authored by Amy Denney via The Epoch Times (emphasis ours),

    Researchers recently discovered that they could give young, healthy animals Alzheimer’s disease by transferring the gut microbiome of human subjects with Alzheimer’s into germ-free rats.

    (Lightspring/Shutterstock)

    Published on Oct. 18 in Brain, the findings solidify that the microbiome—the collection of bacteria, viruses, and fungi that live mostly in the colon—has a role in the development of Alzheimer’s, the most common form of dementia, affecting 6.7 million Americans.

    This study represents an important step forward in our understanding of the disease, confirming that the makeup of our gut microbiota has a causal role in the development of the disease,” King’s College London neuroscience professor Sandrine Thuret, one of the study’s senior authors, said in a statement.

    Our intestines are home to trillions of these microscopic bugs, which mostly live in symbiosis with the human body. Many factors, including antibiotics, glyphosate, medications, and stress, have been proven to kill beneficial microorganisms and cause an imbalance often referred to as dysbiosis.

    Exactly what causes the microbial shift in people with Alzheimer’s disease is unclear.

    “Bigger picture, it is likely that no one factor, food or lifestyle change will, on its own, reduce the risk of developing cognitive decline as we age,” Percy Griffin, Alzheimer’s Association director of scientific engagement, said in a statement to The Epoch Times.

    “Although this work is intriguing, it is still very preliminary. Larger studies in animal models, and then in humans, are required to make generalizations on what can be done in this area to reduce the risk of developing Alzheimer’s.”

    Transferring Impairments

    There were 69 healthy control subjects and 64 Alzheimer’s patients in the study. Patients with Alzheimer’s had a higher abundance of inflammation-promoting bacteria in fecal samples, and these changes were associated with their cognitive status. Those traits were then found through a battery of behavior tests in only the rats that were given transplants from Alzheimer’s patients.

    The memory tests we investigated rely on the growth of new nerve cells in the hippocampus region of the brain. We saw that animals with gut bacteria from people with Alzheimer’s produced fewer new nerve cells and had impaired memory,” lead author professor Yvonne Nolan said.

    Alzheimer’s disease’s link to the microbiome has already been explored in recent studies, although it’s been largely unclear whether the disease caused the dysbiosis or if—as this research indicates—alterations in the intestinal community cause symptoms of dementia.

    Mr. Griffin, who holds a doctorate in molecular cell biology from Washington University in St. Louis, noted that studies in rats don’t always indicate that similar findings will occur in the human body. To build credibility, the research needs to be replicated, he said.

    “This is an interesting study that adds to our growing understanding of how the bacteria in the gut may contribute to risk for Alzheimer’s disease. But this study is in rats, and rats are not people,” he said. “That said, these findings demonstrate a possible role for gut bacteria in affecting the areas of the brain that are (a) associated with memory and (b) involved in Alzheimer’s disease.”

    Presymptomatic Identification of Disease

    However, dysregulation of the microbiome could give early insights into disease, which has long been associated with systemic inflammation.

    “Understanding the role of gut microbes during prodromal–or early stage—dementia, before the potential onset of symptoms may open avenues for new therapy development, or even individualized intervention,” Ms. Nolan said. “People with Alzheimer’s are typically diagnosed at or after the onset of cognitive symptoms, which may be too late, at least for current therapeutic approaches.”

    A study in Cell Death and Differentiation in 2019 found that impaired neurogenesis is a biomarker for Alzheimer’s. Neurogenesis is the continued development of neurons that occurs in two parts of the adult brain, including the hippocampus, which is responsible for learning and memory.

    Remarkably, it has been recently described that neurogenesis persists in cognitively healthy people until the end of life, but drops off dramatically as AD [Alzheimer’s disease] pathology takes hold,” the study reads.

    New research is showing that neurogenesis impairment begins before amyloid-plaque formation, the clumping of protein pieces found in the brains of Alzheimer’s patients. Taken together, neurogenesis and the microbiome offer evidence that suggests that the disease can be identified in stages in which its development could be halted before symptoms set in.

    Alzheimer’s is the most common cause of dementia, which is marked by memory loss and other cognitive disabilities that interfere with daily life. According to the Alzheimer’s Association, 1 in 3 people are likely to develop Alzheimer’s.

    “Alzheimer’s is an insidious condition that there is yet no effective treatment for,” Ms. Thuret said. “This collaborative research has laid the groundwork for future research into this area, and my hope is that it will lead to potential advances in therapeutic interventions.”

    What’s Influencing the Microbiome?

    The microbiome is a key area of Alzheimer’s research worldwide due to its vulnerability to lifestyle and environmental factors.

    The Alzheimer’s Association is leading the U.S. POINTER study, which finished recruitment in March and is expected to begin reporting results in 2025. The two-year clinical trial is evaluating whether lifestyle interventions that simultaneously target many risk factors can protect cognitive function in older adults who are at increased risk for cognitive decline.

    “All of our body systems are interconnected, and it is important to understand how they work together to impact the risk and resilience against Alzheimer’s,” Mr. Griffin said. “For ongoing and overall good health, people should speak to their doctors about their digestive health and ways to keep it operating healthfully, such as drinking enough water and eating enough dietary fiber.”

    He’s hopeful that the POINTER study will help determine a sustainable, community-based lifestyle intervention recipe to reduce the risk of developing cognitive decline as we age.

    It’s the kind of work that some organizations have already been doing, even without studies that fill in the blanks of causation with Alzheimer’s disease.

    Dr. Dale Bredesen has been reversing symptoms with a research-based protocol. Sharp Again Naturally offers programs that address nutrition and create a healthy gut microbiome to help participants preserve and improve their brain health.

    The new study is hopeful, according to the board chair of Sharp Again Naturally, Steve Ledvina, who’s also a certified health and wellness coach and the founder of Knowing Alz.

    This exciting study extends the evidence for the strong connection between the gut microbiome and the brain and suggests poor gut health has a causal role in Alzheimer’s symptoms,” Mr. Ledvina wrote in an email to The Epoch Times. “For individuals, it emphasizes that intentionally maintaining or healing our guts and promoting a healthier gut microbiome is essential to keeping our brains healthy.”

    He said potential causes of poor gut health include excessive sugar or alcohol consumption, antibiotics or other gut-disrupting medicines, and stress.

    “We can promote our gut health by eating prebiotic fiber in vegetables like asparagus and artichoke hearts and probiotics like sauerkraut, kimchi, and low-sugar kombucha,” Mr. Ledvina said.

    Tyler Durden
    Sun, 10/29/2023 – 19:50

  • Gold's About To Have Its Day: Jim Grant Warns No One's Prepared For "Higher Yields For Much, Much, Much Longer"
    Gold’s About To Have Its Day: Jim Grant Warns No One’s Prepared For “Higher Yields For Much, Much, Much Longer”

    Authored by Christoph Gisiger via TheMarket.ch,

    The world is experiencing a historic surge in interest rates. Jim Grant, editor of «Grant’s Interest Rate Observer», believes the turmoil could be the beginning of a multi-decade bear market in bonds.

    In this in-depth interview, he explains what the risks are – and where opportunities arise.

    The spike was unexpected: In the US, the yield on 10-year treasuries is rising rapidly toward 5%, the highest level since 2007. From Europe to Japan to Australia, long-term interest rates are also trending upward almost everywhere in the world. There is much speculation about the causes. What is clear, however, is that this shock will not be without consequences.

    «It raises the interesting possibility that we are embarked on a new bond bear market,» says Jim Grant, editor of the iconic investment bulletin «Grant’s Interest Rate Observer». «Bonds are unusual in the world of financial assets as their prices historically tend to trend in generation-length intervals; something we don’t see so much in stocks or commodities», he adds.

    In this in-depth interview with The Market NZZ, which has been lightly edited for length and clarity, the seasoned expert on financial history explains what persistently higher interest rates could mean for investors, what risks are associated with this new environment and where long-term opportunities arise.

    «I think gold ought not to trade as an inflation hedge, but as an investment in monetary disorder of which we surely have enough in the world»: Jim Grant.

    Mr. Grant, «Grant’s Interest Rate Observer» is celebrating its 40th anniversary. What are you currently observing in connection with the massive surge in interest rates that the financial markets are experiencing?

    Well, we certainly have something to observe. It’s been a long time, so I would say a couple of things. One is that the movement from interest rates bordering on nothing to interest rates knocking on the door of normal – that speed of rise – is something we have rarely, if ever, seen before. It’s like a car going from 0 to 60 mph in four seconds. So this is a very rapid and, one might conjecture, a very disruptive rise because it has been so fast.

    How can this turmoil in the bond market be put into historical perspective?

    It raises the interesting possibility that we are embarked on a new bond bear market. Bonds are unusual in the world of financial assets as their prices historically tend to trend in generation-length intervals; something we don’t see so much in stocks or commodities.

    How did such generational cycles play out in the past?

    In the United States, bond yields fell from around the end of the Civil War for 35 years to the end of the 19th century. Then, they rose very gradually for 20 years, whereupon they fell again from around 1921 to 1946. Next, the great post-war bond bear market began, taking yields all the way up to 15% in 1981. After that, the great bond bull market started that took yields down to 1% in 2021. Of course, in Europe and Japan yields on shorter-dated securities fell even well below zero, to the tune of $16 trillion of securities were priced to yield less than nothing.

    What can be derived from this for today’s environment?

    Going back about 150 years, there has been a succession of bond bull and bear markets, each one at least 20 years in length. So perhaps since 2021 we have begun a lengthy excursion to the upside in yields – and if that’s the case, the catch phrase ought to be not «yields for longer», but «yields for much, much, much longer». Then again, nothing says this exercise in pattern recognition necessarily guarantees any future outcome. But for what it is worth, this is one way to frame this most violent and dramatic rise in bond yields.

    Why do you think a new cycle may have begun in the bond market?

    Here’s one way to think about it: In 1981, President Reagan saw that the air traffic controllers’ union was threatening to strike. So he warned them not to strike, arguing it’s against the public and it’s illegal. The air traffic controllers struck anyway, so Reagan fired them all and brought in new ones. That was about the time when interest rates peaked. It was a marker of the times. Back then, we didn’t know that this was the end of a 45-year bond bear market. It was a symbolic end: President Reagan broke this important union. It was a change; it was like commodity prices breaking in 1980.

    And what does this have to do with the current situation?

    Fast forward to today, another President, Joe Biden, goes out to Detroit. He walks the picket line in solidarity with the strikers of the auto union, encouraging them: «Hang in there, you got it!» To me, that is another sign of the times, another kind of omen. So it might just be that we are embarked on rates much, much, much higher for much, much, much longer. And, it might just be that we are embarked on not just a cycle of inflation but an age of inflation.

    So should we expect further tremors in the bond market?

    We’ve just talked about how fast this bond bear market we’re hypothesizing about has been to date. But we haven’t talked about the tempo. For instance, at the beginning of the previous bond bear market in 1964, it took ten years for the yield on long-dated treasuries to go from 2¼% to 3¼%. So nothing says that the current rate of speed is going to continue. As a matter of fact, it can’t continue because otherwise rates would need three digits to write them down. So based on form, on the historical precedent, the tempo is going to be very measured at times. In other words, it might just be that for a certain time, the bond market won’t be very dramatic at all. Yet, it won’t go back to 2%, which will be good for some people, not good for others, but in any case, very different from what we’ve seen over the last four decades.

    What are the consequences of this fundamental change for investments?

    During the course of not one investment career, but rather one and a half investment careers, the whole world has become accustomed to interest rates basically only going in one direction. Of course, there was plenty of volatility along the way, but persistent, if not continuous declines in rates have been the norm for the careers and investment minds of most living human beings. Consequently, expectations are deeply embedded in our collective psyche that rates do one thing, which is to decline. Yet here we are, observing them go up. So it’s no wonder that many people don’t exactly want to believe it. It’s highly irregular, and not at all in the way of our collective experience going back many, many years.

    So how will this change the environment for investment?

    During the great protracted bond bull market beginning in 1981, bonds and stocks could reliably be expected to move inversely from one another: Stocks would go up, bonds down, and vice versa. As a result, bonds provided a nice hedge or cushion to one’s equity exposure. That was the case for a long time, and it was especially attractive when bonds were yielding something. Indeed, long-dated treasuries yielded 14% as recently as 1984, and as much as 10% as recently as 1987. So for many of the past forty years, bonds not only provided a portfolio balance, but also delivered a substantial measure of interest income along the way.

    And today?

    This advantageous arrangement ended, or at least became much less advantageous, during the long period of zero percent rates and QE: Bonds yielded very little and might have provided some cushion, if stocks decline. But there was no great interest income for a long time from one’s bond position. Today however, there is a possibility that bonds and stocks could decline at the same time, as was the case for many years in the last bond bear market, beginning in the late Sixties and continuing into the early Eighties. So correlations could change. The popular 60/40 portfolio could deliver disappointing returns, rather than persistently attractive ones – and that too would be a big change in the investment weather.

    That’s not exactly an uplifting outlook.

    This is not to say that in a time of persistently rising yields, there aren’t some distinct advantages from the saver’s, the long-term investor’s point of view. One of the classics of fixed income investing is a book called «Inside the Yield Book» by Martin Leibowitz and Sidney Homer. It came out at a time when yields were printed and bound in books, before the digital era, the Bloomberg era. Chapter one of the 1972 edition of «Inside the Yield Book» is entitled «Interest on Interest». It describes the arithmetic of a bond investor investing semi-annual coupons at rising rates of interest, pointing out that interest on interest for long periods can contribute as much as one half of the total return. It points out further that in times of rising yields, the yield to maturity is going to be higher than the yield at which you purchased the bond because you will be investing not at the coupon rate, but at ever increasing rates.

    How exactly does this compounding effect work?

    Let’s say, you buy a 6% bond maturing in thirty years. In a bond bull market with continually declining interest rates, you reinvested that 6% coupon in ever lower rates and thereby ever lower returns. So the yield to maturity was not 6%, but something less than that. Now, imagine you purchase that same security today in an environment with persistently, if not continuously rising rates over the next thirty or forty years. The rate you earn on that coupon won’t be 6%. It’s likely to be something higher, and therefore your yield to maturity is going to be better than 6%.

    So a bear market in bonds also brings benefits?

    Indeed. For investors, it opens up another new vista to come: opportunities for interest on interest. Of course, this does not apply to people who need coupon income to pay their rent and buy their groceries. But for savers, for pension funds, for sovereign wealth funds, for people who are in the business of reinvesting their interest income this is a not-disadvantageous thing, this bond bear market. But again, to re-emphasize: This is all hypothetical, I don’t want to sound like some cocksure dogmatic prophet, which I assure you I am not.

    But let’s assume you are correct in your thesis on the future development of interest rates. In principle, do bonds therefore offer an attractive alternative to equities in the portfolio?

    Yes, what is old will be new again. Bonds really earn something besides nothing or less than nothing which was the case for a long time. But as mentioned earlier, it’s going to take some time getting used to it. So far, the stock market pretends not to notice. This seems surprising. As we point out in a recent issue of «Grant’s», the volatility of the bond market is very elevated, whereas the volatility of the stock market is very subdued. So you have to ask yourself: How can complacency reign in junior securities, when anxiety is the mood in the market of senior securities? This doesn’t make intuitive sense.

    Where could the pressure of rising rates cause major problems?

    I suspect that this most sudden and even violent lurch higher in interest rates is going to test financial structures that came into being during the period of very low nominal interest rates. Think of what all came into being, when money was proverbially free from 2010 to 2021: Cryptocurrencies flourished, dito venture capital and private equity. There were no constraints on sovereign debt issuance, so public credit was expanded dramatically. Interest expense seemed to be forever minimal and not worrisome because, after all, rates would never rise. To some degree, the entire world was capitalized on the expectation of extremely low interest rates.

    And how do things look now?

    All that has changed, but not in the expectations yet. I think people are still trying to deal with the shock of the perception of the possibility of much higher rates for a long time. Not every company has had to refinance so far, not every private equity company has met a hostile reception in the credit markets, and not every country has had to face the consequences of a potentially ruinously high national invoice for interest expense. All this is still in the making. So I’m not so quick to believe that this rise in rates, as dramatic as it has been, is going to be solitary or helpful just to savers. No, I think it’s a much, much deeper phenomenon and we’ll learn more about it in the coming fiscal quarters and years. That’s for sure.

    With the crisis facing British pension funds and the collapse of Silicon Valley Bank, we have already seen two situations with major turmoil. Do you expect further stress in the system?

    Who knows, but the protracted selloff in US treasuries is properly raising concerns that the March regional banking crisis never ended but only took the summer off. All-time low interest rates beguiled, seduced and even coerced people into doing things they would not have done perhaps except for interest rates that were not the product of the marketplace but rather the product of the models of the central bankers of the world. The problem with 4%, 5% and 6% interest rates today is not 4%, 5% and 6% on their face. The real problem is the preceding regime of zero percent rates, and the debt accumulation that those rates fostered and brought into being.

    Then again, interest rates could also fall again. Or to put it another way: What are the specific forces that could foster a long bear market in bonds?

    One cause might be an embedded, what they call, structural inflation. If inflation is part of the times, the spirit of the age, that could be one driver. Another cause could be a deterioration of public credit. For a long time, the United States has been in the privileged position of being the one and only superpower and the issuer of the one and only reserve currency of the world. But in its humanity, America is not so very different from other countries.

    What do you mean by that?

    Essentially, the privilege of consuming much more than you produce is sort of the poisoned chalice gift of a reserve currency. It’s like saying: All right, you can pay your bills in your currency you alone can produce and the world will accept it because of your evident strength and enterprise and power. If Uganda, Britain, Singapore or even Switzerland was given this privilege, I imagine any other country would have done the same. But what we have done in America is that we brought up immense net international debts and very large domestic sovereign debts. So altogether a lot of debts, financed with the dollar which – as we convinced ourselves – is kind of the Coca-Cola or Microsoft of monetary world brands. That’s a very seductive thing to have come to believe.

    So the dollar as the world’s reserve currency is proving to be a curse?

    When we speak about the troubles in public credit, that’s another way of saying there are more bonds on offer than are demanded at prevailing rates of interest. The United States has been downgraded by Standard & Poors’ and by Fitch, and Moody’s maybe would prefer to do the same. America is a Triple-A country in many respects. The Statue of Liberty, the Declaration of Independence, you can’t downgrade those. It’s part of the whole business model of this country, and it’s a pretty good business model. But financially speaking, we have taken advantage of these things; the things that make America truly what it is – not the financial gimmicks that make us more encumbered than we ought to be.

    Nevertheless, the US economy is doing remarkably well by international comparisons. This is despite the fact that virtually everyone had feared that the economy would cool down significantly as a result of rising interest rates.

    I thought that combination of an inverted yield curve and the contraction of monetary growth together were pretty strong signals of a pending recession. So again, it turns out there are no surefire indicators. But obviously, a recession will come at some time, and I think it will have its origins in the unhealthy capital structures caused by the suppression of interest rates and the distortion that suppression has brought about over the course of more than a decade. To me, that’s going to be the proximate cause of the next financial difficulties, being part and parcel of the next recession.

    What is the best way to navigate this environment as a European investor based in Zurich, for example?

    I would think that you would continue to look at companies in a company-by-company way. However, you would not be ignorant of the fact that the spread between the American equity market cap and the market cap of the rest of the world is at a record high. So everyone owns America already, and has been well paid for that. But it’s a big world, and there might be opportunities elsewhere as well as in America.

    Where else do you spot attractive opportunities for investments?

    Here’s a question: When you’re looking around for a currency, if you want to hold money in some form, are you really sure you want to hold it in dollars, or in competing fiat currencies? In this regard, I might have mentioned gold once or twice before in our previous conversations. So I would say to the gnomes of Zurich: Don’t forget what got you here! Don’t turn your little backs on gold. But seriously, I think that gold is going to have its day. It really has not had its day yet, as I see it.

    Gold has experienced a strong surge in recent weeks. What speaks for further gains?

    I think gold ought not to trade as an inflation hedge, but as an investment in monetary disorder of which we surely have enough in the world. So it’s a question of getting people interested in the problem, and then in the solution. If you want to go back and look at the long cycles, it might just be that the fifty odd years since the end of Bretton Woods and the end of the dollar’s convertibility to gold, that that cycle is ending. It might be that paper money in the historians’ retro perspective views will seem to have been a failure and that the world is going to charge back on unconstrained central bank credit creation and unconstrained sovereign borrowing. Maybe, that’s one way to look at it. It’s the way I tend to look at these things: longer-term, historical trends – and fifty years in the history of money is about the blink of an eye.

    Tyler Durden
    Sun, 10/29/2023 – 18:40

  • The Influence Of Influencers Is Rising… Except In China
    The Influence Of Influencers Is Rising… Except In China

    Most people trust the opinion of their social circle when making purchasing decisions.

    But, as Statista’s Katharina Buchholz reports, data from Statista Consumer Insights shows many also trust the friendly people who freely share their lives with us on social media and at least feel like our acquaintances: influencers.

    Infographic: The Influence of Influencers | Statista

    You will find more infographics at Statista

    Influencers currently yield the biggest power over people’s purchasing decisions in Brazil, China and India, according to the survey which is representative of the countries’ online populations.

    While influencers’ sway has only become larger in Brazil and India, it has recently decreased in China, but stayed on a high level nonetheless.

    In most other countries, the trend to follow influencers’ lead when deciding on a purchase gained traction.

    Denmark and Japan were among the countries paying influencers little mind, even though their following was growing in these nations also.

    Among Europeans, Italians were most “under the influence”, at 24 percent saying in 2023 that they had made a purchase because a celebrity or influencer advertised the product.

    Tyler Durden
    Sun, 10/29/2023 – 18:05

  • Jack Smith's War On Free Speech: AG Garland Should Rein In His Special Counsel
    Jack Smith’s War On Free Speech: AG Garland Should Rein In His Special Counsel

    Authored by Jonathan Turley,

    Below is my column in The Messenger on the renewed effort of Special Counsel Jack Smith to gag former President Donald Trump.

    At the same time, Judge Arthur Engoron has repeatedly fined Trump for his public statements about the New York fraud case. Engoron declared this week “Anybody can run for president. I am going to protect my staff.”

    There is widespread support for barring attacks on court staff and Trump did attack the Court’s clerk in a prior posting. However, most of his comments have been directed at Engoron and his alleged hostility toward Trump. Where to draw this line is the subject of this column. In my view, criticism of the case, the court, and the prosecutor should be treated as protected speech.

    Here is the column:

    In 2016, the Supreme Court issued a unanimous opinion overturning a conviction that the Department of Justice (DOJ) had seemed willing to secure at whatever cost to the rule of law. The case involved the prosecution of former governor Bob McDonnell (R-Va.), and the lead DOJ prosecutor was now-special counsel Jack Smith. The court dismissed the “tawdry tales” offered by the DOJ and declared that it was far more concerned with the damage that Smith was causing to the legal system with his virtually limitless interpretation of criminality.

    The rebuke came to mind this week as Smith continued his unrelenting effort to gag former president Donald Trump before the 2024 election. Some of us have previously denounced the gag order issued by U.S. District Judge Tanya S. Chutkan as unconstitutional, but even that order was more limited than what Smith had demanded.

    Even the American Civil Liberties Union (ACLU), a leading critic of Trump, has come out against Smith’s efforts as an attack on the First Amendment.

    Undeterred, Smith now wants to reinstate and expand the gag on Trump, citing Trump’s comments about his former chief of staff, Mark Meadows, who reportedly has been given an immunity deal by Smith. (Meadows’ lawyer disputes those reports.)

    Smith wants to bar Trump from criticizing any witnesses as well as the prosecution and the court. That would include criticisms of former Vice President Mike Pence, currently one of his opponents for the 2024 Republican presidential nomination, on his allegations linked to the earlier election.[Update: after this column ran, Pence withdrew from the presidential campaign]

    Of course, gagging Trump will not materially affect the jury pool in the case. The Smith prosecutions are one of the biggest issues in this election. Moreover, it will not protect potential witnesses from withering criticism in the middle of an election that could turn on the public view of these cases.

    Indeed, Smith has insisted on trying Trump before the election but now also wants to prevent him from speaking fully about the case before the election. Trump alone would be gagged, even as other politicians and pundits debate the merits of the cases and the countervailing allegations of the weaponization of the criminal justice system.

    The prior order issued by Judge Chutkan is shockingly vague and overbroad. It bars Trump from “targeting” Smith or his staff or potential witnesses or the “substance of their testimony.” It leaves an undefined and uncertain line as Trump campaigns on what he (and millions of citizens) view as the abuse of the criminal justice system to target President Biden’s main political opponent.

    Smith would add to the scope and ambiguity of the order in his latest motion. He is arguing that the court should “modify the defendant’s conditions of release … by clarifying that the existing condition barring communication with witnesses about the facts of the case includes indirect messages to witnesses made publicly on social media or in speeches.”

    Consider that for a moment: Smith would treat comments about witnesses, such as Meadows or Pence, as an effort to communicate with a witness.

    Thus, Smith continues to litigate with a sense of utter abandon, showing his signature lack of concern for the implications of his legal arguments. It is the type of blind purpose that leads — as it did in the McDonnell case — to a unanimous ruling against you on an otherwise divided Supreme Court.

    Ironically, it calls for a level of self-restraint that the trial court itself failed to show in the past. In sentencing a rioter in 2022, Judge Chutkan said that January 6 defendants “were there in fealty, in loyalty, to one man — not to the Constitution.” She added that it was “a blind loyalty to one person who, by the way, remains free to this day.”

    Despite clearly indicating with her comment that she believed Trump should be jailed (long before he was indicted), Chutkan has refused to recuse herself in this trial.

    The lack of restraint shown by Smith only magnifies the lack of leadership from Attorney General Merrick Garland. The attorney general has repeatedly said that he would give the special counsel full authority and independence. However, that would not ordinarily mean that the attorney general would reduce himself to a mere pedestrian in this process.

    This is an example of the ever-shrinking profile of Garland at the Justice Department. He has often told Congress that his knowledge of controversies is limited to what he has read in press accounts. Even beyond the special counsel’s investigations, he seems as proactive as a ficus plant.

    Yet, this new gag motion presents a far more serious cost to Garland’s passive role at the department. Smith is taking a hatchet to the First Amendment in these motions. In doing so, he is fueling anger over the perception of a weaponized criminal justice system.

    Smith’s deafening attacks on free speech are matched equally by Garland’s utter silence. The attorney general seems to believe that removing himself entirely from these investigations is more important than guaranteeing that his department does not become the enemy of core constitutional rights.

    As Smith seems intent on inviting another unanimous Supreme Court opinion against his department, Garland may want to consider voicing a modicum of concern over the cost to free speech in Smith’s efforts to gag Donald Trump.

    Tyler Durden
    Sun, 10/29/2023 – 17:30

  • Attacks On US Bases In Syria Continue Unhindered After Pentagon's Friday Airstrikes
    Attacks On US Bases In Syria Continue Unhindered After Pentagon’s Friday Airstrikes

    Attacks on US military outposts in Iraq and Syria have continued over the weekend. Al-Mayadeen news and other regional outlets have reported that there have been several attacks by Iran-backed militias on Saturday and Sunday. Russian media has also reported on the fresh attacks, calling recent Pentagon airstrikes on Syria an “unsuccessful bid to deter the militias.”

    A statement by a coalition of Shia paramilitary groups said, “The Mujahideen of the Islamic Resistance in Iraq targeted the American occupation base in Al-Tanf, Syria, with two drones, which directly hit their targets.” They carried out the attack from just across the Iraq border into Syria.

    Reports say separately that the al-Shaddadi base in eastern Syria was also hit with two drones, and al-Omar base and oil field was struck. The latter was reportedly attacked a mere hours after the US airstrikes.

    Al-Mayadeen had says ago cited a statement from the Iraqi Hezbollah Brigades which said the group is willing to fight “a war of attrition against the enemy that will extend for years.”

    In the early hours of Friday, the US had sent fighter jets to attack multiple locations of Iran-linked paramilitaries in Syria. The Associated Press summarized the action based on US official statements as follows:

    Air Force Brig. Gen. Pat Ryder said Friday that the strikes near Boukamal by F-16 and F-15 fighter aircraft targeted a weapons storage facility and ammunition storage facility used by the IRGC and affiliated groups. “Both facilities were destroyed,” he said. “We currently assess there were no casualties in the strikes.”

    “These precision self-defense strikes are a response to a series of ongoing and mostly unsuccessful attacks against US personnel in Iraq and Syria by Iranian-backed militia groups,” US Defense Secretary Lloyd Austin said in the aftermath. 

    “Iran wants to hide its hand and deny its role in these attacks against our forces. We will not let them. If attacks by Iran’s proxies against US forces continue, we will not hesitate to take further necessary measures to protect our people,” he added. 

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

    But given the rocket and drone attacks have continued into the weekend, it’s become clear that these US strikes didn’t have the desired deterrent effect. 

    US spy plane fights along the eastern Mediterranean, including stepped up drone activity, have increased in relation to Israel’s ongoing ground assault on Gaza.

    Tyler Durden
    Sun, 10/29/2023 – 16:55

  • Cocky Runner Sprints From 172nd To 5th Place After Competing As A Girl
    Cocky Runner Sprints From 172nd To 5th Place After Competing As A Girl

    Authored by Jackson Elliott via The Epoch Times (emphasis ours),

    Former cross country runner Teagan Ewings feels a bit bewildered watching her sister, Teanne, run at high school meets.

    Madisan DeBos, a cross country and track athlete at Southern Utah State University—whose relay team lost to an athlete who identifies as transgender—speaks at the “Our Bodies, Our Sports” rally at the Freedom Plaza in Washington on June 23, 2022. (Terri Wu/The Epoch Times)

    That’s because Teanne Ewings has to run against a boy who identifies as a girl.

    “When I was in high school, even the thought of a transgender athlete being in my race was not even on my radar,” 21-year-old Teagan Ewings told The Epoch Times.

    But much has changed in school sports.

    Even just a year ago, a 16-year-old cross-country runner from Maine Coast Waldorf School (MCWS), ran as a boy.

    He placed 172nd in the state men’s cross country during his freshman year.

    But then he grew his short hair out and transitioned to women’s cross country. Now, his running times allow him to be considered one of the state’s top girl runners.

    In a meet on Oct. 5, he won the 5K (3.1 mile) race with a time of 18:09, beating the second-place girl, Emma Young, by 66 seconds.

    As of Sept. 26, he ranked fifth in the state among all women and third among the state’s small-school athletes, according to online rankings by Maine track and cross country time website MileSplit.

    Teanne Ewings ranks second overall and second in the state’s division for small-school athletes.

    Teagan Ewings, a former women’s Maine cross country runner in Brewer, Maine. (Giovani Pinto Photography via Teagan Ewing)

    The Epoch Times attempted to contact the male runner, but his Instagram is private. His profile picture shows a crying child, along with the Pride flag and transgender pride flag.

    The Epoch Times contacted MCWS but received no comment by publication time.

    The Maine Principals Association (MPA) emailed The Epoch Times a statement that state law requires them to include him in women’s sports.

    “The Maine Principals’ Association is committed to working with schools across the entire state to ensure that Maine State Law is followed,” the MPA’s statement reads.

    The state of Maine recently enacted laws that explicitly prohibit ‘Unlawful educational discrimination in schools based on sex, sexual orientation, gender identity, a physical or mental disability, ancestry, national origin, race, color, or religion.'”

    Teagan Ewings said her sister’s peers are divided about whether a boy who identifies as a girl should participate in women’s cross country.

    Some girls told her sister to “run faster” and said sports are all about having fun, she  said.

    “They just want everyone to have fun, and everybody can do what they want.”

    End of Women’s Sports?

    Other women see the inclusion of boys as the end of women’s sports.

    There’s just not going to be female sports anymore,” Teagan Ewings said. “It’ll just be male sports and then males pretending to be females.”

    Local parent Cathy Ross has concerns about this, too.

    High school boys have far better running times than women, she said.

    “There’s a handful of us moms who have seen our daughters work like crazy,” she said. “These are kids who run over 40 miles a week. Sometimes, at the height of their season, they give up their Saturdays, so that they can travel two-and-a-half hours to a meet far away.”

    After all of the effort and sacrifice, losing to a man is “crushing” for the girls, Ms. Ross said.

    Elite women’s runner Diana Kipyogei of Kenya (C) breaks from the start in the center of the pack in the 125th Boston Marathon in Hopkinton, Mass. on Oct. 11, 2021. (Mary Schwalm/AP Photo)

    Currently, the young male beats the girls he runs against by two minutes. He’s several inches taller than the girls he competes with.

    Scientific studies show male hips give men a more efficient running stride than women. Testosterone also allows men to build more muscle than women.

    Basically, biology means that he has a larger heart, more leg muscle, larger lungs, and stronger bones than the girls he competes with, Ms. Ross said.

    Allowing him into women’s sports amounts to Maine giving a special privilege to a man over every girl in the state, she said.

    “I don’t understand why the gender identity of one individual, and trying to validate that, is seen as far more important than the hard work and the efforts and the need to compete fairly and honestly and to achieve success for girls,” Ms. Ross said.

    More Male Physical Advantages

    Katherine Collins has a son and daughter in cross country, she said.

    The female-identifying runner “is going to get faster because he’s getting older,” she said. “All he did was grow his hair out and put braids in his hair. I mean, that’s all he did. He didn’t have to prove anything” to be allowed to compete as a girl.

    No matter how much training they endure and dedication girls bring, it’s not enough to beat the testosterone advantage, Ms. Collins said.

    The fastest boys’ 5K time in Maine is more than two minutes faster than the fastest girls,” she said. “There’s just no comparison.”

    Friends have confessed to her that their daughters don’t want to compete anymore because they know they’ll lose, she said.

    And she’s frustrated hearing “people say, ‘Oh, well, they should just work harder,'” she said. “It’s impossible. It’s physiologically impossible.”

    Maine mother Katherine Collins at a cross country meet in Bangor, Maine, on Oct. 24, 2023. (Courtesy of Jennifer Nash)

    Letting men enter women’s sports likely will cost a generation of children their shot at competitive athletics, said Marshi Smith, a former NCAA women’s swimming champion,

    “How many girls are going to be sacrificed in the meantime?” she asked rhetorically during an interview with The Epoch Times.

    My daughter is 7 right now. In 10 years, that will be her entire childhood athletic career.”

    For some female students in Maine, the male runner’s victories will rob them of accolades that could affect their college applications, Ms. Collins said.

    “If you’re applying to college and you say that you’re nationally ranked or a state champion, that is a big deal,” said Ms. Collins.

    So his inclusion is a “slap in the face” to female athletes, Ms. Collins said.

    “The MPA doesn’t care about girls,” she said. “They don’t care about women.”

    Rules Allowing Men Versus Women

    Parents in Maine opposed to allowing a boy to compete as a girl have few options to change the situation, Maine parental rights advocate Shawn McBreairty told The Epoch Times.

    But parents can file complaints with their local school district citing Title IX, the landmark U.S. law meant to bring equity between men and women in most facets of education, Mr. McBreairty suggested.

    If that doesn’t change things, they can consider filing lawsuits, he said.

    Although the boy didn’t crack the top 100 of Maine’s male runners, he’s one of the best “female” runners in the state, Mr. McBreairty said.

    The MPA’s handbook includes the word “gender” 39 times and the word “transgender” nine times.

    “The MPA supports student-athletes regardless of their gender identity or expression,” the handbook reads. “The MPA also recognizes that high school sports teams have traditionally been binary [single sex] and believes that it is important to continue to offer single-sex interscholastic athletic teams in order to ensure equal athletic opportunities for girls.”

    The handbook also states that “most high school-aged boys have a distinct athletic advantage” over girls.

    The MPA’s Gender Identity Equity Committee (GIE) can decline a request for cross-sex competition—when a boy who identifies as a girl asks to compete with girls—if members are convinced the student is only pretending to be transgender, the handbook reads.

    The GIE committee makes this decision under a long list of criteria.

    Some criteria involve physical traits like height, weight, previous athletic performance, and whether a student has passed puberty.

    Other criteria include whether the student has consistently identified as transgender, whether a student has already changed their gender identity in school records, and what sports the student plans to do.

    However, no test can determine if someone is transgender because “gender identity is an internal identification and experience,” according to guidelines from the World Professional Association for Transgender Health (WPATH).

    The MPA handbook also states that the committee can decline a student’s request to play on opposite-sex teams if the student would gain an “unfair athletic advantage or pose an unacceptable risk of physical injury to other student-athletes.”

    Parents wonder how the current case, in which one participant jumped more than 100 places up in ranking when switching to compete as a girl, can be within the bounds of fairness by the MPA’s standards.

    “They’re acknowledging that boys have an athletic advantage,” Ms. Ross said.

    Basically, they don’t intend to do anything about it.

    Tyler Durden
    Sun, 10/29/2023 – 16:20

  • Wider War Will Bring Inevitable Attempts At Martial Law In America
    Wider War Will Bring Inevitable Attempts At Martial Law In America

    Authored by Brandon Smith via Alt-Market.us,

    Not long ago at the height of fear over the global pandemic the US underwent a change that many people argued would never happen. For years I have heard people say that authoritarian controls in America are “tinfoil hat conspiracy theory” and doom mongering – All the prepping, all the talk of community organizing, all the guns and the gear and the training were for nothing.

    Then…the covid agenda hit like a freight train.

    Our constitutional rights were no longer set in stone, but mere guidelines that government officials could bend or break in the name of “public health safety.” Laws no longer had to be passed through a series of checks and balances; mandates could be implemented as if they were laws without public oversight and enforced unilaterally.

    There was talk (primarily among Democrats) of severe punishments for people who refused the pointless covid vaccines. They wanted vaccine passports, they wanted prison time for those that spoke publicly against the vax, they wanted people’s jobs taken away, they wanted their children taken away, and there were even plans to build covid detention centers to segregate and lock up “vax deniers.”

    It boggles the mind, but this was serious debate within the US and it was all triggered in the span of a year. Nearly half the country was willing to abandon the Bill of Rights over a virus with a survival rate of 99.8%. The conspiracy theorists were right all along; our freedoms rest on a razor’s edge and preparing to survive and fight for those freedoms is perfectly rational.

    Luckily, the covid agenda failed. The mandates were ultimately blocked by red states and in many rural areas they were barely enforced at all. Biden’s vaccine passport attempt was stopped cold by the Supreme Court, but I have long believed that the Supreme Court made this decision exactly because of the level of public resistance.  They knew if they pressed the issue, civil war was on the table.

    Medical authoritarianism collapsed because conservatives and independents were not onboard and they could not be shamed into compliance.

    But what happens when there is a crisis that DOES scare conservatives? What happens when the political right perceives a true threat? Does freedom then become untenable?

    Viruses frighten progressives (most things frighten progressives), but what frightens conservatives?

    Well, it’s not a hard fast rule, but generally speaking conservatives are most disturbed by the threat of invasion. Ask any conservative if they were worried about covid or worried about the crisis on the southern border during the pandemic and the vast majority of them would say the border without hesitation. Conservatives fear cultural infiltration and co-option, they fear the steady and deliberate whittling away of their American heritage and by extension their freedoms by alien impostors. And, they fear the certain blitzkrieg of the US by organized terrorism should the borders remain open.

    The question is, are they willing to assuage their fears by sacrificing the very freedoms they want to protect?

    In 2001 after 9/11, the conservative movement was a much different animal than it is today. This was pre-Ron Paul and pre-Libertarian influence. The Neo-cons ruled the roost and had far reaching power over public perception, making the push for the dismissal of constitutional rights unprecedented. The Patriot Act mentality was widespread and the thirst for war was palpable. I have seen conservatives stray from the Bill of Rights in the past in the name of fighting against a possible invasion.  I remember this vividly.

    Today, the elements in play are not the same as 2001. Anyone who argues otherwise was likely a child during the 9/11 era or has a skewed understanding of the changes that have taken place among conservatives since those days. The Ron Paul movement changed a lot for the better, but primarily within the conservative constituency. Regular people changed their thinking on what it means to trade liberty for security. The GOP? It’s a pipe dream to think we could ever completely change the GOP.  At least covid proved we have allies at the state and local level

    The real problem is in the old guard of Neo-cons still influencing the path of the Republican Party. These are people who happily ally with Democrats behind the scenes, they have close ties to establishment elites and their loyalty rests in the hands of globalists. If the globalists want war, then the Neo-cons want war and they will do anything to get it, including create it. That’s how it works.

    And this time around I think they’re going to get what they want. The Ukraine event failed to lure Americans into supporting direct intervention (a majority of Americans don’t even support funding for Ukraine), but Israel is another matter. There are very old and tribal implications than pull on the souls of conservatives when it comes to the conflicts in the Middle East. There are religious factors, yes, but I suspect this is overblown by critics who think evangelicals are running the show. This is not reality.

    The Christian mandate has nowhere near the same influence it did back in 2001. In fact, churches have become so weak that they are now being overtaken by LGBT infiltration and trans activism. This never would have been tolerated 20 years ago – They would have tarred and feathered such activists back then. If this sort of thing is being allowed to happen right in our backyards today then you can be damn sure that religion is not the driving force for war overseas.

    No, when it comes to Israel and the implications of war the concern is once again rooted in cultural erasure. To be fair, it’s not a paranoid delusion.  Western culture is in fact being systematically dismantled and mass immigration is a part of that agenda. It’s also true that Islamic ideology is completely incompatible with western beliefs including the concept of individualism. Muslim systems are authoritarian in nature, that is what Sharia Law is.

    So, when conservatives see the potential for the fall of Israel they associate this with the fall of the west, and they will seek to stop it if they can. Beyond Israel is the concern that an invasion of Muslim extremists is already well underway in the US with open border policies becoming the norm under Joe Biden. And here is where the trap is set…

    Martial law in the US would only ever work if a majority of conservatives support it. This is a fact. Without our backing martial law will fail, just as the covid mandates failed. Keep in mind, Biden and his globalist friends have used every possible tactic to make martial law an inevitability. Economic instability and stagflation have created a spike in violent crime and looting. Mass illegal migration is dragging down state welfare systems and is creating a trend of cultural dilution. Open borders have allowed any number of possible foreign hostiles into the US.

    In the midst of war the government desire to control information and public discourse will be at its apex.  However, as we have seen during covid and the Ukraine war, they have not proven effective at accomplishing this.  As long as the internet is in place it does not matter what kind of algorithms Big Tech applies to stifle the truth, the truth still finds a way.  This means that the establishment will have to pursue extreme measures that could only be achieved within a martial law environment.  I see this situation going one of two ways if the current geopolitical trend continues…

    Option A:

    A multi-front war breaks out in the Middle East including nations like Iran, Syria, Lebanon, Jordan and Yemen. Israel faces serious failure. The US is dragged into the war, or, Israel uses its nuclear arsenal to destroy the resources (including populations) of enemy nations, leading to the possible involvement of China and Russia, and thus, the US is still dragged in.

    Riots and terror attacks become a regular occurrence in the US, not just initiated by Muslim extremist infiltrators but also leftists who have attached themselves to the cause.

    A draft is initiated which conservatives support in the hopes that it will help dissolve the riots. The draft will sink millions of weak, soft zennials (including women) into a bloody quagmire that they have no capacity to adapt to.  Draft protests and riots become the norm, pushing conservatives to support even stricter enforcement.

    Finally, martial law is announced, but the soldiers used on American soil to “protect us” from riots and terrorists will be primarily foreign nationals – Illegal migrants given an easy shot at citizenry if they join the military and put the boot down on dissenters, which they will gladly do because they have no cultural attachment to America or Americans. At this stage the constitution will essentially die.

    Option B:

    The war expands and Israel faces imminent destruction. Biden commits US naval forces to the fight along with ground troops, primarily Special Forces. He then calls for full deployment of US ground forces to the region, but in this scenario the majority of conservatives do not support the action, just as they did not support deployment to Ukraine.

    Biden tries to implement a draft in order to force the momentum. Conservatives refuse to comply or allow their children to be sent to die in a foreign conflict. On this one issue, conservatives and leftists actually agree, even if it is for completely different reasons. The country is then hit with an endless series of terror attacks, each one presented as a reason why the public must back the war. Each attack is cheered by the leftist activists as an act of “decolonization.”

    Conservatives see this ploy for what it is and still refuse to support the war, taking an “America First” position. Why fight overseas when it’s America that’s under duress?

    Biden still attempts martial law. He offers automatic citizenship to illegal immigrants if they serve in the military and uses some of these troops as an occupation presence at home. Leftists don’t want to fight in the Middle East, but they do like to see migrants given easy citizenship and power. They defend the measure – They figure if the migrants fill the ranks of the military maybe they won’t be drafted.

    Conservatives rebel, America enters either balkanization or civil war, or both. Patriots are accused of helping the enemies of the United States and are also labeled terrorists. From this point on, anything could happen.

    I believe the Israeli trigger may be bigger than covid in terms of the potential global disaster and global tyranny that could unfold. If it continues to escalate and turns into a multi-regional conflict the chances of the fight coming back to America are high. Not just in terms of terrorism, but also in terms of civil unrest and war on our doorstep. If we support the war, martial law is a certainty. If we don’t support the war, martial law will be attempted but at least there are scenarios where it could fail.

    I would argue that the only thing that will save America at this stage is the growth of the America First movement.

    When we talk about America First, this includes not just American security but also American freedoms.

    There is NO REASON why we can’t have both. If conservatives (and independents) get lured into WWIII, it will be the end.

    *  *  *

    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
    Sun, 10/29/2023 – 16:01

  • Watch: Muslim Rioters Storm Airport, Surround Rumored Flight From Israel, In Southern Russia
    Watch: Muslim Rioters Storm Airport, Surround Rumored Flight From Israel, In Southern Russia

    There are shocking and surreal scenes coming out of the southern Russian Republic of Dagestan, after word spread that a flight from Tel Aviv was set to land at its international airport.

    Rumors that a flight full of Israeli Jews was set to land triggered Muslim mobs to raid the airport, where they broke past barriers and even at one point stormed the airstrip in search of Jews.

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

    “A flight from Israel to the Russian Republic of Dagestan earlier today was forced to divert from its intended destination in the capital of Makhachkala after pro-Palestinians protesters stormed the airport, seeking to attack the Israeli arrivals, according to multiple reports,” Times of Israel (TOI) described of the chaotic scene.

    Several videos have emerged showing angry rioters yelling “Allahu Akbar” while seeking to intercept offboarding passengers from the Israeli flight. 

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

    It appears police or security personnel were nowhere in sight as the mob, reportedly mainly made up of Palestinians who live in Dagestan, rampaged through the terminal.

    “Dagestan’s population is overwhelmingly Muslim,” TOI noted. “According to Channel 12, the crowd was apparently largely made up of Palestinian expats.”

    The flight from Tel Aviv either diverted or took off after briefly landing. There are reports that the mob tried to break into a plane on the tarmac. Some reports say that the aircraft which was surrounded was full of Russian citizens.

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

    Regional media said the group went so far as to begin checking the IDs of travelers exiting the airport by car

    Some of the signs held by demonstrators read “Child killers have no place in Dagestan” and “We are against Jewish refugees.”

    The independent Medizona news website reported that the demonstration was prompted by calls spread on the Telegram messaging app earlier on Sunday to block a plane scheduled to arrive directly from the Israeli city of Tel Aviv.  

    According to local media, some of the demonstrators were stopping cars outside Makhachkala’s airport to check the personal identification documents of drivers and passengers as they searched for Israeli citizens among the motorists

    The flight from Tel Aviv landed at 7:17 p.m. local time, according to the airport’s website, after which the protesters stormed into the airport, breaking past security and running onto the tarmac.

    One group of people who ran onto the airport’s tarmac surrounded a plane and jumped onto one of its wings, the pro-Kremlin newspaper Izvestia reported.

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

    The FT’s Moscow correspondent Max Seddon wrote of one video, “Remarkable to see security forces in Russia standing by for so long. By now, according to Baza, police in Makhachkala have chased them off the runway and outside the airport, where they are now protesting.”

    The Dagestan airport was forced to temporarily close as the military and police belatedly tried to gain control of the situation and restore order. Per regional N12 News:

    “Security official: the event in [Dagestan] is not over yet. A relatively small number of Israelis and Jews are isolated and secured at the airport. We are working for them to take off from there for an onward flight to Moscow as soon as the conditions allow.”

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

    Some observers are speculating that security forces essentially turned a blind eye and allowed the disturbing scene to happen.

    It is indeed remarkable that given the typical high security nature of international airports, the mob so easily breached all security checkpoints and overwhelmed both the terminal and tarmac.

    Tyler Durden
    Sun, 10/29/2023 – 15:55

  • The Specter Of Hyperinflation Looms Over The Economy
    The Specter Of Hyperinflation Looms Over The Economy

    Authored by Michael Matulef via The Mises Institute,

    The threat of hyperinflation has haunted fiat money economies throughout history. Although past empires crumbled under the weight of unrestrained money printing, modern bankers at the Federal Reserve assure us that today’s financial system is immune to such a fate. Austrian business cycle theory, however, reveals that current economic stimulation may be propelling us toward a crisis of catastrophic proportions: a crack-up boom that marks the dramatic end of this boom-and-bust cycle. When a central bank expands the money supply to reinflate bubbles, it destroys the currency’s purchasing power. This endgame, in which the monetary system crumbles beneath a weak economy, represents the ultimate failure of interventionism.

    Once the public expects prices to keep rising, hyperinflation becomes a self-fulfilling prophecy.

    The Expanding Boom-and-Bust Cycle Ends in a Crack-Up Boom

    To comprehend the precarious state of America’s monetary system, we must first review the boom-and-bust cycle as formulated by Ludwig von Mises and the Austrian school. The Austrians observed that the artificial suppression of interest rates by a central bank initiates an unsustainable economic boom by promoting malinvestment. Pushing rates below natural market levels sends a distorted signal to businesses that long-term capital investment is more profitable than the economy can actually support. In the euphoric boom phase, jobs multiply and GDP grows with investment. But the investments lack economic merit, so the house of cards eventually collapses.

    With the liquidation of malinvestments, the bust phase emerges: unemployment soars, output contracts, and a recession begins. Since the investments were built on quicksand, they must unwind. Each failed business further curtails consumer spending, rippling the bust through the economy. But rather than letting liquidation and market corrections occur, policymakers add stimulus, setting up a larger bubble and more painful bust down the line.

    At this point, people panic and exchange currency for real assets before rapid devaluation consumes their savings. As the crack-up boom picks up steam, the demand for money plummets while prices of real goods skyrocket, leading to hyperinflation. This psychological shift marks the event horizon where monetary policy is rendered impotent. Mises describes the nature of this crisis:

    This phenomenon was, in the great European inflations of the ’20s, called flight into real goods (Flucht in die Sachwerte) or crack-up boom (Katastrophenhausse). The mathematical economists are at a loss to comprehend the causal relation between the increase in the quantity of money and what they call “velocity of circulation.”

    The characteristic mark of the phenomenon is that the increase in the quantity of money causes a fall in the demand for money. The tendency toward a fall in purchasing power as generated by the increased supply of money is intensified by the general propensity to restrict cash holdings which it brings about. Eventually a point is reached where the prices at which people would be prepared to part with “real” goods discount to such an extent the expected progress in the fall of purchasing power that nobody has a sufficient amount of cash at hand to pay them.

    The monetary system breaks down; all transactions in the money concerned cease; a panic makes its purchasing power vanish altogether. People return either to barter or to the use of another kind of money.

    The crack-up brings the unsustainable, debt-fueled boom to a catastrophic end. Personal savings are wiped out along with the monetary system’s credibility. Society becomes less stable as the populace loses faith in institutions and scrambles for resources. The economy finds its ultimate bottom not in recession but in the total decay of the currency itself.

    The Facade of Stability

    Today, deficits balloon out of control as a result of efforts to sustain demand. Rather than allowing healthy corrections, the Fed piles on monetary stimulus at the first signs of financial crisis. Like an addict, the economy needs increasingly larger doses to maintain the status quo. But this trajectory of interventionism cannot persist forever without severe consequences: the Faustian bargain of trading long-term stability for short-term gain will backfire catastrophically.

    With each intervention, the Fed suppresses market corrections, inflates asset bubbles, and encourages high-risk debt. This constant flood of stimulus promotes moral hazard as it optimizes the economy for speculation while curtailing organic productivity. How much longer can this monetary dance along the precipice of hyperinflation continue before the dollar plunges into the abyss?

    Despite the veneer of stability, individuals sense that the economy rests on a precarious foundation of debt and deceit. They intuitively grasp that capitalism has metamorphosed into a cronyism that disproportionately rewards those with political connections in an amalgamation of concentrated power, unrestrained money creation, and escalating inequality.

    The Mirage of Reform

    Hoping for a return to monetary and fiscal restraint may prove naively optimistic. Exercising prudence would require immense political courage and social responsibility, qualities rarely exhibited in politics. Politicians face overwhelming incentives to maintain short-term stability through stimulus, spending, and low rates. And restructuring programs with enormous and unfunded liabilities like Medicare and Social Security would spur public backlash, even if it was fiscally prudent.

    After decades of excess, the economy is addicted to perpetual stimulus and deficit spending. The prevailing social mindset assumes that unending, debt-fueled growth is the natural state of affairs. With little political will for discipline, reform may depend on a crisis to force change. In the meantime, politicians, paralyzed by the status quo, are unlikely to make the difficult choices that could preempt such a crisis.

    It is all but inevitable that central banks will continue expanding the money supply to delay the day of reckoning and preserve the facade until the inevitable hyperinflationary crack-up boom, although the sheer weight of debt alone may produce this outcome. Promises of reform have been made, only to go unfulfilled. In order to prevent disaster, we must fundamentally rethink our monetary and fiscal policies against the temptations of short-term political gain. To quote Ayn Rand:

    Just as a man can evade reality and act on the blind whim of any given moment, but can achieve nothing save progressive self-destruction—so a society can evade reality and establish a system ruled by the blind whims of its members or its leader, by the majority gang of any given moment, by the current demagogue or by a permanent dictator. But such a society can achieve nothing save the rule of brute force and a state of progressive self-destruction.

    The Erosion of Centralized Control

    A crack-up boom would erode the power of the federal government: with a dramatic fall in the currency’s purchasing power, the administration’s ability to fund programs and institutions would deteriorate, the Treasury would go bankrupt, and the government would have to either massively downsize or attempt to fund operations by printing even more money. Along with the value of the promissory notes, trust in centralized authority would evaporate.

    With the federal government weakened and desperate, power would naturally shift back to individuals and their local communities. When faced with harsh economic realities, communities depend on themselves rather than flailing national policy. Individuals and communities should strengthen their local networks to weather the coming storm, increasing local involvement and forging bonds of cooperation. Joining area organizations and neighborhood groups can foster mutually beneficial relationships and support systems, invaluable resources for when the currency buckles. With shared purpose, communities enhance their capacity to withstand the crisis.

    Equally vital are the practical skills and knowledge that can provide real value to others when centralized systems fray. Pursuing expertise in food production, energy generation, medicine, engineering, and other technical fields equips people to meet local needs. In these ways, proactive societies can cultivate the true source of lasting wealth: strong social webs and skilled human capital. Global forces are beyond local influence, but strong communities retain some control over their destiny, even in hyperinflation’s wake.

    Praxeological reflection, the methodology of Austrian economics, can expose the unsound foundations that stretch currencies to their breaking point. It cannot foresee when hyperinflation will arrive, but it can point to the causes and guide human action toward stability and prosperity.

    Tyler Durden
    Sun, 10/29/2023 – 15:30

  • Desperate Gazans Raid UN Food Warehouses As Norway, France Condemn 'Disproportionate' Israeli Attacks
    Desperate Gazans Raid UN Food Warehouses As Norway, France Condemn ‘Disproportionate’ Israeli Attacks

    After three week under Israeli siege and a bombing campaign which has been unprecedented in its intensity, Gazans are getting increasingly desperate. The Strip is almost completely enveloped in darkness, also with communications cut, which happened Friday, and the United Nations is now warning of a total breakdown in civic order.

    UN Relief and Works Agency for Palestine Refugees (UNRWA) in Gaza has said that thousands of Palestinians have broken into several of its warehouses in the Strip, raiding wheat, flour, and hygiene stores – among other basic necessities stored there.

    AFP/Getty Images: Palestinians take supplies from a UN-run aid centre in Deir al-Balah on Saturday

    “This is a worrying sign that civil order is starting to break down after three weeks of war and a tight siege,” UNRWA director Thomas White told press agencies. 

    UN Secretary-General Antonio Guterres has also in fresh Sunday statements called the crisis a “nightmare” and again urged a ceasefire. “The situation in Gaza is growing more desperate by the hour. I regret that instead of a critically needed humanitarian pause, supported by the international community, Israel has intensified its military operations.”

    Over the weekend the Gazan death toll surpassed 8,000 – with Gaza’s Health Ministry saying that most of these are women and young people. The Biden administration, which has repeatedly affirmed that it “stands with Israel”, has also said that it doesn’t trust casualty figures being issued by Hamas or Palestinian sources.

    There are reports that communications were restored to much of the Gaza Strip as of Sunday, possibly the result of growing international pressure on the Israelis. Ten more aid trucks have also reportedly crossed from Egypt on Sunday.

    According to Al Jazeera, “The Israeli military said on Sunday it had struck more than 450 targets over the past 24 hours, including Hamas command centres, observation posts and antitank missile launching positions. It said more ground forces were sent into Gaza overnight.” The Israeli ground offensive has continued expanding, with The Guardian observing, “Under the cover of strikes and artillery, Israeli ground troops have begun moving into the north of the strip in Beit Lahia and Beit Hanoun in what the Israeli prime minister, Benjamin Netanyahu, described as the “second stage” of the war triggered by Hamas.”

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

    IDF troops have been seen reaching a point some two miles into Gaza:

    Israeli troops appear to have advanced over two miles into Gaza, according to a CNN analysis of video published by an Israeli media outlet. 

    The troops in the video, taken on Saturday, are seen putting an Israeli flag on a Gaza resort hotel’s roof. CNN geolocated the video to an area just over two miles from the Gaza-Israeli border.

    “Soldiers of the 52 Battalion of the 401 Brigade are waving the Israeli flag in the heart of Gaza, by the beach,” a soldier is heard saying in the video, taken several miles north of central Gaza City. “We will not forgive nor forget, and we’ll not stop until the victory.”

    Palestinian sources are also saying another major hospital, which is treating hundreds of patients and giving shelter to over 10,000, has come under attack:

    Israeli airstrikes have “caused extensive damage to hospital departments and exposed residents and patients to suffocation” at the Al-Quds Hospital, the Palestinian Red Crescent Society said Sunday.

    The aid organization accused Israel of “deliberately” launching the airstrikes “directly next to Al-Quds Hospital, with the aim of forcing the medical staff, displaced people, and patients to evacuate the hospital.”

    Major bulldozing and tank operations have been observed on the beach in Gaza…

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

    A statement cited in The Times of Israel described:

    The IDF says troops killed a number of Hamas gunmen who opened fire at the ground forces in the Strip, and other terrorists identified on the beach in Gaza, near the southern Israel community of Zikim.

    Hamas and the IDF have continued to exchange gunfire, but the status of forces on either said remains unknown and for the moment lost in the fog of war. At this point, if either suffers significant casualties, they are unlikely to make it publicly known.

    IDF tanks on the coast of the northern Gaza Strip on Sunday. Image: Israeli Army

    Meanwhile, the intensifying crisis for Palestinian civilians has not only led to massive street protests in various nations, particularly in Europe, but has resulted in rare criticism aimed at Israel from leading Western nations. The French government has issued scathing criticism of “unacceptable” Israeli settler attacks on Palestinians in the West Bank:

    More than 100 Palestinians have been killed in the West Bank since the outbreak of war in the Gaza Strip earlier this month, mostly during raids by Israeli forces or attacks by settlers, according to the Ramallah-based health ministry.

    “France strongly condemns the settler attacks that have led to the deaths of several Palestinian civilians over the past few days in Qusra and Sawiya, as well as the forced departure of several communities,” said a foreign ministry statement.

    And Norway too has condemned what it says is a massive and “disproportionate” response and death toll among Palestinians in the wake of the Oct.7 Hamas terror attack which killed 1,400 people. “International law stipulates that [the reaction] must be proportionate. Civilians must be taken into account, and humanitarian law is very clear on this. I think this limit has been largely exceeded,” Prime Minister Jonas Gahr Store aid in a public broadcast radio interview.

    “Almost half of the thousands of people killed are children,” he stressed. “Israel has the right to defend itself, and I recognize that it is very difficult to defend against attacks from an area as densely populated as Gaza,” Store said. “Rockets are still being fired from Gaza into Israel, and we condemn this.”

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

    Even the White House has begun to urge caution, with national security advisor Jake Sullivan telling the Sunday shows that even though Hamas used civilians as “human shields” – it’s still ultimately Israel’s responsibility to avoid hitting them.

    “They’re putting rockets and other terrorist infrastructure in civilian areas. That creates an added burden for the Israeli Defense Forces,” he said. “But it does not lessen their responsibility to distinguish between terrorists and innocent civilians and to protect the lives of innocent civilians as they conduct this military operation.”

    Tyler Durden
    Sun, 10/29/2023 – 15:05

  • Kendi's Critical Race Theory Is A Failed Marxist Doctrine
    Kendi’s Critical Race Theory Is A Failed Marxist Doctrine

    Authored by David Brady Jr via The Mises Institute,

    Ibram X. Kendi, the controversial author of How to Be an Antiracist, has been revealed as not only a hustler of horrid ideas but also a poor businessman. Kendi was appointed the head and founder of Boston University’s Center for Antiracist Research in 2020 following the aptly named “summer of love,” which saw riots in most major cities over calls for “racial justice.”

    Now, Boston University is committing mass layoffs of employees, as the Center has lost the $43 million that was donated to it at its opening. There have also been several complaints about management practices. The Center is laying off much of its staff as it switches to a new model that it hopes will keep it alive. It is another profound case of fiat academia being inefficient and unproductive, as well as peddling half-baked half-dead ideas.

    Kendi is not an original thinker so much as a wannabe-philosopher who repaints bunk ideas to drum up societal conflict.

    Kendi’s general philosophical thesis could be summed up simply as “Everyone is racist, and that extends to all of society. History can be understood as a white supremacist culture getting better at hiding its underlying racism.”

    Kendi and other critical race theorists theorize that, throughout history, so-called advancements in the welfare of racial minorities are merely a white supremacist culture’s success at better hiding its racism. One can summarize it best with a quote from the thriller The Usual Suspects: “The greatest trick the Devil ever pulled was convincing the world he didn’t exist.”

    The devil, for Kendi, would be “white supremacy” in culture. Every so-called advancement—from the outlawing of slavery to the end of Jim Crow laws—is simply this devil getting better at hiding itself.

    This is not an original idea on Kendi’s part in any respect. One can trace these ideas back to the philosophical ancestor to critical race theory: Karl Marx. When one analyzes critical race theory, it becomes abundantly clear that it is a portrayal of Marxist conflict and power theory but with the dimensions of race applied rather than class. Rather than the bourgeoise class oppressing the proletariat, it is the white class oppressing the nonwhite classes of society.

    A fundamental aspect of Marxist theory is that of the substructure, or base, and the superstructures of society. Marx posited that the fundamental relations in society are economic ones, between the working class and the exploitive capitalist class. The base creates the superstructure, which includes art, politics, religion, and other social relations that supposedly exist to reinforce the base. This is where Marx’s famed line “Religion is the opiate of the masses” comes from. Religion, as an aspect of the superstructure, exists to draw eyes away from the social relations that matter in the minds of Marxists.

    The critical race theory about the “white supremacy inherent in culture” is much the same. The base for the theorists is race relations. These theorists believe that the oppressive white class has constructed society to necessarily maintain a power dynamic over the nonwhite classes. Political achievements, no matter how much they may benefit racial minorities, belong as part of the superstructure, and thus they must be some protective shell over the true social dynamics.

    The Emancipation Proclamation, for example, would be seen as a means of preserving the base of society. Any and all political results short of revolution against the base are simply adaptations of the superstructure to protect the base. Kendi’s ideology ultimately becomes a revolutionary one. There cannot be a true advancement against “white supremacist culture” unless there is a true revolution, according to the critical race theorists.

    Kendi posits that the solution to racism is “antiracism,” or active discrimination against the “oppressor class.” This reeks of Joseph Stalin’s extermination of the kulaks or of Maoist reeducation. Mao Zedong’s goals may be the most aligned to the goals of Kendi. “Diversity, equity, and inclusion” seminars, taught for much the same reasons as Kendi’s “antiracism,” reek of Maoist struggle sessions.

    The modern kulaks of Kendi’s Marxist revolution are the “white supremacists.” According to Kendi, discrimination is needed to overthrow the base structure. The ideas of Kendi and the critical race theorists boil down to Marxist power dynamics, with a mixture of gnosticism and postmodernism. It is violent egalitarian ideology that attempts to paint history under one dynamic. It turns out that history is far more complex than that.

    So, one should not be surprised at the squandering of millions of dollars by Kendi and his “antiracist” center. Marx has been repudiated by economists, philosophers, and history itself. All the critical race theorists seek to do is repaint Marxist power dynamics under a new lens. There is no sound backing to their ideas so it is no wonder they continue to fail, even in academia.

    Kendi laments in a March 23 article: “The traditional construct of the intellectual has produced and reinforced bigoted ideas of group hierarchy—the most anti-intellectual constructs existing. But this framing is crumbling, leading to the crisis of the intellectual.”

    Marxism can be best understood as the unproductive of society demanding a place at the top of a new hierarchy.

    They prey upon the productive members of society and redistribute the success of others to themselves through violent revolution. It is an ideology of envy and failure. Kendi is one such unproductive citizen, one who would have no reinforcement in any sane “marketplace of ideas.” It is no wonder at all that he has failed even in fiat academia.

    Tyler Durden
    Sun, 10/29/2023 – 14:00

  • Visualizing The Key Investment Theme Of Each Decade (1950-Today)
    Visualizing The Key Investment Theme Of Each Decade (1950-Today)

    Over modern history, a key investment theme has broadly characterized each decade.

    In each case, a particular asset class, sector, or region captivated investors for an extended period, driving returns and outperforming the rest of the market.

    In the graphic below, Visual Capitalist’s Dorothy Neufeld shows 70 years of key investment themes, based on analysis from Ruchir Sharma of Morgan Stanley Investment Management via NS Capital.

    Investment Themes by Decade

    These decade-defining themes are often the product of a confluence of factors, including the macroeconomic environment, geopolitics, monetary policy, or other structural shifts like technological disruption.

    Here are the central investment themes since the 1950s, each with at least 400% cumulative returns over each period:

    *Price change for gold and oil, represented as an average. **Equity market performance of Brazil, Russia, India, China and oil prices, represented as an average.

    The 1950s saw a boom in European stocks during the post-war recovery. This was fueled by significant investment from corporations and governments as Europe became more integrated.

    Then in the 1960s, investors poured into blue chip stocks in the “Nifty Fifty” including Johnson & Johnson, Disney, and Coca-Cola. The main premise was that these strong franchises would deliver high returns over the long run. During the 1973-1974 bear market, shares cratered.

    As oil skyrocketed from $3.35 to $32.50 through the 1970s amid production and output cuts, commodities dominated, along with emerging economy exporters of oil and gold.

    Later, through the 1980s, Japanese stocks dramatically increased. In 1989, the Tokyo Stock Exchange made up 41% of all global equities. It had eclipsed the value of the U.S. equity market just two years earlier.

    In part owing to strong U.S. economic growth, American tech stocks flourished through the 1990s. While many high-flying tech stocks were wiped out during the crash in 2000, some still remain today. Qualcomm, which jumped 2,620% in 1999, is a multi-billion dollar semiconductor company. Amazon and Cisco were other survivors of this era.

    Pivoting from growth assets, investors returned to commodities and emerging markets over the 2000s, this time with BRIC economies—Brazil, Russia, India, and China. The 2010s saw the rise of FAANG stocks as tech proliferated across countless industries.

    The Next Decade Ahead

    Given how each decade seems to be defined by a key investment theme, Sharma suggests that it won’t be another driven defined by American stocks.

    The disconnect between the size of U.S. equity markets, at 43% of the global share, and its economic output, which is 26% of the world’s total, is one reason driving a new shift.

    Another factor is stark differences in valuations. Today, the U.S. stock market compared to the rest of the world is at its highest relative level in 100 years, suggesting it is overvalued and primed for a shift.

    Whether global stocks gain a greater global equity market share—to become a key investment cycle of this decade—remains an open question.

    Tyler Durden
    Sun, 10/29/2023 – 13:25

  • DOJ Corroborated Information From FBI Source Who Provided Biden Bribery Allegations: Official
    DOJ Corroborated Information From FBI Source Who Provided Biden Bribery Allegations: Official

    Authored by Zachary Stieber via The Epoch Times (emphasis ours),

    U.S. Department of Justice officials corroborated some of the information an FBI source provided to the bureau on allegations that then-presidential candidate Joe Biden and his son, Hunter Biden, were bribed, a former official who worked on the case said in newly reviewed testimony.

    “We did corroborate certain things” from the source, Scott Brady, the former U.S. attorney for the Western District of Pennsylvania, told a U.S. House of Representatives panel on Oct. 23.

    President Joe Biden and his son Hunter Biden attend the annual Easter Egg Roll on the South Lawn of the White House in Washington on April 10, 2023. (Drew Angerer/Getty Images)

    Members of Congress obtained and released over the summer a copy of the summary from FBI agents who spoke with the source, with the source conveying comments from Burisma executives concerning the Bidens.

    Among them was the claim that it cost $5 million to pay one Biden and $5 million to pay another Biden.

    Mr. Biden worked for Burisma, a Ukrainian firm, for years while President Biden was vice president, including in 2016. That’s the year the discussion involving bribery took place, the source told the FBI in 2020.

    Mr. Brady, appointed under President Donald Trump in 2017, told members this week he was tasked by superiors to accept and vet Ukraine-related information sent to or gathered by the U.S. Department of Justice (DOJ), which includes the FBI.

    “We were to assess the credibility of information and anything that we felt was credible or had indicia of credibility, we were then to provide to the offices that had predicated grand jury investigations that were ongoing,” Mr. Brady, who was asked to resign by President Biden after he took office, told the House panel.

    Lack of Communication

    After working to corroborate some of the information from the interview summary, Mr. Brady said his team passed the summary and the work they’d done to multiple offices, including the U.S. attorney’s office for the District of Delaware.

    That office is headed by U.S. Attorney David Weiss, another Trump appointee. Mr. Weiss has for years been investigating Mr. Biden for intentional tax avoidance and other crimes.

    Mr. Brady’s team briefed Mr. Weiss’ team in October 2020 on the summary, known as an FD-1023.

    What we were doing was, as a part of the briefing, giving them the investigative steps that we had taken within our limited ability to corroborate the information that the [source] had provided us, and we informed them that we felt that the 1023 had indicia of credibility sufficient to merit further investigation,” Mr. Brady said. “And so that’s what we communicated to them.”

    Neither Mr. Weiss’ office nor any of the other U.S. attorney’s offices who received the 1023 from Mr. Brady’s team reached back out about the document, according to Mr. Brady.

    He said there was “both a skepticism of the information that we were developing, that we had received, and skepticism and then weariness of that information” from Mr. Weiss and Mr. Weiss’ team.

    “I don’t want to speculate as to why, but I know that there was no information sharing back to us about what they were—or very limited. And, at one point, the communication between our offices was so constricted that we had to provide written questions to the investigative team in Delaware, almost in the form of interrogatories, and receive written answers back,” Mr. Brady said.

    That was not normal, he added.

    Mr. Weiss’ office declined to comment.

    Ukraine Funding

    The FBI source was reinterviewed in 2020 by the FBI at the request of Mr. Brady, who wanted more details about the allegations regarding the Bidens. The summary that resulted was ultimately obtained and released by Sen. Chuck Grassley (R-Iowa) and Rep. James Comer (R-Ky.).

    The document showed the source traveled to Ukraine and spoke with top Burisma executives, including owner Mykola Zlochevsky. The source said executives said Burisma hired Mr. Biden “to protect [the company], through his dad, from all kinds of problems” and that Mr. Biden would take care of problems “through his dad.”

    Ukraine’s president ultimately ousted Viktor Shokin, the prosecutor who was investigating Burisma, at the behest of President Biden.

    “I said, ‘We’re leaving in six hours. If the prosecutor’s not fired, you’re not getting the money,'” President Biden said at a public event in 2018, relaying the interaction about a $1 billion loan guarantee he threatened to withhold. “Well, son of a [expletive]. He got fired.”

    The FBI has largely declined to comment on the substance of the document but said previously the summary was part of a “sensitive investigation” and should not have been released to the public.

    The transcripts of the recent congressional interviews with Mr. Brady and U.S. Attorney E. Martin Estrada, appointed by President Biden, were obtained and reviewed by The Epoch Times.

    In his interview, Mr. Estrada confirmed IRS whistleblower accounts and said he rejected Mr. Weiss’ request to partner to prosecute Mr. Biden in California.

    Mr. Estrada also said that he believed several attorneys with Mr. Weiss’ office were able to bring charges in his district, the Central District of California, and that he offered office space and administrative support if they did.

    Mr. Biden was ultimately charged with tax and firearm crimes in Delaware. He has not been charged in California or Washington, another district where the Biden-appointed U.S. attorney turned down a request from Mr. Weiss to partner.

    Mr. Weiss earlier this year was made special counsel as he continues investigating Mr. Biden. Both Mr. Weiss and Attorney General Merrick Garland, appointed under President Biden, have been unable to explain why he needed to be made special counsel if he already had what they described as the “ultimate authority” to bring charges against the target.

    Mark Tapscott contributed to this report.

    Tyler Durden
    Sun, 10/29/2023 – 12:50

Digest powered by RSS Digest

Today’s News 29th October 2023

  • Hamas’s October 7 Attack: Discourse In The Age Of Artificial Intelligence
    Hamas’s October 7 Attack: Discourse In The Age Of Artificial Intelligence

    Authored by Ofira Seliktar via RealClear Defense,

    Hamas’s massacre of Israeli civilians, known as ‘Black Sabbath,’ caught virtually everyone by surprise, even though the group had a long history of violence. One reason for this situation is the lack of information on several aspects of Hamas’s modus operandi. The resulting lacuna has biased the algorithms underpinning search engines that drive artificial intelligence (AI) on the subject.

    The AI Challenge

    The prominence of AI has profoundly and irrevocably changed the human discourse. From its inception on Google and other search engines to the most recent iteration of chatbots such as ChatGPT or Bard, complex algorithms have increasingly driven this process.

    A large literature, mostly highly specialized, has analyzed numerous possible biases of the AI discursive products. Bias is created when one idea/topic/concept is disproportionally weighted against another. Faulty algorithms can introduce bias and need to be adjusted. But other issues are also at play.

    • Choosing representative data to correct for bias is also recommended, but in cases where voluminous data is generated on a daily basis over extended periods of time, such remedies are not practical. Experts point out biases which occur when there is imbalance in available data, in the sense that certain topics are overrepresented, whereas information on others hardly exists.
    • Quality of data in the discourse varies from rigorous research appearing in respectable academic publications to conspiracy theories found in niche outlets and social media. The sheer magnitude of ideas/topics/concepts in the discursive universe makes it hard to evaluate their quality. As a rule, discerning players in the discourse shy away from outlandish conspiracy theories, but evaluation of the in-between narratives is exceedingly hard.
    • Relations and causations between variables, two distinctive concepts, are regularly confused in discursive practices, creating a host of fallacies and biases in the narrative. When correlation is mistaken for or misrepresented as causation, it generates a “reality” that does not exist.

    These three sources of bias helped to mask Hamas’s true character as a savage terror group, with many adopting the narrative of a national resistance group fighting to liberate Palestinians from “Israel’s oppression.”

    Hamas’s ‘Black Sabbath’ Attack: The Current Problem

    Israel’s standing in the discursive universe has deteriorated dramatically in the past three decades. As a result of delegitimization and vilification, the view of Israel as a colonial -apartheid state which suppresses and physically eliminates Palestinians is quite common. Much of this view is a byproduct of the neo-Marxist, critical theory paradigm which has dominated social science. The paucity of contradictory ideas has aggravated the bias. Past remedies to correct the imbalance such as creating Israel studies programs have fail to address the problem.

    Constructing Israel as an illegitimate colonial-apartheid enterprise had legitimized terrorist violence under the category of “national resistance.”  Although Hamas and its junior partner Palestinian Islamic Jihad (PIJ) have been considered terror groups in many Western jurisdictions, their true goal of eliminating Israel was hidden because of the AI-driven distortions of the narratives.

    Correcting the Imbalance

    Four issues need to be addressed to correct the imbalance.

    Hamas as ISIS: Comparisons between the two groups surfaced soon after the attack but were of rhetorical-declarative nature. Only a handful of reports provided some background facts, often confusing or incorrect. In reality, the military wings of Hamas and the PIJ followed the modus operandi of Abu Musab al Zarqawi, a Palestinian terrorist who split from al Qaeda and was sheltered by Iran before moving to Iraq. IRGC-QF helped al Zarqawi to found the Islamic State (later ISIS) where he implemented the techniques of two books known as the “the jihadist bibles:” Jurisprudence of Blood (Masail fi Figh al-Dima) and Management of Savagery. The writings provided an Islamic justification for inflicting extreme violence on enemies such as beheadings and burning alive. These savage spectacles were said to attract maximum international attention.

    Hamas’s strategy of embedding: the turning of civilians into human shields. Although several commentators have pointed out that the population of Gaza is used to defend the military wing of Hamas and PIJ, the discourse is not systematic and confined mostly to the description of the suffering of the civilians. The IRGC-QF doctrine of using human shields was based on Brigadier General S. K. Malik’s The Koranic Principle of War. Adopted to asymmetrical conflicts, it stipulated that embedding among non-combatants could level the playing field when engaging Western armies obligated to follow the humanitarian laws of war. The doctrine was successfully tested during the 2006 Lebanon War where Hezbollah used public and private spaces to house military assets and launch attacks. Critically, medical authorities, on order of Hezbollah and Hamas, refused to provide separate numbers of civilian and terrorist deaths.

    Because of International Humanitarian Law that strives to protect non-combatants, embedding caused Israel reputational damage, made worse by Hezbollah’s and Hamas’s staging of alleged catastrophes.

    Hamas as a parasitic organization feeding on the civilian population. It has been widely known that Hamas has diverted billions of dollars of international support to build a one-of-a-kind military complex in the Gaza Strip. In addition, equipment like water pipes were repurposed to make rockets. However, the true scope of the parasitic enterprise and the depth of its corruption has not been systematically studied. In a telling example, a journalist commenting on Israeli bombing of the Rimal neighborhood in Gaza City, lamented the destruction of the “beating heart” of Gaza. In actuality, Rimal, known as the Beverly Hills of Gaza, houses the Hamas and PIJ elite and their families in extreme luxury.

    The study of the highly corrupt governance and financial system presided over by Hamas is urgently needed. Judging by the case of Hezbollah, Iran- created prototype of a parasitic organization, finding information would be challenging but absolutely essential.  

    Performative and Elimination Antisemitism: Iran is the largest producers of antisemitic content in the world. The material, translated into thirty-six languages, ranges from classic antisemitic treatises popular in Nazi Germany, the writings of Muslim Brothers Hassan al Bana and Sayyed Qutb, to assorted modern conspiracy theories. Despite considerable variety, the messaging is the same: Jews and their collective embodiment, Israel, are dangerous to the human race and must be exterminated. Calls to destroy Israel, also known as the Little Satan, occur daily; the prophetically minded Supreme Leader Ayatollah Khamenei used verses from the Koran to calculate the exact day of Israel’s demise. A digital clock was erected in Tehran counting down the time. Iran’s proxies have propagated the same themes.

    Although scholars and lay observers have debated the meaning of this extreme manifestation of antisemitism and anti-Zionism, most argue that the phenomenon is performative, in essence, a rhetorical strategy to increase domestic legitimacy or compete with the Sunnis in the Middle East. Only a small minority holds that the Islamist theocracy (and its proxies) is eliminationist, that is, given the opportunity would annihilate the Jews and Israel. Hamas atrocities on the Gaza border communities should be reexamined within the context of eliminationist antisemitic ideology produced and disseminated by Iran.

    Summary

    Historically, the discourse on Hamas and Israel has been replete with bias. Prominent ideas, topics, and concepts have been promoted to vilify Israel, Jews, and the Zionist cause while glorifying the “legitimate” struggle and acts of savagery committed by Hamas. This discourse is reinforced by AI algorithms which, as noted, deepen the bias. What has been ignored in the past should be crucial in the construction of the current narrative, specifically, the origins of Hamas’ savage tactics, its use of human shields, its parasitic relationship to the inhabitants of Gaza, and the antisemitic attacks launched by Iran. In each instance, corrective measures are suggested to redress the imbalances to better inform the participants in the discursive community.


    Ofira Seliktar is Professor Emerita of Political Science at Gratz College, Melrose Park, PA. Previously, she was Scholar in Residence at the Middle East Research Institute, University of Pennsylvania.

    This essay is based on the author’s work:  “Slaying the Little Satan: Iran’s War against Israel,” in progress: “Iran, Revolution and Proxy Wars,” Palgrave Macmillan, 2019, co-authored with Farhad Rezaei; and “Is Iran’s Antisemitism and Anti-Zionism Eliminationist or Performative: A Question for the Nuclear Age,” Israel Affairs, 2022.

    Tyler Durden
    Sat, 10/28/2023 – 23:20

  • White House Freezes Gun Exports In New Attack On US Gun Manufacturers
    White House Freezes Gun Exports In New Attack On US Gun Manufacturers

    In an announcement seemingly timed to minimize publicity, the US Commerce Department late Friday declared a 90-day freeze in the approval of exports for most American-made firearms, along with a review of the department’s support of the Shooting, Hunting and Outdoor Trade — or “SHOT” — Show. 

    “The review will be conducted with urgency and will enable the Department to more effectively assess and mitigate risk of firearms being diverted to entities or activities that promote regional instability, violate human rights or fuel criminal activities,” the department said

    Before continuing, let’s pause to marvel at the soaring hypocrisy of the US government — which has armed murderous autocrats, Islamic extremists and Mexican drug cartels — expressing concern about American weapons being used to “promote regional instability, violate human rights or fuel criminal activities.”

    This latest federal assault on gun rights will apply to requests to export semiautomatic and non-automatic firearms sold to non-government recipients, Bloomberg reports. Naturally, it won’t apply to Ukraine or Israel, or some 40 other foreign governments that are partners to the United States in an export-control pact.  However, it will apply to some of the most important markets for the domestic firearms industry, including Brazil, Thailand and Guatemala. 

    A Smith & Wesson worker at one of the company’s factories (via Mainebiz)

    For those who think a strong gun industry is essential to safeguarding the right of armed self-defense, the pause isn’t nearly as worrisome as what new policies may be installed after the review is complete.

    Bloomberg, which is owned by a gun control enthusiast and which appeared to be first to be told of the development, is taking a victory lap over the announcement, linking it to a series of articles scrutinizing the federal government’s oversight and encouragement of exports. A key milestone came in 2020, when the Trump administration moved responsibility for approving gun exports from the State Department to Commerce. 

    One of those recent articles focused on the SHOT Show, the enormous Las Vegas gun-trade show that attracts more than 50,000 gun company reps, dealers and individuals from all over the world. Specifically, Bloomberg questioned the propriety of the Commerce Department’s participation in the SHOT Show, via an “International Trade Center” space to host foreign buyers and promote US exports, a practice that began in 2013. 

    According to Bloomberg, the biggest beneficiary of Commerce-aided gun-export growth is New Hampshire-headquartered Sig Sauer (SIG Sauer P320-XTen via Guns & Ammo)

    “In the first year of the partnership, Commerce’s Foreign Commercial Service, which operates out of US embassies and consulates, steered 370 buyers to SHOT Show,” reports Bloomberg. “By January 2023, that number had jumped to more than 3,200.” Commerce employees have also organized group trips to the show from a variety of countries

    Bloomberg lamented that “American-style gun culture is starting to blossom across Latin America,” and that American companies, with Commerce assistance, are pouring guns into violent and volatile Guatemala. 

    In September, Senator Elizabeth Warren and three other congressional Democrats sent a letter to Commerce Secretary Gina Raimondo expressing alarm about Commerce serving as a “booster and concierge” to the firearms industry, with particular concern about the export of so-called “assault weapons.” The letter included 10 detailed questions about the Commerce Department’s handling of its oversight. 

    The export-approval freeze comes the same week that gun control czar Kamala Harris praised Australia for its approach to gun control, which includes mass confiscation and requiring citizens to prove to the government why they need to own a gun. 

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

    Tyler Durden
    Sat, 10/28/2023 – 22:45

  • COVID-19 mRNA Vaccines Reduce A Major Beneficial Bacteria, Gut Biodiversity: Research
    COVID-19 mRNA Vaccines Reduce A Major Beneficial Bacteria, Gut Biodiversity: Research

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

    Research has shown that COVID-19 mRNA vaccines reduce bacteria belonging to the Bifidobacteria genus, a common and beneficial gut bacteria. COVID vaccination is also linked to reduced gut biodiversity.

    (Stjrw/Shutterstock)

    Works by gastroenterologist Dr. Sabine Hazan, the CEO of ProgenaBiome, a microbiome genomic research laboratory, found that after COVID-19 vaccination, people’s Bifidobacteria levels can fall by as much as 90 percent. Some of her unpublished data found that Bifidobacteria levels are negligible in vaccinated people.

    Bifidobacteria are among the first microbes to colonize a baby’s gastrointestinal tract as he or she passes through the mother’s birth canal. They are believed to exert positive health effects on their host.

    Bifidobacteria interact with the immune system, and their presence is linked with improved immunity against pathogens and cancer.

    Dr. Hazan’s prior works on hospitalized COVID-19 patients showed that patients who had severe COVID-19 tended to have no or low Bifidobacteria levels, whereas those with higher stores of Bifidobacteria tended to develop asymptomatic infection.

    In her research, she came across a pair of siblings enrolled in the COVID-19 vaccine clinical trials.

    One sibling got placebo, and one got the vaccine. The one sibling that got the vaccine got harmed … and she has no Bifidobacteria bacteria. Her brother, who got the placebo and was not harmed, has this Bifidobacteria,” she told The Epoch Times.

    The Importance of Bifidobacteria

    The loss of Bifidobacteria was discovered by comparing microbiome diversity both before and after vaccination. Generally, the loss is transient, while it can persist for over nine months in more extreme cases.

    There are also rare cases where patients’ Bifidobacteria population increases. Dr. Hazan spoke about a patient’s Bifidobacteria population more than doubling a month after vaccination. However, at six to nine months postvaccination, the patient’s number of Bifidobacteria had fallen to zero.

    Dr. Hazan said it is unknown why some people’s Bifidobacteria levels rise after vaccination.

    Bifidobacteria are a common probiotic, and it is well-established that humans can consume them to improve gut health. In fact, products containing Bifidobacteria make up trillions of dollars in the market share of the probiotic market.

    The absence of Bifidobacteria microbes is linked to chronic diseases, including diabetes, cancer, and autoimmune diseases. Some studies have shown that the administration of probiotic Bifidobacteria can help improve diabetic conditions and help fight cancer.

    Loss of Other Microbes After Vaccination

    Some patients may have other microbiomes missing after vaccination, and trying to track down what microbes the patient might have had before vaccination involves difficult forensics work, according to Dr. Hazan.

    One study by researchers from Hong Kong found that mRNA COVID-19 vaccine administration was directly linked to reduced gut biodiversity, resulting in a loss of at least 10 different microbes.

    While some vaccinated people saw an increase in certain bacteria, vaccination reduced overall microbiome diversity.

    The authors also noted that the risks of common adverse reactions like fever, headaches, pain at injection sites, and so on may also be linked to the bacteria in the gut. For example, patients with high Bifidobacteria tended to be less inclined to develop vaccine adverse reactions.

    A gut microbiome with low biodiversity is associated with poor health and aging. After birth, babies develop a highly diverse gut microbiome. As they age, they lose this diversity as they develop diseases, take antibiotics and drugs, eat unhealthily, sleep less, etc.

    Bifidobacteria can comprise up to 95 percent of the baby’s gut microbiome during infancy. This then declines and stabilizes at under 10 percent in adulthood.

    Yet Dr. Hazan has seen cases of babies breastfed by vaccinated mothers possessing no Bifidobacteria. The long-term consequences of this are unknown, especially since Bifidobacteria are involved in building a person’s immune system.

    The increasing awareness of the importance of the gut microbiome in health has led some parents to freeze their baby’s first stool for fecal transplant in the future, internal physician Dr. Yusuf Saleeby told The Epoch Times. As the baby grows and his or her microbiome depletes, the fecal sample may be transplanted to correct the gut microbiome composition.

    If the child gets sick and there’s dysbiosis, the parents can go back to the company ... and reinoculate those microbes back into the baby, to try to bring back what the baby should have had,” he explained.

    Tyler Durden
    Sat, 10/28/2023 – 22:10

  • FBI Raids Baltimore City Taxpayer-Funded 'Safe Streets' Program For Possible Gang Infiltration
    FBI Raids Baltimore City Taxpayer-Funded ‘Safe Streets’ Program For Possible Gang Infiltration

    Democratic leadership in imploding Baltimore City has funneled city and state dollars into a super-progressive anti-violence program called “Safe Streets,” which pushes ‘non-policing’ techniques to deter violent crime. Mayor Brandon Scott has championed Safe Streets, yet many residents have complained the program is a sham. 

    In some terrible optics for the Democratic mayor, the FBI raided a Safe Streets location in northeast Baltimore on Thursday. Local media WBALTV said what the FBI was looking for during the raid remains unclear. 

    A spokeswoman for the FBI Baltimore Field Office told WBALTV that agents conducted “court-authorized law enforcement activity” at the Safe Streets office in Belair-Edison in northeast Baltimore. 

    Non-profit healthcare corporation LifeBridge Health, who manages the site, told the media outlet: 

    “The FBI this morning enacted a search warrant at the Belair Safe Streets site managed by LifeBridge Health. Two of our staff have indicated that federal agents showed up at their residences. We have no other information at this time. We are treating this incident seriously and complying with requests from authorities.”

    The Belair-Edison location is one of ten Safe Streets locations across the metro area where so-called “violence interrupters” are stationed and are deployed into neighborhoods (instead of police) to prevent violence from exploding. 

    “They are supposed to stop people in the community from fighting and with the drug situation in the community. I don’t know. This is definitely amazing today. I heard it all,” said A.J. Gary, a Belair-Edison resident.

    Resident Gay continued, “It doesn’t make any sense to me. What’s the use of having the program if y’all doing the same thing people in the streets are doing, but y’all supposed to be helping us?”

    Perhaps a report from Fox Baltimore sheds more light on what precisely the FBI was looking for at the Belair-Edison location:

    “The FBI is not releasing details, but sources tell FOX45 News that federal agents are looking into possible gang affiliation.” 

    “This is concerning to see, and I am seeking additional information. We should always expect public safety agencies and those that receive city funds to carry out important public safety initiatives to follow the law,” Mark Conway, Chair of the council’s Public Safety and Government Operations Committee, wrote in a statement. 

    Conway said, “None of this surprises us. The people who oversee (Safe Streets), MONSE [Mayor’s Office of Neighborhood Safety and Engagement], has a lot more questions now to answer,” said Schleifer.

    Republican State Del. Nino Mangione from Baltimore County stated, “I again call for a full and complete and full audit of all Safe Streets accounts.  Further, I believe the full results of these audits should be released in their entirety to any local, state or federal entity suppling funds to the Safe Streets program.” 

    MONSE responded to the raid on X: 

    Any malfeasance of anyone involved in this activity does not and should not diminish the work that Safe Streets Baltimore staff do on a daily basis — putting themselves in harm’s way to mediate conflicts before they escalate into incidents of gun violence.

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

    One X user responded to MONSE’s post: “Safe streets = bunch of felons and drug dealers.” 

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

     

     

     

     

    Judging by the out-of-control crime in the corrupt hellhole of a city, the FBI raid suggests maybe, just maybe, the tax-payer-funded progressive experiment was doing something super illegal. 

    This is terrible optics for the young mayor pushing disastrous progressive policies as people and businesses are fleeing the collapsing metro area for safer areas.  

    Tyler Durden
    Sat, 10/28/2023 – 21:40

  • Advice For Men From TV's 'Hercules': Bring Back Masculinity
    Advice For Men From TV’s ‘Hercules’: Bring Back Masculinity

    Authored by Randy Tatano via The Epoch Times (emphasis ours),

    In mythology, Hercules is a hero famous for his strength and bravery. A protector. A classic man’s man who, back in the day, every little boy would admire and want to emulate. In real life, Hercules was played on television by actor Kevin Sorbo, who says it’s time for guys to start acting like real men again. So he’s producing movies and books to get that message across.

    Actor, director, and producer Kevin Sorbo.

    Sorbo, who left woke Tinseltown behind for Florida saying, “Truth is kryptonite in Hollywood” talks about how the portrayal of men on television doesn’t exactly inspire guys to be masculine. The liberal narrative is very evident in many current television shows. “Every sitcom seems to have a fat, lazy husband.” And over the years, the media’s promotion of the sensitive “beta male” has seeped into our culture.

    But he feels that the decline of masculinity has a root cause that can be traced to the way children are raised. His own upbringing included exposure to old-fashioned hard work by his family. “I had great examples from my grandfather and father. My father was an only child on a farm in Iowa. And I didn’t have teachers telling me how to vote or how to think. Everything starts with parents. It’s important to have a dad and a mom raising children. Kids watching TV think dads are not important in a family,” he said.

    His wife, Sam, echoed that sentiment as she talked about raising their own children. “We need to empower children to be courageous. We raise them in truth, we raise them to defend the truth. When your children are grounded in truth they are strong.”

    So the Sorbos (Sam is also a veteran actress) are using media to remind people about the traditional roles of men and women, producing both movies and a children’s book. Their latest film, “Miracle in East Texas,” is a true story about a couple of flim-flam men during the Great Depression who make a living conning widows into buying shares of bogus oil drilling ventures. The men act like normal men and the women are portrayed as traditional women.

    Written by award-winning writer Dan Gordon (“Rambo: Last Blood,” “The Hurricane,” “Wyatt Earp”), this very enjoyable movie takes a twist you might not expect. When asked what he hoped people would get out of the movie, Kevin simply said he wants moviegoers to be entertained without a political or social message buried in the plot: “I hope they have fun. I like to do movies the way Hollywood used to, where the good guys win and the bad guys lose. We’ve been doing movies that have more of a positive nature.”

    Sam took things a bit farther: “We like doing movies about real people doing miraculous things … it gives people hope.” In addition, “Miracle in East Texas” is being released as a book.

    Sam and Kevin Sorbo co-produced, and star in, the comedy “Miracle in East Texas.” Mr. Sorbo also directed the film.

    Kevin Sorbo is also taking a literary approach to teach boys about masculine roles. He has written a children’s book which includes traditional male values. “The Test of Lionhood” is a Christian children’s book that teaches kids about masculinity, with lessons about bravery and perseverance. “It’s pro-child. It’s a story about a little lion cub who saves his sister,” he said.

    And while Kevin Sorbo may be physically built like a mythological hero, being masculine doesn’t require a guy to look like Hercules. He said masculinity is not about physical appearance, but traditional values.

    “Being a guy who is a provider and a protector for the family, with strong moral guidelines, being a loving husband, a loving father, a good neighbor,” he said.

    Sam added that women are not immune from the liberal portrayal of men: “We tend to fool ourselves into making poor choices, thinking that we’re not giving up anything by settling for second best. It’s become very difficult for women to admit they want a manly man.”

    She said that people must be selective about media. “Support good quality films, but I caution people about allowing poor stuff into your brain, because that’s the degradation of our culture. You are what you consume with your eyes, your ears, and your heart.”

    And as far as the transgender “trend” to eliminate masculinity, Kevin Sorbo has no patience for parents who allow or encourage young children to identify as a different sex. Just because a little boy might try on his mother’s shoes doesn’t mean he wants to be a girl or should transition into one with hormones or drastic surgery.

    “What they’re doing to kids is wrong. Let kids be kids … these children can’t make up their minds at that age,” he said.

    And Sam said it’s crucial that parents monitor what their children see and hear. “Be careful of who you allow access to your child.”

    Like many conservatives who are baffled by this war on masculinity, Kevin summed things up with a simple wish: “Make being normal, normal again.”

    Tyler Durden
    Sat, 10/28/2023 – 21:10

  • Warnings About Alarming Pre-Oct 7 Hamas Activity Ignored, Say Israeli Surveillance Soldiers
    Warnings About Alarming Pre-Oct 7 Hamas Activity Ignored, Say Israeli Surveillance Soldiers

    The Oct 7 Hamas military and terrorist attacks on Israel came as shock to many — but not to surveillance soldiers of the Israel Defense Forces (IDF) who say their warnings about their alarming observations along the Gaza border were ignored by higher-ups. 

    In interviews with Israeli media, soldiers of the IDF’s Combat Intelligence Corps say that, for at least three months before the attacks, they observed Hamas members conducting paramilitary training along the fenceline, digging holes, studying the area with maps, examining the ground surface and even placing and detonating explosives

    Speaking to Kan News on Wedneday, Yael Rotenberg and Maya Desiatnik expressed their anger over the IDF’s failure to heed their repeated reports of the ominous activity. Compounding their rage, the two were the only Combat Intelligence Corps soldiers who survived the Hamas attack on their base near the Nahal Oz kibbutz, less than a half-mile southeast of the Gaza border.  

    Yael Rotenberg is one of four Israeli intelligence soldiers blowing the whistle on the IDF’s failure to heed their warnings (Kan TV via Times of Israel)

    “It’s infuriating. We saw what was happening, we told them about it, and we were the ones who were murdered,” said Desiatnik.

    The types of activity they observed at the border was concerning enough, but, even more strikingly, the pace had steadily intensified as Oct 7 approached. Desiatnik said it proceeded from weekly, to daily, to almost nonstop. In addition to her general visual observations, she said she was able to obtain information about the substance of the training, which encompassed driving tanks to bypassing the fence via tunnels.

    She told Kan News that she’d concluded “it was just a matter of time” until Hamas unleashed an attack on Israel. 

    Two other IDF intelligence soldiers shared similar experiences with Israel’s Channel 12.

    We sat on shifts and saw the convoy of vans. We saw the training, people shooting and rolling, practicing taking over a tank. The training went from once a week to twice a week, from every day to several times a day,” said Amit Yerushalmi. “We saw patrols along the border, people with cameras and binoculars. It happened 300 meters from the fence. There were a lot of disturbances, people went down to the fence and detonated an outrageous amount of explosives, the amount of explosives was crazy.” 

    Yerushalmi said she dutifully recorded all her observations, with no apparent impact on the command whatsoever. 

    These four IDF soldiers aren’t the only ones who say their warnings were ignored. Egyptian intelligence officials say they also attempted to alert Tel Aviv. “We have warned them an explosion of the situation is coming, and very soon, and it would be big. But they underestimated such warnings,” an anonymous Egyptian official told the Associated Press

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

    According to report by Israel’s Ynet, Egypt’s intelligence minister personally phoned Israeli Prime minister Benjamin Netanyahu just 10 days before the attack, warning that Hamas was poised to do “something unusual, a terrible operation.” 

    Ever since the political, militant and terror group’s founding in the late 1970s, right-wing Israeli officials have fostered the rise of Hamas to ensure there is no viable “partner for peace” on the Palestinian side — allowing Israel to forever postpone making territorial concessions while further settling the West Bank and paying diplomatic lip service to a two-state solution.  

    To an extent unprecedented in Israel’s history, the current Netanyahu government is dominated by ultra-nationalists and religious extremists representing parties such as “Religious Zionism” and “Jewish Power.” In the wake of the Oct 7 atrocities, they won’t have to worry about a negotiated peace with the Palestinians anytime soon. 

    Tyler Durden
    Sat, 10/28/2023 – 20:40

  • Senator Demands Answers From FDA On Safety Signal For COVID Vaccines And Children
    Senator Demands Answers From FDA On Safety Signal For COVID Vaccines And Children

    Authored by Zachary Stieber via The Epoch Times (emphasis ours),

    The U.S. agencies that clear and recommend vaccines should disclose when they learned that COVID-19 vaccines may cause seizures and convulsions in children, a U.S. senator says.

    Sen. Ron Johnson (R-Wis.) urged the U.S. Food and Drug Administration (FDA) and U.S. Centers for Disease Control and Prevention (CDC) to disclose the information after both agencies refused to do so to The Epoch Times.

    In a preprint paper published on Oct. 15, FDA researchers said they detected a safety signal for seizures/convulsions in children aged 2 to 5 following COVID-19 vaccination.

    The paper covered data from no later than April.

    About a month before the paper was released, the FDA authorized new shots from Moderna and Pfizer for children as young as 6 months of age. The CDC then announced it was recommending the shots for virtually all Americans, despite little data supporting such a recommendation. Neither agency mentioned the signal of seizures and convulsions.

    When was FDA and CDC first made aware of the findings of the FDA-funded study eventually published as a preprint on October 15, 2023? Provide the names and titles of the individuals who were initially made aware of the study’s findings,” Mr. Johnson asked the heads of the FDA and CDC on Oct. 25.

    In their paper, the FDA researchers said that the signal should be investigated further “in a robust epidemiological study.”

    Mr. Johnson asked whether the FDA is pursuing such a study, and for any other steps the FDA and CDC have taken in response to the signal being found.

    Sen. Ron Johnson (R-Wis.) speaks during an interview for American Thought Leaders in Washington on May 15, 2023. (Madalina Vasiliu/The Epoch Times)

    Mr. Johnson said the new information could change the promoted view that the benefits of the vaccines outweigh the risks. The CDC and FDA said that was the case for nearly all Americans, but many other countries, such as Denmark, have limited COVID-19 vaccination to select groups in light of waning vaccine effectiveness and the high levels of prior infection in the population.

    The FDA has refused so far to say when its officials first learned of the signal.

    “The FDA is confident in the safety, effectiveness and quality of the COVID-19 vaccines. The available data continue to demonstrate that the benefits of these vaccines outweigh their risks,” a spokeswoman told The Epoch Times in an email, ignoring a question about when the signal was first detected.

    The CDC did not respond to a request on when it was first informed of the signal.

    Pfizer and Moderna have also not responded to queries.

    Transparency advocates said the lack of transparency undermines public trust in the health agencies.

    “Trust is lost in public health policy recommendations when health officials either refuse or are slow to make information available that can help people weigh the risks for themselves when considering their own current health and medical history,” Barbara Loe Fisher, founder and co-president of the National Vaccine Information Center, told The Epoch Times via email.

    Other Concerns

    Mr. Johnson, the ranking member of the Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations, has perhaps been the member of Congress most focused on COVID-19 vaccine safety, repeatedly asking federal officials for information that has been withheld or reported in the media.

    Mr. Johnson, for instance, asked the FDA for results of data mining done on adverse event reports after The Epoch Times obtained the results from similar mining that showed federal officials detected hundreds of signals for the Pfizer and Moderna shots.

    The FDA in September refused to provide Mr. Johnson with the requested data, claiming it could not do so because of ongoing litigation over the information.

    Pfizer and Moderna bivalent COVID-19 vaccines are readied for use at a clinic in Richmond, Va., on Nov. 17, 2022. (Steve Helber/AP Photo)

    Mr. Johnson has sent 60 letters to federal agencies to try to get answers, but has received little in return.

    “Federal health agencies must be transparent and provide all the information they have so that patients can benefit from informed consent. To date, they have failed to do so,” Mr. Johnson told The Epoch Times in an email. “It is well past time for them to divulge what they know.”

    Mr. Johnson told the leaders of the FDA, the CDC, and the U.S. Department of Health and Human Services that they “have a duty to provide the American people with complete and transparent data regarding the safety and effectiveness of the COVID-19 ‘vaccines'” and that it is “completely unacceptable” that they’ve refused to be transparent.

    “The fact that the vast majority of my questions and information requests remain unanswered or outstanding,” he wrote, “only heightens my level of suspicion.”

    Tyler Durden
    Sat, 10/28/2023 – 20:10

  • Joy Behar Reminds America She's A Moron With AR-15 Misinformation
    Joy Behar Reminds America She’s A Moron With AR-15 Misinformation

    It’s hard to say which of the covenous crones on The View is the dumbest, but co-host Joy Behar certainly took the cake this week when she told millions of wine moms that AR-15 rifles will obliterate deer, making them inedible.

    While discussing last week’s mass shooting, in which 40-year-old Army reservist and firearms instructor Robert Card killed 18 people before he was found dead Friday evening of an apparent self-inflicted gunshot wound, Behar and crew floated the idea of an assault weapons ban.

    “I would love to see an assault weapons ban. Like President Reagan, I don’t believe they’re a sport or hunting instrument. It’s like shooting fish in a bucket, but that’s my tea,” said co-host Sara Haines.

    To which Behar responded: “But also, if you shoot with an AR-15, let’s say you shoot a deer, you can’t eat it because you basically demolish the animal.

    Watch:

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

    While 10 states restrict hunting with a .223 or 5.56 round used in an AR-15, mostly because they aren’t powerful enough and could wound vs. kill larger game, a 2022 survey from the National Shooting Sports Foundation found that 40% of hunters use Modern Sporting Rifles (mostly consisting of the AR platform).

    It should also be noted that the .223 was introduced as an alternative to the .308 (7.62 NATO) due to its ability to be manufactured quickly and inexpensively, and in part because it’s less lethal, rendering an enemy incapacitated in battle vs. killing him – thus, placing a further strain on resources.

    As a reminder, Behar’s ignorance knows no bounds:

    Photo via rmef.org

    Tyler Durden
    Sat, 10/28/2023 – 19:40

  • House Speaker Johnson: Russia, China, & Iran Are The New Axis Of Evil
    House Speaker Johnson: Russia, China, & Iran Are The New Axis Of Evil

    Authored by Kyle Anzalone via AntiWar.com,

    Representative Mike Johnson vowed to support the wars in Ukraine and Israel in an interview after becoming House Speaker. The Congressman told Sean Hannity that China, Russia, and Iran make up an “axis of evil” that poses a huge threat to the US.

    The Speaker presented Moscow, Beijing, and Tehran as a trilateral threat to Washington. “Big priorities in this moment right now. We have Israel being attacked, we have unrest, we have the Ukraine situation we’ve got to deal with, we have China being aggressive, we have Iran with all the meddling, and China, Russia, and Iran working together. This is a dangerous time.” he said.

    “Hamas and Hezbollah are proxies of Iran, and they’re tied in now with Russia and China. I mean, it is a new axis of evil. That’s how we see it, “Johnson continued, the states posed a “huge [threat to the US.] It’s it’s the biggest threat since World War II.”

    On Ukraine, Johnson stated that the support for Ukraine must continue. “Now we can’t allow Vladimir Putin to Prevail in Ukraine because I don’t believe it would stop there,” he said.

    “And it would probably encourage and empower China to perhaps make a move on Taiwan. We have these concerns. We’re not going to abandon them.”

    The Speaker noted he would like to see more oversight over additional aid but did not say it was a requirement to pass a multi-billion assistance bill for Ukraine.

    Johnson explained that he does support the White House’s proposed $105 billion bill that would fund the War in Ukraine, Israel’s war on Gaza, fund Washington’s military buildup in the Pacific, and provide funds to increase security at the southern border. The Speaker said the consensus among House Republicans is to split the funding into different bills.

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

    As well as supporting future aid for Ukraine, the Speaker is willing to send American soldiers to the Middle East in defense of Israel. “Watching it very closely, one thing that House Republicans are resolved on is that we must stand with our most important Ally in the Middle East, and that’s Israel.” He added, “I hope that it doesn’t come to boots on the ground.”

    Tyler Durden
    Sat, 10/28/2023 – 19:10

  • Hamas Vows To Release 8 Russian-Israeli Hostages After Talks In Moscow
    Hamas Vows To Release 8 Russian-Israeli Hostages After Talks In Moscow

    We reported earlier that Hamas on Thursday sent a delegation to Moscow, a rarity, in order to engage with Russian diplomats on the Gaza-Israel crisis. The controversial meetings appear to have born fruit for the Kremlin side, particularly related to dual Russian citizens who are being held by Hamas, among the more than 220 Israeli captives who haven’t been heard from since Oct.7.

    According to The Moscow Times, “Hamas is trying to locate eight Russian-Israeli dual citizens among nearly 230 taken hostage during the Palestinian militants’ attack on Israel after Moscow’s request to free them, Russian news agencies reported Saturday.”

    Ministry of Foreign Affairs, file image: Alamy

    So far a total of four hostages have been released after international behind-the-scenes talks involving Qatar. Two of these were Americans from Chicago, which has led to some sectors within Israel voicing criticism that the government could be too focused only on freeing dual nationals, to satisfy international partners. 

    Concerning Russia’s request to see its nationals go free, Hamas said, “From the Russian side, via the Foreign Ministry, we received a list of citizens that have dual citizenship,” according to senior Hamas representative Moussa Abu Marzook.

    “We are looking for those people… It is hard but we are looking. And when we find them, we will let them go,” he vowed. “We are very attentive to this list and will process it carefully because we consider Russia to be a closest friend.”

    “About the peaceful citizens that were taken and that are now in Gaza, we treat them as guests,” Abu Marzook claimed further. He said of the Russian-Israelis, “We will free them as soon as there will be the conditions.”

    These statements are likely genuine, given the past several years Hamas has done much to repair and grow its relations with Moscow. Importantly for Hamas, Russia is is among very few superpowers which has not designated the group a terrorist organization. Hamas wants to keep Moscow happy, given Russia’s ability to also influence Gulf countries when it comes to a potential future “solution” to the Gaza crisis. 

    The Russia-Hamas talks have angered Western officials and pundits…

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

    Interestingly, Hamas has also lately tried to claim that Israeli civilians were taken as “a result of chaos”. Well over 1,000 Israelis were massacred in the Oct.7 raids, however. Estimates put the death toll at over 1,400 – including women and children. But Hamas’ Abu Marzook has acknowledged that “dozens of Western and regional officials came to us to demand the liberation of the detainees.”

    But again, the question of foreign nationals remains a sensitive subject within Israel, where PM Netanyahu and his top officials can’t being seen as favoring the foreign captives over Israelis.

    Tyler Durden
    Sat, 10/28/2023 – 18:05

  • EV Skeptic Toyota Chairman Says People Are 'Finally' Waking Up To Reality Of Electric Vehicles
    EV Skeptic Toyota Chairman Says People Are ‘Finally’ Waking Up To Reality Of Electric Vehicles

    Authored by Tom Ozimek via The Epoch Times (emphasis ours),

    Toyota’s chairman and former CEO, Akio Toyoda, told reporters at an auto show in Japan this week that waning demand for electric vehicles (EV) is a sign that people are waking up to the reality that EVs aren’t the silver bullet against the supposed ills of carbon emissions they’re often made out to be.

    People are finally seeing reality” about EV technology, Mr. Toyoda told reporters ahead of the Japan Mobility Show in Tokyo this week, speaking in his capacity as the head of the Japan Automobile Manufacturers Association, the organizer of the event.

    Toyota President Akio Toyoda gestures at a briefing on electric vehicle battery strategies at the company’s showroom in Tokyo, on Dec. 14, 2021. (Behrouz Mehri/AFP via Getty Images)

    Mr. Toyoda, a long-time skeptic of a full-steam-ahead adoption of EVs, stepped down from his role as CEO of Toyota this year amid criticism that he wasn’t serious enough about pushing the company into a quick adoption of battery-powered cars.

    Asked by reporters at the auto show on his thoughts about falling EV demand, Mr. Toyoda’s response implied that he feels vindicated in his reluctance.

    There are many ways to climb the mountain that is achieving carbon neutrality,” he said while suggesting that consumers are finally waking up from a dreamscape pushed by climate change alarmists that puts EVs on a pedestal and overhypes their benefits while downplaying their drawbacks.

    His remarks came as demand growth for EVs in various markets has slowed, leading some companies to dial back their electrification plans.

    Toyota Motor Corporation cars are seen at a briefing on the company’s strategies for battery EVs in Tokyo, on Dec. 14, 2021. (Kim Kyung-Hoon/Reuters)

    Waning Demand

    Market research firm Canalys estimates that global sales of EVs rose 49 percent in the first half of this year, down from last year’s 63 percent pace of growth.

    Honda and General Motors announced on Wednesday that they were scrapping a $5 billion plan to develop EVs together, while GM said on Tuesday that it was slowing its electrification strategy.

    GM is “moderating the acceleration of EV production to protect our pricing, adjust to slower near-term growth in demand and implement engineering changes that will bolster profits,” GM Chief Financial Officer Paul Jacobson said in an Oct. 24 earnings call with reporters in which he revealed that the weeks-long strike by unionized auto workers had already cost the company $800 million and counting.

    A general view of GMC Hummer EVs is pictured at General Motors’ Factory ZERO electric vehicle assembly plant in Detroit, Michigan, on Nov. 17, 2021. (Nic Antaya/Getty Images)

    Ford said earlier this month that it would temporarily cut one of three shifts at a plant that builds its electric F-150 Lightning pickup truck after slowing its EV ramp-up in July. remove

    EV demand next year could be lower than expectations,” Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution said on Wednesday, per Reuters.

    Transportation Secretary Pete Buttigieg, who has been helping the Biden administration push EVs onto reluctant drivers, recently acknowledged some their drawbacks, saying he’s had trouble finding reliable EV charging stations. His admission came as the federal agency he helms announced $100 million in funding for EV charging stations.

    ‘Automotive Seasoning’

    Mr. Toyoda’s remarks at the auto show that people are becoming more clear-eyed about the drawbacks of EVs stood in some contrast to an EV-boosting speech given by the current Toyota CEO and President, Koji Sato.

    Mr. Sato spoke at an Oct. 25 press briefing at the Japan Mobility Show, kicking off his presentation by hyping up EVs.

    “The first story is our future life with battery EVs,” he said, according to a transcript of his remarks. “They are not only eco-friendly. Electric cars also offer their own flavor of driving fun and automotive seasoning.”

    However, in order to execute on “our vision for battery EVs,” Mr. Sato said that Toyota would be “revisiting the fundamental principles of car making” in order to overcome the known drawbacks of EVs like limited driving range.

    He talked up an apparent benefit of EVs, namely lower center of gravity and a more spacious interior, calling it “value that only battery EVs can offer.”

    In these cars, the scenery looks completely different,” he said.

    But while lower center of gravity and more roomy interiors will likely be welcome by some drivers, unless automakers can figure out how to overcome “range anxiety,” they may find EV adoption will wane further.

    Range Anxiety

    A major worry among Americans considering the wisdom of switching to an EV is range anxiety, which is the fear of driving an EV and running out of power without being able to find a charging port—and ending up stranded on the side of the road.

    A recent study by the American Automobile Association (AAA) found that EV range can fall by up to a quarter when the vehicle is carrying heavy loads.

    “Range anxiety remains a top reason consumers are hesitant to switch from gasoline-powered vehicles to EVs,” Adrienne Woodland, spokesperson for AAA, said in a statement.

    Another recent study by consultancy Ernst & Young—in collaboration with European energy industry body Eurelectric—found that range anxiety is the second-most cited concern about switching to an EV, with a lack of public charging stations in the top spot.

    The study points to an estimated need for 68.9 million chargers across the United States and Canada by 2035 to support the pace of the EV transformation.

    President Joe Biden has set a goal of 50 percent of all new vehicles by 2030 being either EVs or plug-in hybrids.

    Tyler Durden
    Sat, 10/28/2023 – 17:30

  • Musk Prepares To Save Gaza's Internet With Starlink Deployment
    Musk Prepares To Save Gaza’s Internet With Starlink Deployment

    Over the past 24 hours, Israeli ground forces have escalated their attacks in Gaza, preparing for a potential large-scale ground operation aimed at the militant group Hamas.

    According to NetBlocks, a network analysis website, all internet and phone services in the region have been severed. Meanwhile, on the ‘free speech’ platform X, some users are urging Elon Musk to assist Gaza by providing Starlink terminals, mirroring his support in Ukraine. 

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

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

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

    On Friday, NetBlocks posted on X, “Live network data show a collapse in connectivity in the Gaza Strip with high impact to Paltel, amid reports of heavy bombardment; the company is the last remaining major operator to supply service as connectivity declines amid ongoing fighting with Israel.” 

    In response to the internet outage, Representative Alexandria Ocasio-Cortez (D-NY), affiliated with the Democratic Socialists of America, a party that has had many members chant antisemitic slogans and displaying pro-Hamas signs in protests, criticized Israel’s bombardments in Gaza. 

    Musk responded to AOC’s X post: 

    “Starlink will support connectivity to internationally recognized aid organizations in Gaza.” 

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

    Musk, the owner of X, Tesla, and SpaceX, has provided a digital lifeline for soldiers and civilians in Ukraine amid the war with Russia.

    Of course, there was pushback by pro-Israel twitterati, but Musk rapidly responded to clarify

    We are not so naive. 

    Per my post, no Starlink terminal has attempted to connect from Gaza. 

    If one does, we will take extraordinary measures to confirm that it is used *only* for purely humanitarian reasons.

    Moreover, we will do a security check with both the US and Israeli governments before turning on even a single terminal.

    Interestingly, despite some of AOC’s colleagues previously criticizing the billionaire based on a misleading report from his biographer regarding internet service disruptions in Ukraine, they now find themselves seeking his assistance. 

    Tyler Durden
    Sat, 10/28/2023 – 16:55

  • Our Neofeudal, Neocolonial World
    Our Neofeudal, Neocolonial World

    Authored by Charles Hugh Smith via OfTwoMinds blog,

    Once the chasm widens a bit more, the “efficient market” cover story bridge collapses into the abyss.

    In the conventional view, Neofeudalism and Neocolonialism are mad fantasies: the world is an efficient market of buyers and sellers guided by the invisible hand of self-interest, overseen by a fair referee, the State.

    This is of course exactly what those benefiting from Neofeudalism and Neocolonialism would say: since I’m doing great, everyone’s doing great.

    The view from inside Neofeudal, Neocolonial monopolies is more realistic. Inside the Big Tech monopolies, the leaders quite rightly compare their digital empire to that of the East India Company, which ruled most of India as a private corporation so powerful that it was in many way its own State, even as the duties on its massive commerce funded the British state and expanded the British Empire by other means.

    Two books offer insight into corporate colonialism and by extension, into corporate neocolonialism:

    The Anarchy: The Relentless Rise of the East India Company by William Dalrymple

    Empire, Incorporated: The Corporations That Built British Colonialism by Philip J. Stern

    In other words, private empires extend national empires which in turn empower private empires. The Big Tech corporations operate as Network States, a new iteration of the corporation-as-empire model. The Big Tech monopolies don’t need private armies like the East India Company maintained, or a merchant fleet; they operate in the digital world as global fiefdoms.

    Those beholden to these digital empires also have a more realistic view. For example, Anupam Mittal, founder and CEO of People Group, in reference to Google’s new billing system, called the company the “Digital East India Company” and its policies “neocolonialism at its worst.”

    The mad fantasy isn’t Neofeudalism / Neocolonialism, it’s the absurdly self-serving mirage of an efficient market of buyers and sellers blah-blah-blah, the cover story used by every apologist for monopoly since the late 1700s to cloak the harsh reality that markets are opportunities for monopolies and cartels and the profits and wealth generated are asymmetrically distributed not by some invisible hand but by the very visible hands on the levers of Neofeudalism / Neocolonialism.

    These hands don’t really care what currency you use to pay them; gold is fine, bitcoin is fine, gold-backed currencies are fine, it doesn’t matter what you use to pay, but pay you will.

    I’ve engaged in several illuminating discussions with well-read readers about the nature of feudalism. They’ve questioned my use of neofeudalism in ways that have helped clarify the meaning of the phrase in today’s world-structure.

    One key difference between feudalism proper and today’s corporate-state neofeudalism is the bond between the nobility and their serfs, and the role of the Church in mediating the bond. The long transition from the relationships of citizens and slaves to the centralized power of Rome in the imperial era to the feudal ties of serf to noble is explored in The Inheritance of Rome: Illuminating the Dark Ages 400-1000 by Chris Wickham.

    In effect, the system of centralized benefits, coercion and redress of the Western Roman Empire slowly devolved to a decentralized structure of weak monarchies and powerful localized nobles whose serfs were bound to them by legal and practical bonds.

    The Catholic Church acted as a centralized power that enforced laborers’ days off for religious services and festivities, and rewarded nobles’ gifts of land and wealth to the Church. The nobility had the power and the rights, but there were obligations to the serfs as well, the source of the term noblesse oblige, the obligations, both inferred and in practice, of the nobility to their serfs.

    In today’s neofeudalism, the corporate fiefdoms have offloaded all the obligations to States, while maintaining the mutually beneficial ties of State and Corporate Empire of the colonial model. The only obligation the corporate fiefdoms have is to their owners (shareholders) and secondarily, the obligation to grease the palms of their lackeys within the State: the elected and appointed officials who oversee the smooth functioning of the corporate-state bond that is the foundation of both Neofeudalism and Neocolonialism.

    The problem is the State cannot afford both the bread and circuses obligations to modern-day serfs and its obligations to corporate fiefdoms to keep the profits and wealth flowing to the owners. These asymmetries have reached such extremes that now both the social and economic orders are unraveling.

    As the unraveling accelerates, the apologists claims that it’s all an efficient market of buyers and seller ruled by self-interest is going to look increasingly detached from reality. This cover story can be understood as a bridge over a widening chasm. Once the chasm widens a bit more, the “efficient market” cover story bridge collapses into the abyss.

    *  *  *

    New podcast: Leafbox Interview: Charles Hugh Smith (73 minutes, full transcript)

    My new book is now available at a 10% discount ($8.95 ebook, $18 print): Self-Reliance in the 21st Century. Read the first chapter for free (PDF)

    Become a $1/month patron of my work via patreon.com.

    Subscribe to my Substack for free

    Tyler Durden
    Sat, 10/28/2023 – 16:30

  • House Weaponization Panel Gets IRS To End 'Abusive' Surprise Visits; Taibbi Thanks Jim Jordan
    House Weaponization Panel Gets IRS To End ‘Abusive’ Surprise Visits; Taibbi Thanks Jim Jordan

    House Republicans on the GOP’s “weaponization” subcommittee said in a Friday report that the IRS has agreed to end its “abusive” policy of surprise visits to taxpayers’ homes following pressure from the panel.

    “The Committee’s and Select Subcommittee’s oversight revealed, and led to the swift end of, the IRS’s weaponization of unannounced field visits to harass, intimidate, and target taxpayers,” reads the report. “Taxpayers can now rest assured the IRS will not come knocking without providing prior notice—something that should have been the IRS’s practice all along.”

    The IRS announced in July that it would end most unannounced agent visits to the homes of Americans, citing security concerns.

    But it also came after the agency engaged in what appeared to be witness intimidation, after visiting the New Jersey home of journalist Matt Taibbi on the same day he appeared before Congress to testify on government abuse.

    Following the incident, Chairman Jim Jordan (R-OH) demanded answers from the IRS, writing “In light of the hostile reaction to Mr. Taibbi’s reporting among left-wing activists, and the IRS’s history as a tool of government abuse, the IRS’s action could be interpreted as an attempt to intimidate a witness before Congress.

    Taibbi thanked Jordan on Saturday, writing in response to the report:

    One of the cases outlined is my own. My home was visited by the IRS while I was testifying before Jordan’s Committee about the Twitter Files on March 9th. Sincere thanks are due to Chairman Jordan, whose staff not only demanded and got answers in my case, but achieved a concrete policy change, as IRS Commissioner Daniel Werfel announced in July new procedures that would “end most” home visits.

    Anticipating criticism for expressing public thanks to a Republican congressman, I’d like to ask Democratic Party partisans: to which elected Democrat should I have appealed for help in this matter? The one who called me a “so-called journalist” on the House floor? The one who told me to take off my “tinfoil hat” and put greater trust in intelligence services? The ones in leadership who threatened me with jail time? I gave votes to the party for thirty years. Which elected Democrat would have performed basic constituent services in my case? Feel free to raise a hand.

    If silence is the answer, why should I ever vote for a Democrat again?Racket News

    Taibbi had opined earlier in the day on the disturbing IRS home visits, writing in Racket that: perhaps the most ‘unsettling revelations’ happened after his case – when on April 25, 2023 a woman was visited by an IRS agent using a fake name.

    On that date, a woman was visited at her home by a man identifying himself as “Bill Haus” from the IRS’s Criminal Division. He then “informed the taxpayer he was at her home to discuss issues concerning an estate for which the taxpayer was the fiduciary,” and after sharing “details about the estate that only the IRS would know,” the taxpayer “let him into her home.”

    The woman informed “Haus” that the estate issues had been resolved, and furnished documents to prove it. At this point, he informed her of his real purpose, claiming she was delinquent on several tax filings and provided “several documents to the taxpayer for her to complete.”

    Hesitating, the woman offered to put him on the phone with her accountant, but when he didn’t answer the phone, she contacted an attorney, who “repeatedly told Agent ‘Haus’ to leave the taxpayer’s home since the taxpayer had not received any prior notice from the IRS of any issue.” The agent reportedly replied that he was with the IRS and could go into anyone’s house at any time, and before leaving told the taxpayer she had “exactly one week to satisfy the remaining balance or he would freeze all her assets and put a lien on her house,” as the Committee report put it.

    Once “Haus” left, the taxpayer feared a scam and had the good sense to immediately contact the Marion, Ohio Police Department (MPD), upon whose reports this story ends up being based. (Emails published below.) The MPD ran the plate of “Bill Haus” and found it came back to a car owned by someone with a different name. The police contacted the car owner, who “attested that he was an IRS agent but admitted Bill Haus was not his real name; he was using an alias.”

    *  *  *

    Taibbi also notes that “Agent Haus” was pissed after his identity was discovered, and then filed a complaint with the Treasury Department’s Inspector General against the MPD for outing him. It was only after a senior MPD offer called the Inspector General (TIGTA) that they were able to confirm that Haus was an actual IRS agent.

    As Taibbi further considers:

    Pause here to consider the numerous problems already confirmed, to police, by the IRS:

    1. IRS agents make field visits using aliases;

    2. IRS agents make “pretext” visits, i.e. they announce they’re asking about one thing, when really by their own admission, they might be investigating something else;

    3. The IRS makes local, covert home visits without informing local authorities.

    Think of the problems that could arise from the last issue alone. According to the exchanges, the IRS isn’t required to inform local officials of investigative activity, but as noted by the TIGTA official in communications with the MPD, this is something they should do, to avoid mixups. Here for instance, even after a lengthy inquiry, local police were unsure “Agent Haus” really worked for the Treasury. Imagine if the taxpayer called police to come over during her visit, and think of the things could go wrong. It’s insanity that the Treasury would have investigators using aliases making Clockwork Orange-style “surprise visits” without informing local officials.

    Amazing.

    Tyler Durden
    Sat, 10/28/2023 – 16:00

  • Time To Think 'Quadrillions', As There's 'Zero Fiscal Restraint' In D.C.
    Time To Think ‘Quadrillions’, As There’s ‘Zero Fiscal Restraint’ In D.C.

    Submitted by QTR’s Fringe Finance

    This past week I had the pleasure of interviewing one of my favorite hedge fund managers, Lawrence Lepard.

    Last week I also released more than 30 pages from Larry outlining his take on the macroeconomy, gold, bitcoin and the state of the U.S. dollar. You can read Part 1 of his letter, which talks about the U.S. fiscal doom loop, here and Part 2 of his letter, which describes 7 reasons why the Fed must print trillions again, here.

    In our hour and a half discussion last week, we covered topics like the war in the Middle East, geopolitics, the treasury market, gold, bitcoin, a potential regional banking collapse, reasons the stock market could go up or down, and both fiscal and monetary policy.

    “Just as was with the Covid thing, [the wars in Ukraine and Israel] has been a convenient way for them to print a shitload of money,” Larry said about the conflict in the Middle East.

    “While you were speaking, I Googled the Reagan budget deficits. I remember starting out in business in ’83 and ’84, relatively early in my career,” he recalls:

    “People went crazy over how Reagan initiated deficit spending. In 1983, the federal budget deficit was $55 billion for the entire calendar year. This past year, as you’re aware, it was $2 trillion.”

    Larry says about our worsening financial picture in the U.S.:

    “By the way, you know, we’re gonna have to start thinking about what comes after, you know, a trillion. I mean, I think it’s a quadrillion. And, uh, because, you know, at the stage, at the rate that we’re going, it is becoming exponential. And that’s, of course, why I believe that this monetary system is doomed. It’s just— there’s— it’s absolutely doomed. I’m— I hate to say that, and I’m not trying to be a doomsayer or fearmonger. I just think it’s basic math.”

    “There appears to be zero fiscal restraint in Washington D.C. They are behaving as if there’s no consequences but the 10 year is saying ‘oh, there will be consequences, alright,’” he adds.

    Larry also talks about the bond market and treasuries. Talking about Bill Ackman covering his bond short, Larry said:

    “I think he, um, I think he sees that the bond is very overextended, and he’s playing for a bounce, assuming the economy is going to slow down. And I don’t disagree that that could happen. I mean, some of the very good technical analysts that I follow suggest that, you know, the bond— the long bond, which, you know, the interest rate almost got to 5%— in fact, it did briefly get over 5% on the ten-year, you know, that could drop back into the low fours for a little while before turning and then going much higher.”

    And ultimately Larry thinks treasury yields are going higher:

    “I think, over the longer term, interest rates are going much, much higher. And the reason I think that is, I think inflation is not subdued, and I think that people are going to lose confidence in these bonds and they’re not going to want to hold them. So, um, how long do you think that takes to play out? Uh, probably within the next six months to a year, I mean, I would expect that.”


    For those who are not yet subscribers, you can take 50% off for life by using the coupon: Get 50% off forever


    Larry believes that gold and bitcoin will be the safe havens for years to come:

    “As Luke Groman says, I mean, we’re starting to look like a third-world country, and that’s really the biggest development that’s taking place. And that’s where, and you can see it in sound money. I mean, you know, real interest rates have gone up 500 basis points in the last year, 18 months, and yet gold is still very close to its all-time high. And Bitcoin has done quite a nice job of recovering out of the hole that it dug after FTX blew up. So, um, I think people are starting to figure out that this issue.”

    “But the point is, as more and more people come to realize that they can never stop printing money, they can never stop debasing a currency,” he concludes.

    “The two obvious areas that are going to reflect this are the price of gold and the price of Bitcoin, because they’re the two sound money alternatives. So as those assets appreciate, more and more people are going to think, ‘Jesus, I’m the sucker here, right? I’m getting paid in money, and I know that it’s not going to hold its value.’ If they have any savings, they feel compelled to invest them into one of these two assets. As those assets go up, nobody is willing to save in Treasury bonds, and the cycle continues: rinse, wash, repeat.”

    Finally, Larry concludes, talking about distortions in markets from central planning:

    “We all know, and I think we all believe—even Keynesians would admit—that free markets provide the highest and best way of allocating goods and services and providing prosperity. You don’t do it with communism; you do it with free markets. By setting the rate, by having 12 policymakers and 400 PhDs at the Fed who set the interest rate, that’s not a free market. That’s the Politburo saying grain should be this price. And when they did that back in the ’60s and ’70s, they either had way too much grain or way too little grain. Right? Because the farmers figured out, well, it works or it doesn’t work. So letting a bunch of elected or appointed officials set the price of the most important good—the base-level good, which is money—in the economy is just a recipe for disaster.”

    Here is the full discussion:

    You can also find:

     

    QTR’s Disclaimer: 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 not been fact checked and are the opinions of their authors. 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. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

    Tyler Durden
    Sat, 10/28/2023 – 15:35

  • Pence Pulls Out Of Presidential Race As Trump's Lead Widens
    Pence Pulls Out Of Presidential Race As Trump’s Lead Widens

    Who could have seen that coming?

    Former Vice President Mike Pence announced today that he is suspending his 2024 campaign for the White House.

    “It’s become clear to me it’s not my time,” Pence said during a speech at the Republican Jewish Coalition Conference.

    “I’ve decided to suspend my campaign for president effective today.”

    “To the American people, I say: this is not my time, but it is still your time,” he added.

    He wasn’t exactly ‘killin it’.

    The Hill reports that filings show Pence raised $3.3 million during the third fundraising quarter, coupled with around $620,000 in debt. He ended September with just around $1.2 million in cash on hand.

    His poll numbers trended consistently lower from just 9.5% in July 2022 to 3.8% right before actually launched his bid in June 2023 (which saw a small pick-up in his poll numbers). But since the debates began it has been a return to the downtrend, leaving the race today at his personal low of just 3.5%…

    Source: Bloomberg

    Meanwhile, having decided to skip both debates, former President Trump continues to extend his lead in the polls with Ron DeSantis and Vivek Ramaswamy – his closest rivals – trending lower since the debates.

    Tyler Durden
    Sat, 10/28/2023 – 15:08

  • Abercrombie & Epstein? Ex-CEO Sued Over Gay Sex Trafficking, Abuse Allegations
    Abercrombie & Epstein? Ex-CEO Sued Over Gay Sex Trafficking, Abuse Allegations

    Abercrombie & Fitch is being sued along with its former CEO Mike Jeffries, who has been accused of running a giant sex-trafficking ring that exploited young men who wanted to become models for the brand.

    Court documents depict a horror story wherein Jeffries, the once-celebrated architect of the brand’s provocative image, is accused of masterminding the despicable sex trafficking operation. Under this scheme, young men, dazzled by the glamour of modeling stardom, were allegedly subjected to sexual abuse under the guise that it would land them coveted modeling contracts, CNBC reports.

    Earlier this month, a BBC investigation revealed systematic abuse, involving Jeffries’ partner Matthew Smith and associate James Jacobson, under the pretense of offering modeling gigs.

    James Jacobson said that everyone he came into contact with attended these events “with their eyes wide open”

    The BBC’s two-year investigation involving 12 witnesses reveals a systematic operation spanning from the 1990s through 2015, where Jeffries, aided by Smith and a conspicuous associate identified as James Jacobson, allegedly lured young men into an abusive quagmire. The promise of lucrative modeling contracts with A&F baited the trap, often leading to coercive sexual encounters at various luxury locations worldwide, from New York to Marrakesh.

    The narratives shared by these men, including David Bradberry, sketch a sinister picture. The operation, disguised behind the glamour of A&F’s brand allure, often began with meetings involving Jacobson. With his striking appearance marked by a snakeskin patch over a missing nose, Jacobson is accused of acting as the gatekeeper to A&F’s inner sanctum, demanding sexual favors as the price for entry.

    Accuser David Bradberry

    Systematic abuse

    Several told the BBC the middleman or other recruiters raised the possibility of modelling opportunities with A&F. All except one said they felt harmed by the experience.

    David Bradberry, then 23, said he was introduced in 2010 to Mr Jacobson by an agent who described him as the gatekeeper to “the owners” of A&F, but said there was no mention of sex. At their meeting, he said Mr Jacobson suggested Bruce Weber – then A&F’s official photographer – should take his picture.

    Then, Mr Bradberry said, “Jim made it clear to me that unless I let him perform oral sex on me, that I would not be meeting with Abercrombie & Fitch or Mike Jeffries.” -BBC

    Bradberry’s account, echoed by others, paints a scene of manipulation, where he was cornered into sexual acts under the pretense of career advancement. The exploitation extended to orchestrated events, where Jeffries and Smith would engage or direct participants in sexual acts. These gatherings, often swathed in the legitimacy offered by A&F branding and the presence of staff in company uniforms, created an environment where dissent seemed impossible.

    The largest event described to the BBC was hosted in a private villa at a five-star hotel in 2011, for which dozens of men were flown to Marrakesh. The BBC understands Mr Jeffries and Mr Smith had also invited friends. Alex – who asked for his name to be changed to protect his identity – said he was a struggling model supporting his family back home when he was recruited as a dancer for the event, where he expected he would have to strip.

    Mr Jeffries “took advantage of people in a very vulnerable point in their life, especially when they’re around these big cities, coming from small America,” Alex said. The former CEO was the “kingpin”, he said. “If it wasn’t for him none of this would have existed.”

    Alex, a straight man then in his 20s, said he was auditioned by Mr Jacobson, who praised his dancing but demanded he “finish the job” by performing oral sex on him. “I had debt, I wanted to support my family,” said Alex. “I performed the job and I was, like, disgusted.”

    Thinking “the hardest part was out of the way”, Alex flew to Marrakesh for the event a few weeks later. But moments into his dance, he said, Mr Jeffries tried to kiss him. “I was trying to be in it without offending him. I was extremely uncomfortable,” Alex said. -BBC

    It wasn’t just the attendees recounting tales of abuse. Former household staff disclosed regular weekend events at Jeffries’ properties, including his Hamptons home, which they were instructed to vacate, hinting at concealed ‘playtime’ activities. The entire setup, described as a “well-oiled machine,” included referrals, auditions, grooming rituals, non-disclosure agreements, and enveloped payments, pointing to an established, systematic exploitation process.

    Events were held at Mr Jeffries’ Hamptons home, La Mamounia in Morocco, Claridge’s in London and the Hotel du Cap-Eden-Roc in the south of France

    While Jeffries’ legal team remains silent in the media, A&F has publicly distanced itself from its former executive, expressing disgust at the allegations. The company underscores its commitment to an abuse-free, discrimination-intolerant ethos under its current leadership. Despite this, questions linger about the brand’s accountability, given the alleged abuses were masked by its corporate veil.

    The inquiry by the BBC, backed by corroborating accounts and documents, not only unmasks the purported sexual exploitation ring but also challenges the fashion industry’s systemic issues, where power can distort into a tool for abuse. With calls for a full legal investigation, this unfolding scandal reaffirms the need for transparency, accountability, and robust mechanisms to protect vulnerable individuals in all sectors, signaling a period of reckoning for corporate America and global industries alike.

    The company’s current executive leadership team and board of directors were not aware of the allegations of sexual misconduct by Mr. Jeffries,” the company told the BBC. “For close to a decade, a new executive leadership team and refreshed board of directors have successfully transformed our brands and culture into the values-driven organization we are today. We have zero tolerance for abuse, harassment or discrimination of any kind.”

    Tyler Durden
    Sat, 10/28/2023 – 14:35

  • Biden Chose Venezuela Over Canada For Oil
    Biden Chose Venezuela Over Canada For Oil

    Authored by Brian Lee Crowley via RealClear Wire,

    The United States needs more heavy oil for a whole series of reasons. President Joe Biden could have chosen to have that oil come from a close friend and ally, environmentally-conscious Canada, or from one of the world’s nastiest regimes, Nicolas Maduro’s Venezuela, which doesn’t give a toss about the environment. Which did he choose?

    Venezuela, of course.

    In exchange for modest concessions on electoral reform, the Biden administration just lifted sanctions on Venezuela, allowing them to export hundreds of thousands of barrels a day of vital heavy oil to the United States. The shale oil revolution has not and cannot change the fact that the US produces virtually no heavy oil, yet many of this country’s refineries, especially on the Gulf Coast, were set up to refine that kind of oil. Most of their heavy oil is from Canada, which is why that country is far and away the largest exporter of oil to America— more than twice as much as Saudi Arabia, Mexico, Russia, and Colombia combined. If America is now a net exporter of oil, it can thank Canada.

    The war in Ukraine caused unpopular price hikes at the gas pump. In response, the Biden administration has drawn down the Strategic Petroleum Reserve (SPR). That drawdown focused on medium and heavy crudes. OPEC responded with supply cuts aimed at throttling the supply of these strategically important crudes.

    The drawdown of the SPR is reaching its limits but the risk of higher gas prices in an election year is rising. To OPEC and Ukraine, we must now add the heightened risk of conflict spreading in the Middle East.

    In this context, recall that one of the very first acts President Biden took on reaching office was to cancel the permit for the Keystone XL (KXL) pipeline, a permit issued by his predecessor. Keystone XL was intended to provide 830,000 barrels a day of Canadian heavy crude to those Gulf Coast refineries. Pipe was already being laid.

    Had President Biden allowed KXL to proceed, the supply of heavy oil to the US industry would have been secure, risky drawdowns of the SPR unnecessary and America would have been much less vulnerable to global supply disruptions and OPEC’s manipulations. 

    Instead, the President colluded with a campaign to vilify oil from Alberta’s oilsands as “dirty oil.” Yes, producing Canada’s heavy oil emits greenhouse gases. But then all heavy oil is GHG intensive, and Venezuela is the highest emitting in the world. 

    The Canadian oil & gas sector has invested heavily and successfully in emissions reductions. The industry has a $75 billion plan to decarbonize and achieve net zero by 2050, focused on carbon capture and storage and small modular nuclear reactors.

    Venezuela has done nada in terms of real improvement in the environmental footprint of its heavy oil production. What it does have is a regime that is world-leading in terms of its human rights abuses and the damage it has inflicted on a once-prosperous economy. Every dollar America spends on Venezuelan oil will prop up one of the most violent and repressive regimes in the Americas, where Amnesty International says in 2022:

    The security forces responded with excessive force and other repressive measures to protests…to demand economic and social rights, including the right to water. Impunity for ongoing extrajudicial executions by the security forces persisted. Intelligence services and other security forces, with the acquiescence of the judicial system, continued to arbitrarily detain, torture, and otherwise ill-treat those perceived to be opponents of the government of Nicolás Maduro.

    A recent UN Fact Finding Mission to Venezuela talked about the “unremitting human rights crisis” and patterns of crimes against humanity in that country. Nearly 8 million Venezuelans are estimated to have fled the economic and humanitarian crisis there.

    Meanwhile, Canada, while not perfect, has robust human rights protections and high environmental standards. It is also a magnet for immigrants (including tens of thousands of Venezuelans), having one of the highest shares of its population born elsewhere in any country in the world.

    In 2021 President Biden was happy to offend one of America’s closest allies by blocking KXL because it was inconsistent “with my administration’s economic and climate imperatives.”  Three short years later, behind the fig leaf of Venezuelan electoral reform, he is welcoming much more environmentally damaging oil from one of Latin America’s most odious regimes, all to try and keep the price down at the pump. That’s a big win for Nicolás Maduro, but a bad deal for America and Canada.

    Brian Lee Crowley is the Managing Director of the Center for North American Prosperity and Security (www.cnaps.org).

    Tyler Durden
    Sat, 10/28/2023 – 14:00

  • Erdogan Vows To Get Israel Branded As "War Criminal" State, Also Blames West For Gaza "Massacre"
    Erdogan Vows To Get Israel Branded As “War Criminal” State, Also Blames West For Gaza “Massacre”

    Turkish President Recep Tayyip Erdogan raged against Israel in a speech given before a pro-Palestinian rally on Saturday in Istanbul. He said he is preparing to introduce Israel as a “war criminal” on a world stage, at a moment the debate over Gaza continues heating up at the United Nations. 

    Erdogan said: “Israel, we will also declare you as a war criminal to the world, we are preparing for it, and we will introduce Israel to the world as a war criminal,” according to a state broadcaster. Footage of the event shows that the turnout was huge, in the hundreds of thousands or possibly over 100,000 people gathered in the capital.

    Image via AP

    He stressed that the West is busy justifying the massacre of innocent people in Gaza, as the civilian death toll soars, saying “Israel is committing war crimes” as an “occupier.” He added: the “West owes you, but Türkiye does not owe you.”

    “Those shedding crocodile tears for civilians killed in the Ukraine-Russia war are silently watching the deaths of thousands of innocent children in Gaza,” he critiqued further, highlighting the double standard.

    “I am asking West, do you want to create another Crusader War atmosphere?” Erdogan questioned, before saying provocatively: “The main culprit behind the massacre unfolding in Gaza is the West.”

    “Of course, every country has the right to defend itself, but where is justice? There is no defense but an open, and vicious massacre going on in Gaza.” He went after Western elites and their ability to dress up everything they say in human rights rhetoric but which proves shallow: 

    Everyone knows that Israel is a pawn in the region that will be sacrificed when the time comes, he added.

    “I said in Davos, you know how to kill. They know well how to kill.”

    Erdogan continues, “We are saddened for every civilian in any way, but Israel does not care.”

    This week the Palestinian Ministry of Housing issued a grim figure, saying that 20,000 buildings and homes in Gaza have been destroyed over several days of intensified Israeli airstrikes. Turkish media has tallied that in total since Oct. 7, over 200,000 homes and buildings have been leveled

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

    Erdogan has earlier confirmed he canceled a planned trip to Israel where he was expected to meet with his Israeli counterpart PM Netanyahu. This was part of a normalization and restoration of ties effort, but are now definitely off. 

    From Tel Aviv’s perspective too, Erdogan’s ratcheting rhetoric in denouncing Israeli war crimes will likely been seen as unforgiveable, even after this current crisis is over. Turkey and Israel have long clashed over the Palestinian issue, and these tensions have now exploded back into full force. 

    Tyler Durden
    Sat, 10/28/2023 – 13:25

Digest powered by RSS Digest

Today’s News 28th October 2023

  • Pay No Attention To The Country Behind The Curtain
    Pay No Attention To The Country Behind The Curtain

    Authored by Julie Hartman via The Epoch Times,

    Last week saw a subtle but portentous development. China hosted a global gathering of over 140 countries—70 percent of the world’s nations—in Beijing to commemorate the 10th anniversary of China’s Belt and Road Initiative (BRI). Not on the guest list: the United States, most NATO member nations, and other American allies such as Israel, Japan, South Korea, and, of course, Taiwan.

    The world continues to focus on, and reel from, events in Israel and Gaza. Thus, many people will ignore or shrug at the news of this convocation. They see no connection between the Beijing meeting and the burgeoning Middle East disaster.

    They should reconsider. With the Chinese Communist Party (CCP), few things happen merely by coincidence. Beijing’s hosting of more than 140 invitees may be related, in timing and perhaps more, to the recent surprise assault on Israel. Many lament Israel’s “intelligence failure” but do not contemplate the more sinister explanation: an intelligence penetration. Are Mossad and Shin Bet somehow immune from harboring a Kim Philby, an Aldrich Ames, or a Robert Hanssen? The New York Times reported on Oct. 13 that Hamas had “extraordinary awareness of Israel’s secrets and weaknesses.” From whom?

    Many point the finger at Iran, which is using Hamas as its catspaw to bait its mortal enemy into warfare. But an event this momentous—one of the world’s most advanced and alert countries caught off-guard, suffering 1,400 fatalities, some multiple of that injured, approximately 155 hostages, and the prospect of an imminent bloodbath in Gaza—is unlikely to be a solo opus by a single Jew-hating country. Especially when we know who this Jew-hating country’s criminal associates are.

    It is possible that Iran, though fully culpable, is a willing participant in a wider, deeper scheme, perhaps conceived, but almost certainly known and approved elsewhere.

    As the Romans asked to identify responsibility for some unexplained event: Cui bono? Translation: Who benefits?

    The answer: China.

    Of course, manufacturing another disaster that the West must manage and respond to is optimal for China, and its agent Russia, especially as the CCP’s irredentist lust for Taiwan and Vladimir Putin’s stalemated war of attrition in Ukraine requires distracting their opponents. But the CCP’s ultimate objective in their likely hand in the Oct. 7 pogrom is to sow division and chaos between Western and non-Western countries, and within those individual national populations, to steer geopolitics toward hegemony by China. Since the 1990s, China, recruiting Russia and Iran as its accomplices, has undertaken a multi-pronged, multi-layered, multi-decade strategy to accomplish this, a central feature of which is to conceal that it is happening at all.

    First, China seeks to co-opt nations by “investing” in their infrastructure and institutions, from building railway lines in Bogota and Tehran to a university in Budapest (or, in the case of the United States, spreading around lucrative “business opportunities” to performing troupes of well-placed politicians). How ironic that almost all these countries had representatives in Beijing to celebrate their neo-colonization by the CCP under the BRI. Uhuru! Not so much.

    Like a lustful bachelor assaying and cultivating prospects, China also grooms a roster of mostly third-world, “non-aligned” countries that are Western-alternative-curious, countries possibly seeking an “arrangement” (with China as the benefactor) in addition to, or instead of, the one they have now with the United States and its allies. Beijing can be very persuasive in these flirtations. “America doesn’t appreciate you. You deserve better. The United States can’t give you what you want anymore,” the CCP softly whispers, promising danger and adventure, not stodgy, unsatisfying predictability.

    Last year, Xi Jinping launched the Global Security Initiative to apply “Chinese solutions and wisdom” to world politics and combat Western “unilateralism, bloc confrontation, and hegemonism.” In a visit with Mr. Putin last March, the Russian president said that China and Russia are driving “changes that haven’t happened in 100 years.” In July, Iran joined Russia and gained full membership in the Shanghai Cooperation Organization, a Chinese-founded political alliance group of non-Western countries. Also in July, President Ebrahim Raisi of Iran vowed to combat “Western hegemonic powers” by reshaping the international system to “remove” the dominance of the dollar. In August, Iran also joined BRICS—an economic, China-led and Russia-membered alliance of non-Western countries with the goal of combating Western spheres of power. BRICS members, which also now include Saudi Arabia, Egypt, and the United Arab Emirates, comprise over a third of the global GDP.

    China is also stepping into the role, occupied since 1945 by the United States, of broker and mediator of international conflicts and disputes. Earlier this year, China helped negotiate a rapprochement between sworn enemies Saudi Arabia and Iran, which China’s top diplomat Wang Yi lauded as China’s successful “casting off external influences” in the Middle East. So one wonders how the CCP may have reacted when, two weeks before Hamas’s attack, Israeli Prime Minister Benjamin Netanyahu, on a visit to Saudi Arabia, said that it was likely that Israel and Saudi Arabia would enter their own diplomatic agreement in the coming weeks, a development building on the Abraham Accords that Mr. Netanyahu predicted would “change the Middle East forever.” China does not want to see Saudi-Israeli relations become normalized and work together outside of its sphere.

    And now, with China’s economy sputtering as its population ages and declines, the next phase of the strategy of the CCP on its shrinking timetable of global hegemony may be diminishing and dividing its opponents—in particular, NATO, the bedrock institution to secure international order since 1945. China is keenly aware that a potent accelerant to fracture these nations’ populations would be graphic footage of a streamed-online-in-real-time war in Gaza, featuring house-to-house urban warfare on a scale not occurring since Stalingrad, as well as the resultant refugee catastrophe that will likely accompany and follow the war.

    Just 10 days after Israel was attacked, China has now convened more than 140 countries, pointedly not inviting the United States and its closest allies. Those in attendance were feted, flattered, bribed, seduced, and dazzled by a program showcasing China’s ascension and vitality and the West’s decline, division, and irrelevance—a dystopian 2023 World’s Fair portending a grim future of supine servitude, or worse, for those who do not fall into line, especially those not on the guest list.

    Cui bono, indeed.

    Tyler Durden
    Fri, 10/27/2023 – 23:40

  • New Image Reveals B-21 Raider Taxiing Ahead Of Maiden Flight
    New Image Reveals B-21 Raider Taxiing Ahead Of Maiden Flight

    A new image of the pre-production B-21 Raider stealth bomber taxiing at Air Force Plant 42 in Palmdale, California, was posted on Reddit on Wednesday. This is the first public image showing the next-generation stealth bomber’s rear as it continues moving closer to its maiden flight. 

    Defense blog The War Zone confirmed with a USAF spokesperson the photo on Reddit was the B-21 conducting taxi tests at Plant 42.

    “I can confirm the B-21 is conducting ground taxi activities. Rigorous testing is a critical step in the B-21 flight test program,” the spokesperson said, adding, “Extensive testing evaluates systems, components, and functionalities. This testing allows us to mitigate risks, optimize design, and enhance operational effectiveness.”

    Confirmation of the B-21′s taxi tests comes after the USAF revealed new images of the stealth bomber in Sept. 

    It was only the second time the service showed off the new bomber after an unveiling event in December 2022 (read: here) and early March (read: here). 

    The military blog said, “The Air Force’s goal now is for the Raider to take to the skies before the end of this year.” The service’s plan is to have B-21s operational by the mid-2020s—perfect timing since the risks of World War III are surging. 

    Tyler Durden
    Fri, 10/27/2023 – 23:20

  • Fungal Infection In The Brain Produces Effects Similar To Alzheimer's
    Fungal Infection In The Brain Produces Effects Similar To Alzheimer’s

    Authored by Emma Suttie via The Epoch Times (emphasis ours),

    A team of researchers at Baylor College of Medicine has discovered that when the brain is infected with a common fungus, it changes in ways similar to those seen in Alzheimer’s disease. The new research delves deeper into some of the molecular mechanisms behind that process.

    (Lightspring/Shutterstock)

    The Study Findings

    Using animal models, the research team discovered how the fungus, called Candida albicans (C. albicans), enters the brain, activates mechanisms for its clearance, and generates amyloid beta (Aβ)-like peptides—toxic protein fragments thought to be central to the development of Alzheimer’s disease.

    Previous research has implicated fungi in the development of chronic neurodegenerative diseases like Alzheimer’s disease, but their mechanisms are not entirely understood.

    A Microbial Cause of Alzheimer’s?

    A separate review published in the journal NeuroSci in 2022 explored the question of whether dementia has a microbial cause. The report concluded that the reviewed data suggests infectious agents, like fungi, can play a role in the process through which Alzheimer’s disease and other forms of dementia develop.

    Our lab has years of experience studying fungi, so we embarked on the study of the connection between C. albicans and Alzheimer’s disease in animal models,” said Dr. David Corry, one of the study’s authors and a professor of pathology and immunology and medicine at Baylor College in a news release on Oct. 17. “In 2019, we reported that C. albicans does get into the brain, where it produces changes that are very similar to what is seen in Alzheimer’s disease. The current study extends that work to understand the molecular mechanisms.”

    “Our first question was, how does C. albicans enter the brain? We found that C. albicans produces enzymes called secreted aspartic proteases (Saps) that breakdown the blood-brain barrier, giving the fungus access to the brain where it causes damage,” Yifan Wu, the study’s lead author and a postdoctoral scientist in pediatrics said in a press release.

    The researchers’ next goal was to determine how the brain was able to clear the fungal infection. Dr. Corry and his colleagues had done previous research that showed an infection in the brain by C. albicans can be completely healed in ten days in healthy mice. Those findings, published in Nature Communications in January 2019 found that the fungal infection was cleared due to two mechanisms that were triggered by the fungus in specific brain cells called microglia.

    Microglia are a type of glial cell located throughout the brain and spinal cord and represent approximately 10–15 percent of the cells found in the brain. Microglia act as a primary line of immune system defense and scavenge the central nervous system for pathogenic organisms, damaged neurons, and other foreign material so they can be destroyed through a process called phagocytosis.

    In the present study, the researchers demonstrated that Aβ-like peptides can be created by C. albicans. Candida albicans is a common fungus and has been found in the brains of people with Alzheimer’s disease as well as in those with other chronic neurodegenerative disorders.

    What is Candida Albicans

    Candida albicans is a common fungus (in the form of yeast) and is present in the gastrointestinal tract, the mouth, the skin, and the reproductive tract of most humans.

    Humans and C. albicans have a complicated relationship, as most of the time, C. albicans is harmless and is simply a member of a healthy microbiota. However, it is one of the few fungal species that cause disease in humans and is responsible for infections that range from superficial infections of the mucosa and skin, like thrush, diaper rash, and vaginal yeast infections, to more serious infections like invasive candidiasis that can affect the blood, heart, brain, and bones.

    Infections by C. albicans are particularly dangerous for those with compromised immune systems, like those with AIDS, or people undergoing immunosuppressive therapies for cancer and other conditions. This suppression of the body’s defenses is part of the reason why some people acquire C. albicans infections after taking antibiotics, as they decrease the beneficial bacteria in the gut, causing an imbalance and allowing C. albicans to thrive. C. Albicans can survive outside the body and have the ability to colonize every human organ and tissue. According to the Encyclopedia of Microbiology, it is the most common cause of systemic fungal infections.

    More Evidence Linking Fungi to Neurodegenerative Diseases

    In a January review published in Frontiers in Immunology, researchers examined the role of fungus in central nervous system autoimmune and neurodegenerative disorders. The review states that recently, increasing evidence has pointed to the role of peripheral fungus in triggering inflammation, immune response, and worsening of a range of non-infectious disorders of the central nervous system (CNS), including multiple sclerosis, Parkinson’s, and Alzheimer’s disease.

    The review concluded that fungus can trigger inflammation via different mechanisms in the progression of CNS non-infectious diseases, suggesting that it is crucial for developing future therapeutic agents and strategies.

    A 2015 study published in Scientific Reports states that several researchers have proposed the possibility that Alzheimer’s disease may have a microbial cause. The researchers found evidence that tissue from the central nervous system (which includes the brain and spinal cord) of patients with Alzheimer’s disease contains fungal cells. These fungal cells were found in different regions of the brain, including the external frontal cortex, cerebellar hemisphere, entorhinal cortex/hippocampus, and choroid plexus. These fungal materials were not present in the control individuals who did not have Alzheimer’s disease. The researchers identified several different species of fungus in their samples.

    Interestingly, the study authors noted that fungal infection was also found in the blood vessels, which could explain the vascular pathology that is often found in Alzheimer’s patients.

    The findings provide intriguing evidence that these fungal infections are present in the central nervous systems of those with Alzheimer’s disease and not in healthy individuals who served as the controls.

    Another Piece of the Puzzle

    Dr. Corry and his colleagues have provided another piece to further understand the role fungus may play in the development of Alzheimer’s disease.

    “This work potentially contributes an important new piece of the puzzle regarding the development of Alzheimer’s disease,” Corry said in a press release. “The current explanation for this condition is that it is mostly the result of the accumulation of toxic Aβ-like peptides in the brain that leads to neurodegeneration. The dominant thinking is that these peptides are produced endogenously [internally], our own brain proteases break down the amyloid precursor proteins generating the toxic Ab peptides.”

    However, in their study, the researchers show that these Aβ-like peptides can also be created from another source–candida albicans.

    “These findings in animal models support conducting further studies to evaluate the role of C. albicans in the development of Alzheimer’s disease in people, which can potentially lead to innovative therapeutic strategies.” Dr. Corry said.

    Tyler Durden
    Fri, 10/27/2023 – 23:00

  • Watch: Zennials Are Terrified Of Military Draft As War Looms
    Watch: Zennials Are Terrified Of Military Draft As War Looms

    The irony and hypocrisy is dripping across social media as zennials slowly begin to realize that the consequences of their support for establishment elitism might come back to bite them in the ass.  Keep in mind that this is the generation most inclined to vote for Joe Biden and his ilk, and the generation most inclined to rabidly support war against Russia in Ukraine.  These were the same people clamoring for hundreds of billions of dollars in American weapons and funding to be sent to Ukraine to prolong a losing war leading to the needless deaths of hundreds of thousands of Ukrainian draftees. 

    These were the exact same people that applauded the argument that sacrificing drafted Ukrainian troops in an ideological proxy conflict with Russia was “cheaper” and more efficient than sending American troops to fight.  Now, when they are faced with the possibility of being drafted into a different foreign quagmire, their blood thirst has suddenly abated.

    As we have seen in the past year in the Donbass, wars are won with soldiers, not technology and money.  Without a steady supply of troops any defensive or offensive posture will steadily degrade.  

    This month, Google searches for “Will I get drafted into war…” hit the highest number since the 2007 Iraq war surge; people are getting worried.  If the US is dragged into a multi-front conflict in the Middle East, then a new draft is almost assured.  Military recruitment numbers for the past several years have been dismal, with up to 77% of Gen Z not even meeting preliminary physical and mental qualifications as well as not being able to pass criminal background checks.  In some cases, the DoD has been forced to build pre-boot facilities called “fat camps” just to get recruits physically ready enough to survive normal boot camp. 

    This is setting aside the fact that the majority of modern youth are completely devoid of the mental toughness and discipline required for basic training.  As of 2022 it is estimated that over 42% of Gen Z has been diagnosed with at least one mental illness, but prospects are even dimmer that that.  It is also estimated that another 20% have not sought help for their mental health problems, with 62% of Gen Z taking medications to help with conditions such as “anxiety.”

    Zennials have taken to TikTok and other media sites to proclaim that they are not capable of fighting in a war and will avoid a draft at all costs.  Remember when zennials demanded more gay and trans representation in the military?  Well, now they’ve changed their minds – They are far too gay and weak to go into combat and want 2nd Amendment conservatives to fight instead…

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

    Fantasies of running off to the hills aside (these people would not last one week in the woods or one month in prison), there is an extreme disconnect between the demands Zennials made a couple years ago and the price they are willing to pay for those demands now.

    Remember when these same people threatened conservatives with severe punishment if they refused to comply with covid mandates?  Remember when they said the military could be used to crush conservatives should they fight back and that “AR-15s are useless against F16s?”  Apparently, the military is now incapable of functioning without conservatives and can’t engage in a war unless conservatives lead the way.  It has been said for years that woke people can’t fight, they get others to fight for them.  Now they admit it.  

    Interestingly, this is one area of political discourse where leftists and conservatives, Gen Z and “Boomers,” might actually agree:  Almost no one supports a new draft.  However, there are plenty of people that wouldn’t mind seeing zennials thrown into boot camp for a while just so they can learn a much needed lesson in humility, and perhaps rethink their political positions more clearly.

    Zennials say that the economy is “worse now than it has ever been” and paint themselves as the most suffering generation of all time (whatever happened to the miracle of Bidenomics?).  US education standards have dropped off the map, which is probably why they’ve never heard of the Great Depression or the stagflation crisis of the 1970s.  Conditions during these events were far worse than what we are experiencing today, though, things are likely to decline rapidly in the wake of WWIII.  Maybe one day soon their delusions of martyrdom will become a self fulfilling prophecy.

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

    And of course, as the manure hits the fan they will continue to blame “capitalism” instead of the socialist/globalist ideals they have been supporting for years.  The reason America as a country is no longer worth fighting for is exactly because of the anti-American policies many zennials argue in favor of.  Perhaps with the advent of a renewed draft the younger generations will come to realize the wisdom in treating the government with suspicion and vigilance instead of always blindly defending state authority in the assumption that it will only ever hurt their ideological enemies.

    Tyler Durden
    Fri, 10/27/2023 – 22:40

  • How Mike Johnson Became Speaker 'Through Prayer, Not Politics'
    How Mike Johnson Became Speaker ‘Through Prayer, Not Politics’

    Authored by Mark Tapscott via The Epoch Times (emphasis ours),

    Eyebrows were raised when newly elected Speaker of the House Mike Johnson (R-La.) in his first address from the chair reminded the assembled Democratic and Republican members of the House of Representatives that the God of the Bible raised up each one of them for a purpose.

    Newly elected Speaker of the House Mike Johnson (R-La.) takes his oath of office at the U.S. Capitol in Washington on Oct. 25, 2023. After a contentious nominating period, Mr. Johnson was voted in to succeed former Speaker Kevin McCarthy (R-Calif.), who was ousted on Oct. 4. (Chip Somodevilla/Getty Images)

    “I want to tell all my colleagues here what I told the Republicans in that room last night: I don’t believe there are any coincidences in a matter like this. I believe that scripture, the Bible, is very clear that God is the one that raises up those in authority. He raised up each of you. All of us. And I believe that God has allowed and ordained each and every one of us to be here at this specific moment,” the Louisiana Republican said.

    This is my belief. I believe that each one of us has a huge responsibility today to use the gifts God has given us to serve the extraordinary people of this great nation, and they deserve it.”

    Newly elected Speaker of the House Mike Johnson (R-La.) (C) walks out of the U.S. Capitol with Rep. Elise Stefanik (R-N.Y.) (L) and Rep. Pat Fallon (R-Texas) before delivering remarks, in Washington on Oct. 25, 2023. (Chip Somodevilla/Getty Images)

    Those who know Mr. Johnson, a devout conservative Southern Baptist, however, weren’t surprised by his allusion to verses in the Bible such as Daniel 2:21 that say the Creator raises up and deposes of political leaders: “He changes times and seasons; he removes kings and sets up kings; he gives wisdom to the wise and knowledge to those who have understanding.”

    A former Louisiana state representative who is now serving in his fourth term in Congress, Mr. Johnson, 51, and his wife, Kelly, have four children. Before his remarkable rise to the speakership, Mr. Johnson had served as chairman of the Republican Study Committee (RSC), which describes itself as “the intellectual arsenal of conservatism in the House.” In addition, he was elected in January 2021 to a second term as vice-chairman of the House Republican Conference and he was a deputy whip under then-Speaker Kevin McCarthy (R-Calif.).

    Prior to his political career, Mr. Johnson was the first member of his family to graduate from college, with a bachelor’s in business administration from Louisiana State University (LSU) in 1995 and a law degree from LSU’s Paul M. Herbert Law Center in 1998. He was elected president of the Christian Legal Society at LSU and subsequently became a successful constitutional law litigator.

    Following the speakership decision, Kelly Shackelford, president, CEO, and chief counsel for the Plano, Texas-based First Liberty Institute (FLI), said of his former FLI litigator, “Mike is a fantastic constitutional attorney and passionate advocate for religious liberty.” Mr. Johnson also spent time as senior counsel for the Alliance Defending Freedom, which—like FLI—is a public interest law firm devoted to defending First Amendment religious freedoms.

    Rep. Mike Johnson (R-La.) with his wife, Kelly, and their children. (mikejohnson.house.gov)

    The Man Is ‘Not Bashful’

    Asked by The Epoch Times if he was surprised by Mr. Johnson’s reference to God’s role in raising up political leaders, Family Research Council President Tony Perkins chuckled, saying: “Not at all, that’s Mike. He’s not bashful.”

    The Louisiana Republican’s campaign for the speakership was “through prayer, not politics,” Mr. Perkins said. He has known Mr. Johnson for 25 years as a student, a state legislative colleague, and pro-family, pro-life advocate.

    Something certainly seemed miraculous about Johnson’s sudden and unexpected emergence from the chaos and disruption that gripped the House Republican Conference in the wake of successive failures by Majority Leader Steve Scalise (R-La.), Whip Tom Emmer (R-Minn.), and House Judiciary Committee Chairman Jim Jordan (R-Ohio) to secure enough Republican votes to become Speaker.

    Mr. Johnson opposed the ouster of former Speaker Kevin McCarthy (R-Calif.), then lined up as a loyal supporter of Mr. Scalise, Mr. Jordan, and Mr. Emmer. He was mentioned in some news reports as a dark horse contender leading up to the Oct. 23 GOP Conference meeting that featured nine aspirants. Yet it was Rep. Byron Donalds (R-Fla.), going into that gathering, who seemed poised to move into a commanding position.

    However, it was Mr. Johnson’s sincerity, as well as his substantive and reasonable responses to the tough questions aimed at all of the contenders by House Republicans, that won them over, according to a knowledgeable congressional source who was present throughout the meeting.

    He consistently, and comparatively, when a lot of members were asking just an onslaught of questions—wonky, policy questions—gave substantive answers versus the other candidates, who essentially gave answers about their personality or their personal background outside of being legislators,” the source told The Epoch Times.

    “Johnson consistently came back to ‘This is my track record as a legislator; let me point you to my seven-point plan; let me point you to my proposed schedule if I become speaker,’ so that was really strong. And at the end of the day, Johnson really doesn’t have any enemies, and that’s in part due to his character and in part to his shorter time in Congress,” the source continued.

    The source further noted that “probably a third of his answers to the questions involved scripture references.”

    Rep. Mike Johnson (R-La.) speaks during a press conference after his election as House speaker, on the steps of the U.S. Capitol in Washington on Oct. 25, 2023. (Madalina Vasiliu/The Epoch Times)

    But Mr. Johnson is anything but the stereotypical Bible-thumping fundamentalist. When asked what was the key to Mr. Johnson’s win, another senior congressional source who asked not to be named described it in two words: “No enemies.”

    Mr. Perkins agreed: “He’s a brilliant guy, very smart, passionate. You saw classic Mike Johnson on the floor today. It’s principled, but he has relationships on both sides of the aisle that are not policy or politically driven. He cares about people. People have conversations with him, he prays with his colleagues.”

    In addition to his faith, Mr. Johnson is a classic Reagan conservative with a distinctly populist accent. On his official website is listed the congressman’s “Seven Core Principles of Conservatism,” which include individual freedom, limited government, the rule of law, peace through strength, fiscal responsibility, free markets, and human dignity.

    Rep. Mike Johnson (R-La.) with his wife, Kelly. (Office of Rep. Mike Johnson)

    Of that latter principle, Mr. Johnson explains: “Because all men are created equal and in the image of God, every human life has inestimable dignity and value, and every person should be measured only by the content of their character. A just government protects life, honors marriage and family as the primary institutions of a healthy society, and embraces the vital cultural influences of religion and morality.

    “Public policy should always encourage education and emphasize the virtue of hard work as a pathway out of-poverty, while public assistance programs should be reserved only for those who are truly in need. In America, everyone who plays by the rules should get a fair shot. By preserving these ideals, we will maintain the goodness of America that has been the secret to our greatness.”

    Read more here…

    Tyler Durden
    Fri, 10/27/2023 – 22:20

  • These Are The Most Popular Halloween Costumes In 2023
    These Are The Most Popular Halloween Costumes In 2023

    Wearing costumes on Halloween goes far beyond trick or treating. Adults, teachers, and even pets get dressed up for the season, showing off at work, parties, charity drives, and of course to join in with candy-collecting kids.

    But with different movies, television shows, albums, and other cultural touchstones changing year-to-year, the most popular Halloween costumes also get switched up regularly.

    With the help of Google Trends data through their Frightgeist series, Visual Capitalist’s Omri Wallach visualized the top 27 most searched Halloween costumes in the United States.

    What Are the Most Popular Halloween Costumes This Year?

    As with last year, the impact of popular movies, shows, and games is clearly visible in the top 27 most popular Halloween costumes in the U.S. in 2023:

    Rank (2023) Costume Name
    1 Barbie
    2 Princess
    3 Spider-Man
    4 Witch
    5 Fairy
    6 Wednesday Addams
    7 Dinosaur
    8 Cowboy
    9 Ninja
    10 Bunny
    11 Rabbit
    12 Pirate
    13 Princess Peach
    14 Clown
    15 Pumpkin
    16 Batman
    17 Mermaid
    18 Cheerleader
    19 Ghost
    20 Bear
    21 Vampire
    22 Taylor Swift
    23 Harley Quinn
    24 Doll
    25 1980s
    26 Cowgirl
    27 Toy Story

    Reigning supreme is toy-turned-movie icon Barbie, after the eponymous movie released this year. The summer blockbuster has so far topped the 2023 box office at $1.44 billion earned globally, and also was responsible for the most popular couple’s costume: Barbie and Ken.

    #3 Spider-Man and #13 Princess Peach also reflect on the cultural power of the box office and video games. Both were in popular movies this year—with the The Super Mario Bros. Movie earning $1.36 billion and Spider-Man: Across the Spider-Verse earning $690 million at the global box office—and both had major game releases in October for the Nintendo Switch and PlayStation 5.

    Netflix also saw cultural “success” in this year’s most popular Halloween costumes, with #6 Wednesday Addams coming from their Addams Family series Wednesday. Though the show released in November of 2022, it quickly became the most watched English-language show on the platform and a perfect fit for Halloween costume ideas.

    This year also had one celebrity make the top 25, Taylor Swift at #22. The singer-songwriter released two re-recorded albums following an ownership dispute with her former record label, and is currently in the midst of a record-breaking concert tour.

    Tyler Durden
    Fri, 10/27/2023 – 22:00

  • Just The Facts On 'Geofencing'
    Just The Facts On ‘Geofencing’

    Authored by Maggie MacFarland Phillips via RealClear Wire,

    As worshippers gathered at the Calvary Chapel in 2020, they were being watched from above.  

    Satellites were locking in on cell phones owned by members of the nondenominational Protestant church in San Jose, Calif. Their location eventually worked its way to a private company, which then sold the information to the government of Santa Clara County. This data, along with observations from enforcement officers on the ground, was used to levy heavy fines against the church for violating COVID-19 restrictions regarding public gatherings.     

    “Every Sunday,” Calvary’s assistant pastor, Carson Atherly, would later testify, the officers “would serve me a notice of violation during or after church service.”

    Calvary is suing the county for its use of location data, a controversial tool increasingly deployed by governments at all levels – notably in relation to the U.S. Capitol riot on Jan. 6, 2021. While enabling law enforcement to more easily identify potential offenders, the practice, called “geofencing,” has also emerged as a cutting-edge privacy issue, raising constitutional issues involving warrantless searches and, with Calvary Chapel, religious liberty.

    “We are in the space between the emergence of this technological practice and courts having ruled on its constitutionality,” said Alex Marthews, national chair for Restore the 4th, a nonprofit organization dedicated to the protection of the Fourth Amendment, which protects Americans’ rights against “unreasonable search and seizure.” 

    “Geofencing” often begins with an innocent click. Smartphone apps ask if they can access location to improve service. When users say they yes, they often don’t realize that the apps that help them drive, cook, or pray are likely reselling their information to far-flung for-profit entities. This and other information detailing people’s behaviors and preferences is valuable for businesses trying to target customers. The global location intelligence market was estimated at $16 billion last year, according to Grand View Research.

    While it is legal for private companies to broker this information, constitutional questions arise when government accesses data from a third party that it would be prohibited from collecting on its own. The lawsuit filed by Calvary Chapel argues that Santa Clara County carried out a warrantless surveillance of the church when it acquired information in 2020 on the church’s foot-traffic patterns for analysis by a research team from Stanford University. Court documents show the researchers acquired the information, which originated with Google Maps, from the location data company SafeGraph, which Calvary is also suing. 

    Geofencing allows users to build a fence around certain areas or points-of-interest such as Calvary Chapel or the area near the Capitol on Jan. 6 and see when people entered that space.

    It is becoming routine for law enforcement agencies to use warrants to require companies like Google to hand over location data that may be connected to criminal activity. Rep. Jim Jordan recently wrote a letter to Attorney General Merrick Garland saying, “The use of geofence warrants raises serious Constitutional concerns.” Privacy advocates and a bipartisan group of legislators say that acquisition of such information without a warrant presents a troubling and relatively new constitutional dilemma.

    Data brokers, including SafeGraph, insist that their information is anonymized. But it is precisely the lack of specificity that worries critics. “There’s no particular individual who the government is suspicious of,” Adam Schwartz of the Electronic Frontier Foundation, told RealClearInvestigations. “It’s a dragnet.”

    Moreover, there is no guarantee that the data collected through geofencing stays anonymous. “It is often very easy to take supposedly de-identified data and re-identify a person,” said Schwartz, “And it’s very, very easy to do that with location data.”

    At Calvary Chapel, for example, in-person surveillance conducted by the county, as well as numerous in-person depositions of Chapel members and employees during the previous legal contretemps between the county and the church that began in 2020, would have provided local officials with detailed knowledge of who was on the premises, and when.

    In any event, critics say, law enforcement’s use of geofencing – even when it is backed by a warrant – violates the Fourth Amendment.

    Geofencing proponents argue that it falls under the “administrative search” exception to the Fourth Amendment, which lets regulatory enforcement personnel conduct warrantless searches when the greater good is at issue (i.e., police sobriety checkpoints, airport TSA scans).

    In their complaint, Calvary Chapel attorneys assert that the county is arguing in effect “that, as long as they call it research, any level of government can target and spy on any individual or group at any time for any duration and, if they so choose, they can wield the collected data against said individuals or groups who oppose their orders.”

    Pushback is mounting against the sharing of location data. In a 2022 letter to Congress, numerous privacy and civil liberties groups petitioned for committee hearings on a bill called the Fourth Amendment is Not For Sale Act. The bill, which has a companion in the Senate introduced in 2021, would prohibit warrantless government purchases of cell phone location data from third party brokers. It passed unanimously through the House Judiciary Committee, 30-0, this past July, and awaits full review by the House.

    Tyler Durden
    Fri, 10/27/2023 – 21:40

  • US Food Insecurity Crisis Erupts: 17 Million Households Starving, Highest In 11 Years
    US Food Insecurity Crisis Erupts: 17 Million Households Starving, Highest In 11 Years

    President Biden called the latest jobs numbers as “Bidenomics in action.” The elderly president, who sometimes appears to exhibit strong signs of ‘cognitive fog,’ said he “continues to fight to build an economy from the middle out and bottom up.” But working-class Americans know better than to trust the statical magicians at the Bureau of Labor Statistics and, in a recent poll, do not trust the government’s rosy economic news.

    The distrust is warranted because not even the United States Department of Agriculture can pretend Bidenomics is working anymore. A new report from the agency shows household food insecurity in 2022 soared to levels not seen since Biden was vice president during the Obama administration. 

    USDA found that 87.2% of households were food secure last year. The remaining 12.8% (about 17 million households) were food insecure. This is the highest level of food insecurity in America since 2014. 

    “Food-insecure households (those with low and very low food security) had difficulty at some time during the year providing enough food for all their members because of a lack of resources,” USDA said. About 5.1% of households (or about 6.8 million) had the most severe level of food security last year. 

    USDA said household food insecurity is due to “a lack of money and other resources limits their ability to acquire adequate food.” 

    We suspect even though the USDA report is a survey from last year. The figures are likely higher in 2023 as persistent inflation crushes low to mid-tier households. Many folks have drained personal savings and racked up insurmountable credit card debt just to make ends meet, such as putting food on the table, paying for gasoline at the pump, and covering shelter costs, whether rent or mortgage expenses. 

    Numerous top Wall Street banks (Mike Wilson: The Consumer Is Falling Off A Cliff) have begun to warn about the consumer falling apart in the era of Bidenomics. The latest sign of trouble came last weekend, when we pointed out that subprime auto loan delinquencies erupted to the highest in decades. 

    Tyler Durden
    Fri, 10/27/2023 – 21:20

  • Victor Davis Hanson: Premodern Diversity Vs. Civilizational Unity
    Victor Davis Hanson: Premodern Diversity Vs. Civilizational Unity

    Authored by Victor Davis Hanson via American Greatness,

    Few Romans in the late decades of their 5th-century AD empire celebrated their newfound “diversity” of marauding Goths, Ostrogoths, Visigoths, Huns, and Vandals.

    These tribes en masse had crossed the unsecured Rhine and Danube borders to harvest Roman bounty without a care about what had created it.

    Their agendas were focused on destroying the civilization they overran rather than peacefully integrating into and perpetuating the Empire.

    Ironically, Rome’s prior greatness had been due to the extension of citizenship to diverse people throughout Europe, North Africa, and Asia.

    Millions had been assimilated, integrated, and intermarried and often superseded the original Italians of the early Roman Republic. Such fractious diversity had led to unity around the idea of Rome.

    New citizens learned to enjoy the advantages of habeas corpus, sophisticated roads, aqueducts, and public architecture, and the security offered by the legions.

    The unity of these diverse peoples fused into a single culture that empowered Rome. In contrast, the later disunity of hundreds of thousands of tribal people flooding into and dividing Rome doomed it.

    To meet the challenge of a multiracial society, the only viable pathway to a stable civilization of racially and ethnically different people is a single, shared culture.

    Some nations can find collective success as a single homogenous people like Japan or Switzerland.

    Or equally, but with more difficulty, nations can prosper with heterodox peoples—but only if united by a single, inclusive culture as the American melting-pot once attested.

    But a baleful third option—a multicultural society of diverse, unassimilated, and often rival tribes—historically is a prescription for collective suicide.

    We are beginning to see just that in America, as it sheds the melting pot, and adopts the salad bowl of unassimilated and warring tribes.

    The U.S. is now seeing a rise in violent racially and religiously motivated hate crimes.

    The border is nonexistent.

    Millions of unlawful immigrants mock their hosts by their brazen illegal entrance.

    They will receive little civic education to become Americans. But they will learn that unassimilated tribalism wins them influence and advantages.

    In contrast, America was once a rare historical example of a multiracial, but single-culture democracy that actually worked.

    Multigenerational Americans were often energized by keeping up with new hard-working immigrants determined to have a shot at success in a free society long denied them at home.

    Other large nations have tried such a democratic multiracial experiment—most notably Brazil and India. But both are still plagued by tribal feuding and serial violence.

    What once worked for America, but now is forgotten were a few precepts essential for a multiracial constitutional state wedded to generous immigration.

    One, America is enriched at its cultural periphery by the food, fashion, art, music, and literature of immigrants.

    But it would be destroyed if such diversity extended to its core. No one wants Middle-East norms regarding gays or emancipated women.

    No one prefers Mexican jurisprudence to our courts.

    No one here wants the dictatorship of Venezuela or the totalitarianism of communist China.

    Two, people vote with their feet to emigrate to America. They flee their native culture and government to enjoy their antitheses in America.

    But remember—no sane immigrant would flee Mexico, Gaza, or Zimbabwe only to wish to implant in their new homes the very culture and norms that drove them out from their old.

    If they did that to their new home, it would then become as unattractive to them as what they fled.

    Three, tribalism wrecks nations.

    Just compare what happened in Rwanda, the former Yugoslavia, or Iraq.

    Anytime one ethnic, racial, or religious group refuses to surrender its prime identity in exchange for a shared sense of self, other tribes for their own survival will do the same.

    All then rebrand their superficial appearance as essential not incidental to whom they are.

    And like nuclear proliferation that sees other nations go nuclear once a neighboring power gains the bomb, so too the tribalism of one group inevitably leads only to more tribalism of others. The result is endless Hobbesian strife.

    Four, immigration must be measured, so that newcomers can be manageably assimilated and integrated rather than left to form rival tribal cliques.

    Five, it must be legal.

    Otherwise, the idea of citizenship is reduced to mere residency, while the legal applicant is rendered a fool for his adherence to the law.

    Six, it must be meritocratic, so immigrants come with English and skills and do not burden their hosts.

    And last, it must be diverse. Only that way, can all groups abroad have equal access to the American dream.

    A diversity of immigrants also ensures that no one particular ethnic or political tribe seeks to use immigration to further divide the nation.

    In sum, the old immigration once enriched America, but our new version is destroying it.

    Tyler Durden
    Fri, 10/27/2023 – 21:00

  • The Graphite Grip: How China's Crackdown On Exports Threatens Global EV Battery Supply Chain
    The Graphite Grip: How China’s Crackdown On Exports Threatens Global EV Battery Supply Chain

    China’s retaliatory restriction on graphite exports will have a disproportionate impact on foreign makers of electric vehicle battery components which haven’t shifted to using as much synthetic material as Chinese manufacturers, according to Reuters, citing industry insiders.

    Graphite is an essential ingredient in EV battery anodes, a terminal inside a rechargeable cell.
    Photographer: Mikael Sjoberg/Bloomberg

    As we noted last week, the move by China – the world’s largest producer and supplier of graphite – was clear retaliation against the west for ratcheting up sanctions on chip exports.

    As of December 1, exporters of high-purity, high-hardness, and high-intensity synthetic graphite material, as well as exporters of natural flake graphite and its products, will have to apply for permits to ship those products out of China.

    Some Chinese manufacturers say they expect the rules to have a minimal impact, as most EV batteries they make use a grade of synthetic material which are unaffected by the curbs.

    China dominates the global EV battery supply chain including production of graphite – the single largest component. Graphite companies in the country process both the natural material mined domestically and overseas, as well as synthetic forms.

    Japan, South Korea and the United States are top buyers of both natural and synthetic Chinese graphite, and analysts warned the new measures could slow or reduce graphite supplies needed by companies there to produce anodes – the negative electrodes of EV batteries. -Reuters

    Companies like Qingdao Haida, a significant player in the graphite arena, are already foreseeing logistical challenges, awaiting directives from China’s Ministry of Commerce.

    China’s strategy isn’t unprecedented. The country has previously throttled international shipments by imposing export permits on critical elements like gallium and germanium, impacting global chip manufacturing. Sources insinuate a defense angle to the graphite restriction, given the material’s utility in military applications.

    Workers make lithium batteries for electric cars in China. Photo: AFP

    And while Chinese companies with international footprints are displaying minimal concern, foreign manufacturers have lagged in adopting synthetic graphite, largely due to its environmental footprint and cost considerations. This delay makes them susceptible to the recent Chinese constraints, threatening their operational stability.

    An employee at Qingdao Haida, a major Chinese graphite processor, who declined to be named as they was not authorised to speak on behalf of the company, told Reuters that the company’s products include spherical graphite, which is used in lithium ion battery anodes and is covered by the new rules and is exported to South Korea and Japan.

    We haven’t got any instructions from MOFCOM (China’s Ministry of Commerce) on how to apply for export permits but it will definitely make the exporting process more inconvenient,” the person said.

    Even as foreign firms like Volkswagen-backed battery maker Gotion High Tech and Ningbo Shanshan downplay the impact of the restrictions, given their product specifications and overseas manufacturing plans, the situation for global companies relying on natural graphite is in stark contrast. Companies like Hitachi Chemical and POSCO are potentially in the crosshairs, with key industry players scrambling to assess the full spectrum of implications.

    Interestingly, the unfolding scenario is prompting entities like Tesla supplier Syrah Resources and India’s Epsilon Advanced Materials to recalibrate their strategies, focusing on diversifying supply chains and emphasizing local production of synthetic graphite.

    Photo by Wan Shanchao / VCG via Getty Images

    According to EAM CEO Sunit Kapur, “We believe that limiting the amount of graphite exported from China – and likely the price increase for graphite that it will create – exacerbates the challenges (and) exemplifies the need to develop synthetic graphite for the U.S. locally.

    Tyler Durden
    Fri, 10/27/2023 – 20:40

  • FDA Should Recall 'Adulterated' Pfizer COVID-19 Vaccine: Robert Malone
    FDA Should Recall ‘Adulterated’ Pfizer COVID-19 Vaccine: Robert Malone

    Authored by Zachary Stieber via The Epoch Times (emphasis ours),

    Pfizer’s COVID-19 vaccine is adulterated due to the undisclosed presence of a DNA sequence, experts say.

    A health worker fills a syringe with a Pfizer-BioNTech COVID-19 vaccine in a file image. (Emmi Korhonen /Lehtikuva/AFP via Getty Images)

    That should prompt a recall by the U.S. Food and Drug Administration (FDA), according to Dr. Robert Malone, a vaccine expert whose work has been cited by Pfizer.

    It absolutely should be recalled,” Dr. Malone told The Epoch Times.

    “Will the FDA do its job?” he added later.

    Pfizer’s vaccine contains a Simian Virus 40 (SV40) DNA sequence, authorities in Canada confirmed to The Epoch Times. Authorities found the sequence after outside researchers, including Kevin McKernan, discovered the sequence in the shot.

    The whole SV40 virus can cause cancer, prompting its removal from polio vaccines in the past. While the primary genetic sequence of the virus associated with cancer is not in Pfizer’s vaccine, there is a portion of the sequence called a promoter-enhancer, which “can get things into the nucleus, so that is a concern,” David Wiseman, a former Johnson & Johnson scientist, told The Epoch Times.

    Due to the presence of the sequence, some experts say, the FDA should find the product adulterated, which is defined under federal law as having a “strength, quality, or purity differing from the official compendium.”

    Congress directed the FDA that if tests are run on a drug suspected of being adulterated and the drug fails to meet the standards in the compendium, and there is a health hazard, to direct the manufacturer to issue a recall, Dr. Malone noted in an essay.

    If the manufacturer then fails to issue a recall, “seizure should be considered,” the law states.

    The general policy is that if there’s adulteration and reasonable risk of toxicity, there must be immediate action,” Dr. Malone told The Epoch Times. “This is a core mandate to the FDA from Congress to prevent adulteration of drugs, medical devices, and food. And then the next question is, is that adulteration? Is it associated with a reasonable risk of toxicity in humans? And my opinion is, absolutely.”

    Other experts, such as Dr. Janci Lindsay, also say the sequence presence means the vaccine is adulterated.

    The FDA declined to comment.

    Pfizer has not responded to inquiries.

    Sen. Ron Johnson (R-Wis.), ranking member of the Senate Homeland Security and Governmental Affairs’ Permanent Subcommittee on Investigations, said that regulators must provide answers.

    “I have been researching and consulting experts on the issue of DNA contamination in COVID-19 vaccines since it was exposed,” Mr. Johnson told The Epoch Times via email. “The FDA must provide answers to the legitimate questions being raised.”

    If the FDA does not take action, state attorneys general could move to seize the vaccine due to the adulteration, Dr. Malone said.

    The Epoch Times asked several attorneys general if they are considering or would consider such a move, but they did not respond.

    ‘We Do Not Know What Was Disclosed’

    Health Canada said sponsors such as Pfizer are expected to identify biologically functional DNA sequences within a plasmid, such as the SV40 sequence, when submitting applications for clearance.

    Pfizer did provide the full DNA sequence of the plasmid but “did not specifically identify the SV40 sequence,” the health agency said.

    After Mr. McKernan and other scientists uncovered the sequence, Health Canada did “confirm the presence of the enhancer,” it added.

    It’s not clear whether the sequence was also not identified for the FDA by Pfizer.

    “We don’t know what was disclosed to the FDA prior to authorization. If it was disclosed, then its presence is not unexpected. If it was not disclosed, I think there is a case that this is adulteration,” Mr. Wiseman said.

    The rules under which the vaccine was initially given emergency use authorization (EUA) may provide a defense for the agency, though.

    “Could FDA argue that because of the EUA, or because they knew about it, or some other reason, no action is required on their part, and there is nothing to see here? They may try to argue that. But the totality is that this is completely wrong,” Mr. Wiseman said.

    Mr. McKernan in June, during an FDA meeting’s public comment, presented his findings and showed that Pfizer did not disclose the sequence to the European Medicines Agency (EMA). The FDA does not typically respond during the public comment portion of its meetings, or afterwards to what was presented.

    “The really crushing thing here is Pfizer never disclosed the SV40 information to the EMA. They gave them a plasmid map of what the plasmid consisted of, with all of the features labeled, with the exception of the SV40 site,” Mr. McKernan told EpochTV’s “American Thought Leaders.” “They did that because they know the SV40 region is a very controversial base in its history in the vaccine field.”

    New Paper

    In a preprint paper published this month, Mr. Wiseman, Mr. McKernan, and other researchers tested 27 vials of the Moderna and Pfizer COVID-19 vaccines and found the presence of the SV40 sequence in the Pfizer vials, not the Moderna ones.

    The testing, along with Health Canada’s statement, helps confirm the results of Mr. McKernan’s earlier testing, which identified the presence of the sequence.

    Dr. Phillip Buckhaults, a cancer genomics expert and a professor at the University of South Carolina, also found pieces of plasmid DNA in the vaccine. He told The Epoch Times that “no one knows if this DNA does anything clinically significant, but it is prudent to check vaccinated people for any evidence of genome modification.”

    Dr. Wafik El-Deiry, another cancer expert who serves as director of the Legorreta Cancer Center at Brown University, has said that the findings should spur more research into the impact of the vaccines on different parts of the body, including in the heart and brain.

    Matthew Horwood contributed to this report.

    Tyler Durden
    Fri, 10/27/2023 – 20:20

  • Migrant Hot-Potato: NYC Offers Illegals Plane Tickets To Anywhere But The Big Apple
    Migrant Hot-Potato: NYC Offers Illegals Plane Tickets To Anywhere But The Big Apple

    New York City Mayor Eric Adams has finally realized it: If you’re not actively playing the game of Illegal Immigrant Hot Potato, you’re on the losing end of it.

    For months, New York has been on the receiving end of the game, as the Republican governors of Texas and Florida aggressively bus migrants to New York and other big, blue cities. Now, with his city busting at the seams with hordes of varied Third Worlders, Adams has decided he’s all-in, and New York City is now aggressively offering migrants one-way plane tickets to anywhere else in the world but there.

    Migrants densely packed on the sidewalk of New York City’s Roosevelt Hotel, which is used as a reception center (via ABC News

    Given the leftist uproar and accusations of racism leveled at Governors Abbott and DeSantis, it’s amusing to watch the mayor’s office try to couch its aggressive migrant-export scheme in delicate terms. “With no sign of a decompression strategy in the near future, we have established a reticketing center for migrants,” said spokeswoman Kayla Mamelak. “Here, the city will redouble efforts to purchase tickets for migrants to help them take the next steps in their journeys.

    On Thursday, Adams reiterated his previous plea for the federal government to scatter migrants all across the United States — not just in Democrat-run “sanctuary cities” like his, but in small towns too: “When people come across the border, we have 108,000 cities and villages — we should spread them out across the entire country, and not just New York, Chicago, Chicago, Los Angeles and Houston.”

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

    While he continues to beg for financial and other help from the Biden administration, Adams has recognized that, against a daily cost of $394 per migrant, a one-way plane ticket to anywhere has a huge return on investment. And we don’t use “anywhere” lightly — Politico reports some have been given tickets to places like Morocco and Colombia. 

    If you were planning to see New York City at Christmastime, note that Adams and his team are now thinking of “distributing tents to newly arriving migrants and creating encampments in parks and other outdoor spaces,” the Wall Street Journal reported on Tuesday. That could include tourist destination Central Park, and Prospect Park too. “When you are out of room, that means you’re out of room,” Adams said Thursday. Some 130,000 migrants have arrived in the city this year, with another 4,000 now arriving weekly.

    Adams’ approach to the immigration crisis isn’t winning fans among the progressive left. “What we’ve witnessed from this administration — even if they’re not directly saying ‘you’ve got to get out of here’ — is that they’ve consistently created hysteria and chaos and confusion and have not used a tone of inclusivity and welcome,” New York city council member Shahana Hanif told Politico

    Tyler Durden
    Fri, 10/27/2023 – 20:00

  • Qatar Sentences Eight Indians To Death Over Israel Spy Charges
    Qatar Sentences Eight Indians To Death Over Israel Spy Charges

    Via Middle East Eye,

    Qatar sentenced eight former Indian naval officers to death after finding them guilty of spying on the Gulf state’s submarine program for Israel, according to a report by the Financial Times. India condemned the death sentences on Friday and said it will explore all legal avenues to reverse the verdict

    Last year, Doha detained the eight men who worked for a private company providing training to Qatar’s armed forces on espionage charges. Neither Qatar nor India have revealed what the men were found guilty of, but a person briefed on the case told the Financial Times the men had been charged with spying for Israel. 

    Hundreds of thousands of Indians form a major part of Qatar’s migrant worker force, via Reuters

    The Hindu newspaper also reported that Doha accused the men of “breaching sensitive secrets” after speaking to their families. Middle East Eye could not independently verify the claims. 

    A spokesperson for the Qatari government said it would not comment on claims the Indian men were handed a death sentence for espionage charges. 

    Death sentences in Qatar are rare, with the last execution in 2020 and the one before that in 2003, according to the source who spoke to the Financial Times. India confirmed that Qatari police had detained the eight men in August last year. 

    In a statement, India’s external affairs ministry said the men worked for a private company called Al-Dahra Global Technologies & Consultancy Services, and that it placed “high importance to this case and has been following it closely”.

    “The ministry will continue to extend all consular and legal assistance and will also take up the verdict with Qatari authorities,” the Indian statement said. Al-Dahra, a private firm, provides training and related services to Qatar’s armed forces. Sources told NDTV in India that the men were working on a high-sensitivity project that involved Italian midget submarines with stealth characteristics. 

    Last year, India’s Foreign Minister Subrahmanyam Jaishankar said the men were “ex-servicemen”, with families of the men also confirming to local media that they had also served in the Indian navy. 

    Qatar has no formal relations with Israel but has played a central role in international efforts to free hostages held by Hamas and to de-escalate the current situation in Gaza. 

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

    Earlier this week, Israel’s national security adviser, Tzachi Hanegbi, praised Qatar’s efforts to secure the release of hostages and said they were “crucial at this time” in a social media post. “I’m pleased to say that Qatar is becoming an essential party and stakeholder in the facilitation of humanitarian solutions. Qatar’s diplomatic efforts are crucial at this time,” Hanegbi posted on X.

    Qatar is home to hundreds of thousands of Indian workers who comprise much of the Gulf state’s migrant workforce. 

    Tyler Durden
    Fri, 10/27/2023 – 19:40

  • Gun Czar Kamala Harris Praises Australian Gun Confiscation
    Gun Czar Kamala Harris Praises Australian Gun Confiscation

    Newly appointed Gun Czar, Vice President Kamala Harris, made a statement at the State Department on Thursday during an event with Australian Prime Minister Anthony Albanese, addressing the mass shooting in Maine.

    Her comments were not unexpected, as she praised Australia’s gun confiscation program.

    “As we gather details, we must continue to speak the truth about the moment we are in,” Gun Czar Harris said.

    “In our country today, the leading cause of death of American children is gun violence. Gun violence has terrorized and traumatized so many of our communities in the United States.”

    She continued: “And let us be clear, it does not have to be this way — as our friends in Australia have demonstrated.” 

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

    Gun Czar Harris referred to Australia’s largest mandatory gun buyback program in the late 1990s. 

    A summary on the official website of the Australian Parliament states that, unlike in the US, there is no legal entitlement to gun ownership in Australia. And Australian law requires citizens to prove why they need a gun.  

    What’s clear is the US is not Australia.

    Attacking the Second Amendment while praising a foreign country’s gun confiscation program is an ominous sign. 

    Earlier this year, President Biden said he would ban so-called ‘assault weapons’ and high-capacity magazines “come hell or high water” (thus ensuring that criminals are the only ones who have them).

    The problem with the rogue Biden officials attacking the 2A is that it leaves law-abiding, tax-paying citizens defenseless. At the same time, Democrats at all levels of government push disastrous defunding police policies. 

    In Sept., Democrats in New Mexico tried to enforce an emergency order by the governor to temporarily suspend the right to carry firearms in public in and around Albuquerque while also calling for a special legislative session to address the matter. 

    The objective of the Democrats is to disarm law-abiding citizens. However, it’s widely understood that criminals are unlikely to surrender their firearms.

    Tyler Durden
    Fri, 10/27/2023 – 19:20

  • "There Is No Cure": Long-Forgotten Virus Could Return, US Is Not Prepared
    “There Is No Cure”: Long-Forgotten Virus Could Return, US Is Not Prepared

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    The mosquito-transmitted illness yellow fever, which caused havoc in the South during the 1800s, may see a resurgence in the United States, according to a new study.

    “Currently, the U.S. population is nearly entirely unvaccinated against yellow fever, and there are no vaccine doses in the U.S. Strategic National Stockpile,” wrote the authors of a recent paper in the New England Journal of Medicine.

    A CDC electron microscope image shows the yellow fever virus. (Erskin L. Palmer/CDC)

    They continued to say: “During a sizable epidemic, yellow fever could tear quickly through unimmunized populations across the American South, and it is unlikely that the U.S. government would be prepared to acquire and distribute vaccines in a timely manner, even if there were public demand.”

    The authors said that large populations in southeastern U.S. cities like Galveston, Texas; Houston, Texas; New Orleans, Louisiana; Mobile, Alabama; Tampa, Florida; and Corpus Christi, Texas, could lead to an epidemic of the virus, which is spread via the Aedes aegypti mosquito.

    During the 1800s, yellow fever caused highly lethal and economically devastating urban epidemics in southern U.S. coastal cities and those on the Mississippi River,” the authors stated. “It was sometimes known as ‘yellow jack,’ from the name of a nautical flag hoisted from ships arriving from the Caribbean that were quarantined because of suspected cases of the disease.”

    According to the U.S. Centers for Disease Control and Prevention (CDC), yellow fever has no cure and those who develop severe disease have a high chance of death. But the CDC stressed that it is a “very rare cause of illness” in the United States and is spread via Aedes aegypti mosquitoes, which officials say are found in parts of South America and Africa.

    The virus cannot be spread from person to person. One cannot transmit yellow fever through coughing, and it can only be spread via infected mosquitoes, according to officials.

    The Cleveland Clinic’s website says that a yellow fever-infected person can transmit the virus to a mosquito that bites them, and the mosquito can then transmit it to another person after it bites them. “If you’ve been diagnosed with yellow fever, continue to cover up. You don’t want a mosquito to bite you and then bite someone else,” the website says.

    However, there is no cure. Officials advise that anyone going to tropical areas should receive the yellow fever vaccine.

    “Occasionally, infected travelers have exported cases to countries that are free of yellow fever,” says the World Health Organization on its website. “However, the disease can only spread easily to a new country if there are mosquito species able to transmit it, specific climatic conditions, and the animal reservoir needed to maintain it.”

    Symptoms of the virus include fever, headache, muscle pain, body aches, vomiting, and nausea. Severe forms of the disease can lead to organ failure, hemorrhaging, and jaundice (the yellowing of the eyes and skin).

    Advertisement – Story continues below

    However, many people don’t experience symptoms at all, the WHO says, and most people who do develop symptoms see them disappear in three to four days. But it notes that a “small percentage” of yellow fever cases can enter a “more toxic phase” after 24 hours of recovering from the initial symptoms, with a high fever and multiple organs being impacted.

    “In this phase, people are likely to develop jaundice (yellowing of the skin and eyes, hence the name yellow fever), dark urine, and abdominal pain with vomiting. Bleeding can occur from the mouth, nose, eyes, or stomach. Half of these patients die within 7 [to] 10 days,” the WHO says

    The virus is also difficult to diagnose in its early stages, the U.N. organization says, because it appears similar to other illnesses.

    More severe cases can be confused with severe malaria, leptospirosis, viral hepatitis (especially fulminant forms), other hemorrhagic fevers, infection with other flaviviruses (such as dengue hemorrhagic fever) and poisoning,” the WHO website says. “Polymerase chain reaction (PCR) testing in blood and urine can sometimes detect the virus in early stages of the disease. In later stages, testing to identify antibodies is needed.”

    Each year, yellow fever is blamed for the deaths of about 30,000 people around the world, says the Cleveland Clinic’s website. Around 200,000 people annually are infected with the virus, it says. Most of the cases and deaths occur within Africa.

    Yellow fever outbreaks killed thousands of people per year in a number of U.S. cities between 1793 and 1905 AD, according to researchers. Thousands of people died in various outbreaks in northern cities such as Philadelphia, New York City, and Boston, it found. However, those outbreaks appeared to occur mainly in the southeastern U.S.

    Experts say that people can protect themselves against mosquitoes in the warmer months by wearing protective clothing and using insect repellent.

    “We believe yellow fever should be prioritized as part of our national pandemic-preparedness efforts, given that the conditions are now in place for yellow jack to return and sicken many people in southern U.S. cities,” the report authors recently wrote.

    Tyler Durden
    Fri, 10/27/2023 – 19:00

  • Broke Millennials Wait For Boomer Parents To Die For Next 'Great Wealth Transfer'
    Broke Millennials Wait For Boomer Parents To Die For Next ‘Great Wealth Transfer’

    Since 1980, US government debt has exploded, soaring from a modest 31% to a staggering 120% of GDP. Meanwhile, 10-year Treasury yields have plummeted from 15% to 4.8%. This resulted in a massive wealth transfer from the public to the private sector, enriching Baby Boomers in the process. 

    According to Bank of America Research strategists led by Ohsung Kwon, boomers were in their prime time during this wealth expansion over the last several decades and emerged as the primary beneficiaries. This generation, born between 1946-64, along with “Traditionalists” (or silent generation), hold a whopping two-thirds of total net worth, mostly in financial assets. Kwon said boomers have secured low-rate mortgages while millennials have been left out. 

    In contrast, millennials have been the largest generation to incur the most mortgage debt in the housing mania after 2021. These young folks sparked bidding wars nationwide while taking on new mortgage debt with homes at record-high prices. 

    Younger generations have ‘gotten the short end of the stick’ regarding homeownership. These kids will have to get used to a life of renting. 

    Soaring interest rates and elevated home prices have sparked the worst housing affordability in generations. With that, so goes the ‘American Dream’. 

    Interestingly, the analyst noted, “Boomers have yet, if ever, to feel the impact of higher rates, and many wealthy Boomers are actually benefiting,” adding, “Everyone locked in 3% mortgage rates, except Millennials.” 

    Internal spending data from the bank shows Boomers and Traditionalists continue to spend while younger generations (who are interest rate sensitive) dial back spending – perhaps due to a depletion of savings

    Spending data also shows millennials are the only group with exploding credit card delinquencies that have rocketed above pre-Covid levels. Seriously, guys, come on – you know the risks of a recession are mounting… 

    When it comes to big-ticket items, millennials are the biggest spenders, but boomers outpace other generations on health care and entertainment spending. 

    The financial health of the younger generation is very concerning. These folks need a bailout – but might not receive one from the government – instead, the ‘bank of mom & dad’ in the next great wealth transfer from old to young. 

    The analyst offers good news: the wealth transfer has already begun, “There also appears to be an increase in generational wealth transfer with parents helping their kids buy homes.”

    More in the full note available to pro subs.

    Tyler Durden
    Fri, 10/27/2023 – 18:40

  • The Inflation Reduction Act: A Bidenomics Loser In 2024
    The Inflation Reduction Act: A Bidenomics Loser In 2024

    Authored by Mark Merritt and Jon McHenry via American Greatness,

    If history’s any indicator, the Inflation Reduction Act (IRA) could haunt Democrats in 2024 like the Affordable Care Act did in the 2010 and 2014 elections.

    The most devastating line of those campaigns was: “My opponent voted for Obamacare, which cut $716 billion from Medicare.”

    new economic analysis reveals that the IRA has the same problem.

    It too was funded at Medicare’s expense.

    Until now this has been obscured by budget gimmicky. Former Congressional Budget Office Director Douglas Holtz-Eakins’ organization, the American Action Forum, uncovers what happened.

    In short, the IRA’s Medicare prescription drug reforms save the federal government $266 billion, but the savings are used to fund new climate spending, not reduce seniors’ pharmacy costs.

    The analysis concludes that, “the Medicare savings are simply another means of financing the IRA’s $670 billion in clean energy tax credits and other spending on energy and the environment.”

    While the law features some inexpensive new benefits, like a $2,000 cap on pharmacy out-of-pocket costs, these consume just a fraction of the savings from the prescription drug policies.

    If all the savings had been used to improve Medicare, it would mean $40,000 more for each of the program’s 65 million enrollees.  Instead, fewer than 10% of them will see any savings, usually less than $300. Just enough so the law’s backers can say it “reduces drug costs for seniors.”

    The big winners from IRA policies like letting Medicare “negotiate” drug prices will be millions of younger, white-collar professionals who’ll get $7,500 credits for electric vehicles (EVs). For each senior who saves a few dollars at the pharmacy counter, six EV buyers will save thousands at the dealership.

    This creates several problems next year for candidates who backed the law.

    First, cutting Medicare is ballot box poison.

     Eight-in-ten Americans – especially the voter-rich age group of 50-64 – fear for the program’s financial future.

    Democrats got hammered in 2010 and 2014 for voting to use Medicare funds to pay for Obamacare. In 2012, progressives returned the favor with the infamous “throw granny off a cliff” ad campaign attacking GOP Vice Presidential candidate Paul Ryan’s Medicare proposals.

    Second, candidates who backed the IRA have nowhere to hide in 2024.

    Senators who voted for it will be on the ballot with President Biden in key battleground states like Pennsylvania, Wisconsin, Nevada, Ohio and Arizona. When the issue is raised in one state, candidates in all the others will have to respond, too.

    Third, the law torpedoes the middle-class, “Bidenomics” message.

    It’s tough to talk about growing the economy “from the middle out and the bottom up” when transferring wealth from Medicare seniors to EV buyers, who typically earn $150,000 a year.  That’s twice the nation’s median household income.

    Finally, taking savings from Medicare to fight climate change will make no sense outside the bubbles of climate activism and academia.

    Most voters think rising sea levels pose far less of an “existential threat” than policies that put their health care at risk. Even those who are concerned about the environment see health care as a much higher priority. Furthermore, voters are notoriously stingy when asked to make real trade-offs for the cause.

    This summer, voters in Sonoma, California – one of our wealthiest, bluest counties — rejected a quarter-cent tax hike to reduce local reliance on fossil fuels.

    Imagine how a quarter-trillion-dollar Medicare cut will play next year in Erie and Kenosha.

    Tyler Durden
    Fri, 10/27/2023 – 18:20

  • Watch: Chinese Jet Comes Dangerously Within 10 Feet Of US B-52 Bomber
    Watch: Chinese Jet Comes Dangerously Within 10 Feet Of US B-52 Bomber

    There’s been another military close-call between US and Chinese aerial patrols in skies off China, with the Pentagon blasting the unsafe maneuvering of a Chinese fighter jet. 

    “The Chinese Shenyang J-11 rapidly approached the US B-52 bomber on Tuesday over the South China Sea and came within 10 feet of contact,” a Pentagon official said Thursday of the fresh incident. The Department of Defense subsequently released footage of the extremely close intercept. 

    B-52 , Getty Images

    The US statement said the Chinese J-11 harassed the B-52, flying at “uncontrolled excessive speed, flying below, in front of, and within 10 feet of the B-52, putting both aircraft in danger of a collision.”

    The U.S. Indo-Pacific Command went on to say “We are concerned this pilot was unaware of how close he came to causing a collision,” in a press release.

    It’s certainly not the first time this kind of close shadowing maneuver was used by Chinese PLA pilots as part of efforts to thwart what are typically US reconnaissance patrols. But it’s more rare that this would involve a B-52 bomber. No doubt its presence over regional waters made Chinese military leaders nervous.

    And a little over a week ago a very similar hostile encounter occurred involving a Canadian spy plane which was coordinating with US and Western efforts to monitor North Korea’s weapons program. That prior incident also saw a PLA fighter come within mere meters of the Canadian aircraft. 

    Watch footage of the very close intercept released by the Pentagon:

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

    But like with the other episodes, Beijing has a different reading, charging that this is but the result of Western aggression and hegemony which seeks to provoke incidents by sending military assets thousands of miles away near China’s waters.

    “The U.S. military planes traveled thousands of miles to China’s doorstep to flex muscle,” Foreign Ministry spokeswoman Mao Ning has said in response. She emphasized, “That is the source of maritime and air security risks, and is not conducive to regional peace and stability.”

    The US issued its usual counter, saying, “The U.S. will continue to fly, sail and operate — safely and responsibly — wherever international laws allow.”

    Tyler Durden
    Fri, 10/27/2023 – 18:00

  • Health Care Worker Crisis Looms As Burnout And Mental Health Issues Surge, CDC Warns
    Health Care Worker Crisis Looms As Burnout And Mental Health Issues Surge, CDC Warns

    Authored by George Citroner via The Epoch Times (emphasis ours),

    Health care workers are experiencing burnout, harassment, suicidal thoughts, and other mental health symptoms at alarming levels, a Vital Signs report by the U.S. Centers for Disease Control and Prevention (CDC) has found.

    (wavebreakmedia/Shutterstock)

    Experts warn this could lead to critical health care staffing shortages, threatening patient care at a time when an aging population needs it most.

    “It’s a looming crisis,” Dr. Timothy Sullivan, chair of psychiatry and behavioral sciences at Staten Island University Hospital in New York, told The Epoch Times, urging swift action before the problem becomes a full-blown emergency.

    “Everybody’s saying this is alarming, but what are we doing?” he said.

    Health Care Worker Injuries Surge Over 250 Percent

    The CDC analyzed data from the National Opinion Research Center’s General Social Survey, comparing mental health symptoms reported by 1,443 adult workers in 2018 and 1,952 in 2022. The respondents were grouped into three categories: health care workers, other essential workers, and all other workers.

    Health workers experienced a nearly 250 percent increase in work-related injury and illness rates between 2019 and 2020, according to the CDC team led by Dr. L. Casey Chosewood, director of the Office for Total Worker Health at the National Institute of Occupational Safety and Health (NIOSH).

    Many of our nation’s health care systems are at their breaking point,” Dr. Chosewood said at a press conference. “Staffing crises, lack of supportive leadership, long hours of work, excessive demands, and inflexibilities in our nation’s health systems all must be addressed.”

    COVID-19 intensified many health workers’ longstanding challenges, but it also “contributed to new and worsening concerns,” said Dr. Debra Houry, the CDC’s chief medical officer. These include compassion fatigue, depression, anxiety, substance use disorders, and suicidal thoughts.

    Harassment Fuels Health Care Worker Burnout

    The CDC survey found nearly 46 percent of health care workers reported frequent burnout in 2022, up from 32 percent in 2018.

    Harassment in the form of threats, bullying, verbal abuse, and hostile actions from patients or coworkers was a significant contributor, more than doubling since 2018, from 6.4 percent to 13.4 percent in 2022. Those reporting harassment were more likely to have anxiety, depression, and burnout, according to the report.

    About Half of Health Care Workers Look to Quit

    Intentions by health workers to change jobs also increased, with 44 percent in 2022 reporting they were likely or very likely to look for a new job in the next year. The turnover intention in 2018 for health workers was 33 percent.

    The share of workers in the other two survey groups who planned to seek a different job decreased.

    Who’s to Blame?

    Fundamental health care system issues, such as the way the system is organized, both at an institutional level and as a business, are at play, according to Dr. Sullivan. “It has become a very big business,” he noted.

    Reordering priorities is needed to invest in resources that make health care work “more livable” and expand access to care that lessens long-term burdens, he added.

    Rehaul Health Care to Cut Worker Burnout: Expert

    Seeing many die during the pandemic took a toll, but health care workers mainly needed “financial resources to help care for their families,” Dr. Sullivan said. This was particularly true for nurses and other frontline health care workers, he noted. They “needed time off from work and help paying bills, and so on.”

    Dr. Sullivan said that he had been directly involved in efforts to provide “psychological first aid” to assist providers with the traumatic aspects of health care work.

    But real solutions require rethinking how we’ve organized health care, he added. It’s not just raising salaries. More people doing the work to improve access and quality and lower worker stress are needed, according to Dr. Sullivan.

    Unfortunately, our health care system is heavily, heavily slanted towards richly reimbursing procedures that are high-cost, [and] highly profitable, even for nonprofit hospitals,” he said.

    Tyler Durden
    Fri, 10/27/2023 – 17:40

Digest powered by RSS Digest

Today’s News 27th October 2023

  • Antiviral Drug May Shorten COVID-19-Induced Loss Of Taste And Smell
    Antiviral Drug May Shorten COVID-19-Induced Loss Of Taste And Smell

    Authored by Mary Gillis via The Epoch Times (emphasis ours),

    New data suggest scientists have discovered a medication first designed to treat COVID-19 may also lessen the time it takes for two common symptoms of the disease: loss of taste and smell—to disappear.

    (Kateryna Kon/Shutterstock)

    The oral antiviral drug ensitrelvir (brand name Xocova) was granted a Fast Track designation by the U.S. Food and Drug Administration (FDA) to be investigated as a potential treatment for COVID-19 in April. Soon after, results from randomized clinical trials published in Clinical Infectious Diseases showed ensitrelvir was safe, effective, and successful in suppressing viral replication in patients with mild to moderate COVID-19.

    Ensitrelvir is now gaining traction as a potential solution to address COVID-19’s symptoms of loss of taste and smell—two sensory problems that can linger for up to years after the acute infection has subsided. The drug’s multipurpose use is based on the results of a study by researchers from the drug’s co-developer, pharmaceutical giant Shionogi Inc., a United States subsidiary of Shionogi & Co. Ltd. based in Osaka, Japan.

    Ensitrelvir Improves Taste and Smell Symptoms

    In a poster presentation, Shionogi presented data demonstrating that patients given ensitrelvir within three days of the onset of symptoms may have benefited from the medication by preventing or reducing the loss of taste and smell. Researchers also presented their analysis of the phase 2/3 clinical study results, showing a “significantly smaller proportion of patients had taste disorder or smell disorder on Day 7 when treated with 125 [milligrams] of ensitrelvir versus a placebo,” according to a news release.

    As an investigator who has evaluated both clinical data and real-world experience with ensitrelvir, I am optimistic about its potential to become an important tool in managing the unpredictability of COVID-19,” said Dr. Yohei Doi, a professor of medicine at Fujita Health University in Japan, said in the news release. “The new data … offer another reason to have confidence in this investigational agent and its potential to be a meaningful treatment option for patients.”

    The findings were presented in Boston at the October 2023 IDWeek meeting, an annual conference that brings together infectious disease specialists and epidemiologists from around the globe.

    Ensitrelvir remains an investigational drug, having received emergency approval in Japan in November 2022 to treat COVID-19. It has not been approved for use outside of Japan. However, Takeki Uehara, senior vice president of drug development and regulatory science at Shionogi, hopes this will change.

    “The data we are seeing in Japan are promising as we work to meet unmet medical needs of COVID-19 and make ensitrelvir available worldwide, pending regulatory approvals,” he said in the same news release.

    Loss of Taste and Smell in US Adults

    A 2023 paper published in Laryngoscope showed 35.8 million U.S. adults—or 14 percent of the population—were diagnosed with COVID-19 in 2021. Among those, an estimated 60.5 percent reported losing their sense of smell, while 58.2 percent reported loss of taste.

    Most patients (over 72 percent) completely recovered their sense of smell post-infection. However, about 1 in 4 people affected recovered only partially. Approximately 4 percent said their sense of smell had not yet returned.

    Taste function recovery was similar, with most (about 77 percent) regaining their sense of taste, while 1 in 5 reported partial recovery. Under 3 percent reported no recovery.

    “The majority of adults infected with COVID-19 in 2021 experienced olfactory or gustatory dysfunction with a non-negligible population reporting incomplete or no near-term sensory recovery,” the authors wrote in the 2023 paper. “Our results are useful for providers counseling patients and suggest that interventions lessening overall COVID-19 symptom burden may prevent prolonged sensory dysfunction.”

    Other Treatments

    COVID-related loss of smell can negatively affect people in several ways, including significantly altering a person’s overall quality of life and leading to poor nutrition. Mental health issues like depression, anxiety, and low self-esteem have also been linked to loss of taste and smell.

    Fortunately, smell recovery is possible through smell retraining therapy (SRT). The treatment involves repeated exposure to smells to elicit memories of familiar scents like flowers, fruits, spices, and essential oils.

    Ear, Nose, and Throat (ENT) Health, an organization powered by the American Academy of  Otolaryngology–Head and Neck Surgery, recommends patients sniff individual scents for at least 10 to 20 seconds once or twice a day. The four best scents are rose, lemon, cloves, and eucalyptus. Being entirely focused on the task is critical to stimulating memories of each smell. This should be followed by a few deep breaths before moving on to the next scent. Perform this exercise for at least three months.

    Regaining taste is also possible. Experts at the University of Texas MD Anderson Center recommend the following:

    • Introduce lemon into your diet because the tart flavor stimulates saliva and taste buds.
    • Integrate sweet, salty, spicy, and sour foods like pickles, olives, hot sauces, and a variety of salad dressings.
    • Play around with foods that provide texture, like apples, celery, or sticky peanut butter.
    • Alternate between hot and cold foods.

    Tyler Durden
    Thu, 10/26/2023 – 23:50

  • Doomsday Prepping Is Trendy All Of A Sudden
    Doomsday Prepping Is Trendy All Of A Sudden

    In the days before Covid, doomsday preppers were ridiculed and shunned as part of the fringe minority. Now, they’re being celebrated with their own spread in the The Wall Street Journal entitled: “Who Counts as a Disaster Prepper These Days? Lots of Us”.

    In the article, the Journal points out that there is a “renewed interest in self-reliance” in stocking for emergencies. The article asks whether it has to do with supply chain shortages and empty grocery shelves. 

    We can’t help but ask if it could be people want to front load items before additional 10% annual price hikes? Or if it could possibly have anything to do with the fact that we appear to be on the brink of World War 3? They don’t mention in so many words and we…well, we digress.

    What the article does note is that increasing sales of ready-made emergency kits and recent surveys suggest that Americans are now more inclined to maintain emergency provisions than they were in the past.

    The Journal writes that approximately 33% of the 2,179 U.S. adults polled by financial-services firm Finder in April reported spending an average of $149 over the last year on essentials like non-perishable food, medical supplies, and bottled water. This marks an increase from the roughly 20% who indicated doing so in 2020.

    One 39 year man told the Journal: “I’m a PlayStation 5, love-my-comfort guy” and swore he wasn’t a prepper. Yet he has 4 bags packed with “snacks, flashlights, water and coloring books for his two young sons” in case of emergency now hanging in his closet. 

    “It’s taking rational steps to ensure we have the ability to act quickly in those moments,” he added. He cited natural disasters mostly, but also the war in Ukraine as reasons for his prepping: “It’s less that we’re trying to survive the end of the world, and more that we have no idea when an earthquake or tornado is going to happen.” 

    “People are becoming more and more aware of the problems in the world and how fallible things are,” added John Ramey, founder of self-reliance training site The Prepared. “It’s a totally new market,” added Marlon Smith, who runs a $300 Urban and Outdoor Survival class.

    In New York City, Alexjandria Edwards, said she keeps a tent, sleeping bag and water-filtration system in her apartment. She admits it “feels silly” sometimes but wound up purchasing disaster packs off Amazon for about $100 each. 

    “It’s actually for a family of four, but I was like, ‘You know what? Better to be safe,’” she concluded. She has also been watching videos online about “homeopathic healing and learning to grow her own windowsill vegetable garden” because she worries about food availability.

    Good luck with that. You can read the Journal’s full report here

    Tyler Durden
    Thu, 10/26/2023 – 23:30

  • SBF Trial Should Spur Dark Money Legislation
    SBF Trial Should Spur Dark Money Legislation

    Authored by Greg Orman via RealClear Wire,

    Last week, in the trial of former crypto billionaire Sam Bankman-Fried, details emerged about how the nowdisgraced entrepreneur attempted to co-opt U.S. senators from both the Republican and Democratic parties.

    With $50 million in donations to secretive dark money vehicles linked to both party’s respective Senate leaders, Chuck Schumer and Mitch McConnell, Bankman-Fried presumably sought to influence future crypto regulations.

    Had the 31-year-old former “crypto king” not run afoul of the law, we might never have learned of the donations. The only reason the American people are aware of this influence-buying is because Bankman-Fried allegedly made the donations with stolen investor money. Had Bankman-Fried not been the head of a company engaging in criminal acts, the dark-money contributions to Schumer, McConnell, and other members of Congress would presumably have been legal and likely never come to light.

    While the crypto market is still just a fraction of the size of the global stock market, it has grown exponentially over the past decade. At current market prices, there’s roughly $2 trillion of crypto assets in circulation. That’s about the size of France’s annual GDP.

    The $50 million that Bankman-Fried spent to secretly buy influence was small in comparison to the size of the industry, but it likely would have given him outsized control over the writing of crypto regulations. Senators from both sides of the aisle would have been encouraged to take his calls and meet with his lobbyists. The Senate majority leader and ranking Republican might have made calls to various regulatory bodies to check up on proposed regulations or provide “feedback” to rules being considered.

    Drafts of potential legislation would have been shared with Bankman-Fried and his team before they were shared with the full Senate. Objectionable provisions would have been crossed out and replaced with more favorable terms. Rules that benefited Bankman-Fried’s company, FTX, at the expense of competitors, would have mysteriously made their way into the legislation.

    Journalists, unaware of Bankman-Fried’s philanthropy to Club McConnell and Club Schumer, would be producing feel-good stories about the way Congress came together to enact bipartisan legislation to protect the public from unscrupulous operators.

    Fortunately, none of that came to pass. But what does it say about our system that it could have happened and would have been considered perfectly legal? Without full disclosure of all campaign spending, reporters and, more importantly, the American people, would have no way of knowing the motivations of their elected leaders. And no politician could be held accountable for conflicts of interest.

    With all the talk over the past several months of the ethically challenged behavior of various Trump and Biden family members, the American people are clamoring for Congress to pass rules to fix our broken and corrupt political system.

    This isn’t a new issue. In a polling project first commissioned by Jimmy Carter’s pollster, the late Patrick Caddell, the problem of government ethics and corruption has been one of the top two voter concerns for more than a decade. The behavior of the first families of the Democratic and Republican parties has brought the issue into focus for even more Americans to see.

    In the polling done by Caddell, over 80% of Americans agreed with the statement, “Washington, DC is a rigged game that only benefits those people who can buy access to power.”

    Sam Bankman-Fried’s behavior only reinforces that belief. While the Supreme Court’s ruling in Citizens United v. Federal Election Commission confers the right of billionaires to spend millions buying influence through election spending, it doesn’t guarantee them the right to anonymity.

    Bankman-Fried’s trial is expected to last into the middle of next month. No doubt, more details of his political spending will emerge. Congress should use this backdrop to enact legislation requiring full disclosure of all political spending and end the era of special interest and megadonor dark money influence in America.

    Greg Orman is a Kansas entrepreneur, author of “A Declaration of Independents,” and a former independent candidate for governor and senator of his state. His website is www.greg-orman.com.

    Tyler Durden
    Thu, 10/26/2023 – 23:10

  • Gaetz Says Johnson Speakership Proves 'MAGA Is Ascendant' In GOP, 'Swamp Is On The Run'
    Gaetz Says Johnson Speakership Proves ‘MAGA Is Ascendant’ In GOP, ‘Swamp Is On The Run’

    Authored by Caden Pearson via The Epoch Times (emphasis ours),

    Rep. Matt Gaetz (R-Fla.) on Wednesday declared the election of Rep. Mike Johnson (R-La.) as House speaker a sign of the strength of the “MAGA movement” in the GOP and the waning power of the “swamp.”

    Rep. Matt Gaetz (R-Fla.) speaks with reporters in Washington on Oct. 16, 2023. (Madalina Vasiliu/The Epoch Times)

    After a three-week leadership void in the House, the GOP conference chose Mr. Johnson as their speaker nominee; he went on to win 220 votes in the first floor ballot on Wednesday.

    Mr. Gaetz, who led the motion to oust Rep. Kevin McCarthy (R-Calif.), the former speaker, touted Mr. Johnson’s victory as exemplary of the growing power of the “MAGA movement” on Capitol Hill.

    The swamp is on the run. MAGA is ascendant. If you don’t think that moving from Kevin McCarthy to MAGA Mike Johnson shows the ascendance of this movement and where the power in the Republican Party truly lies, then you’re not paying attention,” Mr. Gaetz declared during an interview on Steve Bannon’s “War Room” podcast on Wednesday.

    The Floridian congressman shed light on the internal party deliberations that led to Mr. Johnon’s election following the short-lived race of Rep. Tom Emmer (R-Minn.), who withdrew his name hours after receiving the GOP nomination on Tuesday.

    Mr. Johnson was runner-up to Mr. Emmer, who was the third speaker nominee after Reps. Steve Scalise (R-La.) and Jim Jordan (R-Ohio) failed to garner the needed support.

    Fellow lawmakers applaud as former Speaker of the House Kevin McCarthy (R-Calif.) casts his vote as the House of Representatives holds an election for a new Speaker of the House at the U.S. Capitol in Washington, on Oct. 25, 2023. (Alex Wong/Getty Images)

    Mr. Gaetz said that following Mr. Emmer’s withdrawal, Mr. McCarthy was the sole GOP member to object to a request by Rep. Marcus Molinaro (R-N.Y.), a freshman congressman, for unanimous consent to waive the rules and take a non-binding poll on whether Mr. Johnson “could be our speaker nominee.”

    Mr. McCarthy’s objection, in Mr. Gaetz’s view, was evidence that the former speaker “was worried that there was going to be this great, unifying moment” of rallying behind Mr. Johnson that would hurt Mr. McCarthy’s chances of being reelected, so “he scuttled the unifying moment.”

    Mr. McCarthy had not put his name in the ring to run again for the speakership.

    The Epoch Times contacted Mr. McCarthy’s office for comment.

    Gaetz Says He ‘Wasn’t the Force for Chaos’

    Mr. Gaetz said that Mr. McCarthy sought write-in votes, nominating himself. However, he received only 33, according to Mr. Gaetz.

    “So, they flame out terribly,” Mr. Gaetz said. “Mike Johnson’s gaining momentum. Ultimately, McCarthy gets 43 to vote for him on a secret ballot. But Mike Johnson gets a majority.

    Mr. Johnson then requested a roll-call vote, said Mr. Gaetz. “So that those 43 would have to announce themselves as being for a candidate who wasn’t even running, instead of a unifying force like Mike Johnson,” he added.

    And when we called for the roll call, do you know how many people voted for Kevin McCarthy? Zero,” said Mr. Gaetz.

    Mr. Gaetz accused the former Californian speaker of attempting to sabotage the chances of the last four speaker nominees, including Mr. Scalise, Mr. Jordan, Mr. Emmer, and Mr. Johnson, while maneuvering in the shadows to be reelected himself.

    “Everyone in the room knew at that moment that I wasn’t the force for chaos; I wasn’t causing disunity; that for the last three weeks, the reason the House of Representatives has been paralyzed is because, for his own selfish gain, Kevin McCarthy was sabotaging the candidacy of anyone else because he was plotting a return,” Mr. Gaetz charged.

    Newly elected U.S. Speaker of the House Mike Johnson (R-La.) takes his oath of office after the House of Representatives held an election in the U.S. Capitol in Washington, on Oct. 25, 2023. (Chip Somodevilla/Getty Images)

    Mr. Johnson received a prolonged standing ovation from fellow Republicans upon his nomination by Conference Chair Elise Stefanik (R-N.Y.).

    Mr. Gaetz hailed Mr. Johnson’s election to the speakership as a victory over “the swamp,” the term made popular by former President Donald Trump, the creator of the MAGA movement, which stands for Make American Great Again, his 2016 campaign slogan.

    They are crying, they are hand-wringing, they are bed-wetting over on K Street because we have an honorable, righteous man who is about to take this position. He’s going to do great things for the country,” Mr. Gaetz said, referring to “the swamp.”

    Mr. Gaetz, who has been “seat mates” with Mr. Johnson on the House Judiciary Committee for seven years, praised the newly-minted speaker.

    “He is sharp. He will be as respected in the homes of our most meaningful, righteous, and patriotic donors as he will [be] at the rallies with our most enthusiastic and meaningful activists,” Mr. Gaetz said.

    Mr. Johnson’s election was praised by the former speaker nominees, Mr. Emmer and Mr. Scalise.

    “I know Mike will keep our majority united as we continue to deliver on the commitments we’ve made to our constituents,” Mr. Emmer said.

    Mr. Scalise praised Mr. Johnson’s commitment “to things bigger than himself.”

    Mr. Johnson, 51, is an attorney and former radio host. He carried a Bible when he accepted the gavel on Wednesday.

    In his first speech as speaker, he said the House is “ready to get to work again” to solve the problems at home and abroad affecting Americans.

    “Our mission here is to serve you well, to restore the people’s faith in this House, in this great and essential institution,” he said.

    Tyler Durden
    Thu, 10/26/2023 – 22:30

  • US Warplanes Conduct Major Strikes On 'Iranian Proxies' In Syria
    US Warplanes Conduct Major Strikes On ‘Iranian Proxies’ In Syria

    Update(22:25ET): In the overnight and early morning hours in Syria (local time), US forces carried out airstrikes on what it said are Iran-linked militants and installations in eastern Syria. Multiple targets have been hit. 

    According to a statement by Secretary of Defense Lloyd Austin, “Today, at President Biden’s direction, U.S. military forces conducted self-defense strikes on two facilities in eastern Syria used by Iran’s Islamic Revolutionary Guard Corps (IRGC) and affiliated groups.” The attacks were reportedly done by US warplanes, likely operating out of either the Gulf or Mediterranean areas where new US naval assets have recently been positioned, keeping a watch on fast moving events in Gaza. Fox issued the following breaking detail

    F-16s and F-15s were used to strike targets in Syria earlier tonight in retaliation for the attacks on US troops in the region.

    Earlier in the day there were reports, though with few details, that US forces in the same northeast region of Syria came under attack, as has been happening in the last several days. The Pentagon had also earlier announced that over a dozen US troops in Iraq and Syria have suffered Traumatic Brain Injury (TBI) in the aftermath of drone and rocket attacks on US bases in the region. 

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

    Below is the full Pentagon statement, which seeks to emphasize that this new, high-risk military aggression is supposedly “separate” from the Israel-Gaza conflict…

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

    The United States is also seeking to reassure a region which is clearly at heightened risk for breaking out into major war that it “does not seek conflict”. But the long-running military occupation of Syria’s oil and gas region suggests otherwise

    * * *

    Update(1520ET): In the Pentagon’s latest move to bolster US defenses in the Middle East against the ‘Iran threat’ – given the increased instances of Tehran proxies attacking US troop installations in Iraq and Syria over the last week – some 900 more Americans soldiers will be dispatched to the region

    A CBS correspondent has cited Pentagon Press Secretary, Gen. Patrick Ryder, who says 900 US troops have deployed or in process of deploying to bolster missile defense in CENTCOM’s mideast region of operations. They are expected to man Patriot, THAAD and Avenger missile systems. Earlier this week US defense officials said these extra missile batteries are being deployed to the theatre ahead of an expected Israeli ground offensive in Gaza. 

    The CBS reporter noted “This comes as Iranian-backed groups continue to attack US miliary in Iraq and Syria.” Fears are growing that a major IDF push into the Gaza Strip would unleash broader retaliation strikes on US bases in the region. This could include Hezbollah, which operates both in Lebanon and Syria. 

    Israel’s “preparation” strikes for the “next stage of war” – according to its officials – have continued to grow in intensity…

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

    * * *

    Iran has become more vocal in its threats against Israel, in response to the soaring death toll in Gaza, which has surpassed 7,000 Gazans killed. Prime Minister Netanyahu has at the same time announced “thousands” of terrorists have been eliminated by the Israel Defense Forces (IDF). Israel has further said it took out three top Hamas commanders in the last several hours.

    On Thursday, Hossein Salami, the commander-in-chief of Iran’s elite Islamic Revolutionary Guard Corps (IRGC) warned that if Israel sends ground forces into the Strip, the IDF will be “buried”. He stated: “If the Zionists launch a ground attack in Gaza, they will be buried. If the enemies think that the Muslims will watch these crimes from the sidelines, they are gravely mistaken,” according to a translation in regional media. He also aimed the comments at Washington, saying “the US will be buried by the fire they lit.”

    Al Shifa hospital in Gaza City in Gaza City, say it’s fast running out of fuel for generators. EPA-EFE/Shutterstock

    “If the evil people of the world want to carry out a foolish act such as invading the Palestinian territories, they will face a miserable failure and receive a decisive response from the resistance front,” the IRGC statement added.

    The US has already parked one carrier strike group in waters off Israel, with another en route, and has been repeatedly warning Tehran not to get involved. National security spokesman John Kirby this week said the US administration stands ready to mount a “decisive response” if Iran or its proxies attack US bases.

    However, this appears to already be happening. There has been well over a dozen drone and missile attacks on bases in Iraq and Syria over the past week, with the latest happening Thursday.

    There are fresh reports that Iraqi Shia militia groups have launched cross-border attacks on a US installation in northeast Syria. These sporadic attacks now threaten to become a daily event. And now this from Politico on Thursday…

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

    Adding further to tensions between Washington and Tehran, fresh Wall Street Journal reporting this week has found that Hamas operatives behind the Oct.7 terrorist attack were given specialized training in Iran. According to the report, this involved up to 500 militants:

    In the weeks leading up to Hamas’s Oct. 7 attacks on Israel, hundreds of the Palestinian Islamist militant group’s fighters received specialized combat training in Iran, according to people familiar with intelligence related to the assault.

    Roughly 500 militants from Hamas and an allied group, Palestinian Islamic Jihad, participated in the exercises in September, which were led by officers of the Quds Force, the foreign-operations arm of Iran’s Islamic Revolutionary Guard Corps, the people said.

    Senior Palestinian officials and Iranian Brig. Gen. Esmail Qaani, the head of Quds Force, also attended, they said.

    But then strangely, the same report quotes US officials as saying they can’t verify whether the training on Iranian soil was directly in preparation for the Oct.7 attacks (or else possibly “routine”), which took the lives of at least 1,400 Israelis and foreigners. 

    “U.S. officials said Iran has regularly trained militants in Iran and elsewhere, but they have no indications of a mass training right before the attack,” WSJ writes. “U.S. officials and the people familiar with the intelligence said they had no information to suggest Iran conducted training specifically to prepare for the events of Oct. 7.”

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

    Given the fact that the terror assault involved paragliders, militants on motorcycles, coordinated assault teams with explosives, and other capabilities not used this effectively in the past – many analysts believe the planning for the attack had to have taken many months or even years.

    Tyler Durden
    Thu, 10/26/2023 – 22:25

  • Show Me The Money: Comer Demands White House Prove $200K Biden-Brother Loan
    Show Me The Money: Comer Demands White House Prove $200K Biden-Brother Loan

    House Oversight Committee Chairman James Comer on Thursday says his panel doesn’t have a money trail showing that President Biden ever loaned his brother James $200,000, after a suspicious payment took place the same day James received $600,000 in loans from rural hospital operator, Americore.

    The $200,000 check, written in 2018, was explained by the White House as the repayment of a loan – however Comer has his doubts, according to Just the News.

     “The White House has claimed Joe Biden loaned James Biden $200,000, and this check was repayment,” Comer wrote to White House counsel Edward Siskel. “Records obtained by the Committee do show numerous large incoming transactions into the personal account of James and Sara Biden from various entities. Some of these transaction records may have obscured the identity of the true payer, but no records in the Committee’s possession state that Joe Biden made a large loan payment to his brother.”

    If Joe Biden did personally loan James Biden an amount that was later repaid by the $200,000 check, please provide the loan documents, including the loan payment, loan agreement, and any other supporting loan documentation,” Comer continued.

    James Biden allegedly received $600,000 in loans from Americore after convincing the firm he could use the family name to “open doors” and secure a large investment from the Middle East, the Kentucky Republican claimed last week. Comer has since suggested that, even if the president did give his brother the money in the form of a loan, the transaction was nonetheless evidence of personal benefit from his family’s business activities. -Just the News

    “Whether it was a loan or not, James Biden’s March 1, 2018, check to Joe Biden aptly demonstrates one way he personally benefited from his family’s shady influence peddling of his name and their access to him,” Comer wrote to Siskel. “Even if the transaction in question was part of a loan agreement, we are troubled that Joe Biden’s ability to recoup funds depended on his brother’s cashing-in on the Biden brand.”

    See Comer’s letter below:

    Tyler Durden
    Thu, 10/26/2023 – 22:10

  • Intruder Arrested At RFK Jr.'s LA Home… Twice In Same Day
    Intruder Arrested At RFK Jr.’s LA Home… Twice In Same Day

    Authored by Rudy Blalock via The Epoch Times,

    An intruder was arrested on the morning of Oct. 25 at Independent presidential candidate Robert F. Kennedy Jr.’s Los Angeles property, after being detained by Mr. Kennedy’s security detail, according to police.

    A spokesperson for the Los Angeles Police Department (LAPD) told The Epoch Times officers responded to a burglary call around 9:30 a.m. Wednesday, and when they arrived, a blonde, white male wearing a green t-shirt was detained by security at Mr. Kennedy’s home in the Brentwood neighborhood.

    Authorities said the man, Jonathan Macht, 28, was taken into custody at a nearby police station where he was cited for trespassing and then released.

    Police said he then returned to the Kennedy’s home and was arrested a second time at 5:45 p.m. for violating a protective order.

    He is currently being held on $30,000 bail.

    According to a Thursday press release by Mr. Kennedy’s campaign, the presidential candidate was at home at the time of both arrests.

    “After being released from police custody, the man immediately returned to Kennedy’s residence,” states the release.

    According to the press release, the intruder entered the property by climbing a fence and is known to the U.S. Secret Service and Mr. Kennedy’s security Gavin de Becker and Associates (GDBA).

    “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,” states the release.

    In September, an armed man accused of posing as a federal marshal at an event attended by Mr. Kennedy was arrested and charged with misdemeanors, according to the Los Angeles City Attorney’s office.

    At the time of the arrest, Mr. Kennedy was scheduled to speak at the Wilshire Ebell Theatre, at 4401 W. 8th St. in Los Angeles, to celebrate National Hispanic Heritage Month. The event ran from 4 to 8 p.m on Sept. 15.

    According to the LAPD, a call was received reporting a male in front of the event venue with “a badge on [his] lapel, a gun, and a shoulder holster,” who “claimed to be a U.S. Marshal,” a spokesperson told The Epoch Times. The suspect, Adrian Paul Aispuro, 44, was initially booked on a felony gun charge, before later being charged with carrying a loaded firearm, carrying a concealed firearm, and impersonating an officer, all misdemeanors.

    Police said the suspect claimed to be employed for the event but wasn’t recognized by Mr. Kennedy’s security team.

    Requests for Protection

    According to Mr. Kennedy’s campaign, two requests for Secret Service protection as a presidential candidate have been denied by the Department of Homeland Security (DHS) in recent months.

    “Every presidential administration for 55 years has afforded early protection to candidates who requested it. The Biden administration is the sole outlier,” the campaign stated.

    This is the Kennedy campaign’s third formal request, according to the release.

    “Since the assassination of my father in 1968, candidates for president are provided Secret Service protection,” Mr. Kennedy wrote on X. “But not me.”

    According to U.S. law under “18 USC 3056A,” the U.S. Secret Service is tasked to provide protection to “major presidential and vice presidential candidates and, within 120 days of the general Presidential election, the spouses of such candidates.”

    The secretary of the DHS, currently Alejandro Mayorkas, is tasked with identifying “major” candidates in a presidential race in consultation with the speaker of the House, the House minority leader, the majority and minority leaders of the Senate, and one additional member selected by the other members of the committee, which as a whole isn’t answerable to the incumbent president.

    DHS has yet to comment on its decision.

    Mr. Kennedy called for the Biden administration to provide protection in early August, after one of Ecuador’s presidential candidates, Fernando Villavicencio—who vowed to fight corruption in the country—was assassinated.

    After Mr. Kennedy’s father was assassinated, the U.S. Secret Service expanded its protection coverage to presidential and vice presidential candidates, according to its website.

    Following the Sept. 15 incident, Mr. Kennedy wrote on X, “I’m still entertaining a hope that President Biden will allow me Secret Service protection.”

    Tyler Durden
    Thu, 10/26/2023 – 21:50

  • "These Kids Have Sh*t For Brains": Billionaire Leon Cooperman Slams Columbia Protesters, Halts Donations
    “These Kids Have Sh*t For Brains”: Billionaire Leon Cooperman Slams Columbia Protesters, Halts Donations

    Hedge fund Billionaire and Columbia alum Leon Cooperman says he’s pulling donations from his alma matter over its support of pro-Palestinian activists.

    In an interview with Fox Business, host Liz Claman said to Copperman:

    “You are a proud graduate of Columbia Business School, class of 67, son of Polish Jewish immigrants, first in your family to graduate from college,” asking “what do you make of what’s happening at Columbia and Harvard, Stanford, NYU as well?

    There was a student walkout at Columbia just a couple hours ago, driven by Columbia professor Joseph Massad, who called the Hamas attack ‘awesome.’ Where are we in the world when 1,300 Israeli civilians…”

    Cooperman interrupted her, exclaiming:

    I think these kids at the colleges have shit for brains.

    “We have one reliable ally in the Middle East,” Cooperman continued. “That’s Israel.”

    “We only have one democracy in the Middle East. That’s Israel, ok?”

    “And we have one economy tolerant of different people – gays, lesbians, etc. And that’s Israel. So, I have no idea what these young kids are doing.”

    Cooperman then said he’d pull donations.

    “Now, the real shame is I’ve given to Columbia, probably about $50 million over many years,” he continued.

    “And I’m going to suspend my giving. I’ll give my giving to other organizations.

    Watch the full discussion below:

    Get woke…

    Tyler Durden
    Thu, 10/26/2023 – 21:30

  • Anthony Fauci To Receive Prestigious 'Ethics Prize' For 'Saving Millions Of Lives'
    Anthony Fauci To Receive Prestigious ‘Ethics Prize’ For ‘Saving Millions Of Lives’

    Authored by Jordan Schachtel via The Dossier

    The Inamori International Center for Ethics and Excellence at Case Western Reserve University will award Dr. Anthony Fauci with its Inamori Ethics Prize, an annual honor given to international leaders “whose actions and influence have greatly improved the condition of humankind.”

    No, this is not a Babylon Bee article. This is really happening. Anthony Fauci, who is unparalleled as the most destructive government bureaucrat in American history, is being awarded with an ethics prize.

    Fauci, who presided over two White House administrations of catastrophic, draconian policymaking, which resulted in unparalleled levels of unnecessary human suffering, has “saved millions of lives,” a press release from Case Western said Wednesday.

    Fauci will be on campus Sept. 19, 2024 to deliver a “free public lecture” commemorating the honor, which comes with a monetary reward.

    Dr. Fauci has cared not only for the nation’s health, but also the health of the world,” Case Western Reserve President Eric W. Kaler said Wednesday. “As a scientist, research leader and public health advisor, his contributions to scientific discovery have truly improved lives. His leadership through one of the most challenging times in history—the COVID-19 pandemic—serves as a model for us all.”

    Case Western long required all students to take several doses of mRNA shots to be eligible to enroll in classes. The school also enforced a mask mandate for multiple years. They finally dropped the abusive mandates when the Fall semester began.

    Despite “retiring” at the end of last year, Fauci continues to receive millions of dollars worth of taxpayer funded benefits, such as a 24/7 chauffeur and a fully staffed U.S. Marshals security detail.

    He is now affiliated with Georgetown University, where he has been awarded multiple lucrative professorships, but does not teach any classes at the D.C. institution.

    *  *  *

    Meanwhile…

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

     

    Tyler Durden
    Thu, 10/26/2023 – 21:10

  • Stellantis Makes $1.6 Billion Investment In Chinese EV Startup Leapmotor
    Stellantis Makes $1.6 Billion Investment In Chinese EV Startup Leapmotor

    While almost all other auto manufacturers, especially those from Japan, are mulling exits from China (where domestic brands are starting to dominate the EV market), Stellantis is doing the opposite and investing in an EV startup. 

    The U.S. based auto manufacturer who makes Jeep and Dodge brands said it would be investing 1.5 billion euros ($1.58 billion) into Chinese EV startup Leapmotor, CNBC reported this week

    Stellantis CEO Carlos Tavares said on Thursday morning: “Through this strategic investment, we can address a white space in our business model and benefit from Leapmotor’s competitiveness both in China and abroad.”

    Analyst Abhik Mukherjee of Couterpoint Research told CNBC: “This deal presents clear synergies for both Stellantis and Leap Motor. Stellantis stands to benefit by strengthening its presence in the Chinese market, while Leap Motor gains an easier entry into the European market.”

    Stellantis is forming the Leapmotor International joint venture with a 51% majority stake to enhance the Chinese brand’s electric car sales globally.

    The investment also grants Stellantis about a 20% equity in Leapmotor and two board seats. Amid stiff competition from companies like BYD and Tesla in China’s leading EV market, traditional automakers like Stellantis, which holds a mere 0.3% market share in China, are accelerating their shift to electric vehicles.

    Recall we just wrote days ago about how Mitsubishi was exiting China and how other Japanese automakers were considering following suit. 

    According to research by MarkLines cited by Nikkei this week, Japanese car manufacturers such as Toyota, Honda, and Nissan are lagging in the Chinese market this year. In the first three quarters of 2023, the trio’s combined new vehicle sales were 1.29 million, a 26% year-on-year decrease. Both Toyota and Nissan experienced declines in the ballpark of 30%.

    The rise in China’s EV adoption and the dominance of local brands like BYD and Great Wall Motor are challenging Japanese automakers. Electric vehicle sales in China soared 80% to 5.36 million last year, capturing about 20% of the new car market.

    Japanese companies, traditionally strong in gas-fueled cars, are falling behind in the fast-paced EV sector led by Chinese firms.

    Facing challenges, Japanese automakers are reorganizing their Chinese operations. Mazda plans to cut its dealership network by about 10% from 2022 levels, while Toyota terminated contracts for roughly 1,000 workers at a joint venture. Honda and Nissan have reduced local production, with Nissan’s output reportedly at half its peak. Estimates suggest Toyota, Nissan, and Honda have a combined 40% excess capacity in China, based on current sales forecasts.

    Tyler Durden
    Thu, 10/26/2023 – 20:50

  • 65 Hospitals Closing Departments Or Ending Service
    65 Hospitals Closing Departments Or Ending Service

    By Andrew Cass of Becker’s Hospital Review

    A number of healthcare organizations have recently closed medical departments or ended services at facilities to shore up finances, focus on more in-demand services or address staffing shortages.

    Here are 65 department closures or services ending, announced, advanced or finalized that Becker’s has reported since Feb. 2:

    1. Albany, N.Y.-based St. Peter’s Health Partners delayed plans to shut down the maternity unit at Troy, N.Y.-based Samaritan Hospital by six months to address community members’ concerns about care access and transportation barriers. The system now aims to shutter the unit no later than June 30, 2024.

    2. Mayo Clinic on Dec. 12 will permanently close its clinic at Ridgeview (Minn.) Le Sueur Campus. Ridgeview had been leasing the space from Rochester, Minn.-based Mayo Clinic since 2018. After a non-renewable lease expired Aug. 31, both parties agreed to a Dec. 12 departure date. 

    3. Monroe County Hospital in Monroeville, Ala., will shutter its obstetrics unit due to a lack of staff. 

    4. Birmingham, Ala.-based Brookwood Baptist Health is closing obstetrics departments at hospitals in Birmingham and Shelby County. 

    5. Toledo, Ohio-based ProMedica plans to close two home health locations and significantly scale back operations at a third as part of its strategy to exit the home healthcare business. ProMedica informed affected employees that it will close home health facilities in Clyde, Ohio, and Dundee, Mich. Operations will be pared back at its Sylvania, Ohio, facility, which will only serve pediatric patients in “greatest need of home healthcare.” The changes are expected to take effect by Nov. 1.

     6. Six clinics run by shuttered Williamston, N.C.-based Martin General Hospital closed Oct. 5. 

    7. Nashville, Tenn.-based HCA Healthcare on Oct. 4 closed New Richey, Fla.-based HCA Florida Trinity West Hospital, which offered mental health services. The system consolidated those services to HCA Florida West Tampa Hospital and HCA Florida Largo West Hospital. The health system originally suspended services in August amid Hurricane Idalia. 

    8. West Reading, Pa.-based Tower Health closed five urgent care centers on Sept. 30 and sold eight others to Birmingham, Ala.-based American Family Care. 

    9. UMass Memorial Health closed the maternity unit at its Leominster, Mass., hospital at midnight Sept. 22 despite months of criticism and protests. UMass Memorial HealthAlliance-Clinton Hospital in May proposed a plan to close the unit. The unit has averaged 1.3 births per day through most of fiscal year 2023 and experienced staffing shortages, the hospital noted in its closure plan. 

    10. Dunn, N.C.-based Betsy Johnson Hospital, part of two-hospital system Harnett Health, ended labor and delivery services Oct. 15. 

    11. OhioHealth’s hospital in Van Wert, Ohio, ended inpatient maternity care on Sept. 30. 

    12. IU Health Blackford Hospital in Hartford City, Ind., ended inpatient and emergency department services Oct. 1. 

    13. Detroit-based DMC Sinai Grace Hospital closed its outpatient cancer clinic Oct. 1. 

    14. York (Maine) Hospital said it was closing its birthing center at the end of September. Hospital officials noted that the decision to do so is the result of a decline in births and a shortage of workers, Portland Press Herald reported Sept. 12.

    15. Inglewood, Calif.-based Centinela Hospital Medical Center is ending maternal child health services on Oct. 25 amid continued fallout over the death of a patient earlier this year. 

    16. UChicago Medicine AdventHealth GlenOaks hospital in Glendale Heights, Ill., plans to discontinue its obstetrics services because of low demand and community factors including the higher median age in Glendale Heights.

    17. Perry County Memorial Hospital in Tell City, Ind., will end labor and delivery services Jan. 1, 2024. Hospital officials cited low demand as the reason for the service line closure.

    18. Northfield (Minn.) Hospital will close its 40-bed, long-term care center in October due to staffing and financial challenges.

    19. Saranac Lake, N.Y.-based Adirondack Health closed its emergency department in Lake Placid, N.Y., Aug. 20 after receiving state approval. 

    20. The in-home care arm of Syracuse, N.Y.-based St. Joseph’s Health, part of Livonia, Mich.-based Trinity Health, is shut down October 23.

    21. The board of directors for Tri-City Medical Center in Oceanside, Calif., voted July 27 to indefinitely suspend labor and delivery services.

    22. Charlotte, N.C.-based StarMed Healthcare announced it was closing two satellite locations July 19. In the announcement, CEO Michael Estramonte also said the system laid off 15 employees, or 10 percent of the workforce, as the centers shift from primary and urgent care to primary care.

    23. Vicksburg, Miss.-based Merit Health River Region closed its behavioral health unit on June 30. 

    24. Wilkes-Barre (Pa.) General Hospital moved up the date it planned to end childbirth services by about three weeks, with the care ending abruptly July 11. 

    25. Good Samaritan Hospital, operated by Nashville, Tenn.-based HCA Healthcare, closed the inpatient psychiatric facility at its Mission Oaks Hospital in Los Gatos, Calif., on Aug. 20.

    26. Philadelphia-based Penn Medicine shut down one of its urgent care centers, Penn Urgent Care South Philadelphia, on June 30, as more patients are turning to telehealth for care.

    27. The Illinois Health Facilities and Services Review Board on June 27 unanimously approved a request from HSHS St. Mary’s Hospital to shutter four of its units. The Decatur, Ill.-based hospital will wrap up its advanced inpatient rehabilitation, obstetrics and newborn nursery, pediatrics and inpatient behavioral health services. 

    28. Catholic Health shared plans to eliminate several services at Mount St. Mary’s Hospital in Lewiston, N.Y., including surgery, dialysis, imaging, maternity and gastrointestinal care and some inpatient beds, Buffalo Business First reported June 13. 

    29. Jackson, Miss.-based St. Dominic Health Services is ending its behavioral health services unit, citing financial difficulties. The unit stopped taking admissions after June 6. 

    30. Fort Wayne, Ind.-based Lutheran Hospital is closing its heart transplant and inpatient burn units due to low patient volumes. The inpatient burn unit stopped accepting new patients June 2. 

    31. Vancouver, Wash.-based PeaceHealth closed its pediatric cardiology clinic, sleep clinic, optometry clinic and optical shop July 21. It also ended its comprehensive outpatient palliative care May 26 and reduced staff to one nurse and one social worker for in-home care.

    32. Milwaukee-based Froedtert Health closed the behavioral health unit at Froedtert Menomonee Falls (Wis.) May 12. 

    33. Welch (W.Va.) Community Hospital announced plans to close its long-term care unit. The closure of the 59-bed unit is part of the hospital’s transition to the West Virginia University Health System.  

    34. Peoria, Ill.-based OSF HealthCare is closing its labor and delivery services at OSF Heart of Mary Medical Center in Urbana, Ill. 

    35. Northern Maine Medical Center in Fort Kent closed its obstetrics unit May 26. The move comes as birth rates decline in the area along with staffing trouble. 

    36. Philadelphia-based Jefferson Health ended acute care, general surgery and emergency services at Einstein Medical Center Elkins Park (Pa.) and converted the facility solely into a physical rehabilitation provider. 

    37. CoxHealth closed the labor and delivery unit at Cox (Mo.) Monett Hospital, citing difficulties recruiting obstetricians and family practice physicians.

    38. Warsaw, N.Y.-based Wyoming County Community Health System ended its birthing services June 1 amid financial challenges and declining births in the area.

    39. Alta Vista Regional Hospital in Las Vegas, N.M., ended intensive care unit services June 3. The hospital said the change would allow it to focus on its highly utilized medical-surgical unit. 

    40. Springfield, Ore.-based McKenzie-Willamette Medical Center closed its maternity health practice July 7. The for-profit McKenzie-Willamette hospital said the 11-employee midwifery program was “unsustainable.”

    41. Renton, Wash.-based Providence ended labor and delivery at Petaluma (Calif.) Valley Hospital May 1 until further notice.

    42. Gardner, Mass.-based Heywood Hospital closed its pulmonary unit in mid-April due to financial reasons.

    43. Yale New Haven (Conn.) Hospitalceased use” of its emergency use annex April 11 amid discussions to extend its certificate of occupancy. 

    44. Chelsea (Mich.) Hospital closed its inpatient behavioral health unit and moved 12 of its beds to Trinity Health Ann Arbor.

    45. Danbury, Conn.-based Nuvance Health closed Thompson House, a 100-bed rehabilitation facility in Rhinebeck, N.Y., and laid off its 102 employees, effective April 12.

    46. Holly Springs, Miss.-based Alliance HealthCare System began transitioning to rural emergency hospital status March 31, meaning it will end all inpatient care services. 

    47. MercyOne North Iowa closed its hospice facility in Mason City April 17 amid industry pressures of inflation and high labor costs. 

    48. Brewer, Maine-based Northern Light Health is no longer providing cataract, glaucoma and oculoplastic surgeries at Eastern Maine Medical Center in Bangor. 

    49. Plymouth, Ind.-based St. Joseph Health System closed its New Beginnings Birthplace center because it has been unable to attract an obstetrician. It also closed its OB-GYN office March 31.

    50. Springfield, Mass.-based Baystate Health and medical services provider Shields Health closed their urgent care clinic locations in Feeding Hills, Longmeadow and Westfield, Mass., on March 31. 

    51. Palomar Medical Center Poway (Calif.), part of Escondido, Calif.-based Palomar Health, closed its labor and delivery unit, at least temporarily, in June. 

    52. A combination of a loss of pediatricians, changing demographics and some of the strictest abortion laws in the country forced Sandpoint, Idaho-based Bonner General Hospital to end obstetrics services. 

    53. Cabell Huntington (W.Va.) Hospital, part of Mountain Health Network, closed its CHH Surgery Center April 28 and is phasing out its home health services to better align its resources and reduce costs amid financial headwinds.

    54. The only hospital in Manitowoc, Wis., a city of nearly 35,000 — Froedtert Holy Family Memorial Hospitalstopped all obstetrics care June 1.

    55. Citing a lack of provider coverage, Ocean Springs, Miss.-based Singing River Health System said it would end obstetric services, which include labor and delivery, at Singing River Gulfport (Miss.), at least temporarily. The move became effective April 1. 

    56. Astria Toppenish (Wash.) Hospital is one of many rural hospitals closing labor and delivery care due to costs, creating maternity deserts in areas that need care most, The New York Times reported.

    57. Cleveland-based University Hospitals ended labor and delivery services at UH Lake West in Willoughby, Ohio, April 15. The hospital said services would be consolidated at TriPoint in Concord Township, which is about 15 miles away.

    58. Jefferson, Mo.-based Capital Region Medical Center closed two clinics in Holts Summit and St. Elizabeth, Mo., April 15. 

    59. Trinity Health Muskegon (Mich.) announced plans to temporarily close a 30-bed surgical floor due to staffing shortages. 

    60. St. Mark’s Medical Center in La Grange, Texas, cut nearly half its staff and various services as it looks to survive amid significant financial challenges. Service cuts include inpatient and surgical services, post-acute skilled rehab care, its orthopedic clinic, speech therapy and ambulatory care.

    61. OhioHealth’s Shelby Hospital stopped providing maternity services Feb. 28. Maternity services are provided 13 miles away at OhioHealth Mansfield Hospital.

    62. Arcata, Calif.-based Mad River Community Hospital cut 27 jobs as it suspends its home health services program. The program will be suspended upon the completion of services to the hospital’s existing patients, which was expected to be in April.

    63. Oroville (Calif.) Hospital closed Golden Valley Home Health, the hospital’s home health business. 

    64. Ascension Providence Hospital-Southfield (Mich.) ended midwifery services in February. 

    65. Rumford (Maine) Hospital closed its maternity program March 31 after 97 years in service.

    Tyler Durden
    Thu, 10/26/2023 – 20:30

  • Topgolf Bubble? Baltimore And Philadelphia Locations For Sale After A Year Of Operation
    Topgolf Bubble? Baltimore And Philadelphia Locations For Sale After A Year Of Operation

    Almost a year after its opening, a Topgolf location in downtown Baltimore City is on the market. Situated adjacent to the M&T Bank Stadium and in the heart of the crime-ridden metro area, the three-tiered sports entertainment complex has been listed for nearly $60 million this week. 

    According to the Baltimore Business Journal, South Carolina-based Matthews Real Estate Investment Services listed Topgolf Baltimore for $59.3 million, which includes a 20-year “absolute net lease with Topgolf.” 

    The seller is MD Baltimore Warner LLC, an entity with a mailing address in Greenville, South Carolina. The property is featured in an investor deck on land owned by Caves Valley Partners and Caesars Entertainment and situated down the street from M&T Bank Stadium. 

    “It’s confirmed for sale. Can’t comment any further,” Josh Ein, First Vice President of Matthews Real Estate Investment Services, told CBS News. 

    The timing of the sale is what piques our interest. The facility is not even a year old and is already on the chopping block.

    It’s possible that after nearly a year of demonstrating its revenue and expenses, the decision was made to cash out and move on, allowing someone else to assume the risk of operating the venue for two decades. 

    Or maybe it’s more complex, such as the geniuses who built the facility placed it in an imploding progressive-run metro area where Democrats in City Hall have refused to enforce common sense law and order. The facility is also situated blocks away from where the HBO hit The Wire was filmed two decades ago. 

    Perhaps an interest rate shock spiraling parts of commercial real estate into a bust cycle is the reason. Topgolf, in general, also might be just a fad and or bubble, as Topgolf Philadelphia (opened in the summer of 2022) was just recently listed for sale. 

    Meanwhile, Callaway Golf Company, which purchased Topgolf in 2021, has seen shares tumble 63% since the acquisition. 

    It’s still unclear why the Baltimore Topgolf is up for sale. What raises eyebrows further is the listing of the Philadelphia location. 

    Could Topgolf be facing challenges? Or, more broadly, has the popularity of golf reached its peak?

    Tyler Durden
    Thu, 10/26/2023 – 20:10

  • "The Face Of The Digital Censorship Movement": Matt Taibbi Calls Out Amy Klobuchar
    “The Face Of The Digital Censorship Movement”: Matt Taibbi Calls Out Amy Klobuchar

    Authored by Matt Taibbi via Racket News,

    If you read this morning’s Racket article about Senator Amy Klobuchar’s letter to Jeff Bezos asking for “proactive measures” to suppress sites like Substack or Rumble, you probably gathered I’m in a mood.

    I’ve had it.

    Whether it’s NewsGuard slapping “anti-US” labels on Joe Lauria and Consortium News, or Drs. Jay Bhattacharya, Aaron Kheriaty, and Martin Kulldorff censored on multiple platforms for being right on Covid, or podcaster Alison Morrow fired from a state job for interviewing Kheriaty, or friend CJ Hopkins in Germany criminally convicted for a book cover, or the FBI asking Twitter to remove Aaron Mate for the Ukrainian Secret Police, or ballooning budget requests of “counter-disinformation” enforcement agencies, or the new jailing even of Owen Shroyer for having “helped create January 6th” with speech, or of course the forever-detention of Julian Assange, and above all the total indifference of legacy media to all of it, it’s over. I’ve lost patience. Time for a more focused approach.

    A problem when grappling with the censorship hydra is that it has no public face, no Tipper Gore or Jerry Falwell to personify the topic. Klobuchar, for reasons listed this morning and beyond, is right for this role. She needs to be Red Pencil Amy, Blacklist Amy, Amy “Thought Police” Klobuchar. And longshot or not, removal of her from office in next year’s election or even from Senate leadership positions is a worthwhile goal. The rest of Washington needs to read public sentiment about this issue through a colleague’s public relations dilemma.

    I’ve already got a lot on my plate, but I’ll make Klobuchar a personal branding project, even if it takes time. I’ll write up any move she makes in this direction, or not in this direction. Her lesser-known partner in the bid to make Amazon a “verified sources only” zone, congressman Joseph Morelle of the Rochester, New York area, can be thrown in. Think of Morelle as the VP half of the censorship movement’s ticket. It’s nothing personal. At earlier times this person could have been anyone from Rick Stengel to Adam Schiff (especially him) or Mark Warner. Klobuchar and Morelle just picked the wrong time in my personal downward spiral to pull this stunt.

    T-shirting, postering, meming ideas very welcome.

    Incidentally, I’m still planning town halls on the speech subject, and in fact have one confirmed at my old college in the third week of November. (Details to come). Willing to do more if anyone can help on the venue side. Although perhaps these events would be best held in Minnesota now.

    For readers who might be concerned I’m losing my mind, you’re not wrong. What can I say? Even my dog flashes worried looks at me these days. But I was pushed. Pushed I say! And so were many, many others. A la bataille!

    Tyler Durden
    Thu, 10/26/2023 – 19:50

  • Deep Partisan Divide Over Trust In Media
    Deep Partisan Divide Over Trust In Media

    According to polling company Gallup, only 32 percent of adults in the U.S. have a great deal or a fair amount of trust in the mass media to report the news fully, accurately and fairly.

    As Statista’s Katharina Buchholz reports, this marks a slight decline compared to 2022 and is identical to the historical low of 2016.

    Meanwhile, the share of those not trusting the media at all reached a new all-time high of 39 percent. The number had stood at 27 percent in 2016.

    Infographic: Trust in Media Reaches New Low in U.S. | Statista

    You will find more infographics at Statista

    Gallup also reports that the level of trust in the media varies greatly depending on political preference.

    While Republicans have traditionally viewed the media more critically than Democrats, the divergence between both sides of the political spectrum in terms of how the press is regarded remains at an historical high – despite a drop in trust among Democrats this year.

    Infographic: Deep Partisan Divide Over Trust in Media | Statista

    You will find more infographics at Statista

    While 58 percent of Democrats expressed a fair amount of trust in the mass media this year, only 11 percent of Republicans did the same. This makes the gap between both parties a whopping 47 percentage points. It had been as large as 63 percentage points in 2020 and as low as 6 in the year 2000, the same result as 1972.

    Tyler Durden
    Thu, 10/26/2023 – 19:30

  • Oregon Schools Eliminate Proficiency Requirements In Math & English For Students
    Oregon Schools Eliminate Proficiency Requirements In Math & English For Students

    Authored by Jonathan Turley,

    Two years ago, we discussed how Oregon schools solved declining scores by eliminating their requirements that graduates actually attain levels of proficiency in basic subjects like math and English.

    In 2021, the changes were portrayed as just a temporary measure due to the pandemic.

    However, the state just extended it five more years.  It declared that such proficiency tests are unfair to students of color.

    So, rather than give these students the level of education needed to excel in the modern workplace, schools will now process them out with degrees and call it social progress. 

    Public schools across the country continue to fail inner city children and appear to be be giving up on reversing this trend. 

    In Baltimore, a survey found that forty percent of schools did not have a single student proficient in math. Rather than reverse that trend, the schools are just waiving the tests and graduating the students.

    What is so frustrating is reading about failing school systems waiving proficiency and claiming that it is better for minority students.

    American education faces the perfect storm.

    Despite record expenditures on public schools, we are still effectively abandoning students, particularly minority students, in teaching the basic subjects needed to succeed in life.

    We will then graduate the students by removing testing barriers for graduation. Then some may go to colleges and universities that have eliminated standardized testing for admission. At every stage in their education, they have been pushed through by educators without objective proof that they are minimally educated. That certainly guarantees high graduation rates or improved diversity admissions. However, these students are still left at a sub-proficient state as they enter an increasingly competitive job market and economy. Any failures will come down the road when they will be asked to write, read, or add by someone who is looking for actual work product. They will then be outside of the educational system and any failures will not be attributed to public educators.

    If we truly care for these students, we cannot rig the system to just kick them down the road toward failure. It is like declaring patients healthy by just looking at them and sending them on their way. We have the ability to measure proficiency and we have the moral obligation to face our own failures in helping these kids achieve it.

    Oregon board members said proficiency is now unnecessary and harmed minority students since higher rates of students of color failed to reach these levels, The Oregonian reported. The question is how the board is defining what is necessary. If any of these students hope to escape cycles of poverty, they have to be able to do better than the status quo. These boards are condemning them to the same endless cycle.

    These proficiency standards were developed by academics to establish what they viewed as the education needed to excel in our society. Now, the boards are simply downgraded to meet their own lack of academic performance. State Sen. Michael Dembrow told the Oregon Capital Chronicle insists “I think there’s an assumption here that teachers are just graduating students, who don’t have the necessary competencies and I don’t know what the justification is for that.”

    The point is that these students do not need to meet some low level of competence in order to be able to aspire to more than menial or low-level positions.

    The move in Oregon occurs at the same time as a national effort to eliminate standardized testing and scores on every level of our educational system. For example, the University of California system joined the “test-blind” movement and said it would end the use of the SAT and ACT in its admissions decisions. The move followed a decision of California voters not to lift the long ban on affirmative action in education under state law.  Many have decried standardized testing as vehicles for white supremacy.

    University of California President Janet Napolitano sought to eliminate standardized testing by assembling the Standardized Testing Task Force in 2019. Many people expected the task force to recommend the cessation of standardized testing. However, the Task Force surprised many (most notably Napolitano herself) by releasing a final report that concluded that standardized testing was not just reliable, but that “at UC, test scores are currently better predictors of first-year GPA than high school grade point average (HSGPA), and about as good at predicting first-year retention, [University] GPA, and graduation.” It even found that “test scores are predictive for all demographic groups and disciplines … In fact, test scores are better predictors of success for students who are Underrepresented Minority Students (URMs), who are first generation, or whose families are low-income.”

    Despite those conclusions, Napolitano simply announced a cessation of the use of such scores in admissions.

    previously wrote how some teachers and administrators are rapidly killing public education.

    Many of us have advocated for public education for decades. I sent my children to public schools, and I still hope we can turn this around without wholesale voucher systems. Yet teachers and boards are killing the institution of public education by treating children and parents more like captives than consumers.

    As public schools continue to produce abysmal scores, particularly for minority students, board and union officials have called for lowering or suspending proficiency standards or declared meritocracy to be a form of “white supremacy.” Gifted and talented programs are being eliminated in the name of “equity.”

    Once parents have a choice, these teachers lose a virtual monopoly over many families, and these districts could lose billions in states like Florida.

    This is precisely why school systems like the Seattle public schools are facing budget shortfalls as families vote with their feet. These families want a return to the educational mission that once defined our schools.

    The lowering of these standards reflect a lack of proficiency in public education. Rather than meet the standard previously set for success in society, Oregon will now codify pandemic measures to allow students to graduate with lower levels of math, English, and science knowledge. The people of Oregon are clearly not going to stop this trend and they are entitled to set school policy. Just don’t claim it is good for these students.

    Tyler Durden
    Thu, 10/26/2023 – 19:10

  • Panera Sued For Wrongful Death After 21 Year Old Suffers Cardiac Arrest After Drinking "Charged Lemonade"
    Panera Sued For Wrongful Death After 21 Year Old Suffers Cardiac Arrest After Drinking “Charged Lemonade”

    Panera Bread is on the receiving end of a lawsuit after the parents of a University of Pennsylvania student claim that its “Charged Lemonade” drink led to the wrongful death of their daughter.

    Their 21 year old daughter already had a heart condition, a report from 6ABC noted, but may have been led to believe that the chain’s “heavily caffeinated energy drink” was just regularly lemonade. 

    Sara Katz experienced cardiac arrest while at the restaurant with friends in September 2022, the report says. She passed away after she was transported to the hospital, where she suffered a second arrest.

    Panera said in a statement: “We were very saddened to learn this morning about the tragic passing of Sarah Katz, and our hearts go out to her family. At Panera, we strongly believe in transparency around our ingredients. We will work quickly to thoroughly investigate this matter.”

    The autopsy report said her cause of death was “cardiac arrhythmia due to long QT syndrome”, which is a disorder that can cause fast and irregular heartbeats, which can be life-threatening. 

    Katz was diagnosed at age 5 and actively limited her caffeine intake. The Panera drink included” sugar, caffeine, coffee extract and guarana extract, which are both sources of caffeine,” 6ABC wrote. 

    The lawsuit claims that Katz was “reasonably confident it was a traditional lemonade and/or electrolyte sports drink containing a reasonable amount of caffeine safe for her to drink.” It charges that Panera misled consumers by not properly labeling the drink as an energy drink. 

    “Instead, Defendants market, advertise, and sell Panera Charged Lemonade as a product that is ‘Plant-based and Clean with as much caffeine as our Dark Roast Coffee,'” the suit continues. Despite the comparison, the suit claims that because Panera doesn’t say what size the coffee it’s like, the comparison is vague and unhelpful.

    The “Charged Lemonade” in a large 30-oz cup has nearly 390 mg of caffeine. The FDA considers 400 mg of caffeine daily as safe for adults. The lawsuit alleges that the drink’s caffeine level is unregulated and could vary dangerously.

    Elizabeth Crawford, the lawyer for Katz’s parents, says Katz drank from the large cup, but due to a Panera membership offering free refills, the exact amount consumed is unknown. Crawford added: “We want to make sure that the drink includes a warning, or is taken off the shelf. It’s a dangerous energy drink and it’s not advertised that way. We want to make sure this does not happen to someone else.”

    Tyler Durden
    Thu, 10/26/2023 – 18:50

  • Massachusetts Lawmakers Pass Sweeping Gun Bill Months After 6–3 Supreme Court Decision
    Massachusetts Lawmakers Pass Sweeping Gun Bill Months After 6–3 Supreme Court Decision

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    The Massachusetts state House of Representatives approved a sweeping gun law that aims at restricting more firearms and cracking down on AR-15-style rifles—after a unanimous coalition of police chiefs in the state publicly opposed it.

    The Guardian or Authority of Law, created by sculptor James Earle Fraser, on the side of the U.S. Supreme Court in Washington, on Sept. 28, 2020. (Al Drago/Getty Images)

    The measure, which passed in a 120–38 vote on Oct. 18, prohibits people from carrying firearms into other people’s homes without their consent. It also would force major gun components to have serial numbers, which would be registered with the state of Massachusetts, while also expanding the state’s “red flag” law that allows a judge to suspend the firearms license of someone who is considered a risk to harming others.

    The legislation advanced in response to the U.S. Supreme Court’s landmark ruling in 2022 that Americans have the Second Amendment-enshrined right to carry firearms in public for self-defense, according to Democrats in Massachusetts, a state that has long had stringent gun laws.

    “The Supreme Court’s Bruen decision nullified existing components of our gun laws, threatening the safety of the Commonwealth’s residents. With the passage of this legislation, the House has once again displayed an unwavering commitment to ensuring that Massachusetts remains one of the safest states in the country,” state House Speaker Ronald Mariano, a Democrat, said in a recent statement about the measure and the landmark high court decision.

    The proposal would create new laws that bar firing guns at or near homes and outlaw carrying firearms while intoxicated. It would also prohibit carrying firearms in schools, polling places, and government buildings.

    The bill expands the state’s ban on certain types of rifles, prohibiting new purchases of AR-15-style firearms. It would also ban someone from turning a legal firearm into an automatic weapon.

    The proposal includes an enhanced system to track firearms used in crimes to help curb the flow of illegal guns into the state. It would also modernize the existing firearm registration system while increasing the availability of firearm data for academic and policy use, lawmakers said.

    The state Senate has yet to release its version of a gun bill. It will be up to both Democrat-led chambers to hammer out a single bill to ship to Democrat Gov. Maura Healey’s desk for her signature before it can become law.

    State Rep. Michael Day, the Democrat who authored the bill, claimed that “we are in the midst of a public health crisis and it is unrelenting” before blaming firearms.

    “It’s time for the House to once again act in this area and ask for your support on this bill,” he said.

    Republicans and gun rights groups say the law overreaches.

    State Rep. Peter Durant, a Republican, said on the floor that he sees only “one goal” in the bill, which is to target law-abiding citizens who own firearms.

    “When the listening tours were going on, when we were having the informational sessions, when this bill was being written, we were all told that the legal gun owner is not the not the target here. We’re not going after them,” Mr. Durant said, according to a local NBC affiliate station. “But it certainly seems to be that that’s exactly what we’re doing.”

    Another GOP state lawmaker, Rep. David Muradian, said that the “legislation is an egregious infringement on all lawful gun owners, and frankly, all residents of the Commonwealth of Massachusetts.”

    I have had interactions with hundreds if not thousands of constituents within my district on this matter. The resounding question remains: What is the new proposal trying to solve?” he said.

    A coalition of all the Bay State’s police chiefs issued a statement saying the bill would affect only lawful gun owners.

    “Although disappointed in this very predictable vote—in a proceeding where the House failed to follow their own rules—we applaud those Legislators who recognized that this bill makes no one safer. As we’ve said, the answer lies in the vigorous prosecution of criminals, who have no regard for gun laws, whether old or new. We look forward to addressing this matter with our Senate,” Massachusetts Chiefs of Police Association director Mark Leahy told the Boston Herald.

    Gun owners opposed to the bill have said that the measures outlined in the legislation do more to target gun owners than to reduce crime. “All of it goes against us, the lawful people. There’s nothing in there that goes after the criminals,” Jim Wallace, executive director of the Gun Owners’ Action League, said, adding that the bill is merely an overreaction to the Supreme Court’s decision last year.

    The Supreme Court, in a 6–3 decision last June, ruled that a state law in New York was unconstitutional because it unlawfully restricted an individual’s right to carry a firearm in public.

    The majority affirmed that such a right is guaranteed by the Second Amendment of the U.S. Constitution, adding that the states can enforce “shall-issue” permitting, meaning that applicants for concealed-carry licenses have to satisfy criteria. But their ruling stipulated that “may-issue” mandates that use arbitrary evaluations that are made by local officials are unconstitutional.

    The Associated Press contributed to this report.

    Tyler Durden
    Thu, 10/26/2023 – 18:30

  • Watch: Gen-Zers Melt Down Over 9-5 Jobs Amid Criticism About 'Bidenomics'
    Watch: Gen-Zers Melt Down Over 9-5 Jobs Amid Criticism About ‘Bidenomics’

    Some Gen-Zers are having an emotional meltdown on social media about the world of work and struggles of surviving in the era of ‘Bidenomics.’ America’s youth appears to be done with President Biden, who could be their ‘great-great-grandfather,’ as a recent New York Times-Siena poll conducted over the summer showed the president’s approval rating with the youth is in the dumps. 

    Let’s begin with one Gen-Zer who describes the horrors of working a 9-5 job. 

    “I don’t have time for anything, and I’m, like, so stressed out,” she said near the end of the video. 

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

    In a separate video, this Gen-Zer was fired up. She said, “Working a 9-5 is the biggest f*cking scam out there.” She said her numerous jobs “could not pay her f*cking bills.” 

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

    Another Gen-Zer said, “I did the math – you can’t retire in this economy.” 

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

    A New York Times-Siena poll conducted from July 23 to 27 revealed that only 4% of individuals aged 18-30 hold a very favorable view of the president, compared to 17% among the general population. This outcome, stemming from what is perceived as Biden’s failures in the economy, indicates a significant shift in support among the younger working-class demographic, posing a potential crisis for the Democratic Party in next year’s presidential election cycle. 

    Also, Gen-Zers are making it clear they will not fight any wars for the military-industrial complex. 

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

    Seems like gender studies is not preparing these young folks for the real world. 

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

    … and these kids will one day be the leaders of the US. Empire in decline?

    Tyler Durden
    Thu, 10/26/2023 – 18:10

  • Florida Hardened Its Electric Grid, California Should Follow
    Florida Hardened Its Electric Grid, California Should Follow

    Authored by Ron Brisé via RealClear Wire,

    The California Public Utilities Commission (CPUC), the government regulator that oversees the state’s electric and gas utilities, is facing a critical decision on important investments PG&E has proposed to improve the resiliency of California’s electric grid. I have been in their position, and I know how it feels to balance badly needed upgrades to the grid that can help improve resiliency and safety versus increasing costs for customers as they are facing higher costs for everyday expenses. 

    As a former Public Service Commissioner in Florida, a state that is consistently besieged by severe weather and hurricanes, I want to share with Californians the actions we took in Florida, to make our electric grid more resilient. Indeed, these grid hardening efforts have meant a more reliable and cost-efficient electricity for every resident.  

    Consider when Hurricane Ian hit the southwest coast of Florida last year and moved across the state causing great destruction – most people in the path of the storm only lost power for a few days or less. For context, Ian stands as the costliest hurricane in Florida history. 

    Florida was able to rebound quickly because prior to Hurricane Ian, the Florida Public Service Commission made a tough decision to invest billions of dollars in hardening our electric infrastructure. Those investments helped the state be more resilient to storms and quicken the pace of restoration efforts. The good news is that Florida has continued to make these kinds of investments. Just last year, the Florida Public Service Commission approved four plans submitted by power companies to allow approximately $22 billion to be invested in hardening the state power grid. 

    What we’ve learned in Florida, is that performing emergency repairs on the power grid after every hurricane is a much greater financial burden than hardening the grid ahead of disasters. Or, an ounce of prevention is worth a pound of cure.

    California was hit with a hurricane this year, but that was likely a unique event. By far, the greatest environmental threat to life, property and the power remaining on for customers is wildfires started by downed or damaged power lines. While there are ways to reduce that threat, like trimming vegetation around the power lines – by far the greatest preventative method is burying those lines known as undergrounding. 

    With this in mind, PG&E, the largest electric utility in the state, has proposed burying 10,000 miles of lines in the areas with the greatest fire risk. The company has made steady and significant progress toward this goal since announcing the target in 2021, and has pledged to increase the pace, while reducing the per-mile cost, as the years roll on.

    Recently, PG&E submitted plans to the CPUC to place roughly 2,000 additional miles underground in the next three years. This would result in customers paying about $3.40 per month in their electric bill in exchange for eliminating 98% of wildfire risk on these lines. However, the CPUC is currently considering limiting PG&E to just 200 miles of undergrounding, or as little as 50 miles per year.

    My hope is that the CPUC can learn from our experience in Florida. We had to balance the cost of hardening investments versus the cost of doing just the minimum or nothing at all. 

    As our climate continues to warm, it seems more likely than not that California will experience more wildfires, not fewer. And, if those fires occur, the loss of lives and property and damage to communities and the state’s economy will be a far greater price than the cost of undergrounding. 

    It’s also fair to say that PG&E’s undergrounding plan will help protect against wildfires and help reduce outages due to extreme weather conditions. 

    I understand firsthand how tough it is to ask customers to pay more. The district that I represented in the Florida House of Representatives held a significant number of low-income customers. What the CPUC must also acknowledge is that grid hardening is critical for the state and local economy and the most vulnerable residents. After all, those individuals are least likely to be able to evacuate until power is restored. These folks, including senior citizens, are the ones who suffer the most from a vulnerable power grid. Additionally, the commission must consider the long-term benefits of undergrounding that will help reduce the need for prolonged Public Safety Power Shutoffs, which can take a toll on the state’s most vulnerable communities.  

    Without the kind of infrastructure investments proposed by PG&E, California will still face risks from wildfires. It’s time for California to learn from our experience in Florida and make the critical decision to invest in undergrounding and grid hardening for the good of its citizens.

    Ronald Brisé is the former Chair of the Florida Public Service Commission, a former member of the Florida House of Representatives, and is an energy industry expert.

    Tyler Durden
    Thu, 10/26/2023 – 17:50

Digest powered by RSS Digest

Today’s News 26th October 2023

  • Washington Isn't Alone In Flooding The Market With Government Bonds: Beijing Is Doing It Too
    Washington Isn’t Alone In Flooding The Market With Government Bonds: Beijing Is Doing It Too

    By Ye Xie Bloomberg markets live reporter and analyst

    Washington isn’t the only capital that is flooding the market with government bonds. Beijing is doing it too. A more-proactive fiscal expansion signals that Beijing isn’t entirely complacent about its current economic stability.

    Inevitably, bond sales will suck up liquidity from the banking system. That may required the PBOC to offset the liquidity drain by lowering the reserve requirement ratio. If so, it would put a ceiling on the recent rise in bond yields.  

    US bond yields resumed their surge Wednesday after a five-year note auction met with poor demand. It underscored investors’ anxiety toward the anticipated increase of bond sales by the Treasury next week.

    China’s bond market has also been pressured by supply lately, with 10-year yields rising to a five-month high. In a rare move, Beijing announced on Tuesday plans to issue additional sovereign debt worth 1 trillion yuan ($137 billion) to support disaster relief and construction.

    The signaling effect of the move — which will send China’s budget deficit to a three-decade high — is more significant than the actual impact. Bloomberg Economics estimated the fiscal spending will only add 0.5 percentage point to GDP growth in 2024. Still, it shows that Beijing is concerned about the economic outlook amid the property crisis that’s claimed Country Garden as its latest victim.

    For the central bank, the immediate concern is to offer more funding to accommodate bond issuance. According to Nomura’s estimate, government issuance will amount to 5.9 trillion yuan in the fourth quarter, well above the 4.3 trillion in 2022 and an average of 2.8 trillion in three years through 2021.

    Liquidity conditions have already been tight. In recent weeks, the seven-day repo rate has been persistently trading well above the PBOC’s benchmark of 1.8%. Bloomberg also reported that one-year bank funding costs shot up above the PBOC’s MLF lending rate, an unusual occurrence since 2019.

    So the consensus is looking for the PBOC to lower the RRR, unleashing more cash into the banking system, and potentially lower interest rates. Standard Chartered’s economists now call for 50bp cut in RRR by year-end, versus no reduction seen previously. Economists at Goldman Sachs expect a 25bp cut in RRR and a 10bp reduction in the policy rate in the fourth quarter.

    Yields on 10-year bonds have increased 16 basis points since the PBOC’s last rate cut in August. If the PBOC pumps more liquidity into the market, it may put a lid on rising yields.

    So the consensus is looking for the PBOC to lower the RRR, unleashing more cash into the banking system, and potentially lower interest rates. Standard Chartered’s economists now call for 50bp cut in RRR by year-end, versus no reduction seen previously. Economists at Goldman Sachs expect a 25bp cut in RRR and a 10bp reduction in the policy rate in the fourth quarter.

    Yields on 10-year bonds have increased 16 basis points since the PBOC’s last rate cut in August. If the PBOC pumps more liquidity into the market, it may put a lid on rising yields.

    Tyler Durden
    Wed, 10/25/2023 – 21:40

  • Attention Military-Industrial Complex: Gen-Zers Don't Want To Fight Your Endless Wars
    Attention Military-Industrial Complex: Gen-Zers Don’t Want To Fight Your Endless Wars

    “Why is everyone saying Gen-Z is going to get drafted? Like – no – the f*ck we are not – and you know why I know that – because we’re just going to say No. Like how are they going to actually force us to get up and go to war,” a Gen-Zer on TikTok said in a recent video. 

    Besides war, he said, “We [Gen-Z] have things to do nowadays, like work and be bisexual.” 

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

    Another young TikToker revealed he is headed for the hills when a draft occurs.

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

    And another Gen-Zer interrupted boomer Hillary Clinton during a speech at Columbia University. He called on Clinton to make a statement about President Biden’s recent “warmongering speech” as a regional conflict in the Middle East could spark World War 3

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

    Observing Gen-Z’s reactions to the risk of being drafted, many of them supported Democrats. The Biden administration is currently managing two conflicts: One in Ukraine and the other involving Israel and Hamas. 

    Corporate progressive media and woke universities have brainwashed this hopeless generation into believing Democrats are the ‘party of love’ – but it’s far from that. 

    Just remember, Gen-Z, The US Army recently changed its gender policies… 

    Enjoy basic training.

    … and internet search term “military draft age” surges.

    As well as “military draft.” 

    As for the Military-Industrial Complex, good luck rounding up Gen-Zers for a draft. Many are no longer willing to fight your endless wars. It seems the propaganda isn’t working anymore. 

    Tyler Durden
    Wed, 10/25/2023 – 21:20

  • At Least 16 Dead, 50 Injured In Multiple Mass Shootings In Maine Town, Suspect At Large
    At Least 16 Dead, 50 Injured In Multiple Mass Shootings In Maine Town, Suspect At Large

    Authorities in Maine are investigating three active shooter events and a suspect remains at large, the Androscoggin County Sheriff’s Office said in a post on Facebook.

    “We are encouraging all businesses to lock down and or close while we investigate,” the sheriff’s office said.

    As The Sun Journal reports, police, fire and rescue personnel descended on Sparetime Recreation on Mollison Way about 7:15 p.m. after a report of an active shooter.

    Shortly after, reports came in that there was another shooting at Schemengees Bar & Grille Restaurant on Lincoln Street.

    Lewiston public information officer Derrick St. Laurent told the Sun Journal at about 8:15 p.m. that another shooting was reported at the Walmart Distribution Center on Alfred A Plourde Parkway.

    CNN reports that at least 16 people are dead, according to multiple law enforcement sources, and 50-60 people are injured in the incidents, though it’s unclear how many are injured due to gunfire.

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

    The Sheriff’s office released this image of the alleged suspect….

    Maine State Police also said they are responding to an active shooter situation in Lewiston in a post on Facebook.

    “Please stay inside your home with the doors locked,” state police said.

    “If you see any suspicious activity or individuals please call 911.”

    Developing…

    Tyler Durden
    Wed, 10/25/2023 – 20:51

  • Watch: Hillary Clinton Snaps At Heckler Who Blasts Her Support For "War-Mongering" Joe Biden
    Watch: Hillary Clinton Snaps At Heckler Who Blasts Her Support For “War-Mongering” Joe Biden

    With international headlines once again floating the possibility of WW3, this time connected with Israel-Gaza events and not Ukraine, the White House is coming under growing criticism for Biden’s mishandling of world events and major geopolitical flashpoints. Many pundits have of late observed that Democrats have become the “war party” – having escalated the situation in both Ukraine and the Middle East, given the billions in US weaponry being poured into hot wars but with no sense or plans for an “off ramp”. 

    These tensions spilled out into the open during an even featuring Hillary Clinton, herself a Democratic hawk who oversaw ‘dirty wars’ in Libya and Syria as then Secretary of State. She weighed in on foreign conflicts as part of a panel for the Institute of Global Politics at Columbia University on Monday. A heated back-and-forth at one point erupted as an activist stood up to challenge Clinton over her support for “war-mongering” President Joe Biden.

    It happened at about 30-minutes into the event, but lasted a number of minutes. Clinton snapped and yelled for the man to “sit down”. During the charged exchange Clinton, who clearly lost patience, pleaded with the man, “Well, then sit down. We’ve heard your opinion, thank you very much,” and additionally tried to respond to his criticisms by saying during the tense situation, “I’m sorry, but some of us are on Team America despite our flaws.” The man was later identified as Robert Castle of the Schiller Institute, a group set up by the late Lyndon LaRouche, which often shows up to high profile speaking events to loudly protest. “She’s trying to push us to WW3!” the man shouted as security tried to usher him out of the room. Clinton immediately responded, “Oh please!” Watch below:

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

     

    Tyler Durden
    Wed, 10/25/2023 – 20:40

  • Commodity Traders And Energy Giants Are Shockingly Detached From The Unfolding Middle Eastern Crisis
    Commodity Traders And Energy Giants Are Shockingly Detached From The Unfolding Middle Eastern Crisis

    By Cyril Widdershoven of OilPrice.com

    Israel is on the brink of a full invasion of the Gaza Strip, with the Israeli Armed Forces (IDF) prepared to implement a range of military strategies. While regional tensions are escalating, a full-scale war has not yet erupted on Israel’s northern borders with Lebanon and Syria, involving Hezbollah, a Shia terrorist organization, and its supporters. Diplomatic pressure from the USA and Arab nations is currently preventing Hezbollah from launching a large-scale offensive. This ongoing ‘stalemate’ is precarious, as it has the potential to trigger a regional conflict and create significant instability in Arab countries, such as Egypt, Jordan, and Saudi Arabia, which could face public backlash. Despite the concerns within the oil and gas market about the ongoing conflict and its potential impact on energy supplies and operations, the expected oil price risk premium remains relatively low. The situation appears uncertain, but even Saudi Crown Prince Mohammed bin Salman’s Davos in the Desert FII2023 conference proceeds as if the crisis is not occurring. Energy industry leaders are mingling in opulent settings at Riyadh’s Ritz Carlton, seemingly disconnected from the reality on the ground.

    Just as political leaders in the West often struggle to understand the sentiments of their constituents, leading to the rise of populism, it appears that energy giants, OPEC leaders, and commodity traders are similarly detached from the unfolding crisis. The situation bears a striking resemblance to the Russian military buildup on Ukraine’s borders in 2022 when most believed that nothing significant would happen.

    From a military geopolitical perspective, the current alertness of Western forces, including the USA and Israel, is unparalleled. While all eyes are on the IDF and its neighbors, the significant buildup of US forces in the region is being concealed from public view. The only noticeable change in posture is the preparations made by Washington to safeguard US civilians and diplomats from becoming embroiled in the conflict. However, the hidden buildup of US Navy force projection capabilities, the deployment of advanced anti-missile systems, fighter squadrons, and an offensive capacity to target any regional adversary is unprecedented. Officially, Washington attributes these military moves and preparations to protecting US troops in the Middle East, given the increased attacks on their assets by Iran-backed militants in Iraq and Syria. However, it is evident that the focus extends beyond force protection.

    Since the Hamas terrorist attack on Israel, US forces in the Middle East have been repeatedly targeted by missiles, drones, and rockets in Iraq, Syria, and even in response to Yemen-based missile launches in the Red Sea region. All these attacks have been linked to Iranian-backed operations. Washington’s recent call for US citizens to evacuate Lebanon and other Arab capitals should not be underestimated. There are clear signs that a direct military confrontation between the USA and Hezbollah, Syria, and Iran is imminent. The positioning of two US aircraft carriers off the coast of Israel, alongside the existing US fleet in and around the Arabian/Persian Gulf, underscores the seriousness of the situation. A ground assault by Israel on Gaza or heightened Hezbollah activity in northern Israel could easily trigger a larger conflict.

    Oil markets, commodity traders, investment funds, and maritime companies should reevaluate their strategies promptly. While building a military capability to project power is generally a defensive move that should be welcomed, the current actions indicate a shift from defensive to offensive postures. Unless a miracle occurs in the coming hours or days, a higher level of volatility and confrontation than what the mainstream media or analysts are portraying seems imminent. One significant incident, even initiated by a minor player like Hezbollah or Iranian-backed militias resulting in US casualties, could trigger a major crisis. Iran’s military capabilities, especially its missiles and proxy forces, are formidable, and the outcome of a full-scale confrontation would be definitive.

    In such a multifaceted conflict, the implications are extensive, encompassing the Eastern Mediterranean, the Suez Canal, the Red Sea, and the Persian Gulf. These regions are vital maritime transport routes for energy, commodities, and nearly half of global maritime trade. The costs of such a conflict would be staggering, jeopardizing future assessments and investments. History provides valuable lessons, even for algorithm-based commodity traders and investors, and the situation evokes memories of the Ukrainian crisis, but this time, the involved powers possess far greater capacity and reach. It is essential not to underestimate the global influence of Iran, which has a presence around the world, including in the USA, UK, and EU, in addition to its significant naval and IRGC capabilities. Moscow, while not overtly involved, should not be overlooked as a silent partner in the unfolding events.

    Tyler Durden
    Wed, 10/25/2023 – 20:20

  • UAW Nears Deal With Ford That Could End Six-Week Strike, Report Says
    UAW Nears Deal With Ford That Could End Six-Week Strike, Report Says

    One week after United Auto Workers boss Shaw Fain targeted Ford Motor Company’s largest and most profitable plant in Kentucky, sources tell AP News that the union appears to be inching closer to a tentative contract agreement with the automaker that could end the six-week strike. 

    Two people familiar with discussions said UAW made a counter-offer to Ford of a 25% general wage increase over the new four-year contract. They said Tuesday talks between the union and automaker extended well into Wednesday morning. Ford has previously offered UAW a 23% pay hike. 

    They added that Ford would include cost-of-living pay adjustments that could send pay increases above 30%, and workers would receive annual profit-sharing checks. 

    It’s still possible that contract talks could sour, and UAW boss Fain could hit Ford with a ‘surprise‘ labor action, sort of like what happened last week when Ford’s Louisville plant, which makes Ford Super Duty pickups, the Ford Expedition, and the Lincoln Navigator SUVs, was hit with an 8,700-member UAW strike. 

    The progress with Ford comes a day after the UAW hit General Motors’ largest and most profitable SUV plant in Arlington, Virginia, with a 5,000-member strike on Tuesday. Sources say there has been some progress in labor talks with GM. 

    As of Wednesday, 46,000 UAW workers are striking across all three automakers, or about 32% of the union’s 146,000 members. 

    “I think that Shawn Fain struck these plants at this particular time over the past week because he thought they would be near a deal and this would be the extra nudge to get something cemented,” Marick Masters, a business professor at Wayne State University in Detroit, told AP. 

    Masters continued, “When you look at the movement and the concessions, they’re getting smaller but moving closer to what the union wanted.”

    During GM’s earnings report on Tuesday, CFO Paul Jacobson said, “We can’t get ourselves in a situation of signing a deal that we can’t afford to pay or that doesn’t allow us to compete in the global marketplace.”

    And this. 

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

    Thanks UAW. 

    Tyler Durden
    Wed, 10/25/2023 – 20:00

  • Kirby Shrugs Off Soaring Gaza Death Toll, Says "Innocent Civilians Are Going To Be Hurt"
    Kirby Shrugs Off Soaring Gaza Death Toll, Says “Innocent Civilians Are Going To Be Hurt”

    Authored by Dave DeCamp via AntiWar.com,

    White House National Security Council spokesman John Kirby said Tuesday that Israel will continue to hurt “innocent civilians” in its onslaught on Gaza.

    “This is war. It is combat. It is bloody, ugly and it’s going to be messy and innocent civilians are going to be hurt going forward,” Kirby said when asked if the US thought Israel’s bombardment was a disproportionate response to the Hamas attack on southern Israel.

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

    “I wish I could tell you something different and wish that there wasn’t going to happen, but it is going to happen. And that doesn’t make it right, doesn’t make it dismissible,” Kirby added.

    He also reiterated the US’s opposition to a ceasefire in Gaza, claiming it would only benefit Hamas. Both Kirby and Secretary of State Antony Blinken said they were open to the idea of a “humanitarian pause” to allow more aid to enter Gaza.

    Kirby insisted the US would continue to urge Israel to minimize civilian casualties, but Israel has only increased its bombardment of Gaza. Israeli Prime Minister Benjamin Netanyahu said Tuesday that airstrikes launched the day before were the hardest yet.

    While Kirby framed civilian casualties as a fact of modern war, Israel’s bombardment has been particularly brutal, as attacks have been leveling entire neighborhoods. According to Gaza’s Health Ministry, after 18 days of bombing, at least 5,791 Palestinians have been killed in Gaza, including 2,360 children (and which has risen to at least 6,546 on Wednesday). 

    Kirby cast doubt on the casualty numbers coming out of Gaza since the enclave is ruled by Hamas. But the casualty rate is believable as the Israeli side has boasted about the scope of its bombardment.

    In just the first six days of its onslaught, Israeli forces dropped 6,000 bombs on Gaza, one of the most densely populated places on earth. In comparison, the US dropped 7,423 bombs on Afghanistan in 2019, the most since the US started keeping a tally in 2006.

    Tyler Durden
    Wed, 10/25/2023 – 19:40

  • Oklahoma Lawmaker Wants ATF Agents Arrested, Prosecuted After Raid On Gun Dealer
    Oklahoma Lawmaker Wants ATF Agents Arrested, Prosecuted After Raid On Gun Dealer

    Oklahoma state Rep. Justin Humphrey (R) says he’s filed a probable cause affidavit with the state Attorney General, and has demanded that agents with the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) be arrested and prosecuted following a June 16 raid on a gun dealer which resulted in the confiscation of more than 50 firearms.

    Russell Fincher stands in front of one of his gun safes emptied by the Bureau of Alcohol, Tobacco, Firearms and Explosives during a June 16, 2023 raid on his home in Tuskahoma, Okla., in this Sept. 1, 2023 photo. (Michael Clements/The Epoch Times)

    Humphrey says that the document he filed – which he collaborated on with the Pushmataha County Sheriff’s office – focuses on the agents who raided the home of FFL holder Russell Fincher.

    According to the affidavit, the ATF agents should be investigated for extortion, terroristic threats and misuse of their authority as law enforcement officials, among other charges.

    What’s more, weeks after the raid the ATF sent Fincher a list of the 50 confiscated firearms, marked each one down to $10, and allegedly offered him the option of forfeitting them in exchange for a check.

    “When you abuse your law enforcement position, I think you ought to be arrested,” Humphrey told the Epoch Times.

    Fincher told the outlet: “I just want them to really investigate it,” adding “I feel like there’s no accountability for the ATF.”

    An ATF spokesman, Ashley Stephens, told the outlet that the assertion that the ATF is confiscating guns for no reason or offering to sell them back to owners for pennies on the dollar is “a mischaracterization of what happened.”

    More via The Epoch Times;

    Handcuffed in Front of Son

    Mr. Humphrey worked for the Oklahoma Department of Corrections for 20 years as a probation officer. He said that as a former law enforcement officer, he believes the ATF agents abused their power to intimidate and coerce Mr. Fincher into giving up his property and federal firearms license.

    He is accusing the ATF of not clearly stating what crime, if any, Mr. Fincher is accused of and of pressuring him to give up guns and his FFL by handcuffing him and searching his property in front of his 13-year-old son.

    I’ve looked up all the statutes that I believe were violated,” Mr. Humphrey said.

    Russell Fincher stands in front of his house in Tuskahoma, Okla., on Sept. 1, 2023. (Michael Clements/The Epoch Times)

    In an interview with The Epoch Times last September, Mr. Fincher said he was shocked by the raid. He said his relationship with the ATF before that day had an air of professional courtesy.

    When agents called and told him to stay home that day because they needed to talk to him, he expected the same type of official visit that he’d always had.

    But when Mr. Fincher looked out his window, he saw vehicles come up his driveway, spread across his front yard, and disgorge armed men in tactical gear.

    “I didn’t know what to think,” Mr. Fincher said. He stepped out to talk with the agents, was placed in handcuffs, and led away from the house.

    They said, ‘You’re not being arrested, you’re being detained,’” Mr. Fincher said.

    The agents asked him about a gun he had legally traded at a gun show years before. A trade that Mr. Fincher said he barely remembers.

    The gun had turned up at a crime scene in California years after he had traded it. The ATF traced the gun back to him as the original purchaser. Mr. Fincher said the agents badgered him about the trade, which was legal.

    ATF agents arrive on Russel Fincher’s property in Tuskahoma, Okla., on June 16, 2023. (Courtesy Russell Fincher)

    “They said, ‘You sold this gun to a criminal.’ I asked them, ‘Do you have a criminal telling you that Russell Fincher sold me a gun?’” Mr. Fincher said.

    Mr. Stephens said that under the ATF’s administrative guidelines, agents only seize guns they’ve been authorized by the court to seize. This is why some guns may be taken while others would be left.

    We can only seize what the court tells us we can seize,” he said.

    The owner is provided forms to contest the seizure and petition for the return of the property. Those forms will contain an estimated value for the property.

    In the weeks after the raid, the ATF sent Mr. Fincher a list of the 50 confiscated firearms that set a value for each gun at $10. While stressing he was not addressing Mr. Fincher’s case, Mr. Stephens said the ATF doesn’t offer to purchase seized guns.

    “That sounds like nothing I’ve ever heard of in 20 years with the ATF,” Mr. Stephens told The Epoch Times.

    He added that the agents who seize the property don’t set the value.

    ATF agents inventory firearms they confiscated from Russell Fincher of Tuskahoma, Okla., on June 16, 2023. (Courtesy of Russell Fincher)

    Taking Issue With ATF

    The documents provided by Mr. Fincher to The Epoch Times outline the procedure for petitioning to have the property returned.

    Speaking with The Epoch Times for this story, Mr. Fincher took issue with Mr. Stephens’s assertion.

    My attorney told me that if I agreed to forfeit, they would send me a check for each gun,” he said.

    Mr. Stephens said that the ATF would comment on the case as soon as possible. However, he said he is prohibited from commenting on ongoing investigations.

    “We’re just not allowed to talk about ongoing investigations,” he said.

    Tyler Durden
    Wed, 10/25/2023 – 19:20

  • McMaken: Derek Chauvin Is Guilty Of Manslaughter, Not Murder
    McMaken: Derek Chauvin Is Guilty Of Manslaughter, Not Murder

    Authored by Ryan McMaken via The Mises Institute,

    As far as the corporate media narratives are concerned, we are only allowed to hold one of two possible opinions about the George Floyd killing in 2020.

    On the one hand, there is the position that George Floyd was a saintly man who died as a result of a racism-inspired attack by police officer Derek Chauvin. Moreover, Chauvin deliberately killed Floyd, and is thus guilty of murder.

    On the other side is the position that George Floyd was a monster who only died because he was a drug user. Chauvin, a saintly public servant, was merely trying to restrain a dangerous criminal—i.e., Floyd—who was in the process of stealing from a local merchant. Chauvin was merely in the wrong place at the wrong time since Floyd just happened to die while Chauvin was kneeling on this neck. This was bad luck for Chauvin who did absolutely nothing wrong. 

    Those are your two media-approved choices.

    • The first narrative, of course, is the standard leftwing position promoted by the likes of CNN pundits.

    • On the other side are FoxNews pundits like Tucker Carlson. 

    Neither narrative describes the actual situation, however. 

    This is important again because Carlson has recently taken to claiming that “the whole George Floyd story was a lie.” 

    This claim is based on Carlson’s theory that Floyd could not have been killed by Chauvin because Floyd had various illegal drugs in his system. 

    But is the whole George Floyd story a lie? Certainly some parts of the story are undeniably true. It is well established that Chauvin chose to use a neck restraint defined as “deadly force” by the police themselves. It is well established that Chauvin did this in spite of the fact that Floyd was already handcuffed and the police had no reason to interpret Floyd’s lack of cooperation as a threat to the police or the public. These facts were attested to by police personnel during Chauvin’s trial. 

    In other words, it is a fact that Chauvin saw fit to apply deadly force to a handcuffed man, and while using that deadly force, the subject died. 

    So, no, Carlson’s claim that the whole story is a “lie” is demonstrably false. Yes, parts of the story probably are lies.

    The idea that Chauvin was animated primarily by racism appears to be completely made up.

    The claim that Chauvin intended to murder Floyd is probably a total fabrication as well. 

    But the facts point strongly to the claim that Chauvin is indeed guilty of involuntary manslaughter. After all, manslaughter is generally defined—depending on what state you are in—as accidental homicide that occurs during the commission of some other illegal activity. 

    In Chauvin’s case, it was established during the trial that he applied deadly force to Floyd contrary to law, police policy, and Chauvin’s training. In other words, Chauvin was breaking the law by assaulting Floyd who was already restrained. While Chauvin was committing this assault, Floyd died. 

    There are, however, reasons to think Chauvin did not intend to kill Floyd.

    Chauvin committed his assault right out in the open in front of at least a dozen witnesses. Because of his disregard for policy and common sense, Chauvin apparently believed his use of deadly force would not result in death. We also know that Chauvin is a generally incompetent person. He failed at every job he had in the private sector, and only managed to meet some level of success when he stumbled upon government jobs in which it was nearly impossible to be fired. Chauvin is the poster boy for people we might describe as “shiftless government employee.” It’s entirely plausible it didn’t occur to Chauvin—as it would occur to an intelligent or competent person—that kneeling on a handcuffed person’s neck for nine minutes might result in unfortunate consequences. 

    As Carlson points out, Floyd was in poor health due to drug use and hard living. Yet, this does not mean Chauvin is not guilty of manslaughter. After all, people go to jail regularly for manslaughter as a result of assaults that might seem unlikely to kill a healthy person. Lauren Pazienza can tell you all about it. Pazienza is now serving a prison sentence for manslaughter after shoving an 87-year-old woman who fell down, hit her dead, and died. The same shove would have likely brought no harm to a younger, healthier person.  Pazienza now has eight years in prison to think about it.  

    This is why we don’t assault people unless that person poses a real risk to us. One can’t predict what might happen. Chauvin, however, who had a long record of dim-witted and aggressive behavior as a police officerchose to use deadly force on a handcuffed subject. According to the medical examiner, this was a key factor in Floyd’s death. That is, Floyd’s death was ruled a “homicide” by reason of “law enforcement subdual, restraint, and neck compression.” The use of the term “homicide” here doesn’t mean Chauvin committed deliberate murder. But it is fairly clear that Chauvin is guilty of manslaughter because Chauvin’s illegal actions brought about Floyd’s “cardiopulmonary arrest” that resulted in death. 

    Does Chauvin deserve decades in prison for this? Probably not, but he could have also easily avoided the entire situation, had he not thought himself above the law. 

    Tyler Durden
    Wed, 10/25/2023 – 19:00

  • As Mitsubishi Exits China, Other Japanese Automakers Consider Following Suit
    As Mitsubishi Exits China, Other Japanese Automakers Consider Following Suit

    Mitsubishi has officially made it way out of the Chinese auto market and now other Japanese automakers are considering doing the same.

    According to research by MarkLines cited by Nikkei this week, Japanese car manufacturers such as Toyota, Honda, and Nissan are lagging in the Chinese market this year. In the first three quarters of 2023, the trio’s combined new vehicle sales were 1.29 million, a 26% year-on-year decrease. Both Toyota and Nissan experienced declines in the ballpark of 30%.

    The rise in China’s EV adoption and the dominance of local brands like BYD and Great Wall Motor are challenging Japanese automakers. Electric vehicle sales in China soared 80% to 5.36 million last year, capturing about 20% of the new car market.

    Japanese companies, traditionally strong in gas-fueled cars, are falling behind in the fast-paced EV sector led by Chinese firms.

    Facing challenges, Japanese automakers are reorganizing their Chinese operations. Mazda plans to cut its dealership network by about 10% from 2022 levels, while Toyota terminated contracts for roughly 1,000 workers at a joint venture.

    Honda and Nissan have reduced local production, with Nissan’s output reportedly at half its peak. Estimates suggest Toyota, Nissan, and Honda have a combined 40% excess capacity in China, based on current sales forecasts.

    Nikkei writes that:

    “Japanese automakers’ market share in the Association of Southeast Asian Nations region this year came to 73% as of Oct. 19, down four percentage points from 2019, according to MarkLines and other data sources.”

    Mitsubishi, meanwhile, is expecting to take a 24.3 billion yen ($162 million) loss from pulling out of the country in the FY that ends next March. 

    Recall, we noted weeks ago that Mitsubishi was calling it quits in China. The company had been suffering from “sluggish sales”, a September report said, noting that other Japanese automakers are also reassessing their viability in the Asian country. 

    GAC Mitsubishi Motors shuttered its manufacturing operations in Hunan province indefinitely in late September, marking the end of Mitsubishi’s sole factory in China. GAC, which holds a 50% share in the joint venture, plans to repurpose the Hunan facility for electric vehicle (EV) production while aiming to retain some level of its workforce, the report says. 

    Mitsubishi Motors and Mitsubishi Corp., owning 30% and 20% stakes respectively, would pull their investments, although GAC Mitsubishi will continue to exist as a business entity, we wrote.

    Nikkei noted that in 2022, Mitsubishi’s car sales in China plummeted by 60% to 38,550 vehicles. An attempt to revive sales with the launch of the hybrid Outlander SUV last autumn failed to meet expectations. Mitsubishi now plans to reallocate resources to Southeast Asia and Oceania, areas responsible for about one-third of the company’s consolidated sales.

    Meanwhile, the electric vehicle market in China is booming, with a report from the China Association of Automobile Manufacturers indicating an 80% surge in EV sales in 2022 to 5.36 million units. Mitsubishi has lagged in this segment, relying on GAC for EV supplies in China.

    Tyler Durden
    Wed, 10/25/2023 – 18:40

  • Are We Closing In On Capitulation Levels For Chinese Stocks?
    Are We Closing In On Capitulation Levels For Chinese Stocks?

    Authored by Simon White, Bloomberg macro strategist,

    Equities in China are getting closer to a tradeable bottom, based on internal measures of breadth, improving liquidity conditions, and tentative signs the property market may be troughing.

    Stocks in China continue to lag their global peers, with the MSCI China the third-worst performing index year to date, beating only the MSCI Hong Kong and Thailand indices.

    There have been several false dawns since China lifted Covid restrictions, and we’re likely not quite there yet, but breadth in the country’s stocks is approaching the point where typically they have bottomed. That’s on top of further easing measures announced today, including a cut in stamp duty for Hong Kong stock trading.

    The percentage of stocks in the CSI 300 trading above their 200-day moving average is now about 20%, and dropping fast.

    Levels between 0% and 10% have often marked reversals in the index. The index itself is also well below its 200-day moving average.

    The advance-decline ratio is flat-lining, showing that on net very few stocks are advancing. Similarly the net number of stocks making new 52-week lows is markedly negative. It also not yet at capitulatory levels, but is approaching them.

    That also applies to the percentage of stocks whose 14-day RSI is below 30. This is at over 40%; previously when it has been more than 50% it has often marked at least a short-term bounce in price.

    China is incrementally adding more liquidity, with PBOC net-repo injections at a series high on a 3-month summed basis.

    Medium-term lending is also picking up, with one-year policy loans on track to make an all-time high.

    Monetary loosening is being joined by increased fiscal easing, with the central government — less encumbered than local governments — stepping up issuance (as speculated previously). It was announced today that the budget deficit ratio will be raised (from 3% to about 3.8% of GDP), and additional sovereign debt of one trillion yuan is to be issued in the fourth quarter.

    Crucial to a sustainable recovery in China is the real-estate market. Property developers continue to struggle with debt problems, most prominently Country Garden, which has been deemed to be in default on a dollar bond for the first time.

    Stress will persist until the property market can be reanimated. There is a hint of an early recovery, with the growth rate of floor space on new houses steadily rising through this year.

    Tyler Durden
    Wed, 10/25/2023 – 18:20

  • Wall Street Vol Legend "50 Cent" Unveils His Top 2024 Trade With "Extraordinary Upside"
    Wall Street Vol Legend “50 Cent” Unveils His Top 2024 Trade With “Extraordinary Upside”

    Jonathan ’50 cent’ Ruffer – infamous for his scooping up massive profits in front of the options market steamroller over the past few years – is back with a new trade for 2024: Japanic!

    Jonathan ’50 cent’ Ruffer

    Instead of snapping up VIX options priced at 50 cents (hence his nickname), he explains in his latest letter to investors that he has a “big position” in the Japanese Yen – betting that the currency will collapse “violently” some time soon (as a reminder, The BoJ meets next week).

    “The yen has been moving lower for a long while. With currencies, it is always dangerous to try to anticipate a change of direction, even when the fundamentals cry out for it, and our performance has suffered accordingly. We believe the yen is oversold for technical reasons and that, when these dissipate, it is likely to move sharply higher. Moreover, when it does, it is likely to be concertinaed into a brisk uncontrollable move upwards. This happened, to our advantage, in 2008, and we believe that today’s backcloth will cause a repetition of that dynamic.”

    Ruffer sees two factors working simultaneously to reinforce his trade: forced sellers of foreign currencies, and simultaneously, forced buyers of yen.

    “The compulsion to buy yen will come from two diametrically opposite sources – one domestic, one international.

    Local demand for yen will come about in the aftermath of Bank of Japan Governor Ueda’s increasing isolation in trying to hold the yields of the government bonds well below the international rate. The most likely way out of this impasse is for the authorities to compel domestic institutions to acquire such bonds at their current (anomalously expensive) prices. To do this, those institutions will have to sell down big holdings of foreign government bonds, denominated, of course, in foreign currencies. Many of those holdings have already been hedged into yen, but much of it will still be held in local currencies, with the conversion into yen telescoped into a short time window.

    The international constituency of forced sellers are those foreigners who have borrowed in yen to enjoy a lower interest rate regime than the one in which the assets are purchased. That constituency is more aware of the double advantage of a low interest rate and a steadily diminishing value of their borrowings than they are of the dangers of a currency mismatch which, at the key moment, moves sharply against them.”

    If these events occur in the course of a market dislocation, Ruffer says “the exchange rate could move as violently as it did in 2008 (up by 50% against sterling in short order).”

    USDJPY has been battling with 150/USD for a while now, prompting various interventions…

    However, nothing lasts forever, and as Ruffer explains, the market’s stability is an illusion, and everyone’s about to take the red pill…

    “At the heart of our investment strategy is the belief that 2023 has seen fundamental truths – with their gravitational pulls on valuations – momentarily overwhelmed by market forces.

    These forces can, in the short term, be very much stronger than a mere ‘gravitational pull’, but in the long term gravity always beats a good party.

    So, never bet against gravity, as armchair philosopher Ruffer concludes:

    “In summary, the world has more than a tinge of aurora borealis.

    It is a dystopian world where everyone is a victim, the central authorities in the West buy off every dissatisfaction with money they haven’t got, and a new order awaits its time, still to come.

    If you know where to look, there are eternal truths that are observable by eternal pieces of evidence.

    In the field, it is rheumatism in the knee which heralds the change from father to son; in the West, it’s the day that the cost of paying the interest on a nation’s borrowings overtakes the (sharply rising) defence budget.

    Just as with the yen, we’ve seen this all before, and we know how it ends, but that doesn’t mean the journey won’t be bumpy along the way.”

    Ruffer’s view is not that out-of-consensus, but there is something unique:

    In my experience, it is unusual to find two separate constituencies of forced buyers – to find a single one is enough. It is the strong possibility of an extraordinary upward move in the Japanese currency which provides us with the stamina to withstand the general day-to-day attrition of the yen. If the net result produces merely a satisfactory ultimate return, we will be disappointed.”

    His timing could be perfect as we noted earlier in the week, there is a sense of immediacy coming out of the Bank of Japan with regards to its curve-control experiment, just hours after the central bank intervened in the bond market, including:

    Bank of Japan officials “are likely to monitor bond yield movements until the last minute before making a decision on whether to adjust the yield curve control program.”

    Implicit in that wording is the suggestion that the central bank may be ready to adjust its curve control before next week’s decision, should push come to a shove.

    That may be especially so should the functioning of the bond market worsen.

    There comes a point in any intervention where the tipping point is determined not by the amount of money spent in defense of a policy but by the dislocations that it spawns.

    And the BOJ sources story suggests that the pain threshold is near, if not already reached.

    While an end to negative rates may still be away, a shift in curve control may come sooner than markets reckon, especially given Ruffer’s “firm conviction that inflation is in an inexorable up-cycle. We do not put timings on it, but two factors will prove more powerful at stoking rising prices than the single force pulling the other way – the impact of central bank tightening.”

    With vols so low…

    …maybe it’s to jump on the Japanic trade!

    Read Ruffer’s full letter to investors here…

    Tyler Durden
    Wed, 10/25/2023 – 18:00

  • Rep. Bowman Issued Criminal Summons For Pulling Fire Alarm
    Rep. Bowman Issued Criminal Summons For Pulling Fire Alarm

    Democratic lawmaker Rep. Jamaal Bowman was issued a criminal summons by the DC Superior Court, after he was caught on CCTV pulling the fire alarm in the House office building on Oct. 1 while Democrats were trying to delay a House vote on the stopgap bill (which eventually passed at the 11th hour).

    Bowman – who founded a school that would have held several fire drills per year, wants us to believe he mistook this fire alarm…

    …for an automatic door opener that he was trying to use to open a clearly marked emergency exit.

    Bowman wanted us to believe that he “came to a door that is usually open for votes but today would not open,” and that he’s “embarrassed to admit that I activated the fire alarm, mistakenly thinking it would open the door. I regret this and sincerely apologize for any confusion this caused.”

    And now, Bowman has to appear before the court on Oct. 26 at 9:30 a.m. on the charge of a “fire false alarm.”

    In response, Bowman said on Wednesday: “I’m thankful for the quick resolution from the District of Columbia Attorney General’s office on this issue and grateful that the United States Capitol Police General Counsel’s office agreed I did not obstruct nor intend to obstruct any House vote or proceedings,” adding “I am responsible for activating a fire alarm, I will be paying the fine issued, and look forward to these charges being ultimately dropped. I think we all know that Republicans will attempt to use this to distract everyone from their mess.”

    As the Epoch Times noted at the time; The fire alarm in the Cannon House Office Building, often called the “Old House Office Building,” was triggered around noon, leading to an evacuation of the entire building while the House was in session. The building was reopened an hour later, after Capitol Police determined the situation was not a threat.

    Capitol Police said in a statement late Saturday that an “investigation into what happened and why continues.”

    The fire alarms in the Old House Office Building are pull down triggers encased in bright red boxes that read “FIRE.”

    At the time of the evacuation, Democrat lawmakers in the House were working to delay a vote on a 45-day funding bill to keep federal agencies open. They said they needed time to review the 71-page bill that Republicans had just released to avoid a shutdown.

    ‘The law for thee, but not for me…’

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

    Tyler Durden
    Wed, 10/25/2023 – 17:40

  • Blinken Told Qatar To 'Tone Down' Al Jazeera's Biased Anti-Israel Coverage
    Blinken Told Qatar To ‘Tone Down’ Al Jazeera’s Biased Anti-Israel Coverage

    In a moment that hearkens back to the Bush administration’s spat with the Arab media network’s coverage of the start of the Iraq War, the Biden White House is bring pressure to bear against Al Jazeera, as it’s not happy with its coverage of Gaza

    US Secretary of State Antony Blinken has sought the mediation of the Qatari government to get the Doha-based channel to “tone down” its perceived anti-Israel coverage and rhetoric.

    Image via Al Jazeera

    According to an exclusive in Axios, Blinken on Monday said before a closed-door group of Jewish leaders that he “asked the Qatari prime minister less than two weeks ago to tone down Al Jazeera’s rhetoric about the war in Gaza, according to three people who attended the meeting.”

    Axios underscores that Blinken’s remarks “suggest the administration, which has asserted its support for the independent press globally, is concerned Al Jazeera’s framing of the conflict could escalate tensions in the region.” According to more:

    Blinken said he gave toning down Al Jazeera coverage of the war in Gaza as an example of steps the Qatari government can take to do this. Blinken said he asked the Qataris to “turn down the volume on Al Jazeera’s coverage because it is full of anti-Israel incitement,” according to one source.

    Blinken didn’t given any specific examples of what constitutes problematic coverage, according to the people who attended the meeting, but Israel has long accused the channel of being “a propaganda mouthpiece” for Hamas. The US administration has not gone so far as to verbalize this, but likely quietly agrees.

    Some of the White House’s own spokespersons have recently dismissed or downplayed the soaring civilian death toll in the Gaza Strip as it’s being daily pummeled by Israeli airstrikes. 

    On Tuesday national security official John Kirby in a briefing said that more innocent people will inevitably die but he did not criticize Israel’s seeming indiscriminate bombing campaign which has also killed thousands of women and children. Kirby was aske about the disproportionate response to Oct. 7, and he answered:

    “This is war. It is combat. It is bloody. It is ugly, and it’s going to be messy. And innocent civilians are going to be hurt going forward,” Kirby told reporters. “I wish I could tell you something different. I wish that that wasn’t going to happen, but it is going to happen.”

    And then on Wednesday, President Biden himself asserted, “I have no notion that Palestinians are telling the truth about how many people are killed.” He added: “I’m sure innocents have been killed. And that’s the price of waging a war. I have no confidence in the number that the Palestinians are using.”

    On Wednesday, Gaza-based Al Jazeera journalist Wael Dahdouh was informed his own family was killed in an Israeli airstrike…

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

    Al Jazeera is also a main global source which reports directly from Palestinian and Gaza sources and ministries. At this point, the Gaza death toll has reached 6,500 – which has included an Al Jazeera correspondent’s own family.

    Washington has a bit of a love-hate view and relationship with Al Jazeera. The Bush White House was actually accused of targeting Al Jazeera offices in Baghdad during the 2003 “shock and awe” bombing that kicked off the invasion. But in the decade after 2010, Al Jazeera was a big promoter of the “Arab Spring” narrative which the West used to topple Libya’s Gaddafi, and which was key to regime change attempts in Syria. During those years, the D.C. establishment heaped praise on the channel as it advanced the narrative of “moderate rebels” in places like Syria.

    Tyler Durden
    Wed, 10/25/2023 – 17:20

  • Mega-Jolt: The Costs & Logistics Of Plugging In EVs Are About To Become Supercharged
    Mega-Jolt: The Costs & Logistics Of Plugging In EVs Are About To Become Supercharged

    Authored by John Murkowski via RealClear Wire,

    U.S. Energy Secretary Jennifer Granholm gave Americans an unintended glimpse of the future during her road trip this summer touting the wonders of electric vehicles. Far from spotlighting the promise of EVs, her public relations misadventure in Georgia involved one of her staff in a gasoline-powered vehicle blocking off a coveted charger in advance of her arrival, leading to frayed tempers and a local EV owner calling the cops. It was an illustration of the challenges drivers could face as governments push the public to embrace plug-in vehicles.

    Hyped as technological marvels, EVs are boobytrapped with a host of inconveniences and tradeoffs. By now many people have heard about range anxiety, exploding lithium-ion batteries, and the environmental destruction caused by global mining for battery minerals.

    But another wave of challenges is in the offing as the federal government and state officials pump in billions of dollars to build out a massive national infrastructure of charging stations to power the EVs.

    The sheer scale of a charging infrastructure means recruiting retailers and businesses to install and maintain chargers that are expected to lose money in the near future, with some likely to be written off as economic losses.

    In California, which is slated to ban sales of new gasoline-powered cars in just 12 years, government estimates indicate the state may need to install at least 20 electric chargers for every gas pump now in service to create a reliable, seamless network.

    Massive public subsidies will be a crucial part of this effort because private industry is not willing to take the financial risks of betting on an uncertain future. Government subsidies mean complying with recordkeeping and reporting mandates and making sure chargers are online 97% of the time, while bearing the financial risk of vandalism, mechanical malfunctions, daily fluctuations in electricity pricing, and cashflow unpredictability.

    A “net zero” society inherently favors the haves over the have-nots. Renters and low-income families aren’t as likely to own private chargers, and electricity purchased from public chargers can cost five to 10 times as much as charging privately in a garage at home. To avoid penalizing the little guy, federal EV mandates require that 40% of benefits pay for public chargers in disadvantaged areas, while California requires that at least half go to such “equity” communities, where relatively few people currently drive EVs.

    The rapid transition from a reliable legacy energy infrastructure that’s more than a century old to emerging technologies in just a few decades will require the buy-in of virtually every American, including relearning driving habits and adopting charging patterns that right now constitute the leisurely prerogative of early adopters and trend-setters.

    We need to make sure the infrastructure is overbuilt, oversupplied and over-capacity so that nobody as a driver gets stranded,” said John Eichberger, executive director of the Transportation Energy Institute, a nonprofit research organization. “When you point out the challenges to a believer or a staunch advocate, well now you’re just being negative, you’re just trying to impede progress.”

    The energy secretary’s imbroglio this summer encapsulates the logistical, financial and social challenges that get glossed over in a bid to win public support for creating a carbon-neutral society that could not happen without massive government underwriting. It’s a familiar pattern of selling complicated policies as simple fixes, where the cultural gatekeepers misrepresent EVs as a “net zero” technology, lowball the total land area needed to build out solar and wind farms, and make it difficult if not impossible for critics to question the apocalyptic assumptions and dystopian predictions of climate action advocates.

    To curb greenhouse gas emissions, California, New Jersey, New York, Massachusetts, Maryland, and other states have outlawed the sale of new gasoline cars starting in 2035, and similar EV mandates have been adopted by nearly 60 countries. The Biden administration is spending $7.5 billion on 500,000 EV charging ports as part of the 2021 Infrastructure Investment and Jobs Act to boost EV sales targets to 50% of all new vehicle purchases by 2030.

    EV sales are creeping up, but nowhere near the ambitious targets set by the policy experts, accounting for under 8% of new car sales in the third quarter, and rising to nearly 10% in September. California is at the vanguard of the nation’s EV transition, with more than 1 million electric vehicles among the state’s 31-million-plus registered vehicles, and EVs accounting for about 25% of new car sales in the second quarter.

    California’s forecasts, investments, and challenges show the EV transition in a fuller light. To date, the state has committed at least $14 billion for EV infrastructure development and clean transportation, the money coming mostly from taxpayers. Other contributors include that state’s electric utilities, the National Electric Vehicle Infrastructure program, as well as the state’s share of the $14.7 billion settlement with Volkswagen over the Dieselgate emissions cheating scandal

    With so much money swishing around, especially government subsidy monies, why would anyone really want to sit back and say, ‘hold on a minute’?” said Robert Charette, President of the ITABHI Corporation, a management consulting firm based in Spotsylvania, Va., who writes about EV charging challenges. “The EV transition party is just starting, and no one wants the punchbowl to be taken away anytime soon.”

    At some point, EV experts promise, the kinks will get worked out, and EVs will become as convenient as smartphones. But at the present, the EV industry has a classic chicken-and-egg problem on its hands. The current demand for EV charging does not economically justify rapidly expanding the nation’s charging infrastructure, but without an expanded charging infrastructure in place, most people won’t buy EVs for fear of being stranded.

    Despite California’s massive infrastructure investment, now totaling nearly 94,000 public chargers, the state has fallen behind its goal of 250,000 public chargers by 2025 – and potentially 10 times that number by 2035, when the ban on new gasoline-powered cars takes effect. 

    Transition on a Massive Scale

    The sweeping societal transition decreed by government fiat puts the onus on government officials to finance the buildout of a charging infrastructure as reliable as a utility service.

    “Rarely has a government, at least the U.S. government, banned specific products or behaviors that are so widely used or undertaken,” the conservative Manhattan Institute said in a recent EV report. The report points out that EVs are unlike other emerging technologies that people buy willingly: More than a century ago, “to encourage adoption of the newly invented gasoline-powered cars, governments didn’t have to ban horses.”

    The scale of the transition is so immense and involves such uncharted waters that there’s no consensus on the amount of public chargers that will be needed.

    According to a California Energy Commission assessment, California will need more than 2.4 million public chargers to accommodate about 15.5 million electric cars, trucks, and buses by 2035. That breaks down to 2.11 million chargers (including 83,000 fast chargers) to support 15.2 million electric cars, as well as 256,000 depot chargers and 8,500 public chargers for 377,000 trucks and buses.

    The 2.4 million chargers would serve only half the registered vehicles in the state. Many more will be necessary to complete the second half of the transition, from 15.5 million EVs to more than 31 million EVs by mid-century.

    Those chargers will have to be installed at curbsides, parking lots, parking decks, grocery stores, restaurants, convenience stores, big box stores, office buildings, strip malls, shopping centers, movie theaters, and a host of other locations so that drivers always have ready access to plug-in.

    By comparison, California now has about 11,000 gas stations, convenience stores, and other businesses that sell gasoline, which roughly converts to about 110,000 individual gas nozzles, according to an estimate by Jeff Lenard, vice president of Strategic Industry Initiatives at the National Association of Convenience Stores. That means the transition from fossil fuels to electrons will require California to install at least 20 EV charging ports for every gas nozzle by 2035.

    Not all chargers are equal, so the new EV infrastructure will require significant changes in driving habits. While so-called fast chargers can bring a battery to 80% of capacity in under an hour, most of the new public chargers will be cheaper, Level 2 technology, which provides between 5 miles and 60 miles of range for each hour of charging, and isn’t practical for charging up quickly on a road trip.

    What’s more, some of these Level 2 chargers will be “shared private” chargers, meaning that they are available at workplaces and housing complexes, and limited to employees, tenants, and visitors. Today, for example, more than half of California’s 94,000 chargers are “shared private.” As a result, many Americans will likely have to coordinate other activities with publicly charging their plug-in cars, such as shopping or eating out, which becomes more involved than a quick stop at the pump to fill it up.

    (The state doesn’t keep track of the estimated hundreds of thousands of private chargers that are typically housed in someone’s garage and operate at 120 volts to provide between 3 miles and 5 miles of range for every hour of overnight charging.)

    A High-Risk, Low-Margin Business

    For the foreseeable future, chargers are expected to lose money until there are enough EVs on the road to justify the investment.

    The cost of building a fast-charging station with four or more charging ports can range from several hundred thousand dollars to more than $1 million, depending on the cost of labor, trenching, and power grid upgrades.

    Unlike gas prices, which are relatively stable, electricity prices vary during the day, so that fast chargers are subject to complicated peak demand price fluctuations and unpredictable monthly “demand charges” for the highest level of electricity needed from the local power company. Charging companies, utility regulators, and power companies around the country are trying out various solutions to help charging companies predict their costs in advance, such as variable pricing for customers, so they can manage their risk and set prices accordingly. Future strategies could include on-site battery backup and storage, combined with solar power generation, to shift load and even out demand during the day.

    Electric utilities and charging companies are not always allied. Private charging companies sometimes refuse to compete directly against regulated utilities that have guaranteed profit. Last year, in a move to encourage charging companies to invest in the state, the California Public Utilities Commission barred the state’s utilities from participating a statewide five-year, $1 billion EV charging rebate program.

    Wyoming officials commissioned consultants to assess the financial viability of chargers in their state, and the consultants said that seven remote sites would be used so infrequently they would lose from $285,000 to $372,000 per site over five years. EV industry analyst Loren McDonald, who is CEO of the consulting firm EVAdoption, wrote an analysis concluding that remote highway sites in states such as Wyoming, North Dakota, South Dakota, Montana, Idaho, and others are not likely to break even for at least five years and possibly 10 years, even with 80% of the costs covered by federal subsidies.

    McDonald and Charette both said this calculus is not limited to sparsely populated states, but also applies to “charging deserts” in larger states with large urban areas.

    I think it isn’t just an isolated issue but a larger national problem that is not being fully acknowledged,” Charette said. “Once outside the major travel corridors and urban/suburban areas, independent EV charging stations are not going to be economically viable for quite some time.”

    California officials say that chargers operating at convenience stores and other retailers will have to depend on selling other amenities to make money, basically operating as loss-leaders. A 2022 report from the California Energy Commission notes: “Revenue from electricity sales alone is often not enough today for chargers to be profitable, especially for stations with lower utilization.”

    The California Energy Commission describes other potential risks, such as state-subsidized, money-losing chargers being decommissioned.

    “It is also a risk that chargers are not operated beyond the required term of the agreement if utilization is not high enough,the report advises. “These risks are higher in areas with lower population density and travel demand.”

    In response to questions from RealClearInvestigations, the California Energy Commission said by email that not every charger has to be profitable in order to have a profitable network.

    “In addition, profitability of charging in and of itself may not be the primary goal of an installation,” the agency said. “For example, charging installed at a workplace, retail establishment, or apartment or condo building may be part of an attractive package of benefits and to drive customers to shopping centers and restaurants or local residents to parks.”

    Among the major charging companies, Electrify America does not publicly report its finances, but EVgo and ChargePoint have consistently reported operating losses and negative cashflows since their founding in 2010 and 2007, respectively, according to financial disclosures filed with the Securities and Exchange Commission.

    “This partly fuels my hunch on why station operators have historically been slow to repair non-working stations,” blogged Chris Kaiser, who leads the EV charging practice for Sona Energy Solutions, a consulting and contracting firm. “If they don’t make money on station operations they are better off having a broke station!”

    Undependable, Unavailable

    Reliability remains a persistent problem, one that will shadow the industry as chargers are built out in remote areas, low-income areas, and other out-of-the-way places.

    Tesla’s proprietary charging network, which has operated as a walled garden for Tesla owners, is the notable exception, consistently yielding high satisfaction scores. Tesla’s proprietary super chargers, which number 21,789 ports at 1,968 locations nationwide, are being opened up to non-Tesla owners around the country as the charger industry inches toward standardization. Currently different cars use different apps and networks, creating a replay of the VHS/BetaMax problem.

    The federal National Electric Vehicle Infrastructure program, approved as part of the Infrastructure Investment and Jobs Act, requires federally funded chargers to operate at a 97% reliability standard for at least five years. And California’s state-funded chargers would have to operate at the same standard for six years.

    As a stand-alone number, 97% sounds near-perfect, until one reads the small print. Downtime doesn’t count if the malfunction is caused by vandalism, natural disasters, power outages, scheduled maintenance or limited hours of operation. Downtime begins when a driver or someone else reports the nonoperational status, not when the charger breaks down. And it’s not clear what the consequence would be for failing to meet the standard, as there is no penalty, likely because imposing additional costs would only increase risks and deter private investment.

    Reviewing the public documents on EV chargers evokes memories of neglected and abused public payphones that stood exposed to harsh weather conditions and didn’t produce a dial tone. According to a California Energy Commission report issued in September: “EV charging stations are typically uncovered and unprotected from the elements. Connectors can be bent or run over by vehicles. Cables can be cut as acts of vandalism or stolen for copper. EV charging stations frequently incorporate screens that are necessary for operation, but screens can fade in sunlight, break, or be smashed.”

    There’s a huge perception gap on this issue. When EV service providers were surveyed about reliability, they said their equipment works 95%-98% of the time. “The data from the two surveys suggest there may be a disconnect between what drivers are experiencing and what the EVSPs are reporting,” the CARB report drolly stated.

    What drivers are experiencing has been abundantly documented. The analytics firm J.D. Power said this year that 20% of all EV drivers reported visiting a charger that did not or could not charge because it wasn’t working or there were long lines. The dissatisfaction rates ranged from 12% in the Cleveland-Akron-Canton area to 35% in South Florida. The firm said the trend is moving in the wrong direction: As more people buy EVs, “overall satisfaction continues to decline.”

    A University of California, Berkeley, study last year found similar results: only 72.5% of chargers in the Bay Area were functional. A newspaper columnist in California described the charging experience as miserable. “The misery was meted out in several ways,” he documented. “Charging stations were hard to find. Maps that locate stations were not reliable. Paying for a charge with a credit card often proved troublesome, sometimes impossible. Worst of all, way too many chargers were broken or otherwise out of order.”

    He warned of a public backlash against the state’s mandate banning the sale of non-electric cars in 2035 if the situation doesn’t improve.

    This year, an exasperated Los Angeles Times columnist declared she’s ready to trade in her EV because charging is such a hassle. She wrote that chargers are sometimes blocked by cars that aren’t charging, exposed to blistering sunlight, charging at lower levels than advertised, or “it may shut off mid-charge with no warning or reason.”

    The frustration seems to have no expiration date. As Jonathan Levy, EVgo chief commercial officer, told the New York Times last year: “Where there’s a screen, there’s a baseball bat.”

    jmurawski@realclearinvestigations.com
    Twitter: @johnmurawski  

    Tyler Durden
    Wed, 10/25/2023 – 17:00

  • Facebook Jumps After Beating Estimates, Cuts Expense & CapEx Guidance, Sees Metaverse Losses Rising "Meaningfully"
    Facebook Jumps After Beating Estimates, Cuts Expense & CapEx Guidance, Sees Metaverse Losses Rising “Meaningfully”

    Following up on our preview of hedge-fund darling Meta’s Q3 earnings, we note that the last few months have been quite positive for the company: last quarter Meta rebounded from a digital ad slump, beating expectations and hitting double-digit revenue growth for the first time in 18 months. Expectations will be high after the company forecast revenue growth of as much as 20% for the quarter and after Snap and Alphabet both topped expectations for ad revenue.

    Meanwhile, as Bloomberg notes, Meta – like all gigatech peers – has been all in on AI since last quarter, introducing AI chatbots for Instagram, Facebook and WhatsApp; launching new tools for marketers to create ads using AI; and releasing a free version of coding software similar to Microsoft GitHub. Meta is betting that AI-recommended content will help keep users on Facebook and Instagram. The company is especially focused on Reels, short-form videos that are similar to TikTok’s. I’ll be listening for how much time users spent on Reels videos and whether that translated into more ad dollars.

    Additionally, Bloomberg Intelligence analyst Mandeep Singh says Meta’s continuation of high-teens growth for 3Q and into 2024 may hinge on a sharp positive inflection in ad pricing, which has been declining the past six quarters: “Though the company’s Reels momentum has aided above-consensus impressions growth across its Instagram and Blue apps, we think ad loads and engagement growth are likely to plateau in the near term,” Singh said in a recent note. On the other end, Reality Labs segment losses for 2024 will be a primary focus, given the company’s recent launch of Quest 3 and Ray-Ban AR glasses.

    And so, as we get the numbers of Q3, here is a snapshot of where we stand: Meta shares fell 4.2% Wednesday, its worst daily performance since July; that said, the company is still up nearly 150% in 2023 although it is expected to be volatile: as noted earlier, the options market is signaling that Meta shares should move 8% in either direction, that’s less than the average 15% move over the past two years, suggesting that post-earnings volatility may be subdued this quarter.

    With all that in mind, moments ago Meta reported Q3 earnings which beat on the top and bottom line, and guided to Q4 revenues whose midline is right on top of the consensus estimate:

    • EPS $4.39 vs. beating exp. $3.63 and more than 100% higher YoY vs $1.64 a year ago
    • Revenue $34.15 billion, +23% y/y, beating estimate $33.51 billion
      • Advertising rev. $33.64 billion, +24% y/y, beating estimates $32.94 billion
      • Family of Apps revenue $33.94 billion, +24% y/y, beating estimates $33.08 billion
      • Reality Labs revenue $210 million, -26% y/y, missing estimates $313.4 million
      • Other revenue $293 million, +53% y/y, beating estimates $212.7 million
    • Facebook daily active users 2.09 billion, +5.6% y/y, beating estimate 2.07 billion
    • Facebook monthly active users 3.05 billion, +3% y/y, in line with estimate 3.05 billion
    • Ad impressions +31% vs. +17% y/y, beating estimates +29.6%
      • Average price per ad -6% vs. -18% y/y, beating estimates -8.94%
    • Operating margin 40% vs. 20% y/y, beating estimates 33.9%
    • Family of Apps operating income $17.49 billion, +87% y/y, beating estimate $15.23 billion
    • Reality Labs operating loss $3.74 billion, +1.9% y/y, beating estimate loss $3.94 billion
    • Average Family service users per day 3.14 billion, +7.2% y/y, beating estimate 3.09 billion
    • Average Family service users per month 3.96 billion, +6.7% y/y, beating estimate 3.88 billion

    Some more details on the company’s ad business:

    • Family daily active people (DAP) – DAP was 3.14 billion on average for September 2023, an increase of 7% year-over-year.
    • Family monthly active people (MAP) – MAP was 3.96 billion as of September 30, 2023, an increase of 7% year-over-year.
    • Facebook daily active users (DAUs) – DAUs were 2.09 billion on average for September 2023, an increase of 5% year-over-year.
    • Facebook monthly active users (MAUs) – MAUs were 3.05 billion as of September 30, 2023, an increase of 3% year-over-year.
    • Ad impressions and price per ad – In the third quarter of 2023, ad impressions delivered across our Family of Apps increased by 31% year-over-year and the average price per ad decreased by 6% year-over-year.
    • Revenue – Revenue was $34.15 billion, an increase of 23% year-over-year, and an increase of 21% year- over-year on a constant currency basis.

    Some key charts:

    And the funniest chart of all: according to FB, 203 million Americans and Canadians are on Facebook daily.

    And the punchline: 75% of Americans and Canadians are on Facebook every month. Sure they are.

    Looking ahead, the company forecast Q4 revenue in the range of $36.5-40 billion, whose midline is smack on top of the Wall Street consensus of $38.76BN. The guidance assumes currency tailwind of approximately 2% to year-over-year total revenue growth in the fourth quarter, based on current exchange rates

    Also from its guidance, Facebook slashed its total expenses by $2 billion for the full year 2023, which it now sees in the range of $87-89 billion, lowered from the prior range of $88-91 billion. This outlook includes approximately $3.5 billion of restructuring costs related to facilities consolidation charges and severance and other personnel costs. The company also expects Reality Labs operating losses to increase year-over-year in 2023.

    And in a move which AI peers like NVDA and ANET are hardly excited about, Meta also trimmed its CapEx guidance, which it now expects to be in the range of $27-29 billion, updated from the prior estimate of $27-30 billion. Which means less spending on AI chips and chatGPT algos. In kneejerk response, both NVidia and Arista slumped on the capex guidance cut, although that may be premature since META noted that CapEx growth will be “driven by investments in servers, including both non-articial intelligence (AI) and AI hardware, and data centers as we ramp up construction on sites with the new data center architecture we announced late last year.”

    In the earnings release, Chief Executive Officer Mark Zuckerberg called out the company’s work in AI and its new virtual reality headset, the Quest 3, and Ray-Ban smart glasses.

    Meanwhile, two years after its ridiculous rebranding, Meta still plans to lose money in Reality Labs, the division that builds metaverse tech:  “we expect operating losses to increase meaningfully year-over-year due to our ongoing product development eorts in augmented reality/virtual reality and our investments to further scale our ecosystem”

    Bloomberg Intel’s Mandeep Singh tells Bloomberg TV that the flagship Blue app is almost half of revenue, and “that revenue is sort of flat. Instagram is the growing portion.”

    “They have spent $50 billion on Reality Labs. We still don’t have a product that is margin-accretive. they are losing money on every headset they are selling. We don’t know what ecosystem they can create.”

    In kneejerk response META stock jumped as much as 3% but has since eased back erasing much of its after hour gains, and ensuring that anyone who expected an outsized move using options is about to see a total loss.

    Earnings presentation below:

    Tyler Durden
    Wed, 10/25/2023 – 16:43

  • The Toxic Brew That Is Going To Create Endless Chaos In The Streets Of America
    The Toxic Brew That Is Going To Create Endless Chaos In The Streets Of America

    Authored by Michael Snyder via TheMostImportantNews.com,

    Really bad policies lead to really bad consequences, and our leaders have been making absolutely disastrous decisions for decades. 

    As a result, the streets of America are now teeming with thieves, drug addicts, prostitutes, violent criminals and sexual predators.  We have raised an entire generation of young Americans that has no moral foundation whatsoever, and every day we are adding even more immigrants from third world countries to the mix.  Many of those immigrants have no intention of following our laws, and they are fueling the explosive growth of criminal gangs all over the nation.  On top of everything else, the war in the Middle East threatens to spark an unprecedented wave of domestic terror attacks here in the United States.  Millions of radical Muslims now live in this country, and when the time comes many of them will not hesitate to commit acts of violence.

    I have been writing about the social decay in our major cities for many years, but in all that time I have never come across a story quite like this one

    We all know that San Francisco has a terrible, awful, horrible, homeless problem with homeless people sleeping everywhere. One homeless man set up camp across from a Catholic grade school. It would have been a curiosity except for the signs he hung outside of his tent.

    “Free fentanyl 4 new users” and “Meth for stolen items.”

    Joseph Adam Moore served six years for unlawful sex with a 12-year-old girl and was accused of having sex with a 15-year-old girl just a month after getting out of prison. But his probation deal did not include staying away from schools. So he camped directly across from Stella Maris Academy and began to host parties of stoners — much to the neighborhood’s dismay.

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

    This young man checks almost all of the boxes.

    He is a convicted felon, he is a drug addict, and he is a sexual predator.

    And there are countless others just like him all over the country.

    For example, the other day parents attacked a naked man inside a JCPenney store near Seattle after that naked man “attempted to inappropriately touch their children”

    A shocking video shows a naked man being attacked by parents at a JCPenney store near Seattle after he allegedly attempted to inappropriately touch their children.

    The person recording the clip explains that they’re on the first floor of the kids’ department of the location, as the man is attempting to evade people chasing him wearing nothing but socks.

    ‘He’s like, holding the kid,’ the recorder claims, suggesting that the unidentified man was trying to touch two kids that he had with him in the store.

    Good for those parents.

    If I had been there, I would have gone after him too.

    Unfortunately, our entire society is now descending into an abyss of sexual degradation.

    Thanks to a new law that was recently signed by California Governor Gavin Newsom, the city of Los Angeles has essentially been transformed into a giant brothel at this point…

    Emboldened by new California laws that make it nearly impossible for cops to bust prostitutes, sex workers in Los Angeles’ red light district stalk for business wearing no more than thongs, G-strings and high heels in broad daylight.

    A 40-block area of Figueroa Boulevard in South LA sees hundreds of prostitutes, some barely out of their teens, plying their trade since Gov. Gavin Newsom passed the controversial Safer Streets for All Act, which decriminalized loitering with the intent to work as a prostitute in January.

    “Before, this type of activity only happened at night where most citizens wouldn’t see it, but now it’s 24/7,” one source told The Post.

    Needless to say, the enormous tsunami of migration that we have been experiencing during the Biden administration has greatly contributed to our social problems.

    According to brand new numbers that have just been released, the number of migrants that our border patrol officers encountered during the month of September set a brand new all-time record high for a single month…

    United States Customs and Border Protection reported the final month of southwest border encounters for fiscal year 2023, revealing yet another record-setting month and year under the Biden administration.

    Official numbers totaled 269,735 encounters for September 2023, a new monthly record, which sets fiscal year 2023 at a record-setting 2,475,669.

    The yearly total eclipses 2022’s record encounters by nearly 100,000, marking yet another terrible year for President Biden’s border control.

    How many others were able to enter this country successfully without being encountered by border patrol officers at all?

    Protecting our borders is one of the very few things that the federal government is actually required to do, and under the leadership of Joe Biden the federal government is failing at that task spectacularly.

    And now we are being warned that members of Hamas and Hezbollah may try to come over our southern border

    The San Diego Field Office Intelligence Division of Customs and Border Protection (CBP) has warned in a memo that members of terrorist groups — namely Hamas, Hezbollah, and Palestinian Islamic Jihad (PIJ) — could be encountered at the porous southern border. The warning comes weeks after the Palestinian terrorist group Hamas attacked Israel, murdering 1,400 individuals and taking many more hostage on October 7.

    The Daily Caller News Foundation first obtained and shared the October 20 memo, which warned that “individuals inspired by, or reacting to, the current Israel-Hamas conflict may attempt to travel to or from the area of hostilities in the Middle East via circuitous transit across the Southwest border.”

    I have a message for whoever wrote that memo.

    Hezbollah is already here.

    In fact, Hezbollah has been very active in North America for a long time.

    Of course those that have ties to Hezbollah are just a small subset of the rapidly growing population of radical Muslims in this country.

    And now that war has erupted in the Middle East, many of those radical Muslims are protesting in the streets.

    On Sunday, a pro-Hamas mob took over an entire section of the city of Minneapolis…

    A pro-Palestine mob on Sunday took over a street in Minneapolis, swarmed an elderly driver, chased after him, and harassed him.

    The mob blocked traffic for several hours on Hennepin Avenue near the Walker Art Center, according to Crime Watch Minneapolis.

    The militants surrounded an elderly man in a white sedan, beat on his car, and chased him down.

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

    Once upon a time, Minneapolis was such a nice city.

    But now those days are long gone.

    Eventually, the radical Muslims may completely take over Minneapolis just like they have done in Dearborn, Michigan.

    For a long time, I have been warning my readers that our immigration policies will lead to complete and utter madness in the streets of America.

    Once the war in the Middle East really gets going, we are going to see things happen in this nation that many people thought that they would never see in their entire lifetimes.

    But things didn’t have to turn out this way.

    If we would have protected our borders and would have implemented common sense immigration policies, much of the coming chaos in our streets could have been prevented.

    *  *  *

    Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

    Tyler Durden
    Wed, 10/25/2023 – 16:20

  • Nukes & Pukes: Bullion, Black Gold, & Bitcoin Jump As Bonds & Big-Tech Dump
    Nukes & Pukes: Bullion, Black Gold, & Bitcoin Jump As Bonds & Big-Tech Dump

    Delayed invasions in Gaza (in order to move more US air defense hardware into place) and Russia training for nuclear strikes were not a great background for buying stocks (even after MSFT’s earnings, and despite GOOGL’s disappointment) and ‘strong’ housing data didn’t help any dovish cases.

    No safe-haven bid in bonds as the dollar, gold, and crypto rallied and oil jumped after some early weakness on the nuke sabre-rattling.

    Treasuries puked hard with yields higher across the curve with the long-end significantly underperforming (30Y +15bps, 2Y +5bps). All yields are now higher on the week…

    Source: Bloomberg

    30Y yield ramped back above 5.00%

    Source: Bloomberg

    Stocks were nuked as even a better than expected new home sales print (which means homebuilder margins must be getting monkeyhammered) did not help. Higher rates hammered the longest duration equities with Nasdaq the biggest loser. The Dow was the prettiest horse in today’s glue factory with S&P and Small Caps ending down around 1-1.5%…

    Worst day for Nasdaq since Dec 2022.

    As Goldman’s Chris Hussey noted, unfortunately for stocks today, the strong housing market is likely contributing to a higher rate environment. Yields on 10-year Treasuries are up 13bp to 4.95%. While yields rose much more steeply a year ago (when 10-year Treasuries rose to 4.2% from 1.4% in 2022), the latest move up in yields is coming alongside a growing assumption that yields are unlikely to return to the ultra-low post-GFC levels that markets enjoyed for over a decade leading up through the pandemic. Today’s housing report, for example, is unlikely to provide any reason for the Fed to think that it has raised rates too high. And this higher-for-longer yields environment is weighing on a host of stock valuations.

    The S&P 500 broke below its 200DMA to its lowest close since May…

    After yesterday’s big squeeze higher, today saw ‘most shorted’ stocks clubbed like a baby seal…

    And 0-DTE Put-buyers piled on all day (as Call-Deltas remained relatively flat)…

    Consumer Discretionary and Tech tankled today as Energy, Staples, and Utes rallied. Bank stocks dumped and pumped…

    5 of the 7 Mega Cap tech stocks (MSFT, TSLA, META, AMZN, GOOGL) will have reported earnings by the end of this week, and we note that while the group’s valuation is well off its high, mega-cap Tech still trades at a significant premium to the other 493 stocks in the S&P 500…

    VIX surged back up to a 20 handle…

    Oil rallied hard off earlier spike lows to close green as Russian nuke test headlines helped…

    …and those same headlines lifted gold (futures) back up towards $2000…

    …and Bitcoin back to $35,000…

    Source: Bloomberg

    And that all happened as the Dollar Index rallied (Loonie and JPY weakness)…

    Source: Bloomberg

    Finally, we note that USA Sovereign credit risk continues to push higher…

    Source: Bloomberg

    It seems clear what ‘Bidenomics’ was really about after all.

    Tyler Durden
    Wed, 10/25/2023 – 16:00

  • Jim Grant: The Fed Needs Some Grounding In Financial History & Common Sense
    Jim Grant: The Fed Needs Some Grounding In Financial History & Common Sense

    Via SchiffGold.com,

    Will the Federal Reserve raise interest rates again? Or is this hiking cycle over? Will it really hold rates higher longer, or will it cut in the near future? Everybody in the financial world is trying to predict the central bank’s next move.

    Fed members insist they are data-dependent and will go where the numbers lead them. But in an interview on CNBC, financial analyst Jim Grant said data alone isn’t enough. You need to put the data into context.

    The whole “data-dependent” canard is questionable to begin with. How long did Jerome Powell and other central bankers insist that inflation was “transitory” despite the data indicating otherwise?

    When the Federal Reserve could no longer pretend price inflation was “transitory,” finally launched a war on inflation and rapidly hiked interest rates. Currently, rates are at between 5.25 and 5.5%. Many people in the mainstream think the hiking cycle is over. Paul Krugman even went so far as to say the war was over, and he declared, “We won.”

    But if you believe the data, price inflation might be down, but it isn’t out.

    So, has the Fed done enough?

    Jerome Powell delivered a speech last week at the Economic Club of New York. Grant said like every “Delphic prophet,” the Fed chair was “just ambiguous enough.”

    During the speech, Powell claimed that interest rates are currently restrictive. Grant said this “isn’t born out by what the Fed likes to call the data.”

    There are four or five indices of financial conditions, and four of the five say that notwithstanding this rise in rates and QT and the like, conditions in finance are generally accommodative. It makes you wonder what stringency would feel like because certainly on kind of a tactile basis it does feel as if things are rather taut.”

    Grant noted that these indices were flashing “tight” when the Fed went to battle with the inflation of the 1970s.

    Peter Schiff recently said the real problem isn’t the 5% interest rates of today. It was the zero percent interest rates the Fed maintained for more than a decade. That precipitated a “decade of reckless spending financed by debt.” Not only has the federal government run up a massive debt, so have corporations and American households.

    “Everybody has gorged themselves on this debt fest that was served by the Federal Reserve,” Schiff said.

    Grant put it another way, saying the long run of artificially low interest rates “introduced a fragility in the economy that 5% is now testing,” and he said we’re now seeing the characteristic consequences of very low, “money grows on trees” interest rates.

    As an example, Grant pointed out the Bezos/Gates-backed trucking company Convoy that shuttered operations. In April 2022, Convoy was valued at over $3.5 billion. The Convoy CEO Dan Lewis cited contractionary credit markets as one of the reasons for the shutdown.

    Grant said we’re not seeing this kind of situation far and wide, “but it is beginning to happen.”

    I think as time goes on, you’ll see much more of it.”

    Meanwhile, the Fed keeps insisting that it is “data dependent.” But the data is always backward-looking. And as Grant pointed out, it is also subject to revision.

    One shouldn’t be utterly dependent on them [data]. Jay Powell at his summertime speech in Jackson Hole said something like, ‘The Fed is navigating by the stars under cloudy skies,” which I think is most apt.”

    Data alone isn’t sufficient without a framework or a theory in which to contextualize it.

    I would submit to you that a common sense approach might be helpful. For example, you can reason that if you’ve been repressing interest rates, you being the central banks collectively worldwide, but suppressing them for the better part of 10 years, and if at one point, an extreme point, some $16 trillion of securities were priced to yield less than nothing – the lowest rates in 4,000 years of recorded rate history – in those circumstances, you’d expect that the proverbial beach ball held underwater would pop up again and not just stop at the surface, but rather shoot a little bit up in the air.”

    Grant concluded that one can’t be a prisoner to data.

    You have to have some grounding in financial history and some grounding in common sense.”

    Tyler Durden
    Wed, 10/25/2023 – 15:40

Digest powered by RSS Digest

Today’s News 25th October 2023

  • What Can You Do If A Mob Of Far-Left Antifa-Style Rioters Surround Your Car?
    What Can You Do If A Mob Of Far-Left Antifa-Style Rioters Surround Your Car?

    Law-abiding citizens are wondering what to do when a mob of far-left Antifa-style rioters surround their vehicle, sort of like the incident on Sunday where pro-Palestinian protesters illegally blocked a city street in downtown Minneapolis and attacked an apparently confused elderly man in his car. 

    Washington Gun Law President William Kirk addressed the viral video showing an elderly man surrounded by a mob of angry pro-Palestinian protestors who began damaging his vehicle. This incident raises a frequent question Kirk has received in the last few days: How should one respond when an aggressive crowd besieges their vehicle?

    Here’s the video:

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

    Kirk provides a legal framework around self-defense laws and when a driver can and cannot use lethal force when surrounded by far-left Antifa-style rioters: 

    Legal Standpoint:

    • Understanding of self-defense laws is crucial.
    • Key principles of self-defense:
      • Force can be used in self-defense if it is necessary, reasonable, and proportional.
      • Lethal force can only be used under specific conditions (imminent threat of death, serious injury, etc.).
      • Driving into or over individuals can be considered deadly force.
    • Defending property:
      • Cannot use lethal force solely to defend property.
      • Physical threats to individuals inside the car can justify the use of force.

    Scenarios:

    • If only the car is being damaged, lethal force is not justified.
    • If windows are being smashed, the potential threat of serious bodily injury arises.
    • If attackers are trying to pull people out of the car, it indicates an imminent threat, potentially justifying lethal force.
    • The driver in the video showed restraint and did not use lethal force despite being surrounded twice.

    Conclusion:

    • Importance of understanding local laws and ensuring responses are in line with legal requirements.
    • Washington Gun Law resources are linked for those interested.
    • Final message about the importance of being a lawful and responsible gun owner and understanding applicable laws.

    Watch Here:

    If progressive city leadership in Minneapolis had prioritized law and order, the incident would never have occurred on Sunday. We encourage readers to familiarize themselves with their state’s self-defense laws during uncertain times. To minimize potential confrontations, it might be wise to consider moving away from imploding Democrat-controlled urban centers for rural areas as disastrous ‘defund the police’ policies unleash a crime crisis like this country has never seen before. 

    Tyler Durden
    Tue, 10/24/2023 – 23:05

  • Elon Musk Warns "We Are Sleepwalking Our Way Into World War Three"
    Elon Musk Warns “We Are Sleepwalking Our Way Into World War Three”

    Authored by Steve Watson via Summit News,

    During a Twitter/X Spaces discussion Monday, owner Elon Musk warned that he believes the West is “sleepwalking our way into world war three,” and “putting civilization itself at stake.”

    Musk noted that America is lagging behind both China and Russia in terms of industrial output, and that Western leaders are pushing those two nations closer together “in an axis of immense power against the west, and laying the groundwork for World War Three.”

    Musk explained “Russia has the raw materials, and China has the industrial capacity,” adding “It’s frankly, a perfect match from a war standpoint. So I think we need to stop doing that. It’s unwise, and I think will lead to an immense risk to civilisation.”

    He continued, “I want to emphasise like that, there’s civilisational risk – there are tragedies on an individual level, tragedies on a community level, and then there’s civilisational risk. We just need to make sure that we’re not putting civilization itself at stake, which is World War Three.”

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

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

    “I think we are sleepwalking our way into World War Three,” Musk further noted, adding “Really, people should be deeply self reflective. If they make their predictions have not come true. They should consider whether perhaps there are other predictions might not come true either.”

    “What is the track record here?” Musk continued, noting that there is no longer anyone alive who remembers how horrific world wars are and that everyone today is “coddled.”

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

    *  *  *

    Brand new merch now available! Get it at https://www.pjwshop.com/

    ALERT! In the age of mass Silicon Valley censorship It is crucial that we stay in touch. We need you to sign up for our free newsletter here. Support my sponsor – Summit Vitamins – super charge your health and well being.

    Also, we urgently need your financial support here.

    Tyler Durden
    Tue, 10/24/2023 – 22:45

  • Seattle Kicks Off Anti-Drug Push With Dozens Of Arrests As Portland Business Owners Beg For Help
    Seattle Kicks Off Anti-Drug Push With Dozens Of Arrests As Portland Business Owners Beg For Help

    Elected officials in Portland and Seattle are beginning to regret turning their cities into crime-ridden hellholes, after their response to Trumpism and the BLM riots in the wake of George Floyd’s death was to defund or otherwise hinder police, elect DAs who refuse to prosecute a variety of crime, and promote rampant drug use.

    Now, they’re dealing with the predictable hangover.

    Looking out at downtown Portland, Oregon from a high rise building.

    In Portland, 25 businesses have banded together for a strongly worded letter to elected officials, who they’ve demanded address their concerns over the city’s crime wave that has decimated foot traffic to businesses such as Ace Hotel, Central Office, Crafty Wonderland, Courier Coffee, Mimi’s Fresh Tees and Multnomah Whiskey Library, according to KGW8.

    The situation in Portland is so bad that residents have been told not to call the police unless their lives are at risk thanks to the city’s overwhelmed 911 system. In May, Portland officials figured out that defunding the police was pure idiocy, and attempted to reverse course after cutting the PD budget by $15 million, like idiots.

    Portland has also experienced a spate of major stores leaving the region, including REI, Walmart and Cracker Barrel.

    “Revitalizing downtown businesses necessitates a multifaceted approach that addresses various aspects of their operations and environment,” reads the letter from the 25 businesses, which includes ideas for garnering more financial support from government in general amid a shrinking customer base that’s killing foot traffic.

    Seattle, meanwhile, is making progress towards reducing crime and drug use.

    Seattle police Chief Adrian Diaz speaks at a press conference Friday at police headquarters following the day’s operations. (Luke Johnson / The Seattle Times)

    Hours after the city’s new law against public drug use and possession took effect Friday, cops made around two dozen arrests, according to the Seattle Times.

    Police handed out flyers Friday morning in an effort to educate people about the controversial new law, then returned Friday afternoon to enforce the gross misdemeanor offenses, Diaz said in a news conference at the Seattle Police Department headquarters.

    The operations targeted the vicinity of 12th Avenue South and South Jackson Street in the Chinatown International District’s Little Saigon neighborhood and Third Avenue and Pine Street in downtown. Both areas have seen prominent public drug use for years.

    We are going to be compassionate in our approach to getting people connected with services while still making sure our city streets are safe,” said police Chief Adrian Diaz.

    The enforcement action stems from Seattle’s adoption last month of a law which allows the City Attorney’s Office to prosecute individuals who knowingly possess illicit drugs such as fentanyl, and for using them in public.

    Seattle Mayor Bruce Harrell championed the new law, which passed by a narrow 6-3 vote. Supporters say it will improve public safety and help addicts find treatment, while opponents say the law will punish people for said addictions – calling it a new version of the failed war on drugs.

    Seattle police officers ride up South King Street to 12th Avenue South on Friday, ready to enforce the city’s new public drug use and drug possession law. (Luke Johnson / The Seattle Times)

    Leftist Seattle councilmember Teresa Mosqueda said the Friday arrests underscore her concerns.

    “Data shows the minute you’re arrested, there are cascading consequences for your stability. People are more likely to die while in jail due to withdrawal or die upon release due to overdoses,” she said. “We don’t want public consumption throughout the streets, but we do not have the treatment resources necessary to implement this policy.”

    *  *  *

    Read the Portland letter below:

    Dear Esteemed Elected Officials,

    We trust this message finds you in good health and high spirits. We, the downtown business owners of Portland, are reaching out as concerned stakeholders to bring attention to the pressing issues currently affecting our city center. The adverse conditions in our downtown area have a profound impact on local businesses. While we recognize the complexity of these challenges, we urge our city and state officials to collaborate in addressing these issues and reinvigorating downtown Portland without delay.

    Downtown Portland has long served as the vibrant heart of our community, offering a diverse mix of retail establishments, dining options, cultural attractions, and small enterprises. Unfortunately, recent years have witnessed a noticeable decline in the cleanliness, safety, and overall allure of this area. This deterioration has given rise to several significant concerns:

    1. Public Safety: The increased incidents of public disturbances, criminal activities, violence, and vandalism have left residents and visitors feeling unsafe in downtown Portland. This perceived lack of security significantly hampers our local businesses, discouraging potential customers and leading to reduced in-person sales.

    2. Homelessness and Unsheltered Individuals: The homeless population in downtown Portland has grown considerably, necessitating more comprehensive support and housing solutions. The presence of unsheltered individuals, drug use, and vandalism negatively impacts downtown life and disrupts business operations.

    3. Cleanliness and Maintenance: The cleanliness of our city center and parking garages have suffered due to litter, bodily waste, graffiti, and neglected public spaces. A clean and well-maintained environment is vital for attracting residents and tourists to downtown businesses.

    4. Economic Impact on Local Businesses: The deteriorating conditions in downtown Portland are directly and detrimentally affecting local businesses. Decreased foot traffic, negative perceptions, and increased security costs are imposing financial strain on entrepreneurs and jeopardizing their business viability.

    Revitalizing downtown businesses necessitates a multifaceted approach that addresses various aspects of their operations and environment. Here are several solutions that can aid in the repair and revitalization of downtown businesses:

    1. Direct Financial Support for Existing Businesses: Offer grants, low-interest loans, or tax incentives to downtown businesses to help them recover from economic downturns. Directing resources towards small businesses is essential for preserving the unique shopping experience of downtown.

    provide startups and small businesses with affordable office space, shared resources, and mentoring support.

    3. Marketing and Promotion: Increase marketing and promotional campaigns to draw customers back to downtown areas. Organize events, festivals, and local markets to boost foot traffic and sales. Create a map of small businesses to aid visitors. Provide resources directly to businesses for store marketing.

    4. Facade Improvement Programs: Implement programs that offer grants or low-interest loans to business owners for enhancing the appearance of their storefronts, thereby improving the overall aesthetic of downtown.

    5. Support Local Entrepreneurs: Provide training and resources to aspiring entrepreneurs, particularly those from underserved communities, to establish and sustain businesses in downtown areas.

    6. Digital Presence: Assist businesses in establishing and enhancing their online presence. Offer workshops on e-commerce, social media marketing, and website development to reach a broader customer base.

    7. Public Parking Incentive: Encourage more customers to park downtown by offering free parking during specific hours and ensuring parking safety through well-maintained garages, helping to generate revenue for businesses and the city.

    8. Arts and Culture: Foster local artists and cultural organizations by hosting art exhibitions, performances, and cultural events in downtown spaces.

    9. Business Networking: Facilitate networking events and organizations that allow business owners to connect, share ideas, and collaborate on projects that benefit the downtown community.

    10. Tourism Promotion: Promote downtown as a tourist destination, highlighting its unique shops, restaurants, and cultural attractions. Consider establishing a neighborhood association for businesses and residents.

    By implementing a combination of these solutions, local governments, business associations, and community members can collaborate to repair and revitalize downtown businesses, creating vibrant and economically thriving urban centers.

    Tyler Durden
    Tue, 10/24/2023 – 22:25

  • Are The Chinese Selling Dollars To Buy Gold?
    Are The Chinese Selling Dollars To Buy Gold?

    Authored by Michael Maharrey via SchiffGold.com,

    Are the Chinese selling US dollar-denominated assets to buy gold?

    It sure looks that way.

    Chinese investors sold $21.2 billion in US assets in August alone – primarily US Treasury bonds.

    [ZH: Note that as the capital outflows soared, the price of gold also soared…]

    Meanwhile, the Chinese government has been buying gold at a steady pace.

    Writing at FXEmpire, analyst Vladimir Zernov said there are two dynamics driving the Chinese to sell US assets.

    The first is an effort to boost the yuan.

    China’s currency has struggled against the dollar of late due to softness in the Chinese economy and recently hit multi-year lows. Selling dollar-denominated assets for yuan boosts the local currency at the expense of the dollar. Zernov said, “Selling dollar-denominated assets to provide support to yuan makes perfect sense.”

    The second potential reason to sell US dollar-denominated assets is for further de-dollarization. In other words, the Chinese may be trying to minimize their exposure to the US currency for economic and geopolitical reasons.

    From an economic standpoint, the Chinese have to be keenly aware of the US government’s budget problem. The US ran a $1.7 trillion deficit in fiscal 2023 and has a national debt north of $33.5 trillion. Why would any country want to be exposed to that kind of risk?

    Furthermore, the US has a long history of using the dollar’s position as the reserve currency as a foreign policy hammer. By minimizing dependence on the greenback, countries can blunt America’s ability to control their foreign policy decisions.

    This is why many countries are trying to minimize their exposure to the dollar. Confidence in the greenback continues to erode thanks to the profligate borrowing, spending, and money creation by the US government, while America’s use of the dollar as a foreign policy weapon also makes many countries wary of relying solely on dollars.

    Zernov said that if China is trying to shift some of its money away from the US-controlled, dollar-dominated global financial system, there aren’t many options other than gold.

    Gold is one of the few markets that has sufficient liquidity to absorb billions of dollars of China’s funds.”

    The Chinese central bank has been on a gold-buying spree. As of the end of August, the People’s Bank of China had bought gold for 10 straight months and ranked as the largest central bank gold buyer this year. The Chinese central bank has increased its official reserves by 166 tons since the beginning of the year and 217 tons since it resumed official purchases last November. As of the end of August, the People’s Bank of China officially held 2,165 tons of gold, making up 4% of its total reserves.

    China has a history of adding to reserves and then going silent.

    The People’s Bank of China accumulated 1,448 tons of gold between 2002 and 2019, and then reported nothing for more than two years before resuming reporting last fall.

    Many speculate that the Chinese continued to add gold to its holdings off the books during those silent years.

    In fact, there has always been speculation that China holds far more gold than it officially reveals. As Jim Rickards pointed out on Mises Daily back in 2015, many people speculate that China keeps several thousand tons of gold “off the books” in a separate entity called the State Administration for Foreign Exchange (SAFE).

    Last year, there were large unreported increases in central bank gold holdings.  Central banks that often fail to report purchases include China and Russia. Many analysts believe China is the mystery buyer stockpiling gold to minimize exposure to the dollar.

    Zernov pointed out that the Chinese tend to move slowly and it remains to be seen if the recent selloff in dollar-denominated assets translates to even more gold demand.

    We will see whether the country decided to boost its gold holdings sometime in the first half of the next year. Any signs showing China decided to increase its gold reserves will be bullish for gold and may send its price toward new highs.”

    Tyler Durden
    Tue, 10/24/2023 – 22:05

  • Four Men Charged In Heist Of More Than $230,000 In Dimes From Big Rig
    Four Men Charged In Heist Of More Than $230,000 In Dimes From Big Rig

    Federal authorities unsealed charges on four men from Philadelphia over the heist of a truck carrying more than $230,000 in dimes that took place earlier this year in Northeast Philadelphia. 

    The four men charged are 25-year-old Rakiem Savage, 31-year-old Ronald Byrd, 30-year-old Haneef Palmer and 32-year-old Malik Palmer, according to 6ABC in Philadelphia. They face charges of conspiracy, robbery and theft of government money, among other charges the report says. 

    The suspects tried to convert “thousands of dimes” at cash machines in Maryland or at deposits in Philadelphia area banks, the report says. 

    Recall earlier this year we wrote about how the thieves made out with “hundreds of thousands of dollars” in dimes. After a discovery of the trailer was made back in April, police said at the time that roughly 2 million dimes were stolen. 

    The truck had $750,000 in dimes in it altogether, the original report said. Many were found strewn about in a Walmart parking lot where the trailer was parked. The dimes had been picked up at the Philadelphia Mint, but the driver of the truck went home to sleep before planning to drive the next day to Florida. 

    Capt. Jack Ryan of Northeast Detectives commented earlier this year: “This is common practice – to pick up a load going to Florida and go home for the night, get to sleep, and get on the road in the morning.”

    He didn’t comment on the driver’s decision to leave $750,000 in dimes in a trailer in the Walmart parking lot overnight, however.

    “They were trying to cross-load the dimes into other things. There are dimes all over the parking lot,” Ryan said of the heist. 

    One bystander astutely noted at the time: “I feel like if they try to go to the bank and cash it in, they’re going to get caught. They’ll be like, ‘Well, where did you get all of these dimes from?'”

    Tyler Durden
    Tue, 10/24/2023 – 21:45

  • The Profitable Destruction Of Americans' Health
    The Profitable Destruction Of Americans’ Health

    Authored by Charles Hugh Smith via OfTwoMinds blog,

    Who needs a healthy populace rich in well-being when you can have trillions in annual corporate profits?

    The destruction caused by decay is just as catastrophic as the destruction wrought by calamity. The difference is we don’t notice the decay until it’s too late. When a wood-frame house is knocked down by a hurricane, earthquake or bulldozer, we are stunned and mortified by the destruction. But when termites or dry-rot eat away the framing for years until the house collapses, no single event triggers a response: we set aside evidence of the eventual negative consequences and reckon we can deal with it later.

    The collapse of Americans’ health has proceeded in much the same fashion. According to Diabetes in 1964: A World Survey, the global rate of diagnosed diabetes in 1964 was estimated to be around 1% to 2%. In the US, 1% of the populace was diagnosed with diabetes (11 diagnosed cases per 1,000 people), and an estimated 8 cases per 1,000 were as yet undiagnosed.

    Recall that “Type 1 diabetes is typically found in children and makes up roughly 5% of all diabetes cases. Its cause is unknown. Type 2 diabetes makes up approximately 95% of diabetes cases and is more common in adults.” ( source)

    In other words, the vast majority of diabetes cases are caused by lifestyle factors such as diet, fitness and sociological / cultural changes rather than solely by genetics.

    Today, 10% of the American populace has been diagnosed with diabetes and another 3-4% or estimated to be undiagnosed. This is an astounding ten-fold increase in diagnosed cases. In raw numbers, there were 2 million diabetics in the US in 1964 when the population was 194 million, and today there are over 37 million diabetics in a population of 330 million.

    Today, the global rate of diabetes is around 10%, also roughly ten-fold the 1964 rate. Statistics vary, but Diabetes Rates by Country 2023 lists both the U.S. and China at an 11% rate of diabetes. (As noted, an additional percentage may have diabetes but have not yet been diagnosed.)

    The number of adult Americans who are prediabetic, i.e. at risk of developing diabetes as a result of metabolic disorders, is estimated to be 38%. So more than half of America’s adult population is diabetic or prediabetic.

    The estimated total of diabetics in the US is between 13% and 14%:

    We all know what causes metabolic disorders, prediabetes and Type 2 diabetes: being overweight / obese due to a nutrient-poor diet and low level of fitness. Statistically, 13% of Americans were considered obese in 1964 according to this article: US obesity rates have tripled over the last 60 years.

    But if you look at TV programs and news reels from the early 60s, most Americans looked like Dick Van Dyke and Mary Tyler Moore in 1964.

    The net result of lifestyle and sociological changes since 1964 is almost three-fourths of adult Americans are either overweight or obese, leaving slightly over one-fourth of the population being normal weight.

    A great many factors have been implicated in this staggering decline of health–food deserts, the need to work more hours, leaving fewer hours for meal prep, the relentless consolidation of farming, food and meat processing and distribution, and many others–but what we put in our mouths accounts for 70% of the causal factors. A study publish in Nature analyzed the varioue dietary deficiencies’ impact on the rising prevalence of diabetes: Incident type 2 diabetes attributable to suboptimal diet in 184 countries.

    “70.3% of the total, were estimated to be due to suboptimal intake of the 11 dietary factors. Excess intake of six harmful dietary factors jointly (refined rice and wheat, processed meats, unprocessed red meat, SSBs, potatoes, fruit juice) contributed a larger proportion of the total global diet-attributable burden (60.8%) than insufficient intake of five protective dietary factors (whole grains, yogurt, fruits, non-starchy vegetables, nuts and seeds) (39.2%).”

    In other words, consuming highly processed, low-nutrient, high sugar / fat / salt content junk food accounted for 60% of the negative consequences, and the other 40% were the result of inadequate consumption of healthy real (i.e. unprocessed) food. This aligns with the obvious cultural shifts that occurred from 1964 to the present:

    Most meals were prepared at home 60 years ago, fast-food was a rarity, eating out was a treat reserved for special occasions, snacks and sugary beverages were rare treats, cold cereals contained little or no added sugar, high fructose corn syrup was unknown, local grocery stores stocking real food were common and genetically modified crops were not yet in use. Dairies and meat production were still local rather than nationally centralized.

    It’s not as if people in 1964 were health fanatics. The typical diet was light on whole grains and heavy on processed meats like hot dogs and bologna, and “going to the gym” was only a thing for high school and college athletes. But food was more likely to be locally sourced, and snacks tended to be real food items such as apples or carrot sticks. The memories of the Depression were still sharp and “waste not, want not” was the zeitgeist.

    Going out to eat was a luxury generally viewed as a rare splurge, as it was obviously “a waste of money.” This value system made a brown-bag lunch for students and adults alike the common choice.

    Kids were encouraged (or ordered) to play outside. Many households limited the hours kids could watch TV, because it was obviously “a waste of time.”

    Now, children spend much of their waking hours on social media, gamimg and other screentime entertainment. Adults manage to log 7 or 8 hours in front of non-work-related screens as well. Addictions to social media, gaming, pornography, etc. are ubiquitous.

    As for food: fast food meals are now the norm for many, along with the purchase of sweet, calorie-rich drinks and salty-greasy snacks, highly processed foods that are designed to hijack the pleasure centers of the brain to the degree that they’re addictive: Study: Foods like ice cream, chips and candy are just as addictive as cigarettes or heroin.

    Eating out is widely viewed not as a luxury but as a common right. Meals prepared at home are often highly processed frozen or packaged foods loaded with salt, low-quality fat and sweeteners, and lacking fiber and other nutrients.

    Though millions of people watch elaborate cooking programs, a home-cooked meal made from scratch with real ingredients has become a relative rarity.

    Rather than eating real food, people consume highly processed junk food, starving themselves of the nutrition they need and deranging their bodies and minds. Advertising and marketing reduce the consuming of sustenance from a healthy enjoyment to an infantile obsession with salty-sugary-fatty mouthfeel: “it tastes so good!” So does real food, once we lose the addiction to highly processed junk food.

    The result is the decay of America’s health to the point of collapse.

    For this reason, in my view, “A healthy homecooked family meal is a revolutionary act.”

    Left unsaid in all the statistics and handwringing is the obvious truth: all this unhealthy junk food is immensely profitable. No competing power conquered us and forced us to destroy our health with addictive junk food and addictive tech platforms. The Martians didn’t land and enslave us. We bought the decay and reveled in it, and now look for solutions anywhere but the source of the decay: the elevation of corporate profits as the only metric of the nation’s “health” that matters.

    Making us ill is extremely profitable, and so is alleviating the symptoms of the resulting lifestyle diseases. Just watch a few hours of trash TV and count how many Big Pharma adverts you see, touting some costly medication to alleviate the chronic diseases directly attributable to the highly processed junk food that is #2 in adverts behind the Big Pharma ads.

    As the old saying put it: “They get you coming and going.” Eat this highly profitable junk food, become chronically ill, and then spend the rest of your life consuming highly profitable meds.

    Isn’t the entire point of having a Neocolonial Empire to improve the well-being of the home populace at the expense of the nations being exploited and pillaged? Instead, America’s Corporate Neocolonial Empire first pillaged the health of the home populace as a test audience, and then exported the addictive products overseas.

    Who needs a healthy populace rich in well-being when you can have trillions in annual corporate profits? Once the maximization of profits by any means available became the sole goal and measure of national prosperity, then generating illness and addiction became highly lucrative and reliable profit centers.

    This is the Neofeudalism and the Neocolonial-Financialization Model I’ve been discussing since 2012.

    Other links on obesity and diabetes:

    How do diabetes rates vary by country?
    China currently has 140.9 million people with diabetes, which is set to increase to 174.4 million by 2045. Experts estimate there are also 72.8 million people in China with undiagnosed diabetes.

    Obesity and Overweight (CDC)
    Percent of adults aged 20 and over with overweight, including obesity: 73.6% (2017-2018)

    National and State Diabetes Trends (CDC)

    Overweight & Obesity Statistics (niddk.nih.gov)

    New podcast: Leafbox Interview: Charles Hugh Smith (73 minutes, full transcript)

    *  *  *

    My new book is now available at a 10% discount ($8.95 ebook, $18 print): Self-Reliance in the 21st CenturyRead the first chapter for free (PDF)

    Become a $1/month patron of my work via patreon.com.

    Subscribe to my Substack for free

    Tyler Durden
    Tue, 10/24/2023 – 21:25

  • "Trump Has Never Let Us Down": Longtime DeSantis Ally Flips On Ron Over Jewish Issues
    “Trump Has Never Let Us Down”: Longtime DeSantis Ally Flips On Ron Over Jewish Issues

    Florida state Rep. Randy Fine (R), a longtime ally of Governor Ron DeSantis, has flipped his support to former President Donald Trump for the 2020 US election, citing Trump’s record on Israel, and slamming DeSantis for ‘doing nothing’ about Nazis who have allegedly invaded Florida, according to The Floridian.

    “Today, I am endorsing @realDonaldTrump,” Fine wrote on X. “The past 2 weeks have made me realize our choice as Jews is simple. We can vote for the Gov who says the right things, or we can vote for the President who actually does them. When it comes to action, Trump has never let us down,” he continued.

    In a Monday op-ed in the Washington Times with the headline: “Donald Trump has never let us down,” Fine writes that he was “jumped by a Nazi in Florida. On video. Two weeks ago.” 

    He goes on to say that DeSantis has “said almost nothing” after Nazis began showing up in public in Florida, assaulting a Rabbi, hanging banners which read “Gas the Jews” over freeway overpasses, and “beat up a Jew.”

    Our world changed forever on October 7. The Holocaust did not end in 1945; it just went into hibernation. Radical Islam is the spiritual successor to the Nazis.

    Words won’t save us.

    Only actions will.

    Donald Trump didn’t just talk about moving the Embassy. He did it.

    Donald Trump didn’t just talk about Israeli security. He green-lit them annexing the Golan.

    Donald Trump didn’t just talk about peace. He signed the Abraham Accords. He deserved a Nobel Peace Prize for it. -Randy Fine

    Fine also spoke with The Floridian about the Hamas attacks in Israel. He called for the expulsion of the pro-Palestinian “Squad” in Congress.

    They are more focused on these Arabs in Gaza than they are on American hostages that are held there. That is treason,” he continued.

    Fellow Florida State Representative Joe Gruters (R), who had previously accused Gov. DeSantis of intentionally line-item vetoing Sarasota County projects for his Trump endorsement, replied to Fine’s tweet, “Great decision, welcome to the team. @realDonaldTrump is who America needs to lead us now more than ever.”

    Fine closes his op-ed with: “There is no choice – we must return Donald Trump to the Oval Office. For Israel. For Jews. For America. And for the World.”

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

    Tyler Durden
    Tue, 10/24/2023 – 21:05

  • Chinese Digital Yuan CBDC Used For First Time To Settle Cross-Border Oil Deal
    Chinese Digital Yuan CBDC Used For First Time To Settle Cross-Border Oil Deal

    Authored by Derek Andersen via CoinTelegraph.com,

    The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19. 

    The transaction was a response to a call by the Shanghai Municipal Party Committee and Municipal Government to apply the Chinese central bank digital currency (CBDC), also referred to as the e-CNY, to international trade, the exchange said. It is “another major step forward” for the digital yuan, according to the state-controlled China Daily.

    The seller and the price in the transaction were not disclosed. For comparison, the price of the “OPEC basket” of oil from 13 producers was $95.72 per barrel on Oct. 19.

    The crude oil deal also marks an overall major step in the use of the yuan on the international market and in the global movement toward de-dollarization. In the first three quarters of 2023, the use of the yuan in cross-border settlements was up 35% year-on-year, reaching $1.39 trillion, China Daily reported. 

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

    The yuan was first used for a liquified natural gas (LNG) purchase on SHPGX in March when the French TotalEnergies agreed to sell LNG to the China National Offshore Oil Corporation (CNOOC). The second LNG deal in yuan occurred last week between CNOOC and French Engie. Those transactions did not involve the digital yuan.

    Also on Oct. 19, First Abu Dhabi Bank announced that it had signed an agreement on digital currency with the Bank of China, the state-owned commercial bank, at the third Belt and Road Forum for International Corporation, which had ended a day before. China and the United Arab Emirates, of which Abu Dhabi is part, are participants in the mBridge platform to support cross-border transactions with CBDC. MBridge intends to launch as a minimum viable product next year.

    Abu Dhabi signed an agreement with India in August to settle oil deals in rupees.

    Tyler Durden
    Tue, 10/24/2023 – 20:45

  • Regional Fed Surveys Show Prices Jumping As Business Outlooks Slump
    Regional Fed Surveys Show Prices Jumping As Business Outlooks Slump

    This morning’s headline October flash PMI data surprised everyone (to the upside) with both Manufacturing and Services jumping back above 50 (into expansion) despite hard data having been hammered during the month and numerous regional Fed surveys signaling quite the opposite.

    A few recent examples include:

    And now we have two more – signaling the exact opposite to S&P Global’s PMI from the Philadelphia and Richmond Feds.

    In the Richmond District, service sector firms grew more pessimistic about local business conditions as that index fell from −5 in September to −15 in October.

    The index for expected local business conditions also declined, from 4 in September to −22 in October.

    Additionally, the average growth in prices paid increased and respondents firms expect to increase spending in the next six months.

    Expectations indexes for future revenue and demand also decreased notably.

    So slower growth and higher prices – the exact opposite of S&P Global’s PMI data.

    The Philadelphia Fed Services survey was even uglier

    The prices paid index increased 5 points to 46.6 in October as almost 47% of the firms reported increases in prices paid (and worse still for margins, prices received fell4 points to 0.5)…

     New orders index declined 7 points this month to -16.1, undoing its increase from last month and registering its fifth consecutive negative reading as the sales/revenues index recorded its third consecutive decline.

    Finally, on balance, a larger share of firms expects a decrease in capital expenditures in 2024 than an increase.

    Let’s see what that all looks like…

    We’ve seen this kind of decoupling before… and it didn’t end well then.

    Tyler Durden
    Tue, 10/24/2023 – 20:25

  • "Ominous Implications": Turley Opines After Former Trump Lawyer Pleads Guilty, Flips In Georgia Case
    “Ominous Implications”: Turley Opines After Former Trump Lawyer Pleads Guilty, Flips In Georgia Case

    Authored by Jonathan Turley,

    The image most of us had of former Trump attorney Jenna Ellis was a remarkably cheerful mugshot after her arrest in the RICO case brought by Fulton County District Attorney Fani Willis.

    Ellis made a very different appearance today in state court pleaded guilty to intentionally interfering in the election process in the state of Georgia. While the impact of earlier pleas by figures like Sidney Powell is hard to judge at this stage, this plea has more ominous implications for the former president.

    Ellis offered a sobbing apology for her role in challenging the 2020 election and stated  that

    “as an attorney who is also a Christian, I take my responsibilities as a lawyer very seriously and I endeavor to be a person of sound moral and ethical character in all my dealings. … In the wake of the 2020 presidential election, I believed that challenging the results on behalf of President Trump should be pursued in a just and legal way. I endeavored to represent my client to the best of my ability…What I did not do, but I should, was make sure the facts that the other lawyers alleged to be true were in fact true. In the frenetic pace of attempting to raise challenges to the election in several states, including Georgia, I failed to do my due diligence.”

    The law in question deals with a person who “knowingly and willfully falsifies, conceals, or covers up by any trick, scheme, or device a material fact; makes a false, fictitious, or fraudulent statement or representation; or makes or uses any false writing or document, knowing the same to contain any false, fictitious, or fraudulent statement or entry, in any matter within the jurisdiction of any department or agency of state government or of the government of any county, city, or other political subdivision of” Georgia.

    According to documents entered in court, Ms. Ellis admitted that claims she made about the 2020 presidential election and Georgia were false, including allegations that 2,506 felons and 10,315 dead people voted in the election.

    The documents also said the allegation that workers at State Farm Arena ordered poll watchers and reporters to leave the tabulation area the night of the election and continued to operate after everyone left was false, even though all observers did leave and counting continued.

    As with the other former Trump counsel, Ellis will not face jail time and was charged with one charge of aiding and abetting false statements in writing.

    As part of the plea deal, Ellis will have to serve five years probation and pay $5,000 in restitution to the Georgia Secretary of State within 30 days.

    She will also have to complete 100 hours of community service, write an apology letter to voters in the state of Georgia and testify truthfully in future hearings regarding ongoing cases.

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

    As a reminder, The Epoch Times‘ Zachary Stieber points out that Ms. Ellis and 18 others, including President Trump, were indicted by a grand jury in Fulton County earlier this year under Georgia’s Racketeer Influenced and Corrupt Organizations (RICO) Act.

    Defendants made false statements and committed other crimes to further their objectives, including trying to persuade Georgia lawmakers to reject the electoral votes that were for then-candidate Joe Biden, according to the indictment.

    Ms. Ellis was charged in part for participating in a meeting with Pennsylvania legislators on Nov. 25, 2020. During the meeting, she asked the legislators to appoint electors for President Trump, even though Pennsylvania’s vote count ended with President Biden on top.

    Ms. Ellis was specifically charged with violating the RICO act and soliciting a violation of oath by a public officer.

    Those charges are both felonies and carry a combined prison term of up to 23 years.

    Ms. Ellis is not the first defendant to plead guilty.

    Sidney Powell, another lawyer, pleaded guilty to six misdemeanors on Oct. 19, several days before her trial was scheduled to start and after attempts to dismiss the charges failed.

    President Trump had said he hired Ms. Powell but, following the plea, said she never actually worked for him. President Trump’s campaign also said she was not a member of its legal team.

    Kenneth Chesebro, another lawyer, pleaded guilty to one felony the following day.

    Scott Hall, a bail bondsman, was the first defendant to enter a guilty plea. He pleaded guilty in September to five misdemeanor counts of conspiracy to commit intentional interference with the performance of election duties.

    All defendants saw charges dropped as part of their plea deals, and will avoid time in prison if they follow the parameters of the agreements.

    Others charged in the indictment include former White House chief of staff Mark Meadows, former President Trump attorney Rudy Giuliani, and former Georgia Republican Party Chairman David Shafer.

    The charges were approved by a grand jury. They were presented by Fulton County District Attorney Fani Willis, a Democrat.

    With that background in mind, Jonathan Turley reminds that Ellis’ is the type of plea that tends to concentrate the mind. 

    Powell pleaded to relatively minor charges involving unauthorized access to voting machines and areas. Those charges tend to be easy to prove. It is not clear if she would tie Trump to a conspiracy or racketeering.

    Ellis pleaded guilty to false false statements that could conceivably implicate the President if she claims that he was aware of the falsity and facilitated the crime.

    Moreover, Ellis recently broke with Trump.

    She called him a “malignant narcissist” who cannot admit mistakes – and said that she would never vote for him again.

    The question is now whether Ellis will implicate Trump in this conspiracy.

    What is clear is that her plea will hold particularly interest of Special Counsel Jack Smith in his parallel federal prosecution.

    Tyler Durden
    Tue, 10/24/2023 – 20:05

  • Jealous? NBC Knocks 7 'Influential Accounts' On X Over Israel-Hamas Coverage
    Jealous? NBC Knocks 7 ‘Influential Accounts’ On X Over Israel-Hamas Coverage

    NBC News ‘gotcha’ reporter Brandy Zadrozny’s most recent screed can only be interpreted as sheer jealousy, after the outlet reports that just seven influential X accounts have ‘dominated the flow of news’ surrounding the Israel-Hamas war and have been ‘easily outpacing established mainstream news outlets.’

    Citing a Friday report by the University of Washington’s Center for an Informed Public, as well as a ‘separate analysis’ by the partisan hacks at NewsGuard, Zadrozny writes that during a three-day period starting with the Oct. 7 Hamas attack on Israel, the most popular posts regarding the crisis revealed that news on the platform is “faster, more disorienting, and potentially more shaped by Musk himself.”

    We should mention that the report doesn’t refute anything posted by said ‘influential’ accounts. The entire report is simply bitching over their popularity, and the alleged (yet undefined) “change for the worse” on the platform.

    The new work adds data to a swell of recent anecdotal accounts from researchers, academics and journalists who have noted a change for the worse in the way news and information moves and is incentivized on Twitter over the last year, especially since the start of the Israel-Hamas crisis. A separate analysis published Thursday by NewsGuard, a nonpartisan company that tracks false narratives online, found verified accounts were responsible for nearly three-fourths of the most viral misinformation about the Israel-Hamas war on Twitter. -NBC News

    At its core what we’re looking at here is a different vision of what news is,” said Mike Caulfield, a research scientist at the University of Washington and lead author of the new report. “It’s fast, it’s unvetted, and it’s very often unsourced. And there’s every indication that the shift is not accidental and that it’s part of a vision of what news is going to be on X.”

    “The people who are engaged, they probably buy into this vision, but we have doubts that it serves the public well.”

    Again, zero examples.

    Caulfield and crew have branded the accounts “new elites” – who have exercised “disproportionate power and influence” over the Israel / Hamas news. Those accounts include:

    Visegrád 24, a news aggregator run by a right-wing Polish social media marketing agency; Mario Nawfal, a Twitter celebrity known for hosting live audio chats focused on cryptocurrency who was the focus of an NBC News investigation; @spectatorindex, an account self-described as “News, media and data from around the globe,” reportedly operated by an Australian-Muslim medical doctor; @CollinRugg, a co-founder of the conservative site Trending Politics; and @CensoredMen, a 10-month-old account that before pivoting to the Israel-Hamas war primarily posted in support of the misogynist internet influencer Andrew Tate. 

    Of course, here’s what it really boils down to:

    “Tweets about the Israel-Hamas war from these accounts outperformed popular news accounts belonging to CNN, The New York Times, the BBC and Reuters, despite having far fewer followers, according to the research (NBC News was not included),” Zadrozny writes, adding that researchers found that tweets about the Israel-Hamas war from ‘approved’ news sources garnered 112 million views over 298 tweets, while the seven ‘influential’ accounts drew 1.6 billion views across 1,834 tweets.

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

    Tyler Durden
    Tue, 10/24/2023 – 19:45

  • "Unconscionable": Republicans Press Pentagon Over American-Made Weapons In Hamas's Hands
    “Unconscionable”: Republicans Press Pentagon Over American-Made Weapons In Hamas’s Hands

    Authored by Tom Ozimek via The Epoch Times (emphasis ours),

    Citing reports that advanced U.S.-made firearms have ended up in the possession of the Hamas terrorist group in Gaza, several House Oversight Committee Republicans are demanding answers from the Pentagon about what’s being done to make sure American-made weapons don’t end up in the wrong hands.

    The Committee has seen reports that U.S.-manufactured weapons are being redistributed and resold in secondary markets to terrorist organizations, including Hamas,” wrote House Oversight Committee Chairman James Comer (R-Ky.) and Rep. Marjorie Taylor Greene (R-Ga.) in an Oct. 23 letter to Defense Secretary Lloyd Austin.

    A young boy holds a U.S.-made M4A1 rifle during a rally of Hamas supporters, at the Jabalia refugee camp, Gaza Strip, on Dec. 12, 2014. (Mahmud Hams/AFP/Getty Images)

    Mr. Comer and Ms. Greene cited a series of media reports indicating that American-made weapons were being diverted and ending up in the hands of terrorists.

    One source of these U.S.-made weapons is reportedly the roughly $7 billion stockpile left behind in the botched Afghanistan withdrawal. Another is related to the arms that the United States is providing to Ukraine amid its war with Russia but that are being diverted to the Middle East by various actors, including gun-smuggling criminal groups.

    The potential possession of U.S. weapons by terrorists is alarming in light of the terrorist group’s recent horrific attack on Israel,” the pair of lawmakers wrote, referring to the Oct. 7 assault by Hamas operatives that killed about 1,500 Israelis, mostly civilians—many of them in barbaric fashion.

    In their letter, they demanded a staff briefing from the Pentagon by the end of October on what procedures the Department of Defense (DOD) has in place “for preventing, addressing, and mitigating weapon diversion abroad.”

    The DOD didn’t respond to a request for comment by press time.

    A Ukrainian serviceman checks his U.S-made M4A1 carbine after cleaning it at a base in the Donetsk region, Ukraine, on Feb. 23, 2023. (Yasuyoshi Chima/AFP/Getty Images)

    ‘Arsenal of Anarchy’

    In their letter, Mr. Comer and Ms. Greene cited a number of media reports indicating that American-made weapons were ending up in the hands of those who may wish to use them to harm the United States and its allies.

    One of these is a June 15 report by Newsweek that cites a high-ranking Israel Defense Forces (IDF) commander as saying that the Israeli military was concerned that U.S.-made weapons provided to Ukraine were being diverted and ending up in the hands of Israel’s enemies in the Middle East.

    We are very worried that some of these capabilities are going to fall to Hezbollah and Hamas’ hands,” the IDF commander told the publication.

    Since the Russia–Ukraine conflict erupted in February 2022, the United States has sent more than $46 billion in military assistance to Kyiv, sparking worries that some of that massive flow of arms was being diverted and ending up in other regions.

    While a report in March from the Global Initiative Against Transnational Organized Crime found that “there is currently no substantial outflow of weapons from the Ukrainian conflict zone,” it warned of the prospect of serious proliferation.

    The report’s authors warned in a statement that when the war ends, “Ukraine’s battlefields could and will become the new arsenal of anarchy, arming everyone from insurgents in Africa to gangsters in the streets of Europe.”

    While it’s impossible to tell without further investigation where the weapons are coming from, it’s been alleged that some U.S.-made weapons are finding their way to Gaza and into the hands of Hamas.

    In their letter, the GOP lawmakers said that “recently released photos show Hamas terrorists allegedly holding what appear to be H4A1 Carbines,” a type of weapon that they point out was specially designed for U.S. Special Operations Forces.

    “This would not be the first time our military service members and allies have been targeted by terrorist organizations misappropriating American-made weapons,” the lawmakers wrote, citing the massive $7 billion arsenal that ended up in the hands of the Taliban.

    A Ukrainian serviceman checks his U.S-made M4A1 carbine after cleaning it at a base in the Donetsk region, Ukraine, on Feb. 23, 2023. (Yasuyoshi Chima/AFP/Getty Images)

    Taliban Seize $7 Billion Worth of US Weapons and Equipment

    After U.S. forces withdrew from Afghanistan in the summer of 2021, they left behind billions of dollars of American-made weapons and equipment.

    A Pentagon watchdog reported in August 2022 that “U.S.-funded equipment valued at $7.12 billion was in the inventory of the former Afghan government when it collapsed, much of which has since been seized by the Taliban.”

    The report, which was confirmed by the DOD, indicated that the equipment that had fallen into Taliban hands included military aircraft, ground vehicles, weapons, and other military equipment.

    The items that ended up in Taliban hands included large equipment like Black Hawk helicopters and Humvees, as well as small but sophisticated arms like M16 assault rifles and M4 carbines.

    “We have already seen Taliban fighters armed with U.S.-made weapons they seized from the Afghan forces. This poses a significant threat to the United States and our allies,” Rep. Michael McCaul (R-Texas), the top Republican on the House Foreign Affairs Committee, told Reuters in an email last year.

    Lt. Col. Emron Musavi, an Indian army spokesperson, told CNBC in an email last year that weapons left behind by U.S. forces during the withdrawal from Afghanistan were making their way into other conflict zones, including in India-controlled Kashmir, which some terror groups are trying to annex for Pakistan.

    “It can be safely assumed that they have access to the weapons left behind,” he told the outlet, amid reports that operatives from Jaish-e-Mohammad and Lashkar-e-Taiba, two Pakistan-based groups designated by the United States as terrorist organizations, had been spotted with U.S.-made arms like M4s and M16s.

    Military vehicles transferred by the U.S. to the Afghan National Army in February 2021. (Afghanistan Ministry of Defense/via Reuters)

    Taliban stand guard at an entrance gate outside the Interior Ministry in Kabul, on Aug. 17, 2021. (Javed Tanveer/AFP via Getty Images)

    Demands for Oversight

    The letter from Mr. Comer and Ms. Greene is not the first time Republicans have pressed the Pentagon on U.S.-made weapons falling into the wrong hands.

    Shortly after the U.S. withdrawal from Afghanistan, several Republican senators demanded the DOD provide full accounting over the weapons and equipment that were captured by the Taliban.

    It is unconscionable that high-tech military equipment paid for by U.S. taxpayers has fallen into the hands of the Taliban and their terrorist allies,” the Republicans added.

    “Securing U.S. assets should have been among the top priorities for the U.S. Department of Defense prior to announcing the withdrawal from Afghanistan.”

    Tyler Durden
    Tue, 10/24/2023 – 19:25

  • Pentagon Belatedly Reveals Two Dozen US Personnel Were Wounded In Spate Of Drone Attacks In Iraq, Syria
    Pentagon Belatedly Reveals Two Dozen US Personnel Were Wounded In Spate Of Drone Attacks In Iraq, Syria

    Update(1910ET): The Pentagon revealed in a late Tuesday statement that in just the past week, US and coalition forces have been attacked at least ten times in Iraq, as well as three times in Syria “via a mix of one way attack drones and rockets,” according to Brig. Gen. Pat Ryder, speaking to NBC.

    But the real bombshell development, which Biden’s defense officials have apparently sat on for several days, is that some 24 US personnel were wounded in the attacks. According to the NBC statement:

    Two dozen American military personnel were wounded last week in a series of drone attacks at American bases in Iraq and Syria, U.S. Central Command told NBC News on Tuesday.

    The Pentagon confirmed the attacks last week, but the number of U.S. casualties has not been previously disclosed.

    “Twenty American personnel sustained minor injuries on Oct. 18 when at least two one-way attack drones targeted al-Tanf military base in southern Syria, CENTCOM said,” the report continues. 

    It appears all the injuries were deemed minor, given Gen. Ryder described that all personnel returned to duty after being evaluated and threated, and there was no significant damage to base installations. However, in Iraq, “The U.S. shot down the one-way attack drones, but the debris from one destroyed a hanger that contained small aircraft, CENTCOM said.”

    Illustrative: Iranian Army drone training exercise, via Reuters

    The defense official said that amid the attacks there was a contractor that suffered cardiac arrest and died while sheltering in place, but the Pentagon isn’t necessarily considering the casualty to be the direct result of the assault. 

    The Pentagon may have concealed the information until now not only to properly account for all the instances and wounded personnel, but possibly to avoid escalating tensions by releasing the news. The Biden administration has vowed to respond ‘decisively’ if Americans in the region come under attack by Iran. 

    The militias operating in Iraq and Syria, believed to be behind the uptick in attacks, are widely viewed by Washington as being supported from Tehran. 

    * * *

    Update(1550ET): It’s never a good sign when the United States says it “doesn’t want war” – at a moment a long known geopolitical flashpoint region stands on the brink. Secretary of State Antony Blinken on Tuesday delivered a stern warning to Iran before a UN Security council meeting, saying the US is prepared to respond “decisively” if Tehran or its proxies launch attacks on Americans in the Middle East.

    Not only does the Pentagon still have thousands of troops and assets in Iraq, long under the domination of Shia paramilitary influence, but it has up to a thousand or so troops occupying broad oil and gas regions of eastern Syria. Missile and drone attacks on Pentagon outposts in Syria and Iraq have been rising in the last days. But the real concern is on Israel’s northern border, where Hezbollah has launched multiple guided missile and anti-tank attacks on Israel border posts, including on Tuesday. 

    “The United States does not seek conflict with Iran,” Blinken told the UNSC “We do not want this war to widen. But if Iran or its proxies attack US personnel anywhere, make no mistake: We will defend our people, we will defend our security, swiftly and decisively.” Russia’s President Putin, who since 2015 has stationed major assets in neighboring Syria, just the day prior blamed Washington for stoking “escalation” in the Middle East by moving two US carrier strike groups into the region. 

    There are building fears that Iran-backed Hezbollah would launch an all-out war on Israel if the IDF moves in full force into Gaza. The only thing which apparently has stalled these plans is the slow release (so far up to four hostages) of Israeli and American captives by Hamas. Domestic political pressure is also building against the Netanyahu government, led by families who see in Qatari mediated efforts hope that loved ones will be released. Hamas has demanded that fuel be transferred into Gaza via the Rafah border, but Israel has countered that all hostages must be freed first. 

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

    “We call on all member states to send a firm, united message to any state or non-state actor that is considering opening another front in this conflict against Israel or who may target Israel’s partners, including the United States: don’t. Don’t throw fuel on the fire,” Blinken said. But the historical pattern has been that when the US moves such huge naval power into the Mediterranean and Mideast waters, it plans to do something with it.

    Jordan (and others), have at the same time warned the UN assembly that there’s “real danger” of a bigger war which draws in superpowers like Russia, or even potentially China, which also has interests and military assets in the region. 

    “We’re all doing everything we can to stop it. There’s the threat of this expanding into the West Bank, into Lebanon, into other fronts. None of us want that, we’re all working against that,” Jordan’s Foreign Minister Ayman Safadi told the UNSC. 

    * * * 

    French President Emmanuel Macron has traveled to Israel Tuesday, the latest Western leader to do so, where he’s meeting with Prime Minister Benjamin Netanyahu and other top officials in what’s scheduled as a two-day trip. He’s met with families of the Oct. 7 Hamas attack as well.

    He arrived in Tel Aviv just after Gaza’s health ministry announced that deaths from Israeli airstrikes have soared past 5,000 killed. Just in the last 24 hours, officials said that 704 Palestinians have been killed. Additionally the ministry has warned that hospitals and medical centers are shutting down at rapid pace, with lack of resources including fuel and electricity. 

    Macron, while meeting Netanyahu in Jerusalem on Tuesday, conveyed that the release of the over 220 hostages held in Gaza should be the “first objective” of Israel and its allies. Macron appears to be backing Biden’s appeal for Israel to stall the ground invasion in order to provide more time for negotiations. So far, four women have been released from Hamas captivity, including two Americans from Chicago. 

    The Tuesday meeting, AFP via Getty Images

    But Macron has also made headlines in proposing that France help provide a military solution. He has offered that France’s counter-ISIS forces be utilized for anti-Hamas action. He said his country stands ready “to beef up what we are doing in the coalition against ISIS. We are available to include Hamas in the coalition against ISIS depending on what Israel will ask us to deliver.”

    Macron said at a press conference alongside Netanyahu that terrorism is “our common enemy”. Referencing the Islamic State, he explained, “France is ready for the international coalition against Daesh in which we are taking part for operations in Iraq and Syria to also fight against Hamas.” 

    Shortly after Macron’s proposal grabbed international headlines, an Elysee Palace official clarified that “Not every country is fighting on the ground” and that “Much will depend on conversations we have with our allies.” The official stressed that Paris will still seek a “more crucial, more decisive peace process,” and added:

    “If you want to fight effectively and if you want to have everyone with you, you have to offer a political perspective,” the official continues. “We need to know altogether why we are fighting.”

    “The cause that Israel is fighting for is our cause as well.”

    …France wants to “consolidate the perspective of a ceasefire. I know it is very delicate to discuss. But we need again to know where we are going to have the instruments available that can bring back peace and stability.”

    Importantly he stressed that in Jerusalem, Macron asked PM Netanyahu for “clarity about the endgame, the modalities with which you operate, the conditions which you create, your political motivation.”

    France had previously confirmed losing 30 of its nationals during the Oct.7 terror assault, nine of which are still missing – presumably in captivity in Gaza.

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

    The question of “clarity” regarding Israel’s goals and strategy is also high on the US administration’s agenda. A Times of Israel report this week, commenting on what US officials told The NY Times, issued the following blunt words: “The Biden administration is reportedly concerned that Israel lacks achievable military goals for its operations in Gaza, leading US officials to believe that the IDF is not yet ready for a ground incursion.”

    Macron’s visit, during which time he’s seeking “clarity” on objectives, will only heighten this pressure on Netanyahu to convey a clear plan and exit strategy. The fear also is that Israel’s military could get bogged down in a costly Gaza fight, leading to escalation and quagmire, including in the north with Hezbollah.

    Tyler Durden
    Tue, 10/24/2023 – 19:10

  • With World Focused On Israel, WaPo Boasts CIA Is Behind Brazen Assassinations Of Russians
    With World Focused On Israel, WaPo Boasts CIA Is Behind Brazen Assassinations Of Russians

    At a moment the globe’s attention is by and large completely focused on events in Gaza, The Washington Post has this week published a bombshell report which vindicates Moscow’s worst fears. Up to now, any pundit daring to write that Putin’s accusations that the West has for years backed a covert campaign to destabilize Russia while stoking the 2014 (and after) civil war in Donbass, was smeared as a ‘pro-Kremlin propagandist’. 

    But now, the D.C. establishment’s premier newspaper is openly admitting that the CIA is actively running covert ops inside Russia, which has included the killing of journalist and geopolitical commentator Darya Dugina, the daughter of Alexaner Dugin. Another “conspiracy theory” has been belatedly admitted as conspiracy fact.

    The report stunningly documents of this “shadow war” that, “The missions have involved elite teams of Ukrainian operatives drawn from directorates that were formed, trained, and equipped in close partnership with the CIA, according to current and former Ukrainian and US officials. Since 2015, the CIA has spent tens of millions of dollars to transform Ukraine’s Soviet-formed services into potent allies against Moscow, officials said.”

    Long after independent media had asserted the deep, years-long involvement of US and allied intelligence in creating the conditions for a major Russia-Ukraine war, which was launched in Feb. of 2022 (and those same indy media voices were dismissed by the MSM for it), it seems unnamed US officials are now openly boasting about assisting with brazen assassinations to the Washington Post:

    The cluttered car carrying a mother and her 12-year-old daughter seemed barely worth the attention of Russian security officials as it approached a border checkpoint. But the least conspicuous piece of luggage — a crate for a cat — was part of an elaborate, lethal plot. Ukrainian operatives had installed a hidden compartment in the pet carrier, according to security officials with knowledge of the operation, and used it to conceal components of a bomb.

    Four weeks later, the device detonated just outside Moscow in an SUV being driven by the daughter of a Russian nationalist who had urged his country to “kill, kill, kill” Ukrainians, an explosion signaling that the heart of Russia would not be spared the carnage of war.

    The operation was orchestrated by Ukraine’s domestic security service, the SBU, according to officials who provided details, including the use of the pet crate, that have not been previously disclosed. 

    At every turn in the very revealing WaPo piece, US officials emphasize that covert CIA and allied intelligence operations aimed at Moscow have been a “reality” going back many years.

    “In reality, they represent capabilities that Ukraine’s spy agencies have developed over nearly a decade — since Russia first seized Ukrainian territory in 2014 — a period during which the services also forged deep new bonds with the CIA,” the report continues. 

    Not only did US intel officials tell the Post that the CIA has a significant presence in Ukraine, and particularly the capital, to this day – but the agency has provided Kiev with advanced surveillance systems and has even guided the formation of a new SBU (Security Service of Ukraine) unit called the “Fifth Directorate”

    Ukraine’s military intelligence has also received significant support. “GUR was our little baby. We gave them all new equipment and training,” a former US intelligence official told the Post.

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

    Darya Dugina’s killing was one among dozens of high profile killings and sabotage bombings carried out by Ukrainian intelligence – with the supporting help of US counterparts – which has also included two large attacks on the Kerch Strait bridge. 

    However, as expected the sources speaking to the Post tried to put some distance between the CIA and direct involvement in the assassinations. The officials claim the CIA only served a support role, or what amounts to “bolstering those services’ abilities to gather intelligence on a dangerous adversary.” Of course, the Kremlin is not going to see things this way, nor would any country coming within the CIA’s crosshairs.

    Tyler Durden
    Tue, 10/24/2023 – 19:05

  • Cornell Prof Who Called Hamas Attacks "Exhilarating" Takes Leave-Of-Absence
    Cornell Prof Who Called Hamas Attacks “Exhilarating” Takes Leave-Of-Absence

    Authored by Maggie Kelly via The College Fix,

    A Cornell University professor who spoke positively of the Hamas terror attacks on Israel has taken a leave of absence from the university.

    History Professor Russell Rickford called the group’s actions “exhilarating” on October 15 at a rally off-campus in Ithaca, N.Y., according to video obtained by The College Fix.

    According to an email acquired by the Cornell Review, another professor took over Rickford’s survey course on post-Civil War African American history.

    History Professor Tamika Nunley sent an email to the class Friday, writing that “Professor Rickford will be taking a leave of absence” and she “will assume teaching responsibilities for this course for the remainder of the semester,” the conservative campus paper reported.

    Cornell media relations confirmed Rickford “has requested and received approval to take a leave of absence from the university,” according to the Review.

    In his speech to the crowd on October 15, Rickford said that “Hamas has shifted the balance of power.”

    Rickford added that he abhors the targeting of children and civilians, yet added “but we are able to breathe — for the first time in years.”

    “It was exhilarating,” he said. “It was exhilarating, it was energizing.”

    The professor’s comments were met with cheers of “Palestine will be free from the river to the sea!”

    In a statement on October 17 signed by President Martha Pollack and Board of Trustees Chairman Kraig Kayser, Cornell condemned Rickford’s rhetoric.

    “We learned yesterday of comments that Professor Russell Rickford made over the weekend at an off-campus rally where he described the Hamas terrorist attacks as ‘exhilarating,’” Pollack and and Kayser wrote.

    “This is a reprehensible comment that demonstrates no regard whatsoever for humanity.”

    “The university is taking this incident seriously and is currently reviewing it consistent with our procedures,” they continued.

    petition demanding Cornell fire Professor Rickford, posted to Change.org on October 16, garnered more than 11,600 signatures as of Monday.

    In a letter published in The Cornell Daily Sun on October 18, Rickford apologized for his “horrible choice of words.”

    “I recognize that some of the language I used was reprehensible and did not reflect my values,” he wrote. “As I said in the speech, I abhor violence and the violent targeting of civilians.”

    “I want to make it clear that I unequivocally oppose and denounce racism, anti-semitism, Islamophobia, militarism, fundamentalism and all systems that dehumanize, divide and oppress people,” he continued.

    Tyler Durden
    Tue, 10/24/2023 – 18:45

  • Awkward: DC Mayor U-Turns 'Defund Police' With New Crime Bill After Murder Chaos Spreads
    Awkward: DC Mayor U-Turns ‘Defund Police’ With New Crime Bill After Murder Chaos Spreads

    How it started. 

    How it’s going? 

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

    Washington, DC, Mayor Muriel Bowser will finally enforce ‘law and order’ or some variant after her disastrous progressive ‘defund the police’ policies have transformed the nation’s capital into a crime-ridden hellhole. 

    On Monday, Bowser revealed a new anti-crime bill, the Addressing Crime Trends (ACT) Now Act, which seeks to end out-of-control retail theft, open-air drug markets, surge in violent crime, and slap criminals with additional charges for wearing masks. 

    “Metropolitan Police Department continues to be a leader in fair and constitutional policing across this nation. They continue to work every day to have and keep the trust of our city. And this legislation won’t change that. It will, however, support the department in dealing with some of the negative consequences of the Comprehensive Police Adjustment and Injustice Amendment Act. Some of the changes that were made just don’t match the daily practice of safe and effective policing,” Bowser said while revealing ACT. 

    However, officials told Bloomberg that the ACT’s goal is not to entirely reverse the DC Council’s progressive priorities but to dial back some of the radical reforms. The DC Council is expected to vote on the proposed legislation soon.  

    This year, the nation’s capital has recorded a surge in violent crimes: Homicides hit the highest level in two decades in the first six months, and carjackings are out of control. Several lawmakers and staffers have been robbed

    DC’s U-turn on failed progressive policies is yet another metro area that is being forced to restore law and order. San Francisco had to reverse course a few months ago. 

    Meanwhile, Democrats take zero accountability for their disastrous progressive policies. And so be it. The exodus out of cities by law-abiding citizens and companies only leads to a revival of suburbia. Let the cities implode on themselves as fiscal budgets are set to be strained. NYC is learning through budget cuts. 

    Tyler Durden
    Tue, 10/24/2023 – 18:25

  • "There Could Already Be A Cell In The US Planning The Next Terrorist Attack": Fmr. Border Commissioner
    “There Could Already Be A Cell In The US Planning The Next Terrorist Attack”: Fmr. Border Commissioner

    Authored by Autumn Spredemann via The Epoch Times (emphasis ours),

    Hamas’s terror attack on Israel is having ripple effects around the world, and the porous U.S. borders are again in the spotlight.

    “The same terrorists that just carried out this horrific attack in Israel—their hatred and their unwavering commitment … to do harm to the United States, is alive and well,” Mark Morgan, who served as acting commissioner of U.S. Customs and Border Protection during the Trump administration, told The Epoch Times.

    Nobody in their right mind can say that our border is secure.”

    (Illustration by The Epoch Times, Shutterstock)

    There’s a real concern that terrorists have already crossed the U.S. border, particularly within the group of more than 1.6 million illegal immigrants who evaded Border Patrol upon entry and are unknown to officials, Mr. Morgan said.

    In the past 11 months, 151 people on the terror watchlist have been arrested by Border Patrol after crossing illegally, while tens of thousands of other “special interest aliens” have entered and been released, he said. “Special interest” means that they hail from countries with direct ties to state-sponsored terrorist groups, including Yemen, Iran, Lebanon, Egypt, and Pakistan.

    Another terror attack inside the United States like the 2013 Boston bombing or the 2015 San Bernardino, California, mass shooting and attempted bombing, is imminent, Mr. Morgan warned.

    “It’s coming. It’s coming. No one can predict, but what I will say is, there could already be a cell in the United States planning the next terrorist attack, and we would have no idea,” he said. “That’s a fair statement; that’s not hyperbolic.”

    Terror concerns in the United States are escalating, especially as thousands of demonstrators have taken to the streets around the country.

    FBI Director Chris Wray, in a speech to the International Association of Chiefs of Police in San Diego on Oct. 14, encouraged law enforcement officers to stay vigilant.

    You’re often the first to see the signs that someone may be mobilizing to violence,” he said.

    “In this heightened environment, there’s no question we’re seeing an increase in reported threats, and we’ve got to be on the lookout, especially for lone actors who may take inspiration from recent events to commit violence of their own.”

    Meanwhile, the FBI issued a statement on Oct. 9, saying that it doesn’t have “specific and credible intelligence indicating a threat to the United States stemming from the Hamas attacks.”

    The lack of intelligence may not mean a lot, because the attack on Israel showed a “colossal intelligence failure,” Mr. Morgan, who also served as an FBI agent for 20 years, said.

    He said that a terror event such as Hamas’s attack that killed 1,400 Israelis, including children, on Oct. 7 can serve as a trigger event.

    We have people in our own country that are actually supporting Hamas, supporting the actions of babies being decapitated, of being burned alive, of women being savagely raped and videotaped,” Mr. Morgan said.

    A child’s bed stained with blood is among the damage caused by Hamas terrorists after they attacked Kibbutz Be’eri, Israel, on Oct. 20, 2023. (Dima Vazinovich/Middle East Images/AFP via Getty Images)

    “When you have this deep-rooted, irrational ideology, to be inspired to move to radicalization, then action can be very quick. Generally, it takes an event—and we have that now.”

    Hamas sympathizers brandishing Palestinian flags stood outside of the White House on Oct. 14 chanting “Free Palestine.” Some demonstrators wore head and face coverings commonly associated with jihadist groups.

    National security lawyer and regional analyst Irina Tsukerman said much the same about the threat that Hamas agents pose to the United States.

    There is significant pro-Hamas support in the United States already, both among leftist radicals and apologists in academia, and Palestinian activists and their allies, such as the crowds rallying with Hamas in various big cities around the United States in the past few days,” she told The Epoch Times.

    Ms. Tsukerman said she disagrees with the FBI’s Oct. 9 statement that suggests there’s no current specific threat to the United States.

    “The FBI is wrong. Khaled Meshaal called for his supporters to attack Western and other targets. … That could well include the United States or at least Jewish and Israeli targets in the United States,” she said.

    Mr. Meshaal is the former chief of Hamas. In a cryptic recording sent to international media outlets, initially reported by Reuters on Oct. 11, the terrorist commander said, “To all scholars who teach jihad … to all who teach and learn, this is a moment for the application [of theories].”

    A man shouts slogans while holding a Quran, the holy book of Islam, in his hand during a rally to support Palestinians in Gaza, near the White House on Oct. 14, 2023. (Ali Khaligh/Middle East Images/AFP via Getty Images)

    On Oct. 8, an Iran proxy terrorist group called Kata’ib Sayyid al-Shuhada (KSS) warned the United States against getting involved in the conflict between Israel and Hamas.

    “Palestine is not Ukraine,” the terror group stated.

    “Any direct American entrance into the conflict for the crumbling entity [Israel] will make all American positions in the region legitimate targets.”

    The fanatical group is one of many through which Iran pushes its political agenda in the region. Another one of these is Hezbollah in Lebanon, which is reportedly holding an Israeli captive amid the newest conflict with Hamas.

    Like Hamas and KSS, Hezbollah is an Iranian-funded Islamic terrorist group. In 2020, the U.S. State Department stated that Iran provides $100 million in annual aid to Hamas and another $700 million to Hezbollah.

    However, while most of these organizations’ actions are limited to the Middle East, Hezbollah has terrorist cells operating in the Americas.

    Wave of Mobilization

    In Latin America, Hezbollah has quietly been putting down roots for decades, and the U.S. government is aware of it.

    “It is important to note that the relationship Hezbollah has developed with criminal and terrorist groups in Latin America has escalated from one of mutual accommodation and benefit in the spheres of money laundering, contraband, and financing to more direct and deadly forms of collaboration,” a 2012 U.S. Subcommittee on Counterterrorism and Intelligence report noted.

    On Sept. 12, the U.S. Department of Treasury enacted sanctions on three people associated with Hezbollah’s illicit financial activities in Latin America.

    Read more here…

    Tyler Durden
    Tue, 10/24/2023 – 18:05

  • China Kicks Fiscal Stimulus Into Overdrive With Deficit-Busting 1 Trillion Yuan In New Debt
    China Kicks Fiscal Stimulus Into Overdrive With Deficit-Busting 1 Trillion Yuan In New Debt

    In a fiscal year when the US just raked up a $2 trillion deficit…

    … despite GDP “growing” at a 5.4% pace, according to the Joe Biden Department of Goalseeking Data Higher Before It Is Revised Lower Next Month Atlanta Fed GDPNow tracker, China has decided that it has enough enough of pretending that fiscal modesty and austerity are the way to go – after all there is a global superpower race going on – and despite sporting a record 300% debt to GDP

    … today China took the first official step to a powerful fiscal stimulus when China’s legislature announced it would issue 1 trillion yuan ($137 billion) of special treasury bonds during the fourth quarter, expanding budgeted fiscal deficit rates to around 3.8% for the year, well above the 3% set in March which the government has generally considered a red-line “limit” for the nation.

    “Relevant authorities should make preparations for the sovereign bond issuance and projects in an active and orderly manner to ensure every penny is managed and used appropriately,” said Zhao Leji, chairman of the Standing Committee.

    The funds raised through government bonds will all be allocated to local regions, via the mechanism of transfer payment, according to the plan approved by the country’s top legislature on Tuesday. The finance ministry said that the funds raised will be mostly used in eight areas including reconstruction after disaster, flood prevention and management projects, and natural disaster emergency response capacity improvement projects.

    The ministry also said it will timely launch the bond issuance work to ensure completion of the issuance on schedule. It will also ensure smooth transfer payment work and strengthen regulation so that the funds will be used as planned, the ministry said.

    According to Bloomberg, China has rarely adjusted the budget mid-year, having previously done so in periods including 2008, in the aftermath of the Sichuan earthquake and in the wake of the Asian financial crisis in the late 1990s.

    While around 500 billion yuan is planned to be utilized within the year, and the remaining half trillion yuan will be used next year, this is just the start because one you start the fiscal stimulus route, you don’t go back… especially when your youth unemployment is a record high 21%… and so high it is no longer being reported by Beijing.

    “The additional fiscal support approved today is the intervention we had been expecting and that was needed to prevent an abrupt fiscal tightening in China in the closing weeks of the year,” said Mark Williams, chief Asia economist at Capital Economics Ltd.

    The budget changes came during a flurry of announcements from the Standing Committee of the National People’s Congress, the Communist Party-controlled parliament that oversees government borrowing.

    The decision to boost China’s growth comes at a time when China GDP has dipped below 5%, while the Atlanta Fed GDPNow tracker has the US economy growing at a red hot 5.4% in Q3.

    The legislature on Tuesday wrapped a days-long meeting where, as noted earlier, it also ousted Li Shangfu as defense minister two months after he disappeared from public view, and stripped former foreign minister Qin Gang of his remaining role as State Councilor. Adding to the series of high-profile reshuffles, the Standing Committee named Lan Fo’an as finance minister to replace Liu Kun, a widely expected move.

    Bloomberg News reported earlier this month that Chinese policymakers were considering raising this year’s budget deficit and issuing additional sovereign debt, part of a push to help the nation’s reach an official government growth goal of about 5% for 2023. Citigroup economists at the time said a move beyond the usual debt-to-GDP target “could show a greater sense of urgency of the policymakers” as they push to reach that growth goal.

    Since then, stronger-than-expected data for the third quarter has led authorities to say they are “very confident” in the economy’s ability to hit that target this year, although today’s developments suggest they were not all that confident. Several challenges are likely to persist into 2024 though, including problems stemming from ongoing property market turmoil and deflationary pressures. Economists expect growth to slow to 4.5% next year.

    Finally, underscoring the significance of the latest developments, on Tuesday China’s Xi, along with vice premier He Lifeng and other government officials, visited the People’s Bank of China and the State Administration of Foreign Exchange in Beijing on Tuesday afternoon, Bloomberg reported earlier citing sources. The vice premier also visited the nation’s sovereign wealth fund.

    His visit to the foreign exchange regulator is partly aimed at better understanding China’s $3 trillion of currency reserves, one of the people said. It comes as state leaders, regulators and top bankers are set to gather at a closed-door financial policy meeting early next week to set medium-term priorities for the $61 trillion industry and prevent risks.

    While details of the visits weren’t immediately clear, Xi’s movements are closely monitored by investors for potential policy signals. The most powerful Chinese leader since Mao Zedong has never appeared at the PBOC, according to public records, and his visit would highlight recent Communist Party rhetoric on its “centralized and unified” leadership over the financial industry. Previous such inspections were often led by the nation’s premiers or their deputies.

    Therefore, Xi’s presence reinforces not only China’s willingness to kickstart the economy, but underscores the string of recent moves by the government to boost growth and stabilize markets, including purchases of stocks by the so called “National Team.”

    It could potentially help ease concerns among some investors that the president had been neglecting the economy amid a purge of senior ministers and a volatile relationship with the US; on the other hand, a burst of Chinese growth is precisely what will send oil sharply over $100, and spark a fresh round of panic in both the Fed and the White House, for which a jump in gasoline prices in the election year of 2024 is just what Biden does not want.

    Tyler Durden
    Tue, 10/24/2023 – 17:50

  • Quinn: Watch Out, You Might Just Get What You're After
    Quinn: Watch Out, You Might Just Get What You’re After

    Authored by Jim Quinn via The Burning Platform blog,

    Hold tight
    Wait ’til the party’s over
    Hold tight
    We’re in for nasty weather
    There has got to be a way
    Burning down the house

    Talking Heads – Burning Down the House

    If you haven’t noticed, we’re in for nasty weather. The swirling winds of a cloudy Fall day, as darkness descends upon the world, portends the coming vicious storms approaching our shores. Winter is coming. The gathering storm in the Middle East, with sides being chosen, alliances formed, enemies provoked, military’s mobilized, and the U.S. military industrial complex arming all sides, is just one of multiple potential inflection points poised to set the world ablaze if one of the psychopathic world leaders, installed to advance the globalist reset agenda, lights the fuse and ignites a global conflagration.

    Once it ignites, no one knows how it will progress. This Israel – Hamas mini-eruption could easily lead to a Mount St. Helens level eruption at any moment. The posturing and threats by Israel, Hamas, Iran, Turkey, Syria, and other players in this global game of World War 3 chicken are growing more intense by the day. They are all consumed by hubris, overestimating their strength and understanding of the situation, while far underestimating the extreme risks and dire consequences of their actions.

    Should anyone be confident statesman like behavior or wisdom will emanate from a White House occupied by an empty dementia ridden vessel grifter with pedophile tendencies and his merry band of LGBTQ+++ fools, knaves and dimwits? Of course not. The crumbling debt sodden American Empire is being led by an outright moron and anyone expecting Biden to do anything other than make things worse, has probably been jabbed five times, has a BLM, Israel, and Ukraine flag in their Twitter profile, and still thinks Hunter Biden’s laptop is Russian disinformation.

    The U.S. provoked Ukraine conflict has drained the coffers of the U.S. and EU of hundreds of billions, while depleting their precious armaments, just as WW3 launches. With the Middle East set to explode in a ball of fire, the world’s flow of precious oil, is in danger of being cutoff abruptly. Luckily, Dementia Joe depleted our Strategic Petroleum Reserve for election purposes, leaving us with 17 days worth of supply. Maybe Biden’s green energy windmill and solar farms will fill the gap when gasoline prices soar to $6.00 a gallon and 1970s like gas lines become common again.

    Biden and his squad are burning down the house with the American people trapped inside and there are no firemen coming to save the day. His physical and mental weakness; corruption of heart, mind, and spirit; vitriolic hate for half the nation; blatant disregard for the Constitution and the rule of law; selection of weak minded diversity apparatchiks for key positions; and doing as instructed by his globalist handlers behind the curtain, have left our nation with no visible means of support. And we haven’t seen anything yet. If you think Biden has made a mess of our country thus far, wait until he provokes WW3 and Civil War 2.0 simultaneously.

    Putin and Xi are serious minded, highly intelligent, dictators for life, who will do whatever they believe is in their nation’s best interest. And that means mobilizing their armed forces to take what they believe is theirs. Putin will not back down in Ukraine, and will oppose whichever side America supports in the Middle East. Xi is biding his time waiting for the American Empire to murder itself, and will take Taiwan when the moment is most advantageous to him. Both Putin and Xi have been busy decoupling their economies from the U.S. and creating their own New World Order.

    The Global Reset psychopaths, Schwab, Gates, Soros, and the shadowy cabal of billionaires they work for, appear to think a global war will benefit their satanic agenda by furthering depopulation, increasing restrictions on the peasants, taking away more liberties and freedoms, and furthering their authoritarian surveillance measures in the name of safety and security. They are willfully ignorant regarding the possibility they could blow up the planet. They are willing to risk the lives of billions to satisfy their unquenchable thirst for wealth, power, glory, and control. They better watch out, they might get what they’re after.

    It may seem mad to those staring into their TV sets, igadgets, and laptops,  being distracted by the latest misgendering outrage, BLM violence reported as a peaceful protest, new trumped up charges against Trump, Taylor Swift’s vaxx promoting NFL boyfriend, any of the thousands of nightly sporting events, and the daily propaganda performances by the regime media, but they actually have the same enemy as Putin and Xi – the U.S. government. They just don’t know it yet.

    Our crumbling society is being held together with spit, bailing wire, lies, and money printing. Lenin nailed it when he said, “There are decades where nothing happens; and there are weeks where decades happen.” It seems like the next several weeks could see decades of history made. And not the good kind. The time is approaching where we’ll have life and death decisions to make. We can’t let the likes of Biden and his minions sacrifice our youth in a war to benefit a globalist reset agenda.

    We can’t allow the continued unimpeded invasion of our border. We can’t allow the unhindered lawlessness of our executive, legislative, and judicial branches. We can’t allow the unconstrained astronomical increase of our national debt. We can’t allow these fools to destroy our world. It’s time to fight fire with fire. The Founding Fathers unequivocally created the 2nd Amendment for times like this. Armed conflict is a certainty, so acquiring more arms and ammo should be a high priority for all those thinking clearly at this point in history. The time for life changing courageous choices approaches. I hope we make the right choices. Good luck and Godspeed.

    No visible means of support
    And you have not seen nothin’ yet
    Everything’s stuck together
    And I don’t know what you expect
    Staring into the TV set
    Fightin’ fire with fire, ah

    Talking Heads – Burning Down the House

    Tyler Durden
    Tue, 10/24/2023 – 17:30

Digest powered by RSS Digest

Today’s News 24th October 2023

  • German Coal Plants May Have To Remain On Standby Longer Than Planned
    German Coal Plants May Have To Remain On Standby Longer Than Planned

    Authored by Tsvetana Paraskova via OilPrice.com,

    The German government is considering whether to extend the period in which old coal-fired power plants would be asked to remain on standby for emergency backup beyond the currently planned deadline in the spring of 2024, German business daily Handelsblatt reported this weekend, citing a spokeswoman for the economy ministry.

    Without Russian gas, last year’s energy and gas crisis in Germany, and in Europe, has been keeping utilities and governments on edge and ready to have mothballed coal-fired power plants on stand-by in the coldest winter days to ensure the security of electricity supply.

    Earlier this month, Germany’s government said it was bringing back online several coal-fired units for this winter in an attempt to save natural gas and avoid power supply shortfalls.

    Several coal-fired blocks operated by RWE and LEAG at their Niederaußem, Neurath, and Jaenschwalde power plants will be temporarily reactivated until March 2024 as a precautionary measure to safeguard electricity supply in the coming winter, the Economy and Climate Action Ministry said, referring to a government decision to bring the coal-fired units online again.

    Those coal units were already operational during the 2022/2023 winter when Germany was shocked into a severely reduced gas supply with the end of Russian pipeline deliveries. The backup coal capacity was put on stand-by this summer until the government now decided to reactivate them for the coming winter.

    Now the German government is considering extending the stand-by period beyond the spring of 2024 to prevent energy shortages, according to Handelsblatt’s source.

    The government needs to take a decision soon because utilities need to make preparations for potentially running coal-fired plants longer than planned, including preparations in procuring coal and planning for stable energy systems, a spokesperson for Uniper told Handelsblatt.

    As of this month, 11 coal-fired power plants with a total capacity of 6.2 gigawatts (GW) have been supplying additional electricity to the German grid.

    Tyler Durden
    Tue, 10/24/2023 – 02:00

  • Decoding The Taxil Hoax: Part 1
    Decoding The Taxil Hoax: Part 1

    Authored by ‘Mr. E.’ via bombthrower.com (emphasis ours),

    In my last article, The World’s Greatest Hoax, I exploded the myth that the Freemasons were at the center of a devil-worshiping conspiracy for world domination. As expected, this left some of the simpler minds out there thinking “If it’s not the Freemasons, he must be saying the whole thing is a lie!”

    Not so, not even close.

    Half the truth is often a great lie.Benjamin Franklin

    For those unfamiliar with the term ‘limited hangout’ I’ll explain. The best deceptions will always contain elements of the truth, and where these disclosures are bound to stir up public anger, they’re seeded with lies to scapegoat innocent parties. This is what Ben Franklin is talking about in the quote above, and it’s what Malcolm X was talking about in the quote used to kick off my last article.

    Leo Taxil’s Jesuit education is an indication that he knows more than the average person about what is truly going on behind the scenes in the world. This may have served as a model for the hoax he ultimately created. In this report we’re going to explore what he said in detail, and ultimately coax out the identity of the god of the elites, and why they all appear to be engaged in the same depraved rituals.

    Origins of Lucifer

    Taxil’s hoax starts off with Doctor Bataille’s encounter and initiation into the Palladium Rite. He recounts the strange rituals they performed, and one where they summoned Lucifer himself. The fictitious doctor assures the reader this is a real spiritual apparition, that even shook hands with one of the ritual’s attendees, and proceeds with giving us a general physical description:

    Doctor Bataille meets Lucifer, Léo Taxil, Le Diable au XIXe Siècle, p. 9.

    I then looked at the spirit that appeared. In all the previous evocations, in which I had taken part, when the spirit evoked had wanted to appear, it was always a ghost with more or less vaporous forms, a fluidic being, essentially impalpable. This spirit, on the contrary, was indeed a being like you and me, in flesh and blood, but with a truly radiant body. In the theater, sometimes, a jet of oxyhydric light is accompanied by the main character on stage; nevertheless, the trick is easy to see, since the light, directed from any point on the artist, widens towards him in the form of a barely opened compass; the light falls on man and illuminates him. Far from there, the spirit which had just appeared to us was itself the center of the glow, the luminous focus illuminating the room. There was no doubt; we were indeed in the presence of Lucifer himself.

    When he shows himself, is he always like I saw him?… That, I don’t know… That day, he had the features of a man between thirty-five and thirty-eight years; tall in stature; without beard or mustache; rather lean than fat, but by no means bony; the fine, distinguished physiognomy; I don’t know what melancholy in his eyes; a nervous smile tugging at the corners of his lips. He was naked, with white, slightly pink skin, wonderfully decoupaged, like a statue of Apollo. – Léo Taxil, Le Diable au XIXe Siècle, pp. 16-17

    This sympathy for the Devil, so to speak, carries on throughout the book and is the reason why Taxil refers to this fake group of Masons as “Luciferians.” However, the real Albert Pike, who Taxil portrayed as the ringleader of the bogus group of Masons, has published a great deal of literature under his own name, the most famous being the much-maligned Morals and Dogma.

    Pike in Masonic regalia by Mathew Brady.

    The subject of Lucifer is raised only FOUR times in this 860 page book. Quite amazing for a supposed Luciferian. Pike is hardly venerating the deity, either. Reproduced here for you are the only four parts, with a little truncation in places to compensate for Pike’s loquaciousness:

    Hypocrisy is the homage that vice and wrong pay to virtue and justice. It is Satan attempting to clothe himself in the angelic vesture of light. It is equally detestable in morals, politics, and religion; in the man and in the nation. To do injustice under the pretence of equity and fairness; to reprove vice in public and commit it in private … and sell one’s vote for place and power, are hypocrisies as common as they are infamous and disgraceful. To steal the livery of the Court of God to serve the Devil withal; to pretend to believe in a God of mercy and a Redeemer of love, and persecute those of a different faith … to inculcate humility, and in pride surpass Lucifer … is indeed to be like unto whited sepulchres, which appear beautiful outward, but are within full of bones of the dead and of all uncleanness. – Albert Pike, Morals and Dogma, p. 73.

    The true name of Satan, the Kabalists say, is that of Yahveh reversed; for Satan is not a black god, but the negation of God. The Devil is the personification of Atheism or Idolatry. For the Initiates, this is not a Person, but a Force, created for good, but which may serve for evil. It is the instrument of Liberty or Free Will. They represent this Force, which presides over the physical generation, under the mythologic and horned form of the God PAN; thence came the he-goat of the Sabbat, brother of the Ancient Serpent, and the Light-bearer or Phosphor, of which the poets have made the false Lucifer of the legend. – Albert Pike, Morals and Dogma, p. 102.

    The Apocalypse is, to those who receive the nineteenth Degree, the Apotheosis of that Sublime Faith which aspires to God alone, and despises all the pomps and works of Lucifer. LUCIFER, the Light-bearer! Strange and mysterious name to give to the Spirit of Darkness! Lucifer, the Son of the Morning! Is it he who bears the Light, and with its splendors intolerable blinds feeble, sensual, or selfish Souls? Doubt it not! for traditions are full of Divine Revelations and Inspirations: and Inspiration is not of one Age nor of one Creed. Plato and Philo, also, were inspired. – Albert Pike, Morals and Dogma, p. 321.

    It is by His uttered Word that God reveals Himself to us; not alone in the visible and invisible but intellectual creation, but also in our convictions, consciousness, and instincts. Hence it is that certain beliefs are universal. The conviction of all men that God is good led to a belief in a Devil, the fallen Lucifer or Lightbearer, Shaitan the Adversary, Ahriman and Tuphon, as an attempt to explain the existence of Evil, and make it consistent with the Infinite Power, Wisdom, and Benevolence of God. – Albert Pike, Morals and Dogma, p. 324.

    It’s obvious that Pike’s (and that of the world at large) conception of Lucifer is heavily influenced by Dante’s Divine Comedy, and Milton’s Paradise Lost. It was in these fictional works that Lucifer was cast as an angel who rebelled against God’s “plan” for humanity, in favor of his own and, after a war, was cast out of heaven along with the rest of his followers.

    The canonical reality is that “Lucifer” appears only once in the KJV Bible, in Isaiah 14:12, and that is the result of King James’ translator working from a copy of the Vulgate. The translator was less than adept at Latin and he had no idea what the word meant, and so left it untranslated. Isaiah was written during the Babylonian captivity and is a litany against the King of Babylon. The word ‘Lucifer’ is used in a list of epithets for the King. Working from the original Hebrew version of Isaiah we see the word is actually correctly rendered in English as “Day Star,” or “Morning Star,” a reference to the planet Venus when it appears just prior to sunrise in the east, of which Pike is clearly aware. This planet, the brightest object in the sky after the Sun and Moon was worshipped as a goddess in Rome, and in Greece she was known as Aphrodite, and Phosphorus.

    Aphrodite in a fresco from Pompeii, Casa di Venus, CE 1st century.

    And so there you have it, Lucifer is Aphrodite. Not a fallen angel who rebelled against God, but the godDESS of lust and sexual pleasure!

    Need more evidence? Venus orbits the sun thirteen times for every eight orbits of the Earth. By following the orbit of Venus from our geocentric perspective, we see that its course through the heavens traces out a pentagram – the symbol ostensibly used to summon!

    Divine Lovers

    It’s no controversy to say that the patriarchal Abrahamic faiths eliminated the entire female aspect of God, and now we can see the original template they worked from. You shouldn’t be surprised at this, because many early Christian apologists outright admit their dogma was borrowed heavily from the earlier pagan mythologies.

    And when we say also that the Word, who is the first-birth of God, was produced without sexual union, and that He, Jesus Christ, our Teacher, was crucified and died, and rose again, and ascended into heaven, we propound nothing different from what you believe regarding those whom you esteem sons of Jupiter. – St. Justin Martyr, The First Apology, Chapter 21.

    Let’s now go back to the quotes from the Taxil hoax, because they clearly convey a very different conception of Lucifer than Pike did.

    Therefore, when the autocratic Empire of Russia will become the citadel of papist adonaism, we shall unleash the revolutionary nihilists and atheists, and provoke a formidable social cataclysm, which will demonstrate clearly to the nations, in all its horror, the effect of absolute unbelief, mother of savagery and of the bloodiest disorder. Then everywhere, the citizens, obliged to defend themselves against the mad minority of revolutionaries, will exterminate these destroyers of civilization; and the countless disillusioned adonaites, whose deist soul have up until that time remained without a compass, thirsting for an ideal, but not knowing which God is worthy of tribute, will receive the True Light, by the universal manifestation of the pure Luciferian doctrine, at last made public, an event that will arise from a reactionary movement following the destruction of atheism and adonaism, together at the same time vanquished and exterminated. Léo Taxil, Le Diable au XIXe Siècle, Vol. II, p. 605.

    That which we must say to the world is that we worship a god, but it is the god that one adores without superstition. To you, Sovereign Grand Inspectors General, we say this, that you may repeat it to the brethren of the 32nd, 31st and 30th degrees: The masonic Religion should be, by all of us initiates of the higher degrees, maintained in the Purity of the Luciferian doctrine. If Lucifer were not God, would Adonay and his priests calumniate him? Yes, Lucifer is God, and unfortunately Adonay is also god. For the eternal law is that there is no light without shade, no beauty without ugliness, no white without black, for the absolute can only exist as two gods; darkness being necessary for light to serve as its foil as the pedestal is necessary to the statue, and the brake to the locomotive. Thus, the doctrine of Satanism is a heresy, and the true and pure philosophical religion is the belief in Lucifer, the equal of Adonay; but Lucifer, God of Light and God of Good, is struggling for humanity against Adonay, the God of Darkness and Evil. – A. C. de la Rive, La Femme et l’Enfant Dans la Franc-Maçonnerie Universelle, pp. 588-589.

    Here these hucksters are setting up a form of dualism in the form of Lucifer and Adonai, which is indeed one of the names of God according to the Hebrews. Adonai is associated with the Greek god Adonis, and now, suddenly everything fits together.

    Because Adonis and Aphrodite were lovers, not adversaries!

    The worship of Adonis in Greece and Phoenicia includes a great many rituals and themes you may find familiar. The Dictionary of Deities and Demons in the Bible is an authoritative resource on this and the entry for Adonai is quite interesting.

    Whereas Aphrodite self-formed from the castrated genitals of Ouranos, Adonis was born to mortals. He’s the son of Princess Myrrha, who was cursed by Aphrodite with insatiable lust for her own father after her mother bragged that Myrrha’s beauty surpassed that of the goddess. Children being punished for the transgressions of their parents is a common theme in ancient myths and this one carries on that tradition. Myrrha conceals her identity, and she manages to sleep with her father several times without being recognized, becoming pregnant. When the truth of her deeds is discovered, her father exiles her from his kingdom. She eventually is changed into a myrrh tree, but nevertheless gives birth to a child, Adonis.

    This child is taken by Aphrodite to Persephone, who raises him in the underworld. After reaching adulthood, Aphrodite returns to find he has grown into a stunningly handsome man. The two goddesses quarrel over who gets to be with him and a resolution is reached where he will spend one-third of the year each with Persephone and Aphrodite, as their lover. The remaining third was his choice, and he went with Aphrodite.

    Adonis, being beautiful, but ultimately useless as anything other than a boy toy, is mortally injured by a wild boar one day and dies in the arms of Aphrodite. Deemed a paragon of anti-heroic behavior, he represented the opposite of the positive sides of matrimony and manliness. An annual festival was instituted to commemorate his death by cultures throughout the Mediterranean. As recounted by many historians, these festivals usually take place over the course of three days. The first day the death of Adonis is mourned, and on the third day he is resurrected so they can repeat it all again next year.

    Sound familiar?

    Death of Adonis (1684–1686) by Luca Giordano.

    In the Phoenician city of Byblos this event was celebrated in the temple of Astarte, the Canaanite equivalent of Aphrodite. Adonis also had an equivalent known as Baal-Adon. In Greece the women would celebrate this time in an atmosphere of frolic and licentiousness. They would also conduct orgies in honor of Aphrodite, but this was about as extreme as they got. In Byblos they would engage in sacral prostitution and much, much more.

    As you shall see in the next part, coming next week, the Canaanites and other cultures further east took their worship of the divine lovers to the heights of depravity.

    Subscribe to the Bombthrower mailing list to get these posts as they come out, and follow Mr. E via his Substack and Twitter.

    Tyler Durden
    Mon, 10/23/2023 – 23:40

  • WW3 Fears Trigger American Panic-Buying Of 5.56 Ammo, Prices Surge 39% In A Week
    WW3 Fears Trigger American Panic-Buying Of 5.56 Ammo, Prices Surge 39% In A Week

    As the Israel-Hamas war sparks fears of WW3, law-abiding Americans are streaming the chaos in Israel and Gaza on their smartphones or smart TVs and have come to one conclusion: It’s time to panic buy ammo (just like during Covid). 

    New data from the ammo tracking website Ammo Prices Now shows 5.56×45mm NATO caliber ammunition listed online by popular brands has surged 39% in the past week, from .36 per round on Oct. 14 to .50 per round on Sunday. 

    The price spike is significantly larger than the move in early 2022 when Russia invaded Ukraine. Also, 223 Remington surged 42% last week. 

    Besides the Israel-Hamas war threatening to broaden into a regional conflict, Americans are also watching the Ukraine war and imploding US cities governed by radical progressives who could care less about law and order. All of these developments are stoking yet again another run on ammo.

    Remember what Elon Musk said on X last week, “As tragic as the mass shootings are, armed citizens are essential to the defense of democracy.”

    … and don’t forget when shit hits the fan, the government won’t be there to save you. 

    Tyler Durden
    Mon, 10/23/2023 – 23:20

  • Hopkins: Welcome To The War On Horrow (Or Whatever)
    Hopkins: Welcome To The War On Horrow (Or Whatever)

    Authored by CJ Hopkins via The Consent Factory,

    Welcome back to the War on Terror. I hope you had a nice 7-year break.

    Yes, that’s right, once again, Democracy is under attack by the Axis of Pure Unadulterated Evil! It’s time to switch off your critical faculties, wrap yourself in the American flag, or the Israeli flag, or the Ukrainian flag, or, better yet, all three flags, and stand with the Forces of Freedom and Goodness as they exercise their God-given right to defend the world from the Children of Darkness, and the Putin-Nazis, and Hate, and Rape, and Baby Murderers, and Baby Rapers, and Baby-Raper sympathizers!

    For those of us who are old enough to remember 9/11 and its aftermath, it’s déjà vu all over again. Except we already had The War on Terror. So, I don’t know what we’re calling it this time. Maybe it’s The War on Horror, or “Horrific Horror,” as President Biden put it.

    Or maybe we should call it The War on Whatever. After all, it’s all the same war.

    No. That isn’t going to sell. No one is going to fight a War on Whatever. We need something utterly meaningless but catchy. Something that will shut people’s minds off and keep them from asking inconvenient questions, like a corporate slogan or thought-terminating cliche.

    Let’s go with The War on Horror. Here’s how The War on Horror began …

    It began on the morning of October 7, when the State of Israel, which was just sitting there, peacefully, in the Middle Eastern territory bestowed on it by God, minding its own business, bothering no one, was unprovokedly attacked by members of Hamas, who, according to the Horrorists, were “exercising their legitimate right to resist occupation” by mass-murdering hundreds of unarmed people at a music event and entire families in their homes. In order to ensure that everyone recognized the legitimacy of their “armed resistance” — or, rather, to guarantee that the Israelis would be forced to massively overreact and that the attack would polarize the global public along the lines Hamas wants people polarized — they went about it with extreme brutality.

    Surprise! It worked! Israel is currently transforming Gaza into a heap of smoldering rubble, bombing commercial and residential areas, hospitals, mosques, churches, schools, shelters, people fleeing the air-raids, killing thousands of Palestinians, wiping out entire Palestinian families (or, as Israel calls them, “human shields”), and otherwise exercising its inalienable “right to defend itself” by sealing off Gaza and systematically liquidating its inhabitants, or, rather, by creating “a new security reality.”

    And the global public could not be more polarized.

    But Hamas can’t take all the credit for that. The most fearsome propaganda machine in the history of fearsome propaganda machines is working overtime, pumping out the message: “You’re either with us or you are with the Horrorists!” “You’re either with us or you are an anti-Semitic, Russia-loving, Baby Raper sympathizer!” And so on. I’m sure you’ve heard the message.

    Meanwhile, actual anti-Semites and “revolutionary” fanatics who are totally OK with mass-murdering people as a “resistance” tactic are doing their best to play along. The Internet is swarming with anti-Semites demonizing the Jews for, well, you name it. Crypto-fascists are coming out of the woodwork. Palestinian activists are lionizing Hamas. And so on. I’m sure you’ve seen the coverage.

    I’m going to forgo my usual practice of including links to some of that coverage, and to the numerous social media posts documenting the criminalization of dissent and expressions of support for the Palestinians since the War on Horror officially began, because, frankly, right now, I don’t believe anything I see or read until I’ve dedicated time to verifying that it is not propaganda designed to reinforce the official narrative, or the unofficial narrative, or some other narrative.

    At the moment, we’re being inundated with narratives, the official narrative, the unofficial narrative, the official unofficial narrative, the alternative official narrative, the alternative unofficial narrative, the bull-goose-loony unofficial narrative, etc., all of which is standard procedure when you are rolling out a War on Horror, or an Apocalyptic Pandemic, or some other major revision to the official master narrative.

    Which brings me to that hospital bombing story. You know the one. Al-Ahli Arab Hospital, which Israel bombed, or didn’t bomb, depending on which narrative you believe, or which narrative you don’t really believe but are nonetheless committed to pretending to believe, because believing the other one would betray your “side.”

    Now, I want to state this very clearly. I do not know who bombed the hospital.

    Yes, of course, I think I know. But I’m here in Berlin. I’m not in Gaza. I’m not in touch with anyone in Gaza. All I have to go on is the word of the IDF, and US Intelligence officials, and statements by the Palestinian authorities, and international media reports, and other stuff anyone can find on the Internet, and … well, you know, common sense.

    Call me a “Horrorist sympathizer” if you need to, but I do not take the word of the IDF and anonymous “Intelligence officials” on faith. I examine their narratives critically. I did that during the War on Terror. I did that during Russiagate. I did it during the Covid pandemic. Critically examining official narratives is part of my job as a political satirist.

    So, let’s take a look at the official narrative of the Al-Ahli Arab Hospital bombing.

    According to the official narrative, the Palestinian Horrorists just can’t catch a break. After decades of attacking Israel with their sissy little Horror rockets that typically only kill a few people at best, now, after they finally come up with a new Super-Horror rocket that will kill hundreds of people, the first time they use it, they shoot it into their own hospital.

    Or — and this is “Official Narrative B” — they shoot their new Super-Duper Horror rocket at Israel, but it disintegrates in mid-air, or is intercepted by the Israeli “Dome” thing, and one fragment of it (i.e., the Super-Horror rocket) lands in the parking lot of the hospital, and it turns out that fragment just happened to be the “Super-Horror” component of the rocket, which simultaneously ignites the topped-up gas tanks of every single car in the parking lot, which generates a massive fireball that blows the people in the parking lot to bits.

    But that’s just the current version of the official narrative, which has evolved over time.

    First, shortly after the explosion, Benjamin Netanyahu’s social media advisor took to X to celebrate the strike, crowing “The Israeli Air Force struck a Hamas terrorist base inside a hospital in Gaza!” This Tweet was quickly deleted, of course, and the IDF officially denied responsibility, blamed the explosion on an Islamic Jihad rocket, and posted CCTV footage confirming their story. Unfortunately for the IDF, the fake footage they posted included a timestamp of 7:59, one hour after the event. So, the IDF deleted that Tweet, revised it, and reposted it without the fake footage. Then other IDF-related entities posted other footage, which was also fake.

    Al Jazeera has documented all that here …

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

    The next morning, footage of the hospital parking lot where the explosion occurred and the hospital building still standing was all the official propagandists needed to put the finishing touches on their official narrative, but, just for good measure, the IDF posted a “surveillance recording of two Hamas terrorists” with funny accents confessing that they had accidentally bombed the hospital. It was kind of like a Cheech and Chong routine. Seriously, they had the audacity to do that.

    Intelligence-agency sock puppets immediately inundated the Internet with tweets and posts reinforcing the “misfired rocket” story. Anyone questioning it was shouted down as an “anti-Semitic terrorist-loving idiot.” Papers of record revised their headlinesBiden confirmed that the “other team” did it. The corporate media, assorted Persons of Influence, and even prominent independent media sources like Racket News and Public declared the case closed. After all, the IDF and anonymous US Intelligence officials would never lie to us or attempt to dupe the public with fabricated “evidence,” and anyone who suggests they would is an “anti-Semitic, Horrorist-loving, hate-speech-disseminating disinformationist!”

    Apparently, the UK’s Channel 4 News did not get the memo. Here’s their coverage …

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

    Neither did the Aaron Maté at The Grayzone 

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

    But, I don’t know … maybe I’m wrong. Maybe the Israeli military, and the Military-Industrial Complex, and the Censorship Industrial Complex, and the US Intelligence community and its cutouts, are telling us the truth this time.

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

    Unfortunately, we’ll probably never know, because conducting an independent investigation into the bombing would be “inappropriate” …

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

    Seriously, though, this is only the beginning. The torrent of official and unofficial propaganda, gaslighting, and emotional manipulation is only going to increase over time. Probably the best thing to do at this point is pick a “side” and back it unquestioningly, no matter what it does or says. If you’re a professional person, with a career, and a mortgage, and kids, or aspiring to be such a person, I would recommend going with The Powers That Be. It’s easy to do that. Simply unsubscribe from, and block, and otherwise close your ears and mind to “conspiracy theorists” like me. Stick with those anonymous “Intelligence officials,” the IDF, and the corporate media, and those “fact-checking” entities, and Google, and the rest of the Official Reality Enforcement Apparatus that has been rolled out, globally, during the past three years. You didn’t think they were rolling all that out for kicks, did you? No … of course you didn’t.

    In any event, welcome to the War on Horror, or Terror, or Reality, or Whatever!

    Tyler Durden
    Mon, 10/23/2023 – 23:00

  • The Uncancellable Billionaire: Musk's SpaceX Signs Deal To Launch EU Satellites
    The Uncancellable Billionaire: Musk’s SpaceX Signs Deal To Launch EU Satellites

    Earlier this year, Elon Musk warned the Biden administration would “weaponize” federal agencies against him for his ‘free speech’ platform X. More recently, Democrats tried to cancel the billionaire after his biographer Walter Isaacson claimed Musk turned off Starlink coverage for Ukraine, which turned out to be false. Then, in recent weeks, the European Union told Musk that X could be at risk of being banned across the continent over claims of ‘disinformation’ amid the Israel-Gaza conflict.

    Despite the frequent efforts by Western political elites to ‘cancel’ the billionaire, their efforts have largely been unsuccessful. Musk is becoming the ‘uncancellable billionaire’ as the latest news from the Wall Street Journal reveals – even though the European Union has a strong distaste for the billionaire – they must now use SpaceX rockets to launch spy satellites into orbit because delays in Europe’s space rocket program and cutting off the use of Russian rockets due to the Ukraine war. 

    SpaceX and the European Space Agency agreed to conduct at least two launches next year, catapulting two Galileo satellites into orbit. The European Commission and EU member states have yet to approve the agreement, but officials told WSJ they anticipate approval by the end of the year. 

    ESA Director of Navigation Javier Benedicto said the agreement calls for the Galileo satellites to be launched on SpaceX’s Falcon 9 rocket from the US. A spokesman for the European Commission said it is “taking all necessary steps to ensure that the Galileo constellation continues to provide outstanding services in the coming months and years.”

    WSJ said EU officials have hesitated to use Musk’s rocket company for the Galileo satellites, saying the EU should rely on the US. However, it is tough luck because Europe’s Ariane rocket program has been hit with delays, and there’s no chance the Russians will be launching those satellites. 

    If EU officials sign the agreement, this would be the first SpaceX Galileo contract ever and the first time Galileo satellites would be launched outside EU territory in 15 years.  

    The billionaire noted on X in September that SpaceX delivered 80% of all Earth payload mass to orbit so far this year. He said China accounted for the other 10%. He added next year will be 90%, and when Starship becomes operational, that number will rise to >99%. 

    Musk is becoming an uncancellable billionaire. And this is making Democrats and their counterparts in the EU have meltdowns. 

    Tyler Durden
    Mon, 10/23/2023 – 22:40

  • US Still Dominates The World's Largest Stock Exchanges
    US Still Dominates The World’s Largest Stock Exchanges

    Today, there are roughly 80 major stock exchanges worth a combined $110.2 trillion in value.

    The world’s top two exchanges, the New York Stock Exchange (NYSE) and the Nasdaq, command 42.4% of global market capitalization.

    Despite the rapid growth of emerging economies, the U.S. continues to lead capital markets by a wide margin—even as countries such as India see considerable growth, surpassing the UK in 2023.

    This visualization, via Visual Capitalist’s Dorothy Neufeld and Sabrina Fortin, shows the largest stock exchanges in the world, with data from the World Federation of Exchanges (WFE).

    Top Stock Exchanges, by Market Cap

    Here are the top 25 largest stock markets covering 96.6% of total stock market capitalization:

    Global Rank Stock Exchange Country Market Cap
    Aug 2023
    1 NYSE 🇺🇸 U.S. $25.0T
    2 Nasdaq 🇺🇸 U.S. $21.7T
    3 Euronext 🇳🇱 Netherlands $7.2T
    4 Shanghai Stock Exchange 🇨🇳 China $6.7T
    5 Japan Exchange Group 🇯🇵 Japan $5.9T
    6 Shenzhen Stock Exchange 🇨🇳 China $4.5T
    7 Hong Kong Exchanges 🇭🇰 Hong Kong $4.2T
    8 National Stock Exchange
    of India
    🇮🇳 India $3.5T
    9 LSE Group 🇬🇧 UK $3.4T
    10 Saudi Exchange 🇸🇦 Saudi Arabia $3.1T
    11 TMX Group 🇨🇦 Canada $2.9T
    12 Deutsche Boerse AG 🇩🇪 Germany $2.1T
    13 SIX Swiss Exchange 🇨🇭 Switzerland $2.1T
    14 Nasdaq Nordic
    and Baltics
    🇸🇪 Sweden, Denmark,
    Finland and Iceland
    $2.0T
    15 Korea Exchange 🇰🇷 South Korea $1.9T
    16 Tehran Stock Exchange 🇮🇷 Iran $1.7T
    17 ASX Australian
    Securities Exchange
    🇦🇺 Australia $1.7T
    18 Taiwan Stock Exchange 🇹🇼 Taiwan $1.6T
    19 Johannesburg Stock
    Exchange
    🇿🇦 South Africa $1.2T
    20 B3 – Brazil Stock Exchange
    and OTC Market
    🇧🇷 Brazil $0.9T
    21 Abu Dhabi Securities Exchange 🇦🇪 Abu Dhabi $0.8T
    22 BME Spanish Exchanges 🇪🇸 Spain $0.8T
    23 Singapore Exchange 🇸🇬 Singapore $0.6T
    24 The Stock Exchange
    of Thailand
    🇹🇭 Thailand $0.6T
    25 Bolsa Mexicana
    de Valores
    🇲🇽 Mexico $0.5T

    The NYSE ($25.0 trillion) and the tech-heavy Nasdaq ($21.7 trillion) are home to many of the world’s most valuable firms, from Apple to Nvidia. Since 2016, the NYSE has grown 35.1% while the Nasdaq has ballooned 189.3% in market cap.

    The vast majority of companies in the S&P 500 Index, often seen as a barometer for U.S. stock market performance, are traded on these exchanges.

    With $7.2 trillion in market cap, Euronext is the world’s third-largest exchange. Since Brexit, the pan-European exchange has attracted more capital and by early 2021, it outranked the London Stock Exchange. Over the last two decades, London’s stock market has fallen from 13% to 4% of the global share.

    Ranking fourth is the Shanghai Stock Exchange, at $6.7 trillion in market cap. Beverage giant Kweichow Moutai, ICBC, and PetroChina are the largest companies traded on the exchange.

    Like China, as India’s economy has continued to expand, so has its primary stock market. As the twelfth-largest globally, it’s worth $3.5 trillion in market cap, growing over 133% in market value since 2016.

    Should You Invest Internationally?

    While U.S. stock markets are unmatched in scale in the global arena, investors may look to diversify exposure across the pond.

    In fact, by 2050, Goldman Sachs projects that emerging markets’ share of global stock market capitalization will surpass America. Given the strong economic growth of emerging markets, investors may find opportunities in broad market indexes that track these countries through investment vehicles like ETFs or mutual funds.

    Yet while international markets may provide opportunities for diversification, they may also present risk given political, regulatory, and economic factors.

    Tyler Durden
    Mon, 10/23/2023 – 22:00

  • America's Crisis Of Faith: Poll Reveals More Americans Are Rejecting The Constitution And Embracing Violence
    America’s Crisis Of Faith: Poll Reveals More Americans Are Rejecting The Constitution And Embracing Violence

    Authored by Jonathan Turley,

    Below is my column in Fox.com on the poll released last week showing an increasing number of citizens have lost faith in our constitutional system and now view violence as warranted to silence those with opposing views.

    It is a crisis of faith that represents the greatest possible threat to our Republic. The loss of faith and fealty constitutes one of the greatest crises that our nation has faced since its foundation.

    Here is the column:

    A recent startling poll shows that a majority of voters not only view the opposing party as a threat to the nation but justifying violence to combat their agenda. The poll captures a crisis of faith that I have been writing about for over a decade as an academic and a commentator. Many now question democracy as a sustainable system of government. It represents the single greatest threat to this nation: a citizenry that has lost faith not just with our system of government but with each other.

    The polls by the University of Virginia Center for Politics shows a nation at war with itself. Fifty-two percent of Biden supporters say Republicans are now a threat to American life while 47 percent of Trump supporters say the same about Democrats.

    Among Biden supporters, 41 percent now believe violence is justified “to stop [Republicans] from achieving their goals.” An almost identical percentage, 38 percent, of Trump supporters now embrace violence to stop Democrats.

    Not surprisingly, many of these people have lost faith in democracy. Some 31 percent of Trump supporters believe that the nation should explore alternative forms of government.  Roughly a quarter (24 percent) of Biden supporters also question the viability of democracy.

    Faith is the one thing that no system of government can do without. Without faith in the underlying values of a constitutional system, authority rests on a mix of coercion and capitulation.

    For years, I have written about this growing loss of faith and how it has been fueled by our intellectual and political elites. In the echo chamber of news and social media, citizens constantly hear how the opposing party is composed of “traitors” and how the constitutional system works to protect enemies of the people.

    Viewers now get a steady diet of figures like MSNBC commentator Elie Mystal who called the U.S. Constitution “trash” and argued that we should simply just dump it.

    In a New York Times column, “The Constitution Is Broken and Should Not Be Reclaimed,” law professors Ryan D. Doerfler of Harvard and Samuel Moyn of Yale called for the Constitution to be “radically altered” to “reclaim America from constitutionalism.”

    Georgetown University Law School Professor Rosa Brooks went on MSNBC’s “The ReidOut” to lash out at Americans becoming “slaves” to the U.S. Constitution and that the Constitution itself is now the problem for the country.

    They are part of the radical chic that has become the norm in academia — and widely embraced by the media.

    According to these law professors the problem is not just our Constitution, but constitutionalism in general.

    Others have argued that key protections or institutions should just be ignored. In a recent open letter, Harvard law professor Mark Tushnet and San Francisco State University political scientist Aaron Belkin called upon President Joe Biden to defy rulings of the Supreme Court that he considers “mistaken” in the name of “popular constitutionalism.”

    “Popular constitutionalism” appears a form of discretionary or ad hoc compliance with constituitional law. If only “popular” constitutional rules are followed, the Constitution itself becomes a mere pretense for whatever the shifting majority or forming mob demands.

    Politicians have also contributed to this crisis of faith in challenging constitutional values or core institutions. Members like Rep. Alexandria Ocasio-Cortez (D-N.Y.) has questioned the need for a Supreme Court.

    Others like Sen. Elizabeth Warren (D-Mass) have called for the packing of the Supreme Court to simply create an immediate liberal majority.

    Senate Majority Leader Charles Schumer (D-NY) thrilled his base by going to the steps of the Supreme Court to declare “I want to tell you, Gorsuch. I want to tell you, Kavanaugh. You have released the whirlwind and you will pay the price! You won’t know what hit you if you go forward with these awful decisions.”

    It is little surprise that one man showed up at the home of Justice Bret Kavanaugh to kill him for his “awful decisions.”

    Conversely, former President Donald Trump has regularly denounced his political opponents as “traitors” and “enemies of the people.” He recently declared “If you go after me, I’m coming after you!”

    With leaders engaging in such reckless rhetoric, it is hardly surprising that the Constitution itself is now viewed as threat to our nation rather than the very thing that defines us. It is designed to restrain the majority and protect those who are the least popular in our society.

    In the end, a constitution remains a covenant not between citizens and their government but between each other as citizens. It demands a leap of faith; a commitment that despite our differences we will defend the rights of our neighbors.

    If nothing else, the Constitution has one thing to recommend it: we are still here. It is a Constitution that has survived economic and political upheavals. It survived a Civil War in which hundreds of thousands were killed.

    It is not a particularly poetic document. It was written by the ultimate wonk, James Madison. If you want truly inspirational prose, try any of the French constitutions. Of course, they had more practice since they regularly failed. Other countries based their constitutions on aspirational statements of the values that we shared. The Madisonian system spent as much time on what divided us; it not only recognized the danger of factions but created a system to bring such divisions to the surface where they could be addressed.

    The danger of other systems was realized when these divisions were left below the surface where they would fester and explode in the streets of Paris. The American Constitution allowed for a type of controlled implosion toward the center of the system; these factional interests would be expressed and vented in the legislative branch. The Madisonian system does not hide our divisions; it invites their expression.

    The question is whether we have reached a time when the things that divide us will now overcome what unites us. This is not our first age of rage. Indeed, at the start of our Republic, rivaling parties were not just figuratively trying to kill each other; they were actually trying to kill each other through laws like the Alien and Sedition Acts. Thomas Jefferson would refer to the term of his predecessor John Adams as “the reign of the witches.”

    Yet, that history is no guarantee that it can survive our current age of rage. The relentless attacks on the constitution from the political, media, and academic elite has turned many into constitutional atheists.  Yet, the future of our constitutional system may rest with the rising number of constitutional agnostics — those citizens who are simply disconnected or disinterested in the defense of our founding principles.

    Philosopher John Stuart Mill warned in 1867 that all it takes for evil to prevail is for “good men [to] look on and do nothing.”

    We are now in an existential struggle to preserve the values that founded the most successful constitutional system in the history of the world.

    It is our legacy that now can be either boldly defended by a grateful people or lost in the whimper of a disinterested generation.

    Tyler Durden
    Mon, 10/23/2023 – 21:40

  • "Not Connected To World Events": Alaska Air Pilot Tries To Crash Plane
    “Not Connected To World Events”: Alaska Air Pilot Tries To Crash Plane

    An off-duty Alaska Airlines pilot riding in the cockpit of a Horizon Airlines regional jet was charged with 83 counts of attempted murder after he allegedly tried to cut engine power mid-flight on route to San Francisco. 

    The Messenger reports Alaska Airlines pilot Joseph D. Emerson, 44, was riding in the cockpit’s jumpseat of Horizon Air flight 2059 when he “unsuccessfully attempted to disrupt the operation of the engines.” 

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

    On Sunday night, the flight from Everett, in suburban Seattle, to San Francisco was diverted to Portland, Oregon, where Emerson was arrested. 

    “The Horizon captain and first officer quickly responded, engine power was not lost and the crew secured the aircraft without incident,” Alaska said

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

    A streaming audio network of aircraft communications called Live ATC, recorded audio from the pilots talking to air traffic controllers about the incident: 

    “We’ve got the guy that tried to shut the engines down out of the cockpit and he doesn’t sound like he’s causing any issue in the back right now, I think he’s subdued.

    “We want law enforcement as soon as we get on the ground and parked.”

    CNN’s Pete Muntean wrote on X, “The FAA is telling airlines that Sunday’s incident involving an off-duty pilot who attempted to cut the engines of an Alaska Airlines flight is “not connected” to “current world events.”” 

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

    Commercial pilots undergo rigorous medical screening by an Aviation Medical Examiner every six months to several years. 

    Pilots must run through a series of checklists before operating a plane, even a personal checklist called “I’m SAFE,” which covers illness, medication, stress, alcohol, fatigue, and emotion. 

    It’s unclear whether the off-duty Alaska pilot was experiencing a mental breakdown or was under the influence of drugs or alcohol. While the FAA clarified that the incident wasn’t related to current global events, we still ask the question if it was a factor. 

    Tyler Durden
    Mon, 10/23/2023 – 21:20

  • Israel To Consider Civilians 'Terrorist Accomplices' If They Stay In North Gaza
    Israel To Consider Civilians ‘Terrorist Accomplices’ If They Stay In North Gaza

    Authored by Dave DeCamp via AntiWar.com,

    The Israeli military has told Palestinian civilians living in north Gaza that if they don’t evacuate to the south, they will be considered “an accomplice in a terrorist organization.”

    The warning was made in threatening leaflets dropped by Israeli drones over the weekend. “Urgent warning, to residents of Gaza. Your presence north of Wadi Gaza puts your life in danger. Whoever chooses not to leave north Gaza to the south of Wadi Gaza might be identified as an accomplice in a terrorist organization,” the leaflets said, according to Reuters.

    Image: Anadolu Agency

    Israel previously ordered the evacuation of northern Gaza, an area that’s home to 1.1 million people. Since Gaza is under blockade, the only option for Palestinians in the north is to flee to the south, which is also under constant Israeli bombardment.

    Some Gazans have fled to the south, while others have refused to leave their homes or have sought shelter at hospitals, hoping they will not be targeted in the Israeli onslaught, but Israel is ordering hospitals to be evacuated.

    According to the Palestinian Red Crescent, Israel ordered the evacuation of Al-Quds hospital, which is housing more than 400 patients and 12,000 displaced civilians.

    Since Israel has unleashed its bombing campaign on Gaza in the wake of the October 7 Hamas attack, at least 4,651 Palestinians have been killed in Gaza [since revised to over 5,000], including 1,756 children, according to the Palestinian Health Ministry. On the Israeli side, at least 1,405 people have been killed.

    Gazans are also suffering from food and water shortages due to the Israeli siege. A limited number of aid trucks have been allowed to enter Gaza from Egypt, which included medical supplies but no fuel to power hospital generators.

    Aid agencies have said the aid that has been let in is just a “drop in the ocean” for Gaza’s 2.3 million residents.

    Tyler Durden
    Mon, 10/23/2023 – 21:00

  • College Dropouts Hope To Cash In On AI Gold Rush
    College Dropouts Hope To Cash In On AI Gold Rush

    With over 25% of American startup investments in 2023 going to AI companies (per Crunchbase), a whole generation of young entrepreneurs are ditching college to seize opportunities in the booming sector.

    The launch of transformative AI models such as ChatGPT and Bard has ignited a surge in investments and the establishment of new AI-driven companies. The generative AI market alone is estimated to be worth $43 billion for enterprise technology AI in 2023, as reported by PitchBook. This rapid growth has enticed young founders to abandon their college classrooms and embark on entrepreneurial journeys, according to the Wall Street Journal.

    Govind Gnanakumar, 19, recently made headlines after he left the Georgia Institute of Technology to devote his full attention to his AI startup, Automorphic. He’s not alone in this endeavor, as a growing number of teenagers and twenty-somethings see the potential of the AI boom and are willing to take a leap of faith. Gnanakumar believes that Y Combinator’s prestigious startup accelerator program offers education and experience equivalent to a traditional degree. At Automorphic, he’s working on AI tools capable of answering intricate questions in specialized fields such as genomics and patent law. Gnanakumar’s motivation is clear: he’d rather be on the side of automation than risk losing his job to it.

    Venture capitalists acknowledge the drive and ambition of these young dropouts, but caution that many of their ventures may fizzle out. Building a successful AI company requires access to vast datasets and expertise in building and training AI models. While some students may experiment and fail, not having mortgages or children to support provides them with the freedom to take these risks.

    “It’s the wonder of youth. You’ve got to love them,” said Jeffrey Sohl, who leads the Center for Venture Research at the University of New Hampshire as well as a student angel-investment fund, and who acknowledges that most won’t become household names.

    Not all of them can change the world.

    Tech giants like Zuckerberg, Bill Gates, and Steve Jobs, who achieved tremendous success without formal degrees, have reinforced the notion that academic qualifications aren’t the sole path to innovation and entrepreneurship, while the emergence of generative AI tools like ChatGPT has simplified the process of starting AI-based companies. Founders can now use AI to develop algorithms that previously required entire teams of engineers. This newfound accessibility has fueled the ambitions of young entrepreneurs.

    20-year-old Kevin Lu, who left the University of Waterloo in Canada to focus on his company, Sweep AI, sees AI as a force that could replace many traditional jobs, including his own. He believes that embracing AI entrepreneurship is a way to stay ahead of the curve in a world where automation threatens various professions.

    “By the time I graduate, I’m going to be replaced by AI,” he says. “I’d rather be the one replacing people.”

    A recent McKinsey analysis suggests up to 30% of tech workers’ time could be changed by automation in the next decade. Eighty percent of workers are in occupations where at least one task can be performed more quickly by generative AI, according to research from the University of Pennsylvania and OpenAI, the company that makes ChatGPT. -WSJ

    According to research from the University of Pennsylvania and OpenAI, 80% of workers are in occupations where at least one task can be performed more quickly by generative AI.

    Hype? Vaporware?

    The push into AI has also stoked calls for restraint, as concerns of overzealous branding and the use of ‘all things AI’ as a buzzword may backfire – and has prompted predictions of an impending shakeout in the AI startup space. Institutions have seen a surge in AI-related startup ideas, even when they may not necessarily require AI solutions.

    Everyone is trying to pass off their company as an AI venture,” said Kartik Hosanagar, faculty co-director of a program at the Wharton School of the University of Pennsylvania focused on AI.

    Despite these challenges, young entrepreneurs remain undeterred. David Zhi LuoZhang and Jeffrey Pan, both 20, leveraged their machine-learning knowledge from a graduate-level course to create Bronco AI, which assists executives in decision-making using business data. They left their university after securing their first investment and are now actively engaged in their startup.

    It’s hard to focus on your homework when you’re thinking about how you could run all the factories in America,” said LuoZhang.

    Jay Dang, 21, withdrew from the University of California Berkeley to establish FlowGPT, a generative AI applications company. Dang sees this decision as the best he’s ever made, with FlowGPT now boasting a substantial user base and a valuation of $12 million after raising $2 million, according to the co-founders.

    Dang says he now works 90 hours a week, something he couldn’t do if he also had to deal with exams and classes.

    And then there’s plan B: “You can always go back to college if you fail.”

    Tyler Durden
    Mon, 10/23/2023 – 20:40

  • The United States Deficit Road To Ruin
    The United States Deficit Road To Ruin

    Authored by Daniel Lacalle,

    According to the U.S. Treasury, year-end data from September 2023 show that the deficit for the full year 2023 was $1.7 trillion, $320 billion higher than the prior year’s deficit. As a percentage of GDP, the deficit was 6.3%, an increase from 5.4% in FY 2022. This means that the United States will likely post the worst GDP growth excluding debt increases since 1929, or, in other words, that the country is in a recession disguised by bloated deficit spending.

    This disastrous result shows that the Keynesian science fiction of the public sector multiplier does not work. The Biden administration increased taxes, but revenues declined. Governmental receipts totaled $4.4 trillion in FY 2023 (16.5 percent of GDP), 9.3% lower than in 2022 and below the budget projections. This decline is mostly due to $456 billion in lower individual income tax receipts and $106 billion in lower deposits of earnings by the Federal Reserve due to higher interest rates, according to the Treasury.

    The mirage of fiscal consolidation through revenue measures has proven to be false yet again. Lower-than-expected tax receipts are another clear indication of a weak economy. We cannot forget that the Biden administration increased taxes, expecting a record revenue figure. The opposite happened.

    You may think that the deficit is a result of rising yields and that the central bank could have monetized the debt, but that would have meant higher inflation and an even worse deficit because the government would have increased expenditures well above the $6.1 trillion as it always does.

    The United States government is unable to spend less than 22.8% of GDP, and no tax revenue measure can eliminate the deficit. Those who think that taxing the rich would eliminate the deficit should ask how the government would collect $1.7 trillion in additional taxes per year and every year, no matter what the growth of the economy is.

    With $33.6 trillion of public debt and the administration’s own estimate of the accumulated deficit for 2023–2022, public debt is going to soar by $14 trillion. No tax measure can eliminate that problem.

    Deficits are always a spending problem. Massively monetizing government spending was the cause of inflation. The excessive money growth created a persistent inflationary problem that continues to this day, even with declining monetary aggregates. This level of inflation remains because the government continues to consume an excessive amount of newly created currency units, and money market fund inflows show that the reduction in base money (M2) may be misleading to predict an abrupt fall in the interannual inflation rate. It is impossible to believe that a massive intervention from the Federal Reserve would have avoided the increase in deficit, but it does not even matter. Even if there had been no rise in the cost of debt, the deficit would have remained above $1.6 trillion. Even if the tax receipts had been in line with the government’s estimate, the annual deficit would have been higher than $1.3 trillion.

    There is simply no excuse. The different arguments for Keynesianism are all debunked.

    • High government spending has not created higher growth or rising real wages.

    • There is no fiscal multiplier.

    • Tax receipts do not rise with tax rate increases.

    • Furthermore, government spending is the only real source of the enormous deficit that is creating both an inflationary problem and a challenge for the U.S. dollar as a world reserve currency.

    Countries like China are selling government bonds at the fastest rate in years; the U.S. 10-year Treasury yield remains well above 4.5% and is likely to rise.

    There is no free government money. You wanted a stimulus check? You have high inflation and negative real wage growth. If the U.S. does not eliminate the deficit, it will put the U.S. dollar at risk.

    It is not true that the deficit means more reserves for the private sector and more dollars for the world. The supply of U.S. dollars for the world should come from productive investment and private sector credit creation, not rising government size. Following the eurozone is a dangerous example and leads to poor growth and higher unemployment.

    High public deficits mean lower growth, lower real wages, and more debt in the future. All of it leads to higher taxes and persistent inflation. There is no such thing as a balanced budget with ever-increasing government size and constant erosion of the private sector via higher taxes.

    Tyler Durden
    Mon, 10/23/2023 – 20:20

  • Israel A 'Nuclear Wildcard' On 'Dangerous Road To Armageddon': Macgregor
    Israel A ‘Nuclear Wildcard’ On ‘Dangerous Road To Armageddon’: Macgregor

    Tucker Carlson sat down with Col. Douglas Macgregor (ret.), who laid out a disturbing scenario in which the United States could quickly be pulled into a direct conflict with Iran, Russia and China over Israel’s anticipated response to the October 7 Hamas attack.

    Carlson starts off highlighting Lindsey Graham, who vowed; “…if Hezbollah, which is a proxy of Iran, launches a massive attack on Israel, I consider that a threat to the… state of Israel, existential in nature. I will introduce a resolution [in] the United States Senate to allow military action by the United States in conjunction with Israel to knock Iran out of the Oil Business…”

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

    Carlson then asks: “So what would war with Iran mean? Well, it’s hard to know because virtually no one who’s talking about it in public is operating from a deep interest in America’s interest. Is this good for us, or is it not?

    If, as Sen. Graham suggests, we start bombing critical infrastructure in Iran, Macgregor warns “the destruction would be wholesale” as Iran would target “all the bases we have in Iraq and Syria – with around 1000 Americans – would be targeted… and this time accurately.

    According to Macgregor, “The chosen destination” if we continue on this path, “is Armageddon,” and the implications (of which nobody seems to be considering) for the United States, Europe, and the Middle East are grave. For example, “just on the economic side, about 20% of the world’s oil passes through the Straits of Hormuz every month – probably 25% of liquefied natural gas, and you’re talking about shutting down 2 to three million barrels a day of oil from Iran. 

    “You know this entire region is involved in the war. This is not an Iranian Monopoly by any stretch of the imagination,” he continued.

    The two also discussed how one of the primary challenges of in contemplating war with Iran is the unpredictable nature of such conflicts. Economic sanctions, which have been the go-to strategy for years, have failed to cripple Iran’s military capabilities. When military force comes into play, a whole new set of unknowns emerges.

    The U.S. military, as it stands, may not be adequately prepared for such a conflict – particularly if the enemy has new weapons systems and capabilities.

    “We’ve had the luxury of sitting around forward operating bases and striking opponents that were armed with AK-47s, and command detonated mines and the occasional mortar or rocket. Very, very low-intensity combat,” he said, referring to the types of engagements the US military has grown accustomed to.

    Nuclear wildcard?

    According to Macgregor, “This is a high-end, conventional war that we’re looking at, with the potential to go nuclear – which, obviously, I don’t think we or the Russians want to happen, but we have the wild-card in Israel. They do have a nuclear capability.”

    “We don’t know what the trip wire is for them to employ such a weapon. At that point of course, all bets are off and I think most of the world would turn against Israel. Right now, they just have to worry about the Muslim world against them,” he continued, explaining that by focusing on Hamas and Hezbollah as immediate threats, the broader implications are obscured. For example, attacking urban environments such as Gaza comes with a high risk of civilian casualties – the consequences of which would catastrophic, both morally and strategically.

    “Hezbollah has a very large operation in Mexico,” says Macgregor. “There are no doubt many, many Hezbollah agents inside the United States. We can only begin to imagine the kind of trouble they could cause.”

    In the midst of all this, the question arises: How will a war with Iran affect American domestic politics? History shows that war is often used to stifle dissent, but in today’s connected world, censorship can only go so far. Public opinion, initially in favor of violence against Hamas, may wane as the conflict escalates and images of destruction flood the media.

    “But what’s most important, I think, for Americans to understand is, if we attack Iran on the basis of Hezbollah’s alleged willingness to attack Israel, if Israel gets into a real shooting war with Hezbollah, they have the largest armed forces in the region.”

    Watch:

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

     

    Tyler Durden
    Mon, 10/23/2023 – 20:00

  • John Lott Opines On Supreme Court 'Ghost Gun' Regulation
    John Lott Opines On Supreme Court ‘Ghost Gun’ Regulation

    Authored by John R. Lott Jr. via RealClear Wire,

    On Monday, in a 5-to-4 decision, the Supreme Court voted without comment to allow the Biden administration’s regulations on “ghost guns” to go into effect. The rules require serial numbers on gun parts.

    Chief Justice John Roberts and Justice Amy Coney Barrett joined their three Democrat-appointed colleagues in allowing the Biden administration to enforce these rules while the Biden administration appeals a lower court ruling.

    Democrats have pushed for serial numbers on all parts of guns, saying it’s a way to protect public safety and prevent violent crime. “The public-safety interests in reversing the flow of ghost guns to dangerous and otherwise prohibited persons easily outweighs the minor costs that respondents will incur,” Solicitor General Elizabeth Prelogar wrote in a court filing.

    It will help to ensure that law enforcement officers can retrieve the information they need to solve crimes,” U.S. Attorney General Merrick Garland claimed last year. “And it will help reduce the number of untraceable firearms flooding our communities.

    Biden’s expanded use of serial numbers is aimed at stopping the production of homemade guns, now called “ghost guns” by gun control advocates. Homemade guns have been around since before the United States became a country, and it was never terribly difficult to make a gun with simple machine tools. But now their production has become nearly impossible to regulate. With 3D metal printers, people can now make weapons that are indistinguishable from those purchased in stores.

    But, even if homemade guns had serial numbers, that still wouldn’t help law enforcement solve crimes. TV shows such as “Law & Order” do not reflect reality.

    In theory, if criminals leave registered guns at a crime scene, the serial numbers can be used to trace the weapons back to the perpetrators.

    But, in real life, guns are only left at the scene of a crime when gunmen have been seriously injured or killed. With both the criminal and the weapon present at a scene, police can solve these crimes without registration. In the exceedingly unusual instances where registered guns are left at the scene, they aren’t registered to the person who committed the crime. 

    Police in Hawaii, Illinois, Pennsylvania, and New York have had registration systems in place for decades but can’t point to any crimes that this has helped them to solve. Even entire countries such as Canada haven’t had success. 

    New York and Maryland spent tens of millions of dollars compiling a computer database that contained the unique ballistic “fingerprints” of each new gun sold over a 15-year period. Even these states, which strongly favor gun control, eventually abolished their systems because they never solved a single crime.

    Despite Biden’s claims, his new ghost gun regulations are no more useful. Combined with Biden’s zero-tolerance policy for any paperwork mistakes by gun dealers, which has put thousands of licensed dealers out of business, this new rule is quite nefarious. Biden wants to put gun dealers out of business if they make any paperwork mistake, no matter how trivial or inconsequential. With each part of a gun having a different serial number, just transferring a barrel from one gun to another requires redoing all the paperwork on both guns. Biden is adding significant costs to gun dealers and manufacturers and increasing the likelihood of mistakes that would put them out of business.

    There is a possible argument for using serial numbers for tax purposes, to allow for easier proof of whether a gun has been taxed. The 1934 National Firearms Act imposed taxes on certain weapons, such as machine guns. But licensed dealers can still make sure that guns are properly taxed when sold, just as sales taxes are imposed on items at any other store.

    The Supreme Court’s decision on Monday isn’t the final word. But the real question is this: Why do Democrats keep pushing a policy that costs so much and has no crime-reducing benefits? Someday, knowing who owns guns will help them to target their confiscation efforts. Mass registration will set the stage for future gun bans.

    Tyler Durden
    Mon, 10/23/2023 – 19:40

  • Here's What You Need To Earn To Own A Home In 50 American Cities
    Here’s What You Need To Earn To Own A Home In 50 American Cities

    Once a fundamental part of the American dream, the ability to own a home is drifting farther and farther away for many Americans.

    But, as Visual Capitalist’s Pallavi Rao details below, between skyrocketing prices, stagnating wages, and now rising interest rates, the deck seems to be increasingly stacked against home ownership.

    Using May 2023 data tabulated by Home Sweet Home, we map out the annual salary needed to afford a 30-year mortgage (at 6.37%) to buy a home in America’s 50 most populous metropolitan areas.

    The monthly minimum mortgage payment includes taxes and insurance as well, and is capped at roughly one-third of the income. This analysis also assumes that the homeowner will put down a 20% down payment.

    The Least and Most Affordable American Cities to Own a Home

    At the top of the list, and at the very west of the country, San Jose is the least affordable city to own a home for the average American.

    One would have to earn at least $374,000 a year to afford a $1.6 million dollar home in the city.

    To put those numbers into perspective, the median American annual income is $75,000, about one-fifth what’s required to buy a home in San Jose.

    Here’s a look at the annual earnings needed to afford a home in all 50 largest cities in the U.S., ranked from least to most affordable.

    Rank Metro Area State Median Home Price Annual Salary
    1 San Jose California $1,618,400 $373,696
    2 San Francisco California $1,192,600 $282,167
    3 San Diego California $880,000 $209,110
    4 Los Angeles California $746,800 $181,106
    5 Seattle Washington $699,300 $170,340
    6 Boston Massachusetts $644,400 $165,239
    7 New York City New York $577,300 $160,233
    8 Denver Colorado $636,100 $150,622
    9 Washington, D.C. N/A $557,200 $139,911
    10 Miami Florida $560,000 $137,574
    11 Portland Oregon $556,800 $136,147
    12 Riverside/San
    Bernardino
    California $550,000 $133,607
    13 Austin Texas $467,900 $128,995
    14 Sacramento California $500,000 $125,304
    15 Salt Lake City Utah $522,700 $122,717
    16 Providence Rhode Island $417,000 $112,281
    17 Orlando Florida $419,900 $104,772
    18 Dallas Texas $372,400 $103,460
    19 Phoenix Arizona $439,700 $103,112
    20 Raleigh North Carolina $420,000 $102,572
    21 Las Vegas Nevada $431,400 $101,310
    22 Tampa Florida $390,000 $97,387
    23 Minneapolis Michigan $361,500 $94,466
    24 Hartford Connecticut $314,900 $93,861
    25 Charlotte North Carolina $387,200 $93,735
    26 Jacksonville Florida $370,000 $93,422
    27 Baltimore Maryland $357,800 $93,378
    28 Nashville Tennessee $385,800 $93,168
    29 Chicago Illinois $321,000 $92,868
    30 Houston Texas $327,000 $91,826
    31 Milwaukee Wisconsin $339,600 $89,752
    32 Atlanta Georgia $354,300 $89,198
    33 Richmond Virginia $362,300 $88,769
    34 San Antonio Texas $320,500 $88,683
    35 Philadelphia Pennsylvania $315,300 $87,293
    36 Virginia Beach Virginia $313,200 $79,336
    37 Kansas City Missouri $291,000 $76,147
    38 Columbus Ohio $284,700 $76,133
    39 Indianapolis Indiana $289,300 $71,409
    40 New Orleans Louisiana $265,200 $68,946
    41 Memphis Tennessee $268,600 $68,005
    42 Birmingham Alabama $276,500 $67,773
    43 Cincinnati Ohio $252,200 $66,260
    44 Buffalo New York $206,800 $63,386
    45 St Louis Missouri $231,100 $63,260
    46 Detroit Michigan $227,000 $62,758
    47 Louisville Kentucky $246,000 $62,741
    48 Oklahoma City Oklahoma $227,300 $62,161
    49 Cleveland Ohio $191,400 $55,515
    50 Pittsburgh Pennsylvania $175,000 $50,316
      National   $371,200 $97,204

    Other Californian cities, San Francisco (ranked 2nd), San Diego (3rd), and Los Angeles (4th) all require an annual income of at least $180,000 to attempt home ownership within their metropolitan boundaries.

    Boston (ranked 6th) and New York (ranked 7th) represent unaffordability on the East Coast, both requiring at least $160,000 a year to buy homes there.

    It’s not just the coasts that are expensive however. To buy a home in Denver (ranked 8th) and Salt Lake City (15th) means earning more than $120,000 a year.

    However, cities in the Midwest and South, like Pittsburgh, Detroit, Oklahoma City, and Louisville, are far more affordable, requiring less than $63,000 a year to buy a home.

    Interest Rates Rock Home Ownership Chances

    Aside from the obvious price differences in housing markets, a key factor that has elevated income requirements across the board is the rapid rise in interest rates in the last year. In fact the average 30-year mortgage has pushed past 7%, the highest it’s been since the 2000s.

    This means that while the median price of a house in San Jose has actually come down between 2022 and 2023, the minimum monthly payment has increased from $7,717 to $8,720 this year.

    Country Assistance (USD) Top Activity
    🇦🇫 Afghanistan $1.5 billion Humanitarian Assistance
    🇪🇹 Ethiopia $1.4 billion Emergency Food Assistance
    🇯🇴 Jordan $1.3 billion Cash Transfer
    🇾🇪 Yemen $1.1 billion Emergency Food Assistance
    🇸🇸 South Sudan $1.0 billion Emergency Food Assistance
    🇨🇩 DRC $891 million Emergency Food Assistance
    🇸🇾 Syria $844 million Humanitarian Assistance
    🇳🇬 Nigeria $828 million Global Health Supply Chain
    🇨🇴 Colombia $761 million Counter-Narcotics
    🇸🇩 Sudan $620 million Emergency Food Assistance

    So to afford a median-priced home in the country, an American needs to earn closer to $100,000 a year, up from $75,500 in 2022. And even then, they would be priced out of owning a home in nearly half of the 50 largest cities in the country.

    As a result Americans may yet further delay home ownership. Renting is now a far more attractive option, thanks to the biggest difference between rent and mortgages in over 50 years.

    Tyler Durden
    Mon, 10/23/2023 – 19:20

  • Illinois Hands Out $536 Million In Tax Credits For 2,600 Jobs, Beneficiary Is China
    Illinois Hands Out $536 Million In Tax Credits For 2,600 Jobs, Beneficiary Is China

    Authored by Mike Shedlock via MishTalk.com,

    Illinois is paying over $206,000 per job for 2,600 jobs. The primary beneficiary is a Chinese company known for stealing technology.

    Chinese Companies and Your Tax Dollars

    Illinois Gov. J.B. Pritzker doles out $536 Million in tax credits and other incentives to lure Gotion, a battery firm that no other states wanted.

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

    The Wall Street Journal comments on Chinese Companies and Your Tax Dollars

    It isn’t easy luring corporations to Illinois these days, so Gov. J.B. Pritzker celebrated when the state landed a big electric-vehicle battery plant in September. The real winner, however, is Gotion, the Chinese company that is collecting taxpayer financing to subsidize its EV manufacturing.

    Mr. Pritzker boasted that the new $2 billion factory would bring 2,600 green jobs to the Land of Lincoln and represents “the most significant new manufacturing investment in Illinois in decades.” The company’s decision was helped by a $536 million Illinois subsidy package, including $213 million in tax benefits, a 30-year property tax freeze and $125 million from the state-lending program Invest in Illinois.

    In a Sept. 13 letter to Treasury Secretary Janet Yellen, Reps. Mike Gallagher (R., Wis.) and John Moolenaar (R., Mich.) noted that Gotion “has direct ties to the CCP [Chinese Community Party] and state-owned financial institutions” and has been part of a Chinese program the FBI has flagged for “theft of trade secrets and economic espionage.”

    That seems worth examining, but who will do it, if not Mr. Pritzker? The Committee on Foreign Investment in the United States (CFIUS) has said Gotion’s projects don’t fall under its jurisdiction.

    In January 2023, Virginia Gov. Glenn Youngkin turned away a Ford factory that was partnering with Chinese battery maker CATL, on the grounds that the company was a “Trojan horse” for Beijing. It set up in Michigan instead, but on Sept. 25, Ford said it paused the project until it was “confident about our ability to competitively operate the plant.”

    Open for Business

    Mr. Pritzker called Gotion’s arrival “the most recent proof that we are in a new paradigm. Illinois is on the rise, and we’re open for business.”

    Open to leave is more like it. Numerous corporations are voting with their feet due to Illinois’ high-crime and high-tax reality.

    TTX Joins Major Chicago Leaving Chicago

    The Illinois Policy Institute reports TTX Joins Major Chicago Leaving Chicago

    Freight railroad car company TTX is moving its headquarters from Chicago’s West Loop to North Carolina.

    Last year major corporations such as Caterpillar, Citadel, Boeing and Tyson Foods announced relocations out of the Chicago area. Guggenheim Partners more quietly made moves to leave the city and join fellow investment firm Citadel in Miami.

    Hoot of the Day

    Illinois is paying over $206,000 per job created to a company the FBI has flagged for “theft of trade secrets and economic espionage.” And Governor Pritzker is bragging about it.

    It’s “proof of a new paradigm,” said Pritzker. Indeed.

    Chicago’s Problem is Crime, the Mayor’s Solution is City-Run Grocery Stores

    In case you missed it, please see Chicago’s Problem is Crime, the Mayor’s Solution is City-Run Grocery Stores

    If you are a store owner in Chicago suffering huge losses to theft or if you are an individual tired of the crime and piss poor public schools, I have a suggestion: leave.

    But think about where your going. Leaving Chicago isn’t enough. I advise leaving the state.

    Reserve your U-Haul well in advance. Recall that It Takes 3 Weeks to Escape Illinois, at least it did for us because all of the one-way U-Haul rentals were headed out.

    Tyler Durden
    Mon, 10/23/2023 – 19:00

  • Russia Accuses US Of Stoking "Escalation" By Mideast Force Build-Up As Pentagon Blames Iran
    Russia Accuses US Of Stoking “Escalation” By Mideast Force Build-Up As Pentagon Blames Iran

    Update(1845ET): Russia has weighed in strongly against the additional US warships recently sent by the Pentagon to the Middle East region, saying this heightened US presence only serves as a risk of “escalation” of the conflict in Gaza.

    Russian Foreign Minister Sergei Lavrov said Monday during a meeting Tehran that “the more a state takes this kind of proactive measures, the greater the risk and the danger of an escalation of the conflict”. He called out Washington as “already among the countries intervening the most” since the October 7 Hamas terror attack. 

    The same day, the Pentagon said it believes Iran-backed groups in the region are planning to ramp up attacks on US forces in the region. This came amid continuing sporadic drone and missile strikes against US bases in Syria and Iraq.  According to a fresh CNN report:

    There are “red lights flashing everywhere,” a US official in the region told CNN.

    Officials said that at this point, Iran appears to be encouraging the groups rather than explicitly directing them. One official said Iran is providing guidance to the militia groups that they will not be punished – by not getting resupplied with weaponry, for example – if they continue to attack US or Israeli targets.

    On Monday, National Security Council spokesperson John Kirby said there is “a very direct connection between these groups” and the Iranian Revolutionary Guard Corps, and he said the US is “deeply concerned about the potential of any significant escalation of these attacks in the days ahead.”

    Kirby added in his comments, “Iran’s goal is to maintain some plausible deniability here, but we are not going to allow them to do that.”

    Meanwhile, yet more confusing statement and mixed signals from the US Commander-in-Chief at these crucial and dangerous moments…

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

    And there was this strange moment during a press briefing Monday: 

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

    China also weighed in Monday, offering that it is willing to “do anything” to restore peace, but emphasized that “prospects are worrying” – according to China’s Middle East special envoy Zhai Jun. 

    Below: Hamas released video of the two elderly women released from captivity today. The Israeli government has confirmed the handover, and they are now undergoing evaluation in a Tel Aviv hospital:

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

    * * *

    Update(0350ET): Hamas has announced the release of two more hostages, bringing the total numbered free since they were kidnapped Oct.7 to four. Al Jazeera is reporting, “The latest release of two Israeli captives from Gaza – both women – follows the release late last week of two US citizens.”

    The newly freed women have been identified as 79-year old Nurit Cooper and 85-year old Yocheved Lifshitz.

    Image source: Times of Israel

    Hamas has reportedly demanded fuel in release for more hostages, given electricity has been out across the strip, and fuel is needed to generate power locally. Israel has reportedly countered that all hostages must be freed for deliveries to be allowed into Gaza. This has predictably led to a breakdown in negotiations, which have been mediated by Qatar: 

    * * * 

    Update(1235ET): It has become clear at this point that Israel is stalling its ‘imminent’ ground invasion of Gaza in order to buy more time to negotiate for the release of hostages, now numbered at 222 in Hamas/PIJ captivity. As we detailed below, the White House is putting pressure on Tel Aviv to delay, also no doubt on fears that a full assault will trigger a war with Hezbollah in the north. From there, things could spin out of control, also with Russian, Iranian, and Chinese military assets positioned in the region in addition to an American carrier strike group.

    The New York Times is reporting Monday morning that Hamas could be preparing to release 50 hostages with dual citizenship, amid negotiations mediated by Qatar:

    The U.S. wants more time for hostage negotiations. On Friday, the U.S. secured the release of two American hostages, with Qatar’s help. Israel believes Hamas may release about 50 hostages who are citizens of another country as well as Israel, but a ground invasion could make hostage releases less likely.

    According to more from the NY Times:

    A senior Israeli military official said that based on conversations between the United States and Qatar, Hamas could possibly release about 50 dual nationals separate from any broader deal.

    The repeated delays also reflect a growing tension between Mr. Netanyahu and Mr. Gallant, his defense minister, who supports a broad military operation that would also include Hezbollah, the powerful militia in Lebanon.

    Al-Arabiya has separately issued a headline saying that the hostages will be released “within hours”.

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

    If this major hostage release does materialize, it is likely to create conditions that stall an IDF ground invasion further.

    * * *

    The United Nations has revised its grim figure of the rising death toll from Israel’s bombardment of Gaza, saying that it has surpassed 5,000 as of Monday. It stands at 5,087. Separately, over 90 Palestinians have been killed in escalating West Bank violence, which over the weekend included Israel launching a rare airstrike on Jenin. Hamas and Palestinian Islamic Jihad (PIJ) are still holding at least 222 Israeli and foreign captives – a number which has again been revised upward.

    European Union foreign ministers are meanwhile gathered in Brussels for an urgent meeting to take up the contentious issue of a ceasefire. UN secretary-general Antonio Guterres has been calling on world bodies to back a ceasefire. In response, EU foreign policy chief Josep Borrell said, “Personally, I think that a humanitarian pause is needed in order to allow the humanitarian support to come in and be distributed, seeing that half of the population of Gaza has been moving from their houses.”

    Image: Flash90/Times of Israel

    Bloomberg is reporting Monday morning that EU leaders are set to endorse a call for a “humanitarian pause”. “The European Council supports the call of UNSG (U.N. Secretary-General Antonio) Guterres for a humanitarian pause in order to allow for safe humanitarian access and aid to reach those in need,” a draft statement of the summit reads.

    But Washington, Israel’s staunchest supporter, is not expected to back a ceasefire – despite reports President Biden has sought for Israel’s military delay the expected imminent ground invasion, in order to buy more time to negotiate the freedom of more hostages.

    Secretary of State Antony Blinken in the Sunday news shows made this clear. Margaret Brennan, the host of CBS News’s “Face the Nation,” asked him, “UNICEF says 1,524 children have been killed in the Gaza Strip during these bombings. Why isn’t the US calling for at least a temporary ceasefire?

    Blinken then claimed that children dying on either side has hit him “right in the heart” – but he stopped short of directing any criticism at Israel’s indiscriminate and unrelenting bombing campaign. Instead, he defended it:

    “Israel has to do everything it can to make sure this doesn’t happen again,” Blinken said in reference to October 7 Hamas cross-border attack. “Freezing things in place where they are now would allow Hamas to remain where it is and to repeat what it’s done some time in the future. No country could accept that.”

    He then cited unverified reports that Hamas has actively blocked Palestinians who are also American citizens from leaving the Gaza Strip. “We’ve had people come to Rafah, the crossing with Egypt. And to date, at least, Hamas has blocked them from leaving, showing once again, its total disregard for civilians of any kind who are — who are stuck in Gaza,” Blinken said. “So really, the ball is in Hamas’ court, in terms of letting people who want to leave, civilians from third countries, including Americans get out of Gaza.”

    There are a reported up to 600 Americans stuck in Gaza, with one Palestinian-American telling NBC that “America’s not helping us, Biden’s not helping us, the embassy is not helping us.”

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

    The United States is still bolstering its military presence in Middle East waters, readying for any contingency, even as it’s said to be pressing for furthering back-channel negotiations and delaying an all-out Israeli assault

    It was becoming increasingly clear Monday that the U.S. wants Israel to not only allow more humanitarian assistance into Gaza, but for the country to let ongoing negotiations over the release of hostages held by Hamas to continue before it launches a ground invasion of the Palestinian territory. Israel said Monday that Hamas was still holding 222 people captive.

    Two sources told CBS News the U.S. has sought to slow Israel’s plans for a ground invasion in order to prioritize the release of hostages and the distribution of aid, a message Washington is said to have been conveying primarily through defense channels.

    The Pentagon is calling its moving two aircraft carrier strike groups into regional waters an act of “deterrence”

    Secretary of Defense Lloyd Austin had announced Saturday, “Following detailed discussions with President Biden on recent escalations by Iran and its proxy forces across the Middle East Region, today I directed a series of additional steps to further strengthen the Department of Defense posture in the region.” He added: “These steps will bolster regional deterrence efforts, increase force protection for U.S. forces in the region, and assist in the defense of Israel.”

    The White House has Iran in mind, and its proxies Hezbollah and Shia Houthi rebels in Yemen, the latter who days ago tried to fire missiles on Israel, but which were intercepted by a US warship off Yemen’s coast. US THAAD and Patriot missile batteries have been sent to Israel.

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

    “This is not what we want, not what we’re looking for. We don’t want escalation,” Blinken said. “We don’t want to see our forces or our personnel come under fire. But if that happens, we’re ready for it.” And Austin simultaneously affirmed the statements, saying “what we’re seeing is a prospect of a significant escalation of attacks on our troops and our people throughout the region.”

    It’s clear Hezbollah has held off committing itself to a major war with Israel, which could very well happen the moment the IDF mounts a major ground assault into Gaza. Hezbollah’s arsenal, with the help of Iran, is far superior to that of Hamas’, and is said to include tens of thousands of rockets of varying sizes.

    There’s still been regular exchange of rocket and mortar fire, with Israeli sources reporting Monday that the Iron Dome intercepted an inbound drone from Lebanon via the sea. It was intercepted over Ein Hamifratz, south of Acre. At this point, several dozens of Israeli towns and communities have been evacuated from near the northern border.

    Tyler Durden
    Mon, 10/23/2023 – 18:45

  • Trust In Mass Media Craters To Record Low As Americans 'Wake-Up' From Matrix
    Trust In Mass Media Craters To Record Low As Americans ‘Wake-Up’ From Matrix

    Americans’ confidence that mass media – such as newspapers, TV, and radio – will report the news fairly and balanced plummeted to historic lows not seen since 2016, according to the latest annual Gallup survey of trust in US institutions.

    Gallup survey from Sept. 1-23 reveals: 

    • 29% of US adults have “not very much” trust in the media.

    • A record-high 39% of US adults have “none at all” trust in the media.

    • The current 39% with no trust is the highest on record, surpassing the previous by one percentage point. This percentage is 12 points higher than the 2016 reading.

    • In 2016, sharp criticism of the media came from then-presidential candidate Donald Trump.

    • The current view of the media is the grimmest in Gallup’s history.

    • In 2016, the most common sentiment among US adults was “not very much” trust at 41%.

    A half-century of Gallup data shows Americans’ trust in the media has rapidly declined. 

    There is a massive political gap in the trust of corporate media. About 58% of Democrats trust the media, while only 11% of Republicans feel the same. 

    “This low confidence reading for the fourth estate comes at a time when trust in each of the three branches of the federal government is also low,” Gallup pointed out. 

    In June, Gallup survey data for trust in TV news and newspapers also slid to a near-record low, as well as a survey last December that found record-low-tying ratings of the honesty and ethics of journalists. 

    Souring distaste for mass media reflects that Americans are learning their news flow has been manipulated by the censorship-industrial complex, which is run by political and technological elites. 

    The Twitter Files, state attorneys general lawsuits, and investigative reporters have revealed the expanding network of government agencies, academic institutions, and nongovernmental organizations that actively censor citizens for talking about non-approved government narratives, such as Covid, vaccines and Hunter Biden’s business deals. These elites use corporate media to twist the truth and keep the masses locked in the ‘matrix.’

    These Six Companies Control Much of US Media

    However, the days of censorship in mass media are limited. The emergence of the parallel economy is fostering new capital that is seeding new media ventures, such as the Tucker Carlson on X. The success already on X has CNN and even Fox News envying Carlon’s views in the hundreds of millions. 

    Tyler Durden
    Mon, 10/23/2023 – 18:40

  • Here's Where The US Government Is Warning Americans Not To Travel
    Here’s Where The US Government Is Warning Americans Not To Travel

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    After the outbreak of war between Israel and Hamas that has increased tensions across the Middle East, the U.S. State Department has issued a worldwide caution alert for Americans traveling abroad.

    A State Department map shows worldwide travel alerts. Countries marked in dark red are places where Americans should not travel. (U.S. State Department/Screenshot via The Epoch Times)

    The alert was issued because of “increased tensions in various locations around the world, the potential for terrorist attacks, demonstrations, or violent actions against U.S. citizens and interests.” Before that update, the most recent worldwide caution advisory was sent out in 2022 after a U.S. strike killed al-Qaeda chief Ayman al-Zawahiri.

    The State Department issues travel advisory levels for more than 200 countries, with advisories ranging from Level 1 to Level 4. Generally, Level 4 countries have a high risk of unrest, terrorism, or conflict, which means that people likely shouldn’t travel there, whereas Level 1 countries mean that U.S. citizens should exercise normal precautions when traveling.

    Countries With Level 4 Alerts

    At least 21 countries around the world have a Level 4 advisory; they include Haiti, Russia, Ukraine, North Korea, Belarus, Venezuela, Burma (also known as Myanmar), Iran, Iraq, Afghanistan, Syria, Somalia, Yemen, and Israel, among others. A number of African countries also are under the Level 4 advisory.

    The State Department recently issued the Level 4 advisories for Lebanon and Israel’s West Bank and Gaza because of the ongoing conflict with Hamas, a designated terrorist group. It came after Hamas attacked multiple areas in Israel earlier this month, killing hundreds of civilians and leading to an extensive Israeli bombing campaign targeting Gaza, the area that Hamas controls.

    As for Lebanon, there have been reports of fighting and airstrikes around the Israel–Lebanon border area, while the Iran-backed Lebanese group Hezbollah—also considered a terrorist organization by the State Department—has issued warnings about the conflict spreading farther.

    An Israeli soldier walks on a Merkava tank at a position in an undisclosed location on the border with Lebanon on Oct. 22, 2023. (Jalaa Marey/AFP via Getty Images)

    Warnings have long been issued for citizens traveling to Iran, where U.S. nationals are at risk for “arbitrary arrest and detention.” The United States also has long had Iraq on its Level 4 list, warning that there’s a high risk of kidnapping, terrorism, and armed conflict. Nearby Syria—which recently endured a decade-long civil war—also is under the same warning, with armed conflict, terrorism, kidnapping, civil unrest, and risk of unjust detention being significant, the agency warns.

    Ukraine and Russia, meanwhile, have been embroiled in a conflict for nearly two years. The State Department says that Ukraine is on the Level 4 list because of the Russian invasion, but it added that civil unrest and crime are also factors.

    The advisory for Russia says that harassment of U.S. citizens by Russian officials and arbitrary law enforcement as well as the ongoing war are reasons for the Level 4 alert. A similar advisory was issued for Belarus, a country of about 10 million located next to Ukraine and Russia.

    Western Travel

    In the Western Hemisphere, U.S. officials say that Americans should stay away from Venezuela, a country that has been long mired with crime, kidnappings, civil unrest, and arbitrary detentions by officials loyal to socialist dictator Nicolás Maduro.

    Officials this year, meanwhile, have issued a number of warnings about traveling to Haiti, considered the poorest country in the Americas, because of kidnapping, crime, civil unrest, and poor health care infrastructure, while the State Department has ordered the departure of family members of U.S. government workers. It comes as the country has effectively had no government since the assassination of its president in 2021, leading to a spike in criminal gang activity.

    Of note, parts of Mexico are under the Level 4 warning, including Sinaloa, Tamaulipas, and Guerrero states largely because of crime and kidnappings. Meanwhile, many states in northern Mexico are under Level 3, which indicates that Americans should reconsider plans to travel there.

    The State Department notes that Americans shouldn’t travel to North Korea, an isolated communist country that’s still technically at war with the United States. The Level 4 distinction, it says, is because of the “continuing serious risk of arrest and long-term detention of U.S. nationals,” adding that U.S. passports aren’t valid in the country. A U.S. soldier, Travis King, fled across the border to North Korea in July but was returned to the United States in recent days and now faces charges.

    The agency recommends that Americans not travel to Afghanistan because of “armed conflict, civil unrest, crime, terrorism, and kidnapping,” coming more than two years after the Taliban took over the country when the U.S. military pulled out after the decades-long conflict following the Sept. 11, 2001, terrorist attacks. The U.S. Embassy in Kabul stopped operations in August 2021 as the Taliban took over swaths of the country, leading to a hasty evacuation of U.S. citizens and some Afghan nationals.

    Yemen has long been on the State Department’s Level 4 risk list, in part because of the years-long war as well as food insecurity and the risk of cholera. Terrorism, civil unrest, health risks, land mines, armed conflict, and kidnappings were cited by the State Department in the alert.

    Other countries on the Level 4 list include Somalia, Mali, Libya, the Central African Republic, Burkina Faso, Sudan, South Sudan, and Niger.

    The State Department currently lists China as Level 3, stating, “Reconsider travel to Mainland China” because of Chinese Communist Party officials’ “arbitrary enforcement of local laws, including in relation to exit bans, and the risk of wrongful detentions.”

    Tyler Durden
    Mon, 10/23/2023 – 18:20

  • Huge San Fran Apartment Building Reportedly Loses 50% Of Value As CRE Market Tanks
    Huge San Fran Apartment Building Reportedly Loses 50% Of Value As CRE Market Tanks

    Soaring interest rates and a slide in bank lending following March’s regional banking meltdown have pressured the commercial real estate sector, especially office towers nationwide. But the stress might be spreading as a new report warns one of San Francisco’s largest apartment buildings has sustained a near 50% collapse in valuation in just five years, with risks of imminent default. 

    Local paper San Francisco Chronicle, citing new data from real estate data firm Trepp, said the 754-unit apartment tower, called “NEMA,” located at 10th and Market Street in the downtown area, was valued at $543.6 million in 2018 but is now worth around $279 million. This means in just five years, the building’s value crashed a whopping 48.6%. 

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

    Crescent Heights, the building owner, is at risk of imminent default because its $384 million mortgage exceeds the current $279 million value by $105 million. In August, Trepp said the building owner warned, “The property’s cash flow can no longer cover the monthly debt service.” 

    High interest rates plus sliding property valuations will keep refinancing conditions strained for Crescent Heights. A September inspection report said the building owner would need to make significant investments to maintain “good” conditions in the building. As of 1Q23, NEMA had 92% occupancy. 

    San Francisco landlords, especially office tower ones in the downtown area, have been battered by high interest rates, and a crime-ridden metro area imploding under failed progressive policies, such as ‘defund the police,’ which has sparked a tsunami in crime. Businesses and people are moving out of the city to safer areas. 

    In recent quarters, several office towers, malls, and hotels in the downtown area have either defaulted or sold at a massive discount.

    We first told readers in early March during the regional banking fiasco: “CRE Nuke Goes Off With Small Banks Accounting For 70% Of Commercial Real Estate Loans.”

    In recent weeks, Goldman interviewed real estate legend Scott Rechler, Chairman and CEO of RXR Realty, who provided the understanding the CRE crisis is only just beginning

    Tyler Durden
    Mon, 10/23/2023 – 18:00

Digest powered by RSS Digest

Today’s News 22nd October 2023

  • Escobar: Russia's Neutrality Ballet On Israel-Palestine
    Escobar: Russia’s Neutrality Ballet On Israel-Palestine

    Authored by Pepe Escobar via The Cradle,

    Photo Credit: The Cradle

    Is it possible that the philo-Semitic Russian President Vladimir Putin is slowly but surely re-evaluating his geopolitical assessment of Israel? To call this the key riddle in Moscow’s corridors of power is actually an understatement. 

    There are no outward signs of such a seismic shift – at least when it comes to the officially “neutral” Russian position on the intractable Israel-Palestine drama.

    Except for one stunning statement last Friday at the Commonwealth of Independent States (CIS) Summit in Bishkek, when Putin blasted Israel’s “cruel methods” employed to blockade Gaza, and compared it with “the siege of Leningrad during World War Two.”

    “That’s unacceptable,” declared the Russian president, and warned that when all of Gaza’s 2.2 million civilians “have to suffer, including women and children, it’s hard for anyone to agree with this.”

    Putin’s comments may have been one hint at the changes underway in the frustratingly opaque Russia-Israel relationship. A close second is this very important article published last Friday on Vzglyad, a security strategy website close to the Kremlin, diplomatically titled “Why Russia remains neutral in the conflict in the Middle East.”   

    It’s crucial to note that only six months ago and mirroring a near consensus among Russia’s intelligence community, Vzglyad editors were calling for Moscow to shift its considerable political weight toward supporting the number one issue for the Arab and Islamic worlds.  

    The article noted the key points Putin voiced in Bishkek: there’s no alternative to negotiations; Tel Aviv was subjected to a brutal attack and has the right to defend itself; a real settlement is possible only via an independent Palestinian state with its capital in East Jerusalem.  

    The Russian president favors the UN’s original “two states” solution and believes that a Palestinian state should be established “by peaceful means.” But, as much as the conflict was “a direct result of the failed policy of the United States in the Middle East,” Putin rejects Tel Aviv’s plans to launch a ground operation in Gaza. 

    This qualified hedging is certainly not evidence of Putin swinging to what is a near consensus among the General Staff, the siloviki in several intel agencies, and his ministry of defense: They consider that Israel may be a de facto enemy of the Russian Federation, allied with Ukraine, the US and NATO.

    Follow the money

    Tel Aviv has been extremely cautious not to frontally antagonize Russia in Ukraine, and this may be a direct consequence of the notoriously cordial relations between Putin and Israeli Prime Minister Benjamin Netanyahu.  

    Yet way more consequential than Israel on the geopolitical chessboard are Moscow’s evolving relations with Arab states today, especially OPEC+ partner Saudi Arabia which has helped thwart western efforts to control oil prices.

    Also highly central to Russia’s regional policymaking is its strategic partnership with Iran, which has reaped dividends in Syria and the Caucasus, and which helps contain US expansionism. Finally, Moscow’s complex, multi-layered, back-and-forth with Ankara is crucial to Russian economic and geopolitical ambitions in Eurasia.  

    All three West Asian powers are Muslim-majority states, important affiliations for a multipolar Russia that hosts its own sizable Muslim population.

    And for these three regional actors, without distinction, the current collective punishment of Gaza transgresses any possible red line.     

    Israel is also not that significant anymore in Moscow’s financial considerations. Since the 1990s, immense quantities of Russian funds have been transiting to Israel, but now, a substantial portion is returning right back to Russia. 

    The notorious case of billionaire Mikhail Friedman illustrates this new reality well. The oligarch quit his home in the UK and moved to Israel a week before the launch of Al-Aqsa Flood – which in turn had him hastily grab his Russian passport and head to Moscow for safety. 

    Friedman, who leads the Alfa Group with major interests in telecom, banking, retail, and insurance, and is a wealthy survivor of the 1998 financial crisis, is suspected by the Russians of “contributing” as much as $150 million to the enemy regime in Kiev.

    The reaction by Duma Speaker Vyacheslav Volodin could not have been sharper – or less concerned about Israel’s sentiments on the matter: 

    “Anyone who left the country and engaged in reprehensible acts, celebrating gunfire on Russian territory and wishing victory to the Nazi Kiev regime, should realize they are not only unwelcome here, but if they do return, Magadan (a notorious transit port to the gulag in the Stalin era) is waiting for them.”   

    Russophobia meets collective punishment

    As the collective west resorted to a monomaniacal “We are all Israelis now,” the Kremlin’s strategy is to visibly position itself as the mediator of choice in this conflict – not only for the Arab and Muslim worlds but also for the Global South/Global Majority.

    That was the purpose of this week’s Russian draft resolution at the UN Security Council calling for a ceasefire in Gaza, which was predictably shot down by the usual suspects. 

    Three permanent Security Council members – US, UK and France, plus their neo-colony Japan – voted against it. To the rest of the world, this looked like exactly what it was: irrational western Russophobia and US puppet states validating Israel’s genocidal bombardment of civilian-dense Gaza.  

    Off the record, intelligence analysts point to how the Russian General Staff, the intel apparatus, and the ministry of defense seem to be organically aligning with global sentiments on Israel’s excessive aggressions.  

    The problem is that official and public Russian criticism of Netanyahu’s serial, psychotic incitation to violence, alongside his rightwing National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, has been non-existent. 

    Moscow insiders insist that the Kremlin’s official “neutral” position is frontally clashing with its defense and security agencies – especially GRU and SVR – which will never forget that Israel was directly involved in the killing of Russians in Syria. 

    That view has strengthened since September 2018 when Israel’s Air Force used an Ilyushin-20M electronic reconnaissance plane as cover against Syrian missiles, causing it to be shot down and killing all 15 Russians on board.    

    This silence in the corridors of power is mirrored by silence in the public sphere. There has been no debate in the Duma about the Russian position on Israel-Palestine. And no debate at the Security Council since early October.

    Yet a subtle hint was offered by Patriarch Kirill, the leader of the Russian Orthodox Church, who stressed that “peaceful coexistence” has a “religious dimension” and requires “just peace.” This does not exactly align with the announced ethnic cleansing of “human animals” (copyright Israeli Defense Ministry) in Gaza.  

    Along some corridors close to power, there’s an alarming rumor of an intricate shadow play between Moscow and Washington, wherein the Americans will deal with Israel in exchange for the Russians dealing with Ukraine. 

    While this would seal the west’s already ongoing process of throwing the sweaty sweatshirt actor in Kiev under the bus, the Kremlin is highly unlikely to trust any American deal, and certainly not one that would marginalize Russian influence in strategic West Asia.

    This two-state solution is dead 

    Russia’s “neutrality” ballet will continue. Moscow is impressing on Tel Aviv the notion that even within the framework of its strategic partnership with Iran, weapons that could threaten Israel – as in, ending up with Hezbollah and Hamas – will not be exported. The quid pro quo of this arrangement would be that Israel also not sell anything Russian-threatening to Kiev either. 

    But unlike the US and the UK, Russia will not designate Hamas as a terrorist organization. Kremlin Spokesman Dmitry Peskov has been very forthright on this issue: Moscow keeps its contacts with both sides; its “number one priority” is “the interest of the country’s (Russian) citizens who live both in Palestine and Israel”; and Russia will remain “a party that has the potential to participate in the settlement processes.”  

    Neutrality, of course, may reach a dead end. Overwhelmingly, for the Arab and Muslim states actively courted by the Kremlin, the dismantlement of Zionist-led settler-colonialism should be the “number one priority.”

    This implies that the two-state solution, for all practical purposes, is fully dead and buried. Yet there’s no evidence anyone, not least Moscow, is ready to admit it. 

    The views expressed in this article do not necessarily reflect those of The Cradle or ZeroHedge

    Tyler Durden
    Sat, 10/21/2023 – 23:20

  • Intelligence Failures – Again
    Intelligence Failures – Again

    Authored by Pete Hoekstra via the Gatestone Institute,

    (Image source: iStock)

    In light of the devastating and deadly terrorist attack executed by Hamas against Israel on October 7, many are correctly calling the failure to intercept and prevent the assault an “intelligence failure.” Many are especially surprised given the vaunted, basically legendary, status almost universally accorded Israel’s national security apparatus.

    This, however, is not the only recent intelligence failure, or failure by political leaders to anticipate emerging threats. According to a Brookings report examining the U.S. intelligence failure and reorganization following the 9/11 terrorist attacks against America:

    “In the aftermath of 9/11 everyone, from elected officials and national security experts to ordinary citizens had one question: how could this happen to a nation with such an enormous and expensive military and intelligence architecture?”

    Despite warnings from the U.S. Intelligence Community, the Biden administration failed to anticipate or plan for the dramatic and quick collapse of Afghanistan’s government when U.S. troops were withdrawn. And while the Intelligence Community correctly and publicly warned of Russia’s impending invasion of Ukraine, it failed to predict the tenacity of Ukrainian fighters defending their homeland and instead forecast an almost Afghanistan-style collapse in a matter of days. General Mark Milley, then Chairman of the Joint Chiefs of Staff, even warned lawmakers that “a full-scale Russian invasion of Ukraine could result in the fall of Kyiv within 72-hours and could come at a cost of 15,000 Ukrainian troop deaths and 4,000 Russian troop deaths,” according to lawmakers he briefed behind closed-doors.

    These misses once again have citizens asking if our intelligence agencies and political leaders are capable of keeping them safe. The short answer, unfortunately, is no. Terrorists and our enemies only have to be right once, while our intelligence services need to be correct 100% of the time. Just look at Pearl Harbor.

    It is not unreasonable to expect that Israeli or US intelligence should have been able to detect the 10/7 attacks on Israel ahead of time, especially so close to the 50th anniversary of the surprise Yom Kippur War in 1973. What, then, led to the failure? While Israel will certainly review its intelligence posture to determine its shortcomings, we already know some of the challenges the Intelligence Community faces on the U.S. side.

    The Middle East, Israel, Gaza, the West Bank, Iran, Syria, Hamas and Hezbollah are all high on the Intelligence Community’s radar, given the volatility of the restive region. All the same, Washington’s leadership also was not expecting the 10/7 attacks. A little more than a week prior, Biden’s National Security Advisor, Jake Sullivan, was talking-up successes in the Middle East, allowing the U.S. to focus on other areas regions of the world. The bold conclusion made by Sullivan at the time was that “the Middle East region is quieter today than it has been in two decades.”

    He could not have been more wrong. Boiling just under the surface was a terrorist attack that would result in more than 1,400 Israelis killed, at least 31 Americans killed, atrocities against Israeli civilians that include beheaded babies and babies burned alive, as well as scores of Israeli and international hostages whom Hamas terrorists forcibly abducted from Israel to Gaza, presumably being held in tunnels.

    The failure of the U.S. intelligence community has three components:

    1. It has become politically charged and lost focus on its mission protecting Americans, instead engaging in partisan politics.
    2. It continues to focus on technological intelligence collection rather than the difficult and risky world of human intelligence collection.
    3. It continues to suffer from a lack of creativity in anticipating and understanding the new threats being developed by our enemies.

    There is little doubt that the Intelligence Community has become seriously politicized. In 2016-2017, its leaders and the FBI undermined the incoming President Donald Trump by raising the specter of Russian influence over Trump. The disproven Russia hoax would go on to shadow and undermine Trump’s entire time in office.

    When Hunter Biden’s now infamous laptop was revealed, it was the FBI and former Intelligence Community leaders who actively tried to cover it up and pass it off as a Russian disinformation campaign.

    The Intelligence Community also shifted some of its focus from international threats to domestic threats — often spurious — while ignoring the real ticking time bomb of 5.6 million migrants flooding onto the United States through the southern border, in addition to at least 1.5 million known “gotaways” and an unknown number of unknown “gotaways.”

    We have also witnessed information that was accurate but which the FBI worked with social media companies to suppress, and even outright fabrications about what they claimed was disinformation, such as the Russia hoax or the authenticity of Hunter Biden’s laptop; that Catholics who attend mass in Latin are “extremists,” and that parents questioning what their children learn in public schools are “domestic terrorists.” What really happened on January 6, 2021 is still unknown.

    These efforts by the Intelligence Community all seem to target Republicans or to benefit Democrats politically — a situation that has left many conservatives rightly worried about the political weaponization of the government.

    Unfortunately, this political corruption shows no signs of abating, with the entire deep state apparently still determined to turn the Constitution on its head to “get Trump,” and with former officials such as Michael Hayden, who was head of the National Security Agency and the CIA, suggesting that Republican Senator Tommy Tuberville should be removed from the human race.

    A second major shortcoming, that was identified after 9/11 was, as mentioned, a U.S. over-reliance on the technological collection of information, such as satellites, cyber, and wiretapping. The Intelligence Community knew how to do these things and knew how to do them well. It was difficult and sophisticated work but carried far fewer risks than human espionage or developing spy networks.

    While the intelligence may have been there, our ability to fully understand it, and our analyses, missed having insights into the humans, and their way of thinking, who were behind those “zeros and ones.”

    Hamas may have exploited the reliance Western security services have on technological collection. We already know that Osama bin Laden refused to use electronic communications and relied on human couriers to convey messages. It is not unreasonable to expect that Israeli or US intelligence should have been able to detect the 10/7 attacks on Israel ahead of time The after-action intelligence review to determine how Hamas hid its operation will undoubtedly look into this, but it appears that electronic communication on the plot was limited and coded, with the few people actually knowing the full details kept to a handful to further limit communications.

    Just as the U.S. Intelligence Community did not imagine terrorists hijacking airplanes to use as missiles, it is likely the Israelis never contemplated Hamas pulling off a multipronged attack by sea, land, and air — including the use of paragliders. But that is exactly what they did. They used low-tech bulldozers and explosives to breach Israel’s border fence and then drive through the openings with trucks, motorcycles, and other equipment loaded with terrorists and weapons. Hamas fired thousands of rockets, in barrages of hundreds at a time, to overwhelm Israel’s highly touted Iron Dome counter-rocket system and, having learned lessons about the effective use of drones from the Russian invasion of Ukraine, used drone-dropped munitions to take out guard towers and surveillance cameras.

    While many of these tactics are not new — Hamas had fired tens of thousands of missiles into Israel before, attacked civilians and soldiers on the streets, and crossed the border in multiple ways — the novelty of this approach was to do all of these things at once and on a massive scale.

    The biggest U.S. intelligence failure of all so far, unfortunately, has been strenuously pretending not to know that Iran, Qatar and Turkey are the kingpins behind the current attacks by Hamas on Israel. If Iran, Qatar and Turkey are to be discouraged from continuing their malign actions destabilizing the region, the price they pay needs to be steep. Hamas. Iran, Qatar and Turkey must not be let off the hook. In addition, the US must move its military assets from Al Udeid Airbase in Qatar to the United Arab Emirates as soon as it can.

    The Qataris, instead of being grateful that a state-of-the-art airbase is on its soil protecting it, instead might think that they are doing the US a favor letting the airbase be there.

    To go just after Hamas is like targeting crime syndicate, but ignoring Al Capone. Hamas needs to be dealt with first – along with the realization that any humanitarian aid allowed into Gaza supplies Hamas, not the people for whom it was well-meaningly intended. As the journalist Caroline Glick points out, the trucks are not inspected. They might be bringing in food and water – or weapons. Sadly, even if the contents are food and water, Hamas keeps them, then sparingly doles them out to whomever they want.

    Moving forward, we once again need to examine how we do intelligence across the West. Perhaps Congress or a special commission can be established to identify the exact strengths and weaknesses of our intelligence community. It will have the old rallying cry of “never again,” just as after Pearl Harbor, the 1973 Yom Kippur War, 9/11, and now the attacks of 10/7. The Intelligence Community needs to keep its eye on actual foreign threats, develop and use all forms of intelligence collection to build a robust intelligence capability, respect the ability and creativity of our adversaries, and to discard the biased and flawed analytical tradecraft standards that have led us to where we are today. Unless these changes take place, we will remain vulnerable, uncertain of our safety and security, and stuck with the knowledge the world is a much more dangerous place than we had thought.

    Peter Hoekstra is a Distinguished Senior Fellow at Gatestone Institute. He was US Ambassador to the Netherlands during the Trump administration. He also served 18 years in the U.S. House of Representatives representing the Second District of Michigan and served as Chairman and Ranking Member of the House Intelligence Committee.

    Tyler Durden
    Sat, 10/21/2023 – 22:45

  • University Of California Professor Threatens Pro-Israel Journalists And Their Families
    University Of California Professor Threatens Pro-Israel Journalists And Their Families

    Authored by Jonathan Turley via jonathanturley.org,

    The University of California at Davis is embroiled in a controversy involving one of its faculty threatening “zionist journalists” in a violent tirade on X. UC Davis Professor (and undergraduate adviser) Jemma Decristo posted the screed on October 10th referencing the homes and family of those who support Israel as possible targets. The university is investigating the matter, but Decristo’s embrace of violence is nothing new for faculty around the country. For years, faculty members have engaged in violent rhetoric directed toward conservatives and Republicans with little response from universities.

    Decristo wrote:

    one group of ppl we have easy access to in the US is all these zionist journalists who spread propaganda and misinformation … they have houses w addresses, kids in school, they can fear their bosses, but they should fear us more.”

    At the bottom, you can see a knife emoji, an ax emoji, and three red drops of blood after saying “they should fear us more.”

    That strikes me as a rather direct and obvious threat.

    Decristo is an assistant professor of American Studies at the public school with a “focus … on the interplay between sound, race, gender and embodiment.”

    In a statement, a UC Davis spokesperson said campus leaders “reject all forms of violence and discrimination, as they are antithetical to the values of our university. We strive to foster a climate of equity and justice built on mutual understanding and respect for all members of the community.”

    The University of California system has a long history of violence and violent rhetoric from the left.

    At the University of California, Santa Barbara, feminist studies associate professor Mireille Miller-Young physically assaulted pro-life advocates and tore down their display. 

    She pleaded guilty to criminal assault, but the university refused to fire her. Instead, some faculty and students defended her, including claiming that pro-life displays constitute terrorism. The University of Oregon later honored Miller-Young as a model for women advocates.

    Around the country, faculty routinely use violent rhetoric with little push back in the media or on campus.

    We have discussed professors advocating “detonating white people,” denouncing policecalling for Republicans to suffer, strangling police officers, celebrating the death of conservativescalling for the killing of Trump supporters, supporting the murder of conservative protesters, and other outrageous statements.

    University of Rhode Island professor Erik Loomis defended the murder of a conservative protester and said he saw “nothing wrong” with such acts of violence.

    One of the most recent violent professors was Hunter College Professor Shellyne Rodríguez who was only fired after being arrested for holding a machete to the neck of a New York Post reporter and threatened to “chop you up.”

    Yet, she was not fired after she destroyed the pro-life display of a group of students.

    Since her machete attack, Rodríguez has now been hired by Cooper Union to teach its students.

    These faculty members have long been part of the radical chic of academia, including a professor recently at Cornell expressing his “exhilaration” after watching the Hamas attack on Israel.

    The response to conservatives accused of racist or insensitive comments has been quite different. We discussed how St. Joseph’s University refused to renew a contract for a professor who actually prevailed in such a free speech fight. A conservative North Carolina professor  faced calls for termination over controversial tweets and was pushed to retire. Dr. Mike Adams, a professor of sociology and criminology, had long been a lightning rod of controversy. In 2014, we discussed his prevailing in a lawsuit that alleged discrimination due to his conservative views.  He was then targeted again after an inflammatory tweet calling North Carolina a “slave state.”  That led to his being pressured to resign with a settlement. He then committed suicide  just days before his last day as a professor.

    For years, conservative and Republican faculty and students have been subjected to such violent acts or rhetoric with little support from most faculty or the media. Indeed, figures like Jennifer Rubin and Laurence Tribe recently came under fire for their comments after the massacre despite years of such attacks and false claims directed at the right.

    Universities are now facing pressure from donors to address such violent rhetoric. I continue to oppose any form of censorship for faculty or students. However, the real problem is the academic echo chamber created from decades of bias in hiring and promotion. That is unlikely to change the lack of viewpoint diversity on faculties or the purging of conservative or libertarian professors. There is no evidence that universities are prepared to take real action to address the hostile environment for many on our campuses in espousing dissenting views or values.

    Tyler Durden
    Sat, 10/21/2023 – 22:10

  • Why US Businesses Can't Wait To Get Out Of China
    Why US Businesses Can’t Wait To Get Out Of China

    Authored by Terri Wu via The Epoch Times (emphasis ours),

    Foreign investments are leaving China.

    Half of the $250 billion to $300 billion foreign bond investments since 2019 have exited, and U.S. private equity and venture capital investments in China have fallen by more than 50 percent, according to a JP Morgan report last month.

    (Illustration by The Epoch Times, Shutterstock)

    Foreign direct investment into China in the second quarter of this year reached a 25-year low at $4.9 billion, with a year-on-year decline of 87 percent, according to Chinese official data.

    Bloomberg and fDi Markets data on new investment projects—a more telling indicator of whether foreign firms are still investing in the country—show a 40 percent drop, to $74 billion in 2020 from $120 billion in 2019, and an additional 45 percent decline to $41 billion in 2022—the lowest since 2010.

    Although financial transactions are easy to track without much lag, it may take years for foreign direct investment data to reflect Western firms’ diversifying away from China.

    For this reason, Beijing might be unaware of how bad things really are as far as foreign direct investment, analysts of the Rhodium Group, a leading research firm on the Chinese economy, warned in a recent report.

    Amidst a broader structural slowdown in China’s economy, the delayed reactions could contribute to further losses in productivity and economic growth,” the report stated.

    The implied assumption here is that preventing economic losses is a priority for the Chinese Communist Party (CCP). However, some China experts challenge this.

    “It’s not that Xi Jinping and the CCP leadership hate economic growth—it’s just not a priority,” Derek Scissors, chief economist of research firm China Beige Book and a senior fellow at the Washington-based think tank American Enterprise Institute, told The Epoch Times.

    “The priority is control over the society, including the economy. So whenever there’s a trade-off between economic control and growth, they choose control,” he said.

    “And when we say, ‘Oh, you know, you could be growing faster. Why are you doing these things?’ The answer is obvious: It’s because that’s not their priority.”

    Mr. Scissors and other experts told The Epoch Times that overall economic growth isn’t at the top of the agenda for Chinese regime leader Xi Jinping. Instead, China is, by design, going through a paradigm shift in how it interacts with the global economy and is screening and filtering for foreign investors loyal to Mr. Xi.

    As a result, China’s overall political and business landscape defies past experience, they said, and Western interpretations will make the wrong assumptions on China—even more so than before.

    Communist Party leader Xi Jinping has reversed China’s integration into the rest of the world, a trend that had defined the previous two decades, according to businessman Mike Sun. (Marco Di Lauro/Getty Images)

    3 Phases of Foreign Direct Investment

    When U.S. Commerce Secretary Gina Raimondo visited China in August, she warned that the country could become “uninvestable” if the unpredictable official behavior, such as raids on U.S. firms, don’t cease. This year, Mintz Group’s Beijing office was raided in March, Bain & Co.’s Shanghai office in April, and Capvision Partners’s offices in multiple cities in May.

    The Chinese business environment for U.S. companies wasn’t always like this.

    Mike Sun, a U.S.-based businessman with decades of experience advising foreign investors and traders doing business in China, recalled that the first generation of U.S. investors visited mainland China with a pioneering spirit. He spoke to The Epoch Times using an alias to protect his business in China.

    In the early 1990s, he said a Jewish American businessman told him, “I want to be America’s Marco Polo,” referring to the Italian explorer who introduced Europeans to China. The businessman spoke fluent Mandarin and was married to a Chinese woman.

    People walk by a McDonald’s restaurant in Beijing in 1994. In the early 1990s, McDonald’s Corporation was among the pioneering U.S. businesses in China. (AFP via Getty Images)

    Back then, China was full of opportunities.

    If investing in China in those years felt like an adventure, it became a no-brainer the next decade, from 2000 to 2012. One would have been foolish not to invest in China, Mr. Sun recalled.

    The crowning glory for the communist regime was the 2008 Beijing Olympics, he said. When U.S. President George W. Bush and his family sat next to Chinese Foreign Minister Yang Jiechi at the China–United States basketball game, it became a symbol of the international community’s acceptance of the CCP.

    (Left) Then-Foreign Minister of the People’s Republic of China Yang Jiechi (L), then-U.S. President George W. Bush, former Secretary of State Henry Kissinger (2nd R), and then-First Lady Laura Bush attend a U.S.–China basketball game at the Beijing 2008 Olympic Games. (Jed Jacobsohn/Getty Images) (Right) China’s global share in manufacturing value added. (The Epoch Times)

    China had become the “world’s factory” after it joined the World Trade Organization in 2001. According to World Bank data, its share of global manufacturing value-add rose from 9 percent in 2004 to 22 percent in 2012 and 30 percent in 2022.

    But Mr. Xi’s ascension in March 2013 heralded a different decade. In 2015, the leader started his industrial “Made in China 2025” plan, aiming for global dominance in advanced manufacturing sectors such as semiconductors and new energy.

    To achieve this goal, the regime encouraged large-scale technology theft from Western countries.

    In Mr. Sun’s view, Mr. Xi has reversed China’s integration into the rest of the world, a trend that had defined the previous two decades.

    Xi doesn’t want China to be a second Russia,” Mr. Sun said.

    Between 2014 and 2016, Russia suffered a financial crisis because of the sharp price decline of crude oil, a major export, and international sanctions as a result of its annexation of Crimea. Since then, Russia’s growth prospects have remained bleak because of challenges in diversifying its main industries and ongoing Western sanctions, according to European think tank Bruegel.

    After Russia invaded Ukraine in February 2022, it was hit with more than 13,000 restrictions. The sanctions have severed Russia from advanced technology sectors abroad and forced the nation to resort again to energy commodities trading to sustain its economy growth, according to findings by the Carnegie Endowment for International Peace, a Washington-based think tank.

    Mr. Sun said China’s changes have become more apparent in the past two to three years, coinciding with the COVID-19 pandemic, during which Mr. Xi largely completed his consolidation of power.

    That’s what Meng Jun, a Chinese entrepreneur, said he experienced.

    Mr. Meng had a rubber product business with an annual revenue of $15 million. In 2021, when the rest of the world reopened, his factory in Nanning, the capital of southern China’s Guangxi Province, began to receive orders again. However, he couldn’t resume production because of the regime’s COVID-19 lockdowns.

    Initially, he was able to bribe local officials so his factory could run at night while other factories had to remain shut. But later, no one would bend the rules because the officials didn’t want to lose their jobs over the possibility that a COVID-19 case would be traced back to an unauthorized factory operating under China’s zero-COVID policy. He lost millions.

    He closed the business last year and left for the United States.

    Read more here…

    Tyler Durden
    Sat, 10/21/2023 – 21:00

  • Bidenomics Rejected: Trump Ahead In Swing States, Leads Among Young Voters
    Bidenomics Rejected: Trump Ahead In Swing States, Leads Among Young Voters

    Less than 13 months from the 2024 election, a new set of polls has delivered alarming news for backers of incumbent President Joe Biden, with voters in swing states and even younger voters giving the edge to former President Donald Trump. The key driver: voter rejection of Bidenomics

    According to a Morning Consult/Bloomberg poll, Trump is up four points among voters in seven swing states: Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin. On a state-by-state breakdown, Trump has the upper hand in five of them. He’s tied with Biden in Michigan, while Biden leads in Nevada by 3.  

    via Bloomberg/Morning Consult; poll taken Oct 5 to Oct 10

    In 2020, Biden received the electoral votes of all of those states except for North Carolina, which Trump won by 1.3%. If all other states stayed in their 2020 columns, Trump would need to take four of the seven swing states to return to the White House.  

    Swing-state voters say the economy outweighs any other factor in their voting decisions, and they’re hugely disappointed in the Biden-era economy. 49% say Biden policies have been bad for the economy, compared to 26% who see them as a positive.  

    “Almost twice as many voters in the swing states are saying that Bidenomics is bad for the economy, as opposed to good for the economy, which is a really startling fact if you’re the Biden campaign,” said Morning Consult pollster and vice president Caroline Bye. Bye couldn’t help but reveal her own bias, declaring, “Biden is not getting any credit for work he’s done on the economy.” 

    It’s not just the economy that’s dragging Biden down; swing-state voters have higher confidence in Trump in 10 out of 16 policy areas. Only where “climate change” is concerned does Biden outperform Trump by more than 10 points. Interestingly, they give a solid edge to Trump on “guns.” 

    Via Bloomberg/Morning Consult

    The independent campaign of Robert F. Kennedy, Jr is a wild card. The Bloomberg/Morning Consult poll found Biden leads Nevada by three points in a head-to-head matchup with Trump, but loses by three when other parties are included. On the other hand, Trump’s supporters are much more likely than Biden backers to view Kennedy favorably — by a whopping 46% to 29% margin.  

    Two other polls yielded more bad omens for Biden, particularly in regard to key Democratic constituencies. An Emerson College poll found voters between 18 and 29 favor Trump by 2.3%, while CNBC‘s All-America Economic Survey found sagging support for Biden among young people, blacks and Latinos. 

    Democratic pollster Jay Campbell called those results “very troubling” for Biden. Noting that those three constituencies are among the hardest hit by economic conditions, he said, “You start to think that maybe they’ve run out of patience, and it’s starting to show through in their decreasing regard for the president.”

    The CNBC survey found Biden’s disapproval rating at a personal-worst 58%, driven by a 63% disapproval rating on his handling of the economy — another low for this presidency. Respondents favored Trump in the 2024 contest by a 43% to 38% margin. 

    At PredictIt, the online, real-money prediction market where shares betting on the right outcome pay $1, speculators are still favoring Biden. However, the gap between the Biden and Trump contracts has narrowed from 18 cents on Aug 18 — in the wake of Trump’s indictment in Georgia — to just 3 cents on Thursday. 

     

    Tyler Durden
    Sat, 10/21/2023 – 20:25

  • China Has Up To 6 Warships In Mideast Waters As US Carrier Group Moves Closer To Israel
    China Has Up To 6 Warships In Mideast Waters As US Carrier Group Moves Closer To Israel

    Israel’s military has announced Saturday that it drastically stepped up airstrikes in preparation for its “next stage” of the operation against Gaza, in a statement many see as portending an imminent ground invasion.

    “We need to enter under the best possible conditions and this is what we are doing now, as the next stage of war approaches,” IDF spokesman Daniel Hagari explained after confirming, “from today, we are increasing the strikes and minimizing the danger.”

    “We will narrow the risks to our forces over the next stages. This is why we have once again urged residents of Gaza to keep moving south,” he added, in words that Israeli media also took to mean a ground assault is about to happen.

    Xinhua via AP

    One big development from earlier in day was that 20 large trucks loaded with humanitarian aid were for the first time allowed to pass into Gaza through the Rafah crossing from Egypt. 

    Controversy was then sparked by a New York Times report which claimed the aid convoy was not checked by inspectors before it went into the strip, amid allegations that weapons or ammo could be hidden in the convoy. Israel has denied the report, however

    The Coordinator of Government Activities in the Territories denies that aid entering the Gaza Strip was not checked before going in.

    “All of the equipment was checked before going into Gaza,” it says in a statement, noting that the shipment included “only water, food and medical equipment.”

    “We emphasize that Israel is able to make sure that nothing goes in or out except the aforementioned,” it adds.

    Fears are now growing that Hezbollah could fully enter the conflict, with widespread speculation that the well-armed Shia paramilitary group backed by Iran is ready to mount a full attack on northern Israel if the IDF launches a ground assault on the Gaza Strip. So far there has only been sporadic by intensifying rocket and mortar fire from south Lebanon.

    US warships and at least one carrier are in the region (with a second carrier headed that way), as part of “support” operations – but the whole region is on edge given the possibility of a Middle East-wide bigger conflagration. 

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

    Worrisomely other major global powers are bolstering their presence, particularly ones which have of late issued severe criticisms of Israel’s largescale aerial assault on Gaza (namely Russia and China), which has killed thousands of civilians – many women and children among them. Russia has been operating jet patrols over Syria, and importantly China now has additional warships in the Mideast region.

    Hong Kong-based South China Morning Post has confirmed that up to six Chinese warships have been in Middle East waters over the last week.

    “The 44th naval escort task force has been involved in routine operations in the area since May and last week spent several days on a visit to Oman, including a joint exercise with the country’s navy, according to the Chinese defense ministry website,” the report says.

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

    While the warships’ presence off Oman is being presented as “routine” – it seems clear the Chinese PLA Navy is going to stick around, given fast-moving events in Israel-Gaza. Days ago, Beijing’s foreign ministry urged all Chinese citizens to make plans to depart Israel while international flights are still available. Are Chinese warships now headed to the Mediterranean?

    The Biden White House has reportedly been urging Netanyahu to hold off on the invasion to give more time to negotiate for hostages, after two Americans were released Friday…

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

    This weekend, all eyes will remain on both Gaza and south Lebanon, as the major powers of the US, Russia, and China keep their military assets on the ready. Iran is also no doubt watching events closely, with Iranian officials having in the last days made key visits to regional capitals Baghdad, Damascus, and Beirut. There’s also fear in Tehran of the potential for an Israeli preemptive attack on Iranian nuclear and military facilities, which Israeli leaders have threatened before.

    Tyler Durden
    Sat, 10/21/2023 – 19:15

  • Gaza's Ancient Christian Population Between A Rock & A Hard Place
    Gaza’s Ancient Christian Population Between A Rock & A Hard Place

    Via Middle East Eye,

    Israel’s attack on the fifth-century Church of Saint Porphyrius in Gaza has turned the spotlight on the besieged Palestinian enclave’s Christian population.

    At least 18 people were killed in the bombing on a social services annex in the church’s complex of buildings. Both Muslims and Christians took shelter within its walls hoping that its historical and religious importance would spare it the carnage that has affected other areas of Gaza.

    Saint Porphyrius Orthodox Church, Anadolu via Getty Images

    As part of historic Palestine it is impossible to disconnect the history of Palestinian Christians in Gaza from those who share their faith in the occupied West Bank, Jerusalem and within the Palestinian community in Israel. The region is the birthplace of Christianity and the location of many of the events of the Old and New Testaments of the Bible.

    Palestinian Christians in Gaza, like other Palestinians there, do not see themselves as detached from the wider Palestinian nation. Nevertheless, there is a unique Christian history specific to Gaza. While just over a thousand Christians remain in Gaza, the territory holds a special significance in the development of the faith.

    The region is referred to by name in the New Testament in Acts 8, which refers to Philip the Evangelist baptizing a man from Ethiopia on the road between Jerusalem and Gaza. “Now an angel of the Lord spoke to Philip, saying, ‘Arise and go toward the south along the road which goes down from Jerusalem to Gaza.’ This is a desert,” the verse reads.

    There are also several historic Christian sites that are not only important locally but carry importance for Christians generally. The site of the Israeli attack on Thursday evening, the Saint Porphyrius Church, is one of the most important religious sites in Palestine.

    Named after a fifth-century bishop, the site is one of the oldest surviving places of worship in the region and one of the oldest churches in the world.

    Saint Porphyrios Orthodox Church – Gaza, Facebook page

    The church was initially built in 425A.D. and then later reconstructed by Crusaders in the 12th century, with much of the present structure dating back to that period. Another major Christian site in Gaza is the nearby and even older Tell Umm Amer monastery.

    The fourth-century structure, which now lies mainly in ruins, once included churches, a baptism hall, a cemetery and crypt. It served as a place of worship for those travelling between Egypt and the lands of the Levant, including Palestine and Syria.

    The site is notable for being the birthplace of Saint Hilarion, a fourth-century Palestinian monk, who helped pioneer monasticism. The presence of these early churches and monasteries, as well as the Biblical reference, indicate that Christianity in Gaza took root in tandem with the development of the faith in the region. But widespread adoption of the faith did not take place until the fifth century.

    According to the scholar Nicole Belayche, the strength of pagan cults in Gaza before the fifth century is “indisputable”. In her essay in the book Christian Gaza in Late Antiquity, she writes that when Porphyrius was ordained bishop of Gaza, the Christian population stood at “less than three hundred in a population estimated at between 20,000 and 25,000”.

    Gaza’s mass conversion to Christianity started in the fifth century under the auspices of the Byzantine Empire, the successor to the Eastern Roman Empire. “It was a hard process, one requiring recourse to imperial intervention,” she writes.

    Image source: Simply Human

    Initial reluctance was overcome by the efforts of holy men, such as Porphyrius, and incorporation of indigenous ritual into church rites, Belayche explains. While Christianity was widely adopted by the end of the sixth century, it was not long before there was a new dominant religion.

    In his book History of the City of Gaza, the late 19th century Jewish-American scholar Martin A Meyer writes: “The new faith had barely sufficient time to establish itself before Islam swept it away from this part of the world forever.”

    Meyer’s statement is hyperbolic but touches on the truth that over the centuries that followed the Arab conquest, much of the region’s population converted to Islam.

    There still remained a small Christian minority in the area of Gaza, which survived for centuries and enjoyed a brief flourishing under Crusader rule in the 12th century. Like their fellow Palestinians, many of the region’s Christians were forced from their homes during the establishment of the state of Israel in 1948.

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

    As a result, the Christian population of Gaza has dwindled further over the decades, a trend that has continued after the Nakba. According to the Guardian, there were 6,000 Palestinian Christians in Gaza in the mid-1960s and that number has fallen to 1,100 today.

    Most Christians in the besieged region today follow the Greek Orthodox Church, while minorities follow the Baptist and Catholic churches. Since the Israeli siege of Gaza began in 2007, Christians have faced similar restrictions on movement as their Muslim neighbors have to live under.

    Cut off from larger Christian communities in the West Bank and Jerusalem, members of the faith require Israeli permits to travel to those areas for religious occasions. In 2021, Israel issued permits for around half of the Palestinian Christian population in Gaza to attend Christmas services.

    Such rights to attend rituals are by no means guaranteed, as evidenced by Israel’s decision to cancel 700 permits for Christians in Gaza to attend Easter services in Jerusalem. Israel similarly rejected permit applications for 260 Palestinians in Gaza wanting to spend Christmas outside of the territory, either in the occupied West Bank or elsewhere.

    Despite their small number, Churches in Gaza have regularly opened their doors to adherents of any faith to seek shelter during times of conflict, in the hope that houses of worship will not be attacked by Israel. Such hopes may fade fast after the most recent Israeli attack on the Church of Saint Porphyrius.

    Tyler Durden
    Sat, 10/21/2023 – 18:40

  • Bloomberg Terrified At The Prospect Of America Exporting Its Gun Culture
    Bloomberg Terrified At The Prospect Of America Exporting Its Gun Culture

    Submitted by Gun Owners Of America.,

    Bloomberg, the news media company named after and owned by prominent anti-gun billionaire Michael Bloomberg, is terrified of a worldwide gun culture.

    In a recent series of articlesBloomberg journalists detail how firearms companies are “fueling violence across the world” through sales to other countries. While the articles certainly attempt to frame gun ownership in other countries as the cause of violence, two key points are left out.

    First, many firearms exports worldwide are specifically for law enforcement and military contracts, not civilian sales. So, while Sig Sauer (the target of a Bloomberg hit piece on firearms exports) does export firearms overseas, many of these are for arming police officers and soldiers in foreign militaries.

    Second is that violence isn’t caused by firearms. Violence is a human problem. An article in the series asserts that Sig Sauer is somehow responsible for the black-market firearms trade in Thailand and violent acts committed by those who used Sig products. It’s very likely that if Sig Sauer was not able to sell their firearms in Thailand, the purported acts of violence would still have occurred with a different brand that Bloomberg journalists may not have been as interested in.

    A newer article in the series highlighted Brazil as being a major importer of US-made firearms, but failed to mention the fact that after former Brazilian President Jair Bolsonaro made firearms permits easier and cheaper for law-abiding citizens to acquire, homicides fell 34%, according to the Wall Street Journal.

    Brazil, one of the most violent nations on earth (with cities like Salvador and Fortaleza having homicide numbers in the thousands), is plagued by crime and gang violence. Firearms are routinely stolen from police armories and sometimes even manufactured right in the favela. Why not mention that American-style civilian firearm ownership helped to decrease homicides?

    Interestingly, this detail is left out of the Bloomberg reporting, and maybe it doesn’t fit the anti-gun progressive narrative by corporate media. 

    Lastly, a question that must be posed in the face of this reporting is why Bloomberg fears an American-style gun culture in other countries.

    An American style of gun ownership allows citizens to defend themselves without reliance on government entities like the police or military. It will enable citizens to be truly independent. For a billionaire like Michael Bloomberg, who can afford private security 24/7, this can be hard to understand. Still, for someone living in a Brazilian favela or a cartel-controlled territory in Mexico, firearm ownership could be the determining factor between life and death.

    It’s very telling that at the end of the Bloomberg article, a disclaimer reads: Everytown for Gun Safety, which advocates gun-safety measures, is backed by Michael Bloomberg, founder and majority owner of Bloomberg News parent Bloomberg LP.

    *    *    *

    We’ll hold the line for you in Washington. We are No Compromise. Join the Fight Now. 

    Tyler Durden
    Sat, 10/21/2023 – 18:05

  • APEC Leaders Can’t Ignore Xi’s Widening Uyghur Genocide
    APEC Leaders Can’t Ignore Xi’s Widening Uyghur Genocide

    Authored by Omar Kanat via RealClear Wire,

    Xi Jinping’s visit to Ürümchi, the capital of the Uyghur region, in August has sent a chill through the human rights and Uyghur diaspora communities. During his trip, Xi called on local officials to preserve “hard won social stability” and enhance measures to manage “illegal religious activities.” Xi personally put in place the policies for ongoing crimes against humanity and genocide in East Turkistan, premised on combatting “religious extremism.” And now he is saying that the ongoing repression targeting Uyghurs isn’t harsh enough. This ominous declaration should be seen as a dire warning, signaling darker days ahead for the Uyghur population.

    Xi is slated to visit San Francisco in November for the Asia-Pacific Economic Cooperation Forum Leaders Summit. When he meets with the leaders of the 21 APEC economies, which account for nearly 40% of the global population and nearly 50% of global trade, his public declaration that China will deepen its current Xinjiang policies cannot go unchallenged.

    Since 2016, the world has witnessed the systematic persecution of Uyghurs in East Turkistan. Reports of mass detentions, forced labor, cultural suppression, and genocidal birth control policies have cast an even longer shadow over China’s human rights record. Despite mounting evidence, the international response has been disturbingly inadequate.

    Xi Jinping’s remarks in Ürümchi should serve as a wake-up call: The policies of total surveillance, total assimilation, and universal placement in government jobs are ongoing. Nobody should be taken in by external propaganda purporting to show that everything is normal, saying journalists and tourists are welcome in “Beautiful Xinjiang.” The happy, dancing Uyghurs in the “I’m from Xinjiang” videos in 2023 were preceded by the “new Uyghurs” in the 2021 “Amazing Xinjiang” campaign. But when AFP News tried to inquire about the families of overseas Uyghurs during a recent reporting trip, they were warned away by dozens of plainclothes security officers, toting shovels and hoes.

    Visits to the Uyghur region by genocide enablers, such as the Organisation of Islamic Cooperation and the Arab League, should not surprise anyone. However, it is the turn toward engagement with China from staunch supporters of Uyghur rights like the United States and the United Kingdom that is alarming. As the shock of revelations about internment camps and forced labor has waned, sanctions and condemnations have petered out. Bilateral diplomacy has shifted towards improving “lines of communication” with China.

    The shift toward engagement plays right into the hands of the Chinese government, which prefers to operate with its dialogue partners turning a blind eye to its human rights abuses. Even more effective is China’s leveraging of its economic largesse and political power to divide any unified response that would exert meaningful pressure on Beijing.

    Moreover, the United Nations, including the Office of the United Nations High Commissioner for Human Rights, have been glacially slow to take meaningful action. Despite mounting evidence and OHCHR’s own findings of China’s human rights crimes in the Uyghur region, these bodies have been unable to enact diplomatic protest, let alone bring those responsible to justice.

    Indeed, I argue that inaction is normalizing genocide. To address this retrenchment in world attention, the international community must take immediate and coordinated action. This includes:

    1. Increased sanctions: Countries should expand and strengthen sanctions against Chinese officials and entities involved in the Uyghur genocide. This not only holds individuals accountable but also sends a clear message to Beijing.
    2. Mobilization of international human rights mechanisms: UN High Commissioner’s Office needs to act on its 2022 report on “interlocking patterns of severe and undue restrictions on a wide range of human rights.” For Uyghurs and other Turkic peoples, a critical window is closing on turning the findings into multilateral pressure on China.
    3. Pressure on corporations: Companies that benefit from forced Uyghur labor or operate in East Turkistan should face scrutiny and pressure to ensure they are not complicit in crimes against humanity.
    4. Cessation of trade in Uyghur forced labor goods: China’s massive program of state-imposed forced labor for Uyghurs, an integral component of the ongoing genocide, must be addressed in every trade forum, including the APEC Leaders’ Summit in San Francisco in November.

    Xi Jinping’s ominous words in Ürümchi serve as a stark reminder that the Uyghur crisis is far from over. When Xi travels to San Francisco on November 12 for the APEC Summit, APEC leaders must address the elephant in the room. Economic “cooperation” is morally bankrupt if it does nothing to stop genocidal forced labor products in global trade.

    The international community must rise to the occasion and act to end economic complicity and moral complacency. Failure to do so will only embolden the Chinese government and ensure that the Uyghur people continue to suffer in silence. The time for action on genocide is always now.

    Omer Kanat is executive director of the Uyghur Human Rights Project.

    Tyler Durden
    Sat, 10/21/2023 – 17:30

  • "Cardboard Box Recession" An Ominous Sign Of Faltering Consumer, Schwab Warns
    “Cardboard Box Recession” An Ominous Sign Of Faltering Consumer, Schwab Warns

    Earlier this year, Charles Schwab analyst Jeffrey Kleintop said the US was sliding into a “cardboard box” recession as consumers and small businesses were pressured by soaring interest rates and elevated inflation.

    On Tuesday, Kleintop joined Morningstar’s The Long View podcast to warn, yet again, that slowing demand for cardboard boxes is an ominous sign of a coming recession. The reason behind this view is that cardboard boxes are used to transport nearly every good in modern society. So when box demand falls, it’s reflective of slowing purchases by consumers and businesses. 

    “Often, I find, in maybe nontraditional measures, I find more comfort in things that just make sense to me. Like the downturn that’s currently indicated in official manufacturing and trade data. Some of that’s kind of abstract. I find comfort looking at the plunging demand for cardboard boxes,” Kleintop told the podcast hosts. 

    The analyst said, “I’ve been referring to this as a cardboard box recession because things that are manufactured and shipped tend to go in a box and because demand for corrugated fiberboard, which is what most cardboard boxes are made from, has fallen just like it did in past recession. So, literally, cardboard boxes are in a recession.” 

    Last week, former Walmart CEO Bill Simon, who now serves on the Board of Directors for Darden Restaurants and Hanesbrands Inc., told CNBC that headwinds are mounting for consumers as inflation, high interest rates, and global tensions make consumers wary. He said, “For the first time in a long time, there’s a reason for the consumer to pause.” 

    If Simon is correct, this could spell disaster for Biden’s economy. Consumers are a significant driver in the US economy, accounting for about two-thirds of US GDP. 

    It appears the music has already stopped, and the party for consumers is grinding to a halt. 

    Last month, we laid out the various reasons why – according to JPMorgan and Goldman – sentiment on US consumer stocks had cratered and would continue to worsen in the months ahead. 

    A recent Citi note (full report available to pro subs) revealed consumer card spending is downright recessionary. 

    Also, a recent Barclay’s Global Rates Weekly note showed card spending has taken another leg lower as consumers falter. 

    And back to the cardboard boxes, FreightWaves has been warning all year about this alarming development:

    Ending it with Kleintop, he told The Long View podcast: “So, I think all these signs are indicating that we’re seeing a bit of a slowdown in the services sector. And that’s important because there are 10 times as many services jobs as manufacturing jobs in the US So, if we start to see the service sector reflect more signs of this slowdown in demand, well, we might see a weakening labor market and then that could feed into the retail space and construction and so many other areas.” 

    … and then there is this: “Trucking Recession Deepens As Bezos, Gates-Backed Convoy Cancels All Shipments, Load Board Is Empty.” 

    Tyler Durden
    Sat, 10/21/2023 – 16:55

  • House Investigators Reveal $200,000 "Direct Payment To Joe Biden"
    House Investigators Reveal $200,000 “Direct Payment To Joe Biden”

    The House Oversight Committee on Friday revealed a direct payment to President Joe Biden which appears to have been laundered through his brother James.

    As the oversight Committee notes in a release;

    In 2018, James Biden received $600,000 in loans from, Americore—a financially distressed and failing rural hospital operator. According to bankruptcy court documents, James Biden received these loans “based upon representations that his last name, ‘Biden,’ could ‘open doors’ and that he could obtain a large investment from the Middle East based on his political connections.”

    On March 1, 2018, Americore wired a $200,000 loan into James and Sara Biden’s personal bank account – not their business bank account. On the same day, James Biden wrote a $200,000 check from this same personal bank account to Joe Biden. 

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

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

    Chairman James Comer (R-KY) said in a statement (emphasis ours);

    This summer, Joe Biden said: “Where’s the money?”

    Well, we found some.

    We’re still digging into evidence subpoenaed from bank accounts belonging to Hunter Biden, the son of President Joe Biden, and James and Sara Biden – the brother and sister-in-law of the President.

    A document that we’re releasing today raises new questions about how President Biden personally benefited from his family’s shady influence peddling of his name and their access to him.

    Bank records obtained by the House Committee on Oversight and Accountability have revealed a $200,000 direct payment from James and Sara Biden to Joe Biden in the form of a personal check.

    Here is some important context about this check we’ve obtained in our investigation:

    In 2018, James Biden received $600,000 in loans from, Americore—a financially distressed and failing rural hospital operator.

    According to bankruptcy court documents, James Biden received these loans “based upon representations that his last name, ‘Biden,’ could ‘open doors’ and that he could obtain a large investment from the Middle East based on his political connections.”

    On March 1, 2018, Americore wired a $200,000 loan into James and Sara Biden’s personal bank account – not their business bank account. 

    And then on the very same day, James Biden wrote a $200,000 check from this same personal bank account to Joe Biden. 

    James Biden wrote this check to Joe Biden as a “loan repayment.”  Americore—a distressed company—loaned money to James Biden who then sent it to Joe Biden.

    Even if this was a personal loan repayment, it’s still troubling that Joe Biden’s ability to be paid back by his brother depended on the success of his family’s shady financial dealings.

    Some immediate questions President Biden must answer for the American people:

    Does he have documents proving he lent such a large sum of money to his brother and what were the terms of such financial arrangement?

    Did he have similar financial arrangements with other family members that led them to make similar large payments to him?

    Did he know that the same day James Biden wrote him a check for $200,000, James Biden had just received a loan for the exact same amount from business dealings with a company that was in financial distress and failing?

    The House Oversight Committee will soon announce our next investigative actions and continue to follow the money.

    The bank records don’t end here.There is more to come.

    Watch:

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

     

    Tyler Durden
    Sat, 10/21/2023 – 16:40

  • Census Data Shows 871,000 Californians Left The Imploding State In 2022
    Census Data Shows 871,000 Californians Left The Imploding State In 2022

    California has sustained massive population declines since the Covid pandemic. Residents have been fed up with radical authoritarian progressive politicians, as well as shit-covered streets, imploding metro areas, out-of-control homelessness, open-air drug markets, soaring violent crime and thefts, high inflation, out-of-reach home prices, and much much more.

    AP News, citing new Census figures, highlighted that a staggering 817,000 individuals left the Golden State in 2022. However, with the addition of 475,000 people moving into California that year, the state saw a net loss of approximately 342,000 residents. 

    Texas continues to be the biggest beneficiary of the California exodus. About 102,000 ex-Californians moved to the Lone Star State last year for cheaper cost of living, lower crime, and a friendlier tax environment. 

    “We are losing younger folks, and I think we will see people continuing to migrate where housing costs are lower,” Manuel Pastor, a professor of sociology and American Studies & Ethnicity at the University of Southern California, said in an interview with AP. 

    Pastor said, “There are good jobs in California, but housing is incredibly expensive. It hurts young families, and it hurts immigrant families.”

    Besides seeking cheaper shelter elsewhere, many folks are leaving the state because of violent crime. The latest FBI data shows Gov. Gavin Newsom’s progressive playground is erupting in violent crime following disastrous ‘defund the police’ policies. Meanwhile, crime is sharply falling in Florida, where ‘law and order’ is embraced. 

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

    Democrats have transformed California into a third-world-like state in a matter of years. 

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

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

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

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

    Wait until the exodus of people and businesses starts crushing tax revenue for cities… 

    As for 2023 trends, John Burns Real Estate Consulting recently shared a new report that showed the exodus contined this year. 

    Tyler Durden
    Sat, 10/21/2023 – 15:45

  • Behind A Secret Chinese Biolab In California, A Global Web Of Connections
    Behind A Secret Chinese Biolab In California, A Global Web Of Connections

    Authored by Steve Ispas and Lear Zhou via The Epoch Times (emphasis ours),

    The discovery of a black market Chinese biolab operating in California, and the subsequent investigation into it, has exposed a tangled web of shell companies obscuring ownership and loopholes that caused delays in cleanup and informing the public.

    A collage of the biolab in Reedley, Calif., on July 31, 2023. (Fresno County Public Health Department/Judicial Watch, Nathan Su/The Epoch Times, Courtesy of City of Reedley)

    The public found out in March about a secret biolab operating in a warehouse in Reedley, California, about 25 miles southeast of Fresno.

    But the warehouse and its biological hazards were discovered months earlier, on Dec. 19, 2022, by Jesalyn Harper, a code enforcement officer with the City of Reedley Fire Department.

    Responding to an anonymous tip about the supposedly vacant warehouse, Ms. Harper discovered thousands of vials of bacterial and viral agents, including coronavirus, chlamydia, E. coli, streptococcus pneumonia, HIV, hepatitis, herpes, rubella, and malaria.

    The business, operated by Prestige Biotech Inc., was also packaging and mailing out COVID-19 and pregnancy test kits, as well as housing nearly 1,000 lab mice.

    A map illustration shows the location of the biolab in Reedley, Calif. (Illustration by The Epoch Times, Nathan Su/The Epoch Times, Shutterstock)

    Ms. Harper reported her findings to the City of Reedley, which contacted the FBI on the same day. But there was no single authority that could deal with all of the pathogens, chemicals, and biological hazards.

    Eventually, a maze of agencies got involved in the investigation and cleanup, including city, county, and state authorities, as well as federal agencies such as the FBI, the Centers for Disease Control and Prevention (CDC), the Environmental Protection Agency (EPA), and the Food and Drug Administration (FDA).

    The Biolab Discovery

    The warehouse, located at 850 I Street in Reedley, was built in the 1950s mainly as a food packing plant. Trucks would drive up to the alcove area in front of the roll-up doors to load up.

    After Ms. Harper received the anonymous complaint about vehicles parked in the alcove, she went to investigate and also noticed a garden hose going into the building via a door being propped open—a potential plumbing violation.

    Ms. Harper told The Epoch Times that she knocked at the door and saw three people boxing up pregnancy tests. One of them spoke no English, while the other two spoke very broken English.

    At the beginning, Ms. Harper said the trio were very cooperative, but as she walked to the southern part of the building they became deflective.

    “What do you do with the mice?” she recalled asking.

    “We use the mice for experiments,” they replied.

    “What kind of experiments?”

    “Oh, I don’t know, we just give them water.”

    “What’s in the refrigerators?”

    Just stuff for making the tests.

    As Ms. Harper asked more specific questions, she said the staff answered less and less, pushing for her to leave. Once she saw labels on the fridges such as “blood,” “HIV,” she realized it was a potentially hazardous environment and left the building.

    Jesalyn Harper, a code enforcement officer with the City of Reedley Fire Department. (Courtesy of Jesalyn Harper)

    She reported her discovery to City of Reedley officials, who contacted the FBI immediately and met with them two days later, on Dec. 21, 2022.

    The FBI took all of January 2023 to investigate and finally deemed the warehouse safe for city employees in early February.

    When Reedley city officials returned to the warehouse on March 3 with an inspection warrant, they reported that no items had been removed from the lab, although some additional items had been stored since December.

    Who’s in Charge?

    For Ms. Harper, the process was just beginning. She began to work with the state and county to determine which organizations needed to be involved.

    “We had to look at these labs and break them down component by component and see who had the authority for each component,” Ms. Harper told The Epoch Times.

    “For example, the California Department of Public Health would have authority over medical devices like pregnancy tests; DTSC [the Department of Toxic Substance Control] would have oversight over some of the chemicals, possibly how they were being used.”

    Experts in medical waste and environmental health were brought in to address the items in the refrigerators, medical waste, human waste, blood, and used pregnancy tests.

    The EPA and FDA were also involved, and both agencies retained some of the documentation and paperwork found in the lab.

    Each item had to be dealt with separately—each drawer, each box, each container, each refrigerator, and each pallet had to be looked at by various departments depending on what was found.

    Meanwhile, Ms. Harper had been feeding and watering the lab mice found onsite while she and other city officials were figuring out who had authority.

    They discovered on March 16 that no one in the U.S. government clearly has regulatory authority over lab mice, so Ms. Harper used the California Health and Safety Code that references animal cruelty to obtain a warrant. A veterinarian then recommended to have the mice humanely euthanized, which took place after obtaining the requisite permit on April 12.

    All other biologicals were removed by July 8, after an abatement warrant was authorized by the Superior Court of California–Fresno County. All other assets were moved during the first two weeks of August.

    An emergency ordinance, No. 2023-008, passed at the Reedley City Council meeting on Sept. 12 temporarily placed a ban on the establishment of warehousing and laboratories with biosafety levels 2 through 4 within the city limits. The City of San Carlos in the Bay Area has a similar ban.

    I’ve had a lot of sleepless nights knowing there is no one out there looking for these labs. This could be happening all over the United States,” Ms. Harper said.

    “It’s been an eye-opening experience, realizing the many cracks in our government for these types of organizations to fall through, and also realizing that the government is not our first line of defense.”

    Ms. Harper said these types of under-the-radar entities can purchase “a lot of chemicals and a lot of biologicals easily and no one is watching over them to make sure they know what they are doing.”

    “We have to make sure these labs are not able to come here until there is oversight,” she said.

    Who Owns the Secret Lab?

    The biolab in Reedley is owned by Prestige Biotech Inc., but a closer look into a complex network of companies and employees, including Prestige, all ultimately lead back to Jia Bei “Jesse” Zhu, a Chinese national with a Canadian passport.

    Just hours after this article was published on Oct. 19, Mr. Zhu was arrested in California and charged with manufacturing and distributing misbranded medical devices and for making false statements to the FDA. A sealed indictment had been filed on Oct. 18.

    Mr. Zhu faces a maximum of three years in prison for the misbranding charge and five years for the false statements charge according to the U.S. Attorney’s office for the Eastern District of California.

    According to court documents, between December 2020 and March 2023, Mr. Zhu and others allegedly manufactured, imported, sold, and distributed hundreds of thousands of COVID-19 and other test kits in the United States and China. They did so through the companies Universal Meditech Inc. and Prestige Biotech Inc. without proper authorization.

    “As part of his scheme, the defendant changed his name, the names of his companies, and their locations,” said U.S. Attorney Philip A. Talbert.

    The criminal complaint alleges that during the investigation, Mr. Zhu made several false statements to FDA officials, including using a false name and falsely representing his knowledge about the company’s activities.

    City of Reedley staff were told by Prestige Biotech president Yao Xiuqin that his company had taken over the warehouse—including the biological materials, samples, and lab mice—from Universal Meditech Inc. after the latter claimed bankruptcy, according to a court document filed on June 15.

    Prestige Biotech is the main creditor of Universal Meditech.

    Public records show that Prestige Biotech was first registered in Nevada to Wang Zhaolin (also known as Lynn Warner) on April 3, 2019, before current company president Mr. Yao, who’s based in China, took over on May 28, 2021.

    Universal Meditech was established in Tulare, California, on Nov. 25, 2015, naming Mr. Zhu as CEO. The company obtained a California business license on March 20, 2019.

    Universal Meditech was started by a group of Canadian and Chinese investors and specializes in research, development and assembly of diagnostic test kits used in dairy cattle reproduction,” said Paul Saldana, who was president and CEO of the Tulare County Economic and Development Center in 2015, according to Visalia Times Delta.

    Shortly after the pandemic started in March 2020, Universal Meditech switched from a cattle reproduction-related business to producing pregnancy test kits and COVID-19 test kits.

    In August 2020, a fire broke out at the company’s Fresno location and a subsequent environmental health inspector’s visit found that Universal Meditech didn’t have a hazardous materials plan for storing ethanol in the warehouse.

    Current documents filed with the California secretary of state don’t show Mr. Zhu as CEO of Universal Meditech anymore, instead naming Wang Xiaoxiao as CEO, chief financial officer, and secretary, with an address in south central Fresno.

    Another name connected to Universal Meditech and many other similar companies is Wang Zhaoyan, who’s also known as Wang Yan.

    Ms. Wang is listed as president of Universal Meditech in an online business directory, and The Epoch Times obtained a plumbing permit issued to Ms. Wang of Universal Meditech from the City of Tulare in 2016. An FDA filings report for Universal Meditech also lists Ms. Wang as the “official correspondent.”

    Ms. Wang is also a principal in another California-based company, Superior Meditech Investments LLC, and an officer or managing member for three other related companies based in Nevada—PBI Diagnostic Laboratory LLC, Medi-Source LLC, and David Destiny Discovery LLC.

    She’s also listed as executive director and general manager for a company in Qingdao, China, called Ai De Biopharmaceutical Industry (Qingdao) Co. Ltd.

    The general manager for Ai De Biopharmaceutical is also the president for Prestige Biotech (the secret biolab in Reedley that bailed out Universal Meditech), according to California and Nevada business filings and a Chinese company directory.

    All of the executives and all the companies eventually lead back to Mr. Zhu, the Chinese man with a Canadian passport.

    Mr. Zhu and several of his companies have been mired in legal battles stretching from Canada to Hong Kong to the United States since 2008.

    In September 2010, Mr. Zhu filed a proof of claim as “the owner” of Ai De Biopharmaceutical in a bankruptcy proceeding for yet another of his companies, JingJing Genetics Inc.

    The sole shareholder of Ai De is a British Virgin Island company (Unique Way Technology Limited) which, in turn, is owned by IND, which is owned by Zhu,” according to a 2016 ruling by the Supreme Court of British Columbia in Canada.

    Ai De Biopharmaceutical’s street address in Qingdao is the same as other Chinese medical firms such as Qingdao Guangdi Packaging Material and Ai De Diagnostic. According to import records, most of these firms have shipped medical supplies to Universal Meditech and Prestige Biotech.

    Mr. Zhu resigned from his positions of chairman of the board and general manager at Ai De Biopharmaceutical in November 2018, according to Chinese documents.

    The Epoch Times called several numbers for Ai De Biopharmaceutical’s headquarters in China, but the numbers have been disconnected or are no longer in service.

    Jessie Zhu’s Operations

    Mr. Zhu was born in China in 1961 and obtained a Bachelor of Science degree from the Beijing University Medical Department in 1984 and a master’s degree from the Peking Union Medical College Hospital in 1988. He went on to conduct bio research at the University of British Columbia in Canada, according to Sina Finance.

    In 1991, Mr. Zhu established IND Dairytech Ltd in Vancouver and became chairman of the board.

    In the late 1990s, Mr. Zhu flew a dozen Holstein cattle (a breed known for high milk production) from Quebec to Beijing to enhance milk production in China, where it was in great need.

    A decade later, Mr. Zhu’s focus switched to breeding technologies. Rather than transporting cattle to China, IND Dairytech began sending Holstein semen and embryos in an effort to develop cattle herds.

    Primarily serving customers in Canada, IND Dairytech was listed on the Toronto Stock Exchange in 2008, delisted in 2011, and acquired shortly afterward by IND Lifetech, another company controlled by Mr. Zhu.

    The Chinese characters of “Ai De” are also in the upper left corner of IND Lifetech’s logo.

    Not long after IND Lifetech acquired IND Dairytech, it changed its name to JingJing Genetics, still based in Canada and controlled by Mr. Zhu.

    In 2008, JingJing Genetics was sued by XY LLC, a Colorado-based company that claimed damages for “conspiracy, deceit, breach of confidence, breach of contract, and inducing breach of contract.”

    XY had developed the technology to “choose the sex of the offspring using sexed semen or sexed embryos” for “non-human mammals, including cattle, horses, pigs, and endangered species,” according to an online statement.

    The company was “the master licensee in control of all sperm sorting in non-human mammals worldwide.”

    JingJing Genetics was allegedly stealing XY’s technology to manufacture and sell bovine sexed semen, but without the strict controls required from a licensee.

    The case was decided in 2012, with the judge ruling against JingJing Genetics for violating intellectual property agreements.

    Nearly 1,000 mice were kept for experimentation, 178 of which were already dead due to the rancid conditions. The mice had resorted to “cannibalism,” in which the more dominant rodents ripped the hair and skin of inferior ones. (Fresno County Public Health Department/Judicial Watch)

    Tyler Durden
    Sat, 10/21/2023 – 15:10

  • Poll Finds Lackluster Desire To Arm, Supply Israel – Even Among GOP
    Poll Finds Lackluster Desire To Arm, Supply Israel – Even Among GOP

    Bad news for the Israel lobby and the warfare state: On the same evening that President Biden delivered an address from the Oval Office to build support for sending $100 billion in weapons and other aid to Israel and Ukraine, CBS News published a poll showing surprisingly lackluster American support for arming and supplying Israel — even among Republicans

    By a spread of 52% to 48%, a majority of all Americans oppose giving weapons and supplies to Israel. While that’s close to an even split, Americans are very much united in seeing the latest developments as a cause for concern: 85% are concerned about a wider war in the Middle East, while 79% are concerned that the Hamas-Israel conflict could lead to terrorism in the United States, according to the CBS News/YouGov poll, which was conducted before, during and after Biden’s Wednesday visit to Israel. 

    When it comes to the Biden’s response to the Israel-Hamas war, Americans are split. 44% say Biden has shown the right amount of support for Israel, while 32% say he hasn’t shown enough support and 24% say he’s given too much support. 

    In recent years, the long-standing bipartisan backing of Israel has been cracking, creating a dynamic where Republicans reliably back the Israel government while Democrats increasingly empathize with the Palestinians. However, in the most striking finding of the new poll, a hefty 43% of Republicans say the United States should NOT send weapons and supplies to Israel.  

    Among all Americans, the poll found opposition to arming Israel is strongest in the 30- to 44-year-old cohort, with 64% opposing it. Among those under 30, 59% are against it. At the other end of the age spectrum, 64% of those 65 and older want more weapons shipped to the Zionist state.

    There isn’t much difference among races: 54% of Hispanics oppose sending weapons and supplies to Israel, compared to 52% of blacks and 51% of whites.

    When it comes to humanitarian aid, 76% of Americans say the US government should send it to Israel and 57% say aid should be sent to Palestinians in Gaza. There’s a notable difference across party affiliations, but note even 41% of Republicans support sending humanitarian aid to Gaza:

    Looks like the Israeli propaganda machine will be putting in some overtime. Tie yourselves to the masts, lads — Israel’s hasbara machine has already unleashed the IDF sirens: 

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

     

    Tyler Durden
    Sat, 10/21/2023 – 14:35

  • Former US Rep. Justin Amash's Relatives Killed In Israeli Bombing
    Former US Rep. Justin Amash’s Relatives Killed In Israeli Bombing

    Via The Ron Paul Institute,

    Former US Rep. Justin Amash (L-MI), who was the only US House Member representing the Libertarian Party, announced Friday on Twitter/X that several of his relatives were killed when Israel bombed Saint Porphyrius Orthodox Church in Gaza. Amash’s relatives, along with many others, were seeking shelter in the Church as Israel continues to flatten Gaza.

    According to The Wall Street Journal, “The Israeli military said that a blast Thursday night on the St. Porphyrius Greek Orthodox Church campus in Gaza City was the result of its airstrike.” The Israeli military said, “The incident is under review.”

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

    As one commenter on Amash’s thread pointed out, Saint Porphyrius Church “symbolized coexistence. It’s worth noting that this church is located near the Jewish Quarter in Gaza as well.” Saint Porphyrius Orthodox Church is the third oldest existing Christian church in the world, standing very nearly since the time of Christ.

    Another commenter on Twitter added that “Gaza’s oldest church the Orthodox Church of Saint Porphyrius”…was a refuge for at least 380 civilians. At least 40 have been reported dead and more searches continue among the rubble.” [Officials sources later revised the death toll to 18 people killed and at least 20 injured.]

    Earlier this week Israel is accused of bombing al-Shifa hospital in Gaza – the only Christian hospital in the Palestinian enclave – and hundreds have been reported killed in that attack.

    While Israel has denied responsibility for that bombing, former Israeli Prime Minister Ehud Barak told the BBC that Israel was “determined” to destroy the hospital.

    Additionally, Israel today demanded the evacuation of yet another hospital in Gaza, the Al-Quds Hospital, claiming that it was also on the bombing list. As The Cradle reports, an evacuation is nearly impossible as “the hospital is treating over 400 patients and sheltering 12,000 displaced civilians.”

    Tyler Durden
    Sat, 10/21/2023 – 14:00

  • "First In The Nation": Arkansas Forces Chinese Company To Sell Its Farmland
    “First In The Nation”: Arkansas Forces Chinese Company To Sell Its Farmland

    Governor Sarah Huckabee Sanders announced that Arkansas will require a Chinese-owned company to sell its farmland in Arkansas, saying it will be a first in the nation move that bans foreign parties from “owning agricultural land” in the state, THV11 reported.

    Sanders, along with Attorney General Tim Griffin and other Republican leaders, said that the company Syngenta will have to sell around 160 acres of land in Craighead County, Arkansas. The company has headquarters based in Switzerland and owned by ChemChina, which is a Chinese state-owned business that primarily deals with seeds and pesticides.

    ChemChina is listed by the U.S. Department of Defense as one of many “Chinese military companies” that operate directly or indirectly in the country.

    The announcement comes after the legislature passed a law earlier in 2023 that bans a foreign party controlled business from owning land in Arkansas.

    Sanders claimed Chinese companies operating in the U.S. send back information and technology, “stealing American research and telling our enemies how to target American farms.”

    “That is a clear threat to our national security and to our great farmers, especially since the Chinese government enacted a law in 2017, requiring Chinese citizens abroad to collaborate with their country’s security officials on intelligence work with no questions asked,” the governor said.

    That law states “any organization” must assist or cooperate with state intelligence work. Another Chinese law said “relevant organizations” can’t refuse to collect evidence for an investigation.

    “We will make sure that every company operating in Arkansas is a friend to Arkansas and good to hardworking Arkansans,” Sanders said.

    Syngenta has been notified of the decision and if they refuse, AG Griffin will move forward with legal proceedings to “force” them out of Arkansas.

    “There is nothing that is off limits for [China] if they think that it will strengthen them strategically,” Griffin explained at the press conference. “Whether it be related to engineering or the ability to feed their people, which is a challenge for them.”

    Griffin said Northrup King Seed Co., a subsidiary of Syngenta, will have to divest itself of the land in Craighead County within in two years. If the company fails to do that, Arkansas can have a civil penalty fine of up to 25% of the value of the property.

    The attorney general said the property is worth around $1.12 million, so the fine would be a maximum of $280,000.

    Tyler Durden
    Sat, 10/21/2023 – 13:25

  • Gasoline Prices Have Been Insulated From Oil's Surge Until Now
    Gasoline Prices Have Been Insulated From Oil’s Surge Until Now

    By Chunzi Xu, Bloomberg Markets Live reporter and strategist

    US gasoline prices have been insulated from oil’s surge so far amid soft demand and relatively high inventories. But if oil persists at $90/barrel, pump prices are poised to climb.

    WTI has rallied about 8% in the past two weeks, with gasoline futures not far behind. Yet pump prices have declined more than 4% in the same period. The physical spot market has been stable or lower in New York and Houston.

    This is because implied gasoline demand in the US is about 3% below what it was this time last year and 6% below the five-year average. Meanwhile, inventories have accumulated above seasonal norms. This trend of weak consumption and growing supply is likely to persist into the winter as US refiners emerge from maintenance next month.

    But gasoline prices will eventually catch up to the futures market, which is sensitive to oil’s volatility, especially given escalating tensions in the Middle East. And it doesn’t take much for any impact at the pump to reach consumers — average gasoline prices currently stand at $3.558 a gallon, that’s below this time last year but far above than any other year in the last decade.

     

    Tyler Durden
    Sat, 10/21/2023 – 12:50

  • You Must Be In 'The Six-Figure Club' To Afford A House
    You Must Be In ‘The Six-Figure Club’ To Afford A House

    The latest housing data shows soaring mortgage rates, elevated prices, and limited inventory continue to worsen the affordability crisis. 

    New data from real estate brokerage Redfin Corp. indicates homebuyers now need a whopping $114,000 salary to afford a median-priced home of $412,000 in September – assuming a 30-year fixed mortgage rate of 7.2% with 20% down. This is a near doubling in salary needed to afford a home since Covid, and since inflation wiped out real wages for two years, more Americans than ever can no longer afford the ‘American Dream’ of a single-family house with a white picket fence, instead, trapped in a cycle of renting. 

    Redfin’s next report, for this month, will likely show another jump in the salary needed to afford an average home because the 30-year fixed mortgage rate has risen 80 percentage points to 8%

    In 2012, the salary Americans needed to afford the average home was about $38,000. As a rule of thumb, buyers should never exceed 30% of their income on shelter costs. 

    “US homeownership first became a six-figure club in 2022, thanks to borrowing costs rising at the fastest clip in decades while home prices remained high,” Bloomberg said, adding, “It’s only gotten more expensive with mortgage rates hurdling towards 8%. Existing homeowners are reluctant to move because they’re locked in at lower rates, and new buyers are struggling to find properties they can afford, pushing mortgage applications to a multi-decade low.”

    The NAR Housing Affordability Index clocked in at 91.7 in August, down from 93.9 in July – anything below 100 indicates a household with a median income does not earn enough to be approved for a mortgage on a median-priced home. This was the lowest reading since at least the early 1980s.

    Mortgage rates are likely to stay high over the next few months. 

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

    For all those millennials and GenZ-ers who are trapped in a cycle of renting with no personal savings and insurmountable credit card and student loan debt, have you ever thought about moving back home to survive the inflation storm? 

    Tyler Durden
    Sat, 10/21/2023 – 12:15

  • Is A Financial Crisis Already Here? US Banks Are Closing 100s Of Branches And Laying Off 1000s Of Workers
    Is A Financial Crisis Already Here? US Banks Are Closing 100s Of Branches And Laying Off 1000s Of Workers

    Authored by Michael Snyder via The Economic Collapse blog,

    I know that there is a lot going on in the world right now, but I just had to write about what is happening to our banks. 

    High interest rates and chaos in the real estate industry are combining to put an enormous amount of pressure on our largest financial institutions.  As a result, banks are getting very tight with their money, they are closing down hundreds of branches, and they are laying off thousands of workers.  We are in the early stages of the worst financial crisis since 2008 and 2009, and I fully expect conditions to get even worse in the months ahead.

    During the first week of October alone, U.S. banks closed a whopping 54 local branches

    Major US banks are continuing to close branches across the US, leaving an increasing number of Americans without access to basic financial services.

    Bank of America axed 21 branches in the first week of October, according to a bulletin published by the Office of the Comptroller of the Currency (OCC) on Friday.

    Wells Fargo shuttered 15, while US Bank and Chase reported closing nine and three respectively.

    In total, some 54 locations had either closed or were scheduled to close between October 1 and October 7.

    That is just one week!

    Of course bank branches have been closing at a frightening pace for quite some time now.

    Last year, U.S. banks shut down about 2,000 more branches than they opened…

    Banks are closing branches faster than they’re opening new ones. U.S. banks closed over 3,000 branches last year while opening just 1,000. JPMorgan Chase led in branch closures last year, shuttering 144 branches, while opening 133. The trend will likely continue as banks face staunch competition for deposits and younger customers from online banks, fintech firms and Big Tech.

    Unless you live under a rock, I am sure that you have noticed this happening in your own local area.

    For many Americans, a “trip to the bank” is no longer just a few minutes away.

    And our banks are also laying off staggering numbers of workers here in 2023…

    The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come.

    Even as the economy has surprised forecasters with its resilience, lenders have cut headcount or announced plans to do so, with the key exception being JPMorgan Chase, the biggest and most profitable U.S. bank.

    Pressured by the impact of higher interest rates on the mortgage business, Wall Street deal-making and funding costs, the next five largest U.S. banks have cut a combined 20,000 positions so far this year, according to company filings.

    The banking industry is in trouble.

    Big trouble.

    And this is happening at a time when economic conditions are steadily deteriorating.

    In fact, we just learned that the Conference Board’s index of leading economic indicators has now fallen for 18 months in a row

    The Conference Board Leading Economic Index® (LEI) for the U.S. declined by 0.7 percent in September 2023 to 104.6 (2016=100), following a decline of 0.5 percent in August. The LEI is down 3.4 percent over the six-month period between March and September 2023, an improvement from its 4.6 percent contraction over the previous six months (September 2022 to March 2023).

    “The LEI for the US fell again in September, marking a year and a half of consecutive monthly declines since April 2022,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board. “In September, negative or flat contributions from nine of the index’s ten components more than offset fewer initial claims for unemployment insurance. Although the six-month growth rate in the LEI is somewhat less negative, and the recession signal did not sound, it still signals risk of economic weakness ahead. So far, the US economy has shown considerable resilience despite pressures from rising interest rates and high inflation. Nonetheless, The Conference Board forecasts that this trend will not be sustained for much longer, and a shallow recession is likely in the first half of 2024.”

    If things are this bad now, what is going to happen if the hot phase of World War III suddenly erupts in the Middle East?

    At this point, nobody can claim that the economy is headed in the right direction.

    During the first nine months of this year, the number of commercial Chapter 11 bankruptcies was 61 percent higher than it was during the same period a year ago…

    A wide array of U.S. businesses have struggled this year. In the first nine months of 2023, commercial Chapter 11 bankruptcies have soared 61% year over year to 4,553, according to Epiq Bankruptcy, which provides U.S. bankruptcy filing data.

    61 percent!

    Let that number sink in for a moment.

    And we have just learned that sales of previously owned homes have dropped to a level not seen since 2010 when the U.S. “was in the midst of a foreclosure crisis”

    Sales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association of Realtors. Sales were 15.4% lower compared with September 2022.

    This is the slowest sales pace since October 2010, during the Great Recession, when the market was in the midst of a foreclosure crisis. As a comparison, just two years ago, when mortgage rates hovered around 3%, home sales were running at a 6.6 million pace. The average rate on the 30-year fixed today is right around 8%, according to Mortgage News Daily.

    Speaking of home foreclosures, they are up 34 percent compared to the same time in 2022…

    Home foreclosures are on the rise as Americans continue to grapple with the ongoing cost-of-living crisis.

    That is according to a new report published by real estate data provider ATTOM, which found that foreclosure filings – which includes default notices, scheduled auctions and bank repossessions – surged 28% in the third quarter to 124,539.

    Foreclosures are up 34% from the same time one year ago.

    A new economic crisis is here.

    And the truth is that it is going to get a whole lot worse.

    So even though things are not great now, enjoy these last few days of relative stability while you still can, because war in the Middle East will soon plunge the entire global economy into a state of great turmoil.

    *  *  *

    Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

    Tyler Durden
    Sat, 10/21/2023 – 11:40

Digest powered by RSS Digest