Today’s News 3rd July 2023

  • Escobar: A Matryoshka Of Psyops And Why General Armageddon Is Not Going Anywhere
    Escobar: A Matryoshka Of Psyops And Why General Armageddon Is Not Going Anywhere

    Authored by Pepe Escobar,

    The main problem faced by Russia is not the Hegemon and NATO: it’s domestic…

    The secret of a perfect psyop is that no one really understands it.

    A perfect psyop accomplishes two tasks: it renders the enemy dazed and confused while achieving a set of very important goals.

    It goes without saying that sooner rather than later we should see the real goals emerging out of the strategic play in Russia I described as The Longest Day.

    The Longest Day may or may not have been a larger than life psyop.

    To clear the fog, let’s start with a roundup of the usual “winner” suspects.

    First one is undoubtedly Belarus. Due to the priceless mediation of Old Man Luka, Minsk is now gifted with the most experienced army in the world: the Wagner musicians, masters of conventional (Libya, Ukraine) and non-conventional (Syria, Central African Republic) war.

    That is already inflicting the Fear of Hell in NATO, which is suddenly facing in its eastern flank a super pro army, very well equipped, and de facto uncontrollable, and on top of it hosted by a nation now equipped with nuclear weapons.

    Simultaneously, Russia props up dissuasion on its western front. Like clockwork that is leading NATOstan to invest in ballooning military budgets (with funds it doesn’t have). That process happens to be a key plank of Russian strategy since at least March 2018.

    And as an extra bonus Russia creates a 24/7 threat to the whole of Kiev’s northern front.

    Not bad for a “mutiny”.

    The Dance of the Oligarchs

    Way more complex is Russia’s internal dynamics. Putin’s current and subsequent difficult decisions may entail loss of popularity coupled with loss of internal stability -depending on the manner Kremlin-defined strategic victories are presented to Russian public opinion.

    Whatever 24/7 NATOstan mainstream media spin may come up with, the Kremlin’s official explanation for June 24 boils down to a Prighozin demonstration: he was just trying to shake things up.

    It’s way more complicated than that. There were strategic gains, of course, and Prighozin seems to have followed a very risky script that in the end favors Moscow. But it’s still too early to tell.

    A key sub-plot is how the Dance of the Oligarchs will proceed.

    Independent Russian media was already expecting some – treasonous – players, including state functionaries, to buy their one-way ticket when the going got tough (or to say they were “ill”, or refuse to answer important calls). The Duma – fed by Bortnikov’s FSB – is already working on a hefty list.

    The Russian system – and Russian society as well – see people like these as supremely toxic: in fact much more dangerous than the demshiza (a term that mixes “democracy” and “schizophrenia”, applied to globalist neoliberals).

    On the military front, it gets even more complicated. Putin has charged Defense Minister Shoigu to compile the list of Generals to be promoted after The Longest Day. To put it mildly, for quite a few people, from many different persuasions, Shoigu has become a toxic element in Russian politics.

    Wagner – rebranded, and under new management – will continue to serve Russia’s interests via Minsk, including in Africa.

    Old Man Luka, wily as ever, has already firmly stated there won’t be any provocations against NATO via Wagner. Wagner recruiting bureaus will not be opened in Belarus. Belarussians may join Wagner directly. As it stands, most of Wagner fighters are still in Lugansk.

    For all practical purposes, from now on the Russian government won’t have anything to do, militarily and financially, with Wagner.

    Additionally, there are no heavy weapons to be confiscated. Already on Monday, June 26, Wagner had moved their heavy weapons to Belarus. What remains – and had not been moved during The Longest Day – was returned to the Ministry of Defense (MoD).

    The Dance of the Generals

    A clear winner in the whole process is Russian public opinion: they made that graphically clear in Rostov. Everyone was supporting Putin, Russian soldiers, Wagner and Prighozin – at the same time. The overall objective was to improve the Russian army to win the war. It’s as straightforward as that.

    The purge inside the MoD will be tough. Under the pretext of repression or “rebellion”, operetta Generals” (as defined by Putin himself) that did not train their soldiers properly, did not organize the mobilization properly, or were incompetent in battle, will definitely be axed.

    The problem is that they’re all part of Gerasimov’s circle. To put it diplomatically, he needs to answer a lot of serious questions.

    And that’s what brings us to the “General Armageddon has been arrested” monster fake news gleefully parroted by the whole of the NATOstan info universe.

    General Surovikin did receive Prighozin in Rostov – but he was never an accomplice to the “rebellion”. Vice-Minister of Defense Yevkurov was also at the HQ in Rostov, and received Prighozin alongside Surovikin. Yevkurov may have played the role of strategically-placed observer.

    The Prighozin rebellion soap opera de facto started back in February – and nothing was done to stop it. Regardless whether one shares the official narrative – or not.

    What this implies is that the Russian state saw it coming. Does that make The Longest Day the Mother of All Maskirovskas?

    Once again: it’s complicated.

    Unlike the collective West, Russia does not practice or enforce cancel culture. Wagner was protected via martial law. Any insult against a “musician” fighting neo-nazi Banderistan would be met by as much as a 15-year jail term. Each Wagner fighter is officially a Hero of Russia – something Putin himself always stressed.

    On the maskirovka front, there’s no question the simmering tensions in Russian military circles before The Longest Day were manipulated, fog of war-style, to disorient the enemy. It worked like a charm. On the fateful June 24 itself, Surovikin was running a war, and not spending the day drinking brandy with Prighozin.

    The NATOstan axis is really clutching at straws. It took just a Surovikin-related rumor to send them into rapture – proving once again how deeply they fear General Armageddon.

    A key vector is how Surovikin is regarded by public opinion compared to the surviving “operetta Generals”.

    He built the now legendary three-layered defense which is already burying the “counter-offensive”. He introduced the wildly successful Shahed-136 Iranian drones in the battlefield. And he organized the meat grinder devastation in Bakhmut/Artemyovsk – which has already entered the military annals.

    Way back in the Autumn of 2022, it was General Armageddon who told Putin that Russian forces were not ready for a large-scale offensive.

    So whatever the 5th columnists fabricate, General Armadeggon is not going anywhere – except to win a war. And Russia is not “leaving” Africa. On the contrary: a rebranded Wagner is there to stay, and remains on speed dial in several latitudes.

    The trend, short term, seems to point to a – convoluted – draining of the Russian military swamp. The Longest Day seems to have galvanized Russians of all stripes into identifying who the real enemy is – and how to defeat it, whatever it takes.

    “Nothing happens by chance”

    Historian Andrei Fursov, reviving Roosevelt, observed that “in politics, nothing happens by chance. If it happens, you bet it was foreseen.”

    Well, maskirovska rides again.

    Yet the main problem faced by Russia is not the Hegemon and NATO: it’s domestic.

    Based on conversations with Russian analysts, and their impressions from very sharp people who lived in Russia, Ukraine and in the West, it would be possible to identify basically four main groups trying to impose their idea of Russia.

    1. The “Back to the USSR” gang. Includes, of course, some former KGB. Have some kind of support from the general population. A lot of educated specialists (old school pros, mostly pension age). This project suggests a revolution – a 1917 on steroids. But where is Lenin?

    2. The “Back to the Tsar” people. That would imply Russia as the “Third Rome” and a prominent role for the Orthodox Church. Hefty funds behind it. A big question mark is how much popular support, especially in “deep” Russia, they really have. This group has nothing to do with the Vatican – which is sold to The Great Reset.

    3. The Plunderers – as in robbing Russia blind in favor of the Hegemon. Congregates 5th columnists, and all manner of “totalitarian neoliberals” worshipping the “values” of the collective West. The remaining ones will soon get a knock on the door by the FSB. Their money is already blocked.

    4. The Eurasianists. This is the most feasible project – in close collaboration with China, and aiming towards a multipolar world. There’s no place for Russian oligarchs here. Yet the degree of collaboration with China is still highly debatable. The real burning question: how to really integrate, in practice, the Belt and Road Initiative with the Greater Eurasia Partnership?

    This is just a sketch – open for discussion. The first three projects may hardly work – for a series of complex reasons. And the fourth still has not gathered enough steam in Russia.

    What is certain is that all of them are fighting each other. May the current draining of the military swamp also serve to clear the political skies.

    Tyler Durden
    Sun, 07/02/2023 – 23:30

  • Economic Coercion: China's Leverage In Trade
    Economic Coercion: China’s Leverage In Trade

    China’s rise as a global economic superpower has brought with it an ability for the nation to utilize its economic dominance for geopolitical purposes.

    As Visual Capitalist’s Marcus Lu shows in this infographic, sponsored by The Hinrich Foundation, China’s dominant position in the solar photovoltaic (PV) supply chain has used as leverage against countries that are dependent on it for clean energy. 

    Dominance in the Solar Supply Chain

    Solar energy is playing a significant role in the green energy transition, and as this infographic shows, China’s dominance in the sector is clear.

    The solar PV supply chain starts with polysilicon, a key raw material needed to create wafers. China is home to seven of the top 10 producers of polysilicon, which includes companies like Tongwei Solar and Asia Silicon. 

    Where China is most dominant though, is in the manufacturing of wafers and cells. This is partly because it’s more economical to make these components close to wherever polysilicon is being produced. 

    The second-largest producer of cells and panels is the APAC region (ex-China), at 12% and 15% of total capacity. However, according to U.S. officials, much of this output is actually owned by Chinese firms attempting to evade U.S. tariffs. 

    While these companies would normally be subject to higher tariffs, the Biden administration has paused any tariff increases for the next two years. This can be interpreted as a sign of the country’s dependence on China for clean energy infrastructure, which could prove problematic given China’s history of economic coercion.

    Leveraging Trade for Geopolitical Purposes

    The second part of this infographic highlights past instances where China has used its commercial dominance for geopolitical purposes. 

    For example, in October 2010, the Norwegian Nobel Committee awarded the Nobel Peace Prize to Liu Xiaobo, a jailed Chinese dissident. China began stalling Norwegian salmon imports in response, and Norway’s market share of salmon exports to China fell from 92% in 2010, to 29% in 2013, according to the Financial Times.

    China took similar actions towards Australia in April 2020 after the island nation called for a detailed probe into the origins of COVID-19. Import bans on Australian goods like beef, timber, and coal were announced in retaliation. These restrictions were eventually lifted in May 2023.

    Given the massive size of China’s economy, import bans such as these can heavily impact a trading partner’s industries.

    More recently, China announced in December 2022 that it would be looking into new export controls over solar panel technologies. Given China’s already tight grip over the solar PV industry, this move could expand the nation’s playbook when it comes to economic coercion.

    Tyler Durden
    Sun, 07/02/2023 – 23:00

  • "The Great Reset Is What Globalists Want… But The Great Reject Is What They'll Get"
    “The Great Reset Is What Globalists Want… But The Great Reject Is What They’ll Get”

    By Greg Hunter’s USAWatchdog.com,

    Economic analyst and financial writer David Morgan went against the majority of financial gurus and predicted at the end of 2022 that there was no way the Fed was going to cut interest rates. 

    He said on USAWatchdiog.com in December, “Cut Interest Rates & Dollar is Done, Toast, It’s Over.”  Fed Head Jay Powell said this past week the Fed was raising interest rates at least two more times to “fight inflation.”  This was a direct hit by Morgan.  Morgan sees a coming currency crisis and a war crisis.  Morgan explains,Yes, we have both a currency crisis and a war crisis.  “

    “Let’s start with the currency crisis.  My favorite phrase for what is going on is ‘All fiat currency fails.’  We have never seen a time in all of recorded history that an unbacked currency does not go basically and effectively to zero.  When you say that ‘All fiat fails,’ there is a subgroup that says, yeah, but not the U.S. dollar. . . .I don’t know how many people have given me pushback on that statement from all over the world. . . . When I say fail, I don’t mean it goes to absolute zero.  What it means is a currency fails and a new system is implemented. . . . History is on my side

    The precursor to this is what takes place.  Substitution.  What is substitution?  Crypto currency and gold and silver, of course. . . . and things like people going off grid. 

    All of these are indicators of how to mitigate the end of the U.S. dollar or the end of the currency crisis.  We have this all over the place. . . . Sooner or later, there will be a run for the exits.  Where are the exits?  Crypto currencies, gold and silver, barter clubs or the BRICS currency.

    Morgan contends you just cannot run into an alternative to the U.S. dollar because there are going to be supply disruptions for everything.  You might not be able to get what you need no matter how much money you have.  So, be prepared in every way you can.

    Morgan also says,

    The Great Reset is what the bankers want, but the Great Reject…will come from many who will not want to go down that way. 

    That’s what is going to be the most interesting because anyone who is awake, and there are more people waking up all the time, they will understand that you cannot go from one fiat phony currency, lie-based system into another one that is digital only.”

    On the war crisis, the dark powers running the world want war.  Why?  Morgan says,

    “It covers up all the things that are wrong, and it also takes them off the hook.  It was the war.  The war did it.  All wars are bankers’ wars, and they are on both sides.  They make money regardless

    The main things are profit, but it also is mitigating their responsibilities.  They can get most people to think that it was the war that caused all this poverty, and, of course, the war will do that…

    They don’t have a real conflict with Ukraine and Russia.  They just need a way out, and it is the most profitable way out.  They are going to default on all this debt, and this is how they are going to do it.

    There is much more in the 40-minute interview.

    Join Greg Hunter of USAWatchdog.com as he goes One on One with David Morgan, founder of “The Morgan Report,” for 7.1.23.

    To Donate to USAWatchdog.com Click Here

    There is lots of free information that will be sent to you if you subscribe to TheMorganReport.com by email.  This is totally free, and you will get new analysis and content every week in your mailbox. 

    Ty
    Sun, 07/02/2023 – 22:30

  • Visualizing 'Real' US Home Price Growth Over The Last 50 Years
    Visualizing ‘Real’ US Home Price Growth Over The Last 50 Years

    U.S. home prices grew significantly in 2022, even as interest rates climbed higher.

    Yet, as Visual Capitalist’s Dorotrhy Neufeld details below, in inflation-adjusted terms, this growth rate was far lower. By Q4 2022, it fell to being flat year-on-year, making it the slowest real growth seen in a decade.

    The graphic below compares nominal and real residential property price growth over 50 years based on the latest data from the Bank for International Settlements (BIS).

    Nominal vs. Real Home Price Growth

    In 2022, opposing forces of rising mortgage rates and a narrow supply of housing produced a moderate nominal growth rate of just over 7% as of Q4 2022. That said, real price growth dropped to 0% over the period.

    Here’s how that looks in context of the recent highs and lows of housing price growth:

    Recent Highs: During the pandemic, growth hit almost a 20% year-over-year rate by Q1 2022, which was record home price growth at the time. It was driven by ultra-low interest rates and remote work leading people to seek out more space.

    Recent Lows: In both real and nominal terms, home price growth sank to their lowest levels in 2008. The property market crashed after a wave of easing lending requirements. This flooded the market with an oversupply of houses as subprime homeowners couldn’t afford to make payments, leading prices to plummet.

    Factors Influencing Home Price Growth

    Today, a mix of factors are supporting nominal house prices.

    First, the housing supply remains low.

    Total existing inventory stood at 1 million in April, under half the four-decade average. As interest rates have increased, homeowners have been hesitant to sell and the number of mortgage applications has fallen. In turn, this is pushing prices higher.

    In fact, the majority of primary mortgages have interest rates locked in under 4%. As of July 1, the average 30-year fixed mortgage rate stood much higher, at 7.02%.

    Along with this, new home sales are falling.

    After hitting a 15-year peak in 2021, sales sank almost 27% year-over-year in April. New home sales are often considered a leading indicator for the residential market.

    Wider Implications

    The U.S. residential market is valued at about $45 trillion, and has historically been highly sensitive to interest rates.

    While the rapid increase in interest rates haven’t yet had a major impact on housing prices, some cracks are beginning to show.

    On the other hand, if prices remain stubborn, it may contribute to inflationary pressures, leading the Federal Reserve to continue with rate increases, given the market’s sheer size and influence on the overall U.S. economy.

    Tyler Durden
    Sun, 07/02/2023 – 22:00

  • Hunter Biden's Former Business Partner Was Willing To Testify Before Grand Jury; Delaware US Attorney Didn't Answer His Calls
    Hunter Biden’s Former Business Partner Was Willing To Testify Before Grand Jury; Delaware US Attorney Didn’t Answer His Calls

    Authored by Debra Heine via American Greatness,

    Tony Bobulinski, a former business partner who worked directly with Hunter and James Biden on a sketchy deal with a Chinese energy firm and who came forward as a whistleblower before the 2020 election, was never asked to testify to the Delaware grand jury investigating Hunter Biden, CBS News reported Thursday.

    Bobulinski was reportedly “open to testifying, and his attorney reached out to the office of Delaware U.S. Attorney David Weiss,” but the prosecutor did not return their calls, two sources familiar with the discussions told CBS News’ Catherine Herridge.

    Weiss’ decision to ignore Bobulinski is the latest indication that prosecutors purposefully tanked the investigation to protect Hunter’s father, Joe Biden.

    Last week, whistleblower documents were released revealing that federal prosecutors repeatedly interfered on Hunter Biden’s behalf during the probe into the younger Biden’s business dealings. According to former IRS supervisory agent Gary Shapley and an unnamed IRS agent, federal prosecutors blocked two search warrants and refused to press more extensive criminal charges.  The whistleblower also testified that when agents sought a search warrant for Hunter Biden’s storage locker, prosecutors tipped off Biden’s legal team so they could remove any incriminating evidence.

    Shapley also said he was stopped from pursuing investigative leads into “dad” or the “big guy.”

    Shapley, who is still a supervisory special agent with the IRS, says he was prevented from pursuing any leads that involved President Joe Biden, including the now-infamous 2017 email from James Gilliar, a business associate of Hunter Biden’s, which bore the subject line “Expectations” and outlined a “provisional agreement” for “equity” in a deal with a Chinese energy company.

    Two of Hunter Biden’s former business partners who received the message told CBS News that a line in the email — “10 held by H for the big guy?” — was shorthand for 10% held by Hunter Biden for his father.

    Shapley told CBS News that his efforts to look further into money trails that involved “dad” or “the big guy” were blocked by a senior prosecutor working for Weiss.

    “I would say that they limited certain investigative leads that could have potentially provided information on the president of the United States,” Shapley told CBS News.

    Shapley also alleges that in August 2020, an iCloud search warrant recovered the threatening  July 2017 WhatsApp “shake-down” message from Hunter Biden to Chinese businessman Henry Zhao about an outstanding payment.

    “I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled. Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight,” Hunter Biden allegedly wrote. “And, Z, if I get a call or text from anyone involved in this other than you, Zhang, or the chairman, I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction. I am sitting here waiting for the call with my father.”

    According to Shapley, prosecutors “denied” the IRS investigators’ efforts to learn more about the message.

    On Sept 4, 2020, according to the IRS whistleblowers, the DOJ ordered a “cease and desist” on any overt investigation of Hunter Biden or Biden family influence peddling. They also claim that the FBI hid the 1023 form alleging foreign bribery from the IRS case attorneys overseeing the case.

    The FBI verified that Hunter Biden’s laptop was real in 2019, yet worked with social media platforms to censor reporting on it before the 2020 election.

    And now it has come to light that prosecutors didn’t even bother to have a the key witness testify before the grand jury.

    Bobulinski came forward in October of 2020, revealing during a conference press in Nashville, Tennessee two hours before the presidential debate that he had personally met with Joe Biden in May 2017, as part of discussions over the potential business deal with Chinese energy firm, CEFC.

    “In my approximately hour long meeting with Joe that night, we discussed Biden’s history, the Biden’s family business dealing plans with the Chinese, with which he was plainly familiar, at least at a high level,” Bobulinski said. Joe Biden has repeatedly claimed that he had nothing to do with Hunter Biden’s overseas business dealings.

    “I’ve heard Joe Biden say that he’s never discussed business with Hunter, that is FALSE,” Bobulinski alleged. “I have first-hand knowledge about this because I directly dealt with the Biden family, including Joe Biden,” he added.

    The FBI had Bobulinski sit for an interview the next day, and made him turn over copies of his cell phones.

    In a statement, James Comer, chairman of the House Committee on Oversight and Accountability, said prosecutors “prevented investigators from taking any steps to verify this evidence that could lead to President Biden.”

    “The fact that a key witness associated with the CEFC deal was not brought in to testify before the grand jury proves again that the Justice Department is engaged in a coverup,” said Comer, who vowed to “pursue a thorough investigation into the Department of Justice’s misconduct.”

    Attorney General Merrick Garland insisted on June 23 that Weiss had “complete authority to make all decisions on his own.”

    s the U.S. attorney in Delaware and assigned this matter during the previous administration, [he] would be permitted to continue his investigation and to make a decision to prosecute any way in which he wanted to,” Garland said.

    Earlier this month, Hunter Biden pleaded guilty to just two federal misdemeanor counts of failing to pay his taxes, and was spared prison time.

    A federal judge still needs to sign off on “sweetheart” plea bargain prosecutors brokered with Hunter Biden’s legal team.

    U.S. District Court Judge Maryellen Noreika of the District of Delaware set a court date of July 26 for Biden to make his initial court appearance related to the plea deal

    Noreika, who was appointed to the federal bench by President Donald Trump, will have the power to either approve or reject the plea agreement.

    credittrader
    Sun, 07/02/2023 – 21:30

  • India's Way To A More Peaceful Nation?
    India’s Way To A More Peaceful Nation?

    Over the years, India’s score on the Global Peace Index has fluctuated, reaching a low during the 2019-2020 Citizenship Act protests.

    However, as Statista’s Katharina Buchholz notes, due to other countries struggling more, the nation’s rank in the report has still improved somewhat more gradually.

    In its latest release Wednesday, India ranked 126th – a “medium” score.

    Infographic: India's Way to a More Peaceful Nation? | Statista

    You will find more infographics at Statista

    The last time the country scored in this category was 2018 – in the meantime, it was classified as “low”.

    The report does not take into account this year’s violence in Manipur, however, which will be reflected in next year’s release.

    Before the incidents, India’s score on the Global Peace Index had improved drastically, improving in the regions of “violent crime, neighboring countries relations and political instability”, according to the report.

    However, India was still only the 21st most peaceful country in Asia out of 26 surveyed, coming in right at the bottom of the “medium” category.

    The publication put the economic cost of violence in India at $1 trillion PPP dollars or 6 percent of GDP.

    Tyler Durden
    Sun, 07/02/2023 – 21:00

  • Israel Buys 25 More Lockheed F-35 Stealth Jets In $3 Billion Deal
    Israel Buys 25 More Lockheed F-35 Stealth Jets In $3 Billion Deal

    Via The Cradle,

    Israel’s Ministry of Defense announced the purchase of a third squadron of F-35 stealth fighter jets in a deal worth $3 billion, Reuters reported on Sunday. Israel will now boast 75 of the Lockheed Martin manufactured war planes in its arsenal.

    The defense ministry added further that the deal will be financed through the defense aid package Israel receives from the US.

     Israeli F-35s

    Israel was the first foreign recipient of the F-35, also known in the US as the Joint Strike Fighter and in Israel by its Hebrew name “Adir.” Israel first used the F-35 in combat when it bombed Syria in 2018.

    “The F-35 squadron has become an operational squadron,” Maj. Gen. Amikam Norkin said at the time. “We are flying the F-35 all over the Middle East – we might be the first to attack with F-35 in the Middle East,” he said.

    Norkin presented images of the F-35 violating Lebanese airspace by flying over Beirut. The development and production costs of the F-35, paid primarily by the US military, have been estimated at near $1.5 trillion. It is considered the most expensive military weapons system in history.

    The F-35 is considered crucial in what Israeli planners call the “war between wars” against Iranian supported units of the Syrian military, as well as in the event that Israel would choose to eventually strike Iran’s nuclear program.

    Just before the F-35 deal was announced Sunday, Israeli warplanes again bombed Syrian sites. Syrian state media SANA reported that the “Israeli enemy carried out an air aggression from the direction northeast of Beirut, targeting some points in the vicinity of the city of Homs.”

    The bombing resulted in material damages, but no casualties. With this latest attack, Israel has bombed Syria 19 times since the start of 2023 and 13 times since the earthquake struck the country in February.

    Israel’s air force has regularly bombed Syria since the start of the US-led covert war on Damascus starting in 2011. At the time, Israeli officials insisted they were taking no part in the war, which was unleashed by Washington using extremist Salafist militias who attacked Syrian security forces and police under the cover of anti-government protests.

    However, Israeli officials acknowledged in 2013 they had hoped to depose Syrian President Bashar al-Assad since the start of the war, while reports later emerged of the Israeli air force bombing Syrian army positions to assist the Al-Qaeda affiliated Nusra Front during battles between the two sides.

    Tyler Durden
    Sun, 07/02/2023 – 20:30

  • White House Wants To Block Sunlight To Save Planet From 'Global Warming'
    White House Wants To Block Sunlight To Save Planet From ‘Global Warming’

    Despite the European Commission’s recent warning that large-scale interventions such as solar engineering to reverse ‘climate change’ could have “unintended consequences,” the White House published a new report Friday indicating that the Biden administration wants to manipulate planetary systems to block the sunlight to save the planet. 

    The congressionally mandated report released by the White House Office of Science and Technology Policy shows the Biden administration is very eager to explore “geoengineering” methods to block sunlight because they allege the planet is burning and there’s an imminent climate crisis that will destroy the world. 

    “A program of research into the scientific and societal implications of solar radiation modification (SRM) would enable better-informed decisions about the potential risks and benefits of SRM as a component of climate policy, alongside the foundational elements of greenhouse gas emissions mitigation and adaptation,” the White House report said. 

    The report continued, “SRM offers the possibility of cooling the planet significantly on a timescale of a few years.” 

    In a statement, the White House said, “There are no plans underway to establish a comprehensive research program focused on solar radiation modification.” 

    There is no official government policy that was attached to the report. The administration noted Congress ordered the report. 

    The report was released one day after the European Commission outlined the potential risks and “unintended consequences” of manipulating planetary systems to fight global warming. 

    The commission warned:

    In the context of accelerated global warming, deliberate large-scale intervention in the Earth’s natural systems (referred to as “geoengineering”), such as solar radiation modification, is attracting more attention. However, the risks, impacts and unintended consequences that these technologies pose are poorly understood, and necessary rules, procedures and institutions have not been developed. 

    Some of these risks include:

    These technologies introduce new risks to people and ecosystems, while they could also increase power imbalances between nations, spark conflicts and raises a myriad of ethical, legal, governance and political issues. 

    Blocking the sun’s rays globally with artificial particles in the name of ‘climate change’ is gaining traction. However, there’s too much risk involved that could possibly harm biodiversity and agriculture on a global scale. The fact that this technology could alter global weather patterns and the Biden administration wants to explore it — is frightening. 

    … and Mr. Burns from the animated television series The Simpsons tried this.

    Tyler Durden
    Sun, 07/02/2023 – 20:00

  • The Affirmative Aftermath: Schools Now Insist That Race Had A Major Impact In Admissions
    The Affirmative Aftermath: Schools Now Insist That Race Had A Major Impact In Admissions

    Authored by Jonathan Turley,

    There is an interesting debate unfolding around the country in the aftermath of the Supreme Court barring the use of race in college admissions.

    For decades, colleges and universities have sought to downplay the weight given to race in court while insisting that it was one of a number of factors used in maintaining diversity. Now, however, schools are insisting that, without considering race, minority admissions will plummet.

    During the Supreme Court oral arguments over affirmative action, Harvard’s counsel Seth Waxman struggled with an argument that race consideration was needed to maintain current admissions for minorities. Yet, he also maintained that it was not a major factor and that the consideration of race with regard to Asian students produced only a “slight disparity” and “had no effect with respect to outcomes.”

    It was no easy argument. As in past cases, the Court was assured that it was just one of a number of “tips” that was not substantial in the decisions. Yet, after the Court barred the use of race criteria, schools are now arguing that it will make a massive difference and substantially reduce minority admissions.

    Since the 1970s, the Supreme Court has ruled that race could not be a determinative or major factor in admissions. In Regents of the University of California v. Bakke, the Court ruled against affirmative action. In his plurality decision, then-Justice Lewis F. Powell Jr. stopped short of barring the use of race in admissions entirely. Instead, he cited Harvard University’s admissions policy as an example of how race can be one of a number of diversity elements.

    In the 2003 decision in Grutter v. Bollinger, the Court upheld Michigan’s use of race but then-Justice Sandra Day O’Connor cautioned that the court “expects that 25 years from now, the use of racial preferences will no longer be necessary to further the interest approved today.” That was 20 years ago.

    Since that time, universities have insisted that they only use race as one of many factors and that it does not carry the determinative weight rejected in Bakke. For decades, universities and colleges maintained this difficult line of downplaying the importance of race in admissions.

    However, even the limited use of racial classifications continued to divide the Court for decades. In 2017, Chief Justice John Roberts declared:

    “The way to stop discrimination on the basis of race is to stop discriminating on the basis of race.”

    In his decision last week, Roberts noted that minority students could still raise their own individual struggle with racial discrimination in essays, but that schools cannot employ threshold classifications to give an advantage or disadvantage because of race.

    Many of us support efforts to maintain diverse classes and see the value of such diversity in the education process. I have found economic diversity to be one of the most important elements to my classes. Students who come from lower income families often have a sharply different view on many of the issues that we discuss in our classes.

    Yet, it is the frank discussion of the racial criteria that is so interesting in the aftermath of the decision. Many now insist that racial criteria was determinative in a large number of applications.

    The latest was State University of New York (SUNY) system Chancellor John B. King, Jr. who gave a strikingly conflicted account on NPR that was not challenged in the interview.

    On Friday’s broadcast of NPR’s “Morning Edition,” King stated that an admissions process based only on individual merit would result in “fewer black and Latino students on campuses.” Yet, at the same time, he insisted that use of individual merit alone would not impact white or Asian students.

    He told host Steve Inskeep:

    “Yeah. Again, I think they’re misrepresenting how the admissions process works. There are policies at Harvard, for example, where students are admitted because they are legacies, because they’re one of multiple generations in their family to go to Harvard. There are students who are admitted because they’re a tuba player. There are students who are admitted because they’re great lacrosse players. And so, there [are] a range of factors as universities try to build a diverse class.”

    King then emphasized “by removing the tool of race-conscious admissions, the evidence is it results in fewer black and Latino students on campuses.”

    Of course, a minority student who plays the tuba can still get that “tip” with other indications of individual merit separate from racial classifications. Minority students clearly have similar “tips” based on individual merit from achievements in tuba to tennis to trigonometry. If the factor was given no more weight than a tuba talent, one would think that the drop in admissions would not be as severe given a myriad of other qualifications or tips in applications.

    Soon after the decision, California Gov. Gavin Newsom objected to the ruling in saying that admitting students solely based on their individual merits, without considering race, would result in a massive drop in minority admissions.

    Likewise, over at The Nation, Elie Mystal insisted that, without factoring in race, minority admissions always drop: “In California, which ended its affirmative action policies over 25 years ago, the studies show that, without affirmative action, Black enrollment plummets, Latino enrollment plummets.” He insisted that this was a victory for “mediocre white people.”

    [Mystal later attacked Justice Thomas on MSNBC, describing Thomas as a “mutilated version of a black justice” who just did whatever his wife, who is white, tells him to do. Rather than accept that Thomas holds opposing constitutional views, Mystal insisted “he doesn’t want to see anything that Ms. Ginni tells him he shouldn’t be able to see.”]

    The difference between the arguments and the aftermath of the affirmative action decision is striking. What was presented as a relative modest “tip” based on race to the Court is now being presented as a huge factor in admissions. If left to individual merit, advocates and administrators now insist that that minority admissions will sharply decline and white/Asian admissions will rise.

    Nevertheless, King insists that such determinative use of race had no negative impact on white or Asian students while insisting that the number of admissions for white or Asian students will increase substantially when only individual merit is accessed.

    That was all to explain why people just do not understand “how the admissions process works.”

    Tyler Durden
    Sun, 07/02/2023 – 19:30

  • Ahead Of Independence Day, These Are The Most-Searched-For Foods To BBQ In Each State
    Ahead Of Independence Day, These Are The Most-Searched-For Foods To BBQ In Each State

    You know it’s coming… The White House will most likely be bragging on July 4 or days before via Twitter that Americans are finally saving on cookouts as ‘Bidenomics‘ is a success. Anyone with a wallet who works hard for their money knows the White House is full of malarky. 

    Americans have been battered with two years of negative real wage growth, forcing them to deplete personal savings and rack up record credit card debt in a high-interest rate environment to survive the worst inflation storm in a generation. But don’t worry because none of that matters to White House officials — they’re in cheerleading mode about taking credit for everything good and none of the bad. 

    As Independence Day quickly approaches, Americans will still be paying near-record high prices for hamburger meat. The good news is that egg prices have collapsed, which could provide relief for deviled egg lovers. Food inflation likely has abated from last year’s levels but remains well over pre-Covid levels. 

    For those planning cookouts, USA Today has released the latest BBQ trends across all 50 states and the District of Columbia of the most searched foods. 

    Even though residents in sixteen states wanted veggies, the rest of the country preferred meat. 

    Here are the top ten searched BBQ foods:

    1. BBQ chicken

    2. BBQ ribs

    3. BBQ pork chops

    4. BBQ meatballs

    5. BBQ shrimp

    6. BBQ pulled pork

    7. BBQ brisket

    8. BBQ baked beans

    9. BBQ salmon

    10. BBQ meatloaf

    There were 16 states and Washington, DC, that saw higher search trends for grilling vegetables versus meat. 

    On a state-by-state basis, here’s the most searched “how to grill” food: 

    Alabama – Corn on the cob

    Alaska – Corn

    Arizona – Burgers

    Arkansas – Ribs

    California – Tri tip

    Colorado – Chicken breast

    Connecticut – Spare ribs

    Delaware – Salmon

    District of Columbia – Chicken breast

    Florida – Mahi mahi

    Georgia – Wings

    Hawaii – Ahi tuna

    Idaho – Steak

    Illinois – Pork chops

    Indiana – Corn in husk

    Iowa – Asparagus

    Kansas – Salmon

    Kentucky – Shrimp

    Louisiana – Steak

    Maine – Chicken

    Maryland – Eggplant

    Massachusetts – Swordfish

    Michigan – Asparagus

    Minnesota – Asparagus

    Mississippi – Ribs

    Missouri – Corn on the cob

    Montana – Asparagus

    Nebraska – Corn on the cob

    Nevada – Burgers

    New Hampshire – Asparagus

    New Jersey – London boil

    New Mexico – Chicken

    New York – Clams

    North Carolina – Filet mignon

    North Dakota – Asparagus

    Ohio – Chicken

    Oklahoma – Corn on the cob

    Oregon – Lamb chops

    Pennsylvania – Filet mignon

    Rhode Island – Salmon

    South Carolina – Pork chops

    South Dakota – Burgers

    Tennessee – Pork chops

    Texas – Ribs

    Utah – Chicken

    Vermont – Salmon

    Virginia – Portobello mushrooms

    Washington – Flank steak

    West Virginia – Asparagus

    Wisconsin – Brats

    Wyoming – Burgers

    The good news is Americans have yet to search for “how to grill” insects. As we’ve noted, there’s a push by international non-governmental agencies, such as WEF, as well as some governments, to reset the food supply chain to swap out meat diets for insects. Americans won’t stand for that nonsense. 

    Tyler Durden
    Sun, 07/02/2023 – 19:00

  • Dalio: Why The World Is On The Brink Of Great Disorder
    Dalio: Why The World Is On The Brink Of Great Disorder

    Authored by Ray Dalio, op-ed via Time.com,

    I’m a global macro investor who has been betting on what’s going to happen for over 50 years. I’ve been through all sorts of events and cycles in all sorts of places over a long time which led me to study how these events and cycles work. In the process, I learned that I needed to study history to understand what’s going on and what’s likely to happen.

    Early in my career, I learned though a couple of painful mistakes that the biggest things that surprised me did so because they never happened in my lifetime but had happened many times in history. The first time that happened was on August 15, 1971 when I was clerking on the floor of the New York Stock exchange and the U.S. defaulted on its debt promise to allow people to turn in their paper dollars for gold. I thought that this was a big crisis that would send stock prices down but they went up a lot. I didn’t understand why because I’d never experienced a big currency devaluation before. When I looked back in history, I saw that the exact same thing happened on March 5, 1933 when Roosevelt defaulted on the U.S.’s promise to let people turn in their paper money for gold and stocks went up. That led me to study and learn why—which is that money could be created, and when it’s created, it goes down in value which makes things go up in price. That experience led me to study the rises and declines of markets, economies, and countries which I’ve done ever since. For example, my studying how the 1920s debt bubble turned into the 1929-33 financial collapse led me to anticipate and profit from the 2008 financial crisis. That’s how I learned that it’s critical to take a longer-term perspective and understand the mechanics behind why history rhymes.

    A few years ago, I saw three big things happening that hadn’t happened in my lifetime but had happened in the 1930-45 period. These were:

    1. The largest amounts of debt, the fastest rates of debt growth, and the greatest amounts of central bank printing of money and buying debt since 1930-45.

    2. The biggest gaps in wealth, income, values, and the greatest amounts of populism since the 1930-45 period.

    3. The greatest international great powers conflict, most importantly between the U.S. and China, since 1930-45.

    Seeing these three big things that never happened in these magnitudes in my lifetime led me to study the rises and declines of markets, economies, and countries over the last 500 years, as well as the rises and declines of China’s dynasties the last 2,100 years.

    That examination showed me that these three big forces—i.e. the debt/money one, the internal conflict one, and the external conflict one—transpired in big cycles that reinforced each other to make up what I call the Big Cycle. These cycles were driven by logical cause-effect relationships Most importantly, this study of the last 500 years of history taught me that:

    1. The previously described financial conditions repeatedly proved to be leading indicators of big financial crises that led to big shifts in the financial order.

    2. The previously described levels of political and social gaps repeatedly proved to be leading indicators of great conflicts within countries that led to big changes in domestic orders.

    3. The previously described great powers’ conflicts repeatedly proved to be leading indicators of international conflicts that led to big changes in the world order.

    Said differently, history shows that the painful seismic shifts part of the Big Cycle comes about when there is simultaneously 1) too much debt creation that leads to debt bubbles bursting and economic contractions which cause central banks to print a lot of money and buy debt, 2) big conflicts within countries due to big wealth and values conflicts made worse by the bad economic conditions, and 3) big international conflicts due to rising world powers challenging the existing world powers at a time of economic and internal political crises In doing this study, I also saw two other big forces that had big effects. They are:

    1. Acts of nature (droughts, floods, pandemics) including climate change.

    2. Learning leading to inventions of technologies that typically produced evolutionary advances in productivity and living standards —e.g., the First and Second Industrial Revolution, and computing/AI revolution.

    I call these the Five Big Forces. I saw how they affect each other and change in logical ways to produce the Big Cycle that produces big changes in the world order. I came to realize that if one understands and follows each of these forces and how they interact, one can understand most everything that’s changing the world order. That’s what I’m trying to do.

    I will give you a quick summary of what I learned from my study but if you want to lean more about how and why things change you can get that in my book Principles for Dealing with the Changing World Order.

    Where We Are and What’s Likely Ahead

    1. The Financial/Economic Force

    In the U.S., we are now in middle part of what I call the short-term debt cycle and is also known as the business cycle. These short-term debt cycles have lasted 7 years on average, give or take about 3 years. There have been 12 1/2 of them since the new monetary world order started in 1945. So, we are now about half-way though the 13th of the cycles, at the point of the cycle when the central bank has tightened money to fight inflation that is just before the debt and economic contractions which will likely come over next 18 months.

    We are also in a late and dangerous part of the long-term debt cycle because the levels of debt assets and debt liabilities have become so high that it is difficult to give lender-creditors a high enough interest rate relative to inflation that is adequate to make them want to hold this debt as an asset without making interest rates so high that it unacceptably hurts the borrower-debtor. Because of unsustainable debt growth, we are likely approaching a major inflection point that will change the financial order. Said differently, it appears to me likely that we are approaching a debt/financial/economic restructuring that will lead to big changes to the financial order.

    More specifically. it appears likely to me that because of large deficits the U.S. Treasury will have to sell a lot of debt and it appears there will not be adequate demand for it. If that happens, it will lead to either much higher interest rates or the Fed printing a lot of money and buying bonds which will devalue money. For these reasons, the debt/financial conditions could worsen, perhaps very significantly, over the next 18 months.

    2. The Domestic Order Force

    In several countries, most importantly the U.S., we have seen a growing percentage of the population that are populist extremists (about 20-25 percent of the right are extreme and about 10-15 percent of the left are) and a shrinking of the percentage of the population that are bipartisan moderates. Though the bipartisan moderates still remain in the majority, they constitute a declining percentage of the population and they are far less willing to fight and win at all costs. In studying history, I saw this growing populism of both sides and increased conflict has repeatedly occurred when large gaps in wealth and values existed at the same time as bad economic conditions. At such times, significant percentages of the population chose populist political leaders who vowed to fight and win for them rather than compromise. In my book, I described the state the U.S. is now in as Stage 5 (“When There Are Bad Financial Conditions and Intense Conflict”) of the “internal order cycle,” which comes just before some sort of civil war and changes in the domestic order. That is what is now happening.

    Looking ahead, the next 18 months will be an increasingly intense big election period which will lead to much greater political conflict which is likely to sharper the divide between the left and the right. Thirty-three Senate seats, the presidency, and control of the House will be fought over by a number of populist candidates and there will likely be poor economic conditions, so the fights will be vicious and there will be a real test of rule-following and compromising, both of which are required to make democracies work. You can see the movement toward a win at all cost fight while the respect for the legal and political systems declines. You can see this dynamic playing out even now, in things like Donald Trump and his followers being at war with the justice system, or as he and his followers would say, the system’s war against him. Whichever perspective you have, it is clear that we are headed into a type of civil war over the next 18 months. To me the most important war is between the bipartisan moderates and the populist extremes, yet the bipartisan moderates are for the most part quietly staying out of this fight. The only thing the Democrats and Republicans can agree on, which most Americans also agree on, is being anti-China which brings me to my next big force.

    3. The International World Order Force

    The conflicts between the U.S. and China are likely to intensify as domestic political tensions will likely lead to increased aggressiveness toward China. That is because in the U.S. most everyone is anti-China and those running for office will want to out-China-bash each other in an election year. China and the US are already dangerously close to some form of war, whether an all-out economic one or, worse, a military one. There are also important elections in Taiwan next year, which is already a flash point in U.S.-China elections, and a U.S.-backed push for Taiwanese independence is something to keep a close eye on when weighing the potential for even more overt U.S.-China conflict. There are several issues—Taiwan, chips, dealing with Russia, sanctioning investments—that are being fought over, and both sides are preparing for war. I don’t mean to say that we are destined for war, but I do mean that the odds of some form of a major conflict are dangerously high.

    4. Acts of Nature

    Acts of nature are of course harder to predict accurately, but they appear to be getting worse and are likely to be more costly and damaging over the next five to ten years due to climate change. Also, the world is entering an El Niño phase of the climate cycle over the next year.

    5. Technology

    What can we expect from technology/human inventiveness? Like acts of nature, it is hard to know exactly, though there should be no doubt that generative AI and other technological advances have the potential to cause both massive productivity gains and massive destructions, depending on how they are used. The one thing that we can be sure of is that these changes will be greatly disruptive.

    Exactly how events will unfold is beyond my ability to say, but there is no doubt in my mind that those who assume that things will work in the orderly ways we have gotten used in the last few decades will be shocked and probably hurt by the changes to come.

    How well these changes are managed will make all the difference. If our leaders can rise above their tendencies to fight and instead focus on cooperating, we can certainly navigate these tricky times to create a better world for most people. Presumably, this outcome is best for everyone, so we should be strongly against civil disorder and war between nations, keeping it in the back of our mind so we strive for cooperative decision-making. For example, now that a debt ceiling agreement has passed, it would be great to see the Democrats and Republicans mutually agree on a bipartisan group of very skilled people to come up with a practical, long-term bipartisan plan. I wrote an article “Why and How Capitalism Needs to be Reformed?” years ago which is still relevant today in case you’re interested. Having said that, it is probably unrealistic to believe that we can materially change the course of events, so what is most important for most people is to visualize the worst. If you do that, you will be prepared for it and will probably be fine.

    In closing I should say that the most important thing I’ve learned in my 50 years of being a global macro investor is that I can be wrong. For that reason, while I suggest that you consider what I am sharing, I also suggest that you assess it and the circumstances for yourself.

    Tyler Durden
    Sun, 07/02/2023 – 18:30

  • "I Don't Think We'll Ever Get To The 2024 Election", Col. Douglas Macgregor (Ret) Warns
    “I Don’t Think We’ll Ever Get To The 2024 Election”, Col. Douglas Macgregor (Ret) Warns

    Retired US Army Colonel Douglas Macgregor joined Patrick Bet-David on his PDB Podcast for a lengthy discussion of  Russia, Ukraine, the woke military, the Trump Tape, China, and much more.

    However, one section in particular caught our attention.

    Bet-David recently laid out how he thinks 2024 will play out in a long tweet:

    2024 strategy to have Newsom replace Biden:

    Step 1:  have Newsom go around defending Biden. Selling Biden’s record.

    Shows loyalty

    Step 2: have him constantly attack Desantis.

    Dems are convinced Trump will be forced to drop out

    Step 3: if Biden doesn’t step down, have mainstream media attack him

    It’s already happening. ABC, CBS & NBC all went after him starting this week.  

    Step 4: once Jill notices these endless attacks have a private meeting with Biden sharing strategy to save face if he steps down

    1. Multiple documentary showing him as modern day FDR.

    2. Massive Simon & Schuster book deal 💰

    3. Defend his legacy & be pardoned by Newsom if 💩 hits the fan

    Step 5:  choose one of few options to step down

    1. Due to health

    2. Jill and I prayed about it and we decided it’s time for us to go spend time with the grandkids.

    3. “We fixed everything Trump broke and now it’s time for someone else to do it”

    4. Edify Newsom as being loyal to Biden unlike Desantis not being loyal to Trump.

    Step 6:  In order to prevent Kamala from backstabbing, let her become the first female president for a split second when Biden steps down.

    Hilary will lose her mind but what’s new?  

    Step 7: Divide Desantis and Trump camp to make sure MAGA Doesn’t vote for Desantis

    Step 8: Newsom becomes 47 [48]

    And last but not least, it’s very likely that NONE of the above will happen, which is why it’s called a prediction.  

    Remember: ONLY THE PARANOID SURVIVE.

    In response to this, Macgregor went dark, beginning by noting that “first of all I think it’s brilliant. And I think that if we were living in a linear world – in other words, when one event follows the next logically; you’re absolutely right.”

    “But,” Macgregor warns “I don’t think we’ll ever get to the 2024 election.”

    “I think things are going to implode in Washington before then.”

    From there it gets more ominous…

    Watch the full podcast below (fwd to 1:51:30 for the discussion above):

    Full transcript:

    I don’t think we’ll ever get to the 2024 election.

    I think things are going to implode in Washington before then.

    I think our economic Financial condition is fragile – it’s going to come home to roost in ugly ways.

    Now I will tell you I don’t know exactly how it will happen, but I think we’re going to end up in a situation where we find out the banks are closed for two or three weeks, and nobody can get into them.

    I think we’re going to run into something like that.

    I also think that the levels of violence and criminality in our cities is so high that it’s going to spill over into other places in society.

    People that normally think they can live remote from the problem are now beginning to be touched by the problem.

    Then I look at this thing in Ukraine.

    I think Ukraine is going to lose catastrophically – it’s going to be a complete collapse and that too is going to have an effect here at home because people are going to say, well, wait a minute everybody told us Ukraine was winning, everybody told us X Y and Z.

    I mean sort of the the Russian hoax on steroids.

    All of those things are going to come together or converge in some way that’s going to prevent us from reaching you know the status quo. Oh. another election… Oh, another set of campaigns… And so forth…

    Cloward and Piven would be proud!!

    Tyler Durden
    Sun, 07/02/2023 – 18:00

  • California Teachers' Union Threatens Local School Board With Legal Action Over Flag Policy
    California Teachers’ Union Threatens Local School Board With Legal Action Over Flag Policy

    Authored by Micaela Ricaforte via The Epoch Times,

    California’s statewide teachers’ union sent a letter June 27 to the Chino Valley Unified School board criticizing its recent decision to allow only government flags on school property—and threatening to take legal action against the board if the policy is not reversed.

    Chino Valley Unified School Board President Sonja Shaw speaks in support of a parental rights policy proposal at a press conference in Chino, Calif., on June 15, 2023. (California Family Council/Screenshot via The Epoch Times)

    The board voted 4–1 June 15 to allow only the California and U.S. flags on school property.

    The California Teachers Association—with more than 300,000 members—in partnership with local union Associated Chino Teachers alleges in the letter the decision violates teachers’ right to free speech under the First Amendment as well as a state employment law.

    The union also said the district further violated state employment laws because it made a decision that affected the current status quo for teachers without giving the local union proper notice or a chance to negotiate terms.

    The letter asked the board to reverse its policy by July 3 or face legal action.

    “In the event that the board insists on interfering with the constitutional … rights of district employees, the [union] will pursue all available legal remedies for the district’s conduct, including, but not limited to, filing a suit in Superior Court and/or an unfair practice charge with [the Public Employee Relations Board],” the letter stated.

    School district Board President Sonja Shaw told The Epoch Times that administrators reached out to the local union to give them a chance to voice their concerns about the flag policy after it was first introduced on June 1.

    However, she said, administrators did not meet with the union until June 28, nearly two weeks after the board voted to approve the policy.

    Shaw further stated she considered the letter a “bullying tactic,” and was prepared for any legal action the unions might take.

    “They think they can bully us, threatening us with lawsuits,” Shaw said.

    “I’m not backing down.”

    She said she believed the teachers’ unions should be focused on student academic issues.

    “This has nothing to do with taking away freedom from a teacher. We all know at a workplace you have limitations and standards,” Shaw said.

    “[The upset over flags] is a weird push towards things that shouldn’t be their focus, especially when our kids are dealing with learning loss and mental health issues.”

    She added that most parents and residents she’d heard from supported the flag policy—and added that the letter was evidence that teachers’ unions were more concerned with pushing their own agendas than actually serving the community.

    At the board meeting, Shaw gestured to the American flag and said, “This is why we’re here. This flag unites us all … the United States stands for all of us. A teacher who has to display sexuality in their classroom is a problem for me as a parent and board member.”

    The meeting drew nearly 300 parents, teachers, and community members.

    A parent speaks at a Chino Valley Unified School Board meeting where board members voted to block the LGBT pride flag from being displayed in classrooms in Chino, Calif., on June 15, 2023. (Screenshot via YouTube/Chino Valley Unified School Dist Board Videos)

    Some who spoke during public comment thanked the board for taking the complicated issue on.

    “Just as Bibles, prayer, and the Ten Commandments have been taken out of classrooms, we need to hold fast to those standards of equality and not allow a flag that represents a minority of the district population to be displayed in our classrooms or on our campuses,” said one parent. “Many students here have religious beliefs that don’t align with what the Pride flag represents … We are all Americans here … and the stars and stripes represent every single student in the district.”

    Others said they were concerned that the policy would make LGBT students “unsafe.”

    “This policy is incredibly damaging to our community,” said one high school student during public comment.

    “Pride flags provide a symbol of hope and safety. It’s a reminder we are not alone in our struggles.”

    The issue comes after several local Orange County governing boards—including the Orange Unified School Board and the city of Huntington Beach—voted this year to allow only government flags to fly on official or district property.

    Tyler Durden
    Sun, 07/02/2023 – 17:30

  • USSC Chief Justice Roberts Slams 'Misleading' Liberal Justices Over 'Disturbing' Activist Opinions
    USSC Chief Justice Roberts Slams ‘Misleading’ Liberal Justices Over ‘Disturbing’ Activist Opinions

    Supreme Court Justice John Roberts took aim at his liberal colleagues last week, writing at the end of his majority opinion striking down Joe Biden’s student debt relief program; “It has become a disturbing feature of some recent opinions to criticize the decisions with which they disagree as going beyond the proper role of the judiciary.”

    The Court ruled last week along ideological lines that the Biden administration’s program was unconstitutional based on the administration’s justification. The law cited allows the Secretary of Education to “waive or modify any statutory or regulatory provision applicable to the student financial assistance programs,” which the state of Missouri opposed.

    “Today, we have concluded that an instrumentality created by Missouri, governed by Missouri, and answerable to Missouri is indeed part of Missouri; that the words ‘waive or modify’ do not mean ‘completely rewrite’; and that our precedent—old and new—requires that Congress speak clearly before a department secretary can unilaterally alter large sections of the American economy,” said Roberts, adding “We have employed the traditional tools of judicial decision-making in doing so.”

    In his majority opinion, Roberts, a George W. Bush appointee, slammed Justice Elena Kagan, an Obama appointee – who claimed that the majority was “distorting standing doctrine to create a case fit for judicial resolution,” because Missouri did not suffer harm by the student loan program.

    The statute, read as written, gives the Secretary broad authority to relieve a national emergency’s effect on borrowers’ ability to repay their student loans. The Secretary did no more than use that lawfully delegated authority. So the majority applies a rule specially crafted to kill significant regulatory action, by requiring Congress to delegate not just clearly but also micro-specifically,” wrote Kagan, adding “Congress in broadly authorizing loan relief, the Secretary and the President in using that authority to implement the forgiveness plan. The majority instead says that it is theirs to decide.”

    According to Roberts, “reasonable minds” may disagree with the majority, but that “It is important that the public not be misled either. Any such misperception would be harmful to this institution and our country.”

    This isn’t the first time the liberal minority has taken aim at the conservative majority. As the Epoch Times notes;

    Justice Sonia Sotomayor, for instance, dissented from the ruling striking down racially discriminatory admissions policies at U.S. universities by claiming that the court was “subvert[ing]” the protection from the Equal Protection Clause of the U.S. Constitution’s Fourteenth Amendment.

    “Because the Court’s opinion is not grounded in law or fact and contravenes the vision of equality embodied in the Fourteenth Amendment, I dissent,” Sotomayor, an Obama appointee, wrote.

    The majority had ruled that policies used by Harvard University and the University of North Carolina were unconstitutionally discriminatory. The schools themselves had admitted they discriminated against applicants who were not African American or Hispanic.

    In a concurring opinion, Justice Clarence Thomas, a George W. Bush appointee, said that American society has not been, and is not, colorblind but that the U.S. Constitution’s Fourteenth Amendment requires disregarding racial distinctions.

    Tyler Durden
    Sun, 07/02/2023 – 17:00

  • Seymour Hersh On Prigozhin's Folly: The Russian 'Revolt' That Wasn't Strengthens Putin's Hand
    Seymour Hersh On Prigozhin’s Folly: The Russian ‘Revolt’ That Wasn’t Strengthens Putin’s Hand

    Authored by Seymour Hersh via Substack,

    The Biden administration had a glorious few days last weekend. The ongoing disaster in Ukraine slipped from the headlines to be replaced by the “revolt,” as a New York Times headline put it, of Yevgeny Prigozhin, chief of the mercenary Wagner Group. 

    The focus slipped from Ukraine’s failing counter-offensive to Prigozhin’s threat to Putin’s control. As one headline in the Times put it, “Revolt Raises Searing Question: Could Putin Lose Power?” Washington Post columnist David Ignatius posed this assessment: “Putin looked into the abyss Saturday—and blinked.”

    Secretary of State Antony Blinken—the administration’s go-to wartime flack, who weeks ago spoke proudly of his commitment not to seek a ceasefire in Ukraine—appeared on CBS’s Face the Nation with his own version of reality: “Sixteen months ago, Russian forces were . . . thinking they would erase Ukraine from the map as an independent country,” Blinken said. “Now, over the weekend they’ve had to defend Moscow, Russia’s capital, against mercenaries of Putin’s own making. . . . It was a direct challenge to Putin’s authority. . . . It shows real cracks.” 

    Blinken, unchallenged by his interviewer, Margaret Brennan, as he knew he would not be—why else would he appear on the show?—went on to suggest that the defection of the crazed Wagner leader would be a boon for Ukraine’s forces, whose slaughter by Russian troops was ongoing as he spoke. “To the extent that it presents a real distraction for Putin, and for Russian authorities, that they have to look at—sort of mind their rear as they’re trying to deal with the counter offensive in Ukraine, I think that creates even greater openings for the Ukrainians to do well on the ground.” 

    At this point was Blinken speaking for Joe Biden? Are we to understand that this is what the man in charge believes?

    We now know that the chronically unstable Prigozhin’s revolt fizzled out within a day, as he fled to Belarus, with a no-prosecution guarantee, and his mercenary army was mingled into the Russian army. There was no march on Moscow, nor was there a significant threat to Putin’s rule.

    Pity the Washington columnists and national security correspondents who seem to rely heavily on official backgrounders with White House and State Department officials.

    Given the published results of such briefings, those officials seem unable to look at the reality of the past few weeks, or the total disaster that has befallen the Ukraine military’s counter-offensive.

    So, below is a look at what is really going that was provided to me by a knowledgeable source in the American intelligence community:

    “I thought I might clear some of the smoke. First and most importantly, Putin is now in a much stronger position. We realized as early as January of 2023 that a showdown between the generals, backed by Putin, and Prigo, backed by ultra-nationalist extremists, was inevitable. The age-old conflict between the ‘special’ war fighters and a large, slow, clumsy, unimaginative regular army. The army always wins because they own the peripheral assets that make victory, either offensive or defensive, possible. Most importantly, they control logistics. special forces see themselves as the premier offensive asset. When the overall strategy is offensive, big army tolerates their hubris and public chest thumping because SF are willing to take high risk and pay a high price. Successful offense requires a large expenditure of men and equipment. Successful defense, on the other hand, requires husbanding these assets.

    Wagner members were the spearhead of the original Russian Ukraine offensive. They were the ‘little green men’. When the offensive grew into an all-out attack by the regular army, Wagner continued to assist but reluctantly had to take a back seat in the period of instability and readjustment that followed. Prigo, no shy violet, took the initiative to grow his forces and stabilize his sector.

    The regular army welcomed the help. Prigo and Wagner, as is the wont of special forces, took the limelight and took the credit for stopping the hated Ukrainians. The press gobbled it up. Meanwhile, the big army and Putin slowly changed their strategy from offensive conquest of greater Ukraine to defense of what they already had. Prigo refused to accept the change and continued on the offensive against Bakhmut. Therein lies the rub. Rather than create a public crisis and court-martial the asshole [Prigozhin], Moscow simply withheld the resources and let Prigo use up his manpower and firepower reserves, dooming him to a stand-down. He is, after all, no matter how cunning financially, an ex-hot dog cart owner with no political or military accomplishments.

    What we never heard is three months ago Wagner was cycled out of the Bakhmut front and sent to an abandoned barracks north of Rostov-on-Don [in southern Russia] for demobilization. The heavy equipment was mostly redistributed, and the force was reduced to about 8,000, 2,000 of which left for Rostov escorted by local police.

    Putin fully backed the army who let Prigo make a fool of himself and now disappear into ignominy. All without raising a sweat militarily or causing Putin to face a political standoff with the fundamentalists, who were ardent Prigo admirers. Pretty shrewd.”

    There is an enormous gap between the way the professionals in the American intelligence community assess the situation and what the White House and the supine Washington press project to the public by uncritically reproducing the statements of Blinken and his hawkish cohorts.

    The current battlefield statistics that were shared with me suggest that the Biden administration’s overall foreign policy may be at risk in Ukraine. They also raise questions about the involvement of the NATO alliance, which has been providing the Ukrainian forces with training and weapons for the current lagging counter-offensive. I learned that in the first two weeks of the operation, the Ukraine military seized only 44 square miles of territory previously held by the Russian army, much of it open land. In contrast, Russia is now in control of 40,000 square miles of Ukrainian territory. I have been told that in the past ten days Ukrainian forces have not fought their way through the Russian defenses in any significant way. They have recovered only two more square miles of Russian-seized territory. At that pace, one informed official said, waggishly, it would take Zelensky’s military 117 years to rid the country. of Russian occupation.

    The Washington press in recent days seems to be slowly coming to grips with the enormity of the disaster, but there is no public evidence that President Biden and his senior aides in the White House and State Department aides understand the situation.

    Putin now has within his grasp total control, or close to it, of the four Ukrainian oblasts—Donetsk, Kherson, Lubansk, Zaporizhzhia—that he publicly annexed on September 30, 2022, seven months after he began the war. The next step, assuming there is no miracle on the battlefield, will be up to Putin. He could simply stop where he is, and see if the military reality will be accepted by the White House and whether a ceasefire will be sought, with formal end-of-war talks initiated. There will be a presidential election next April in Ukraine, and the Russian leader may stay put and wait for that—if it takes place. President Volodymyr Zelensky of Ukraine has said there will be no elections while the country is under martial law.

    Biden’s political problems, in terms of next year’s presidential election, are acute—and obvious. On June 20 the Washington Post published an article based on a Gallup poll under the headline “Biden Shouldn’t Be as Unpopular as Trump—but He Is.” The article accompanying the poll by Perry Bacon, Jr., said that Biden has “almost universal support within his own party, virtually none from the opposition party and terrible numbers among independents.” Biden, like previous Democratic presidents, Bacon wrote, struggles “to connect with younger and less engaged voters.” Bacon had nothing to say about Biden’s support for the Ukraine war because the poll apparently asked no questions about the administration’s foreign policy. 

    The looming disaster in Ukraine, and its political implications, should be a wake-up call for those Democratic members of Congress who support the president but disagree with his willingness to throw many billions of good money after bad in Ukraine in the hope of a miracle that will not arrive. Democratic support for the war is another example of the party’s growing disengagement from the working class. It’s their children who have been fighting the wars of the recent past and may be fighting in any future war. These voters have turned away in increasing numbers as the Democrats move closer to the intellectual and moneyed classes.

    If there is any doubt about the continuing seismic shift in current politics, I recommend a good dose of Thomas Frank, the acclaimed author of the 2004 best-seller What’s the Matter with Kansas? How Conservatives Won the Heart of America, a book that explained why the voters of that state turned away from the Democratic party and voted against their economic interests. Frank did it again in 2016 in his book Listen, Liberal: Or, Whatever Happened to the Party of the People? In an afterword to the paperback edition he depicted how Hillary Clinton and the Democratic Party repeated—make that amplified—the mistakes made in Kansas en route to losing a sure-thing election to Donald Trump.  

    It may be prudent for Joe Biden to talk straight about the war, and its various problems for America—and to explain why the estimated more than $150 billion that his administration has put up thus far turned out to be a very bad investment.

    Subscribe to Seymour Hersh’s Substack here…

    Tyler Durden
    Sun, 07/02/2023 – 16:30

  • US Cities Replacing Fireworks With Drones, Citing Sustainability Concerns
    US Cities Replacing Fireworks With Drones, Citing Sustainability Concerns

    This year a number of US cities are replacing traditional Fourth of July fireworks with drone shows citing fire danger and air quality concerns. 

    In California, firework shows in La Jolla and Ocean Beach will be replaced with high-tech drone light shows, according to NBC 7 San Diego

    Salt Lake City, Utah, is trying an alternative way of celebrating Independence Day with its first-ever drone show. The city’s mayor, Erin Mendenhall, cited the drones will mitigate fire risk.

    “As temperatures rise and fire danger increases, we must be conscientious of both our air quality and the potential for wildfires,” Mayor Mendenhall wrote in a press release. 

    In neighboring Colorado, the City of Boulder has also decided to try drones this year instead of fireworks. 

    “The shift from traditional fireworks to drones was not an easy decision and based on a number of factors, including increased fire danger fueled by climate change,” the City of Boulder wrote on Facebook. 

    More and more metro areas are going with drone shows rather than fireworks due to sustainability reasons. 

    As for Americans having backyard BBQ parties, they’re not giving up their roman candles, mortars, firecrackers, and bottle rockets anytime soon. Americans spent $370 million on pyrotechnics from China in 2020. 

    Meanwhile… 

    … and then there’s this. 

    While metro areas are switching to drone shows, red-blooded Americans will never give up bottle rockets and mortars. They’re just too much damn fun until someone blows off a finger. 

    Tyler Durden
    Sun, 07/02/2023 – 16:00

  • No, Joe, There Is No Such Thing As A "Fair Share" Of Taxes
    No, Joe, There Is No Such Thing As A “Fair Share” Of Taxes

    Authored by Brian Balfour via The American Institute for Economic Research,

    President Joe Biden recently trotted out the well-worn progressive complaint about the rich not paying their “fair share” of taxes.

    “It’s about time the super wealthy start paying their fair share,” Biden said on June 18 to a crowd in Pennsylvania.

    Claiming that billionaires “paid a lower rate than schoolteachers, than firefighters, probably anyone in this room,” Biden insisted the rich should “(J)ust pay your fair share, man.”

    Missing from such conversations is just what exactly one’s “fair share” of taxes is, and how that is determined to be fair. That’s because the notion of any objective measure of taxes as being a “fair share” is a complete illusion.

    Taxes are what citizens are compelled to pay in exchange for government services, like criminal justice, national defense, healthcare, education, and not to mention pork projects, war, and corporate welfare. Given this exchange of money for goods and services, one could plausibly compare the notion of a “fair share” of taxes to that of a “fair” or “just” price of commodities. 

    As Murray Rothbard points out in Power and Market: Government and the Economy, the notion of a “just price” was debated by ethicists and scholars for hundreds of years. Indeed, the history of this debate can be traced back to Aristotle, who described a “just exchange” as the trading of goods of like value while deeming as immoral the exploiting of arbitrage opportunities for profit. Thomas Aquinas, in the 13th Century, held a similar view, while allowing for profit from selling an item for more than you acquired it.

    The Spanish Scholastics of the 16th and 17th centuries introduced to the debate the concept of subjective value, suggesting that the just price was in accordance with the valuation of the prospective buyer, in contrast to any objective value inherent within the good itself. This notion of subjective value largely carried into the present day. Because no such quantitative, universal measure of a just price could be agreed upon, “the only possible objective criterion for the just price is the market price” voluntarily agreed to by buyer and seller, according to Rothbard.

    In other words, ethicists and economists for centuries grappled with the concept of a “fair price” for a good or service. Finally, a consensus was reached that the only fair price is one mutually and voluntarily agreed upon by seller and buyer.

    When it comes to taxes, however, voluntary agreement is removed.

    Government imposes its arbitrarily chosen tax rates by threat of force. Because mutual consent is removed from the transaction, there can be no such thing as a “fair share” of taxes.

    Tax rates are largely politically motivated and arbitrarily chosen, and stacked with exemptions and penalties to help incentivize behaviors favored by the politicians writing the voluminous tax code. Regardless of the rates, there is no “fairness” to be achieved.

    Some may argue that a “fair” tax share for various income groups should be proportional to the share of income earned for those groups. According to the Tax Foundation, however, the top one percent of income earners paid 42.3 percent of federal income taxes while earning 22 percent of the nation’s income.  The top ten percent earned 49.5 percent of total income while paying nearly 74 percent of all income taxes.

    The average effective income tax rate for the top ten percent was 20.3 percent, more than six times the 3.1 percent rate paid by the bottom 50 percent. 

    By this measure, many could argue that the rich are paying well above their “fair share,” which is why this measure is never mentioned when Biden and company are asked to specify what a “fair share” would be.

    Complicating the concept of a “fair share” of taxes further still, to the extent the discussion is on income taxes, is that one’s income in any given year may not neatly categorize someone as “rich” or not.

    A person’s income represents merely a snapshot in time. Of course, people move about income levels over the course of their lives. Today’s “low-income” individual may be a recent college graduate from an upper middle-class family merely working an entry-level job on her way to a lucrative career. 

    Conversely, this year’s “high-income” earner may be a small business owner who struggled for decades and finally had a successful year, but still remains deep in debt. This snapshot report in no way tells us anything about the financial well-being over the lifetimes of the people being judged as rich or not. In short, simple “income” statistics often provide a misleading snapshot of citizens’ financial well-being, and therefore of how taxes really affect them.

    It’s not quite so easy to look at a person’s W-2 in a given year and determine if he is “rich” and therefore must be compelled to pay a “fair share.” 

    Moreover, taxes are the lifeblood of the political class.

    The more taxes they extract from citizens, the greater power they hold over society and its scarce resources.

    More taxes means more political favors to be doled out, voting blocs to be rewarded, and patronage networks to pay off. 

    The discussion of the non-existent concept of a “fair share” of taxes should be dropped immediately and exposed for what it is: an arbitrary and artificial notion used to disguise political power grabs.

    Tyler Durden
    Sun, 07/02/2023 – 15:30

  • Zelensky Implores Military To "Show Results" Before NATO Summit Amid Waning Enthusiasm In West
    Zelensky Implores Military To “Show Results” Before NATO Summit Amid Waning Enthusiasm In West

    In a rare public sign of desperation, Ukraine’s President Vladimir Zelensky is pleading for his military to “show results” ahead of the major NATO summit to be convened in Lithuania on July 11. This comes amid rumblings out of Washington that US arms to Kiev could slow or be cut if Ukrainian forces are incapable of advancing. 

    Over the weekend Zelensky spoke to several journalists and addressed the past several days of headlines out of the West which have suggested the counteroffensive could be failing. He explained that “torrential rains” had “slowed down some processes quite a bit” – but that the reality still is that “every kilometer” of liberated territory and gains “costs lives”.

    Image: Ukrainian Presidential Press Service

    He urged more Western weapons while blaming that gains from last fall had been lost in part because of the late arrival of artillery. His top generals have also been complaining about lack of air superiority, while continuing to press for F-16 fighter jets.

    “We stopped because we couldn’t advance. Advancing meant losing people and we had no artillery,” he asserted in the press briefing. “We are very cautious in this aspect. Fast things are not always safe.”

    He then emphasized that he has a duty to his troops and to not take risks that are unnecessary: “If they tell me that two months will pass and thousands of people will die, or three months and fewer people will die, of course, I will choose the latter,” Zelensky said. “Between time and people, the most important thing is people.”

    Related to the pressing urgency of more and continued Western military support, Zelensky specifically called out Republicans in US Congress. Again this comes against the backdrop of Kiev’s concerns over waning enthusiasm for the war effort out of Washington and the West at a sensitive moment of NATO’s annual summit.

    He slammed the “dangerous messages coming from some Republicans” – but praised the Thursday visit of former Vice President Mike Pence. 

    “Mike Pence has visited us, and he supports Ukraine. First of all, as an American, and then as a Republican,” Zelensky said. “We have bipartisan support. However, there are different messages in their circles regarding support for Ukraine. There are messages coming from some Republicans, sometimes dangerous messages, that there may be less support.”

    He stressed that maintaining bipartisan support is “the most important thing for Ukraine” regardless of who wins the 2024 US presidential election. He also at one point said, “NATO without Ukraine is not NATO.” The UK has meanwhile remained the most outspoken advocate of Kiev’s entry into NATO, while Germany and the US have voiced caution and reluctance on the question of eventual full membership. 

    With the NATO summit now less than ten days away, the race is on for Ukraine’s forces to “show results”.

    Tyler Durden
    Sun, 07/02/2023 – 15:00

  • Musk's Tweet-Limiting Move Is To Prevent The Completion Of The "AI-Censorship-Death-Star"
    Musk’s Tweet-Limiting Move Is To Prevent The Completion Of The “AI-Censorship-Death-Star”

    Unless you’ve been hiding under a rock this weekend, you will know that Twitter CEO Elon Musk said Saturday that the social media platform will limit how many tweets users can read due to “extreme” levels of system manipulation and data scraping.

    Musk said in a statement that Twitter has applied the following temporary limits on users, with new unverified accounts limited to reading just 600 posts per day.

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

    Claiming the sudden change is being implemented to combat “extreme levels of data scraping and system manipulation,” Musk said the daily restrictions would eventually be raised to 8,000 posts for verified users, 800 for unverified accounts, and 400 for new unverified users.

    Immediately, the socials came alive with claims of ‘free speech’ suppression etc…

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

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

    But the irony went to ’11’…

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

    So they want ‘more’ twitter not less? But we thought it was a cesspool of nazi porn?

    Musk said at the time that hundreds of organizations or more were scraping Twitter data “extremely aggressively,” with a negative impact on user experience.

    However, there may be more to this than ‘user experience’ deterioration, or an effort by Musk force more monetization.

    Musk hinted at the ‘other’ reason in April, when he threatened to sue Microsoft, which has invested billions into OpenAI, after accusing the company of using Twitter data for training.

    “They trained illegally using Twitter data. Lawsuit time,” Musk wrote on Twitter on April 19.

    Which brings us to Mike Benz’s excellent discussion this morning of what may really be going on behind the scenes, that yet again – the world’s richest man could be the only one uncancellable enough to battle.

    Benz begins his trek with the statement: “AI censorship is where all of the magic happens.”

    He points out, the Twitter Files showed how The FBI might come in and get 22 tweets censored, but AI is how IEP (and other 3rd-party censorship groups) were able to get 22 million tweets censored.”

    Before 2016, Benz explains, you could not ‘control’ the internet; but since then, there has been an “AI Censorship Deathstar” under construction, which “relies on massive scraping of Twitter data to track trending narratives, to systemically surveil, to build intelligence dossiers, and to track and turn down – all at one – communities online.”

    Twitter is the best social network of all for this massive data scraping (and training) since all consumers of information are also creators.

    This explicitly makes scraping data there far more important for early narrative detection and countering ‘wrongthink’ via fact-checking, Google Ad suppression, political pressure (possibly enforcing hate speech laws like Michigan just passed), or mainstream media propaganda focus.

    Also, on the other side, while Musk appears to have got the ‘Trust & Safety’ censors/bannner/throttlers out of the loop, this massive data scrape allows any establishment-favored narratives to be amplified.

    And it appears to be working as ChatGPT admitted it was unable to access real-time tweets this morning…

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

    Which apparently pleased Musk

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

    So – is this just another money-making scheme for Twitter; or is Musk really the world’s last best hope for ‘freedom’ of speech.

    “You are going to see the censorship industry howl over this,” Benz concludes, and “whether Musk knows it or not, he has stepped on a rattlesnake.”

    While the censorship-industry will “in a wierd way, while the boot [of Musk’s tweet-read-limit] may be cutting off some amount of openness of Twitter, it may also represent in some way, the boot of freedom.”

    Watch the full Benz clip below:

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

    Finally, one wonders did Musk’s move just nuke the AI-stock-boom’s 100x forward-revenue-multiple case?

    Tyler Durden
    Sun, 07/02/2023 – 14:00

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Today’s News 2nd July 2023

  • Righting This Cacophony Of Wrongs
    Righting This Cacophony Of Wrongs

    Authored by Mike ‘Dr.Doom’ 𝙃𝙤₿𝙖𝙧𝙩 via BombThrower.com,

    I hope everyone has had the time to properly appreciate their first days of summer. If you did not, then I hope your efforts have gotten you closer to being capable of doing so soon.

    Today’s writing is inspired by my many conversations over the current state of our United States of America, and how far we have fallen from the Tree of Freedom that our Honored Fallen sacrificed their lives for. How Americans have lost sight of what truly matters, and how our uneducated & unfit masses continue to make decisions that enable their complacencies over doing what needs to be done in order to save the future of our country, for ourselves and for our children…

    Failure Teaches. Victory Confirms.

    Taking the path of immediate gratification, and especially selling-out the futures of our children, alongside the soul of our proud nation, is inextricably not American. Providing products of shite quality is inextricably not American. Choosing to do the easy thing over that which is more difficult, and that which is right, is inextricably not American. Sacrificing our own steadfastness, our own resilience, and going back on our promises and debts is not American.

    Simple vs Easy

    The steps required for correcting this egregious path are simple but they are not easy. This brings us to the first true step (Step 0.1) towards course-correction, of any kind. Conflation of something so basic as simple & easy is a problem that we as Americans must identify, acknowledge, and work to correct. A task can be simple; “do [x] in order to get [y] outcome,” but that does not mean that the task will be easy; “man doing [x] required so little effort to so I could get [y].”

    Ignorance of Failure

    Admitting that we have gone awry is the other 90% of Step 1, that we have made a series of mistakes and poor decisions is necessary. Because it is okay. It is okay to make mistakes, to be wrong. It is not okay to make mistakes, to be wrong, and not own-up to them. Not accepting that we have made wrong/bad decisions is extremely dangerous as there is no learning or growth that is allowed to occur when we choose to ignore our failures. Failure teaches. Victory confirms.

    The Average American is the one who holds the power in the coming years — as this is a situation that will take years to correct and get back on “the path.” I have a few simple suggestions for the everyday American to follow if you would like to be on the right side of history.

    First

    GET OFF YOUR LAZY ASS

    America is not well. Between those already diagnosed with diabetes, and those that are prediabetic we are looking at 49% of the Us adult population being affected, alone. According to data from 2017 (which is 6 years old mind you) the US population was looking at an obesity rate of 42%. Keep in mind that this does not include the concoction of chronic metabolic syndromes and diseases that accompany obesity; heart disease, hypertension, cardiovascular disease, atherosclerosis, osteoporosis, neurodegenerative conditions, cancers, and so on.

    Americans need to get up off the couch and out of their desk chairs and push, pull, and breathe their way into individual fortitude. If the worst of the worst were to happen today, the amount of human life that would be lost simply due to intermittent access to power, let alone food, would be daunting and egregious. Through complacencies afforded the modern era we have become more fragile than ever in history. Yet we have access to the best technologies, methodologies, sciences, and access to more food and information than in any other prior empire in the history of our planet.

    As Americans it is our duty and our privilege to become the baddest motherf*ckers that we can become. We are in the Land of the Free. Where you can be free to be a fat, lazy, complacent pile of shit all you want. I don’t know about you… but me, I want to be the most fit, well-rounded, capable, educated, understanding individual that I can be because I am free to do so. Because when shit-hits-fan, which is a virtual certainty (on any scale), I want to be capable of providing the strength and clear-headedness to be capable of providing protection and support to those I care about. Being comfortable means f^ck-all when life deals you a powdered backhand and you are not capable of being an effective force in times of adversity or fear — regardless of whether you are a man or a woman.

    If you are not capable to react to the plethora of known knowns as far as potential negative outcomes, then you cannot even hope to be capable of handling those unknown unknowns. Of which are infinite. Fitness and sound health makes the individual far more capable of handling adversity, and during moments of historical shifts in the balance of power adversity is commonplace. Fill the gyms and run the trails, become the embodiment of strength that your neighbors, loved ones, and peers need.

    Second

    GET ack-tually EDUCATED

    America today has been taught to demonize coming incorrect, and pedestalize being correct. To the extent of where people are attributing their being correct as a part of their identity. This poses a slew of problems for a society as the search for what is true and what is right gets lost. As the discussion [inevitably] turns towards pushback, these individuals tend to fall into defensive mode. In these moments their identity comes into question as a relation to their correctness, like when Anthony Fauci made the claim that to question him was to question science. Science, as is every other aspect of knowing & understanding, is and should always be under question. We do not know everything. In fact, we actually know very little about quite literally everything that we observe in our reality to-date. Therefore an individual’s identity should never be tied to their tendency to be accurate or correct in matters of fact; when we know so little, we are all guaranteed to be wrong much more often than we are right.

    The American Education System has played a pivotal role in this degeneration of our countrymen’s and countrywomen’s capabilities to practice critical-thinking and original thought. Robert A. Burton, M.D., does a great job of crystalizing my point in his book On Being Certain in one very succinct sentence towards the end of Chapter 8 found on page 84;

    “Memorizing facts doesn’t require logic, cause-and-effect, or any significant ability to reason.”

    which is precisely what our entire “educative system” is structured around. Memorization. The antithesis to learning.

    American schools have failed, abysmally. There is no such thing as a template for learning. Every single soul will learn differently from another. Just like with nutrition and physiology; every single body is different, so why is it that we think that the mind could operate by any other rule? This is also what has contributed to the mislabeling of a large portion of the “mental disorders” today. In a recent essay I argued my position for believing that conditions such as ADD/ADHD, anxiety, and depression are, for the vast majority, not diseases but misidentified signals by the body & mind. Leading to responses to treat the symptoms rather than address the sources of the signal(s). Culminating in continued dysfunction that grows in severity the longer the dysfunction goes unanswered. The dysfunction of the education (indoctrination) system is contributing to the misinterpretation of these states of mind, while also leading to a misidentification of the solutions due to the erosion of logic, cause-and-effect analysis, and erosion of the ability to reason.

    So, American schools have not been teaching our children how to learn… what about what they have been memorizing?

    This is where things get fun and a little scary at the same time. The textbooks and curriculums pushed in front of us through our scholastic syllabi (and those of our children) are poised to be treasure-troves of truth… but are they, truly? Below I have provided 2 videos that I have been recommending to now thousands of individuals across the twitter spaces & podcasts I have been graciously invited to be a part of, and in private individual discussions over the past 3 years. The perspectives are daunting, that there could be so much to history that got brushed under the metaphorical rug, forgotten about, and then pretended like was never the case.

    I call on all of you to make it a point to watch these videos. Go in with a position that you (and I) do not know every individual thing that has transpired across history that was covered in our textbooks. And consider how then (as now) there were many multiples of developments and strategies all playing-out simultaneously. With little-to-no awareness that they were occurring. Events that have transpired over the past 36 months should serve as adequate testimony to this very reality.

    That’s It.

    Between just these two points, we can see dramatic changes in America’s populace for the better. These changes can begin to bare fruit in a mere handful of years… Consider how much smoother healthcare can become when the system is alleviated of the deadweight of a complacent and unhealthy populace. Consider how much more effective teaching and lecture can become when we have a populace that is critically thinking and capable of effectively challenging anything and everything with logical and rational bases. This is how we improve… EVERYTHING. You want better innovation, better ideas, better leaders, better policies, better technology? We need new, original ideas that can only come from strong & healthy children raised on logic and reason.

    A Bitcoin Discussion

    With this rebel’s education approach we have to talk about two aspects that are touched on in both videos. Keep in mind that both were produced very much independently of each other, yet share a common thread: private & central bankers have continually acted against the best interests of their constituents in order to maintain their grips on power. From breaking away from the rule of a queen over taxes to only end up copying the precisely same system once independence was achieved… to funding both sides of a world war… something has to change. That’s not even including the capability to print currency (not money, there’s a difference) on a whim or a desire. Providing a vertically-integrated system of power that provides influence beyond that of any single individual or organization when these systems are also based out of the jurisdiction that holds the position of Global Reserve Currency.

    This is a power dynamic that must be disrupted. In my opinion it does not need to be totally done away with as there will always be a percentage of the population that desires the services provided by banks. The point is to particularly disrupt the vertically integrated stack that these parties have developed. This is where bitcoin plays an important role, and where I am proud to shamelessly plug my efforts in working with a few passionate individuals to put together a call to separate money from the state. One can argue as much as they want that the state is separated from the process of money formation & banking, on paper, but when we are dealing with human incentives and human policy that is all at the whim of human influence via politics… all roads converge on the two becoming inextricably linked. Creating a true monster. One could say a “creature from Jekyll Island.”

    Going further, bitcoin provides an avenue of game theory (hat tip to John Nash) that provides an incentive mechanism that is far and beyond anything that is available thanks to any other technology to-date. With properly custodied bitcoin, the individual, organization, or country is afforded a strategy that has never been available in history, ‘til now. With bitcoin a party is capable of holding value that can ultimately avoid seizure even after death. Meaning that vaults can escape plunder, and something as ludicrous as a death tax becomes a distant memory. Resulting in an environment where, in order to accumulate economic/monetary value, one must provide product or service that is worthy of said value being directed towards their project. If the market does not deem the product to be worthy of their economic power, then there is no other way of accumulating it. Incentivizing cooperation, innovation, and efficiency… a polar opposite incentive mechanism than today where computers and textbooks make marginal improvements (if any) and selling of a “new” flashy product at the expense of the consumer.

    As society progresses, new approaches to old problems are behooved. Money & currency is a problem as old as time that has been iterated on to further improve the cooperation and cohabitation of the human species. To think that we are beyond this natural need is a hubris of the utmost.

    Personally, I Don’t Care…

    I don’t care whether you are interested in the bitcoin mission. Your money is your power and your responsibility. Everyone has the freedom and the right to do what they desire, or deem proper, for their accumulated wealth and purchasing power. But what I do care about is strong, healthy, and capable Americans and American children.

    At the very least… if you are a parent you are behooved to provide your child(ren) a proper role model. A strong mother and father that continually work to improve the condition of their family leaves a healthy mark on their offspring regardless of whether they believe their children are watching intently or not. Parents that continually seek improved understanding teaches multiple lessons to their little ones, paramountly that education never stops. Parents that deploy this kind of hustle (if we’re being fair, this isn’t even hustle this is simply staying an efficacious human), not only improve America’s future by rearing up strong & intelligent children but also make for a healthier, stronger, better informed voting populous. Our parents simply need to stop engaging in degenerative behaviors like binge-consuming the plethora of non-informative streaming services, and get back to education being the past-time. Like the days of olde of the cable era with such heavyweights as Animal Planet, the Discovery Channel, and the History Channel — oh how I long for those days to return.

    Those of us that are not parents, we hold the very same responsibilities. As uncles & aunts, cousins, brothers & sisters, sons & daughters, and family friends; we hold powerful influence. We can act as a confirming force for what those hustler parents are doing is the proper thing. We can act as a challenge to those parents that choose not to better themselves, showing those children that there are better ways of getting the damn thing done. Children are not dumb.

    We all have power to influence; residing in the decisions we make on a daily basis and the lifestyles we choose to adopt. You don’t need to be an influencer with a 5 digit follower count in order to leave a strong, positive mark on those around you.

    You may feel stuck. Know that your improved future stands on the other side of your improved health & wellness, and your improved understanding of the world. Your own path out of your rut will become easier to see once you climb that first hill.

    Tyler Durden
    Sat, 07/01/2023 – 23:30

  • Who Is North Korea Trading With?
    Who Is North Korea Trading With?

    North Korea might be the hermit kingdom, but data from the UN Comtrade database reveals that goods worth a combined $1 billion were still traded in and out of the reclusive country in 2022.

    However, as Statista’s Katharina Buchholz details below, this is much less than five years ago, however, posing serious challenges for North Korea and its citizens, which have been exposed to hunger, as recent reports have found.

    According to reports from Reuters, imports from China to North Korea have surged in April after also increasing in 2022 due to the end of a Covid-induced trade freeze. However, both imports and exports to the country have fallen sharply over the years – a trend that started even before the pandemic. Exports were down from US$2.8 billion in 2015 to only US$1.7 billion in 2017 and even further to just $192 million in 2022, with imports also falling significantly from US$3.5 billion worth of goods in 2015 to only $903 million in 2022.

    International pressure to stick to the sanctions against the country before the pandemic had isolated North Korea further, with China consolidating its role as the country’s only real trade partner.

    In 2015, Chinese imports made up was 85 percent of all North Korean imports – the share now stands at 99 percent as the pandemic era has sealed the country off against the world more than ever before.

    China is also the biggest player in North Korean exports with a share of almost 70 percent in them.

    Infographic: Who Is North Korea Trading With? | Statista

    You will find more infographics at Statista

    A handful of European countries are also buying North Korean, however.

    Poland imported iron, steel and plastic products as well as pharmaceutical products, electrical and other machinery worth almost $10 million last year.

    Half of the Netherlands’ imports worth around $8 million in total consisted of nickel and nickel products, with some substantial amounts of polyethylene and airplane parts also imported.

    Both European countries have maintained diplomatic relations in some form with North Korea and their trade with the country can be classified as symbolic. However, it is a different type of import that has been labeled as problematic in Europe. The Dutch University of Leiden in 2019 identified clothing made in North Korea under exploitative labor conditions that had made its way to the Netherlands and other Western countries labeled as of Chinese origin. While Mozambique’s 2022 imports of North Korean transformers and other machinery were likely above board, the country was investigated in 2017 for its arms deals with the country that violated UN sanctions.

    At least seven countries in Africa were part of the investigation. Regular economic ties with North Korea, which are not the subject of sanctions, were increasing in African countries at the same timeaccording to the Voice of America.

    Tyler Durden
    Sat, 07/01/2023 – 23:00

  • Putin's Grip On Power
    Putin's Grip On Power

    Authored by Andrew Korybko via The Automatic Earth blog,

    It was earlier advised to “Be Very Skeptical Of US Intel Claiming That Surovikin May Have Helped Plan Prigozhin’s Coup”, and now two new developments lend even more credence to those suspicions.

    The “investigative project” of exiled oligarch Mikhail Khodorkovsky, who was designated by Russia as a foreign agent last year due to his operations being funded by Ukraine, shared “documents” with CNN purporting to show that over 30 senior military and intelligence officials are secretly VIP Wagner members.

    The outlet reported on these alleged findings around the same time that they published former Vice President Mike Pence’s answer to the question that one of their journalists asked him during his unannounced visit to Kiev regarding his opinion of whether or not President Putin has full command of his military. He claimed that this is an “open question” in light of Wagner chief Yevgeny Prigozhin’s failed coup attempt last weekend, thus suggesting that Russian leader is struggling to exert his authority.

    These two back-to-back news items were intended to leave their audience with the impression that the President Putin remains at risk of being overthrown by his armed forces, which is nothing but an artificially manufactured information warfare narrative designed to sow doubts about his leadership.

    It simultaneously attempts to influence him and his circle into carrying out large-scale purges that could adversely affect the special operation while also making the public think that he’s weak if he doesn’t.

    The New York Times earlier admitted that “American officials have an interest in pushing out information that undermines the standing of General Surovikin, whom they view as more competent and more ruthless than other members of the command. His removal would undoubtedly benefit Ukraine, whose Western-backed troops are pushing a new counteroffensive that is meant to try to win back territory seized by Moscow.” It’s with this motivation in mind that the latest reports should be interpreted.

    No honest observer on either side of the debate really thinks that an exiled Ukrainian-funded oligarch and one of the US’ previously most powerful neoconservatives have President Putin’s best interests in mind when suggesting that he’s at risk of being overthrown if he doesn’t purge the Russian military. To the contrary, the only reason why these insincerely expressed concerns were publicly shared and then amplified by one of the world’s top Mainstream Media (MSM) outlets was for subversive purposes.

    What’s curious to note is that the MSM and their putative competitors in the Alt-Media Community (AMC) are each aggressively pushing weaponized conspiracy theories to their respective audiences in the aftermath of recent events. The first wants folks to think that last weekend’s regime change plot involved high-level military-intelligence collaborators who might soon give it a second shot out of desperation to preempt their supposedly impending purge if President Putin doesn’t remove them first.

    At the same time, top influencers in the second have suggested that President Putin colluded with Prigozhin to stage a so-called “false flag coup” to redeploy Wagner to Belarus and/or expose internal enemies, thus implying that he ordered that group’s chief to shoot down Russian pilots. It’s unclear whether those who propagate this totally ridiculous theory actually believe it, but this baseless innuendo is nevertheless anti-Russian to the core by hinting that its leader therefore committed treason too.

    The reality is that Western intelligence agencies masterfully manipulated Prigozhin’s rivalry with the Defense Ministry, the paranoia that this provoked, and his delusions of grandeur after Wagner led Russia to victory in the Battle of Artyomovsk to plant the seeds in his mind for carrying out a coup.

    He therefore functioned as the West’s most potentially destabilizing “useful idiot” in history who risked sparking a civil war that was only narrowly averted at the last minute as was explained here and here.

    While it’s possible that senior military-intelligence officials are VIP Wagner members, that can’t be known for sure until the FSB’s investigation concludes, which might even determine that there’s truth to this claim whether in whole or in part but that it isn’t evidence of a deeper and more serious plot. In any case, the speculation of those Ukrainian-backed and US figures like Khodorkovsky and Pence respectively should be seen as meddling since they don’t have innocent intentions in talking about this.

    They only want to manipulate the public’s perceptions of President Putin and the state of affairs in Russia, which their MSM allies like CNN are helping them do by maximally amplifying their messages. Likewise, those in the AMC who spew anti-Russian conspiracy theories about Prigozhin’s failed coup attempt such as suggesting that President Putin was in on it and thus colluded to have his own country’s pilots shot down by Wagner are also scheming to manipulate the public, albeit a different segment.

    Taken together, they represent complementary efforts of the same destabilization operation that’s actively underway in the aftermath of last weekend’s events, which aims to manipulate perceptions among the MSM’s and AMC’s audiences alike about what recently took place. These weaponized conspiracy theories are being deployed to discredit President Putin, his government, and the Russian security services in the minds of their targets, and those who launder them are these three’s enemies.

    *  *  *

    Support the Automatic Earth via Patreon.

    Tyler Durden
    Sat, 07/01/2023 – 22:30

  • How Big Is The Market For Crude Oil?
    How Big Is The Market For Crude Oil?

    While the global economy relies on many commodities, none come close to the massive scale of the crude oil market.

    Besides being the primary energy source for transportation, oil is a key raw material for numerous other industries like plastics, fertilizers, cosmetics, and medicine. As a result, the global physical oil market is astronomical in size and has a significant economic and geopolitical influence, with a few countries dominating global oil production.

    In the infographic below, Visual Capitalists’ Govind Bhutada and Sam Parker put crude oil’s market size into perspective by comparing it to the 10 largest metal markets combined. To calculate market sizes, we used the latest price multiplied by global production in 2022, based on data from TradingEconomics and the United States Geological Survey (USGS).

    Note: This analysis focuses on raw and physical materials, excluding derivative markets and alloy materials like steel.

    How Big Is the Oil Market?

    In 2022, the world produced an average of 80.75 million barrels of oil per day (including condensates). That puts annual crude oil production at around 29.5 billion barrels, with the market size exceeding $2 trillion at current prices.

    That figure dwarfs the combined size of the 10 largest metal markets:

    Based on prices as of June 7, 2023.

    The combined market size of the top 10 metal markets amounts to $967 billion, less than half that of the oil market. In fact, even if we added all the remaining smaller raw metal markets, the oil market would still be far bigger.

    This also reflects the massive scale of global oil consumption annually, with the resource having a ubiquitous presence in our daily lives.

    The Big Picture

    While the oil market towers over metal markets, it’s important to recognize that this doesn’t downplay the importance of these commodities.

    Metals form a critical building block of the global economy, playing a key role in infrastructure, energy technologies, and more. Meanwhile, precious metals like gold and silver serve as important stores of value.

    As the world shifts towards a more sustainable future and away from fossil fuels, it’ll be interesting to see how the markets for oil and other commodities evolve.

    Tyler Durden
    Sat, 07/01/2023 – 22:00

  • Neurologist’s Near-Death Experience Changes His Understanding Of Consciousness
    Neurologist’s Near-Death Experience Changes His Understanding Of Consciousness

    Authored by Maria Han via The Epoch Times (emphasis ours),

    Neuropathologist Dr. Peter Cummings was convinced everything about consciousness, including profound near-death experiences (NDEs), could be explained by science and was rooted in the brain—until he had an NDE of his own.

    Cummings was a career-oriented man who was doing well in his job as a doctor and as an assistant professor at Boston University School of Medicine Dept of Anatomy and Neurobiology.

    “At the time [it] was really enjoyable to live for that kind of stuff in that world,” said Cummings in a video posted on the International Association for Near-Death Studies.

    A trip to Costa Rica for his wife’s 50th birthday changed his outlook completely. While there, he decided to go whitewater rafting with his wife and son.

    Cummings was always afraid of the water, though not sure why. He often practiced holding his breath because he felt that one day it would come in handy.

    “I used to get really bored in school and one of the things I would do is I would hold my breath. See how long I could hold my breath and then try to beat that record. And I always thought someday I’m going to need this,” recalled Cummings.

    “I always found excuses to not be in the water, because I just always felt like I was going to drown,” said Cummings.

    He came close that day in Costa Rica when the raft he and his family were in flipped. He bounced along in the water for a while, until he was pulled under by the current.

    There was a point where I was drowning. And I knew it,” said Cummings.

    He was surprised at how calm he felt in the face of death.

    “I thought about the autopsies I’d done on people who had drowned. This is supposed to be a very peaceful way to die. And then I’m thinking well, ‘What the heck is taking so long?’”

    At the bottom of the river, Cummings experienced something neuroscience probably would have called a hallucination.

    At that point, everything stopped and I was next to this huge boulder and all the bubbles had stopped. And I moved my hand through the bubbles and they all just sort of moved around my hand in this very weird way. And then there was this bright light,” he said.

    Then he felt “an incredible feeling of love.” He heard a voice speak to him.

    “I got really emotional not because it’s upsetting but because I’m in that moment of that beauty. And I knew my family was going to be okay. And the voice said “they don’t need you, they’re going to be fine,’” he recalled.

    Somehow, he also knew that his wife and son had already been pulled out of the water. They really were alright.

    Then his science brain entered the conversation.

    You’re just hypoxic. Hold your breath. You have to beat your record. And at that point, the light just sort of vanished,” he said.

    Cummings was pulled out of the water and slowly he told himself to relax so that he could regain his breath. That night at their hotel, Cummings, who has always been vigilant of his heart rate, checked his Apple watch and found that while underwater, his heart had stopped.

    “I remember looking at my Apple watch because I’m kind of a health freak and I’m kind of obsessed with my heart rate. I looked at my Apple Watch and I had eight minutes of unrecorded heart rate in that time period,” said Cummings.

    Electronic devices are not 100 percent accurate and they record heartbeats at intervals, but Cummings believes that in those eight minutes, there was a period when he had no heartbeat.

    After the near-death experience, Cummings found that his intensive academic life was not what he wanted anymore.

    “I became very uncomfortable with my career pursuit. Those things weren’t important to me anymore. I say I’ve written a couple of very bad novels. And I couldn’t identify with that any of those things,” said Cummings.

    Sensing that he wasn’t suited for his life in Boston anymore, he and his family moved back to Maine, where he grew up.

    The experience turned Cummings into a more thoughtful doctor. As a pathologist, he spoke to many family members of the deceased.

    The number one question I’ve always been asked is ‘Did they suffer?’ And as a physician, you always say ‘No, of course not.’ But I always felt like a liar. Because I don’t know,” said Cummings.

    And after his near-death experience, he knew what it was like to die.

    “I wish I could talk to those people again and say, look, this is beautiful. Even under these horrible circumstances, but horrible circumstance is a second. The process after that is incredible. And there’s nothing to worry about,” shared Cummings.

    In medicine, death is the end. But Cummings now felt that death was not something to avoid talking about.

    “We’ve made it so sterile and kept behind this curtain. That we don’t get a chance to really experience and celebrate the transformation that is happening,” he said.

    After the incident, Cummings shared that it not only changed his perspective on his job, it “really helped me come to grips with who I am as a husband and a father, a human place on the planet.”

    Cummings’ change after his near-death experience is not a solitary one.

    Dr. Bruce Greyson has done extensive research on near-death experiences (NDEs) and his observations told him that these experiences often change the person who changed them for the better.

    “Dr. Greyson has followed up on cases over the course of decades and found that in about 95 percent of the cases, it remains as though the NDE just happened,” Mr. Greyson told The Epoch Times in 2015.

    “In one case, a man was an alcoholic and he was abusive toward his wife. After an NDE, he became an all-around good Samaritan. He didn’t drink, he was good to his wife, he helped others. For example, he rushed to New Orleans to join efforts following Hurricane Katrina,” described Dr. Greyson.

    Tyler Durden
    Sat, 07/01/2023 – 21:30

  • Are UFO Sightings Taking Off Again?
    Are UFO Sightings Taking Off Again?

    Tomorrow, July 2, marks World UFO Day.

    UFO belief has long been considered a fringe phenomenon, but those who “want to believe” were given a boost in 2021 as U.S. intelligence services delivered an official report on “unidentified aerial phenomena” to Congress.

    As Statista’s Katharina Buchholz reports, it showed that of all 143 unexplained sightings between November 2004 and March 2021, only one UAP was later identified as a deflating balloon. In early 2023, another unclassified report by the Office of the Director of National Intelligence revealed 171 not yet identified flying objects out of 366 recorded between March 2021 and August 2022.

    Considering the renewed buzz around UFOs – or UAPs –  how have global UFO sightings been developing in recent years?

    Infographic: Are UFO Sightings Taking Off Again? | Statista

    You will find more infographics at Statista

    There is a National UFO Reporting Center in the United States which documents sightings of unexplained aerial phenomena all over the world and interestingly, sightings have been picking up again.

    While there were two dips in 2018 and 2021, there were once more around 5,000 alleged UFO sightings in 2022.

    This is still below peaks of 8,800 in 2014 and 7,400 in 2020 – when conspiracy beliefs were running high at the onset of the coronavirus pandemic.

    In 2022, 17 percent of Americans said they thought it was likely that Aliens will visit Earth, just below the global average of 18 percent – and below responses recorded in India, China and Latin America.

    As of May 2023, there have been close to 1,400 sightings, which could signaling a slower year for UFO reports.

    Yet, with late reports always a possibility and interest in unidentified flying objects renewed in the aftermath of February’s Chinese spy balloon sage, the jury on this year’s UFO/UAP frequency is still “out there”.

    Tyler Durden
    Sat, 07/01/2023 – 21:00

  • Essential Reading For The Dissident, The Disenfranchised, & The Disillusioned
    Essential Reading For The Dissident, The Disenfranchised, & The Disillusioned

    Authored by Richard Kelly via The Brownstone Institute,

    John Stapleton’s incredible new book Australia Breaks Apart has a surreal quality to it. He taps into the dissonance, the discord, and the disillusionment of those among us who were able, or who dared, to step outside the wall-to-wall propaganda and look at it in real time, or back at it later, in horror.

    Through the book’s central character, Old Alex (a retired journalist, coincidentally just like the author), wave after wave of recognition and acknowledgement of pain and anguish and confusion and foreboding wash over the reader, like a soothing balm for the still raw wounds inflicted by our political leaders. It’s just as well – in between the passages where we crawl inside Old Alex’s head, and hear and feel the visions and the dreams for a country so utterly changed, Stapleton catalogues in excruciating detail the things that were done to us.

    It’s confronting.

    Some of the things I knew about, many others I didn’t, thanks to the suffocating censorship of our complicit mainstream media. Still others I knew about, but had tried to forget.

    Reading it is like reading Solzhenitsyn’s The Gulag Archipelago – page after page of open-mouthed shock at the things humans can do to one another and the things that power can corrupt.

    It’s un-put-downable and un-pick-upable at the same time.

    It’s essential reading for the dissident, the disenfranchised, the disillusioned. We’re not alone, our eyes were not deceiving us, it was not all just a nightmare from which we will one day wake up. It actually happened. Its legacy will be a millstone Australia will carry for decades. This book won’t make up for the tragedies of lives and livelihoods shattered by wilfully stubborn governments and petty tyrants, but it will certainly help.

    Lots of the names and sources will be familiar to the covid dissident – among them McCullough, Malone, RFK, Jr, Naomi Wolf, Rebecca Weisser, Paul Collits, Avi Yemini…the roll call of those we’ve relied on to get an honest point of view.

    But helpful as it is for the victims and the protesters to have this book, those who need to read it the most will find it hard going.

    The laptop class, the ones who learned a new recipe for sourdough, or how to crochet, while truckies and cashiers from the indentured servant class waited on their every need – they are the ones who need to read this book.

    The ones who happily observed that the traffic was lighter and the carbon dioxide lower, while mourners grieved alone, banned from attending the funeral.

    Every single nurse who made a dance video. Every jab clinic manager tallying the day’s injectees and calculating the bonus incentive payment.

    What pangs of self-recognition will they find when they read of humans mistreating each other?

    If they don’t feel any then they could read the whole thing and not be any the wiser, or indeed could take whatever message they want to take from it. If they do feel the pangs of shame, it will take a heroic effort of acceptance and repentance to get through to the end.

    There will even be some, the scoffers who only consume a vegan ‘news’ diet from the ABC or the free-to-air presstitutes, who will find the cognitive dissonance simply too much to deal with and toss the book away in anger and disgust. Some of this group would literally never have heard of the Canadian Trucker protest or the Hancock WhatsApp messages scandal, such was the media silence.

    Let’s assume some of that group do read it. Where will they find themselves afterwards? My guess is that they will find themselves looking for a scapegoat, an excuse, ‘extenuating circumstances,’ to cover their shame. Alas, none will be found.

    Where will a bookstore put this book, among the shelves of thrillers, cookbooks, and travel guides?

    Psychology? Self-help? A good case can be made. It explains our distress, it pushes us on, gives us courage. The treatment of the Canberra protests, disgracefully ignored by the mainstream media, provides the cameos of mateship, love, openness, happiness, togetherness, and fearlessness that we so craved when imprisoned, and which our overlords sought to extinguish.

    Politics, History? For sure. It’s got a much better claim to be a document of record than any of our newspapers have of being a ‘paper of record.’ The author’s distaste for his former profession rises off nearly every page like bile rises in the throat. Likewise contempt for the political class, and the unelected petty tyrants masquerading as health bureaucrats.

    Religion? Fantasy? It sits comfortably alongside CS Lewis’ That Hideous Strength, whose villains thought they could create a new Man, a literally disembodied head, controlled by those at the top. Villains who commanded a private police force in service of a ‘scientific’ institution; who orchestrated the stories to appear in the press and coerced the journalists to write the lies and the propaganda.

    Villains who wrought destruction on an innocent English village and its residents. Stapleton’s book is likewise a tale of supreme political hubris and arrogance, enough arrogance to imagine that a riot squad can control an airborne virus. Lewis brought in the gods to resolve the finale; Stapleton, too, brings the supernatural out into the open, spirits portentously looming over the future of our once free land.

    If it were up to me, I know where it belongs, apart from on the New Releases and Best Sellers shelves.

    True Crime.

    Read it, before you are tempted to ‘move on.’

    Buy it, before they ban it.

    Tyler Durden
    Sat, 07/01/2023 – 20:30

  • Apple, Tesla, & Amazon Are The World's 'Most Innovative Companies' In 2023
    Apple, Tesla, & Amazon Are The World's 'Most Innovative Companies' In 2023

    Every year, Boston Consulting Group (BCG) releases their Most Innovative Companies ranking.

    Based on a survey of over 1,000 innovation executives polled in Dec. 2022 and Jan. 2023, BCG assessed a company’s performance on four dimensions:

    • Global mindshare: the number of votes received from all global innovation executives

    • Industry peer view: the number of votes received from executives in a company’s own industry

    • Industry disruption: the Diversity Index (Herfindahl-Hirschman) of votes across industries

    • Value creation: total shareholder return, including share buybacks, over the 3-year period from Jan. 2020 through Dec. 2022.

    Visual Capitalists Marcus Lu and Athul Alexander provide a more visual representation of these results in the graphic below.

    Data and Highlights

    The 2023 ranking can be found in the table below.

    For the fourth straight year, Apple is considered the most innovative company in the world. In fact, Apple has held this title every year since 2005 with the exception of 2019.

    Rank Company Industry Change in Rank
    (+ or -)
    1 🇺🇸 Apple Technology
    2 🇺🇸 Tesla Transportation & energy +3
    3 🇺🇸 Amazon Technology
    4 🇺🇸 Alphabet Technology
    5 🇺🇸 Microsoft Technology -3
    6 🇺🇸 Moderna Healthcare +1
    7 🇰🇷 Samsung Technology -1
    8 🇨🇳 Huawei Technology
    9 🇨🇳 BYD Company Transportation & energy Returned
    10 🇩🇪 Siemens Technology +10
    11 🇺🇸 Pfizer Healthcare +7
    12 🇺🇸 Johnson & Johnson Healthcare +15
    13 🇺🇸 SpaceX Transportation & energy Returned
    14 🇺🇸 Nvidia Technology +1
    15 🇺🇸 ExxonMobil Transportation & energy Returned
    16 🇺🇸 Meta Technology -5
    17 🇺🇸 Nike Consumer goods & services -5
    18 🇺🇸 IBM Technology -8
    19 🇺🇸 3M Consumer goods & services +18
    20 🇮🇳 Tata Group Transportation & energy Returned
    21 🇨🇭 Roche Healthcare Returned
    22 🇺🇸 Oracle Technology -3
    23 🇩🇪 BioNTech Healthcare New
    24 🇬🇧 Shell Transportation & energy Returned
    25 🇫🇷 Schneider Electric Transportation & energy New
    26 🇺🇸 P&G Consumer goods & services +8
    27 🇨🇭 Nestlé Consumer goods & services +22
    28 🇺🇸 General Electric Transportation & energy +1
    29 🇨🇳 Xiaomi Technology +2
    30 🇺🇸 Honeywell Transportation & energy New
    31 🇯🇵 Sony Technology -22
    32 🇨🇳 Sinopec Transportation & energy New
    33 🇯🇵 Hitachi Transportation & energy +6
    34 🇺🇸 McDonald’s Consumer goods & services Returned
    35 🇺🇸 Merck Healthcare Returned
    36 🇨🇳 ByteDance Technology
    37 🇩🇪 Bosch Transportation & energy -11
    38 🇺🇸 Dell Technology -24
    39 🇨🇭 Glencore Transportation & energy New
    40 🇺🇸 Stripe Technology New
    41 🇸🇦 Saudi Aramco Transportation & energy New
    42 🇺🇸 Coca-Cola Consumer goods & services -6
    43 🇩🇪 Mercedes-Benz Group Transportation & energy Returned
    44 🇨🇳 Alibaba Technology -22
    45 🇺🇸 Walmart Consumer goods & services -32
    46 🇨🇳 PetroChina Transportation & energy New
    47 🇯🇵 NTT Telecommunications New
    48 🇨🇳 Lenovo Technology -24
    49 🇩🇪 BMW Transportation & energy Returned
    50 🇬🇧 Unilever Consumer goods & services

    BCG added additional context on several companies in its report, including Germany’s Bosch (37th). According to BCG, the engineering and technology company has a global R&D organization of 84,800 employees across 130 locations. Bosch has also maintained R&D spending (as a share of sales) at between 7.6% and 8.2% from 2018 through 2021.

    Another highlight was Samsung (7th), which spent over $17 billion (9% of annual sales) on R&D in 2021, making the South Korean conglomerate one of the world’s largest spenders on innovation. Samsung was also granted 6,300 U.S. patents in 2022, the most out of any company.

    As this ranking shows, innovative companies aren’t just tech companies. McDonald’s (34th) is considered by BCG as the “restaurant industry frontrunner in technology innovation and investment”.

    For example, McDonald’s recently acquired Apprente, a startup that develops voice-based technologies, and Dynamic Yield, a firm specializing in creating customizable online experiences. McDonald’s aims to leverage these technologies to improve ordering times and offer customers better choices.

    Companies by Nationality

    Now let’s examine the ranking through a different lens—nationality. The following chart compares the country breakdowns of the 2013 and 2023 rankings.

    The U.S. and China are the only two countries that have increased their share from 2013, pushing out firms from European countries like Germany, the UK, and Italy. We can also see significant declines in Japanese and South Korean representation.

    Given China’s economic growth, it’s likely that Chinese firms will continue to represent more of BCG’s ranking in the future. So far, the country’s strongest innovator is Huawei (8th), which has made the top 50 list every year since 2014, when it debuted at 50th place.

    Tyler Durden
    Sat, 07/01/2023 – 20:00

  • Government Agents Routinely Entering Private Land Without Warrants
    Government Agents Routinely Entering Private Land Without Warrants

    Authored by Brian McGlinchey via starkrealities.substack.com 

    For many people, a central attraction of owning and living on a multi-acre expanse of land is the opportunity for complete privacy — to include freedom from the prying eyes of government.

    While most Americans might understandably believe the Fourth Amendment’s protection against warrantless searches covers all their property, a little-known 1924 Supreme Court decision — Hester v United States — says otherwise. The case struck a major blow against privacy rights, and government agents of all stripes have been exploiting the ruling ever since.

    Those exploitations have grown increasingly brazen. Just ask Josh Highlander, whose home sits on a wooded, 30-acre spread east of Richmond, Virginia.

    In April, Highlander’s wife and 6-year-old son were playing basketball in their yard. When his wife went to retrieve a long rebound, she spotted a man in full camouflage walking among the trees. Alarmed, she and her son darted inside the house.

    Josh Highlander’s wife was frightened when she spotted a fully-camouflaged man through this opening in the woods (Institute for Justice)

    When Highlander went outside, he couldn’t locate the man, but did discover that a game camera he’d placed in his food plot was gone. When he called police, he learned the man on his property was an agent of Virginia’s Department of Wildlife Resources (DWR) — one of three who crossed another piece of private land to enter his property. Worse, the same trio had taken his camera, holding no warrant for that action either.

    These incidents took place on the first day of turkey season. Before coming to Highlander’s property, DWR agents had also entered two other properties, belonging to his brother and to his father, issuing a citation to his brother for illegally hunting “over bait.” However, the alleged “bait” was seed for his brother’s own food plot, consistent with DWR’s instructions for managing such a plot.

    DWR’s violation of Highlander’s liberties didn’t end that day. “For weeks, my son wouldn’t play outside in his own back yard because he was afraid of who might be in the woods,” says Highlander. “My camera was taken two months ago, and I’ve still never received a receipt, a warrant or a ticket.”

    Highlander’s camera was seized by Virginia Department of Wildlife Resources agents acting without a search warrant (Institute for Justice)

    This unsettling brand of government misconduct springs from the Supreme Court’s Hester decision.

    In that 1924 case arising from the alcohol prohibition, revenue agents saw a man, Hester, exit his father’s house and hand another man a bottle. When the two men became aware of the agents’ presence, they both ran, each dropping a bottle on the Hester property. With no warrant, agents entered the property, examined the bottles and found they contained moonshine whisky.

    Supreme Court opinions frequently span upwards of 70 pages or more. With Hester, however, the court took just two paragraphs to decimate the Fourth Amendment’s protection of landowners, with Justice Oliver Wendell Holmes declaring “the special protection accorded by the Fourth Amendment to the people in their ‘persons, houses, papers, and effects,’ is not extended to the open fields.”

    And with that, he burdened his fellow citizens with the “open fields doctrine,” which allows warrantless searches and trespassing on land beyond the “curtilage,” a vague term referring to the outdoor area immediately surrounding a home.

    In 1984, the Supreme Court had an opportunity to undo the harm done by Hester, after a different kind of prohibition — against marijuana — had incentivized police to violate property and privacy rights.

    In Oliver v United States, Kentucky State Police, who suspected that marijuana was being grown on private property, strolled around a locked gate and a “No Trespassing” sign and found a marijuana field a mile from the house. The court observed that the field in question was “bounded on all sides by woods, fences, and embankments, [which] cannot be seen from any point of public access.”

    Despite that fact, rather than overturning Hester, the court reaffirmed the open fields doctrine in a 6-3 decisiondeclaring that, “because open fields are accessible to the public and the police in ways that a home, office, or commercial structure would not be, and because fences or ‘No Trespassing’ signs do not effectively bar the public from viewing open fields, the asserted expectation of privacy in open fields is not one that society recognizes as reasonable.”

    Note the casual recklessness of that reasoning. The Supreme Court essentially declared that, since some private land is viewable from beyond its boundary — from a road or maybe a plane or hot air balloon — all private land apart from the “curtilage” surrounding a home is fair game for government trespasses and searches.

    As technology advances, the open fields doctrine only grows more troubling: If Hester licenses government agents to wander your property at will, it follows that they can use drones or plant cameras to accomplish the same type of spying — with far greater ease and less manpower.

    Government agents are planting cameras like these on private property (Dave Hurteau for Field & Stream)

    Indeed, while Virginia’s warrantless DWR agents shockingly seized Highlander’s camera so they could retroactively monitor his actions (an act that even the expansive open fields doctrine doesn’t seem to authorize), elsewhere in Virginia and in the United States, government agents are already known to hide their own surveillance cameras on private land.

    The Institute for Justice (IJ) — a national civil liberties law firm that provides free-of-charge representation to victims of government overreach — has filed a suit against the Virginia DWR on Highlander’s behalf, as part of a broader, multi-state campaign against abuses perpetrated under the open-fields doctrine.

    Given the formidable federal obstacles presented by the Hester and Oliver precedents, IJ’s strategy in these cases centers on protections outlined in state constitutions rather than the US Constitution.

    “The US Supreme Court’s basis for the open fields doctrine has been that the Fourth Amendment lists ‘persons, houses, papers and effects,’ and none of those things are obviously the same as land,” says IJ attorney Joshua Windham in his firm’s video profile of the case.

    “State constitutions often have different texts…in Pennsylvania and Tennessee, the word ‘effects’ is replaced with the word ‘possessions,’ and we say that includes private land…In Virginia, there’s a textual provision that mentions ‘places’, and of course [Highlander’s] property is a place,” says Windham, who’s representing Highlander.

    In their suit filed in a county circuit court, IJ and Highlander are seeking a declaration that the warrantless search of Highlander’s property and seizure of his camera and its contents violated the Virginia constitution.

    Josh Highlander at his Providence Forge, Virginia home (Institute for Justice)

    “No person at all in this country should have limitless power, and it sure seems like they do,” says Highlander. “It just makes you feel vulnerable, it makes you feel anxious, it makes you feel like someone’s watching you on your own private property.”

    Thomas Jefferson and James Madison would be likewise aghast at the government conduct unleashed by the Supreme Court’s Hester and Oliver decisions. After all, colonists’ anger over British “Writs of Assistance” — which the Tenth Amendment Center’s Mike Maharrey describes as “a go-anywhere and do-anything permission slip for government agents” — was one major grievance that animated the American revolution.

    While the federal precedents stand firm — for now — Highlander says he’s determined to ensure his fellow Virginians are spared the same abuse he’s suffered: “What happened to my family was wrong and I’m fighting for our privacy and to make sure this doesn’t happen to anyone else.”

    Stark Realities undermines official narratives, demolishes conventional wisdom and exposes fundamental myths across the political spectrum. Read more and subscribe at starkrealities.substack.com 

    Tyler Durden
    Sat, 07/01/2023 – 19:30

  • After Fostering Cesspool Of Crime, Gavin Newsom Finally Gets Serious About Fentanyl In San Francisco
    After Fostering Cesspool Of Crime, Gavin Newsom Finally Gets Serious About Fentanyl In San Francisco

    Before he was governor of California, Gavin Newsom (D) served as the Mayor of San Francisco between 2004 and 2011 – with none other than Kamala Harris (D) serving as his Attorney General. While one might encounter Bush Man or Escape Man during the journey to Ghirardelli Square back then, it was nothing like the San Francisco of today.

    Gavin and Kamala set in motion a legacy of poo-covered streets, rampant crime, and an explosion in homelessness and addiction that was further facilitated by Kamala’s successor, ‘Soros’ DA George Gascón (2011 – 2019). Gascón is currently ‘working his magic’ as Los Angeles District Attorney – having survived a recall attempt (in which observers weren’t allowed to view the counting of the votes), with results we’ve noted many times over the years. In fact, last month San Francisco was ranked the worst-run city in America.

    Now that we’re up to speed, and Newsom might be the Democrats’ secret weapon against Trump (or Ron DeSantis) in 2024 – and therefore in dire need of talking points, he’s finally doing something about the fentanyl crisis affecting San Francisco.

    On Thursday Newsom announced that the state will bolster its existing efforts to tackle the fentanyl crisis in the city, with a promise to double the number of California Highway Patrol officers dedicated to the issue in a joint task-force coordinated with the California National Guard that was first announced in May.

    A man lies, passed out after getting high on a sidewalk near City Hall in San Francisco. (Nick Otto via The Chronicle)

    Today, I’m authorizing a 100% increase in personnel to bolster the impact of this proven operation, as well as authorizing targeted surges to crack down on crime in the city,” said Newsom in a press release. “Working alongside our local, state, and federal partners, we’re committed to cleaning up San Francisco’s streets.”

    As of today, the operation has seized over 8.1 kilograms of fentanyl, enough to kill more than 4 million people.

    “CHP’s recent results in San Francisco are nothing short of extraordinary — in just six weeks, the agency’s hardworking officers seized enough fentanyl to potentially kill the city nearly three times over, multiple firearms, and stolen goods,” said Newsom.

    The operation, designed to assist city patrol officers, includes a team of analysts dedicated to monitoring and tracking organized crime and providing advanced metrics to aid investigations, the Epoch Times reports.

    “Our residents, business owners, and visitors to our city deserve to feel safe, and we are making progress in disrupting the drug markets that are causing so much misery on our streets,” said Police chief Bill Scott, who welcomed the support of the state. “Working collaboratively with the CHP, we’ve seized an unprecedented amount of fentanyl and other deadly narcotics in recent weeks, and I look forward to building on our success.”

    Homeless people gather near drug dealers in the Tenderloin District of San Francisco on Feb. 22, 2023. (John Fredricks/The Epoch Times)

    As The Epoch Times notes further;

    San Francisco Fire Department spokespersons reported to the California Assembly’s newly formed Select Committee on Fentanyl, Opioid Addiction, and Overdose Prevention during its first gathering in May about having to respond to multiple overdose emergency calls every day, with an average of two deaths occurring on the streets every 24 hours.

    I don’t even bring my family into the city anymore, and we used to love to come over and eat and shop, just enjoy the area,” Jesse Garcia—an electrician living in the East Bay and working in San Francisco—told The Epoch Times. “I don’t want my young kids seeing the people out here looking like zombies. It’s disgusting, and it’s not safe for families.”

    Faced with several dilemmas stemming from the public’s perceived lack of public safety in the city stemming from homelessness, open-air drug use, and high levels of theft—including retail stores fleeing the downtown area and record levels of office space vacancy impacting the economy—Mayor London Breed voiced her appreciation for the state’s help.

    “Over the last several weeks, we’ve welcomed the California Highway Patrol and National Guard working collaboratively alongside our local agencies to disrupt the drug trafficking and drug markets harming our neighborhoods,” Breed said in the joint press release. “To be successful in the long term, we need to sustain and expand this work at the local, state, and federal levels.”

    San Francisco Mayor London Breed attends an event hosted by Sen. Scott Wiener in San Francisco on Oct. 23, 2022. (John Fredricks/The Epoch Times)

    Federal courts have proven more effective than state and local ones in terms of convicting distributors and some dealers linked to the deaths of individuals, based on court filings this year, levying multi-year sentences on numerous occasions.

    Seemingly fed up with a lack of action from leaders, voters recalled Chesa Boudin—formerly the city’s progressive district attorney—in 2022 by a wide margin.

    Meanwhile, several district attorney’s offices throughout the state report feeling hampered by what they say are limited options for prosecuting those caught with less than one kilogram of the drug.

    Resistance in the Legislature to entertain proposals related to fentanyl sentencing enhancements is an issue that lawmakers on both sides of the aisle have taken exception to, as multiple bipartisan efforts to bolster prosecutorial playbooks were denied earlier this year.

    One measure that is currently still being considered, Assembly Bill 701—a bipartisan bill introduced by Assemblyman Freddie Rodriguez (D-Pomona) enhancing penalties for possession of at least one kilogram of fentanyl—passed the Senate Public Safety Committee June 27, but members reserved their right to oppose the legislation on the floor, as some said they believe increasing prison sentences will not improve the overdose epidemic.

    Complicating matters are the cheap and easy fentanyl manufacturing methods criminal organizations have mastered and the lethality of the substance, with 2 milligrams—only a few grains—potentially deadly, according to the U.S. Drug Enforcement Administration, also known as the DEA.

    The drug is 50 times stronger than heroin and 100 times more potent than morphine.

    A photograph comparing the relative potency of heroin and fentanyl during a news conference at the U.S. Capitol on March 22, 2018 in Washington. (Chip Somodevilla/Getty Images)

    Nearly 29,000 pounds of fentanyl were seized in California in 2022, representing an amount that could kill most of the people on the planet—approximately 6.5 billion, based on DEA calculations.

    According to the most recent statistics from the California Department of Public Health, approximately 115 people die every week in the state as a result of the synthetic opioid.

    Investigators report that many victims are unknowingly poisoned, as the drug is odorless, tasteless, and is often found hidden in counterfeit pharmaceutical products and in street drugs.

    Tyler Durden
    Sat, 07/01/2023 – 19:00

  • US Releases Internal Review Of Botched, Disastrous Afghan Withdrawal 
    US Releases Internal Review Of Botched, Disastrous Afghan Withdrawal 

    Via The Cradle,

    The US State Department did not adequately prepare for the possibility of a swift collapse of the Afghan government as part of its planning for the military withdrawal from Afghanistan, an internal review has found. The US government announced it would complete its withdrawal by September 2021, expecting the US-backed Afghan government and security forces to remain in power and continue peace negotiations with the Taliban.

    However, as the US withdrawal progressed, the government quickly collapsed, and then-president Ashraf Ghani fled the country in August 2021 as the Taliban took control of the capital, Kabul. This led to a chaotic final evacuation of US and Afghan personnel from Kabul airport. The two-week evacuation was marred by the deaths of at least 175 people when NATO troops indiscriminately opened fire on crowds of civilians gathered outside the airport after an ISIS suicide bomber blew himself up.

    Al-Jazeera notes that the State Department After Action Report (AAR) issued on June 30 said the decision by US President Joe Biden and his predecessor Donald Trump to withdraw US forces from Afghanistan after over 20 years of occupation had “serious consequences” for the viability of the US-backed Afghan government.

    “Those decisions are beyond the scope of this review, but the AAR team found that during both administrations, there was insufficient senior-level consideration of worst-case scenarios,” the review said.

    The report specifically criticized the State Department for failing to set up a crisis-management task force soon enough to cooperate with the Pentagon in the case of an evacuation. “Establishing such a task force earlier would have brought key players together to address issues related to a possible [evacuation],” the report stated.

    Further, “Naming a 7th-floor principal … would have improved coordination across different lines of effort,” that report said, referring to the State Department’s top floor where Secretary of State Antony Blinken and senior diplomats have offices.

    The review also blamed the Trump White House for failing to address a backlog of applications for the Special Immigrant Visa (SIV) program, which allows Afghans that might be in danger of retribution by the Taliban for working with foreign occupiers, to emigrate to the US.

    The review also repeated previous claims by the Biden White House that Trump did not adequately plan for the departure of US troops after it reached a deal with the Taliban to withdraw troops by May of 2021, a deadline Biden postponed. Biden and State Secretary Antony Blinken have faced harsh criticism due to the chaos that accompanied the withdrawal.

    Blinken was recently subpoenaed by the House Foreign Affairs Committee (HFAC) to release classified cables from July 2021, in which staffers from the US embassy in Kabul warned that the defeat of the US-trained Afghan army was “imminent.”

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

    However, despite the broad condemnation of the troops’ withdrawal, less attention was paid to the collapse of the Afghan economy. The NATO-funded Atlantic Council think tank noted that “the Afghan economy began spiraling shortly after the Taliban takeover” due to US actions, including imposing “sanctions, the freezing of central bank assets, and removal of foreign aid.”

    The US and a coalition of its allies invaded Afghanistan in 2001 as part of the so-called War on Terror, in which the neoconservative-led Bush Administration sought to invade seven countries in West Asia within five years.

    Tyler Durden
    Sat, 07/01/2023 – 18:30

  • The Closest & Biggest Asteroid Flybys Of 2023
    The Closest & Biggest Asteroid Flybys Of 2023

    On today’s World Asteroid Day, fascination is mixing with fear when considering the latest and upcoming asteroid flybys.According to NASA’s Center for Near Earth Object Studies, a number of asteroids have already passed by a little too close for comfort this year.

    Infographic: The Closest & Biggest Asteroid Flybys of 2022 | Statista

    You will find more infographics at Statista

    As Statista’s Anna Fleck reports, the colossal 2005 YY128, which flew by the Earth on February 16, had a maximum possible diameter of more than 1,000 meters (0.6 miles).

    Because of its size, 2005 YY128 was already discovered in 2005 – as denoted in its name.

    In recent years, scientists have been discovering more and more so-called Near Earth Asteroids, including many smaller ones.

    Despite their comparatively smaller size, these asteroids could still cause considerable damage if they collided with Earth.

    2023 DZ2 (nicknamed “Dizzy”), passed by Earth on March 25, and came so close that it could be seen with a telescope and even binoculars.

    Tyler Durden
    Sat, 07/01/2023 – 18:00

  • Biden: A Bumbling Grifter Personifying A Failing State
    Biden: A Bumbling Grifter Personifying A Failing State

    Authored by James Howard Kunstler via Kunstler.com,

    The Long, Hot Summer

    “Vladimir Putin is clearly losing the War in Iraq.” 

    – Joe Biden, US President

    Russian Revolution Two kicked off the long, hot summer freak show of 2023. Unlike Russian Revolution One (1917), which lasted over seventy years, RR2 clocked out in under twenty-four hours. It didn’t propel Russia into a political paroxysm as perhaps expected by crisis engineers in Langley, VA, and Washington’s Foggy Bottom. Rather, it energized the resolve of arch-nemesis Vlad Putin, solidified his support among the Russian populace (who turned out singing patriotic hymns along the Neva River when the revolt was quashed), and sunsetted the increasingly rogue Wagner private paramilitary company in its Ukraine duties, now to be taken over by regular Russian Federation army units.

    According to commentator Andrei Martyanov – see yesterday’s colloquy on Tommy Carrigan’s PodcastWagner had already gone off the rails in Ukraine, inciting the costly Bakhmut operation on its own to fluff its reputation while preparing for the mutiny executed and aborted on June 24.

    The fate of Wagner’s business manager, Evgeny Prigozhin, remains murky now while he cools his heels in Belarus — a trial, perhaps, at some later date when Ukraine itself stops being a geopolitical psychodrama. He has been publicly branded a “traitor.”

    It was perhaps the hope of America’s feckless Neocon war-dogs that Russia would fall into chaos. This has all along been the hope and expectation of our country’s official stated policy. And it turns out to be ever more at odds with the reality of the situation. Mr. Putin aims to conclude this tragic US-provoked misadventure as swiftly as possible now. This ain’t no Mud Club; this ain’t no foolin’ around. It looks more like the last days of disco in Kiev. The question for the people there is: just how much of Ukraine do you want to be left with intact when this thing is over? Go ahead… choose.

    Despite its master-slave relationship with America, Euroland may not be so avid for World War Three as the “Joe Biden” regime seems to be. The Wagner coup fiasco marks the true crackup of NATO as the Ukraine project fizzles. Surely Europeans with some functioning brain cells must be asking: “what was the point of all this killing and waste?” The clear-eyed may suspect that the point was to get Europe to commit suicide, because that is the obvious result. No more natgas for you, Europe, meaning farewell to major industry and a comfortable standard of living. A lot less wheat and corn coming out of Ukraine to Euroland nations, too. When food costs too much, or is just plain scarce, governments fall. Wait for it.

    Do you suppose that “Joe Biden” & Company can keep up this charade of a proxy war with Russia much longer? $150-billion pounded down the Kiev rat-hole, purchasing yet another foreign relations humiliation. Never has an American president been heaped with such an ignominious foundering and dishonor. He can only pretend to run for reelection as he wrecks the country.

    The DNC poohbahs, cross-eyed in transports of Woke-ism, must know that this bumbling grifter personifies a failing state.

    The White House press pool reporters are even flinging harsh questions at him these days as he desperately searches for doors to escape through.

    The tally in the Biden family bribery operation stands above $30-million now, with government whistleblowers pouring out of the agencies like termites from a burning house. Most of them have not testified in Congress yet, or in any other venue, nor have the various DOJ and FBI officials associated with the broad-based cover-up of these blatant crimes. Do you doubt anymore that Attorney General Merrick Garland perjured himself testifying that the Delaware US attorney David Weiss was not interfered with in the Hunter Biden tax and gun violation case?

    The mounting evidence of foreign influence-peddling is hard and vivid now, viz., the Whatsapp text out this week of Hunter, “sitting here with my father,” extorting Chinese business associate Henry Zhao to fullfill his commitment or “regret not following my direction.” Hmmmmm. Explain that. Or the email archive carefully saved by IRS whistleblower Gary Shapley, who was prudent enough to back up his story with docs apt to prove DOJ malfeasance.

    It’s unfortunate that America suffered three fake presidential impeachments in recent decades – Bill Clinton’s over a sexual impropriety, which is hardly a high crime, and the two utter charades involving Donald Trump – because now our nation is faced with serious presidential crimes explicitly laid out in Article II Section Four of the Constitution: bribery.

    “Joe Biden” will be impeached if he doesn’t bail altogether, and he might not do that because then he loses the power to pardon the other Biden family members involved. The impeachment of Merrick Garland for debauching and dishonoring the Justice Department logically would be the warm-up act for the impeachment of the president. They’ve both got to go and they both could save our country a lot of trouble by just stepping down.

    Then we can see about Kamala Harris.

    *  *  *

    Support his blog by visiting Jim’s Patreon Page

    Tyler Durden
    Sat, 07/01/2023 – 17:00

  • 'Godfather Of AI' Speaks Out: AI Capable Of Reason, May Seek Control
    'Godfather Of AI' Speaks Out: AI Capable Of Reason, May Seek Control

    Authored by Andrew Thornebrooke via The Epoch Times (emphasis ours),

    A leading mind in the development of artificial intelligence is warning that AI has developed a rudimentary capacity to reason and may seek to overthrow humanity.

    British-Canadian cognitive psychologist and computer scientist Geoffrey Hinton, known as the ‘godfather of AI,’ speaks with Nick Thompson of The Atlantic (off frame) during the Collision Tech Conference at the Enercare Centre in Toronto, Canada, on June 28, 2023. (Geoff Robins/AFP via Getty Images)

    AI systems may develop the desire to seize control from humans as a way of accomplishing other preprogrammed goals, said Geoffrey Hinton, a professor of computer science at the University of Toronto.

    “I think we have to take the possibility seriously that if they get smarter than us, which seems quite likely, and they have goals of their own, which seems quite likely, they may well develop the goal of taking control,” Hinton said during a June 28 talk at the Collision tech conference in Toronto, Canada.

    “If they do that, we’re in trouble.”

    Hinton has been dubbed one of the “godfathers of AI” for his work in neural networks. He recently spent a decade helping to develop AI systems for Google but left the company last month, saying he needed to be able to warn people of the risks posed by AI.

    While Hinton does not believe that AI will innately crave power, he said that it could nevertheless seek to seize it from humans as a logical step to better allow itself to achieve its goals.

    “At a very general level, if you’ve got something that’s a lot smarter than you, that’s very good at manipulating people, at a very general level, are you confident that people stay in charge?” Hinton said.

    “I think they’ll derive [the motive to seize control] as a way of achieving other goals.”

    AI Now Capable of Reason

    Hinton previously doubted that an AI superintelligence that could match humans would emerge within the next 30 to 50 years. He now believes it could come in less than 20.

    In part, he said, that is because AI systems that use large language models are beginning to show the capacity to reason, and he is not sure how they are doing it.

    “It’s the big language models that are getting close, and I don’t really understand why they can do it, but they can do little bits of reasoning.

    “They still can’t match us, but they’re getting close.”

    Hinton described an AI system that had been given a puzzle in which it had to plan how to paint several rooms of a house. It was given three colors to choose from, with one color that faded to another over time, and asked to paint a certain number of rooms in a particular color within a set time frame. Rather than merely opting to paint the rooms the desired color, the AI determined not to paint any that it knew would fade to the desired color anyway, electing to save resources though it had not been programmed to do so.

    “That’s thinking,” Hinton said.

    To that end, Hinton said that there was no reason to suspect that AI wouldn’t reach and exceed human intelligence in the coming years.

    “We’re just a big neural net, and there’s no reason why an artificial neural net shouldn’t be able to do everything we can do,” Hinton said.

    “We’re entering a period of huge uncertainty. Nobody really knows what’s going to happen.”

    Read more here…

    Tyler Durden
    Sat, 07/01/2023 – 16:30

  • How Old Are The World's Nuclear Reactors?
    How Old Are The World's Nuclear Reactors?

    Since the advent of nuclear electricity in the 1950s, nuclear reactors have played an essential role in meeting our rising energy needs.

    Nuclear reactors are designed to operate for decades and are typically licensed for 20 to 40 years, and they can last even longer with license renewals.

    So, just how old is the world’s current nuclear reactor fleet?

    As Visual Capitalist’s Govind Bhutada and Sabrina Lam show in the bubble chart below, the age distribution of the 422 reactors operating worldwide as of March 2023 is quite considerable, based on data from the Power Reactor Information System (PRIS).

    The Age Distribution of the Global Reactor Fleet

    Nuclear power saw a building boom in the 1970s, 1980s, and 1990s as countries expanded their energy portfolios and sought to capitalize on the advancements in nuclear technology.

    As a result, the majority of the world’s nuclear reactors began operating during this period.

    Of the total of 422 reactors, 262 reactors have been in operation for 31 to 50 years. In other words, about 62% of all current nuclear reactors were connected to the grid between 1973 and 1992.

    Growth in nuclear power slowed down by the turn of the 21st century, with decreasing public support and increasing concern over nuclear safety. As a result, only a small number of reactors fall into the 11 to 20 year age group.

    But over the last decade, some countries have renewed their interest in nuclear energy, while others like China have continued to expand their reactor fleets. Some 67 reactors are between zero and 10 years old, accounting for 18% of global nuclear electrical capacity.

    The oldest operating reactors (five of them) are 54 years old and entered commercial service in 1969. Two of these are located in the United States, two in India, and one in Switzerland.

    How Long Can Nuclear Reactors Last?

    Although specific lifespans can vary, nuclear reactors are typically designed to last for 20 to 40 years.

    However, reactors can operate beyond their initially licensed periods with lifetime extensions. Extending reactor lives requires rigorous assessments, safety evaluations, and refurbishments.

    Some countries have granted license renewals for aging reactors. Notably, 88 of the 92 reactors in the U.S. have received approvals to operate for up to 60 years, and some have applied for additional 20-year extensions to operate for up to 80 years.

    With safety concerns addressed, reactors with lifetime extensions can offer various advantages. Without the high capital investments needed to build new reactors, they can produce carbon-free electricity at low and competitive costs, which is especially important as the global power sector looks to decarbonize.

    Tyler Durden
    Sat, 07/01/2023 – 16:00

  • Raytheon Calls In Retirees To Help Produce Stinger Missiles
    Raytheon Calls In Retirees To Help Produce Stinger Missiles

    Authored by Dave DeCamp via AntiWar.com,

    Raytheon has called in retired engineers to help produce Stinger anti-aircraft missiles that the US has been providing Ukraine, Defense One reported on Thursday.

    Stingers are shoulder-fired missiles that were out of production for 20 years until the US started sending them to Ukraine when Russia first invaded last year, a policy led by a former Raytheon board member, Secretary of Defense Lloyd Austin.

    AP Image

    According to the Pentagon, the US has provided Ukraine with over 1,700 Stinger missile systems to date.

    “Stinger’s been out of production for 20 years, and all of a sudden in the first 48 hours [of the war], it’s the star of the show and everybody wants more,” Wes Kremer, the president of Raytheon Missiles & Defense, said last week.

    Raytheon needs to produce the Stingers using blueprints drawn up during the Carter administration, as using more advanced production methods would require redesigning the weapon.

    “We were bringing back retired employees that are in their 70s … to teach our new employees how to actually build a Stinger,” Kremer said. “We’re pulling test equipment out of warehouses and blowing the spider webs off of them.”

    The US Army placed an order for Stingers in May 2022 to replace ones sent to Ukraine, but the Pentagon said they won’t be delivered until 2026. Kremer said it would take at least 30 months for the first missiles to be completed due to the time it will take to restart production.

    In March 2022, Raytheon CEO Greg Hayes explained how the war in Ukraine would be a boon for the weapons maker.

    “Everything that’s being shipped into Ukraine today, of course, is coming out of stockpiles, either at DoD or from our NATO allies, and that’s all great news. Eventually we’ll have to replenish it and we will see a benefit to the business over the next coming years,” he said.

    Tyler Durden
    Sat, 07/01/2023 – 15:30

  • Study Finds Xanax, Valium Associated With Brain Injury, Suicide
    Study Finds Xanax, Valium Associated With Brain Injury, Suicide

    About 30 million Americans are taking benzodiazepines like Xanax, Valium, and Klonopin- about 12.5% of the adult population. Doctors and psychiatrists have prescribed these drugs for decades to treat anxiety. But a new study reveals “benzodiazepine usage and discontinuing usage” can create “nervous system injury and negative life effects.” 

    Researchers from the University of Colorado Anschutz Medical Campus said as patients enter the discontinuation phase of Xanax, Valium, and Klonopin, they face significant withdrawal symptoms.

    “Despite the fact that benzodiazepines have been widely prescribed for decades, this survey presents significant new evidence that a subset of patients experiences long-term neurological complications,” said Alexis Ritvo, M.D, M.P.H., an assistant professor in psychiatry at the University of Colorado School of Medicine and medical director of the nonprofit Alliance for Benzodiazepine Best Practices. She said the medical community must reevaluate how it prescribes benzodiazepines. 

    The study was a collaborative effort between CU Anschutz, Vanderbilt University Medical Center, and several drug advocacy that specializes in raising awareness of benzodiazepine harms. 

    “Patients have been reporting long-term effects from benzodiazepines for over 60 years. I am one of those patients. Even though I took my medication as prescribed, I still experience symptoms on a daily basis at four years off benzodiazepines. Our survey and the new term BIND (benzodiazepine-induced neurological dysfunction) give a voice to the patient experience and point to the need for further investigations,” said Christy Huff, MD, one of the paper’s coauthors and a cardiologist and director of Benzodiazepine Information Coalition. 

    About 76.6% of the respondents had long-lasting symptoms after discounting the use of benzodiazepines. Almost half of the respondents had these ten symptoms for more than a year: 

    1. low energy
    2. difficulty focusing
    3.  memory loss
    4. anxiety
    5. insomnia
    6. sensitivity to light and sounds
    7. digestive problems
    8. symptoms triggered by food and drink
    9. muscle weakness
    10.  body pain

    The most alarming part of the study was the symptoms listed above were new and distinct and weren’t experienced before respondents used Xanax, Valium, and Klonopin. Many respondents reported damaged relationships, job loss, and increased medical costs. Also, 54.4% of the respondents reported suicidal thoughts or attempted suicide. 

    But don’t worry because doctors and the government tell us benzodiazepines are safe, just like they said OxyContin wasn’t addictive in the 1990s. 

     

     

     

     

     

    Tyler Durden
    Sat, 07/01/2023 – 15:00

  • IRS Sends Special Notice To Taxpayers In Eight States
    IRS Sends Special Notice To Taxpayers In Eight States

    Authored by Tom Ozimek via The Epoch Times (emphasis ours),

    The Internal Revenue Service (IRS) has sent out a special mailing to taxpayers in disaster-affected areas, letting them know they have more time to pay their taxes.

    The IRS said in a statement Thursday that the special mailing was being sent out to California and seven other states as a follow-up clarification after an earlier message wrongly told them they had 21 days to pay.

    “Although the initial notice indicated a payment deadline of 21 days, taxpayers in these disaster-declared regions actually have until a later date this year to make their payments within the designated timeframe,” the agency stated.

    Taxpayers with balances due who live in parts of Alabama, Arkansas, California, Florida, Georgia, Indiana, Mississippi, and Tennessee that fell under disaster declarations received a CP14 notice from the IRS in late May and June.

    Many of the CP14 notices incorrectly said the affected taxpayers had three weeks to pay outstanding balances.

    “We know our initial mailing caused confusion for taxpayers and tax professionals, and we worked quickly to send a follow-up reminder to help reassure people,” IRS Commissioner Danny Werfel said in a statement.

    “This mailing reflects how we’re trying to be more taxpayer-focused given the additional resources that we’ve been given under the Inflation Reduction Act.”

    The new mailing, called CP14CL, will be sent out within the next several weeks, the agency said.

    The earlier CP14 notices also included a special insert that features the correct payment deadline, which was extended under special tax relief to taxpayers in federally declared disaster zones.

    The IRS has also updated these inserts, which will accompany upcoming CP14 balances-due notices so as to make it clear that the letter does not apply to people covered by disaster declarations.

    Disaster-Related Deadline Extensions

    Earlier this year, taxpayers in federally declared disaster regions—like ones hit by deadly winter storms—were granted tax relief by the IRS in the form of an extension on their deadlines to file their tax returns and pay amounts due.

    A vehicle is partially covered in snow, in the San Gabriel Mountains in San Bernardino County near Los Angeles County, in Mount Baldy, Calif., on Feb. 24, 2023. (Mario Tama/Getty Images)

    The IRS issued notices granting such relief to taxpayers affected by severe weather in parts of Alabama, California, Florida, Georgia, Indiana, New York, and Tennessee. The deadline extensions varied across different disaster areas, with relevant parts of Florida, for example, getting an extension until Aug. 15, while Tennessee storm victims had theirs extended until July 31.

    Read more here…

    Tyler Durden
    Sat, 07/01/2023 – 14:30

  • Democrat Rep. Has Psychotic Meltdown – Calls Supreme Court "Illegitimate White Patriarchy"
    Democrat Rep. Has Psychotic Meltdown – Calls Supreme Court "Illegitimate White Patriarchy"

    The separation of the political left from any sort of reasonable governance has been obvious for years now.  To put it simply, they see the government as their personal weapon for deconstructing the country so they can rebuild society the way they want.  They believe this is their right – The right of the collective to socially engineer   

    The notion that elements of the government might serve the interests of conservatives and independents is an unthinkable heresy.  And, whenever they don’t get exactly what they want from the government (which is rare) they immediately act as if they have been betrayed; that an “insurrection” is afoot to enslave them.  

    This attitude seems to overlook the fact that every major institution in the US has been catering to the far-left for decades.  Even when GOP Republicans have taken a majority in the House, the Senate or put their man in the Oval Office, the general legislative trend has always taken a progressive direction, to the point that America has become increasingly more socialist in its functions.  It’s also the reason why America has become economically and socially unstable.   

    In truth, leftists have been getting what they want from governments and the corporate world for so long they have become utterly entitled, like spoiled children.

    That’s the kind of sad energy we now see on display among Democrats in the face of multiple Supreme Court losses, including the reversal of Roe v. Wade, the blocking of Biden’s student loan relief program and the end of affirmative action on college campuses.  All these court decisions really amount to is a reversal of entitlements that never should have existed in the first place.  Leftists see such entitlements as “civil rights,” never mind that they exist as a means to take the rights of others.

    Democrat Representative Jaamal Bowman echos this ideology, combining it with a tired and psychotic rant about “white patriarchy” being the core function of the Supreme Court.

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    The message?  It’s complicated because it’s unhinged, but at bottom the far-left wants to fundamentally change the very fabric of the government so that it always acts in their favor regardless of who else is trampled in the process.  Let’s try to break down Bowman’s claims…

    Playing the racism card is the Democrat go-to tactic for a reason.  The primary purpose is to incite civil unrest as a tool for control – “Give us what we want or the cities will burn.”  The secondary purpose is to declare ownership of minorities.  The propaganda acts as if all minorities are a monolith that serves the aims of the political left.  The idea that minorities might also be conservative is ignored.    

    Affirmative action has always been a racist policy; it allows institutions to actively discriminate based on skin color and ethnicity.  Interestingly, white people are not the most affected by affirmative action on college campuses; Asian people are the most discriminated against, with double standards in testing and academic excellence designed to keep them out of the classrooms.  According to research from Princeton University, students who identify as Asian must score 140 points higher on the SAT than whites and 450 points higher than Blacks to have the same chance of admission to private colleges.

    The notion of a constitutional convention has already been cited by other Democrats including California Governor Gavin Newsom as a means to dismantle the 2nd Amendment, but Bowman seems to be suggesting a convention to completely upend the Supreme Court and the very foundations of the law.  Keep in mind that Democrats have avidly defended the court structure when it works in their favor, but since the court is finally operating on a more constitutional framework they argue it is now corrupt and white supremacist.

    Student loan debt relief is nothing more than a way for Dems to buy votes – “Put us in office and we will eliminate the debts you accrued getting that degree that was probably useless.”  Of course, taxpaying Americans would have to cover the bill for debt forgiveness on college loans, not the Democratic Party.  It’s rather brilliant when you think about it – Democrats use your money to buy votes to keep themselves in office so they can continue to erode your constitutional rights.  You pay for your own oppression.

    People should have to pay for their own debts.  Taxpayers should not have to pay their debts for them. It teaches a terrible lesson to the next generation that if they make mistakes the government will make sure they don’t have to learn from those mistakes.

    Finally, it’s not surprising that Bowman attacks expanded gun rights in his diatribe on affirmative action, given that the political left cannot maintain power unless the public is eventually disarmed.  Leftists believe in majority rule, as long as they are the majority.  If they are the minority, they riot.  If they are the majority, they demand government suppress their political opponents.  In either case, gun rights stand as a major obstacle to them.  

    It was only a couple years ago that establishment elites and Democrats were pushing for permanent covid mandates, jail time for those who spread information contrary to the government narrative and economic discrimination for anyone who refused to take the vaccines.  The political left took the mask off completely and showed who they really are.  They cannot be trusted to rewrite or rebuild core government structures. 

    Their hatred of the Supreme Court is not based on any legitimate grievances, it’s based on how they view power.  The court is a center of power that does not always act according to the dictates of social justice Marxism.  They see the court as just another “platform” that needs to be co-opted.    

    Many conservatives and moderates also have concerns about how the Supreme Court makes decisions, but one cannot deny the constitutional logic behind their recent rulings.  It’s a shift that should have happened a long time ago, though it is happening in an era in which leftists see ideological deviation as treason.  They will use every trick at their disposal to undermine the law and create double standards to their benefit.  Bowman essentially admits that this is the plan. 

    Tyler Durden
    Sat, 07/01/2023 – 14:00

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Today’s News 1st July 2023

  • A State Of Martial Law: America Is A Military Dictatorship Disguised As A Democracy
    A State Of Martial Law: America Is A Military Dictatorship Disguised As A Democracy

    Authored by John and Nisha Whitehead via The Rutherford Institute,

    “What country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance?”

    – Thomas Jefferson

    The government is goosestepping all over our freedoms.

    Case in point: America’s founders did not want a military government ruled by force. Rather, they opted for a republic bound by the rule of law: the U.S. Constitution.

    Yet sometime over the course of the past 240-plus years that constitutional republic has been transformed into a military dictatorship disguised as a democracy.

    Most Americans seem relatively untroubled by this state of martial law.

    Incredibly, when President Biden bragged about how the average citizen doesn’t stand a chance against the government’s massive arsenal of militarized firepower, it barely caused a ripple.

    As Biden remarked at a fundraising event in California, “I love these guys who say the Second Amendment is—you know, the tree of liberty is water with the blood of patriots. Well, if [you] want to do that, you want to work against the government, you need an F-16.  You need something else than just an AR-15.”

    The message being sent to the citizenry is clear: there is no place in our nation today for the kind of revolution our forefathers mounted against a tyrannical government.

    For that matter, the government has declared an all-out war on any resistance whatsoever by the citizenry to its mandates, power grabs and abuses.

    By this standard, had the Declaration of Independence been written today, it would have rendered its signers extremists or terrorists, resulting in them being placed on a government watch list, targeted for surveillance of their activities and correspondence, and potentially arrested, held indefinitely, stripped of their rights and labeled enemy combatants.

    This is no longer the stuff of speculation and warning.

    For years, the government has been warning against the dangers of domestic terrorism, erecting surveillance systems to monitor its own citizens, creating classification systems to label any viewpoints that challenge the status quo as extremist, and training law enforcement agencies to equate anyone possessing anti-government views as a domestic terrorist.

    2008 Army War College report revealed that “widespread civil violence inside the United States would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.” The 44-page report goes on to warn that potential causes for such civil unrest could include another terrorist attack, “unforeseen economic collapse, loss of functioning political and legal order, purposeful domestic resistance or insurgency, pervasive public health emergencies, and catastrophic natural and human disasters.”

    Subsequent reports by the Department of Homeland Security to identify, monitor and label right-wing and left-wing activists and military veterans as extremists (a.k.a. terrorists) have manifested into full-fledged pre-crime surveillance programs. Almost a decade later, after locking down the nation and spending billions to fight terrorism, the DHS concluded that the greater threat is not ISIS but domestic right-wing extremism.

    Rounding out this profit-driven campaign to turn American citizens into enemy combatants (and America into a battlefield) is a technology sector that is colluding with the government to create a Big Brother that is all-knowing, all-seeing and inescapable. It’s not just the drones, fusion centers, license plate readers, stingray devices and the NSA that you have to worry about. You’re also being tracked by the black boxes in your cars, your cell phone, smart devices in your home, grocery loyalty cards, social media accounts, credit cards, streaming services such as Netflix, Amazon, and e-book reader accounts.

    The events of recent years have all been part of a master plan to shut us up and preemptively shut us down: by making peaceful revolution impossible and violent revolution inevitable.

    The powers-that-be want an excuse to lockdown the nation and throw the switch to all-out martial law.

    This is how it begins.

    As John Lennon warned, “When it gets down to having to use violence, then you are playing the system’s game. The establishment will irritate you—pull your beard, flick your face—to make you fight. Because once they’ve got you violent, then they know how to handle you.”

    Already, discontent is growing.

    According to a USA TODAY/Suffolk University poll, 7 out of 10 Americans believe that American democracy is “imperiled.”

    Americans are worried about the state of their country, afraid of an increasingly violent and oppressive federal government, and tired of being treated like suspects and criminals.

    What we’ll see more of before long is a growing dissatisfaction with the government and its heavy-handed tactics by people who are tired of being used and abused and are ready to say “enough is enough.”

    This is what happens when a parasitical government muzzles the citizenry, fences them in, herds them, brands them, whips them into submission, forces them to ante up the sweat of their brows while giving them little in return, and then provides them with little to no outlet for voicing their discontent.

    Our backs are against the proverbial wall.

    We’ve been losing our freedoms so incrementally for so long—sold to us in the name of national security and global peace, maintained by way of martial law disguised as law and order, and enforced by a standing army of militarized police and a political elite determined to maintain their powers at all costs—that it’s hard to pinpoint exactly when it all started going downhill, but we’ve been on that fast-moving, downward trajectory for some time now.

    When the government views itself as superior to the citizenry, when it no longer operates for the benefit of the people, when the people are no longer able to peacefully reform their government, when government officials cease to act like public servants, when elected officials no longer represent the will of the people, when the government routinely violates the rights of the people and perpetrates more violence against the citizenry than the criminal class, when government spending is unaccountable and unaccounted for, when the judiciary act as courts of order rather than justice, and when the government is no longer bound by the laws of the Constitution, then you no longer have a government “of the people, by the people and for the people.”

    Brace yourselves.

    There is something being concocted in the dens of power, far beyond the public eye, and it doesn’t bode well for the future of this country.

    Anytime you have an entire nation so mesmerized by political theater and public spectacle that they are oblivious to all else, you’d better beware.

    Anytime you have a government that operates in the shadows, speaks in a language of force, and rules by fiat, you’d better beware.

    And anytime you have a government so far removed from its people as to ensure that they are never seen, heard or heeded by those elected to represent them, you’d better beware.

    The architects of the police state have us exactly where they want us: under their stamping boot, gasping for breath, desperate for freedom, grappling for some semblance of a future that does not resemble the totalitarian prison being erected around us.

    The government and its cohorts have conspired to ensure that the only real recourse the American people have to express their displeasure with the government is through voting, yet that is no real recourse at all.

    Yet as I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, what is unfolding before us is not a revolution. This is an anti-revolution.

    We are at our most vulnerable right now.

    Tyler Durden
    Fri, 06/30/2023 – 23:40

  • These Industries Are Most 'At Risk' For AI Automation
    These Industries Are Most ‘At Risk’ For AI Automation

    Since the release of tools like ChatGPT, artificial intelligence (AI) has begun to permeate industries worldwide, transforming the way we work and live.

    To gain insight into this rapidly evolving landscape, Visual Capitalist’s Marcus Lu and Sabrina Lam – using data from MSCI – has ranked U.S. industries by their estimated share of employment that could be exposed to AI-driven automation.

    Data and Highlights

    This analysis comes from a March 2023 report published by Goldman Sachs Global Investment Research. 

    The authors estimated automation exposure for over 900 U.S. jobs using the O*NET occupational database, which provides details on the types of tasks each occupation conducts. Exposure estimates were then weighted by the employment share of each occupation, and aggregated to the industry level.

    Industry Estimated Share of U.S. Employment Exposed to AI (%)
    Office and administrative support 46%
    Legal 44%
    Architecture and engineering 37%
    Life, physical, and social science 36%
    Business and financial operations 35%
    Community and social service 33%
    Management 32%
    Sales and related 31%
    Computer and Mathematical 29%
    Farming, fishing, and forestry 28%
    Protective service 28%
    Healthcare practitioners and technical 28%
    Educational instruction and library 27%
    Healthcare support 26%
    Arts, design, entertainment, sports, and media 26%
    All industries average 25%
    Personal care and service 19%
    Food preparation and serving related 12%
    Transportation and material moving 11%
    Production 9%
    Construction and extraction 6%
    Installation, maintenance, and repair 4%
    Building and grounds cleaning and maintenance 1%

    According to these findings, “office and administrative support” will likely be the most affected by AI-driven automation at 46%. This transformation could largely impact common tasks such as data entry, scheduling meetings, and document management.

    The second highest industry, “legal”, trails close behind at 44%. AI is expected to automate legal processes like contract analysis, and could even be used to anticipate court case outcomes.

    As expected, industries that won’t be heavily impacted are those that rely heavily on manual labor, like “construction and extraction.” 

    Benchmarking the Automated Future

    AI is still a very new and developing technology. How it will impact labor productivity in the future depends on its capability (how fast it improves) and adoption (how quickly people and businesses begin using it). 

    Adoption rates are unlikely to be the same around the world, as survey results have shown that some countries are more optimistic towards AI than others.

    Under the most aggressive scenario, Goldman Sachs believes that AI automation could impact up to 300 million jobs globally and potentially result in a 7% increase in annual GDP (equal to about $7 trillion). 

    Given AI’s massive potential for disruption, it’s more important than ever for investors to stay ahead. That’s why MSCI has created the MSCI ACWI IMI Robotics & AI Index, which benchmarks an investable universe of companies associated with the adoption of AI, robotics, and automation.

    Tyler Durden
    Fri, 06/30/2023 – 23:20

  • Ivanka Trump Dropped As Co-Defendant In $250 Million Lawsuit
    Ivanka Trump Dropped As Co-Defendant In $250 Million Lawsuit

    Authored by Tom Ozimek via The Epoch Times (emphasis ours),

    A New York appeals court has dismissed all claims against former President Donald Trump’s daughter Ivanka Trump in a civil lawsuit brought by Attorney General Letitia James.

    Ivanka Trump speaks during the final day of the Republican National Convention from the South Lawn of the White House in Washington, on Aug. 27, 2020. (Brendan Smialowski / AFP via Getty Images)

    The New York Appellate Division’s First Department ruled unanimously this week to dismiss claims against Ivanka Trump because they were filed too late and she was no longer part of the Trump Organization during the relevant period.

    The allegations against defendant Ivanka Trump do not support any claims that accrued after February 6, 2016. Thus, all claims against her should have been dismissed as untimely,” the judges wrote in the decision.

    While the judges denied the former president’s motion to dismiss the case, they agreed to limit the time frame of some of the claims against the other defendants, barring some claims before 2016 and others before 2014.

    The Trumps have denied any wrongdoing while the former president has accused James of engaging in a politically-motivated prosecution.

    President Donald Trump arrives, flanked by daughter and advisor Ivanka Trump and wife, first lady Melania Trump, to deliver his acceptance speech for the Republican Party nomination for reelection during the final day of the Republican National Convention from the South Lawn of the White House in Washington, on Aug. 27, 2020. (Saul Loeb/AFP via Getty Images)

    ‘Witch Hunt,’ Claims Trump

    James’ civil lawsuit, filed in September 2022, seeks at least $250 million in damages from Trump, his adult sons Donald Jr. and Eric, the Trump Organization and others. It also seeks to block the Trumps from operating businesses in the state of New York.

    The suit accuses Trump of lying about asset values in order to secure better terms for loans and insurance

    It alleges that, for about a decade between 2011 and 2021, Trump fraudulently manipulated asset valuations, including his Mar-a-Lago estate in Florida, his Trump Tower penthouse in Manhattan, and his own net worth.

    James wants the Trump Organization to be barred from doing business in New York, from engaging in real estate acquisitions in the state for five years, and for Trump and his children to be barred from serving as high-level executives at any New York company.

    Trump, who is the Republican frontrunner in the 2024 presidential election, has called James’ lawsuit a politically-motivated “witch hunt” meant to thwart his bid for the White House.

    A spokesperson for the New York Attorney General’s office said in a statement to media outlets following Tuesday’s appellate court ruling that there’s enough evidence for the case to proceed against the other defendants.

    “There is a mountain of evidence that shows Mr. Trump and the Trump Organization falsely and fraudulently valued multiple assets and misrepresented those values to financial institutions for significant economic gain,” a spokeswoman for James said.

    “This decision allows us to hold him accountable for that fraud, and we intend to do so,” the spokesperson added.

    Christopher Kise, a lawyer for the former president and most of the other defendants, said the ruling was “the first step” toward ending the lawsuit.

    “The correct application of the law will now limit appropriately the previously unlimited reach of the attorney general,” he said.

    “We remain confident that once all the real facts are known, there will be no doubt President Trump has built an extraordinarily successful business empire.”

    Read more here…

    Tyler Durden
    Fri, 06/30/2023 – 23:00

  • Florida Issues Statewide Emergency Malaria Alert
    Florida Issues Statewide Emergency Malaria Alert

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    The Florida Department of Health issued a statewide alert after four people in Sarasota contracted malaria in locally transmitted cases, coming a day after the U.S. Centers for Disease Control and Prevention issued a similar notice for Florida and Texas.

    This thin film blood smear photomicrograph reveals the presence of two Plasmodium malariae schizonts, which cause malaria. (CDC/Dr. Mae Melvin)

    “All individuals have been treated and have recovered. Malaria is transmitted through infected mosquitoes,” Florida’s Department of Health stated in a release issued June 27.

    The agency stated that ground and airborne spraying that targets mosquitos will be carried out around Sarasota, which is near Tampa, to mitigate transmission.

    “Effective treatment is readily available through hospitals and other health care providers,” the department stated. “Individuals in this area with symptoms of fever, chills, sweats, nausea/vomiting, and headache should seek immediate medical attention.”

    It also advised the public to control the breeding of mosquitoes by eliminating any standing water, which is where mosquitoes lay their eggs.

    This close-up photograph shows a mosquito in Montlouis-sur-Loire, central France, on Oct. 21, 2022. (Guillaume Souvant/AFP via Getty Images)

    Drain water from garbage cans, house gutters, buckets, pool covers, coolers, toys, flowerpots, or any other containers where sprinkler or rainwater has collected,” the alert said.

    Locals should also take precautions while outdoors by using bug spray, avoiding infested areas, and wearing long sleeves and pants if possible.

    Malaria is caused by a parasite, Plasmodium vivax, that spreads via mosquito bites, with the largest number of deaths occurring in tropical places such as sub-Saharan Africa. Malaria can be transmitted only by infected mosquitoes, not other people.

    Symptoms include chills, fever, tiredness, headache, muscle aches, vomiting, diarrhea, and nausea, and anemia and jaundice may also occur. If left untreated, infected individuals could develop more serious complications and die.

    According to the World Malaria Report, released by the U.N. World Health Organization, there were about 247 million cases of malaria in 2021, while the estimated death toll for that year was 619,000. The WHO African Region had the highest share, accounting for about 95 percent of cases and 96 percent of deaths, it said.

    Malaria was mostly eliminated in the United States in 1951 after officials sprayed the pesticide DDT and drained swamps in rural areas. DDT was ultimately banned in 1972 in the United States but is still used in African countries.

    CDC Issues Notice for 2 States

    Earlier this week, the Centers for Disease Control and Prevention (CDC) stated that the cases in Florida and one in Texas mark the first local spread of malaria in the United States in about 20 years.

    Read more here…

    Tyler Durden
    Fri, 06/30/2023 – 22:40

  • The Sad State Of American Journalism
    The Sad State Of American Journalism

    Authored by Patrick Maines via RealClear Wire,

    We may never know for sure why FOX News sidelined Tucker Carlson, their most popular anchor, but the reason this matter takes on greater importance is because of the growing realization that the U.S. media beyond FOX no longer practice journalism worth the name.

    Of course, it’s been widely known for a while now that propaganda and misinformation are the lifeblood of an outfit like CNN. But the truly horrifying thing is that it’s not just CNN. It’s virtually all of the MSM. Readers of RealClearPolitics, the NY Post, Wall Street Journal, and a handful of other mostly online outlets are aware of the cascading evidence of massive corruption by President Biden and his family, aided and abetted by the FBI and the Justice Department.

    But if you get your news from ABC, CBS, NBC, PBS, NPR, the Washington Post, or the New York Times, you have quite possibly not been aware of it. The worst aspect of this isn’t just the occasional betrayal of the country and every virtue in journalism. The worst is that these and other legacy media have been acting as a kind of journalistic cabal from 2016 until the present moment.

    The list of truthful stories they have ignored or dismissed is as long as one’s arm. It includes the evidence that “Russiagate” was a fraud; that Hunter Biden’s laptop was, in fact, his and was deeply incriminating; that Joe Biden interjected himself in the affairs of the Ukrainian company, Burisma, to protect Hunter’s relationship with and astounding compensation from that company; that using his dad’s name, Hunter coerced millions of dollars out of a Chinese company (Harvest Fund Management) and then shared some of that booty with other Biden family members; and that in all of these things, the media actively sought to protect Joe Biden and to keep the American people in the dark.

    One could add to this list the MSM’s lack of curiosity about the origin of COVID and the Wuhan Lab, and the ongoing scandal of the storming of our southern border.

    If even one or two of the national news media had seriously delved into these matters – an ABC or CBS, a Times or Post – one could still have some degree of confidence in the independence and integrity of the media. But when none of them have done so, we are confronted with the chilling realization that the legacy media, for reasons only they and their therapists know, have become an existential threat to our country. Simply put, you cannot have a functioning democratic system when the citizens are kept in the dark and misled by our national news organizations.

    As things stand now, a large number (a majority, according to a Gallup poll released in October of last year) of Americans have little or no confidence in the media. How could they? If the MSM ignore or misinform their readers and viewers about the most important issues of the day, how can people know how to act, vote, or think? Put another way, if the media don’t report something, did it happen?

    Judging by multiple reports to date, events are going to force an answer to that question in the very near future. Thanks to pieces from online news and opinion outlets, and to FOX, there will be no avoiding the claims now being made about Joe and Hunter Biden, and about Merrick Garland and the Justice Department. And if, in the debate and resolution of these matters, everything the media has said and not said is proven wrongheaded and worse, where then the Fourth Estate?

    Tyler Durden
    Fri, 06/30/2023 – 22:20

  • US Arming Taiwan With Volcano Mine-Laying Systems After Biden Called Xi A Dictator
    US Arming Taiwan With Volcano Mine-Laying Systems After Biden Called Xi A Dictator

    Taiwan has finalized a new defense deal with the US worth $146 million to acquire Volcano Vehicle-Launched Scatterable Mine Systems, seen as crucial for defense of the self-ruled island in the event of a Chinese military invasion. This comes the same week the State Department announced approval for $440 million more in ammo and logistics deals for Taiwan.

    The pending Volcano mine-laying systems deal had first been previewed by the US Defense Security Cooperation Agency in December 2022. It additionally included M977A4 trucks, M87A1 anti-tank mines, as well as M88 and M89 training munitions.

    A M977 HEMTT with M136 Volcano mine dispensing system. Image: US Army

    Announcement of the finalized deal is sure to provoke China, at a moment Beijing-Washington relations have hit a recent low point, amid continued fallout over the Chinese ‘spy balloon’ shootdown in February and Biden’s recently calling Xi Jinping a “dictator”. Secretary of State Antony Blinken in follow-up days ago said he backed Biden’s assessment. 

    Taiwan’s army first proposed acquisition of the US mine-laying system in 2018, as it needed to capability for rapid deployment of anti-tank mines over a large area, in the scenario of an amphibious landing assault

    Among the capabilities of the Volcano system include

    • each vehicle contains 960 anti-tank/anti-personnel mines
    • is capable of laying a minefield 1,100 meters long
    • …and can scatter mines 120 meters wide within four to 12 minutes

    A review of the system’s further specs and capabilities from a US defense industry website details the following

    Ground Volcano is designed to emplace large minefields in depth and tactical minefields oriented on enemy forces in support of maneuver operations and friendly AT fire. The system consists of the M139 Dispenser used for dispensing pre-packaged mine canisters, the dispensing control unit (DCU) and mounting hardware, and is designed to be mounted on either ground or aerial vehicles using the same components except for the mounting hardware, which varies between fitment.

    Volcano is designed to be fitted to and removed from vehicles with a minimum of time and labour. The dispensing system is also designed for ease of use, to operated by personnel with a minimum of training. The ordnance used by the system is based upon a modified GATOR mine. Both live and inert (training) ordnance is available; live canisters are painted green while inert canisters are painted blue.

    China has meanwhile continued its warnings aimed at Taipei and the US, on Friday sending 24 Chinese PLA jets and five naval vessels near Taiwan, in what has at this point become a weekly and almost daily exercise.

    Last weekend, the Taiwanese Defense Ministry said that eight Chinese warplanes came close to Taiwan’s contiguous zone, which extends 24 nautical miles off the island’s coast–which was a true rarity and is being widely interpreted as a more severe threat, compared to the somewhat routine breaches of the Air Defense Identification Zone (ADIZ). 

    Tyler Durden
    Fri, 06/30/2023 – 22:00

  • The Power To Define Is The Power To Rule
    The Power To Define Is The Power To Rule

    Authored by Pete McGinnis via RealClear Wire,

    The federal legislative process is messy, slow, and littered with stumbling blocks – exactly as the Founders intended. Compromise and half-loaves are built into the system. The public can learn what legislation is up for vote, and members can slow down the process as they represent their constituents and work on their policy priorities. The sluggish pace frustrates activist government whether on the left and the right, so the executive branch finds workarounds: agencies promulgate regulations, the president issues executive orders, and so on.

    Yet sometimes, in order to get what it wants, the government just changes how things are defined. The simple manipulation of language or the meaning of a word can often remove obstacles and give federal agencies what they couldn’t get through legislation.

    For example, the National Academy of Sciences has proposed a new definition of poverty. Ostensibly, it wants to do this because “An accurate measure of poverty is necessary to fully understand how the economy is performing across all segments of the population and to assess the effects of government policies on communities and families.”

    That’s reasonable. What’s not reasonable is the new definition’s practical impact: making millions more people eligible for welfare benefits. The U.S. could get a massive backdoor extension of the welfare state – at least $124 billion over 10 years, by one estimate – because NAS arbitrarily wants a new definition.

    With Congress closely divided, this kind of spending could be nearly impossible to pass. But if the Census Bureau adopts NAS’s proposed new definition, the administration doesn’t need Congress.

    And NAS’s proposal is not arbitrary. Twelve of the 13 authors of the paper proposing the change “have contributed to Democratic causes or worked for Democratic administrations.” So, inside of government, shielded from oversight and public awareness, partisans want to implement a partisan scheme – and they can do it by changing a few works or numbers.

    It’s a common tactic. In the first two quarters of 2022, the United States experienced negative economic growth. That had long been one of the definitions of an economy in recession. Not anymore: with midterm elections looming, the Biden administration refused to acknowledge the recession. “When you’re creating almost 400,000 jobs a month, that is not a recession, Treasury Secretary Janet Yellen said.

    But job creation has not been a measure of what constitutes a recession – at least, not until it became convenient for the White House. Yellen was adamant. “This is not an economy that’s in a recession. A recession is broad-based weakness in the economy. We’re not seeing that now,” she said.

    Truth may be the first casualty of war, but it’s no safer during a pandemic. This became apparent in September 2021, when the Centers for Disease Control (CDC) quietly redefined the words “vaccine” and “vaccination” on its website. As the Miami Herald explained:

    Before the change, the definition for “vaccination” read, “the act of introducing a vaccine into the body to produce immunity to a specific disease.” Now, the word “immunity” has been switched to “protection.”

    The term “vaccine” also got a makeover. The CDC’s definition changed from “a product that stimulates a person’s immune system to produce immunity to a specific disease” to the current “a preparation that is used to stimulate the body’s immune response against diseases.”

    Why did the CDC make these changes? Because the COVID-19 “vaccines” weren’t vaccines at all. Whatever their benefits, the shots developed and distributed in response to the pandemic did not “stimulate a person’s immune system to produce immunity to a specific disease.” Yet they were hyped as vaccines. When it became apparent that the shots weren’t doing the job of vaccines, the government decided to change the definition of what a vaccine is.

    A CDC spokesperson’s attempt to explain it was singularly ineffectual: “Slight changes in wording over time … haven’t impacted the overall definition.” Except in this case. As the Herald explained, the spokesperson then went after a strawman:

    The previous definitions could have been “interpreted to mean that vaccines were 100% effective, which has never been the case for any vaccine, so the current definition is more transparent, and also describes the ways in which vaccines can be administered,” the spokesperson said.

    Nobody ever thought that vaccines were 100 percent effective, and even if they did, the responsible course would have been to call the COVID-19 drugs what they were and explain the difference to the public. Instead, government called them vaccines at a time when the public was desperate for the sort of reassurance the word “vaccine” had always carried.

    In each of these cases, smart government insiders are using semantic sleight of hand to achieve their objectives or to justify them after the fact. “Control the language, control the masses” is a cliché, but only truths become clichés. Representative democracy is supposed to guarantee the people a voice in governance and ensure transparency in government’s workings. Unelected bureaucrats altering definitions to suit their needs betrays both goals.

    Pete McGinnis is director of communications at the Functional Government Initiative.

    Tyler Durden
    Fri, 06/30/2023 – 21:40

  • These Are The Largest Asteroid Craters On Earth
    These Are The Largest Asteroid Craters On Earth

    June 30 marks Asteroid Day, a day dedicated by the United Nations to raising awareness around the risks of asteroid impacts.

    The following chart, via Staista’s Anna Fleck, uses estimates from the Asteroid Foundation’s Asteroid Day portal to provide a round up of eight of the largest known asteroid impact craters on Earth.

    Infographic: The Largest Asteroid Craters on Earth | Statista

    You will find more infographics at Statista

    First on the list – and the largest – is the Vredefort Crater, located not far from Johannesburg in South Africa. The crater was formed an estimated two billion years ago and today has an estimated diameter of some 300km.

    Next up, is the Chicxulub Crater, located in the Yucatán Peninsula of Mexico. The Chicxulub impactor, as the asteroid that created it was known, is presumed to have wiped out the dinosaurs some 66 million years ago. The asteroid itself is thought to have been approximately 10 km in diameter and today its impact crater is approximately 180 km across.

    The Popigai Crater in northern Siberia, Russia was created some 35 million years ago and today has a diameter of approximately 100 km. According to Asteroid Day, the area is now rich in diamond reserves thanks to the region having been heavy in carbon, which turned into the precious stone under the heat and pressure of the impact.

    Three major impact craters in North America also make it onto the list: two in Canada (the Sudbury Basin in Ontario and the Manicouagan Crater in Québec) as well as one in the United States (Chesapeake Bay in Virginia). The latter is considered one of the best-preserved “wet-target” or marine impact craters worldwide.

    To get a sense of scale, according to the Asteroid Day platform, many of these asteroid impact craters are so immense that they are only noticeable when using satellite imagery.

    Different sources rank global craters with other metrics, for instance depending on the size of the impact crater when it was created rather than today, when it might have changed size due to erosion.

    Tyler Durden
    Fri, 06/30/2023 – 21:20

  • Beijing And Shanghai Record Largest Decline In Existing Home Prices
    Beijing And Shanghai Record Largest Decline In Existing Home Prices

    Authored by Mary Hong via The Epoch Times (emphasis ours),

    China released its May national housing price data on June 15. Beijing and Shanghai had the largest fall in second-hand home prices among 70 large and medium-sized cities.

    The price of second-hand homes in Shanghai fell by 0.8 percent compared with the previous month, the largest drop among cities surveyed, and Beijing fell by 0.6 percent.

    A real estate sales office in Beijing. (Getty Images)

    Experts believe the fall in prices in the two megacities is a sign of a bad economy.

    U.S.-based economist Davy J. Wong explained that the majority of Chinese investors have been limited to real estate because of limited investment channels under the current ruling regime.

    He said that Chinese people in general believed real estate provides a better cushion against inflation and depreciation.

    In China, local governments and developers who set the new housing market price have the real estate market fairly monopolized; “but the second-hand market is fairly free for maneuver, and thus reflects the true market in China,” he said.

    A worker walks past a billboard advertising a new real estate project in Shanghai. (Philippe Lopez/AFP/Getty Images)

    In a 2019 report of the People’s Bank, 74.2 percent of tangible assets of urban households were housing, in a nationwide survey of 30,000 urban households; whereas real estate accounted for only around 30 percent of total household wealth in the United States, said the Chinese media report.

    The weak economy has forced everyone to cut down their consumption, Wong analyzed. The three-year zero-COVID policy has ruined people’s confidence in the future. He believed many more people choose to sell their properties to ease financial stress, “It’s a risk management,” he said.

    Wong said the falling second-hand housing prices in Beijing and Shanghai suggested the supply is too large for the transaction volume to keep up.

    Read more here…

    Tyler Durden
    Fri, 06/30/2023 – 21:00

  • 40% Of Californians Are Considering Moving To Another State Due To Cost Of Living
    40% Of Californians Are Considering Moving To Another State Due To Cost Of Living

    Just when you though the exodus from California to places like Florida and Texas may have slowed….you can guess again.

    That’s because a recent poll called the California Community Poll, administered at the beginning of June, showed that roughly 43% of residents in California think the state is heading in the wrong direction. 

    28% have mixed feelings about the direction and 28% think it is going in the right direction, a summary from Just the News/The Center Square reported this week. The survey interviewed 1,354 people. 

    56% of respondents were “totally dissatisfied” with the state’s cost of healthcare and another 56% said they were dissatisfied with the cost of homes in the state. More than 50% of residents also were dissatisfied with safety in their local communities, the report says.

    Californians also seem to be unhappy with the state’s economy, with 68% of those polled saying they were “totally dissatisfied” and a stunning 81% of respondents saying that the cost of everyday expenses was unsatisfactory. 

    61% of those polled also said the cost of living is the key reason that they are considering leaving the state, with about 40% of respondents saying they are considering moving to another state, even with 68% of respondents saying California is “part of how they identify themselves”. 

    Also focused on the economy, 46% of residents surveyed said they can’t pay for an unexpected expense and don’t have the ability to save. 

    The report was quick to note that, despite the stunning response from the more than 1,300 people surveyed, many residents were “by and large” still happy to live in the state because it “brings people together around new ideas and vibrant communities.”

    So, we’ll see you in Texas and Florida then, right?

    Tyler Durden
    Fri, 06/30/2023 – 20:40

  • New York City Now Sheltering More Illegal Immigrants Than Homeless Citizens: Deputy Mayor
    New York City Now Sheltering More Illegal Immigrants Than Homeless Citizens: Deputy Mayor

    Authored by Ryan Morgan via The Epoch Times (emphasis ours),

    New York City is now providing more shelter to non-citizens than to its own homeless resident population, according to the latest assessment from a city official.

    Illegal immigrants and their relatives take part in a family reunion event in Queens, New York, on June 25, 2023. (Yuki Iwamura/AFP via Getty Images)

    At a Wednesday press conference, New York City Deputy Mayor For Health and Human Services Anne Williams-Isom said the city is currently sheltering more than 100,000 people, the majority of whom are illegal immigrants and other non-citizens who are seeking to stay in the United States for the long-term.

    With over 50,000 asylum seekers currently in our care at this point, we now have more people seeking U.S. asylum than longtime unhoused New Yorkers in our shelter system,” New York City Williams-Isom said.

    Many of the non-citizens being sheltered in the city are people who illegally crossed the U.S. southern border but made asylum claims or otherwise requested legal status in the U.S. and are now awaiting a ruling in their immigration cases.

    Since last year, Republican Texas Gov. Greg Abbott has been busing illegal immigrants away from his border state to other areas of the country; particularly Democratic districts like New York City that have designated themselves as immigration “sanctuary cities.” New York City has been one of the main receiving points for tens of thousands of these illegal immigrants and many have stayed in the city since their arrival.

    Williams-Isom called the ratio of illegal immigrants to resident homeless people in the city’s shelter system “sobering.” She said New York City has taken in 81,200 illegal immigrants and asylum seekers since the Spring of 2022, including “2,500 new asylum seekers” in the past week.

    “You see from today’s numbers that we have reached a tipping point,” she said. “We now have more asylum seekers in our care than longtime New Yorkers from when we first came in and who are in our existing [New York City Department of Homeless Services] system.

    NYC Mayor’s Shelter Strategy

    Williams-Isom said New York City has opened 176 new shelter sites, including 12 humanitarian relief sites since last spring, but indicated the city has virtually exhausted its capacity to shelter people.

    “We will continue to do our part. I might say we’re doing more than our part,” she said on Thursday. “But this is a national humanitarian crisis and we need sustained and profound support from the federal government in the form of financial aid and in the form of a national coordination.”

    Following a 1984 court decision known as the “Callahan consent decree,” New York City has had to provide shelter for virtually all homeless people who apply. Last month, New York City Mayor Eric Adams requested that a court suspend this “Right to Shelter” rule. New York City is also one of many locations throughout the U.S. that consider themselves “sanctuary cities,” meaning they do not cooperate with federal immigration authorities that might arrest or deport illegal immigrants.

    Abbott has said his busing strategy has shone a spotlight on the hypocrisy of sanctuary cities that balk at the prospect of having to actually take, and share responsibility for, illegal immigrants.

    In May, Adams began trying to relocate some illegal immigrants from New York City to neighboring areas of New York, with a commitment to cover the costs of their shelter, food, counseling, and other services for up to four months. Many of these neighboring communities have rejected the relocation efforts, even issuing emergency declarations to block Adams’ administration from busing illegal immigrants to their communities.

    Earlier this month, the Adams administration filed a lawsuit against 30 New York counties, seeking a court order overriding any emergency orders blocking his efforts to move illegal immigrants to those neighboring communities.

    Adams has also called on President Joe Biden’s administration to provide New York City with more federal funding for its shelter system. In a May 21 interview with CBS News, host Margaret Brennan noted the federal government has pledged about $30 million in assistance to deal with the influx, but Adams insisted his city’s shelter expenses would far exceed that level of federal support.

    We’re projected to spend close to $4.3 billion, if not more. This estimate was based on a number of migrants coming to the city, and those numbers have clearly increased,” Adams said. “When you look at the price tag, $30 million comes nowhere near what this city is paying for a national problem.”

    Tyler Durden
    Fri, 06/30/2023 – 20:20

  • A Coup Within The World's Largest Nuclear Power? Sounds Good To The Biden Admin
    A Coup Within The World’s Largest Nuclear Power? Sounds Good To The Biden Admin

    Submiited by Liam Cosgrove,

    Whether or not what transpired over the weekend was a legitimate coup attempt or strategic theater by Wagner leader Yevgeny Prigozhin, it was understood by the western press and US government to be an attempted coup. This article will operate under that assumption to scrutinize the first-order thinking displayed by many hawkish pundits and Biden officials.

    There were reports that Prigozhin occupied — in under 24 hours — Rostov-on-Don on Saturday. This city is the headquarters for Russia’s Southern Military District. Just 60 miles from the border of this district is the Engels-2 airbase, home to several long-range nuclear bombers. Considering the proximity between these nukes and Russia’s most notorious mercenary, this should have been a wake-up call to the Biden administration.

    Still, at Monday’s State Department briefing, the administration seemed unphased if not a little pleased by the coup:

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

    The reaction came just one week after President Biden warned a group of California donors that the threat of Putin using a nuclear bomb is “real.” Prigozhin’s main gripes with Russia’s top military brass is that they haven’t been aggressive enough in their fight, saying earlier this year that his mercenary group would not be taking any more prisoners of war and would instead “kill everyone on the battlefield.”

    This man could have commandeered part of the Russian nuclear arsenal over the weekend… and that’s a good thing?

    While State Department Spokesman Matthew Miller withheld his excitement, other “experts” were not so coy. Stanford professor and former US ambassador to Russia Michael McFaul celebrated the chaos over the weekend, saying it proved that the West should get even more aggressively involved in the war:

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

    This really sums up the neocon mindset. After miraculously averting what could have been an existential crisis (civil war in a country with 6,0000 nuclear warheads) and with minimal bloodshed, McFaul’s instinctual emotional response is not gratitude and relief but greed and self-assurance, which he immediately uses to further his interventionist dogma. Like someone with a gambling addiction, he thinks: Great, I didn’t lose on that hand. Surely I can win a couple more while I’m hot.

    Here was the analysis of ”no comment” Paul Massaro from the The Commission on Security and Cooperation in Europe:

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

    This reaction may take the cake. It’s Peter Ziehan — the guy whose appeal is his ability to discuss geopolitics with the factual rigor and vocal inflections of a gossiping housewife — calling the coup “delicious”:

    I cannot not sum up the establishment’s reaction to the weekend’s events any better than venture capitalist David Sacks, whose long-form tweet from Saturday evening I’ll include in full below:

    What’s better: negotiated peace or nuclear chaos?

    It looks like the crisis in Russia is abating after many premature predictions, dunks, and celebrations. We’ve come to expect such behavior from mids like Kinzinger, but the participation of so many more serious American policy makers and influencers shows the extent to which they have lost perspective.

    They expressed glee over the possibility of a coup in the world’s largest nuclear weapons state by a warlord whose main gripe is that Russia has not prosecuted the war vigorously enough, who advocates full mobilization and total war, and is more likely to countenance nuclear use.

    I can understand why Ukrainian nationalists — who are desperate to win the war in light of a counteroffensive that even CNN admitted yesterday is thus-far failing — would be willing to roll the dice and root for chaos and civil war in Russia. But for American leaders to do so shows that they have lost any conception of a distinct American national interest.

    What the last 24 hours have underscored is that wars are not just incredibly destructive but also incredibly unpredictable. I continue to maintain that it was in the best interest of the United States to avoid this by supporting the Istanbul deal. It would have cost us nothing except an agreement not to add Ukraine to NATO. In fact, this would not have been a cost but a benefit, saving ourselves from the insanity of committing American boys & girls to fight Russia one day on Ukraine’s behalf.

    Now the war seems likely to enter an even more desperate stage for both Russia and Ukraine. Is this what we want? History proves that things can always get worse. ISIS was worse than Saddam, Lenin was worse than the Tsar, and Prigozhin could have been worse than Putin. Do we want to keep rolling the dice? Or do we want to figure out how to bring the killing to an end?

    Tyler Durden
    Fri, 06/30/2023 – 20:00

  • We Are All Chinese Now
    We Are All Chinese Now

    By Russell Clark, author of the Capital Flows and Asset Markets substack

    When I managed money, I never worried too much about politics or politicians. I didn’t even bother with central bankers much either (can you imagine!). They would always promise inflation – but were never able to deliver it. There was one big exception to this, which was China.

    Whatever the Chinese government said it was going to do, it generally did. But even then, I thought ultimately Chinese policymakers would eventually succumb to free market forces, particularly in terms of the exchange rate – but here I was wrong. A closed capital account, and control of the banking system has made Chinese Yuan exchange rate a policy choice as well. For equity investors, the clearest example of Chinese policy affecting assets is China deciding that “big tech” had too much power and needed to have its wings clipped. The difference in performance gets starker every day.

    What I originally thought was that Chinese changes in policy would act as an example for the rest of the world. That China would lead a worldwide swing against pro-capital policies to pro-labour policies. We have seen that to a degree – and certainly I think inflation and interest rates are going to go higher. My favourite trade, Long GLD and Short TLT still appeals to me.

    But what I am seeing in currency markets suggest government policy is having a greater effect on assets markets everywhere. Ever since Nixon left the gold standard, generally the world has been moving to free floating exchange rates, determined by market forces. And this force was by and large irresistible – where nations like Mexico, Argentina, Thailand, Korea, Malaysia all eventually forced to free floating exchange rates – and ultimately devalued. Japan had the opposite problem where it spent years trying to devalue, but could not. That has changed in recent years. One traditional very safe trade in currency world was to short the Mexican Peso vs the US dollar. It had a fairly consistent trend of moving sideways for a number of years, and then devaluing to a new lower level, and never recapturing its old value. True to form, Mexico devalued during Covid, but has been appreciating ever since. From a low of 25 Peso to the US dollar during Covid, it now at 17 Peso to the dollar. The Peso has strengthened against the US dollar in an era of US dollar strength. It has also achieved this in a period of relative commodity weakness, which historically has been bad for the Peso.

    The corollary to the unexpected strength of the Peso, and been the sustained weakness in the Yen. This was for many years, the antithesis of the Peso. Bouts of yen strength, that then proved difficult to reverse, but moving ever stronger versus the US dollar. Last two years, the Yen has weakened significantly.

    On a pure macro view, with Japan and commodity importer, and Mexico a commodity exporter, I would have expected the Yen to strengthen against the Peso, given the weakness in oil prices. I would have been wrong.

    A better way to analyse the Mexican peso and the Yen would have been politically. The President of Mexico, Andres Manuel Lopez Obrador (AMLO) is definitely a president on the left – favouring labour over capital. In my view, pro-labour governments push for rising wages, and rising interest rates to preserve the buying power of the exchange rate. Bank of Mexico interest rate policy is about as far away as you can get from the QE addicted Western World.

    But interest rate policy is not the only factor here. Tariffs on Chinese goods means that a “strong peso” policy can be followed without the risk of factories being relocated to Asia. That is China-US conflict is allowing “left wing” policy makers to adopt pro-labour policies. You are also see many manufacturers are investing into Mexico as an insurance policy on a US-China conflict. Japan does not have this benefit, making the Yen/Peso divergence easier to understand. When we add in the Russia’s invasion of Ukraine, and the negative effect that has on Europe, we can also understand the huge strength of the Peso versus the Norwegian Kroner. Every macro indicator would suggest to own Norwegian Kroner over Mexican Peso (NIIP, Foreign Reserves, CPI etc) – but that would be the wrong trade this year.

    Just like China, investors need to pick political winners, not just in equities, but in currency markets too.

    Tyler Durden
    Fri, 06/30/2023 – 19:40

  • Pornhub Blocks Virginia-Based IP Addresses Ahead Of New Age Law 
    Pornhub Blocks Virginia-Based IP Addresses Ahead Of New Age Law 

    Virginia is the latest state to adopt an age-verification law, known as SB 1515 and proposed by Republican state Sen. William M. Stanley Jr., for the internet’s biggest adult websites, including Pornhub. Even before the law went into effect on Saturday, Pornhub blocked users in the state. 

    Users with Virginia-based IP addresses are no longer able to browse the world’s most trafficked porn site. According to The Virginian-Pilot, users are greeted with this message: 

    “As you may know, your elected officials in Virginia are requiring us to verify your age before allowing you access to our website.

    “While safety and compliance are at the forefront of our mission, giving your ID card every time you want to visit an adult platform is not the most effective solution for protecting our users, and in fact, will put children and your privacy at risk.”

    The statement continues and says the new law doesn’t properly enforce the age verification requirement. Pornhub offered a solution to protect children: “Identify users by their device and allow access to age-restricted materials and websites based on that identification.”

    “As we’ve seen in other states, [requiring ID] just drives traffic to sites with far fewer safety measures in place. Very few sites are able to compare to the robust Trust and Safety measures we currently have in place,” the statement reads, adding, “To protect children and user privacy, any legislation must be enforced against all platforms offering adult content.”

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

    “Until a real solution is offered, we have made the difficult decision to completely disable access to our website in Virginia,” wrote Pornhub. 

    … and this is certainly not going to be well received by Virginian users. Blocking access to Pornhub might result in enough angry phone calls and emails to Gov. Glenn Youngkin’s office. 

    However, a spokeswoman for the governor told media outlet WRIC that they stand behind the new law: 

    “The governor remains committed to protecting Virginia’s children from dangerous material on the internet.” 

    According to Free Speech Coalition, a non-profit adult industry trade association, its ‘Age Verification Bill Tracker‘ shows Louisiana had the first age requirements for adult websites that went into effect in January. Since then, a tidal wave of bills and enforcements has swept across the country. 

    The tracker shows Utah’s age requirement law went into effect on May 5, Mississippi and Virginia on July 1, Arkansas on July 31, Arizoinz (if passed) on August 1, Texas on September 1, and Montana on January 1, 2024. 

    “It’s not a matter of if these laws will be ruled unconstitutional but when,” Free Speech Coalition’s spokesperson Mike Stabile told WRIC. He noted:

    “Adult content–even material harmful to minors– is First Amendment-protected speech and the Supreme Court has ruled repeatedly that restrictions on its production and consumption face the highest legal bar: strict scrutiny.”

    Pornhub is gambling on its users, exerting enough political pressure on Youngkin’s administration to overturn the law. If unsuccessful, the company might see market share in the state dwindle to other sites.

    Tyler Durden
    Fri, 06/30/2023 – 19:20

  • California's Reparations Task Force Demands Action, Presents 1,100-Page Final Report To Governor, Legislature
    California’s Reparations Task Force Demands Action, Presents 1,100-Page Final Report To Governor, Legislature

    Authored by Travis Gillmore via The Epoch Times,

    After two years of internal discussions, public hearings, and collaboration with stakeholders, California’s reparations task force presented its final report of recommendations to the Legislature June 29.

    (L-R) State Sen. Steven Bradford, Secretary of State Shirley Weber, task force member Lisa Holder, and Assemblyman Reggie Jones-Sawyer hold up a final report of the California Task Force to Study and Develop Reparation Proposals for African Americans during a hearing in Sacramento on June 29, 2023. The report heads to lawmakers who will be responsible for turning policy recommendations into legislation. Reparations will not happen until lawmakers and Gov. Gavin Newsom agree. (AP Photo/Haven Daley)

    The 1,100-page, 4-inch document discusses policy recommendations for the Legislature to consider, and while no specific dollar amounts are proposed, formulas for calculating harms and repairs are included as guidance for lawmakers.

    The report lists five time frames to be considered for reparations dating from 1850 to the present for various harms, including unjust property takings, devaluation of black businesses, housing discrimination, mass incarceration and over-policing, and health-related issues.

    “Our descendants will be able to consult this great document and see the evidence that this state has committed crimes against black folks,” said Amos Brown, vice chair of the committee and a member of the board of directors for the National Association for the Advancement of Colored People (NAACP), during the meeting.

    “It’s time they paid their crime bill.”

    Reverend Amos Brown, the vice-chair of the reparations task force, president of the San Francisco Chapter of the NAACP, and longtime pastor of the Third Baptist Church sits for a portrait inside the sanctuary of the church, in San Francisco on June 27, 2023. (Philip Pacheco/AFP via Getty Images)

    Established with the passing of Assembly Bill 3121 in May 2021, the task force is composed of nine members, with five appointed by the governor, two by the President pro-Tempore of the Senate, and two by the Speaker of the Assembly. The panel was tasked with studying the impacts of slavery and providing recommendations for reparations to the governor and legislative branches for review.

    Payments recommended by the task force are estimated at up to $1.2 million per eligible individual, and some economists calculated the cost to the state at approximately $800 billion if the recommendations are enacted as proposed.

    Gov. Gavin Newsom has remained quiet on the topic of cash payment, saying that “reparations are about more than money” in a recent interview with Fox News, and he stressed repeatedly in a May budget press conference that prudence is required by the state during times of economic uncertainty.

    Some on the panel are anticipating pushback from the governor and legislators regarding such concerns.

    “Don’t come telling us that you don’t have the money,” said Brown, the vice chair.

    “From where I come from in Mississippi, they had what you call a layaway plan. And if you can’t pay it because of deficits, deficits don’t last always.”

    The state is currently facing a $32 billion budget deficit, which its Legislative Analyst’s Office has said could grow significantly in the event of a recession—which economists suggest is likely to occur later this year.

    California Gov. Gavin Newsom announces the May budget revision in Sacramento on May 12, 2023. Newsom said the state’s budget deficit has grown to nearly $32 billion, about $10 billion more than predicted in January when the governor offered his first budget proposal. (Hector Amezcua/The Sacramento Bee via AP)

    With a $311 billion spending package set for the fiscal year beginning July 1, the recommended reparation payments represent more than two and a half times the state’s annual budget.

    Support for the task force at other public hearings and today’s—with elated members of the audience erupting into boisterous applause and impromptu singing on occasion—has been broad and virtually unanimous, but a recent poll conducted by the Public Policy Institute of California, an independent, nonprofit research institution based in San Francisco, suggests that sentiment across the state is divided, with only 43 percent saying they approve of the task force recommendations such as reparations.

    Legislators will now be tasked with reviewing the information, and if deemed applicable, to create a package of bills to address the recommendations.

    “The final report is not the end of the work. It’s really just the beginning,” Sen. Steven Bradford (D-Gardena) told the audience.

    “It is now up to the Legislature, which I’m part of, and the governor, to implement it.”

    Observing that critics of the proposals note that California was never a slave state and should therefore not be subject to reparations payments, the senator said that other aspects of history need to be considered.

    “It was not a slave state in name only. Not in practice, not in deeds,” Bradford said.

    “The first governor of this state-owned slaves and was proud of it. We had a fugitive slave law that returned slaves,” after they fled from other states.

    People listen to the California reparations task force, a nine-member committee studying restitution proposals for African Americans, at a meeting at Lesser Hall in Mills College at Northeastern University in Oakland, Calif., on May 6, 2023. (Sophie Austin/AP Photo)

    Talking directly to critics that say they should not have to pay for acts committed centuries ago, he questioned their perspective.

    “If you can inherit generational wealth, you can inherit generational debt,” Bradford said.

    “And this is a debt that is owed.”

    Fellow lawmaker and task force member Assemblyman Reginald Jones-Sawyer (D-Los Angeles) echoed his colleague’s commitment to seeing the recommendations transformed into legislative action.

    “Next year we will move with legislative and budget ideas to make it happen,” he said in his final remarks on the report.

    Don Tamaki, a task force member and attorney, recognized the thousands of hours of commitment from the Department of Justice and staff that assisted in producing the voluminous document.

    “The amount of research and writing that went into this is breathtaking,” he said during the hearing. “This is going to resonate nationally.”

    A Reparations Task Force meeting is held online in California on Sept. 23, 2021. (Screenshot via California Reparations Task Force)

    Speakers repeatedly thanked California Secretary of State Shirley Weber—who authored the bill in 2020 that led to the task force’s creation when she was an Assemblywoman—for her vision, and Vice Chair Brown personally presented her with a copy of the report.

    “There’s tremendous wealth in this,” she told the crowd upon receiving her copy of the final report.

    “I am so pleased with the document because it answers every question.”

    Weber’s daughter, Assemblywoman Akilah Weber (D-San Diego)—now occupying her mother’s former seat—spoke about the honor she felt at representing the people in attendance, while making one of many comments throughout the day about the encyclopedic size of the report.

    “It is long because the harms are long,” she told the crowd at the hearing.

    “But this report is phenomenal.”

    While an electronic version is available online, one committee member suggested sending a hard copy of the recommendations to all lawmakers, saying its physical presence is impactful.

    “I suggest we buy a copy for every member of the Legislature,” said Isaac Bryan (D-Los Angeles).

    “California needs to feel that weight. It weighs a pound of flesh. It weighs 400 years.”

    The state’s Attorney General Rob Bonta was on hand to receive his copy of the final report, and he assured the task force and audience that his staff will continue to work toward achieving the goals outlined in the recommendations.

    “Reparations are warranted, they are necessary, and they are needed,” he said. “Reparations are our way forward. Solutions must be thoughtful, meaningful, and enduring.”

    Recognizing the unprecedented nature of the proposals, Bonta said he hoped that the work of the task force will lead to a nationwide discussion.

    “California doing what we so often do,” he told the audience.

    “Being first, being bold, being courageous, and bringing solutions to complicated problems.”

    The California state capitol building in Sacramento on March 11, 2023. (John Fredricks/The Epoch Times)

    Members of the state’s legislative Black Caucus spoke about their intention to work together with fellow lawmakers to craft bills that can successfully navigate the Legislature.

    “We can and must act on these recommendations,” Assemblywoman Tina McKinnor (D-Inglewood) said during the hearing.

    “The future of our nation depends on us.”

    With some pointing to the price tag as an obstacle to progress for reparations payments, proponents say that with one-half of one percent set aside from the annual budget, it could make fiscal sense, though critics have questioned the mathematical possibility of such a plan.

    “Let’s be clear and honest. The cost of reparations will be high, but make no mistake, the harms that are done are just as high,” said Bradford, the task force member and senator. “No one asks how we pay for high-speed rail, which many in the Legislature say is a train to nowhere.”

    Tyler Durden
    Fri, 06/30/2023 – 19:00

  • Shellenberger: "Escape The Woke Matrix"
    Shellenberger: “Escape The Woke Matrix”

    Michael Shellenberger gave a must-watch keynote address to the students and faculty of the University of Austin this week, titled “Escape The Woke Matrix.”

    In it, he argues that Western civilization is being rapidly taken over by a psychopathological religion, and that we must resist it by exposing it for what it is, and re-grounding our institutions in love of humanity, civilization, and freedom.

    Shellenberger’s work covers a wide range of topics, but a common theme is the distortion of history and censorship benefiting the powerful.

    In this emotional address, Shellenberger discusses the negative effects of censorship, rewriting history, and the power dynamics it serves.

    He highlights disparities between the real-world and the one we are delivered by authorities and ‘experts – pointing out the decline in deaths from natural disasters and the fact that police killings in the US, including those of African-Americans, have declined over the years – among others, emphasizing the need for seeking out accurate information.

    Shellenberger criticizes the selective disinformation campaigns and censorship surrounding topics like COVID-19, vaccines, and the Hunter Biden laptop; and argues that society is moving towards a new moral order centered around race, victimhood, and identity politics, creating a culture of entitlement and grandiosity.

    Finally, Shellenberger points out the presence of narcissistic and psychopathic behavior in positions of power, calling for courage in confronting these cluster B personality types and emphasizes personal responsibility, optimism, and the need to fight for positive change while avoiding toxic ideologies.

    As Shellenberger writes at his Public Substack:

    You can hear the emotion in my voice. The global crackdown on free speech has left me feeling angry and afraid. Despite my emotional state, or perhaps because of it, the students gave me a standing ovation at the end.”

    “It’s not enough to condemn, we must also seek to understand, and explain. We are going toe-to-toe with an opponent that would put us in prison for wrongthink. We must stand up to their bullying, and break their hyponotic trance over the population. That is how we will escape from the woke matrix.”

    Watch the full address here…

    Subscribers to Michael’s Substack can read the full report here…

    Tyler Durden
    Fri, 06/30/2023 – 18:40

  • Hundreds Of 'A-List' Actors Threatening To Join Hollywood Writers On Strike
    Hundreds Of ‘A-List’ Actors Threatening To Join Hollywood Writers On Strike

    Authored by Alice Giordano via The Epoch Times (emphasis ours),

    A group of 300 A-list Hollywood celebrities—including Ben Stiller, “Hunger Games” Jennifer Lawrence, Meryl Streep, Liam Neeson, Kevin Bacon, and Julia Louis-Dreyfus—is threatening to take industrial action if their demands on key issues are not met.

    SAG-AFTRA President Fran Drescher speaks onstage during the 29th Annual Screen Actors Guild Awards at Fairmont Century Plaza in Los Angeles, Calif., on Feb. 26, 2023. (Kevin Winter/Getty Images)

    They include better protection against artificial intelligence (AI) celebrity cloning, a “seismic realignment” in minimum pay, an increase in media residuals, and better health and pension terms.

    The celebrities submitted a letter on June 28 to the Screen Actors Guild—American Federation of Television and Radio Artists (SAG-AFTRA) stating their claims. 

    “As regards [to] artificial intelligence, we do not believe that SAG-AFTRA members can afford to make halfway gains in anticipation that more will be coming in three years, and we think it is absolutely vital that this negotiation protects not just our likenesses, but makes sure we are well compensated when any of our work is used to train AI,” the actors wrote.

    The letter, which was provided to The Epoch Times by a union member, comes just days before the June 30 deadline for SAG-AFTRA to negotiate a new contract for the actors with the Alliance of Motion Picture and Television Producers (AMPTP).

    It also comes amid the Writers Guild of America (WGA) strike against the alliance. Like the actors, the guild has also cited concerns about the infringement of artificial intelligence on the industry and consequently their pay. 

    SAG-AFTRA—including its executive director and chief negotiator Duncan Crabtree-Ireland, and president Fran Drescher, famous for her role on the 1980’s sitcom “The Nanny”—did not respond to inquiries about the strikes from The Epoch Times.

    Maddie (Jennifer Lawrence) in “No Hard Feelings.” (Columbia Pictures/Sony Pictures Releasing)

    Days before the actors submitted their letter to them, Crabtree-Ireland and Drescher released a video in which they assure actors that they were being properly represented in contract renewal talks.

    We’re not providing you with a lot of detailed reports tonight, because … it’s very confidential what’s going on in there,” said Drescher. “But I just want to assure you that we are having extremely productive negotiations that are laser-focused on all the crucial issues that you told us were most important to you.

    “And we are standing strong and we are going to achieve a seminal deal.”

    Crabtree-Ireland said he remained optimistic that the union negotiating team “will be able to bring the studios, networks, and streamers along to make a fair deal that respects union members and their “contribution to this industry.” 

    In their letters, the actors said they felt otherwise. 

    “A strike brings incredible hardships to so many, and no one wants it,” read the letter addressed to the union leadership and negotiating committee. “But we are prepared to strike if it comes to that. And we are concerned by the idea that SAG-AFTRA members may be ready to make sacrifices that leadership is not.”

    Other well-known celebrities threatening to strike include Brendan Fraser, Maya Hawke, Lesley Ann Warren, Marisa Tomei,  Rosie O’Donnell, Neil Patrick Harris, Tea Leoni, Glenn Close, Jane Fonda, Minnie Driver, Tim Daly, Debra Messing, Eva Longoria, Quinta Brunson, Dave Franco, Noah Wyle, and J. Smith Cameron.

    Read more here…

    Tyler Durden
    Fri, 06/30/2023 – 18:20

  • Russian Oil Exports From Western Ports To Tumble 18% In July
    Russian Oil Exports From Western Ports To Tumble 18% In July

    Is the flood of Russian oil finally tapering?

    Following several months of record-busting flows, Eikon data showed on Wednesday that Russia’s seaborne oil exports from the ports of Primorsk, Ust-Luga and Novorossiisk will fall to 1.9 million barrels per day (bpd) in July from 2.3 million bpd in June as domestic refineries increase runs, and – perhaps – as Russia finally decides to comply with its self-imposed output cut.

    On a daily basis oil loadings from Russia’s western sea outlets are set to decline 18% in July compared to June, Reuters calculations showed. Russia’s oil exports are curbed by higher oil processing by domestic refineries along with frozen oil production under OPEC+ agreement and additional cuts pledged by Russia.

    Lower loadings expected in July have already supported Urals oil differentials in ports of India – the main buyer of the grade.

    Urals and Kazakhstan’s transit oil (KEBCO) loadings from Baltic ports of Primorsk and Ust-Luga were set at 5.6 million tonnes, down from 6.5 million tonnes planned for June.

    Urals, KEBCO and Siberian Light oil loadings from Black Sea’s Novorossiisk were planned at 2.4 million tonnes in July, down from 2.9 million tonnes in June.

    Russian refineries cut runs during spring months allowing state exports to reach a 4-year record in May. After works ended in June exports started to slide.

    The sharp drop in exports comes after Russian crude oil flows to international markets have largely continued to grow unabated, with no substantive sign of the output cuts that the Kremlin insists the country is making. Four-week total average seaborne shipments, which smooth out some of the volatility in weekly numbers, edged higher in the period to June 4, rising to 3.73 million barrels a day from a revised 3.68 million in the period to May 28, according to Bloomberg.

    At the start of the month, flows to international markets were more than 1.4 million barrels a day higher than they were at the end of last year — more than can be accounted for by the diversion of pipeline flows or lower refinery runs. Shipments have also risen since February, the baseline month for the pledged production cut.

    Following the recent OPEC+ decision to cut output, Moscow’s OPEC partners have sought clarity and transparency from Russia on the country’s crude production. They noted that Moscow has made a commitment to accept reassessment of February’s production level by OPEC’s secondary sources. The assessment by those seven companies currently stands at 9.83 million barrels a day.

    However, there has been precious little evidence that the 500,000 barrels a day of Russian export cuts have been made. Moscow has cited the diversion of crude previously piped to Germany and Poland through the Druzhba pipeline as a reason for robust shipments; but that switch happened in January and February, before the output cut was due to come into effect. Flows of Russian crude through the pipeline, now limited to deliveries to Hungary, Slovakia and the Czech Republic, have been stable at about 240,000 barrels a day since February.

    And while Russian refineries cut their crude processing in the first part of May, runs recovered in the final week of the month, rising by about 180,000 barrels a day from the previous seven days. Despite the dip in refinery runs there is no sign of a corresponding drop in overseas shipments of refined products.

    Meanwhile, Russia’s revenues from oil are still being hit hard, despite robust overseas flows. May’s budget proceeds from oil taxes plunged 31% from a year ago to 426 billion rubles ($5.2 billion), according to Bloomberg calculations, largely the result of a sharply lower oil price.

    Ironically, to boost oil-related revenues, Russia may have no choice but to sharply reduce its output if only to spook speculators and spark a short squeeze which lasts longer than the one in April. Then again, the moment Russia resumes exporting at full blast, the price will drop again until such time as Beijing finally admits that it needs to launch a massive fiscal stimulus which reboots the country’s economy. And with youth unemployment already at a record 20%, and potentially jeopardizing the one thing that Beijing cares about the most – social stability – that day isn’t too far away.

    Tyler Durden
    Fri, 06/30/2023 – 18:00

  • Gold Vs. Bitcoin Vs. CBDCs
    Gold Vs. Bitcoin Vs. CBDCs

    Authored by Nick Giambruno via InternationalMan.com,

    International Man: For over 2,500 years, gold has been mankind’s most enduring money.

    However, with the emergence of Bitcoin there is a new hard money option.

    How do you see the two as governments worldwide continue to engage in rampant currency debasement and are rolling out central bank digital currencies (CBDCs)?

    Nick Giambruno: First, I am all for free-market competition in money.

    I say let the best money win.

    Having a handle on the basics is crucial to understand what is happening here.

    Money is a good, just like any other in an economy. And it isn’t a complex notion to grasp.

    It doesn’t require you to understand convoluted math formulas and complicated theories—as the gatekeepers in academia, media, and government mislead many folks into believing.

    Understanding money is intuitive and straightforward.

    Money is simply something useful for storing and exchanging value. That’s it.

    The way I see it, three primary monetary goods are competing against each other today: Bitcoin, gold, and fiat currency.

    Fiat currency is currently the dominant form of money in the world.

    But that status is fleeting as central banks are debasing their currencies at breathtaking speed.

    CBDCs are a desperate, last-ditch effort to keep the fiat currency scam going—a Hail Mary.

    To escape the collapsing fiat system and CBDC enslavement, many millions—soon billions—of people are turning to monetary alternatives like gold and Bitcoin.

    Fiat currency is a fraud of historic proportions that causes incomprehensible damage. So I am rooting for both gold and Bitcoin in this three-way war for monetary supremacy.

    International Man: Can you explain Bitcoin’s monetary qualities?

    Nick Giambruno: Bitcoin shares many of gold’s monetary characteristics. They’re both durable, divisible, consistent, convenient, scarce, and most importantly, “hard assets.”

    “Hardness” does not mean something that is necessarily tangible or physically hard, like metal. It means “hard to produce.” By contrast, “easy money” is easy to produce.

    The best way to think of hardness is “resistance to debasement,” which helps make it a good store of value—an essential function of money.

    The most important characteristic of a good money is that it is credibly “hard to produce.”

    All other monetary characteristics are meaningless if the money is easy for someone to produce.

    Like gold, Bitcoin does not have counterparty risk.

    In other words, Bitcoin and gold are the only primarily monetary assets that aren’t simultaneously someone else’s liabilities.

    Gold has established itself as money over thousands of years. Bitcoin is a new and emerging money.

    Bitcoin is like hard money with a call option based on its further monetization, which is an excellent bet.

    A lot more can be said on this topic, but this sums up the essential points.

    International Man: What about CBDCs?

    Nick Giambruno: Despite all the hype, CBDCs are nothing but the same fiat currency swindle on steroids.

    It’s doubtful CBDCs can save otherwise fundamentally unsound currencies—as I believe all fiat currencies are.

    If the current fiat system is not viable, then CBDCs are even less viable as they enable the government to engage in even more currency debasement.

    Would a CBDC have saved the Zimbabwe dollar, the Venezuelan bolivar, the Argentine peso, the Lebanese lira, or the Nigerian naira?

    I don’t think so. And a CBDC won’t save the US dollar or the euro from their fates either.

    There are a lot of bad things that come with CBDCs. But there’s a silver lining…

    CBDCs are going to introduce and familiarize people with using digital currencies. It’s then only then a matter of time before they discover Bitcoin.

    CBDCs and Bitcoin share some characteristics.

    For example, they are both digital and facilitate fast payments from a mobile phone. But that is where the similarities end.

    The reality is that CBDCs and Bitcoin are entirely different in the most fundamental ways.

    You need the government’s permission and blessing to use a CBDC, whereas Bitcoin is permissionless.

    Governments can (and will) create as many CBDC currency units as they want. With Bitcoin, there can never be more than 21 million, and there is nothing anyone can do to inflate the supply more than the predetermined amount in the protocol.

    CBDCs are centralized. Bitcoin is decentralized.

    Governments can censor transactions and freeze, sanction, and confiscate CBDC units whenever they want. Bitcoin is censorship-resistant. No country’s sanctions or laws can affect the protocol.

    There is no privacy with CBDCs. However, with Bitcoin, if you take specific steps, it is possible to maintain reasonable privacy.

    CBDCs are government money that are easy to produce and give politicians a terrifying amount of control over people’s lives. On the other hand, Bitcoin is non-state hard money that helps liberate individuals from government control.

    In short, CBDCs are a pathetic attempt to compete with Bitcoin.

    CBDCs make an inferior form of money even worse, but at the same time, they are an excellent Trojan Horse for Bitcoin.

    It doesn’t take much imagination to see that once governments inevitably inflate their CBDC units, censor transactions, freeze people’s accounts, and confiscate funds, it will push people to look for better digital alternatives, first and foremost Bitcoin.

    That’s how, contrary to conventional wisdom, CBDCs could be an enormous catalyst for Bitcoin adoption.

    International Man: Couldn’t governments simply ban Bitcoin?

    Nick Giambruno: Bitcoin threatens a major source of the government’s power—the power to create fake money out of thin air and force everyone to use it. There’s no question they’ll try to protect this racket from Bitcoin. The question is whether they’ll be successful.

    Remember, the powerful Chinese government has banned Bitcoin numerous times with little to no long-term effects as adoption grows.

    That’s because it’s entirely impractical for governments to ban Bitcoin. They’re no match for the economic incentives that attract millions—soon billions—of people, and increasingly, corporations, and even nation states to a harder and superior form of money.

    Further, all aspects of Bitcoin are genuinely decentralized and robust. The best that governments can do is play an endless game of global whack-a-mole.

    Governments in Argentina and Venezuela have laws restricting their citizens from accessing US dollars. However, these laws have little effect on their citizens’ desire and ability to use them. These actions just create a thriving black market, or, more accurately termed, a free market.

    Similarly, governments have tried to ban cannabis for decades, which hasn’t worked out very well for them.

    Bitcoin would be infinitely more challenging for governments to ban than US dollars or a plant.

    I would like to see governments try to ban Bitcoin because they’ll fall flat on their faces.

    It’s doubtful any government will be more successful in banning it than the Chinese government was.

    A failed attempt to ban Bitcoin will reinforce its value proposition as a superior form of money nobody controls.

    International Man: Where do you see the Bitcoin price going?

    Nick Giambruno: What we have with Bitcoin is an entirely new asset that millions worldwide are adopting as money because of its superior monetary properties, namely its total resistance to debasement.

    The monetization of the new monetary good is genuinely unlike anything anyone alive has ever seen.

    It took gold centuries to achieve monetization. Bitcoin has a good chance of undergoing monetization in a much shorter period.

    The market cap for Bitcoin today is around $600 billion.

    The market cap for all the mined gold in the world, which took thousands of years to accumulate, is about $12.7 trillion.

    That means Bitcoin has a market cap roughly equal to 5% of gold’s and is already well on its way to monetization.

    Assuming gold stays flat and Bitcoin goes up 20x, it would have a market cap roughly equal to gold. At that point, a single Bitcoin would be worth over $620,000. I think that’s a real possibility in the next ten years, though it could happen much sooner.

    If that sounds outrageous, consider this…

    Ten years ago, the Bitcoin price was around $100. Today, it’s roughly 310x that.

    Bitcoin has made numerous breathtaking moves to the upside in the past. I think it can do it again, especially as corporations, institutional investors, and even nation states start buying Bitcoin for the first time. Of course, it’s important to remember that past performance does not indicate future results for any investment.

    Here’s the bottom line.

    Few people are aware of what is really happening with Bitcoin.

    And even fewer know how to prepare.

    That’s why I’ve just released an urgent PDF report revealing three ways you can do that.

    Check it out as soon as possible because it could soon be too late to take action. Click here to get it now.

    Tyler Durden
    Fri, 06/30/2023 – 17:40

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Today’s News 30th June 2023

  • Germany's Ruling SPD Party Ready To Talk WWII Reparations With Poland
    Germany’s Ruling SPD Party Ready To Talk WWII Reparations With Poland

    Authored by Olivier Bault via Remix News,

    Germany’s ruling Social Democrats (SPD) are ready to “solve” the issue of war reparations with Poland, according to Arkadiusz Mularczyk, the Polish deputy foreign affairs minister in charge of the issue of war reparations, who spoke to Remix News’ Olivier Bault during a meeting in Warsaw yesterday.

    Mularczyk was informed that in the Olaf Scholz-led coalition government, the SPD at least “understands the problem and wants to solve it in some way in a formula of dialogue with Poland.”

    Scholz himself belongs to the SPD, and the German party’s agreement that the issue needs to be addressed could mark a major turning point in the ongoing reparations saga. Poland made headlines in 2022 when it estimated Germany owed Poland up to €1.5 trillion due to material and humanitarian losses during the Second World War; however, Germany has dismissed the claims in the past.

    During the interview with Mularczyk, which we will soon publish in full regarding the “Report on the Losses Sustained by Poland as a Result of German Aggression and Occupation During the Second World War” and the accompanying demands from Germany for financial compensation estimated at 6.6 trillion zlotys, which equates to €1.4-1.5 trillion euros, Mularczyk said:

    “There was a series of meetings with German MPs, in Warsaw, with MPs of the Polish-German friendship group, but also in Berlin, with a number of German parliamentarians. The largest was a meeting at the German Council on Foreign Relations, DGAP, where there was a group of at least a dozen parliamentarians. Recently, I sent a letter to all members of the Bundestag and Bundesrat on this issue, and you will be the first to know that I’ve just received a thank you from the Coordinator of German-Polish Intersocietal and Cross-Border Cooperation at the Federal Foreign Office in the coalition government of Chancellor Olaf Scholz, Dietmar Nietan, writing on behalf of the SPD, that they understand the problem and want to solve it in some way in a formula of dialogue with Poland and also with me.”

    Although it is unclear how far the dialogue will go, Germany has stated in the past that the matter of reparations to Poland is “settled.” However, Poland has pressed the issue, using a variety of diplomatic and political means to force Germany to address Poland’s catastrophic losses during the Second World War.

    After Germany signaled it would not pay reparations, Mularczyk stated in 2022:

    “Now, Germany has a choice: Either it sits down with Poland at the negotiating table, or we will raise the issue in all international forums — in the UN, in the Council of Europe and in the European Union.”

    In December 2022, Mularczyk stated that he had appealed to the secretary general of the Council of Europe for assistance with Poland’s reparations claim for damages incurred by Germany during the Second World War.  At that time, Mularczyk stated that Germany had so far refused to engage in a discussion about compensation.

    In the past, Germany has pointed to the 1953 agreement with Poland’s then communist rulers, who relinquished all reparation demands due to pressure from the Soviet Union, which wanted to free East Germany from liabilities.

    However, Poland contends that the agreement is invalid because Poland never received fair compensation and because it was made under duress. Additionally, says Mularczyk, there is no official document or bilateral agreement confirming the Polish communist government’s decision to relinquish all reparation demands, nor was such a decision published in the official bulletin of the Polish People’s Republic at that time.

    Tyler Durden
    Fri, 06/30/2023 – 02:00

  • Escobar: What Happens In Russia After 'The Longest Day'?
    Escobar: What Happens In Russia After ‘The Longest Day’?

    Authored by Pepe Escobar via The Cradle,

    Following Wagner’s ‘rebellion’ – which was nothing more than a blatant coup attempt, and a PR stunt demonstrated by Prighozin’s top-notch theatrics – NATO and the Collective West’s excitement over the possibility of Russia descending into chaos and civil war were quickly turned into utter disappointment.

    The first draft of the extraordinary events that took place in Russia on The Longest Day – Saturday, June 24 – leads us to a whole new can of worms.    

    The Global Majority badly wants to know what happens next. Let’s examine the key pieces in the chessboard.

    Foreign Minister Sergei Lavrov is cutting to the chase: he has reminded everyone that the Hegemon’s modus operandi is to back coup attempts whenever it can benefit. This dovetails with the fact that the FSB is actively investigating whether and how Western intel was involved in The Longest Day.

    President Putin could not have been more unequivocal: 

    “They [the West and Ukraine] wanted Russian soldiers to kill each other, so that soldiers and civilians would die, so that in the end Russia would lose, and our society would break apart and choke on bloody civil strife (…) They rubbed their hands, dreaming of getting revenge for their failures at the front and during the so-called counter-offensive, but they miscalculated.” 

    Cue to the collective West – from Secretary of State Anthony Blinken on down – frantically trying to distance itself even as the CIA leaked, via its trademark mouthpiece, the Washington Post, that they knew about “the rebellion.” 

    The agenda was painfully obvious: Kiev losing on all fronts would be ritually buried by wall-to-wall coverage of the fake Russian “civil war.”

    There’s no smoking gun – yet. But the FSB is following several leads to demonstrate how the “the rebellion” was set up by CIA/NATO. The spectacular failure makes the upcoming NATO July 11 summit in Vilnius even more incandescent. 

    The Chinese, much like Lavrov, also cut to the chase: the Global Times asserted that the idea of “Wagner’s revolt weakening Putin’s authority is wishful thinking of the West,” with the Kremlin’s “strong capacity of deterrence” further increasing its authority. That’s exactly the reading of the Russian street.  

    The Chinese reached their conclusion after a crucial visit by Deputy Minister of Foreign Affairs Andrei Rudenko, who promptly flew to Beijing on Sunday, June 25. This is how the iron-clad strategic partnership works in practice.  

    “The rebellion” as a P.R. stunt

    Arguably the best explanation so far of the nuts and bolts of The Longest Day has been offered by Rostislav Ischenko.

    The Global Majority will rejoice that Prighozin’s theatrics, in the end, left the collective West dazed, confused, and shattered: wasn’t the whole thing supposed to unleash total chaos inside Russian society and the army? 

    Even as the fake, lightning-quick “mutiny” was in progress, Russia continued to pound Kiev’s forces – which, by the way, were spinning that the main phase of the “counter-offensive” was being launched exactly on June 24 at night. That was, predictably, yet another bluff.    

    Back to the Russian street. “The rebellion” – inbuilt in a very convoluted plot – in the end was widely interpreted as just another military demonstration (by master of ceremonies Prighozin, not by the overwhelming majority of Wagner soldiers). “The rebellion” turned out to be a Western P.R. stunt, a series of (ultimately faded) pictures for global consumption.  

    But now things are bound to get way more serious. 

    Lavrov, once again, pointed to the role being played by the ever-self-aggrandized Le Petit Roi, Emmanuel Macron, right up there with the United States: “Macron clearly saw in the developments an opportunity to realize the threat of Ukraine dealing Russia a strategic blow, a mantra NATO leaders have been holding onto.”

    So just like Kiev and the collective Western media, Lavrov added, Macron remains part of a single “machine” working against Moscow. That ties up with Putin, who stated of Macron’s Sunday intervention that “the entire Western military, economic and information machine has been set in motion against us.” 

    And that’s a fact. 

    Betting on a “long-term economic blockade”

    Another fact adds to the more ominous clouds on the horizon.  

    While no one was paying attention, a mini-Congress of national security officials took place in Copenhagen exactly on the fateful 24 and 25 of June.

    They were arguably discussing “peace in Ukraine.” The chairman was none other than US National Security Adviser Jake Sullivan.  

    Present at the meeting were Brazil, Germany, the U.K., France, Italy, Denmark, India, Canada, Saudi Arabia, Turkey, South Africa, Japan, Ukraine – and the proverbial Eurocrat of the non-sovereign EU. 

    Note the G7 majority, side by side with three BRICS and two aspiring BRICS+ members.

    “Peace in Ukraine” means, in this context, the so-called 10-point “Zelensky peace plan,” which implies a total Russian strategic defeat – complete with the restoration of Ukraine within the borders of 1991 and payment of colossal “reparations” by Moscow.

    No wonder China was not part of it. Yet three BRICS – call them the weakest nodes – were there. BRICS and BRICS+ prospective members compose the six “swing states” which will be relentlessly courted and/or submitted to hardcore Hybrid Wars by the Hegemon to “behave” when it comes to Ukraine: Brazil, India, South Africa, Turkey, Saudi Arabia, and Indonesia.  

    Then there’s the 11th EU sanctions package, which is taking the economic war against Russia to a whole new level, as attested by Acting Permanent Representative to the EU, Kirill Logvinov.

    Logvinov explained how “Brussels intends to drag as many countries as possible into this war (…) There is a clear shift from a failed blitzkrieg, which was said to be aimed at causing irreparable damage to Russia, to a multi-move game with the goal of establishing a kind of long-term economic blockade against our country.”

    That’s undiluted Hybrid War territory – and the key targets are the six “swing states.” 

    Logvinov remarked how “the EU always prefers to use blackmail and coercion. Since the EU remains the biggest economic partner for many countries, as well as a source of investment and a financial donor, Brussels clearly has enough leverage to exert pressure. So, the EU’s fight against the bypassing of sanctions is expected to be lengthy and uncompromising.”

    So welcome to extraterritorial sanctions, EU-style, blacklisting companies from third countries “suspected” of re-exporting banned goods to Russia or engaged in oil trade without taking the so-called Russian oil price cap into account.

    Fun in the Belarussian sun 

    Among so many cheap thrills, what will be the next role of the main actor in The Longest Day (and even before)? And does it matter? 

    Chinese scholars are fond of reminding us that during China’s periods of turmoil – for instance, at the end of the Han and Tang dynasties – the reason was always warlords not following orders from the Emperor.  

    The Ottoman Empire’s Janissaries – their Wagner at the time – were meant to protect the Sultan and fight his wars. They ended up deciding who could be Sultan – as much as Roman Empire legionaries ended up deciding who would be Emperor. 

    Chinese advice is always prescient: Beware of how you use your soldiers. Make sure they believe in what they’re fighting for. Otherwise, they’ll turn around to bite you.

    And that leads us to Prighozin once again changing his story (he’s a specialist on the matter).  

    He’s now saying that June 23-24 was just a mere “demonstration” to express his discontent. The main objective was to prove the superiority of Wagner over the Russian Army. 

    Well, everybody knew about that: Wagner soldiers have been in combat day in, day out for over 10 years now in Libya, Syria, the Central African Republic, and Ukraine.

    And that’s why he could boast that “Wagner advanced for 700 km without meeting any resistance. If Russia had asked them to be in charge of the war from the beginning, that would have been over by the night of February 24, 2022.”

    Prighozin is also alluding to a deal with Belarus – laying extra fog of war around a possible transfer of Wagner under Belarus jurisdiction. NATO is already terrified in advance. Expect more ballooning military budgets – to be imposed at the Vilnius summit next month. 

    Camps to accommodate at least 8,000 Wagner fighters are already being built in Belarus, in the Mogilev region – according to “Vyorstka” (“Layout”). 

    The real story behind it is that Belarus, for quite a while, has been expecting a possible attack from rabid Poland.

    In parallel, as much as sending NATO into extra freakout mode, Moscow could be contemplating the opening of a new front between Lviv and Kiev.  

    Wagner in Belarus makes total sense. The Belarussian Army is not exactly strong. Wagner secures Russia’s western front. That will raise major hell on NATO – even figuratively, and force them to spend even more astronomical sums. And Wagner can merrily use airports in Belarus to pursue its – rebranded – activities in West Asia and Africa.  

    Everything that happened since The Longest Day is part of a new dramatic plot twist in a running series – way more gripping than whatever Netflix could offer. 

    Yet what the majority of Russian public opinion really seems to expect is not another farcical Ride of the Valkyrie. They expect a serious draining of the Soviet-style bureaucratic swamp, and a real commitment to get this “almost war” to its logical conclusion as quickly as possible.

    Tyler Durden
    Thu, 06/29/2023 – 23:40

  • Fentanyl Responsible For 80% Of Overdose Deaths Under 24 In US
    Fentanyl Responsible For 80% Of Overdose Deaths Under 24 In US

    Of the 296 million users of illegal drugs worldwide in 2021, 60 million were taking opioids like morphine, codeine or heroin.

    As Statista’s Florian Zandt reports, according to the latest United Nations World Drug Report, only cannabis usage is more prevalent albeit, of course, not really resulting in overdose deaths.

    As he shows in the chart below, based on CDC data, synthetic opioids like fentanyl have become associated with the majority of overdose mortality.

    Infographic: Fentanyl Responsible for 80% Of Overdose Deaths Under 24 | Statista

    You will find more infographics at Statista

    Out of the more than 106,000 registered cases of deaths by overdose in 2021, a little over 70,000 or two thirds were directly related to synthetic opioids, the most prevalent of which is fentanyl. The drug is said to be 50 times more potent than heroin and is easy and cheap to manufacture since it’s not tied to a crop base like more traditional opioids like heroin.

    The picture gets even more dire in the teenage and young adult age bracket. Here, 80 percent of the 7,426 overdose deaths can be ascribed to synthetic opioids, with the connected cases increasing almost sixfold between 2015 and 2021.

    Globally, usage of opioids has been relatively stable since 2019, with reported users even going down from 62 million in the year before the coronavirus pandemic. The global prevalence percentage stood at 1.2 for 2021, with only three regions clocking in significantly higher at percentages of 3.3 (North America), 3.2 (Near and Middle East/South-West Asia) and 2.4 (Oceania).

    The further development of usage numbers might be impacted by whether the Taliban government in Afghanistan fully enforces its drug ban enacted in 2021. According to a special UN report, opium poppy farmers generated $1.4 billion in sales in 2022 with the current crop being largely exempt from the ban and the handling of future harvests uncertain. Experts now fear that drug users might turn to more readily available synthetic opioids if the supply from the Asian country dries up. Around 80 percent of global opiate users are supplied by products manufactured from the Afghan opium poppy.

    Tyler Durden
    Thu, 06/29/2023 – 23:20

  • BRICS On The March
    BRICS On The March

    Via GEFIRA,

    More and more countries have aspired to belong to BRICS since 2009, but none from the West.

    The BRICS countries represent 40% of the world population and 25% of the global GDP.

    Thanks to BRICS, China can impose its vision of international cooperation and Russia can show that it will not be isolated on the stage of global players.

    The group is a thorn in the side of the Americans all the more so that a dozen other developing countries (marked in orange on the map below) want to join the current five countries of the alliance (red).

    Source: Silkroadbriefing

    What America certainly doesn’t like is the fact that French President Macron communicated the other day his interest in attending meetings of the alliance. France in BRICS would be a trigger for profound changes in the geopolitical landscape. We bet that Turkey can also join soon, which, like the case of France, will weaken the importance of the UN as a purely Anglo-Saxon project and that of NATO. Indeed, the BRICS countries are against the UN’s attempts to link the issues of climate with the issues of security, and France in BRICS can return to the de Gaullean concepts of foreign policy outside NATO. 

    A challenge to cohesion in BRICS is the large disparity in countries’ capacities (in favor of China) and the members’ focus on cooperation with the PRC, which results in a smaller number of relationships among the other partners. However, the main factor that has weakened the BRICS in recent years is the deterioration of relations between the largest member states, China and India, since 2017. Border and trade disputes culminated in the clashes on the Ladakh border in June 2020, which almost led to the cancellation of the BRICS summit in the same year and prompted India to deepen cooperation with the United States and the EU.

    Now, the West’s involvement in the war in Ukraine is reviving anti-Western sentiments, not only in the BRICS countries.

    Indeed, it is clear to more and more countries that the war was provoked by NATO’s excessive expansion.

    The BRICS politicians also want to fight inflation whose cause they perceive not in the Russian attack but in the Western sanctions.

    Whether you are pro-Western, pro-Russian, or in favor of the New Silk Road, it is better for all of us to live in a multi-polar world rather than to have all the strings pulled on the Potomac.

    Tyler Durden
    Thu, 06/29/2023 – 23:00

  • "Try Again": Sens Hawley, Braun Demand Biden Admin Turn Over More COVID Origins Info After Evasive Response
    “Try Again”: Sens Hawley, Braun Demand Biden Admin Turn Over More COVID Origins Info After Evasive Response

    Authored by Ryan Morgan via The Epoch Times (emphasis ours),

    Sens. Josh Hawley (R-Mo.) and Mark Braun (R-Ind.) are demanding that President Joe Biden’s administration provide more details about the origins of COVID-19 after releasing a 10-page report describing potential links between the origins of the virus and work at a Chinese virology laboratory in 2019.

    Sen. Josh Hawley (R-Mo.) speaks during a Senate Homeland Security Subcommittee on Emerging Threats and Spending Oversight on Capitol Hill in Washington on Aug. 3, 2022. (Drew Angerer/Getty Images)

    In March, Congress passed, and Biden signed a law known as the COVID-19 Origin Act of 2023 that required the Biden administration to release “any and all information” relating to potential links between the Wuhan Institute of Virology (WIV) in Wuhan, China, and the origin of COVID-19. The law set a June 18 deadline to declassify and “make available to the public as much information as possible.”

    Hawley and Braun sent a reminder letter to Biden on June 14, but his administration still missed the June 18 deadline to declassify and publicly release the COVID-19 origins documents. The Office of the Director of National Intelligence (ODNI) instead published a 10-page document (pdf) five days late on the evening of June 23.

    The 10-page document included a one-page coversheet, a one-page table of contents, and a three-page appendix of terms used throughout the report. The five remaining pages of the report stated that the WIV worked “with several viruses, including coronaviruses, but no known viruses that could plausibly be a progenitor of SARS-CoV-2.”

    The report also described how several WIV researchers fell ill in the fall of 2019 and said these researchers possessed some symptoms consistent with COVID-19 and some symptoms considered “not consistent” with COVID-19.

    The COVID-19 Origin Act calls for a full declassification, not Cliffs Notes to cover for [Dr. Anthony Fauci] and protect China,” Braun wrote in a Monday press statement.

    The report released today by the DNI is totally insufficient. The bill Senator Hawley and I passed was to ‘declassify *any and all* information relating to potential links between the Wuhan Institute of Virology and the origin of COVID-19’ including several specific requests related to researchers’ names and their activities at the Wuhan lab. Our bill was passed unanimously by a Democrat Senate and a Republican House and signed by President Biden.

    “This 9 page DNI report is 5 pages of titles and dictionary definitions, with only 4 pages of actual information, most of which is vague or already reported. The report contains no actual documents. The American people deserve the facts, not more half truths and politics,” Braun added.

    Security personnel stand outside the Wuhan Institute of Virology in Wuhan in China’s central Hubei province on Feb. 3, 2021. (Hector Retamal/AFP via Getty Images)

    ‘Failed to Comply’

    Braun and Hawley reiterated their disappointment in a letter to Avril Haines, who is Biden’s director of national intelligence.

    “[The COVID-19 Origins Act] required the Director of National Intelligence to ‘declassify any and all information’ relating to links between the Wuhan Institute of Virology and the origin of COVID-19,” the senators wrote in a letter they first shared with Fox News.

    “You failed to comply with both requirements. The deadline was June 18, 2023. Well past the statutory deadline, your office published a declassified report after business hours on June 23.”

    Braun and Hawley concluded that ODNI “obviously” has more information about the origins of COVID-19 and the WIV than the five-page summary would suggest. They also accused the Biden administration of showing deference toward China.

    “You—and the rest of the Administration—appear to be refusing to provide information about China’s role in and responsibility for the COVID-19 pandemic in order to avoid upsetting Beijing,” they wrote.

    “We invite you to try again,” the senators added. “Within 7 business days, provide to Congress documentation that fully complies with the letter of the law to disclose ‘any and all information’ related to the origins of COVID-19 and a lab leak with minimal redactions.”

    NTD News reached out to ODNI and the Biden White House for comment about Braun and Hawley’s letter, but neither office responded by the time this article was published.

    Growing GOP Backlash to ODNI Report

    House Intelligence Committee Chair Mike Turner (R-Ohio) and House Coronavirus Subcommittee Chair Brad Wenstrup (R-Ohio) called the June 23 ODNI report “a promising step toward full transparency.”

    Following the release of the report, Turner and Wenstrup also concluded that “the Chinese Communist Party and the Chinese People’s Liberation Army have some serious explaining to do” regarding the research that had occurred at the WIV.

    Other Republicans were less impressed by the ODNI’s efforts.

    “This Friday night ‘news’ dump of a mere 10-page summary is a slap in the face of Americans who deserve full transparency about what information the government possesses regarding the origins of COVID-19,” said Rep. Cathy McMorris Rodgers (R-Wash.).

    Rep. Mike Gallagher (R-Wis.), who sits on the House Intelligence Committee, said that the ODNI should have released details on the WIV researchers who fell ill in the Autumn of 2019. In fact, the COVID-19 Origin Act asks for the names of WIV researchers who fell ill in 2019, their symptoms, and their specific involvement in coronavirus-related work at the WIV.

    This DNI release does none of that and, in many ways, obscures more than it illuminates,” Gallagher said.

    Tyler Durden
    Thu, 06/29/2023 – 22:20

  • $100 Billion "Profound Economic Shift" Has Reshaped Southern US
    $100 Billion “Profound Economic Shift” Has Reshaped Southern US

    Thanks to a flood of transplants during the pandemic, six southern states have been growing at breakneck speed – as approximately $100 billion in new income in 2020 and 2021 have begun to reshape the southern US.

    Jacksonville, FL

    To wit, Florida, Texas, Georgia, the Carolinas and Tennessee are now contributing more to the national GDP than the Northeast – which bled out about $60 billion during the same period, according to Bloomberg, citing government figures going back to thew 1990s.

    The switch happened during the pandemic and shows no signs of reverting,” write Bloomberg‘s Michael Sasso and Alexandre Tanzi.

    Since early 2020, the Southeast has accounted for more than 2/3 of all job growth in the US, nearly doubling its pre-pandemic share, and making it home to 10 of the 15 fastest-growing large cities in America.

    And as regular readers already know, corporations have also been flocking to the southern US, which (for now) enjoys a lower cost of living and a higher quality of life.

    For example, Dun & Broadstreet, founded 182 years ago and up until recently headquartered in Short Hills, New Jersey, moved to Jacksonville, Florida in 2021 – in order to take advantage of a $100 million package of cash and tax incentives. D&B CFO Bryan Hipsher told Bloomberg that the company would have gladly stayed in the New York area, but the Florida offer was too good to refuse.

    “You feel very wanted, right?” Hipsher told the outlet. “You feel very welcomed, clearly.”

    The average employee here has an annual salary of $77,000, 25% above the national level, and well outstripping most local salaries. Still, many roles pay roughly 15% below the average at the former New Jersey headquarters.

    Jacksonville grew so fast that it surpassed San Jose in population last year. Good schools, including University of Florida an hour and a half away, help provide a high-quality employee base, Hipsher said. Today the firm is still busy hiring — it’s a little less than halfway to its goal of 500 workers. -Bloomberg

    Meanwhile, the Mayo Clinic’s Jacksonville branch is growing along with the city – with a new oncology building under construction, and the addition of 2,400 employees to bring the total in the area to 9,000 – part of the 2.2 million people who have migrated to Florida and across the Southeast over the past two years.

    “You could throw a dart anywhere at a map of the South and hit somewhere booming,” said Mark Vitner, a retired longtime economist for Wells Fargo who now heads his own economic consultancy, Piedmont Crescent Capital, in Charlotte, North Carolina.

    JPMorgan Chase CEO Jamie Dimon says the company now has more employees in Texas than New York state, telling Bloomberg TV “it shouldn’t have been that way.”

    As far as the South Atlantic coast is concerned – including Charleston, SC, signs of explosive growth continue.

    According to 47-year-old Beth Woods, who moved from Mount Olive NJ to the Charleston suburb of Mount Pleasant during the pandemic, life is much better now.

    “You could get your hair done, your nails done, you could basically live your life. And it has lower property taxes here, too,” she said.

    59-year-old Rosemary Taibi concurred. She had her husband dropped their property taxes by $14,000 per year moving from Randolph, New Jersey.

    “It’s a big difference,” she said.

    The move has big political impacts as well.

    For now, more people translate into more congressional seats and more political power on the national scene. Over the past five decades, 12 states in the Southeast including Texas collectively added 33 more congressional seats, roughly the same number that the Northeast and Midwest each lost over the same period.

    And Southerners now chair 11 of the 21 most important committees in the US House, according to an analysis by Bloomberg Government.

    At the 2022 midterm elections, Republican governors handily defeated nationally known Democratic opponents in Florida, Georgia and Texas, a blow to Democrats hoping that a more diverse mix of people moving south would turn the region purple, if not blue. That may still happen over the long term because shifting politics in states as big as Florida and Texas can take 10 or 20 years, said James Gimpel, government professor at the University of Maryland. -Bloomberg

    According to Gimpel, it’s no surprise that so many top GOP candidates are based in the South – including Donald Trump, Ron DeSantis, Nikki Haley and Tim Scott.

    Steven Hertzberg, a tech entrepreneur from Sonoma County, California, is in heaven in St. Johns County, Florida.

    “Just drive around the neighborhoods here. It feels like you’re in Disneyland,” he said. “You see teenagers winging around in golf carts, electric scooters.”

    Let’s see how long this lasts…

    Tyler Durden
    Thu, 06/29/2023 – 22:00

  • Mearsheimer Warns Of 'The Darkness Ahead': Where The Ukraine War Is Headed
    Mearsheimer Warns Of ‘The Darkness Ahead’: Where The Ukraine War Is Headed

    Via John Mearsheimer’s Substack,

    This paper examines the likely trajectory of the Ukraine war moving forward.

    I will address two main questions.

    • First, is a meaningful peace agreement possible?

    My answer is no. We are now in a war where both sides – Ukraine and the West on one side and Russia on the other – see each other as an existential threat that must be defeated. Given maximalist objectives all around, it is almost impossible to reach a workable peace treaty. Moreover, the two sides have irreconcilable differences regarding territory and Ukraine’s relationship with the West. The best possible outcome is a frozen conflict that could easily turn back into a hot war. The worst possible outcome is a nuclear war, which is unlikely but cannot be ruled out.  

    • Second, which side is likely to win the war?

    Russia will ultimately win the war, although it will not decisively defeat Ukraine. In other words, it is not going to conquer all of Ukraine, which is necessary to achieve three of Moscow’s goals: overthrowing the regime, demilitarizing the country, and severing Kyiv’s security ties with the West. But it will end up annexing a large swath of Ukrainian territory, while turning Ukraine into a dysfunctional rump state. In other words, Russia will win an ugly victory.

    Before I directly address these issues, three preliminary points are in order. For starters, I am attempting to predict the future, which is not easy to do, given that we live in an uncertain world. Thus, I am not arguing that I have the truth; in fact, some of my claims may be proved wrong. Furthermore, I am not saying what I would like to see happen. I am not rooting for one side or the other. I am simply telling you what I think will happen as the war moves forward. Finally, I am not justifying Russian behavior or the actions of any of the states involved in the conflict. I am just explaining their actions.

    Now, let me turn to substance.

    Where We Are Today

    To understand where the Ukraine war is headed, it is necessary to first assess the present situation. It is important to know how the three main actors – Russia, Ukraine, and the West – think about their threat environment and conceive their goals. When we talk about the West, however, we are talking mainly about the United States, since its European allies take their marching orders from Washington when it comes to Ukraine. It is also essential to understand the present situation on the battlefield. Let me start with Russia’s threat environment and its goals.

    Russia’s Threat Environment

    It has been clear since April 2008 that Russian leaders across the board view the West’s efforts to bring Ukraine into NATO and make it a Western bulwark on Russia’s borders as an existential threat. Indeed, President Putin and his lieutenants repeatedly made this point in the months before the Russian invasion, when it was becoming clear to them that Ukraine was almost a de facto member of NATO.

    Since the war began on 24 February 2022, the West has added another layer to that existential threat by adopting a new set of goals that Russian leaders cannot help but view as extremely threatening. I will say more about Western goals below but suffice it to say here that the West is determined to defeat Russia and knock it out of the ranks of the great powers, if not cause regime change or even trigger Russia to break apart like the Soviet Union did in 1991.

    In a major address Putin delivered this past February (2023), he stressed that the West is a mortal threat to Russia. “During the years that followed the breakup of the Soviet Union,” he said, “the West never stopped trying to set the post-Soviet states on fire and, most importantly, finish off Russia as the largest surviving portion of the historical reaches of our state. They encouraged international terrorists to assault us, provoked regional conflicts along the perimeter of our borders, ignored our interests and tried to contain and suppress our economy.” He further emphasized that, “The Western elite make no secret of their goal, which is, I quote, ‘Russia’s strategic defeat.’ What does this mean to us? This means they plan to finish us once and for all.” Putin went on to say: “this represents an existential threat to our country.”

    Russian leaders also see the regime in Kyiv as a threat to Russia, not just because it is closely allied with the West, but also because they see it as the offspring of the fascist Ukrainian forces that fought alongside Nazi Germany against the Soviet Union in World War II.

    Russia’s Goals

    Russia must win this war, given that it believes that it is facing a threat to its survival. But what does victory look like? The ideal outcome before the war began in February 2022 was to turn Ukraine into a neutral state and settle the civil war in the Donbass that pitted the Ukrainian government against ethnic Russians and Russian speakers who wanted greater autonomy if not independence for their region. It appears that those goals were still realistic during the first month of the war and were in fact the basis of the negotiations in Istanbul between Kyiv and Moscow in March 2022.

    If the Russians had achieved those goals back then, the present war would either have been prevented or ended quickly.

    But a deal that satisfies Russia’s goals is no longer in the cards. Ukraine and NATO are joined at the hip for the foreseeable future, and neither is willing to accept Ukrainian neutrality. Furthermore, the regime in Kyiv is anathema to Russian leaders, who want it gone. They not only talk about “de-Nazifying” Ukraine, but also “demilitarizing” it, two goals that would presumably call for conquering all of Ukraine, compelling its military forces to surrender, and installing a friendly regime in Kyiv.

    A decisive victory of that sort is not likely to happen for a variety of reasons. The Russian army is not large enough for such a  task, which would probably require at least two million men.

    Indeed, the existing Russian army is having difficulty conquering all the Donbass. Moreover, the West would go to enormous lengths to prevent Russia from overrunning all of Ukraine. Finally, the Russians would end up occupying huge amounts of territory that is heavily populated with ethnic Ukrainians who loathe the Russians and would fiercely resist the occupation. Trying to conquer all of Ukraine and bend it to Moscow’s will, would surely end in disaster.

    Rhetoric about de-Nazifying and demilitarizing Ukraine aside, Russia’s concrete goals involve conquering and annexing a large portion of Ukrainian territory, while simultaneously turning Ukraine into a dysfunctional rump state. As such, Ukraine’s ability to wage war against Russia would be greatly reduced and it would be unlikely to qualify for membership in either the EU or NATO. Moreover, a broken Ukraine, would be especially vulnerable to Russian interference in its domestic politics. In short, Ukraine would not be a Western bastion on Russia’s border.

    What would that dysfunctional rump state look like? Moscow has officially annexed Crimea and four other Ukrainian oblasts – Donetsk, Kherson, Luhansk, and Zaporozhe – which together represent about 23 percent of Ukraine’s total territory before the crisis broke out in February 2014. Russian leaders have emphasized that they have no intention of surrendering that territory, some of which Russia does not yet control. In fact, there is reason to think Russia will annex additional Ukrainian territory if it has the military capability to do so at a reasonable cost. It is difficult, however, to say how much additional Ukrainian territory Moscow will seek to annex, as Putin himself makes clear.

    Russian thinking is likely to be influenced by three calculations. Moscow has a powerful incentive to conquer and permanently annex Ukrainian territory that is heavily populated with ethnic Russians and Russian speakers. It will want to protect them from the Ukrainian government – which has become hostile to all things Russian – and make sure there is no civil war anywhere in Ukraine like the one that took place in the Donbass between February 2014 and February 2022. At the same time, Russia will want to avoid controlling territory largely populated by hostile ethnic Ukrainians, which places significant limits on further Russian expansion. Finally, turning Ukraine into a dysfunctional rump state will require Moscow to take substantial amounts of Ukrainian territory so it is well-positioned to do significant damage to its economy. Controlling all of Ukraine’s coastline along the Black Sea, for example, would give Moscow significant economic leverage over Kyiv.

    Those three calculations suggest that Russia is likely to attempt to annex the four oblasts – Dnipropetrovsk, Kharkiv, Mykolaiv, and Odessa – that are immediately to the west of the four oblasts it has already annexed – Donetsk, Kherson, Luhansk, and Zaporozhe. If that were to happen, Russia would control approximately 43 percent of Ukraine’s pre-2014 territory.

    Dmitri Trenin, a leading Russian strategist estimates that Russian leaders would seek to take even more Ukrainian territory – pushing westward in northern Ukraine to the Dnieper River and taking the part of Kyiv that sits on the east bank of that river. He writes that “A logical next step” after taking all of Ukraine from Kharkiv to Odessa “would be to expand Russian control to all of Ukraine east of the Dnieper River, including the part of Kyiv that lies on the that river’s eastern bank. If that were to happen, the Ukrainian state would shrink to include only the central and western regions of the country.”

    The West’s Threat Environment

    It might seem hard to believe now, but before the Ukraine crisis broke out in February 2014, Western leaders did not view Russia as a security threat. NATO leaders, for example, were talking with Russia’s president about “a new stage of cooperation towards a true strategic partnership” at the alliance’s 2010 Summit in Lisbon.

    Unsurprisingly, NATO expansion before 2014 was not justified in terms of containing a dangerous Russia. In fact, it was Russian weakness that allowed the West to shove the first two tranches of NATO expansion in 1999 and 2004 down Moscow’s throat and then allowed the George W. Bush administration to think in 2008 that Russia could be forced to accept Georgia and Ukraine joining the alliance. But that assumption proved wrong and when the Ukraine crisis broke out in 2014, the West suddenly began portraying Russia as a dangerous foe that had to be contained if not weakened.

    Since the war started in February 2022, the West’s perception of Russia has steadily escalated to the point where Moscow now appears to be seen as an existential threat. The United States and its NATO allies are deeply involved in Ukraine’s war against Russia. Indeed, they are doing everything but pulling the triggers and pushing the buttons.

    Moreover, they have made clear their unequivocal commitment to winning the war and maintaining Ukraine’s sovereignty. Thus, losing the war would have hugely negative consequences for Washington and for NATO. America’s reputation for competence and reliability would be badly damaged, which would affect how its allies as well as its adversaries – especially China – deal with the United States. Furthermore, virtually every European country in NATO believes that the alliance is an irreplaceable security umbrella. Thus, the possibility that NATO might be badly damaged – maybe even wrecked – if Russia wins in Ukraine is cause for profound concern among its members.

    In addition, Western leaders frequently portray the Ukraine war as an integral part of a larger global struggle between autocracy and democracy that is Manichean at its core. On top of that, the future of the sacrosanct rules-based international order is said to depend on prevailing against Russia. As King Charles said this past March (2023), “The security of Europe as well as our democratic values are under threat.”

    Similarly, a resolution introduced in the U.S. Congress in April declares: “United States interests, European security, and the cause of international peace depend on … Ukrainian victory.”

    A recent article in The Washington Post, captures how the West treats Russia as an existential threat: “Leaders of the more than 50 other countries backing Ukraine have couched their support as part of an apocalyptic battle for the future of democracy and the international rule of law against autocracy and aggression that the West cannot afford to lose.”

    The West’s Goals

    As should be clear, the West is staunchly committed to defeating Russia. President Biden has repeatedly said that the United States is in this war to win. “Ukraine will never be a victory for Russia.” It must end in “strategic failure.” Washington, he emphasizes, will stay in the fight “for as long as it takes.”

    Specifically, the aim is to defeat Russia’s army in Ukraine – erasing its territorial gains – and cripple its economy with lethal sanctions. If successful, Russia would be knocked out of the ranks of the great powers, weakening it to the point where it could not threaten to invade Ukraine again.

    Western leaders have additional goals, which include regime change in Moscow, putting Putin on trial as a war criminal, and possibly breaking up Russia into smaller states.

    At the same time, the West remains committed to bringing Ukraine into NATO, although there is disagreement within the alliance about when and how that will happen.

    Jens Stoltenberg, the alliance’s secretary general told a news conference in Kyiv in April (2023) that “NATO’s position remains unchanged and that Ukraine will become a member of the alliance.” At the same time, he emphasized that “The first step toward any membership of Ukraine to NATO is to ensure that Ukraine prevails, and that is why the U.S. and its partners have provided unprecedented support for Ukraine.”

    Given these goals, it is clear why Russia views the West as an existential threat.

    Ukraine’s Threat Environment and Goals

    There is no doubt that Ukraine faces an existential threat, given that Russia is bent on dismembering it and making sure that the surviving rump state is not only economically weak, but is neither a de facto nor a de jure member of NATO. There is also no question that Kyiv shares the West’s goal of defeating and seriously weakening Russia, so that it can regain its lost territory and keep it under Ukrainian control forever. As President Zelensky recently told President Xi Jinping, “There can be no peace that is based on territorial compromises.”

    Ukrainian leaders naturally remain steadfastly committed to joining the EU and NATO and making Ukraine an integral part of the West.

    In sum, the three key actors in the Ukraine war all believe they face an existential threat, which means each of them thinks it must win the war or else suffer terrible consequences.

    The Battlefield Today

    Turning to events on the battlefield, the war has evolved into war of attrition where each side is principally concerned with bleeding the other side white, causing it to surrender. Of course, both sides are also concerned with capturing territory, but that goal is of secondary importance to wearing down the other side.

    The Ukrainian military had the upper hand in the latter half of 2022, which allowed it to take back territory from Russia in the Kharkiv and Kherson regions. But Russia responded to those defeats by mobilizing 300,000 additional troops, reorganizing it army, shortening its front lines, and learning from its mistakes.

    The locus of the fighting in 2023 has been in eastern Ukraine, mainly in the Donetsk and Zaporozhe regions. The Russians have had the upper hand this year, mainly because they have a substantial advantage in artillery, which is the most important weapon in attrition warfare.

    Moscow’s advantage was evident in the battle for Bakhmut, which ended when the Russians captured that city in late May (2023). Although it took Russian forces ten months to take control of Bakhmut they inflicted huge casualties on Ukrainian forces with their artillery.

    Shortly thereafter on 4 June, Ukraine launched its long-awaited counter-offensive at different locations in the Donetsk and Zaporozhe regions. The aim is to penetrate Russia’s front lines of defense, deliver a staggering blow to Russian forces, and take back a substantial amount of Ukrainian territory that is now under Russian control. In essence, the aim is to duplicate Ukraine’s successes in Kharkiv and Kherson in 2022.

    Ukraine’s army has made little progress so far in achieving those goals and instead is bogged down in deadly attrition battles with Russian forces. In 2022, Ukraine was successful in the Kharkiv and Kherson campaigns because its army was  fighting against outnumbered and overextended Russian forces. That is not the case today: Ukraine is attacking into the face of well-prepared lines of Russian defense. But even if Ukrainian forces break through those defensive lines, Russian troops will quickly stabilize the front and the attrition battles will continue.

    The Ukrainians are at a disadvantage in these encounters because the Russians have a significant firepower advantage.

    Where We Are Headed

    Let me switch gears and move away from the present and talk about the future, starting with how events on the battlefield are likely to play out moving forward. As noted, I believe Russia will win the war, which means it will end up conquering and annexing substantial Ukrainian territory, leaving Ukraine as a dysfunctional rump state. If I am correct, this will be a grievous defeat for Ukraine and the West.

    There is a silver lining in this outcome, however: a Russian victory markedly reduces the threat of nuclear war, as nuclear escalation is most likely to occur if Ukrainian forces are winning victories on the battlefield and threatening to take back all or most of the territories Kyiv has lost to Moscow. Russian leaders would surely think seriously about using nuclear weapons to rescue the situation. Of course, if I am wrong about where the war is headed and the Ukrainian military gains the upper hand and begins pushing Russian forces eastward, the likelihood of nuclear use would increase significantly, which is not to say it would be a certainty.

    What is the basis of my claim that the Russians are likely to win the war?

    The Ukraine war, as emphasized, is a war of attrition in which capturing and holding territory is of secondary importance. The aim in attrition warfare is to wear down the other side’s forces to the point where it either quits the fight or is so weakened that it can no longer defend contested territory.

    Who wins an attrition war is largely a function of three factors: the balance of resolve between the two sides; the population balance between them; and the casualty-exchange ratio. The Russians have a decisive advantage in population size and a marked advantage in the casualty-exchange ratio; the two sides are evenly matched in terms of resolve.

    Consider the balance of resolve. As noted, both Russia and Ukraine believe they are facing an existential threat, and naturally, both sides are fully committed to winning the war. Thus, it is hard to see any meaningful difference in their resolve. Regarding population size, Russia had approximately a 3.5:1 advantage before the war began in February 2022. Since then, the ratio has shifted noticeably in Russia’s favor. About eight million Ukrainians have fled the country, subtracting from Ukraine’s population. Roughly three million of those emigrants have gone to Russia, adding to its population. In addition, there are probably about four million other Ukrainian citizens living in the territories that Russia now controls, further shifting the population imbalance in Russia’s favor. Putting those numbers together gives Russia approximately a 5:1 advantage in population size.

    Finally, there is the casualty-exchange ratio, which has been a controversial issue since the war started in February 2022. The conventional wisdom in Ukraine and the West is that the casualty levels on both sides are either roughly equal or that the Russians have suffered greater casualties than the Ukrainians. The head of Ukraine’s National Security and Defense Council, Oleksiy Danilov, goes so far as to argue that the Russian lost 7.5 soldiers for every one Ukrainian soldier in the battle for Bakhmut.

    These claims are wrong. Ukrainian forces have surely suffered much greater casualties than their Russian opponents for one reason: Russia has much more artillery than Ukraine.

    In attrition warfare, artillery is the most important weapon on the battlefield. In the U.S. Army, artillery is widely known as the “king of battle,” because it is principally responsible for killing and wounding the soldiers doing the fighting.

    Thus, the balance of artillery matters enormously in a war of attrition. By almost every account, the Russians have somewhere between a 5:1 and a 10:1 advantage in artillery, which puts the Ukrainian army at a significant disadvantage on the battlefield.

    Ceteris paribus, one would expect the casualty-exchange ratio to approximate the balance of artillery. Ergo, a casualty-exchange ratio on the order of 2:1 in Russia’s favor is a conservative estimate.

    One possible challenge to my analysis is to argue that Russia is the aggressor in this war, and the offender invariably suffers much higher casualty levels than the defender, especially if the attacking forces are engaged in broad frontal assaults, which is often said to be the Russian military’s modus operandi.

    After all, the offender is out in the open and on the move, while the defender is mainly fighting from fixed positions that provide substantial cover. This logic underpins the famous 3:1 rule of thumb, which says that an attacking force needs at least three times as many soldiers as the defender to win a battle.

    But there are problems with this line of argument when it is applied to the Ukraine war.

    First, it is not just the Russians who have initiated offensive campaigns over the course of the war.

    Indeed, the Ukrainians launched two major offensives last year that led to widely heralded victories: the Kharkiv offensive in September 2022 and the Kherson offensive between August and November 2022. Although the Ukrainians made substantial territorial gains in both campaigns, Russian artillery inflicted heavy casualties on the attacking forces. The Ukrainians just began another major offensive on 4 June against Russian forces that are more numerous and far better prepared than those the Ukrainians fought against in Kharkiv and Kherson.

    Second, the distinction between offenders and defenders in a major battle is usually not black and white. When one army attacks another army, the defender invariably launches counterattacks. In other words, the defender transitions to the offense and the offender transitions to the defense. Over the course of a protracted battle, each side is likely to end up doing much attacking and counterattacking as well as defending fixed positions. This back and forth explains why the casualty-exchange ratios in US Civil War battles and WWI battles are often roughly equal, not favorable to the army that started out on the defensive. In fact, the army that strikes the first blow occasionally suffers less casualties than the target army.

    In short, defense usually involves a lot of offense.

    It is clear from Ukrainian and Western news accounts that Ukrainian forces frequently launch counterattacks against Russian forces. Consider this account in The Washington Post of the fighting earlier this year in Bakhmut: “‘There is this fluid motion going on.’ said a Ukrainian first lieutenant … Russian attacks along the front allow their forces to advance a few hundred meters before being pushed back hours later. ‘It’s hard to distinguish exactly where the front line is because it moves like Jell-O,’ he said.”

    Given Russia’s massive artillery advantage, it seems reasonable to assume that the casualty-exchange ratio in these Ukrainian counterattacks favors the Russians – probably in a lopsided way.

    Third, the Russians are not employing – at least not often – large-scale frontal assaults that aim to rapidly move forward and capture territory, but which would expose the attacking forces to withering fire from Ukrainian defenders. As General Sergey Surovikin explained in October 2022, when he was commanding the Russian forces in Ukraine, “We have a different strategy… We spare each soldier and are persistently grinding down the advancing enemy.”

    In effect, Russian troops have adopted clever tactics that reduce their casualty levels.

    Their favored tactic is to launch probing attacks against fixed Ukrainian positions with small infantry units, which causes Ukrainian forces to attack them with mortars and artillery.

    That response allows the Russians to determine where the Ukrainian defenders and their artillery are located. The Russians then use their great advantage in artillery to pound their adversaries. Afterwards, packets of Russian infantry move forward again; and when they meet serious Ukrainian resistance, they repeat the process. These tactics help explain why Russia is making slow progress in capturing Ukrainian held territory.

    One might think the West can go a long way toward evening out the casualty-exchange ratio by supplying Ukraine with many more artillery tubes and shells, thus eliminating Russia’s significant advantage with this critically important weapon. That is not going to happen anytime soon, however, simply because neither the United States nor its allies have the industrial capacity necessary to mass produce artillery tubes and shells for Ukraine. Nor can they rapidly build that capacity.

    The best the West can do – at least for the next year or so – is maintain the existing imbalance of artillery between Russia and Ukraine, but even that will be a difficult task.

    Ukraine can do little to help remedy the problem, because its ability to manufacture weapons is limited. It is almost completely dependent on the West, not only for artillery, but for every type of major weapons system. Russia, on the other hand, had a formidable capability to manufacture weaponry going into the war, which has been ramped up since the fighting started. Putin recently said: “Our defense industry is gaining momentum every day. We have increased military production by 2.7 times during the last year. Our production of the most critical weapons has gone up ten times and keeps increasing. Plants are working in two or three shifts, and some are busy around the clock.”

    In short, given the sad state of Ukraine’s industrial base, it is in no position to wage a war of attrition by itself. It can only do so with Western backing. But even then, it is doomed to lose.

    There has been a recent development that further increases Russia’s firepower advantage over Ukraine. For the first year of the war, Russian airpower had little influence on what happened in the ground war, mainly because Ukraine’s air defenses were effective enough to keep Russian aircraft far away from most battlefields. But the Russians have seriously weakened Ukraine’s air defenses, which now allows the Russian air force to strike Ukrainian ground forces on or directly behind the front lines.

    In addition, Russia has developed the capability to equip its huge arsenal of 500 kg iron bombs with guidance kits that make them especially lethal.

    In sum, the casualty-exchange ratio will continue to favor the Russians for the foreseeable future, which matters enormously in a war of attrition. In addition, Russia is much better positioned to wage attrition warfare because its population is far larger than Ukraine’s. Kyiv’s only hope for winning the war is for Moscow’s resolve to collapse, but that is unlikely given that Russian leaders view the West as an existential danger.

    Prospects for A Negotiated Peace Agreement

    There is a growing chorus of voices around the world calling for all sides in the Ukrainian war to embrace diplomacy and negotiate a lasting peace agreement. This is not going to happen, however. There are too many formidable obstacles to ending the war anytime soon, much less fashioning a deal that produces a durable peace. The best possible outcome is a frozen conflict, where both sides continue looking for opportunities to weaken the other side and where there is an ever-present danger of renewed fighting.

    At the most general level, peace is not possible because each side views the other as a mortal threat that must be defeated on the battlefield. There is hardly any room for compromise with the other side in these circumstances. There are also two specific points of dispute between the warring parties that are unsolvable. One involves territory while the other concerns Ukrainian neutrality.

    Almost all Ukrainians are deeply committed to getting back all their lost territory – including Crimea.

    Who can blame them? But Russia has officially annexed Crimea, Donetsk, Kherson, Luhansk, and Zaporozhe, and is firmly committed to keeping that territory. In fact, there is reason to think Moscow will annex more Ukrainian territory if it can.

    The other Gordian knot concerns Ukraine’s relationship with the West. For understandable reasons, Ukraine wants a security guarantee once the war ends, which only the West can provide. That means either de facto or de jure membership in NATO, since no other countries can protect Ukraine. Virtually all Russian leaders, however, demand a neutral Ukraine, which means no military ties with the West and thus no security umbrella for Kyiv. There is no way to square this circle.

    There are two other obstacles to peace: nationalism, which has now morphed into hypernationalism, and the complete lack of trust on the Russian side.

    Nationalism has been a powerful force in Ukraine for well over a century, and antagonism toward Russia has long been one of its core elements. The outbreak of the present conflict on 22 February 2014 fueled that hostility, prompting the Ukrainian parliament to pass a bill the following day that restricted the use of Russian and other minority languages, a move that helped precipitate the civil war in the Donbass.

    Russia’s annexation of Crimea shortly thereafter made a bad situation worse. Contrary to the conventional wisdom in the West, Putin understood that Ukraine was a separate nation from Russia and that the conflict between the ethnic Russians and Russian-speakers living in the Donbass and the Ukrainian government was all about “the national question.”

    The Russian invasion of Ukraine, which directly pits the two countries against each other in a protracted and bloody war has turned that nationalism into hypernationalism on both sides. Contempt and hatred of “the other” suffuses Russian and Ukrainian society, which creates powerful incentives to eliminate that threat – with violence if necessary. Examples abound. A prominent Kyiv weekly maintains that famous Russian authors like Mikhail Lermontov, Fyodor Dostoyevsky, Leo Tolstoy, and Boris Pasternak are “killers, looters, ignoramuses.”

    Russian culture, says a prominent Ukrainian writer, represents “barbarism, murder, and destruction …. Such is the fate of the culture of the enemy.”

    Predictably, the Ukrainian government is engaged in “de-Russification” or “decolonization,” which involves purging libraries of books by Russian authors, renaming streets that have names with links to Russia, pulling down statues of figures like Catherine the Great, banning Russian music produced after 1991, breaking ties between the Ukrainian Orthodox Church and the Russian Orthodox Church, and minimizing use of the Russian language. Perhaps Ukraine’s attitude toward Russia is best summed up by Zelensky’s terse comment: “We will not forgive. We will not forget.”

    Turning to the Russian side of the hill, Anatol Lieven reports that “every day on Russian TV you can see hate-filled ethnic insults directed at Ukrainians.”

    Unsurprisingly, the Russians are working to Russify and erase Ukrainian culture in the areas that Moscow has annexed. These measures include issuing Russian passports, changing the curricula in schools, replacing the Ukrainian hryvnia with the Russian ruble, targeting libraries and museums, and renaming towns and cities.

    Bakhmut, for example, is now Artemovsk and the Ukrainian language is no longer taught in schools in the Donetsk region.

    Apparently, the Russians too will neither forgive nor forget.

    The rise of hypernationalism is predictable in wartime, not only because governments rely heavily on nationalism to motivate their people to back their country to the hilt, but also because the death and destruction that come with war – especially protracted wars – pushes each side to dehumanize and hate the other. In the Ukraine case, the bitter conflict over national identity adds fuel to the fire.

    Hypernationalism naturally makes it harder for each side to cooperate with the other and gives Russia reason to seize territory that is filled with ethnic Russians and Russian speakers. Presumably, many of them would prefer living under Russian control, given the animosity of the Ukrainian government toward all things Russian. In the process of annexing these lands, the Russians are likely to expel large numbers of ethnic Ukrainians, mainly because of fear that they will rebel against Russian rule if they remain. These developments will further fuel hatred between Russians and Ukrainians, making compromise over territory practically impossible.

    There is a final reason why a lasting peace agreement is not doable. Russian leaders do not trust either Ukraine or the West to negotiate in good faith, which is not to imply that Ukrainian and Western leaders trust their Russian counterparts. Lack of trust is evident on all sides, but it is especially acute on Moscow’s part because of a recent set of revelations.

    The source of the problem is what happened in the negotiations over the 2015 Minsk II Agreement, which was a framework for shutting down the conflict in the Donbass. French President Francois Hollande and German Chancellor Angela Merkel played the central role is designing that framework, although they consulted extensively with both Putin and Ukrainian President Petro Poroshenko. Those four individuals were also the key players in the subsequent negotiations. There is little doubt that Putin was committed to making Minsk work. But Hollande, Merkel, and Poroshenko – as well as Zelensky – have all made it clear that they were not interested in implementing Minsk, but instead saw it as an opportunity to buy time for Ukraine to build up its military so that it could deal with the insurrection in the Donbass. As Merkel told Die Zeit, it was “an attempt to give Ukraine time … to become stronger.”

    Similarly, Poroshenko said, “Our goal was to, first, stop the threat, or at least to delay the war — to secure eight years to restore economic growth and create powerful armed forces.”

    Shortly after Merkel’s Die Zeit interview in December 2022, Putin told a press conference: “I thought the other participants of this agreement were at least honest, but no, it turns out they were also lying to us and only wanted to pump Ukraine with weapons and get it prepared for a military conflict.” He went on to say that getting bamboozled by the West had caused him to pass up an opportunity to solve the Ukraine problem in more favorable circumstances for Russia: “Apparently, we got our bearings too late, to be honest. Maybe we should have started all this [the military operation] earlier, but we just hoped that we would be able to solve it within the framework of the Minsk agreements.” He then made it clear that the West’s duplicity would complicate future negotiations: “Trust is already almost at zero, but after such statements, how can we possibly negotiate? About what? Can we make any agreements with anybody and where are the guarantees?”

    In sum, there is hardly any chance the Ukraine war will end with a meaningful peace settlement. The war is instead likely to drag on for at least another year and eventually turn into a frozen conflict that might turn back into a shooting war.

    Consequences

    The absence of a viable peace agreement will have a variety of terrible consequences. Relations between Russia and the West, for example, are likely to remain profoundly hostile and dangerous for the foreseeable future. Each side will continue demonizing the other while working hard to maximize the amount of pain and trouble it causes its rival. This situation will certainly prevail if the fighting continues; but even if the war turns into a frozen conflict, the level of hostility between the two sides is unlikely to change much.

    Moscow will seek to exploit existing fissures between European countries, while also working to weaken the trans-Atlantic relationship as well as key European institutions like the EU and NATO. Given the damage the war has done to Europe’s economy and continues to do, given the growing disenchantment in Europe with the prospect of a never-ending war in Ukraine, and given the differences between Europe and the United States regarding trade with China, Russian leaders should find fertile ground for causing trouble in the West.

    This meddling will naturally reinforce Russophobia in Europe and the United States, making a bad situation worse.

    The West, for its part, will maintain sanctions on Moscow and keep economic intercourse between the two sides to a minimum, all for the purpose of harming Russia’s economy. Moreover, it will surely work with Ukraine to help generate insurgencies in the territories Russia took from Ukraine. At the same time, the United States and its allies will continue pursuing a hard-nosed containment policy toward Russia, which many believe will be enhanced by Finland and Sweden joining NATO and the deployment of significant NATO forces in eastern Europe.

    Of course, the West will remain committed to bringing Georgia and Ukraine into NATO, even if that is unlikely to happen. Finally, U.S. and European elites are sure to retain their enthusiasm for fostering regime change in Moscow and putting Putin on trial for Russia’s actions in Ukraine.

    Not only will relations between Russia and the West remain poisonous moving forward, but they will also be dangerous, as there will be the ever-present possibility of nuclear escalation or a great-power war between Russia and the United States.

    The Destruction of Ukraine

    Ukraine was in severe economic and demographic trouble before the war began last year.

    The devastation inflicted on Ukraine since the Russian invasion is horrific. Surveying events during the war’s first year, the World Bank declares that the invasion “has dealt an unimaginable toll on the people of Ukraine and the country’s economy, with activity contracting by a staggering 29.2 percent in 2022.” Unsurprisingly, Kyiv needs massive injections of foreign aid just to keep the government running, not to mention fighting the war. Furthermore, the World Bank estimates that damages exceed $135 billion and that roughly $411 billion will be needed to rebuild Ukraine. Poverty, it reports, “increased from 5.5 percent in 2021 to 24.1 percent in 2022, pushing 7.1 million more people into poverty and retracting 15 years of progress.”

    Cities have been destroyed, roughly 8 million Ukrainians have fled the country, and about 7 million are internally displaced. The United Nations has confirmed 8,490 civilian deaths, although it believes that the actual number is “considerably higher.”

    And surely Ukraine has suffered well over 100,000 battlefield casualties.

    Ukraine’s future looks bleak in the extreme. The war shows no signs of ending anytime soon, which means more destruction of infrastructure and housing, more destruction of towns and cities, more civilian and military deaths, and more damage to the economy. And not only is Ukraine likely to lose even more territory to Russia, but according to the European Commission, “the war has set Ukraine on a path of irreversible demographic decline.”

    To make matters worse, the Russians will work overtime to keep rump Ukraine economically weak and politically unstable. The ongoing conflict is also likely to fuel corruption, which has long been an acute problem, and further strengthen extremist groups in Ukraine. It is hard to imagine Kyiv ever meeting the criteria necessary for joining either the EU or NATO.

    US Policy toward China

    The Ukraine war is hindering the U.S. effort to contain China, which is of paramount importance for American security since China is a peer competitor while Russia is not.

    Indeed, balance-of-power logic says that the United States should be allied with Russia against China and pivoting full force to East Asia. Instead, the war in Ukraine has pushed Beijing and Moscow close together, while providing China with a powerful incentive to make sure that Russia is not defeated and the United States remains tied down in Europe, impeding its efforts to pivot to East Asia.

    Conclusion

    It should be apparent by now that the Ukraine war is an enormous disaster that is unlikely to end anytime soon and when it does, the result will not be a lasting peace. A few words are in order about how the West ended up in this dreadful situation.

    The conventional wisdom about the war’s origins is that Putin launched an unprovoked attack on 24 February 2022, which was motivated by his grand plan to create a greater Russia. Ukraine, it is said, was the first country he intended to conquer and annex, but not the last. As I have said on numerous occasions, there is no evidence to support this line of argument, and indeed there is considerable evidence that directly contradicts it.

    While there is no question Russia invaded Ukraine, the ultimate cause of the war was the West’s decision – and here we are talking mainly about the United States – to make Ukraine a Western bulwark on Russia’s border. The key element in that strategy was bringing Ukraine into NATO, a move that not only Putin, but the entire Russian foreign policy establishment, saw as an existential threat that had to be eliminated.

    It is often forgotten that numerous American and European policymakers and strategists opposed NATO expansion from the start because they understood that the Russians would see it as a threat, and that the policy would eventually lead to disaster. The list of opponents includes George Kennan, both President Clinton’s Secretary of Defense, William Perry, and his Chairman of the Joint Chiefs of Staff, General John Shalikashvili, Paul Nitze, Robert Gates, Robert McNamara, Richard Pipes, and Jack Matlock, just to name a few.

    At the NATO summit in Bucharest In April 2008, both French President Nicolas Sarkozy and German Chancellor Angela Merkel opposed President George W. Bush’s plan to bring Ukraine into the alliance. Merkel later said that her opposition was based on her belief that Putin would interpret it as a “declaration of war.”

    Of course, the opponents of NATO expansion were correct, but they lost the fight and NATO marched eastward, which eventually provoked the Russians to launch a preventive war. Had the United States and its allies not moved to bring Ukraine into NATO in April 2008, or had they been willing to accommodate Moscow’s security concerns after the Ukraine crisis broke out in February 2014, there probably would be no war in Ukraine today and its borders would look like they did when it gained its independence in 1991. The West made a colossal blunder, which it and many others are not done paying for.

    *  *  *

    This paper was written to serve as the basis for public talks I have given or will give on the Ukraine conflict.

    Subsribe to John’s must-read substack here

    Tyler Durden
    Thu, 06/29/2023 – 21:40

  • Demographic Change Accelerates In The US
    Demographic Change Accelerates In The US

    According to a recent release by the 2020 Census, demographic change has accelerated in the United States in the past 10 years. Especially the group of those aged 65 years and older has grown more quickly, the data shows.

    While in the year 2010, 12.8 percent of Americans were 65 years or older, Statista’s Katharina Buchholz notes that had jumped up by 4 percentage points to 16.8 percent as of 2020.

    Infographic: Demographic Change Accelerates in the U.S. | Statista

    You will find more infographics at Statista

    In previous decades, the relative size of the age group had remained more stable.

    At the same time, the share of Americans under the age of 25 took a bigger dip than usual, decreasing by 2.8 percentage points to 31.5 percent of the population. Previously, changes in the cohort size had stayed below 1 percentage point per decade.

    Major changes to age groups are not unprecedented in the U.S. as numbers from the 1990 Census (compared to the 1980 Census) show. Between the two installments of the count, the last big cohorts of the Baby Boomer generation, which were born around the year 1960, aged out of the under-25 demographic, resulting in a major drop of of young people in the country by more than 5 percentage points. At the same time, the number of those 65 years or older increased. This was due to the larger pre-war age groups born before 1925 having hit their retirement age by 1990. However, the increase was smaller at 1.3 percentage points, even then showcasing the immense demographic power of the Baby Boomers that is now again being felt.

    United States is only at the beginning of its journey towards demographic change.

    The world’s most prominent aging society, Japan, already counted a 28.5 percent share of residents who were 65 or older in 2020, while Italy, Greece, Germany and Finland were looking at more than 22 percent each for this metric.

    Tyler Durden
    Thu, 06/29/2023 – 21:20

  • National Geographic Magazine Lays Off Remaining Staff Writers: Report
    National Geographic Magazine Lays Off Remaining Staff Writers: Report

    Authored by Katabella Roberts via The Epoch Times,

    Disney-owned National Geographic magazine has laid off the last of its staff writers and replaced them with freelancers, according to reports, making it the latest media outlet to slash jobs amid an uncertain economic environment.

    Following job cuts earlier this year, just 19 members of the editorial department had remained at the publication, according to The Washington Post. The remaining staff members were reportedly notified of the upcoming terminations back in April.

    The latest layoffs are the second within months as parent company Disney looks to cut costs. Back in September, the award-winning Washington-based magazine also reportedly laid off six top editors who specialized in an array of popular topics such as travel, science, and the environment.

    A spokesperson for the publication confirmed the latest departures in a statement to TheWrap but stopped short of stating exactly how many staffers were let go.

    “National Geographic will continue to publish a monthly magazine that is dedicated to exceptional multi-platform storytelling with cultural impact,” the spokesperson said.

    “Staffing changes will not change our ability to do this work, but rather give us more flexibility to tell different stories and meet our audiences where they are across our many platforms. Any insinuation that the recent changes will negatively impact the magazine, or the quality of our storytelling, is simply incorrect,” they continued.

    Multiple writers also confirmed their departure from the publication on Twitter, including Senior writer Craig Welch, who tweeted that National Geographic is “laying off all of its staff writers.”

    Gilbert M. Grosvenor managed National Geographic magazine that offered windows to the world from explorations of space to ocean depths. (Ralf Liebhold/Shutterstock)

    Staffers Confirm Departures

    Welch confirmed he is among those to depart.

    “I’ve been so lucky. I got to work with incredible journalists and tell important, global stories. It’s been an honor,” he wrote.

    Elsewhere, former writer Nina Strochlic tweeted that it had been an “epic run,” adding that she and her colleagues had been “unbelievably lucky to be the last-ever class of staff writers.”

    Douglas Main, a senior writer and editor at the publication, also took to Twitter to share about his departure from the publication.

    “National Geographic is laying off its staff writers, including me. It’s been a wonderful five years—an honor and a joy. Very proud of the work that my colleagues and I have done here,” he wrote, adding “We were informed about this a while ago.”

    Going forward, assignments will be contracted by freelancers or pieced together by the remaining editors, The Washington Post reports. The latest job cuts also eliminated the magazine’s small audio department, the publication said.

    Additionally, National Geographic will no longer be sold on newsstands throughout the United States starting next year as part of further cost-cutting measures, according to the Washington Post.

    The Epoch Times has contacted National Geographic for further comment.

    National Geographic had just under 1.8 million subscribers at the end of 2022, according to the Alliance for Audited Media.

    The CNN center is seen in downtown Atlanta, Ga., on Oct. 16, 2021. (Daniel Slim/AFP via Getty Images)

    More Media Layoffs

    The magazine is predominantly owned by Disney, which acquired a majority stake in the publication in 2019 as part of a $71 billion deal to purchase 21st Century Fox assets.

    Back in November, the publication’s new editor-in-chief Nathan Lump told Axios that the company had no plans to slash its monthly print magazine publishing schedule but would be investing more in social media— sharing more short-form videos across platforms like TikTok and Instagram—in an effort to modernize.

    “We feel good about our monthly cadence,” Lump said at the time. “Our incredible social reach is largely based on our strength on Instagram, which is based on our strength in photography, which is great,” he said.

    “But obviously, we know that video is driving a lot of engagement in social, and that’s where a lot of growth is in terms of engagement and users and social platforms. And so we need to put a lot more emphasis there,” Lump added.

    The latest job cuts at the award-winning magazine come amid a string of layoffs in the media industry.

    In November, CNN launched a second round of layoffs, and a month later in December, Buzzfeed said that it planned to cut 15 percent of its workforce. Most recently, Buzzfeed revealed it is shutting down its news division entirely as part of those cost-cutting efforts.

    The VICE Media Group (VMG) has also laid off more than 100 employees and canceled its flagship “Vice News Tonight” program. In May, the company filed for Chapter 11 bankruptcy protection.

    A string of other publications, including Bloomberg, Gannett, Insider Inc., NPR, The Hollywood Reporter, The Washington Post, and Fox, have also announced job cuts in an effort to save costs as digital advertising revenue has plummeted and operating costs have surged.

    Tyler Durden
    Thu, 06/29/2023 – 21:00

  • The State Of Global Peace
    The State Of Global Peace

    The 2023 edition of the Global Peace Index released by The Institute for Economics and Peace has found that global peacefulness has declined for the 13th time in the last 15 years.

    It ranks peace levels using 23 qualitative and quantitative indicators across 163 independent states and territories, covering 99.7 percent of the world’s population. This time around, peace has deteriorated in 79 countries while the situation has improved in 84.

    As Statista’s Katharina Buchholz reports, Iceland was once again the top-ranked country for peace in 2023, a position it has held since 2008. It is joined at the top of the index by New Zealand, Ireland, Denmark, Austria and Singapore. By contrast, the United States only managed to land in spot 131. Afghanistan was at the very bottom of the index, preceded by Yemen and Syria.

    Infographic: The State of Global Peace | Statista

    You will find more infographics at Statista

    Kazakhstan, Oman and Cote d’Ivore gained the most ranks this year compared to 2022. Kazakhstan had been on the most deteriorated list last year after violent unrest, but gained back its losses. Eswatini, on the other hand, appeared among the biggest losers for the second year in a row among violence that is accompanying anti-monarchy protests. While not among the biggest risers, India appeared in the “medium” category after having previously been listed as “low”.

    The current conflict in Ukraine had the country fall 17 spots into rank 153 in 2022 and further into rank 157 in 2023.

    As Ukraine had been ranked poorly for years due to the conflict in Eastern Ukraine that preceeded the Russian invasion, other countries deteriorated more on the index.

    The nations losing the most ranks in 2023 were Ecuador, Equatorial Guinea and Sri Lanka.

    The latter country lost its status as one of 2022’s fast climbers as an successful security and anti-terrorism agenda was followed by economic decline, violent protests and the ouster of the government last July.

    Tyler Durden
    Thu, 06/29/2023 – 20:40

  • To Unions, Organizing Time Is Fine When It's On The Taxpayers' Dime
    To Unions, Organizing Time Is Fine When It’s On The Taxpayers’ Dime

    Authored by Ben Weingarten via RealClear Wire,

    Randi Weingarten, the powerful president of the American Federation of Teachers, hasn’t been a working teacher in more than a quarter of a century. 

    Of the six years she spent teaching social studies, half of them appear to have been as a substitute. Yet despite the long absence from her short tenure in the classroom, the union leader described herself during a recent congressional hearing as being on leave from Brooklyn’s Clara Barton High School. 

    Through her decades of union activism, Weingarten has clocked service time as a public school teacher, enabling her to accrue an educators’ pension on top of the more than $500,000 in annual salary and benefits she earns as a labor executive, according to records obtained by the Freedom Foundation. She would receive about $230,000 total over her first 15 years of retirement, according to the public sector union watchdog’s analysis. 

    Weingarten has called that analysis “completely wrong,” without explaining why. She did not respond to RealClearInvestigations’ request, via the American Federation of Teachers’ press office, to clarify where the Freedom Foundation erred. 

    Weingarten’s work arrangement is not uncommon among public sector employees, thanks to a little-scrutinized feature often found in collective bargaining agreements: so-called “official time” or “release time” provisions. Such clauses enable employees to engage in union-related activities full- or part-time during their working hours, while sometimes continuing to earn salary and/or accrue benefits. 

    The practice is also common in the private sector, where many companies pay employees doing union business, according to Peter A. List, editor of LaborUnionNews.com. 

    But critics argue release time for public employees is different for two main reasons. First, it is taxpayers, rather than shareholders, who are picking up the cost. Second, because unions don’t have to pay many representatives, this frees up money for political activities which some taxpayers do not support. 

    Across the federal government, official time diverts more than $100 million in public funds toward union work annually. Combining the cost of release time at the state and local levels, one estimate puts the total bill for public sector union activities as high as $1 billion.

    Proponents of these arrangements say they provide bang for the taxpayers’ buck. 

    The American Federation of Government Employees, the largest public sector union, argues that by fostering labor-management collaboration, official time “reduces employee turnover, improves customer service, [and] prevents costly litigation,” contributing to “[g]ains in quality, productivity, and efficiency –year after year, in department after department.” 

    In congressional testimony, Darrell M. West, a senior fellow at the liberal Brookings Institution, said that by “establishing vehicles for communications, grievance-airing, and conflict resolution, this paid time … aid[s] in agency operations.” 

    Critics contend these provisions create a costly and potentially unconstitutional publicly funded benefit for unions – without providing any labor “peace dividend.” James Sherk, a labor expert in the Trump administration who helped lead its efforts to curtail federal official time, told RCI that the practice creates an “enormous taxpayer subsidy to government unions,” forcing the public to “pick up a large share of the unions’ basic operating expenses,” while “freeing up resources for them to spend on politics and lobbying.” 

    Sherk disputes the idea that official time makes for more harmonious government, claiming that on the contrary “it encourages unions to drag out negotiations and file frivolous grievances because they don’t have to pay for it.”  

    A Trump administrative executive order taking aim at official time noted that “many agencies and collective bargaining representatives spend years renegotiating CBAs [collective bargaining agreements].” 

    Federal Costs of Official Time 

    Until 1962, federal workers were forbidden to join unions, for fear any strike would threaten essential services and national security. In the years since President John F. Kennedy issued executive order 10988 permitting them to unionize, the public sector would come to be disproportionately organized relative to the private sector. 

    In 1978 Congress granted federal employees performing representational functions official time, enabling them to engage in non-internal union activities like collective bargaining negotiations or dispute resolution processes, while earning their salaries, provided the time so dedicated is “reasonable, necessary, and in the public interest.” 

    Federal workers spent 2.6 million hours on union activities while “on the clock” at a cost of $135 million in taxpayer-funded salary and benefits in fiscal year 2019, the last year for which such data is available. This represented a slight decrease from historical figures, typically totaling three million hours in official time, at a cost of well over $150 million annually. 

    The U.S. Office of Personnel Management, which reported these figures, directs agencies to classify official time in four buckets covering time used to: collectively bargain; bargain during the life of a collective bargaining agreement; process grievances and appeals, and; engage in other representational functions. The federal human resources agency found that more than three-quarters of the union-devoted time federal agencies recorded in 2019 covered activities other than negotiating or dispute resolution, falling into this fourth bucket officially dubbed “general labor-management relations” work. 

    Such work might include meeting with management on employment conditions, lobbying Congress, or participating in formal meetings and investigative interviews. 

    The Office of Personnel Management noted in its fiscal year 2019 official time report that it “had no means of confirming” that the data it received from agencies “was a full and accurate representation of official time actually utilized.” Republican lawmakers and appointees have expressed skepticism about the practice, fearing it may be abused, and suggesting that at minimum the lack of detail and transparency about official time usage makes it hard to conduct oversight that would reveal any such issues. 

    House Democrats claim the bulk of official time stems from meetings called for by agency management, and for which “agency management is the primary beneficiary.” 

    A congressional survey of 24 agencies covering 840,174 employees represented by unions found that more than 12,500 such employees used official time in some capacity during fiscal year 2017. Just under 1,000 of these employees spent at least half of their working hours as union representatives. Hundreds, many of whom earned salaries of more than $100,000 per year, were on 100% official time – solely doing union work – ranging from a social worker and pharmacist at the Department of Veterans Affairs to air traffic controllers at the Department of Transportation. Republicans said such employees were “being paid for work they were not hired to do without doing the work they were hired to do.” 

    Local Costs Harder to Deduce 

    Generally, state and local employees like their federal counterparts may also take “release time” to execute union-related work.  

    Unlike at the federal level however, there is not necessarily an Office of Personnel Management collecting and reporting related data. Labor experts say that measuring the full extent of release time across the states is difficult, in part because doing so would require obtaining data not just from state governments, but from more than 36,000 jurisdictions nationwide ranging from cities to school districts, each with specific policies regarding unions and release time. 

    Compiling relevant figures often requires soliciting records from authorities by bargaining unit, a tedious and time-consuming process providing no guarantee of success given not all jurisdictions diligently track release time metrics. Freedom Foundation’s Maxford Nelson, author of the report on Randi Weingarten’s teacher’s pension, said it took him “the better part of a year, mostly waiting on FOIA [Freedom of Information Act] requests,” just to piece together the story about the single prominent union leader. 

    Weingarten’s union leave arrangement – whereby she accrued time towards her pension but was not receiving salary – is itself the product of a specific collective bargaining agreement. Teachers on leave in other locales may do so subject to different conditions, and for different benefits. Despite these nuances, analyses conducted in recent years do provide an indication as to the prevalence of the practice and the associated costs in at least some locales. 

    A 2017 study of the 77 largest municipalities in the U.S., covering 231 collective bargaining agreements of police, firefighter, and other public employee unions, found that 72% of such unions receive some kind of release time – usually paid for by the city or through cost-sharing arrangements. 

    States and think tanks have performed analyses that provide an incomplete but still telling picture of the nature and extent of these arrangements. For example: 

    • New Jersey’s Commission of Investigation found that over a six-year period from 2006-2011, taxpayers shelled out $30 million in salaries and medical benefits to public sector employees on leave. During a single-year period, 88 government employees operated on full-time union leave, at a cost of over $7 million to the state. The report shows several public employees on long-term union leave who, like Weingarten, nevertheless were set to receive substantial state pensions. 

    • The free market-oriented Yankee Institute found that in 2015, Connecticut employees spent 121,000 hours on union time, at a cost of $4 million to taxpayers. 

    • The libertarian Competitive Enterprise Institute found that, based on record requests covering fiscal years 2014-2016, three Florida municipalities – Miami-Dade County, the City of Tampa, and City of Jacksonville – totaled annual release time over 100,000 hours, at a cost of $3.5 million to taxpayers. None of the authorities recorded the activity engaged in by those public employees – many of whom spent 100% of their work hours performing union business.  

    • The think tank argues this lack of transparency is troubling because of its findings for example in Missouri that government unions have used release time to lobby public officials for legislation including that antithetical to “employee free choice,” and in Texas that employees spent release time attending barbeques and other recreational events.  

    A 2020 study by the Goldwater Institute which queried agencies in all 50 states found that union officials on release time “routinely engage in partisan electioneering through union endorsements, fundraising, and get-out-the-vote efforts,” as well as “lobby[ing] … on issues that often put them at odds with the governments paying their salaries.” Like the Competitive Enterprise Institute, it too noted that some have been found using release time for recreational purposes, including going on vacation

    Jonathan Riches, the Goldwater Institute’s national litigation director, concluded that “there are few arrangements where taxpayer resources, or the resources of nonunion employees, are so clearly outside the control of the public, or so clearly earmarked for purely private activities.” 

    RCI asked both the American Federation of Teachers and the National Education Association, two of the largest and most powerful unions nationally, whether there should be transparency for taxpayers regarding public employees’ release time usage, by cost and activity. Neither union responded. 

    Nor did the American Federation of State, County and Municipal Employees, an AFL-CIO affiliate representing more than 1.6 million active and retiree members – the largest and fastest growing public service employees union in the country. 

    The issue of official or release time has taken on a partisan hue as these and most other public sector unions overwhelmingly contribute at the federal level to Democrat causes. In the 2020 election cycle alone, public sector unions contributed $93 million to federal candidates, parties, and outside groups, according to OpenSecrets. More than 97% of those funds went to Democrats or liberal organizations. 

    Stiff Resistance to GOP Opposition 

    Efforts to combat taxpayer-funded union work have enjoyed limited success. President Trump issued an executive order in May 2018 intended to cut official time spending by nearly two-thirds. That order drew the hackles of organized labor, one of several orders that the American Federation for Government Employees said “aimed to kill our union and harm our members.” 

    President Biden rescinded Trump’s official time-limiting executive order on the third day of his presidency. At least one related legislative proposal during the Trump years floundered

    On the state level, GOP strongholds including Florida, Montana, Ohio, and Utah all considered bills to limit release time this year. Those bills, however, either did not become law, or the relevant release time provisions did not make it through the legislative process, suggesting the power unions have even in red states.  

    Nelson told RCI that “conservative lawmakers on the whole tend to have less experience and expertise related to labor unions, which can mean that government union reforms face a longer road to passage.” He added that “attempts to limit or regulate release time are fairly new,” suggesting it is common for it to take several legislation sessions for such novel policies to advance. 

    Arizona is an exception. In 2022, its legislature passed into law Senate Bill 1166, barring public employers from spending public funds on union activities, defined as those “advocating for the election or defeat of any political candidate” or “lobbying … to influence the passage or defeat of federal or state legislation, local ordinances or any ballot measure.”  

    The first-of-its-kind legislation was modeled on a bill drafted by the libertarian Goldwater Institute. 

    While several states reassess official time agreements, the Phoenix-based think tank and other conservative legal groups have in recent years been seeking to overturn the practice in the courts.  

    The Goldwater Institute has brought cases in Arizona, New Jersey, and Texas under state constitutional “gift clauses” or “anti-aid clauses,” which prohibit the use of public funds to advance private interests – like those of unions. The landmark Janus 2018 U.S. Supreme Court decision, which ruled it a First Amendment violation for public sector unions to mandate that non-union members pay union fees, has further fueled such litigation, under the theory that if non-union members are forced to fund the release time of their unionized colleagues – as the Goldwater Institute argues occurs in Phoenix, Arizona – this too would constitute a First Amendment violation. 

    Several courts have struck down release time practices as unconstitutional or unlawful, only for decisions to be reversed at the state supreme court level. 

    The Wisconsin Institute for Law and Liberty, a conservative public interest litigator, sued Milwaukee Public Schools in 2021. It alleged that Milwaukee’s release policy violated various aspects of Wisconsin’s constitution in allowing public funds to be used for a private entity’s private purposes – including union political activities. Milwaukee would amend its release policy to ensure that permissible activities include solely those that are “politically and ideologically ‘view-point neutral.’” 

    Despite public sector unions, and particularly teachers’ unions like Weingarten’s American Federation for Teachers, facing mounting scrutiny for their role in school closures and broader left-wing political activism, the practice of release time has garnered little attention. 

    Lucas Vebber of the Wisconsin Institute for Law and Liberty told RCI that when his group brought the Milwaukee case, “I was surprised as to how few people were aware of this policy and just how little was known about it. There seemed to be very little oversight or records available on it. It seemed to be flying under the radar.” 

    Thom Reilly, a professor at Arizona State University and co-author of the 2017 study showing the prevalence of release time practices in America’s major cities, surmises that the opacity is by design. “I think many governments intentionally don’t want to track it because then it would be highlighting a cost that they perhaps don’t want to discuss in public,” Reilly has said.

    Tyler Durden
    Thu, 06/29/2023 – 20:20

  • Watch: Police Body Cam Footage Shows Takedown Of Texas Mall Shooter
    Watch: Police Body Cam Footage Shows Takedown Of Texas Mall Shooter

    In May, former security guard and mass shooter Mauricio Garcia shot and killed eight people when he opened fire at the Allen Premium Outlets, about 25 miles north of Dallas.  However, he is perhaps best known for being labeled a “Hispanic white supremacist” by the mainstream media due to his apparent interest in fascism (a historically left-wing ideology) and the media’s obsession with trying to link every act of gun violence to conservatives.  The shooting launched a national propaganda campaign asserting that minority shooters are a symptom of white supremacy.    

    Whether you believe this or not, the fact remains that it took a good guy with a gun (a police officer on the scene) to stop the man in his tracks.  The officer’s body cam footage has now been released, showing the moments leading up to Mauricio Garcia’s death.

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    In light of events like the Allen Mall shooting it’s fair to ask – If Democrats want to disarm the American public and also defund the police, who will be left to stop mass murderers like Mauricio Garcia?        

    Tyler Durden
    Thu, 06/29/2023 – 20:00

  • The US Government And The Bidens Are… Wait! Look! UFOs! Aliens!
    The US Government And The Bidens Are… Wait! Look! UFOs! Aliens!

    Authored by Marie Hawthorne via The Organic Prepper blog,

    I watched a lot of X-Files as a teenager.  My best friend had a big crush on David Duchovny, and we would watch episode after episode with Mulder and Scully investigating mysterious situations, usually involving aliens.

    But we knew it was silly. Nobody really believed in aliens, right?  It was just crazy people in the desert that thought UFOs were real.  Or people giving fuzzy photos to the National Enquirer.  Nobody respectable talked about aliens.

    How times have changed. 

    On May 1, a Las Vegas family called the police to say that an alien spacecraft landed in their yard and eight-foot-tall creatures emerged that were definitely not human.  Local police found the family credible enough to install cameras this past week in case the aliens came back.

    Just this week, a New York man provided footage of an alien encounter in his backyard. 

    These reports with supposedly alien footage have gotten a lot of publicity.

    Individuals have been reporting unusual phenomena for years, but they were always dismissed as rubes, or drunks, or conspiracy theorists.  But perhaps the people involved in these more recent sightings have been taken more seriously because of the recent change in tone we’ve seen from not only legacy media outlets like the New York Times but also respected government agencies like NASA. 

    Sightings are no longer the realm of the “crazy.”

    In 2017, the New York Times reported that the Advanced Aerospace Threat Identification Program was supposed to have ended in 2012.  However, after receiving bizarre footage taken by Naval pilots of unidentifiable objects maneuvering in ways they had never seen before, the Navy admitted that the program investigating these kinds of incidents was still operating.

    Over the past six years, stories have been slowly dribbling out about various unexplained phenomena.  “Unidentified Anomalous Phenomena,” or UAP, is the preferred term now, rather than UFO.  In late 2019 and early 2020, a series of strange drone sightings occurred across Colorado, Nebraska, and Wyoming.  One of my children and I personally witnessed a bizarre string containing hundreds of lights, not airplanes, moving across the sky.  I knew other people who had witnessed these, as well.  These sightings were extensive and never satisfactorily explained.

    Suddenly, it’s official.

    While sightings such as these remain mysterious, the government has slowly been taking more interest.  On May 17, 2022, the House Intelligence C3 Subcommittee hosted a hearing on UAP, the first in fifty years, some of which were open to the public and posted on YouTube.  

    In June 2022, NASA announced that they were commissioning a study team to investigate UAPs, and it’s filled with renowned scientists.  The team is headed by astrophysicist David Spergel, former department chair for astrophysics at Princeton.  They began a study on October 24, 2022 investigating the best ways to collect and then analyze data regarding UAPs, and expect to publish their study sometime this July.

    The Department of Defense has been taking a closer look, too.  In August 2020, the Under Secretary of Defense authorized the creation of an Unidentified Aerial Phenomena (UAP) Task Force. The DoD formed this Task Force to improve understanding of UAPs, particularly any that could affect national security.

    Some of this seems pretty reasonable.  We should probably know what our commercial airplanes and satellites are likely to encounter as they travel through the sky.

    But wait a second…

    However, some people think there might be more to this than pure research.  One member of the UAP Task Force, David Grusch, began providing classified information to the Department of Defense Inspector General in 2021.  He claimed that information regarding UAPs was being illegally withheld from Congress, who were unaware of where funding was going, and the level of technology that had been hidden.  These leaks were reported in The Debrief on June 5.

    David Grusch is no quack.  He was a decorated combat officer in Afghanistan who moved through various government agencies before becoming the co-lead for UAP analysis.  Likewise, the initial reporters at The Debrief, Leslie Kean and Ralph Blumenthal, have worked extensively for legacy media outlets.  The Debrief is not Weekly World News.

    And yet, some of what Grusch reported on in his News Nation interview sounded totally bizarre.  He described the UAP being denied access to military programs that had recovered technical vehicles of “non-human origin” from crash sites.  Grusch hasn’t provided photographs or documents backing up his claims, but a variety of people from the government, military, and legacy media seem to think he’s totally legitimate.

    What’s really going on here?

    So, what’s going on?  Is the federal government about to finally reveal what they’ve been hiding since the 1940s about different crash landing sites?

    I suspect not.  I watched a few of Grusch’s interviews, and he did not strike me as particularly honest.  Admittedly my opinion doesn’t mean much.  But professional psychiatrist, body-language expert, and YouTuber Dr. G posted an interesting analysis of Grusch’s behavior during his interview here that quantified much of the distrust I sensed in watching Grusch’s interviews.  Grusch may be telling the truth, and Dr. G never accuses him of lying, but he does say that Grusch exhibits many signs of extreme stress throughout the interview.

    I don’t want to say that Grusch is an outright liar. But he’s not the only whistleblower.  Love him or hate him, time has proven Edward Snowden’s claims about mass government surveillance correct.  And he has had thoughts on UAPs, as well.  After digging through government files for years, Snowden is convinced that there is no real proof that the U.S. government has been covering up evidence of UAPs.  

    Of course, I have no hard evidence either way, but I suspect that these news releases are an attempt to distract the general public.  

    Distract from what, you might ask?

    There’s a whole list of things.

    Daisy just wrote an article about the very real structural problems in our economy that most people seem to want to ignore. 

    Similarly, most people are aware that undocumented migrants have been entering the U.S. at record levels.  But did you know that our southern border is so porous that migrants now are not simply Mexicans traveling a few hundred miles north; they consist of people pouring in from all over the world

    Who destroyed Nordstream, creating one of the world’s biggest environmental catastrophes and seriously damaging the European economy?  Sy Hersh says the Americans did it. The American legacy media blames the Ukrainians. At the end of the day, establishment figures just want this question to go away.  

    Did you know we’re about to hand over huge powers to the World Health Organization?  If this new pandemic treaty gets passed in 2024, and it looks like it will, WHO bureaucrats will be able to declare lockdowns anywhere they want.  Oh, and they’ll be taking 5% of our healthcare budget, too.

    The efforts being made to put former President Trump behind bars have reached banana republic-levels of ridiculousness, particularly when contrasted with the Clintons’ various indiscretions or the Biden family crime syndicate.  This situation gets harder to stomach the more you think about it.  Mainstream media’s solution?  Don’t think about it!  Look, aliens!

    And we just found out that the Chinese are in advanced negotiations with the Cuban government, getting ready to build a military training facility 100 miles from Florida.  Nothing’s finalized yet, but I can’t pretend it doesn’t make me a little nervous.

    And of course, there’s Hunter Biden’s sweetheart-no-jail-time-deal for not paying taxes on $8.3 million in income and federal gun charges. As well, did you know that articles of impeachment were filed against President Biden? (Of course it’s being played off as a far-right conspiracy.)

    There are probably things out there but…

    I absolutely believe that there are objects in the atmosphere, space, or in the deep ocean that we don’t really understand.  But do I think the U.S. is about to reveal a bunch of 80-year-old secrets?  Color me skeptical.  I think it’s far more likely that this is part of the “circus” in the “bread and circuses” phase in the cultural evolution of the American public.

    But I could be wrong!

    Tyler Durden
    Thu, 06/29/2023 – 19:40

  • Russian Oil Exports Deliver A $1 Billion Per Month Windfall To "Mystery" Middlemen
    Russian Oil Exports Deliver A $1 Billion Per Month Windfall To “Mystery” Middlemen

    One year ago, conventional wisdom was that Western nations would throttle Russian oil exports to starve Putin’s war machine, depriving the Kremlin of much needed cash, tipping the scales of global oil markets into a state of demand imbalance, and sending the price of crude high in the triple digit stratosphere.

    It ended up being just the opposite, and despite the pompous rhetoric and countless “sanctions”, Western government did everything in their power to enable Putin to export as much oil as possible to willing buyers such as India and China. A few days ago, none other than Goldman Sachs explained how the virtue signaling rhetoric of western “democracies” which spent much of 2022 vowing they would cripple Russian oil exports was nothing but one big lie, and meanwhile behind the scenes oil-starved western nations were doing everything in their power to prevent Russian oil from exiting the market, an outcome which they knew would send inflation soaring even more, to wit:

    [Russian] production rebounded sharply by June 2022 as alternative vessels were quickly sourced from the global ‘dark’ and ‘grey’ fleet, that were not reliant on Western financial and logistical services. Eventually, the G7’s price caps on oil permitted any vessel to facilitate Russian oil flows if the cargo was priced below the caps. The key point is that the 2022 disruption was ultimately political in nature, and Western governments had the ability to take actions to reduce disruptions, which they did.

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    But while the end of the 2022 “political” disruption meant that Putin would gladly receive tens of billions in US Dollars in exchange for Russian oil every month, he was not the only beneficiary: it turns out the “dark” and “gray” fleet referenced by Goldman above – mostly various Greek tanker and shipowners – has also greatly rewarded.

    As Bloomberg writes, while Russia’s main crude grade is still selling well below international benchmarks as a result of the G7-imposed price cap which is a tacit blessing for China and India to buy as much Russian oil as they want, and at a lower price than all other oil purchases around the world, a huge amount of money for delivering it continues to go into the hands of mystery middlemen.

    The country’s flagship Urals grade averaged about $52 a barrel so far this month at the Baltic Sea port of Primorsk, according to data from Argus Media, a discount of about $20 compared to Dated Brent (a discount which was as wide as $40 at the start of the year). The G-7 only allows firms to provide key services such as insurance and tankers for Russian oil exports if the barrels cost $60 or less.

    However, what Bloomberg noticed is that the gap between the export price and the import price in India stood at about $12 a barrel so far in June. The size of that spread matters because, multiplied by export volumes, it implies about about $900 million a month is going into the hands of a web of the abovementioned “dark” and “gray” intermediary firms — traders, shipbrokers and tanker owners — whose affiliations are unclear and who are willing to anger the US state department while transporting millions of Russian barrels of oil. The gap has nevertheless whittled down, having averaged $13 in May and $15 in April.  

    Even so, Urals is still trading at hefty discounts to international prices. Large amounts of oil trades relative to Dated Brent, a physical price benchmark anchored in the North Sea. Urals averaged about $23 less than the marker so far this month, about the same as in May, but a slightly smaller discount than in April, according to Argus data.

    The mystery “commission” delta means that more than half of this Urals to Brent spread is going to enterprising middlemen and “gray” oil merchants who facilitate the sale of Russian oil to India and China.

    The European Union banned seaborne imports of Russian crude back in December, the same time as the price cap was introduced. The prohibition forced Russian barrels to discount to compete for buyers in Asia; however it has done nothing to actually halt Russian oil exports, and not only is “Russia Set to Overtake Saudi Arabia in Battle for China’s Oil Market“, but Russian oil continues to flood global markets. In the process, those “mystery middlemen” are becoming extremely rich at the expense of ordinary European citizens who are being crushed by runaway inflation and who could be buying oil at a much lower price if only Russian crude was allowed to enter every market instead of just India and China, but thanks to their clueless politicians, Putin is keeping energy inflation in the two largest Asian nations subdued while Christine Lagarde continues to hike rates into what is now officially a technical European recession.

    Tyler Durden
    Thu, 06/29/2023 – 19:20

  • Arizona County Elections Director Quits, Accusing Officials Of Politicization
    Arizona County Elections Director Quits, Accusing Officials Of Politicization

    Authored by Caden Pearson via The Epoch Times (emphasis ours),

    An Arizona county elections director resigned from her position on Tuesday after accusing officials of politicizing elections and creating a harmful work environment.

    A poll worker sorts ballots in a file photo taken in Arizona. (Olivier Touron/AFP via Getty Images)

    The Pinal County government announced the resignation of Elections Director Geraldine Roll, who stepped into the position to oversee the recount process after the 2022 midterm election.

    In a scathing email sent on Tuesday, Roll announced her resignation, expressing her dissatisfaction with County Manager Leo Lew and the toxic work environment she claimed to experience.

    With no regrets, I quit,” Roll wrote, highlighting her decision as a result of losing respect for her superiors and their failure to support her during times of attack and criticism.

    When you no longer respect those you work for, it is time to leave. I have watched as you idly stood by when I was attacked,” Roll wrote in the email obtained by AZCentral. “I cannot work for an individual who does not support me. The environment fostered by your team and the Board of Supervisors is toxic.”

    Roll emphasized her belief that the Elections Department “should not be politicized.” She further accused the county manager and the Board of Supervisors of prioritizing “irrational, extremist political party views and rhetoric” over “impartiality, common sense, and dedicated work.”

    “It is a far reach to see how you will deliver clean elections when you bend to a faction of the Republican party,” Roll wrote in the email. “Clearly, politics are the value this administration desires in a place where politics have no place: elections administration.

    Throughout her career, Roll claimed she had never faced the level of ridicule, disrespect, intimidation, and “attacks on my reputation and ethics” she had endured in recent months, since starting her role less than a year ago.

    County Manager Responds

    Roll’s resignation comes amid ongoing scrutiny and partisan tension surrounding election administration in several counties across Arizona.

    Roll signed her email, “Really, not respectfully.” In further comments to Pincal Central, she claimed she did nothing wrong and clarified that she didn’t resign, she quit. “I think there’s a very big difference,” she said.

    After news of her resignation, Lew, the county manager, issued a statement thanking Roll for her service.

    I want to thank Geri for her service during very challenging times and for the improvements that she identified and began to implement in the Elections Department,” he said in a statement. “Although I disagree with her assessment, she has been an impactful public servant, and I wish her the best and know that she will continue to do great things in her career.”

    Roll, who had been a part of Pinal County since 2013 and previously served as a deputy county attorney, had not yet overseen any elections in her role after being appointed as the elections director in Pinal County in late 2022.

    During her tenure as a deputy county attorney, she provided legal counsel and guidance to various departments within the county, including the Recorder’s Office and Elections Department. Additionally, Roll had also worked in the Public Fiduciary Office.

    Elections Scrutiny

    Roll took over as Pinal County’s elections director, replacing Virginia Ross, who was transferred to the role in August after a problematic primary election. The primary saw ballot errors and ballot shortages in two dozen polling sites, resulting in the firing of the former director.

    Officials in Pinal County said there was a shortage of ballots at more than 20 voting sites during the primary election in August 2022, which left some voters without the ability to cast votes. County officials attributed the problem to an “unprecedented demand for in-person ballots.” The county’s election agency suggested that people use an “express vote device” instead.

    Pinal County Attorney Kent Volkmer and Jeffrey McClure, chair of the Board of Supervisors, issued a joint statement to FOX10 saying it was a “major screw-up,” but McClure claimed he has “not seen evidence of a nefarious act.” Instead, he attributed it to “mistakes made on a grand scale.”

    The incident drew the scrutiny of major Republican organizations, the Republican National Committee (RNC), and its chairwoman, Ronna McDaniel.

    McDaniel said at the time that the RNC and Republican Party of Arizona’s poll observer program had documented and reported several “failures” by Pinal County’s elections administrator. This included “63,000 mail-in ballots delivered to the wrong voters and multiple Republican-heavy precinct locations running out of ballots.”

    This is a comprehensive failure that disenfranchises Arizonans and exemplifies why Republican-led efforts for transparency at the ballot box are so important. Pinal County Elections Director David Frisk should resign immediately,” McDaniel said.

    However, during a general election recount, more errors were discovered under Ross’s oversight, but she had already left the position after receiving a bonus for a seemingly smooth election.

    Roll, who previously worked as a deputy county attorney in Maricopa and Graham counties, and as an assistant attorney general for Arizona, became the county’s elections director.

    Every member of the Board of Supervisors in Pinal County, including County Attorney Kent Volkmer, who was also included in Roll’s email, belongs to the Republican Party.

    Roll was a registered Republican until recently. In a phone interview with PinalCentral, Roll expressed her changed sentiments toward her Republican colleagues, saying, “I can’t be associated with these people.”

    Tyler Durden
    Thu, 06/29/2023 – 19:00

  • Where Central Banks Have Issued Digital Currencies
    Where Central Banks Have Issued Digital Currencies

    Central bank digital currencies are controlled by governments like traditional currencies are and therefore represent the polar opposite of the idea of decentralized, self-sovereign bitcoins.

    As Statista’s Katharina Buchholz reports, several small nations and – since October 2021, Nigeria – have launched central bank digital currencies, and several more populous countries are getting ready to jump aboard a different crypto hype train.

    Infographic: Where Central Banks Have Issued Digital Currencies | Statista

    You will find more infographics at Statista

    The European Union today is proposing a legal framework for its planned launch of the digital euro. According to the Central Bank Digital Currency Tracker by Atlantic Council, concrete plans to launch a CBDC were also recorded in Canada, Brazil and the United States, among others.

    Countries which are already in a CBDC pilot phase include Russia, Thailand, India, South Korea, Sweden, the United Arab Emirates and Saudi Arabia, according to the source. It is unclear, however, which of these programs could see a proper launch next.

    CBDCs were introduced even earlier than in Nigeria in Caribbean countries, for example in the Bahamas and nations and territories that share the currency of the Eastern Caribbean dollar. The Sand Dollar of the Bahamas was the first central bank digital currency of the world upon its launch in 2019 and cleared the way for a rapid adoption around the region’s small nations.

    The Chinese digital Yuan pilot made headlines in April 2019, but the project has not moved on since. Like Nigeria, China has a solid digital and mobile payment infrastructure. Large parts of the two countries’ populations leapfrogged card payments and went straight from cash to digital payment options, which became hugely popular – may they be app or text-based. In developing countries, central banks also consider the potential of digital currencies reaching the unbanked.

    Another reason for some governments to champion official digital currencies is the collection of data.

    Ubiquitous digital payments and tight government surveillance have led to a plethora of payment data already available to Chinese administrators. This knowledge on how people spend money will only grow with the implementation of the digital Yuan, even though the country’s central bank has said it will limit traceability and create what it calls “controllable anonymity.”

    These aspects of digital currencies are viewed negatively by Europeans, who according to a survey by the European Central Bank are concerned about payment privacy in regards to the digital euro.

    Tyler Durden
    Thu, 06/29/2023 – 18:40

  • Trump And Attorney-Client Privilege
    Trump And Attorney-Client Privilege

    Authored by Eric Felten via RealClear Wire,

    Curious complications come up when the attorney-client privilege is breached. When Donald Trump was arraigned in Florida on federal charges, a condition of the former president’s bail was that he not discuss the case with anyone who might be a witness. But did that mean Trump couldn’t speak with Evan Corcoran? One of Trump’s lawyers, Corcoran has already testified before the federal grand jury in Florida about his interactions with his client. The testimony was not, it appears, to his client’s benefit. A charge of obstruction was brought against Trump based on the allegation that he misled Corcoran, leading the lawyer, in turn, to make false claims to the federal government. Corcoran “memorialized” the instructions the former president gave him. That is, he took notes – notes the attorney eventually turned over to the special counsel seeking an indictment.

    One of the key witnesses that we know is still the president’s lawyer,” argued one of Trump’s attorneys, Todd Blanche. He told the federal judge that “a special condition that President Trump cannot communicate with his lawyer, obviously doesn’t work, respectfully, your honor.”

    It wasn’t the first time Donald Trump has found he couldn’t rely on the attorney-client privilege, or on other expectations of confidentiality in his communications with lawyers. Michael Cohen, it will be remembered, was Trump’s long-time personal lawyer. He had a central role in the Stormy Daniels affair, which led the FBI to search not only Cohen’s office but also the hotel suite where he lived. The documents seized were in the thousands, if not more. Trump turned to Twitter to declare, “Attorney-client privilege is dead!”

    Trump may not be wrong if he thinks the Department of Justice, and Democrats more broadly, have demonstrated a willingness – an eagerness – to put the screws to lawyers representing him. It’s not just Evan Corcoran who looks likely to be called as a witness against him, but also Christina Bobb, who found herself under Justice Department scrutiny within months of joining the Trump legal team last year. Like Corcoran, Bobb was required to testify before a grand jury. Trump White House lawyers Pat Cipollone and Patrick Philbin were compelled to give evidence to a grand jury not once but twice, despite Trump asserting both executive privilege and attorney-client privilege.

    Corcoran reportedly did assert the attorney-client privilege in an effort not to testify regarding his client and the disposition of boxes storing documents from Trump’s presidency, but federal judge Beryl Howell ruled in favor of the government, which argued Trump had forfeited the protection of the privilege by using his lawyer to break the law, in what is known as the “crime-fraud” exception to the privilege.

    The crime-fraud exception holds that a “lawyer may not counsel or assist the client in conduct the lawyer knows is criminal or fraudulent.” Even so, that exception is limited, according to the American Bar Association. It does not, for example, “require the lawyer to reveal the client’s misconduct” other than in certain circumstances.

    The narrowness of those circumstances is a measure of the protection the privilege has traditionally been afforded, a protection needed for lawyers to do their job at all.

    A fundamental principle in the client-lawyer relationship is that, in the absence of the client’s informed consent, the lawyer must not reveal information relating to the representation … The client is thereby encouraged to seek legal assistance and to communicate fully and frankly with the lawyer even as to embarrassing or legally damaging subject matter.” The ABA maintains that a “lawyer needs this information to represent the client effectively and, if necessary, to advise the client to refrain from wrongful conduct.”

    Consider the trials and travails of Paul Manafort. Back when Robert Mueller was a special counsel trying to prove members of the Trump team were playing footsie with foreign governments and government officials, Judge Beryl Howell (again) allowed Mueller to force testimony by Manafort’s former attorney. One might say that’s what happens when you forget to report to the IRS millions in foreign payments stashed in foreign bank accounts and fail to register as the agent of a foreign principal when FARA requires it. At least that’s what happens if you are a foreign lobbyist who hitches your star to Donald Trump. It has been observed that the consequences of these behaviors seem to be remarkably different if one is named Hunter Biden.

    What does it mean for defendants who are not celebrities that the crime-fraud exception has been invoked successfully by the government in a case as high-profile as the prosecution of a former president? Are the exceptions to the attorney-client privilege likely to be invoked more often, as prosecutors enjoy the advantage that comes from riffling through a defendant’s legal documents and communications? Or will the government be less aggressive in cases that don’t involve Donald Trump?

    Lisa G. Lerman is professor of law emerita at the Catholic University of America and author of “The Ethical Problems in the Practice of Law.” She says the federal court’s seizure of Trump’s lawyer’s notes isn’t out of the ordinary as a matter of law, but is notable for being clear-cut, and not a muddy judgment call. “The decision about Evan Corcoran’s notes may be the most vivid example I’ve ever seen of a client endeavoring to pressure a lawyer to help him to unlawfully withhold documents and to lie to the investigators,” said Lerman. “It is a textbook case that illustrates a proper application of the crime-fraud exception to attorney-client privilege,” she told Real Clear Politics.

    One experienced Washington litigator interviewed by Real Clear Politics, but who asked not to be quoted by name, is far less sanguine. He says it is all too common for prosecutors to try to get their hands on lawyer-client communications as it is. He worries the eagerness to pursue Trump is leading to the erosion of one of the most fundamental norms in Anglo-American law. “The protection of communications between lawyers and their clients is the foundation of our legal system,” he said, adding he was “shocked” by how thoroughly the privilege has been breached in the Trump case.

    It’s possible that judges have become more willing to consider whether communications fall within the exceptions,” says William H. Simon, professor of law emeritus at Columbia Law School. He told RealClearPolitics that there may not be any change going on in how the exceptions to the privilege are enforced, but the fight over lawyer confidentiality may simply be more visible because of the very public nature of Trump’s conflict with prosecutors, or because of what Simon calls “the flagrancy of his contempt for law.”

    Stephen Gillers, a professor at NYU School of Law, scoffs at the notion courts are setting a bad precedent in denying the former president the right to confidentiality in his conversations with his lawyers. “Application of the exception to Trump’s communications with his lawyers will not in the slightest affect the privilege,” Gillers told RealClearPolitics. “It is no different from application of the exception to communications of hundreds of other defendants with their lawyers over the decades, with no dilution of the protection of the privilege where there is no crime or fraud.”

    But when it comes to clients other than Trump, legal professionals are far more zealous in arguing the importance of the privileges that come with their position.

    Last year, Congress considered new limits on lawyer-client confidentiality. Lawmakers nearly passed legislation, the Enablers Act, that would have required attorneys to alert regulators and prosecutors of any fishy financial transactions by their clients. Lawyers would have been treated like bankers, required to do due diligence about their clients and report any “suspicious activities.” The legal profession went into overdrive, pushing back against what it saw as a threat to the privilege that distinguishes lawyers from other professionals, the privilege of confidentiality that makes attorneys more like priests than mere businessmen.

    The attorney-client privilege and the lawyer’s ethical duty of confidentiality are bedrock legal principles that have been developed and enforced by the courts and that lawyers are required to follow,” the ABA emphasized in a letter to senators. “Both principles enable clients to communicate with their lawyers in confidence, which is essential to preserving clients’ fundamental right to the effective assistance of counsel.”

    As for the Supreme Court, it has not set these boundaries definitively. In a unanimous 1933 decision, the justices noted in passing that the “privilege takes flight if the relation is abused.” The court added, “A client who consults an attorney for advice that will serve him in the commission of a fraud will have no help from the law. He must let the truth be told.”

    Yet that case, Clark v. United States, did not involve attorney-client privilege at all. It was about juror misconduct; Justice Benjamin Cardozo, who wrote the opinion, was merely using attorney-client privilege as an analogy.

    More recently, the court had shored up the principle. In Upjohn v. U.S., the court noted, “The attorney-client privilege is the oldest of the privileges for confidential communications known to the common law.” Its purpose? To “encourage full and frank communication between attorneys and their clients, and thereby promote broader public interests in the observance of law and administration of justice.” The high court ruled that the attorney-client “privilege recognizes that sound legal advice or advocacy serves public ends and that such advice or advocacy depends upon the lawyer’s being fully informed by the client.”

    If the trials of Trump do lead to the erosion of the attorney-client privilege, we will see yet another important legal norm damaged, not, perhaps by Trump himself, but by those determined to see him punished and ruined. Which leaves the question: If the protections traditionally afforded defendants are weakened, will the blame be Trump’s or his pursuers?

    Tyler Durden
    Thu, 06/29/2023 – 18:20

  • Hunger Risk Hotspots Around The World
    Hunger Risk Hotspots Around The World

    The UN’s latest Hunger Hotspots report highlights the countries where substantial parts of the population are experiencing severe food insecurity and where this is at risk of deteriorating further.

    As Statista’s Katharina Buchholz reports, the report sees the biggest problems or the risk of their development – defined as food catastrophe or the lack of food after all coping strategies have been exhausted – in Africa’s Sahel Zone (Burkina Faso, Mali) as well as in Nigeria, Sudan, South Sudan, Somalia, Yemen, Haiti and Afghanistan.

    Infographic: Hunger Risk Hotspots | Statista

    You will find more infographics at Statista

    A cluster of factors, which for most countries consist of a combination of economic shocks, conflict and insecurity as well as displacement and natural catastrophes, was identified by the UN as the cause of severe food insecurity.

    Food emergency and the risk thereof was found in other parts of Africa – namely in Ethiopia, Kenya, the Central African Republic and the Democratic Republic of the Congo – as well as in Syria, Pakistan and Myanmar.

    It is defined as the stage of food insecurity in which households are using up their last resources, like selling belongings, to cope with gaps in their food supply. Other countries with acute food security issues that are deteriorating can be found in Central America.

    On top of them, the UN has place a handful of countries on a monitoring list, mostly because of a lack of data.

    These countries include several more in Africa, Venezuela and Colombia (where Venezuelan out-migration is causing issues) and also North Korea. In the course of the Covid-19 pandemic, the latter country has once more limited the movement of any people or goods across its borders to a minimum, also restricting the flow of information about the condition of its population.

    There have been reports, however, about acute lack of food and starvation deaths in the country, most recently by ways of a BBC report secretly gathering interviews in North Korea.

    After a devastating famine which is suspected to have killed around 3 million in the 1990s, the country had opened its borders to food and other shipments, which created the possibility of informal trade and smuggling in the tightly controlled regime and allowed people to satisfy their needs on the black market to a higher degree. With the border once again controlled very tightly, North Koreans have been reported to lack food as well as the income to buy it as avenues to gain money outside of official channels have been largely exhausted. Radio Free Asia reported based on accounts of North Korean officials that violence against police attempting to extract bribes was increasing in the country as citizens are fighting tooth and nail for scare resources.

    Tyler Durden
    Thu, 06/29/2023 – 18:00

  • Inevitable Suppression Awaits The RFK Jr. Movement
    Inevitable Suppression Awaits The RFK Jr. Movement

    Authored by Eric Lundrum via American Greatness,

    On the surface, there seem to be plenty of reasons as to why the Right should support, directly or tacitly, the quixotic bid of Robert F. Kennedy Jr. for President of the United States.

    The hopelessness of his campaign might be the biggest one.

    The Enemy of My Enemy?

    Many conservative commentators suggest that RFK Jr. is worth supporting because he represents a more “conservative” brand of Democrat than any presidential candidate since Jim Webb in 2016.

    And indeed, on a handful of cultural touchstone issues, the son of the late senator and would-be president of the same name does seem to agree with the Right: Most prominently, he has been critical of efforts to mandate COVID-19 vaccines. He also has spoken out against the rise of transgenderism. And he has engaged with such free-thinkers of the Internet as Joe Rogan and Jordan Peterson, which in turn have led to him getting censored by Big Tech, an achievement often limited exclusively to conservatives.

    Furthermore, his status as the latest standard-bearer of the outsider Democratic candidate waging a one-man war against the party machine also will naturally draw a lot of conservative sympathy, if not support, due to the Right’s universal opposition to Joe Biden. The previous symbol of this resistance to the Democrat Party elite was Bernie Sanders, who also had the race for the nomination rigged against him not once, but twice.

    But, ironically, the aging socialist senator from Vermont was probably more ideologically aligned with President Donald Trump than Hillary Clinton or Joe Biden – or Robert F. Kennedy Jr., for that matter. Sanders, for his many flaws, was nearly in complete agreement with Trump when it came to trade and tariffs, as both were opposed to such free trade deals as NAFTA and TPP. They shared a similar outlook on foreign policy, in favor of non-interventionism. And, once upon a time, Sanders was just as critical of open borders and mass immigration as Trump was.

    Kennedy, by contrast, harbors views that are just as dangerous as Sanders’, if not even more so. He once advocated for passing a law that would “punish” anyone who doesn’t accept the pseudo-scientific belief that is global warming. He tows the party line on many other issues too, including his pro-choice stance when it comes to the ongoing abortion battle.

    And, for a man who claims to be in complete opposition to the Deep State, JFK’s nephew once eagerly parroted all of the same DNC talking points when it came to the “Russian collusion” conspiracy theory against Trump, thus propping up one of the biggest Deep State lies of all time.

    RFK’s Pyrrhic Victories

    If conservatives shouldn’t support RFK Jr. based on his politics or ideology, then perhaps they’d be better off supporting the idea of his campaign rather than what he actually stands for: Giving Biden a political black eye ahead of the 2024 general election.

    In principle, Kennedy represents a rare formidable challenge to a sitting president. As far as politics go, it’s practically a law of physics that an incumbent president who faces a serious primary challenger goes on to lose re-election. Just ask George H.W. Bush, Jimmy Carter, and Gerald Ford. The most recent of these, when the great Pat Buchanan challenged Bush Sr. in 1992, saw Buchanan take 23% of the GOP primary vote; despite not even winning a single primary, his strong showing revealed cracks in the elder Bush’s armor, and he went on to lose the general election to Bill Clinton.

    Kennedy is, for the time being, on track to not only win several primaries, but to win the very first two contests. In a blatant effort to pander to black voters by moving states with greater black populations, like South Carolina and Georgia, to the front of the DNC’s 2024 primary calendar, the overwhelmingly White states of Iowa and New Hampshire, the historic first-in-the-nation caucuses and primaries, respectively, have effectively been told by Biden and the national Democratic Party to shove it.

    Unfortunately for the Democrats, all four states at the heart of the intra-party feud – Iowa, New Hampshire, South Carolina, and Georgia – are completely controlled by Republicans, from the legislatures to the governors. Naturally, none of them appear ready to formally change their respective primary dates to align with the DNC’s wishes, thus meaning that Iowa and New Hampshire will still go first, with South Carolina and Georgia set further back where they belong.

    In a stunning display of arrogance, Biden and his team have declared that, if their demands for the primary calendar are not met, his campaign will deliberately stay off of the ballots in Iowa and New Hampshire in a show of “solidarity” with the DNC, effectively conceding these races to Kennedy. But, as Axios notes, the party apparatus has a plan in place for this too: In the event that Kennedy takes the first two contests by default, the DNC will simply reduce the total number of delegates awarded to the winner of these states.

    Pulling Back the Curtain

    What this means is that, in the end, the party machine apparently doesn’t even care if Biden is embarrassed on the national stage by losing the first two primary contests, a feat that has never been achieved by a sitting president in modern history. If he does indeed lose these states, the party will essentially just change the rules to ensure that they don’t even mean that much in the grand scheme of things.

    And this goes back to the biggest similarity between RFK Jr. and Bernie Sanders: Not an ideological one, but a tactical one. Like Sanders, Kennedy appears on track to have the Democratic primaries completely rigged against him from the top down; a rather ironic twist of fate for a member of the Kennedy family, which has previously rigged elections in its favor.

    First the DNC stole the nomination from Sanders in 2016, courtesy of the almighty “superdelegates.” Then in 2020, as Sanders won the popular vote in all of the first three contests and appeared to be on an inevitable march to the nomination at last, the party leadership employed an even more overt method for stopping him: Forcing other candidates to strategically withdraw, while others strategically remained in the race.

    Two of the candidates who had performed well in Iowa and New Hampshire – Pete Buttigieg and Amy Klobuchar, considered more “moderate” candidates who spoiled Biden in the primaries – suddenly dropped out within 24 hours of each other and endorsed Biden. Meanwhile, Elizabeth Warren – a hardcore progressive who was widely seen as siphoning more votes from Sanders than anyone else – remained stubbornly in the race.

    This was no coincidence, and the subsequent results made that clear. After losing three of the four early contests, Biden had a “miraculous” turnaround in the Democrats’ Super Tuesday contests. Of the 14 states that voted on March 3rd, Biden won 10 to Sanders’ 4. However, four of the states that Biden won – Maine, Massachusetts (Warren’s home state), Minnesota (Klobuchar’s home state), and the crucial delegate-heavy stronghold of Texas – were won by single-digit margins. Had these gone to Sanders, he would have emerged victorious on that day, with 8 wins to Biden’s 6, and perhaps the race for the nomination would have unfolded much differently.

    From rigging superdelegates to strategically-timed candidate withdrawals, it appeared as if the Democrats had reached their peak in terms of how far they were willing to go to rig their own elections, let alone the general election as they did in 2020. But Kennedy’s campaign proves that they are far from done when it comes to constantly interfering in their own contests, even if it’s for the purpose of stopping a man who, by all accounts, is not going to beat the incumbent president.

    The Naked Emperor’s Coronation

    Therein lies the single most valuable contribution of Robert F. Kennedy Jr. to the political discourse ahead of the 2024 election. It is not his stance on vaccines, nor his censorship by Big Tech, or any of the other actual issues: It will be his inevitable suppression by the Democratic Party.

    For the third time in a row, one of the two biggest parties in the United States will blatantly rig its presidential primaries in favor of its preferred candidate. It was one thing to do so in order to stop a candidate who had a serious shot at becoming the nominee like Sanders; it’s something else entirely to go after someone who is almost guaranteed to become an also-ran (his likely early victories notwithstanding.)

    With the mainstream media fully aligned with the Democratic Party, it’s all too easy for the party to get away with rigging elections against its political rivals, as it did with Donald Trump in 2020. But for many of their own voters, it will be a much tougher sell to explain away yet another example of rigging the election against one of their own candidates.

    As some have acutely pointed out, Kennedy represents a long-gone ideal for many older Democratic voters; this perception is almost certainly because of his name, but that’s not the point. A Democratic Party effort to suppress and ultimately eliminate a member of the most famous political family in modern American history will undoubtedly not sit well with many in the party’s base. These disaffected RFK Democrats may not necessarily turn around and vote for Donald Trump as a result, but they are certainly more likely to sit out the general election altogether, which is still a net loss for the party.

    Most simply, Kennedy’s greatest accomplishment will be to unintentionally expose just what a sham the Democratic Party’s presidential nominating process has become. For all the flaws of the Republican Party, at least they still let the voters decide the nominee.

    Robert F. Kennedy Jr.’s candidacy will most likely not restore Camelot. But he could expose another corrupt kingdom in the process.

    Tyler Durden
    Thu, 06/29/2023 – 17:40

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Today’s News 29th June 2023

  • Sweden Allows New Quran-Burning Demonstration Ahead Of NATO Summit
    Sweden Allows New Quran-Burning Demonstration Ahead Of NATO Summit

    Via The Cradle,

    The Swedish government gave approval to organizers of a Quran-burning demonstration outside of a mosque in Stockholm on June 28.

    The decision is expected to draw the ire of Turkey and hinder the Nordic country’s potential NATO membership, as has happened previously.

    Image: EPA

    NATO officials are looking to admit Stockholm into the US-led alliance during the Vilnius Summit in Lithuania next month. Officials have previously clarified that not resolving Sweden’s admission by July would send a dangerous and humiliating message to the security alliance’s enemies.

    Ever since Russia launched its military operation in Ukraine in February 2022, Sweden and Finland have sought to join NATO as a defense mechanism in the event that the war in Ukraine was to hypothetically expand into Europe.

    Acquiring membership would require a unanimous vote from NATO’s members, but Turkiye and Hungary have voted against the Nordic country’s application.

    Ankara has accused Helsinki and Stockholm of harboring members and supporters of the PKK and its Syrian offshoot, the People’s Protection Units (YPG), which Turkey deems as terror organizations.

    At the end of March, Turkey granted Finland eligibility to join NATO. Sweden’s admission is still pending.

    Despite high expectations for Stockholm in relation to the upcoming summit in July, Turkish President Recep Tayyip Erdogan recently shot down the prospects of Sweden joining NATO over Stockholm’s failure to uphold several of Ankara’s requirements for joining the security alliance, such as recently permitted supporters of the PKK to demonstrate on the streets of its capital.

    Turkey has previously condemned the Swedish authorities for allowing a far-right anti-immigrant group to burn several Qurans outside of the Turkish embassy in Stockholm earlier this year, which resulted in Ankara stalling its decision to permit the country into NATO. 

    Swedish Prime Minister Ulf Kristersson described the act of burning the Quran as “extremely serious” and an attempt to sabotage the nation’s NATO application

    Tyler Durden
    Thu, 06/29/2023 – 02:00

  • Top US Officials Have "First-Hand Knowledge" Of Secret UFO Program: Rubio
    Top US Officials Have “First-Hand Knowledge” Of Secret UFO Program: Rubio

    Authored by Katabella Roberts via The Epoch Times (emphasis ours),

    Sen. Marco Rubio (R-Fla.) has claimed that multiple senior government officials—including Pentagon employees with “high clearances”—are aware of a secret UFO craft crash retrieval program being run by the United States.

    Sen. Marco Rubio (R-Fla.) speaks in Washington on March 8, 2023. (Mandel Ngan/AFP via Getty Images)

    The Republican lawmaker made the claims in an interview with NewsNation on June 26, shortly after Air Force veteran and former intelligence officer David Grusch alleged that the Pentagon had discovered dead alien bodies from spacecraft that had crashed.

    “There are people that have come forward to share information with our committee over the last couple of years … I want to be very protective of these people,” said Rubio, who serves as vice chairman of the Senate Intelligence Committee.

    “A lot of these people came to us even before protections were in the law for whistleblowers to come forward,” Rubio said, adding that many of those claimed to have “first-hand knowledge” of the alleged extraterrestrial retrieval program.

    The Florida Republican alleged that some of the whistleblowers who have stepped forward with similar claims to Grusch are public figures with “high clearances” and “high positions within our government.”

    “We’re trying to gather as much of that information as we can … Some of these people still work in the government. And frankly, a lot of them are very fearful of their jobs, fearful [of] their clearances, fearful of their career, and some, frankly, are fearful of harm coming to them,” Rubio said.

    Rubio’s comments come amid an ongoing investigation—led by House Oversight Committee Chair James Comer (R-Ky.)—into the alleged the secret military UFO program. The committee is expected to hold a hearing on the matter soon.

    This image from video, labeled GIMBAL and provided by the Department of Defense from 2015, shows an unexplained object (C) being tracked as it soars high along the clouds, traveling against the wind. (Department of Defense via AP)

    Government Recovering Remains of ‘Nonhuman Origin’

    That probe was launched shortly after Grusch made his claims regarding alleged extraterrestrial discoveries earlier this month in an interview with NewsNation.

    Grusch previously worked at the National Geospatial-Intelligence Agency and the National Reconnaissance Office and was a member of the Unidentified Aerial Phenomena (UAP) Task Force from 2019 to 2021.

    In the interview, the senior official claimed to have provided Congress and the Intelligence Community inspector general with classified information about secret UAP programs which he said proves that the government has been recovering partial and intact remains of aircraft of nonhuman origin, as well as their occupants, for decades.

    These are retrieving non-human origin technical vehicles, call it spacecraft if you will, non-human exotic origin vehicles that have either landed or crashed,” Grusch said. “Well, naturally, when you recover something that’s either landed or crashed, sometimes you encounter dead pilots, and, believe it or not, as fantastical as that sounds, it’s true.”

    Grusch stated that he believed it was “totally nuts” after first learning of the alleged program but claimed that over the years, many current and former senior officers had provided him with evidence of the program, including documents.

    The Pentagon has officially released three short videos showing “unidentified aerial phenomena” that had previously been released by a private company. (Courtesy of Department of Defense)

    Pentagon Denies UFO Program Claims

    Despite his claims, Grusch has not yet been able to present any solid evidence.

    At the time, the Pentagon denied Grusch’s claims, with the Defense Department stating that officials had “not discovered any verifiable information to substantiate claims that any programs regarding the possession or reverse-engineering of extraterrestrial materials have existed in the past or exist currently.”

    Asked whether he believes Grusch’s and others’ claims to be genuine, Rubio told NewsNation that he doesn’t find them to be “not credible or credible” because they are simply “beyond the realm of what any of us have ever dealt with.”

    What I think we owe is just a mature, you know, understanding, listening and trying to put all these pieces together and just sort of intake the information without any prejudgment or jumping to any conclusions,” Rubio said.

    The Republican’s comments come after the Senate Intelligence Committee advanced a bill that would pause funding for any government activities involving “unidentified anomalous phenomena” that have not been “formally, officially, explicitly, and specifically described, explained, and justified to the appropriate committees of Congress” or congressional leadership.

    The legislation also states that funding will not be given for such government activities when they involve recovering “unidentified anomalous phenomena craft or pieces and components of such craft.”

    Additionally, the bill instructs individuals currently or formerly under contract with the federal government with knowledge of such activities to disclose all relevant information to Congress and notes that they will not be subject to a criminal or civil action for doing so.

    Tyler Durden
    Thu, 06/29/2023 – 00:00

  • "Balance-Sheet Recession" Guru Warns Japanification Is Coming To China
    “Balance-Sheet Recession” Guru Warns Japanification Is Coming To China

    By Ye Xie, Bloomberg Markets Live reporter and strategist

    Richard Koo has become an unexpected celebrity in China these days. All of a sudden, the work of the economist who coined the phrase “balance-sheet recession” to describe the root cause of Japan’s lost decade is highly relevant to what’s happening in China.

    What the Nomura Research Institute economist sees isn’t encouraging: It may take Chinese companies and households many years to cut down debt and restore financial health in a “very painful process.”

    The concept of a balance-sheet recession, which Koo came up with in the 1990s, is simple. After asset markets turn from boom to bust, households and companies need to save to pay down debt. When they do it at the same time, no one spends, which sucks the oxygen out of the economy. In response, the government should step in as the borrower and spender of last resort.

    This week, Koo offered his diagnosis on China. In a speech that went viral on social media, he made a few comparisons between China and Japan’s situation three decades ago. He concluded that the fate of Japanification is highly likely. (The transcript of his speech hasn’t been independently verified, but the view is consistent with his recent interview on CNBC.)

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

    He noted that both countries experienced a similar housing boom. Once the bubble bursts, the balance-sheet recession starts. The good news, in his view, is that policymakers in Beijing were aware of the issue early on, which makes it likely they will respond to it more quickly than Japan did.

    The bad news is that China faces a bigger challenge than Japan did three decades ago. For starters, China’s economy is more reliant on the construction industry. At 26% of GDP, the size of the sectors are comparable in both countries. But the strength of other Japanese industries, such as auto and tech, softened the blow. Unfortunately, China doesn’t have similar industries that could fill in the void left by the housing slump.

    What’s particularly puzzling to Koo is that China’s deleveraging seemed to have started well before the housing bust in 2020. Corporations have stopped borrowing at times since 2015, suggesting something else has sapped the animal spirits of the private sector. (The timing coincided with the government’s supply-side reform that targeted eradicating overproduction capacities in various industries.)

    Also, China is facing greater geopolitical risks. While Japan also had economic frictions with the US in the 1990s, the conflict was limited to the trade sector. In China’s case, a full-blown decoupling with the West would mean the nation could only export to poorer economies that make up just 27% of global GDP, which would hold down its growth.

    What makes it even trickier is that China’s population started to shrink at the same time that the housing industry went from boom to bust. In Japan, the population started to decline nearly two decades after the bubble burst. Throw in regulatory uncertainties and lack of subsidies during the pandemic, and Beijing has a bigger problem on its hands.

    What should Beijing do? Don’t waste time on monetary policies, or structural reforms. Instead, focus all energy on fiscal stimulus to keep the economy going, Koo advised. Meanwhile, complete all the unfinished housing projects “at any cost” to avoid a collapse.

    To end the speech, he said: “I hope Chinese policymakers understand and respond to these challenges, because this might be the last chance for China to reach the living standards of the First World.”

    Coming from the man who arguably understands the subject more than anyone else, this is quite a warning to policymakers in Beijing.

    Tyler Durden
    Wed, 06/28/2023 – 23:40

  • Another Middle-Class Spending Barometer Flashes Red: Rolex Prices Near Two-Year Low
    Another Middle-Class Spending Barometer Flashes Red: Rolex Prices Near Two-Year Low

    On Tuesday, President Biden declared the US economy is “strong” and expects no recession. However, in contrast to his forecast, one barometer of middle-class spending habits is flashing red. 

    The Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded watches by value on the secondary market, continues falling from record highs reached in April 2022. Prices are below July 2021 levels, approaching the lowest point in two years. 

    “Demand for pricey timepieces from the top Swiss brands has cooled amid slowing economies, higher interest rates, and the crash in cryptocurrencies,” according to Bloomberg. 

    Watch buying activity can be used as a barometer of middle-income spending habits. If consumers have more money, they will increase purchases of discretionary items like wristwatches. We have also pointed out that diamond prices have plunged

    We also noted in late May that LVMH Moet Hennessy Louis Vuitton warned about a slowdown in US growth. At the time, we asked: Did The Luxury Bubble Just Burst?

    So contrary to the president’s claims about a strong economy, mid-tier consumers are dialing back spending on luxury goods. 

    Goldman’s Rich Privorosky recently pointed out, “Something is not quite adding up on the consumer” and asked, “Have we just run out of excess savings and are we returning to replenishing savings?”

    So putting all this together, consumers continue to shun secondary watch markets, pull back on diamond spending, and reduce Gucci handbag purchases. This comes as many consumers have racked up high amounts of credit card debt while paying some of the highest interest rates in decades, depleted savings, and endured two years of negative real wage growth due to the inflation storm. 

    Tyler Durden
    Wed, 06/28/2023 – 23:20

  • Trump Plan To Bypass Congress And Starve 'The Deep State'
    Trump Plan To Bypass Congress And Starve ‘The Deep State’

    Authored by Philip Wegmann via RealClear Wire,

    Sources close to former President Trump say he has a plan for keeping Congress from ever again forcing him into “disgraceful” and “ridiculous” spending situations. If he returns to the White House, Trump will seek to resurrect authority that Congress stripped from the presidency almost a half century ago. 

    What President Nixon squandered, his campaign promises, Trump will restore, namely the impoundment power. “A lot of you,” the former president told a New Hampshire crowd Thursday, “don’t know what that is.” Indeed, few now remember it. 

    Impoundment, if restored, would allow a president, in theory, to simply refuse to spend appropriations by Congress. More than just an avenue to cut spending, Trump sees that kind of authority as key to starving, and thus crushing, the so-called “deep state.” 

    But such a move would fundamentally alter the balance of power, and any effort to restore the long-forgotten authority virtually guarantees a protracted legal battle over who exactly controls the power of the purse. Trump welcomes that fight. Some budget experts believe he won’t get anywhere.

    Regardless, advisors close to the former president tell RealClearPolitics they are drawing up plans to challenge the 1974 Congressional Budget and Impoundment Control Act in court, and if that fails, to lean on the legislature to repeal it. The latter would require passing a law to surrender power, something lawmakers are loath to do. 

    Congress already went to war with another president who had expansive views of his own authority. And Congress won. 

    Inflation in the 1970s, the Nixon White House complained, was the result of a profligate “Credit Card Congress.” The California Republican warned Capitol Hill not to spend in excess of $250 billion. When his warning was ignored, Nixon simply refused to spend the appropriated money. A rebuke from the Supreme Court followed when the president impounded funding for environmental projects. But weakened by Watergate, Nixon eventually signed legislation effectively surrendering a power that had been exercised from the presidencies of Thomas Jefferson to Lyndon B. Johnson. 

    Russ Vought, Trump’s last director of the Office of Management and Budget, calls the concession of impoundment power “the original sin” that ensured “the executive branch no longer plays a meaningful role” in the appropriations process. Vought told RCP in an interview that the power of the purse has become “caricature,” where rather than “setting ceilings,” Congress now sets “spending floors.” 

    Hence, Trump’s “unhappy” signature on multiple multi trillion-dollar spending bills. 

    Trump promised he would “never sign another bill like this again” before putting his signature on a “crazy” $1.3 trillion spending bill in 2018. Two years later, he signed another omnibus bill, this one worth $1.4 trillion, that he called “disgraceful.” Both times, Trump justified voting for the bloated bills conservatives loathed by pointing to increased military spending. 

    Restoring impoundment authority, thus giving presidents an option to curb spending beyond just the veto, current Trump campaign and former Trump administration officials tell RCP that was part of the plan for a second term that never came. 

    The former president said he believes the 1974 law that gutted impoundment is unconstitutional, and if returned to the White House, would govern accordingly. 

    Yes, there’s the effort to have it overturned in courts. Yes, there is the legislative effort, but when you think that a law is unconstitutional,” Vought told RCP, the administration ought to look “to do the bare minimum of what the courts have required,” and “to push the envelope.” 

    Trump did something like this, exercising what Vought called “impoundment-like authorities,” when he froze nearly $400 million in foreign aid to Ukraine, even though the funds were congressionally appropriated. The Government Accountability Office later said that in doing so, Trump violated the law. He was impeached by the House over a phone call to Ukrainian President Zelensky concerning the money. 

    Trump’s OMB disputed the GAO ruling at the time, saying the administration was simply its apportionment authority to spend the money according to the most efficient timetable. 

    “The reason why there wasn’t an impoundment was because we did not have the authority just to pocket the money and not spend it,” Vought recalled, saying that if a new paradigm was in place, the administration “potentially would have had the ability to go further and pocket the money.” 

    Trump believes impoundment would be “a crucial tool” in his fight with the administrative state. “Bringing back impoundment will give us a crucial tool with which to obliterate the Deep State, Drain the Swamp, and starve the Warmongers,” he said in campaign video first obtained and reported by Semafor. “We can simply choke off the money.”

    His campaign pointed RCP to the Cybersecurity and Infrastructure Security Agency within the Department of Homeland Security, an entity that House Republicans allege has been involved in censorship of Americans, as a prime example of where dollars could be impounded. 

    But even some conservatives have their doubts. Kevin Kosar, a senior fellow at the American Enterprise Institute, said that when it comes to cutting spending appropriated money after the fact, there “is a limited amount of wiggle room.” 

    The idea that a president is going to achieve any sort of significant savings or reduction in the size of the administrative state by exercising impoundment authorities is patently ludicrous,” Kosar told RCP. 

    The policy wonk agrees that the reform Nixon signed into law, mandating a complex and cumbersome budgeting process, seldom works. But without repealing and replacing that law, he said,  “a president flat out refusing to spend money that was clearly appropriated for a particular purpose, saying he just doesn’t want to do it, pretty much would be grounds for impeachment.”

    Linda Bilmes, an assistant secretary at the Department of Commerce during the Clinton administration, agrees that the current budget process “has become so dysfunctional that it is very ripe for reforms.”

    Now a lecturer at Harvard’s Kennedy School of Government, she points to the partisan gridlock and numerous government shutdowns that are a feature of the current process. “The number of shutdowns in the entirety of U.S. history before 1974,” Bilmes said in an interview with RCP, “was zero.”

    Congress has been kicking around ideas for some time on how to reform the way they spend taxpayer money. Lawmakers consistently fail to pass individual appropriation bills, opting instead to approve spending all at once with a single bill, usually at the end of year and the last minute.

    Even if the process is reformed, however, Bilmes said that “the basic premise of the law, which is that the Constitution provides Congress with the ultimate authority, is very unlikely to change.”

    She added that although she disagrees with the idea that reducing the national debt requires gutting the Impoundment Act, there is a recent precedent for taming runaway spending. Bilmes pointed  RCP to the agreements hammered out between Bill Clinton and then-Speaker Newt Gingrich in the 1990s. That is possible again. In theory.

    Tyler Durden
    Wed, 06/28/2023 – 23:00

  • From Sea To Shining Sea: How Does Shipping Work?
    From Sea To Shining Sea: How Does Shipping Work?

    Earth’s surface is covered by 71% water, connecting every corner of the world, so it’s no surprise that 80% of global trade is carried by ship. But how does it all work?

    This is part one of Visual Capitalist’s The Shipping Industry: Plotting a Course for the Futurea two-part series for their sponsor Seaspan Corporation about the current state and future of global maritime trade.

    A Bird’s Eye View of Shipping

    The shipping industry provides low-cost transportation options for a wide variety of goods and products, from raw materials to finished consumer products. Briefly, the process goes something like this:

    1. Order received at overseas factory

    2. Order placed in 20-foot container and transported to port

    3. Cargo loaded onto a ship

    4. Cargo crosses the ocean

    5. Cargo arrives at destination

    6. Cargo is offloaded

    7. Cargo clears customs and makes its way to the customer

    In 2022, nearly 11 billion tons of goods took a similar journey, according to data collected by the United Nations in their annual Review of Maritime Transport.

    Now that we have some idea of how the process works, let’s take a closer look at some of the pieces that keep world trade flowing, starting with the global shipping fleet.

    From Tanker to Titan

    The first thing to know about the fleet is that it’s big. In 2022, it numbered 102,899 ships over 100 gross tons, including tankers, bulk transports, and containerships. And it’s growing, and not just in sheer numbers. 

    Containerships in particular have been steadily growing in size since a converted WWII T2 tanker made history in 1956 by strapping 58 containers to its deck, as ship owners chased greater economies of scale. Today’s containerships can carry upwards of 20,000 twenty-foot equivalent units (TEUs). 

    Too Many Ships, Not Enough Cargo?

    Ship-breaking on the other hand, the process of disassembling ships for parts and raw materials, has stalled. 

    Over 2021 and the first three quarters of 2022, the number of containership breakdowns plummeted. With more newbuilds on the way and the World Trade Organization revising global trade growth projections downwards, there might not be enough containers to go around.

    Port Volumes Are Up, but So Is Performance

    And that could be good news for shipping prices, which hit record highs during the supply chain disruptions caused by the COVID-19 pandemic. 

    At the beginning of 2022, the Shanghai Containerized Freight Index, which tracks ocean freight charges on a collection of routes, hit a record 5109.6, nearly five times the pre-pandemic average. 

    Prices have since returned to Earth, as ports worked to clear their backlogs. Ports processed 857 million TEUs in 2021, up 7% year-over-year. The latest Container Port Performance Index, which tracks total hours per ship call, showed that 172 ports improved their scores in 2022.

    It wasn’t all sunshine and roses, however, especially for North American ports. The bottom three ports on the Index were Long Beach, CA; Vancouver, BC; and Savannah, GA.

    All I Ask Is a Tall Ship and a Star to Steer Her By

    A lot has changed since 1902, when John Masefield wrote that oft-quoted line to describe the call of the sea. For example, the center of global trade has shifted eastward to Asia, where 9 of the 10 busiest container ports are located.

    Seaspan, a worldwide leader in independent management and ownership, is getting ready for the next era of shipping by adding 58 new state-of-the-art vessels over this year and next.

    Stay tuned for the next installment of this series, The Shipping Industry: Plotting a Course for the Future, where we look at how shipping companies like Seaspan are preparing for a low-carbon future.

    Tyler Durden
    Wed, 06/28/2023 – 22:40

  • 5 Revelations From New Report On Jeffrey Epstein’s Death
    5 Revelations From New Report On Jeffrey Epstein’s Death

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

    A new watchdog report detailed an investigation into Jeffrey Epstein’s death.

    An exterior view of the Metropolitan Detention Center in New York City on July 14, 2020. (Arturo Holmes/Getty Images)

    Here are five takeaways.

    Epstein’s Phone Call

    Epstein was found dead in his cell in the Metropolitan Correctional Center in New York on Aug. 10, 2019. The day before, he was allowed to make an unrecorded, unmonitored call, which went against Bureau of Prisons policy.

    Records reviewed by the U.S. Department of Justice Office of Inspector General, the watchdog that conducted the probe, show that Epstein dialed a local 646 number after claiming he was going to call his mother.

    Epstein’s mother died in 2004.

    The manager of the unit in which Epstein was being held let Epstein make the call.  The manager told investigations that he dialed a number Epstein provided. A male answered. The manager then gave the phone to Epstein, who was quoted as saying: “Hey, how are you doing? How’s everything?”

    Epstein spoke with the person for about 20 minutes.

    Investigators identified the person on the other end. They sought an interview with the person, who was not identified in the report, but the person declined. A lawyer representing the person said that the person was in Belarus during the call. If true, the call was connected through a local number.

    According to the lawyer, Epstein discussed how the media had been reporting on him. The call also went over “personal things such as books, music, and hygiene while incarcerated,” according to the report.

    “According to the representations by Individual 1’s counsel, Epstein told Individual 1, ‘They are trying to keep me safe,’ and that his case would take a little longer than he originally thought,” the report stated. “He told Individual 1 he loved her, to be strong, and that he would not be able to call her again for another month.”

    Not Monitored

    The manager said he left after handing the phone to Epstein because his shift was over. The manager acknowledged he should have placed the phone on speaker and monitored the call, especially after a male answered, contradicting Epstein’s claim of calling his mother.

    The manager said three individuals were nearby, the officer in charge of the unit for the evening, another officer, Tova Noel, and a senior officer specialist.

    The evening officer said that he was present when the call was made but that he did not overhear the conversation. The officer said that during the call, officers were distracted by unspecified actions by another inmate. Noel said she did not monitor the call. The specialist said he did not witness the call.

    A fourth officer identified by Noel as being around at the time told investigators he did not recall Epstein being in the area or making a call that evening.

    The manager told investigators that he allowed Epstein to make an unmonitored call because he thought Epstein had been unable to obtain documentation to use the normal phone system.

    That was false, investigators found. Epstein had obtained the documentation.

    The Bureau of Prisons northeast regional director said that Epstein making the unmonitored call was concerning because “we don’t know what happened on that phone call.” The call “could have potentially led to” Epstein’s death, “but we will never know,” the director said.

    Prosecutions Declined

    Misconduct by officers, including forging records, led to the death, investigators said.

    Noel and Michael Thomas, for instance, falsified records to show they’d been making required rounds when they actually did not check on Epstein after 10:40 p.m. on Aug. 9, 2019.

    Noel and Thomas entered a deferred prosecution agreement after admitting to falsifying records.

    U.S. District Judge Analisa Torres dismissed the charges in January at the request of prosecutors.

    The U.S. Attorney’s Office for the Southern District of New York, which brought the case, declined to prosecute other employees despite investigators finding they falsified records, the inspector general’s office said.

    Those records included documents on inmate counts and inmate checks on the day before and the day of Epstein’s death, the report stated.

    The attorney’s office did not respond to a request for comment.

    Photographs from after Jeffrey Epstein’s death show a piece of cloth tied to the cell’s bunkbed and the interior of the cell. Epstein lacked a cellmate despite being supposed to have one and had an excessive amount of cloth, investigators found. (Office of the Chief Medical Examiner, City of New York via The Epoch Times)

    Jeffrey Epstein in a July 2019 mugshot. (Department of Justice)

    Moment Epstein Was Discovered

    Officers finally began checking on inmates as they delivered them breakfast around 6:30 a.m. on Aug. 10, 2019. That’s when they discovered Epstein.

    Thomas knocked on Epstein’s door but there was no response, prompting Thomas to open it, Noel told investigators. Thomas said that Epstein had an orange string around his neck that was tied to a portion of the bunkbed, leaving him suspended. He ripped the string from the bed and lowered him to the ground before starting to perform CPR.

    Breathe, Epstein, breathe,” Thomas was quoted as saying by Noel. He was also quoted as saying, “We’re going to be in so much trouble.

    Noel said she did not enter the cell and that Epstein looked blue, was shirtless, and did not have anything on or around his neck.

    After a lieutenant responded to the area, Noel said, Thomas told her, “we [messed] up.”

    The lieutenant told investigators that after arriving, Noel said that “we didn’t do rounds at 3 a.m. and 5 a.m.” while Thomas said “we didn’t do the rounds. We messed up.” A technician who helped deliver food in the aftermath of the death told investigators that inmates said: “You weren’t making rounds. You killed him.”

    Suicide Determination

    The New York City Office of Chief Medical Examiner determined, following an autopsy, that Epstein killed himself by hanging.

    Pathologist Dr. Michael Baden, after observing the autopsy, said that the evidence was more indicative of homicide. Epstein had tried killing himself about two weeks prior, according to his cellmate, and Epstein was briefly placed on suicide watch.

    The medical examiner told the Office of the Inspector General that Epstein’s injuries were consistent with suicide by hanging and that there were no wounds that one would expect if Epstein had been defending himself against another person.

    Epstein did not have marks on his hands, broken fingernails or debris under them, contusions to his knuckles that would have evidenced a fight, or, other than an abrasion on his arm likely due to convulsing from hanging, bruising on his body,” the report stated, citing the examiner.

    Tyler Durden
    Wed, 06/28/2023 – 22:20

  • Trump Would Bar 'Child Sexual Mutilation In All 50 States'
    Trump Would Bar ‘Child Sexual Mutilation In All 50 States’

    Former President Donald Trump told an audience at a Faith and Freedom Coalition event on Saturday that he would sign a law barring transgender surgeries for children.

    “Something else I find hard to believe that I have to even say,” said Trump. “It’s so ridiculous. It’s so horrible and so ridiculous. I will keep men out of women’s sports.”

    “And I will sign a law prohibiting child sexual mutilation in all 50 states. Prohibited,” he continued, adding: “And on day one I will reinstate the Trump ban on transgenders in the military. Because a warrior should be focused on crushing American enemies, on being strong, on having the image of being strong.”

    “They have to be powerful. They have to be strong, especially when you see what’s happening in the world today, not catering to radical gender ideology.”

    https://platform.twitter.com/widgets.jsTrump also slammed critical race theory, and vowed to cut federal funding to any school which promotes it, or any ‘inappropriate political, sexual or racial content.’

    “Can you believe this? Can you imagine saying this 10 or 15 years ago? I will fight for parents’ rights,” Trump told the crowd, adding “I will fight for the direct election of school principals by the parents, the parents of the school. If any principal is not getting the job done, the parents should be able to fire them immediately and select someone who will.”

    Likewise, Trump vowed that he “will not give one penny to any school that has a vaccine mandate or mask mandate from kindergarten to college.”

    More via The Epoch Times;

    During his 2016 campaign, Trump rarely focused on social issues and instead targeted illegal immigration, taxes, manufacturing, and growing the economy. On the other hand, his chief rival, Florida Gov. Ron DeSantis—who is polling about 30 points behind Trump—has often focused on social issues as governor of Florida, including signing a bill earlier this year that would prohibit teachers to instruct or discuss sexual orientation or gender issues with small children.

    About a dozen Republican-led states have passed laws or rules that bar transgender medical procedures and drugs for minors, and around a dozen other states are considering other measures. Around 20 states have also banned biological males claiming to be transgender women from competing in women’s sports.

    Earlier this year, Trump said at a National Rifle Association (NRA) event that he would use the federal government to investigate transgender medical procedures and drugs, while accusing top U.S. officials of “pushing the transgender cult” on younger Americans, while “persecuting Christians” and “demonizing patriots.”

    Also at the Faith and Freedom event, Trump stated that he is “proud to be the most pro-life president in American history,” adding, “I took historic action to protect the unborn.”

    As your President, I will continue to stand proudly for pro-life policies just as I did for four strong years … we cannot be afraid to take on the Democrat extremists, we can’t be afraid. We have to be strong and powerful,” he remarked. “That’s why when I’m reelected, I will continue to fight against the demented late-term abortionists in the Democrat Party who believe in unlimited abortion on demand and even executing babies after birth.”

    At that same conference, Trump touched on the Department of Justice’s charges that were brought against him for allegedly mishandling classified documents. He pleaded not guilty to those counts earlier this month.

    Every time the radical left Democrats, Marxists, Communists, and fascists indict me, I consider it a great badge of courage,” he told supporters, referring to the case.

    Tyler Durden
    Wed, 06/28/2023 – 22:00

  • Dr. Peter Hotez's Funding Linked To Controversial Chinese Military Scientists At Wuhan Lab
    Dr. Peter Hotez’s Funding Linked To Controversial Chinese Military Scientists At Wuhan Lab

    Authored by Kanekoa The Great via Kanekoa News (emphasis ours),

    In a groundbreaking revelation, it has come to light that Dr. Peter Hotez, an esteemed vaccine researcher, has been entangled in a web of funding, collaboration, and research with Chinese military scientists potentially involved in the development of COVID-19. The intricate tale weaves together key Chinese military virologists and culminates in the smoking gun evidence surrounding COVID-19’s notorious furin cleavage site.

    At the center of this narrative lies Dr. Hotez, a distinguished professor at Baylor College of Medicine, who secured a substantial research grant (R01AI098775) from the National Institute of Allergy and Infectious Diseases (NIAID) led by Dr. Anthony Fauci. This grant, amounting to over $1 million per year, supports Dr. Hotez’s project titled “RBD Recombinant Protein-Based SARS Vaccine for Biodefense,” with Dr. Shibo Jiang listed as a Principal Investigator.

    Dr. Shibo Jiang, a professor at Fudan University, boasts an impressive academic background. After completing his Master’s degree from the People’s Liberation Army’s Guangzhou First Military Medical University (广州第一军医大学) and his Medical Doctor degree from Xi’an Fourth Military Medical University (西安第四军医大学微), he pursued postdoctoral training at Rockefeller University in New York from 1987 to 1990.

    Source: Fudan University

    Source: National Institute of Health

    Subsequently, he held various positions at the New York Blood Center’s Lindsley F. Kimball Research Institute until 2010, including Head of the Viral Immunology Laboratory. Since then, he has served as a professor at Fudan University’s Key Laboratory of Medical Molecular Virology in Shanghai, China.

    During his time in the United States, Dr. Shibo Jiang also acted as a visiting professor at several prestigious People’s Liberation Army (PLA) universities, including the First and Fourth Military Medical University, the Academy of Military Medical Sciences (AMMS), and Southern Medical University (formerly known as the First Military Medical University). Despite his collaboration with the Chinese military, he received research grants totaling over $20 million from NIAID under Dr. Fauci’s leadership between 1997 and 2016.

    Professor Jiang, a member of China’s renowned Thousand Talents Plan, actively collaborated with PLA scientists on numerous scientific papers supported by the National Natural Science Foundation of China, the First Military Medical University, and the AMMS. However, concerns have been raised regarding the nature of these collaborations, as a 2020 FBI report indicates that such talent recruitment plans “usually involve undisclosed and illegal transfers of information, technology, or intellectual property detrimental to U.S. institutions.”

    Professor Shibo Jiang obtained his Master’s and Medical Doctor degrees from the People’s Liberation Army’s Guangzhou First Military Medical University (广州第一军医大学) and the Xi’an Fourth Military Medical University (西安第四军医大学微).

    Together with Dr. Zhou Yusen, a distinguished PLA virologist and fellow AMMS alumnus, Professor Jiang co-invented multiple U.S. patents and published numerous scientific papers on SARS and MERS coronaviruses, often with the support of NIAID funds. Dr. Yusen, the former director of the PLA’s AMMS Laboratory of Pathogen and Biosecurity at the Beijing Institute of Microbiology and Epidemiology, filed the world’s first patent application for a COVID-19 vaccine in China on February 24, 2020, just a month after the country acknowledged human-to-human transmission.

    This discovery raises suspicions that the Chinese military may have been working on a vaccine even before officially notifying the World Health Organization about the outbreak.

    Dr. Zhou Yusen, a People’s Liberation Army officer, filed the world’s first patent application for a COVID-19 vaccine in China on February 24, 2020. The patent application listed Dr. Yusen as the lead inventor and was submitted by the PLA’s Academy of Military Medical Sciences.

    The archived website of the People’s Liberation Army’s Academy of Military Medical Sciences which was taken offline in 2017. Source: PLA’s AMMS via Internet Archive

    Source: PLA’s AMMS via Internet Archive

     

    Source: PLA’s AMMS via Internet Archive

    Interestingly, concerns surrounding the origins of the COVID-19 virus intensify when examining the furin cleavage site. Dr. Richard Ebright, a respected molecular biologist, and laboratory director, highlights the unique nature of the furin cleavage, stating that:

    “SARS-CoV-2 is the only member of the SARS-related betacoronavirus group that contains a furin cleavage site. The SARS-CoV-2 furin cleavage site exhibits unusual codon usage, and the SARS-CoV-2 furin cleavage site is located at a position that previously has been used to engineer coronaviruses having enhanced infectivity.”

    Further compounding the intrigue, Dr. David Baltimore, a renowned US virologist and co-discoverer of reverse transcriptase, expresses his belief that the furin cleavage indicates a laboratory origin for the virus, stating, “When I first saw the furin cleavage site in the viral sequence, with its arginine codons, I said to my wife it was the smoking gun for the origin of the virus.”

    With an esteemed career, a Nobel Prize, and extensive scientific expertise, Dr. Baltimore’s observations carry significant weight. Of additional concern is Professor Jiang’s expertise in inserting furin cleavage sites into coronaviruses.

    Phylogenetic tree of coronavirus spike protein sequences. A) Noting genera of coronavirus. B) Subtree of Betacoronavirus, noting subgenera. Sarbecovirus (e.g., SARS-CoV-2 and SARS-CoV), Merbecovirus (e.g., MERS-CoV), Embecovirus (e.g., human coronavirus OC43 and human coronavirus HKU1, both causing common cold), and two small subgenera Hibecovirus and Nobecovirus. Source: Journal of Stem Cell Research

    The furin cleavage site in SARS-CoV-2 in the region of the S1/S2 junction is unique among sarbecoviruses. Source: National Academy of Sciences

    Moreover, Professor Jiang and Dr. Lanying Du, another prominent Chinese virologist funded by Dr. Fauci and Dr. Hotez’s R01AI098775 grant, have collaborated on various scientific papers with the PLA’s AMMS and the Wuhan Institute of Virology. The untimely death of Dr. Yusen, who fell from the roof of the Wuhan Institute of Virology within three months of filing the patent, further fuels suspicions surrounding the origins of COVID-19.

    Dr. Du, the widow of Dr. Yusen, published at the PLA’s AMMS before migrating to the United States, where she joined Professor Jiang at the New York Blood Center’s Lindsley F. Kimball Research Institute. Remarkably, a U.S. Senate report reveals that the data referenced in Dr. Yusen’s patent could not have been generated as quickly as claimed, suggesting that he and his team may have started developing a COVID vaccine as early as November 2019.

    Furthermore, at least five publications funded by Dr. Fauci and Dr. Hotez’s grant list Dr. Zhou Yusen, a People’s Liberation Army officer central to the COVID-19 origin controversy at the Wuhan lab, as a co-author. These findings raise concerns about the connections between Dr. Fauci, Dr. Hotez, Dr. Jiang, Dr. Du, Dr. Yusen, and the Chinese military scientists potentially involved in the origin of COVID-19.

    Source: Journal of Virology

    Source: Journal of Nature Communication

    Source: Journal of Science China

    Source: National Institute of Health

    Additionally, both Professor Jiang and Dr. Du have published scientific research for the AMMS, which was added to the U.S. government’s Foreign Entity Blacklist in 2021 due to its use of “biotechnology processes to support Chinese military end uses.” Dr. Hotez’s involvement in this complex situation becomes evident when examining his subcontracted funding for these scientists connected to the People’s Liberation Army and the Wuhan Institute of Virology, particularly in the field of artificially inserting furin cleavage sites into coronaviruses.

    During a February 2021 interview, Dr. Hotez discussed their collaboration, stating, “About ten years ago, we got approached by a group at the New York Blood Center led by Shibo Jiang and Lanying Du that had a pretty good idea for coronavirus vaccines.

    Before migrating to the U.S. and receiving funding from Dr. Fauci and Dr. Hotez, Dr. Lanying Du co-published research on SARS-coronaviruses with Dr. Shibo Jiang and Dr. Zhou Yusen for the People’s Liberation Army’s Academy of Military Medical Sciences. Source: Journal of Vaccine

    Notably, in 2013, Professor Jiang and Dr. Du, along with their Chinese military colleagues, demonstrated the artificial insertion of a furin cleavage site similar to the one found in the COVID-19 virus. This study was funded by the Chinese government and a private Chinese biotech company, while Professor Jiang and Dr. Lanying also received funding from Dr. Fauci and Dr. Hotez.

    A study published by Dr. Shibo Jiang, Dr. Lanying Du, Dr. Shi Zhengli, and Dr. Ralph Baric, an American scientist considered a pioneer in gain-of-function research on coronaviruses, demonstrated the introduction of a human protease cleavage site into the spike protein of coronaviruses, enabling cross-species transmission to humans. Notably, this aligns precisely with the furin cleavage site found in the S1/S2 junction of SARS-CoV-2.

    While Dr. Hotez criticizes congressional hearings on the origins of COVID-19, stating that they are “inviting fringe elements to testify and promote outlandish conspiracy theories,” even warning that investigation will “undermine the fabric of science in America,” it is crucial to examine the mounting connections between Dr. Hotez, Dr. Fauci, Dr. Jiang, Dr. Du, and Dr. Yusen with Chinese military scientists, the Wuhan Institute of Virology, and the suspicious furin cleavage site. This evidence demands a thorough investigation to uncover the truth about the origins of the COVID-19 virus, a truth that holds profound implications for people worldwide.

    Professor Shibo Jiang with Dr. Zhengli Shi, Dr. Ralph Baric, and Dr. Peter Daszak at the 8th International Symposium on Emerging Viral Diseases hosted by the Wuhan Institute of Virology (WIV). Source: WIV

    .

    Source: Lawrence Sellin Substack

    Tyler Durden
    Wed, 06/28/2023 – 21:40

  • Bud Light To Permanently Lose Nearly 25% Of Its Business: Analysts
    Bud Light To Permanently Lose Nearly 25% Of Its Business: Analysts

    After self-destructing in the name of signaling virtue, Bud Light is looking at a permanent loss of nearly 25% of its business, according to Deutsche Bank analyst Mitch Collett in a recent Barron‘s article.

    “We believe recent underperformance implies a permanent reduction in ABI’s U.S. business,” writes Collett, referring to Anheuser-Busch InBev, the parent company of Bud Light. “Our proprietary survey data suggests these headwinds are likely to fade even if we do not expect the U.S. business ever to fully recover from its current challenges.”

    Data gathered by Deutsche Bank suggests that 24% of Bud Light consumers no longer purchase the brand, while another 18% are buying less of it.

    “Taken together, our survey data shows that Bud Light as a brand faces significant challenges—particularly with older consumers. However, we believe the forward-looking data sets imply that the challenges will at least partially fade,” wrote Collett, who actually upgraded shares of AB InBev to “buy” from “hold,” with a new price target of $65.92, up from $64.83.

    That said, another analyst, Evercore’s Robert Ottenstein, said Bud Light will “permanently lose” between 15 and 20% of its volume, after which “declines will resume at about the average rate of the prior 10 years.”

    Budweiser will also see a similar pattern, with consumers lost in 2022 not coming back,” he continued in a note highlighted by Yahoo Finance in which quotes Collett as saying Bud Light and Anheuser-Busch are “at the end of the tunnel” of the controversy.

    In May, HSBC downgraded the stock to “hold” over its “Bud Light crisis,” adding that there may be “deeper problems” at the company.

    “Is ABI’s leadership getting the brand culture transformation right? It’s mixed,” he said. “At Ambev, we think the answer is ‘yes’; in the U.S., we think it’s ‘no.’ The way this Bud Light crisis came about a month ago, management’s response to it and the loss of unprecedented volume and brand relevance raises many questions.”

    Bottles of beer and cider produced by Belgian–Brazilian group Anheuser-Busch InBev (Budweiser, Corona, Stella, and Beck’s) and British brewer SABMiller. (Justin Tallis/AFP/Getty Images)

    More via the Epoch Times;

    Since its ill-fated promotional exercise in early April with Mulvaney, a transgender TikTok influencer, Bud Light has seen its weekly sales decline. Recent data from Bump Williams Consulting and Nielsen IQ show that for the week ending on June 10, Bud Light’s year-over-year sales have declined by 26.8 percent, representing the worst week so far.

    And for the month of May, Constellation Brands-owned Modelo Especial was the No. 1-selling brand in the United States, outpacing Bud Light, which fell to No. 2, industry data show.

    Bump Williams, chief of the eponymous consulting company, told the New York Post on June 21: “This was a tough week for Bud Light and other beer brands” that are owned by Anheuser-Busch, including Budweiser. Sales of Budweiser were down by 10 percent, Natural Light was down by 2.3 percent, and Michelob Ultra was down by 2.4 percent.

    Anheuser-Busch’s CEO, Michel Doukeris, told investors last month that he believes that online “misinformation” was the primary reason for the sales numbers, and he asserted that it was just “one can” that was produced with Mulvaney’s face on it and appeared to deny that there was a partnership. However, Mulvaney posted on social media that there was a partnership.

    The can drew the ire of multiple celebrities and conservative influencers on Twitter. Some suggested that consumers boycott the brand in a bid to send a message to corporations who may be pursuing a “woke” leftist agenda.

    An executive with Anheuser-Busch recently spoke out about the boycott as he got an award during the Cannes Lions International Festival in southern France.

    “It’s tough to see the controversial and divisive debates that have been happening in the U.S. in the last couple of weeks involving lots of brands and companies, including and especially Bud Light,” Anheuser-Busch’s global chief marketing officer, Marcel Marcondes, told the Cannes Lions International Festival, according to an Ad Age report. “It’s tough exactly because what we do is all about bringing people together.”

    Marketing Pivot

    With summer officially starting last week, Bud Light pivoted and launched a new promotional campaign. But that, too, was derided on social media, with some demanding that the company apologize for its promotional efforts with Mulvaney.

    Responding to the latest ad, podcast host Liz Wheeler wrote on Twitter that the company was trying to whitewash the past two months of controversy.

    “None of this is funny until & unless you apologize for using Dylan Mulvaney—a man pretending to be a woman—as your spokesperson. It’s insulting that you think an ad about summer will make us forget our principles. The boycott continues,” she wrote in a post.

    Anheuser-Busch didn’t respond to a request from The Epoch Times for comment by press time.

    Tyler Durden
    Wed, 06/28/2023 – 21:20

  • America's First State Trans Representative Arrested For Child Pornography
    America’s First State Trans Representative Arrested For Child Pornography

    Authored by Jackson Elliott via The Epoch Times,

    New Hampshire police arrested transgender state representative Stacie-Marie Laughton for distributing child sex abuse images.

    A mug shot of Stacie-Marie Laughton, a transgender-identifying man. (Courtesy of Nausha, New Hampshire’s police department)

    Laughton, a Democrat, was America’s first transgender state representative. Born male, he went through sex change procedures to resemble a woman.

    This incident isn’t Laughton’s first brush with the law. Police arrested Laughton on Nov. 12, accusing him of violating a court order prohibiting him from posting on social media about another individual. According to court documents, prosecutors also seek to impose a suspended sentence of up to nine months he was given last year.

    In that case, police accused Laughton of texting 911 “for no emergency or police related matter” a dozen times between May and July 2021. Prosecutors dropped nine of the 12 charges. On the others, courts ordered him to perform community service, participate in a peer support program and remain on good behavior.

    A transgender flag sits on the grass outside the U.S. Capitol building in Washington on May 22, 2023. (Anna Moneymaker/Getty Images)

    In 2012, Laughton, a New Hampshire state-level representative, was the first openly transgender person elected to a state legislature.

    But he never took his seat, resigning after a prior felony conviction raised questions about his legal ability to serve.

    New Hampshire politicians can only run for office after “final discharge” from prison. When Republicans noted that Laughton was still outside prison only on condition of good behavior, he resigned.

    In 2020, Laughton ran for office as a state representative and won. He won again in 2022.

    But at the time of his most recent arrest, Laughton wasn’t in office in his third Hillsborough district. He resigned in December 2022 after facing stalking charges.

    The Epoch Times reached out to Laughton for comment but received none by publication time.

    On the Nausha, New Hampshire, police records website, the press release describing his arrest wasn’t available and displayed an error message.

    An officer told The Epoch Times that the website had been hacked and had problems displaying criminal charges.

    The police supplied records that referred to Laughton with female pronouns as they charged him with four counts of child pornography distribution.

    “On Tuesday, June 20, 2023, Officers responded to a local facility for a juvenile matter. They spoke with reporting parties that indicated Laughton distributed sexually explicit images of children,” the police report reads.

    Daycare Worker Arrested

    The police also sent The Epoch Times a press release on the arrest of 38-year-old Lindsay Groves on child pornography charges.

    “Due to the nature of the investigation members of the Homeland Security Investigations were notified,” the police press release reads.

    Groves is a Hudson, New Hampshire, resident.

    According to a press release by the Massachusetts Attorney General, authorities arrested Groves for taking sexually explicit pictures of children at Creative Minds, a daycare in Tyngsborough, Massachusetts.

    Groves, a daycare employee, sent these pictures to “an individual with whom she was previously in an intimate relationship,” according to the press release. However, the press release never names this individual.

    A mug shot of Lindsay Groves. (Courtesy of Nausha, New Hampshire’s police department)

    “Due to Groves’s case now being investigated federally, I cannot comment on the connection between the two cases,” Sergeant John Cinelli of the Nashua Police Department told The Epoch Times.

    However, New Hampshire city of Nashua police public information officer Sgt. John Cinelli told The Union Leader that Laughton’s arrest stemmed from the same investigation that led to Grove’s arrest.

    In office, Laughton sponsored and cosponsored a range of bills that included legalizing marijuana, decriminalizing psychedelic mushrooms, and prohibiting anti-union activities by employers.

    Along with Democrats Rep. David Cote and Rep. Fred Davis, Laughton won office in 2022 in his three-seat district with 26.4 percent of the vote.

    Voters also chose Laughton in the 2012 state election and 2020 state election.

    “Democrats in the State House will always work to protect a women’s (sic) right to an abortion, push to adopt domestic renewable energy so we can lower energy costs and fight to keep public money in public schools so every student in New Hampshire has the opportunity succeed,” Laughton’s House Democrats campaign page reads.

    From Prison to Preaching

    Recently, Laughton was ordained as a minister, according to his YouTube page.

    GetOrdained.org shows Laughton affiliated with Buddhism, Methodism, New Age, Oneness Pentecostalism, Pentecostalism, Protestantism, Rastafarianism, Spiritualism, Tibetan Buddhism, Unitarian Universalism, and Universal Life Church.

    It’s not clear what Laughton’s position on child transgenderism is. On his Facebook page, he links to a video from Caitlyn Jenner, a man who says he is a woman.

    In the video, Jenner condemns the “radical rainbow mafia.”

    “Government’s basically trying to take over our children,” Jenner said. “This is an issue between the parents, God, and their doctor.”

    Caitlyn Jenner arrives at the Elton John AIDS Foundation Academy Awards Viewing Party on Sunday, in West Hollywood, Calif., on March 27, 2022. (Willy Sanjuan/Invision/AP)

    Experts and activists have voiced concern over men who enjoy dressing as women receiving access to children.

    Jon Uhler, a therapist who treats sex offenders, said that in his experience if a man feels comfortable performing sexual dance in a skimpy women’s outfit for children, he’s likely extremely sexually deviant and “poses a significant risk to women and children.”

    Some transgender-identifying men experience autogynephilia, a feeling of sexual arousal by thinking of themselves as female.

    According to government surveys, nearly 3 percent of men experience this feeling, and increasing numbers of these men identify as transgender.

    “Autogynephilia exemplifies an unusual paraphilic category called ‘erotic target identity inversions’, in which men desire to impersonate or turn their bodies into facsimiles of the persons or things to which they are sexually attracted.”

    Tyler Durden
    Wed, 06/28/2023 – 21:00

  • CNN's Tapper Warns Of RFK Jr's "Dangerous Misinformation", Rebukes NewsNation For 'Platforming' Live Townhall Meeting
    CNN’s Tapper Warns Of RFK Jr’s “Dangerous Misinformation”, Rebukes NewsNation For ‘Platforming’ Live Townhall Meeting

    Democratic challenger Robert F. Kennedy Jr. will face voters tonight during a live town hall on NewsNation at 9pmET on affiliated broadcast television stations (due to be replay open on that site later in the evening).

    Having flexed his muscles during the week, now is his turn to flex his policy mind – something he has been doing on various podcasts (mostly more right-leaning since the establishment left has done their best to discredit Kennedy at every stop).

    He will take questions in front of a live audience comprised of voters in partnership with the New Hampshire Institute of Politics at Saint Anselm College. Voters in the key states of South Carolina and New Hampshire can also question the candidate.

    Kennedy’s bid for the Democratic presidential nomination has garnered support from as many as 20% of Democrats, but Republicans viewed him more favorably at 40%, according to recent reports.

    Polling this month from Quinnipiac University found that among Democrats and Democratic-leaning voters, 70% support Biden, 17% support Kennedy, and 8% support Marianne Williamson.

    “This is a moment where RFK Jr., who first got a lot of attention for having a famous name, and then got a lot of attention for some pretty wild positions that he has taken on a number of issues – including vaccines, including the war in Ukraine, including the CIA – and he’s generated a lot of buzz. This is the moment where he is going to face, what I would submit, is probably the toughest test of his candidacy so far, which is answering real voter’s real, practical questions about his candidacy and doing it in front of a national television audience,” NewsNation Political Editor Chris Stirewalt told KOIN 6 News.

    As Peter Barry Chowka notes, Kennedy has been attacked and largely shunned by the mainstream media but in at least a half dozen live interviews on FOX News, including the one with Tucker Carlson, he has expressed a message that suggests he could potentially draw support from across the political spectrum.

    Kennedy, who declared his candidacy in April, is one of two Democrats (the other is self-help author Marianne Williamson) to challenge President Joe Biden for their party’s 2024 presidential nomination.

    His comments, including describing the aim of his campaign as “end[ing] the corrupt merger of state and corporate power,” might resonate with a variety of constituencies.

    Why is RFK Jr on NewsNation and not on a left-leaning mainstream media outlet?

    Simple – here’s ‘fake-dossier-peddling’ Jake Tapper explaining that Kennedy should not have a platform its because of his “dangerous ideas”.

    Here’s one colleague’s (unedited) take (that we thought worth sharing) on Tapper’s (and likely all of mainstream media’s) attitude and self-immolation:

    “If RFK’s ideas are dangerous a real journalist would be able to draw attention to what RFK has wrong.  Jake Tapper just admitted he isn’t a journalist, and CNN does NOT disseminate objective information.

    The real threat to democracy is Jake Tapper failing to do his basic job. Tappers job isn’t to preemptively draw conclusions about presidential candidates.

    I don’t give a fuck what Tapper thinks, his job is objective arbitrator. If he wants to work on behalf of the “re-elect” Biden campaign he should have to declare that and we can stop pretending CNN does “news”.

    As AmericanThinker’s Thomas Lifson noted:

    I think NewsNation is very smart to feature RFK, Jr. as it tries to establish itself as a full-fledged rival to CNNMSNBCFOXNEWSMAX.

    RFK, Jr. already has a fan base that will want to tune in and see him, and I suspect most have never watched NewsNation.

    They may like what they see and come back now that they have searched for and found it on their cable/satellite/streaming feed.

    NewsNation is trying to establish itself in the middle of the political spectrum, accessible to both sides. Featuring RFK, Jr. is a good way to highlight that orientation.

    Kennedy is also catching up to Newsom in the betting markets…

    Where Kennedy stands on key issues…

    (via NewsNationNow.com)

    Vaccines

    Kennedy pushes back against critics that say he has anti-vaccine views.

    During a June 23 town hall hosted by WMUR-TV, Kennedy said if he were president, he would mandate pre-licensing safety trials for vaccines and “allow parents to make of their minds about whether they want to use vaccines for their children.”

    “What I’ve said is I’m pro-science and pro-safety and we ought to subject vaccines…to at least the kind of rigorous placebo-controlled trials that are mandated for every other medicine,” Kennedy told WMUR.

    Vaccines are tested extensively by manufacturers before the FDA issues a license.

    A vaccine being developed for distribution in the United States goes through two separate research phases before an initial three phases of clinical trials, according to the Food And Drug Administration. Those trials test the safety and effectiveness of the vaccine. By the time it reaches the third phase of initial clinical trials, the vaccine is generally given to thousands of people, and researchers compare those who received the vaccine against those who received a placebo.

    In some cases, the FDA requires additional post-market studies or clinical trials for continued research.

    The U.S. Centers for Disease Control and Prevention says immunization is the best protection against certain illnesses. Annually, tens of thousands of people get sick from diseased that could be prevented by vaccines.

    Foreign Policy

    Kennedy has made peace a priority when it comes to foreign policy, promising to “end the proxy wars, bombing campaigns, covert operations, coups, paramilitaries, and everything else that has become so normal most people don’t know what’s happening.”

    He’s specifically vowed to end the war in Ukraine. His plan to stop the fighting includes offering to withdraw U.S. troops and missiles from Russia’s borders and convince Russia to withdraw its troops from Ukraine.

    “UN peacekeepers will guarantee peace to the Russian-speaking eastern regions,” Kennedy said on his campaign website. “We will put an end to this war.”

    Border

    Kennedy visited the nation’s southern border earlier this month, calling it a “dystopian nightmare.”

    The presidential candidate described seeing hundreds of people cross the border – a seemingly “hopeless” situation he said was “created by the federal government, that local people are being forced to hold the bag on.”

    “It’s extraordinary,” Kennedy told NewsNation. “It’s kind of the best part of America and the worst part at the same time.”

    During WMUR’s town hall, Kennedy said he’s “not a big fan of Trump” or his border wall. After speaking with officers patrolling the border, however, he said physical barriers are necessary in some areas with high-density populations and advocated doing more to keep migrants and U.S. citizens safe from cartels.  

    Economy

    Kennedy has said he will enact policies that favor “small and medium businesses” and break up “too-big-to-fail” banks and monopolies.

    “When crisis strikes, bail out the homeowners, debtors, and small business owners instead,” Kennedy said on his campaign site.

    He also believes healthcare is a key economic issue, and has vowed to make existing services available to all, including “alternative and holistic therapies that have been marginalized in a pharma-dominated system.”

    One wonders just how long MSM can continue ignoring RFK Jr?

    Tyler Durden
    Wed, 06/28/2023 – 20:40

  • Agendas Run Rampant Over Science In The Biden Administration
    Agendas Run Rampant Over Science In The Biden Administration

    Authored by Michael Chamberlain via RealClear Wire,

    “Disinformation and misinformation is the bona fide enemy of public health,” Dr. Anthony Fauci stated in a recent interview. But he also said, “We should embrace differences in opinion.”  

    What if misinformation is coming from the public health officials themselves? And lately, government has not seemed to embrace differences in opinion, preferring instead to smother contrary opinions. The resulting erosion of trust in the officials in charge – less than half of Americans trust the Centers for Disease Control and Prevention (CDC) on COVID – could be more damaging than any “misinformation” found on social media. 

    Far too often in recent years, when science gets in the way of the government’s agenda, science is disregarded, ignored, or undermined. The CDC, Food and Drug Administration (FDA), and National Institutes of Health (NIH) have appeared to make policy decisions and public representations inconsistent with science — including their own science.  

    Science is undermined when scientists and the institutions that apply science do not follow the findings of unbiased studies. And science is undermined when those institutions do not make a good faith effort to collect data and let the data dictate a conclusion. When “science” gets tunnel vision for a result, it ceases to be science. 

    The Biden administration came into office promising to restore science as the driver of policy. Led by the White House Office of Science and Technology Policy (OSTP), the administration adopted strict scientific integrity standards at federal agencies. So far, though, the results don’t comport with the rhetoric. 

    After documenting a number of alleged violations of these standards, Protect the Public’s Trust (PPT) filed a scientific integrity complaint with OSTP. The complaint was based on our tracking of numerous instances of the government either ignoring scientific findings, manipulating data, or misrepresenting data to make the science conform to policy objectives.  

    Each example is eye-opening. In one case, the CDC claimed that vaccinations offer higher protection from Covid-19 than a previous infection. This talking point, however, was based on data cherry-picked from a single state within a fifty-state study. So, the CDC’s talking points were possibly taken from an outlier, not the entire dataset. Worse, the cited study did not even make a comparison between those with immunity solely from vaccination and those with immunity from prior infection, as the CDC’s public statements claimed. Yet high-ranking officials at the CDC and other components of the Department of Health and Human Services touted these misrepresentations unequivocally.  

    It’s not just misrepresentations to the public. Actual policy decisions undermined science. In August 2022, the CDC endorsed COVID-19 vaccinations for children aged six months to four years, saying that a “lower risk of symptomatic Covid-19 was observed with vaccination compared to placebo.” But it also noted that severe adverse events were “more common in vaccine recipients.” To make matters worse, the claim that vaccinated children were at lower risk of showing symptoms was based upon bad science. “You can inject [children] with it or squirt it in their face, and you’ll get the same benefit,” one high-level CDC official declared. So, the CDC made this recommendation without proof of its efficacy, while acknowledging that the children were at heightened risk of severe adverse events.

    The prioritization of policy agendas over science is not isolated to the pandemic. Protect the Public’s Trust’s research indicates that the FDA appears to have breached its obligation to uphold scientific integrity in its decision-making about vaping. We believe that the FDA knowingly disseminated scientifically unfounded statements about vaping products that were contrary to the FDA’s own research. Also ignoring its own research, and without proper scientific justification, the FDA overruled its own scientists’ recommendations to authorize menthol vapes.  

    The Biden administration often decries “misinformation” about anything contradicting its own narratives, but it appears to be one of the worst purveyors of misinformation. Citizens can’t trust a government that misrepresents the results of studies, or prevents the collection of, or even intentionally hides, data. The American public should expect that its science-based institutions and most prominent spokesmen follow the science and use the scientific method in reaching policy decisions. Unless these institutions and their leadership change course, public trust will continue to plummet.

    Tyler Durden
    Wed, 06/28/2023 – 20:20

  • $200 Billion In SBA Covid Relief Money Went To Fraudsters, Inspector General Reports
    $200 Billion In SBA Covid Relief Money Went To Fraudsters, Inspector General Reports

    The multifaceted toll of government mishandling of the Covid-19 pandemic grows ever larger.

    Last week brought another grim report on learning loss among children victimized by needless school shutdowns. On Tuesday, we learned that fraudsters scooped up more than $200 billion in Small Business Administration (SBA) Covid-19 relief money, according to a report from the SBA’s Office of Inspector General. 

    That represents a whopping 17% of the $1.2 trillion dished out by the SBA via Economic Injury Disaster Loans (EIDL) and the Paycheck Protection Program (PPP). The knowledge of major fraud in the SBA programs isn’t new, but the latest estimate of the damage is well higher than previous estimates.  

    One passage in the OIG report strikes a strong “I told you so” tone, with the SBA taken to task for ignoring the OIG’s warnings: 

    “Office of Inspector General (OIG) reports issued very early on warned of the importance of a strong internal control environment to mitigate fraud risk… 

    [However,] the agency weakened or removed the controls necessary to prevent fraudsters from easily gaining access to these programs and provide assurance that only eligible entities received funds.”

    The report offers examples of various types of fraud. One “sprawling conspiracy” centered on claims submitted for 1,300 fake businesses; its masterminds stole $140 million and the OIG said the estimate could rise to $625 million

    In another episode, a female US Army Chief Warrant Officer at Fort Stewart, Georgia teamed up with several other crooks to “scam the system 150 times over, securing $3 million for herself and those involved in the conspiracy,” the reports says.

    The OIG says its investigations have thus far contributed to 803 arrests, 529 convictions and the recovery of $30 billion, with tens of thousands of leads still being worked. 

    Former Georgia pastor Mack Devon Knight was sentenced to 29 months in prison for bilking the SBA out of $149,000 and buying a Mercedes-Benz S-Class sedan (Video screen-grab)

    The SBA accused its own watchdog of wildly overestimating the fraud, saying its own math suggests about $36 billion on fraud. Looking far more focused on defense than accountability, the agency also endeavored to claim that 86% of its fraud estimate took place while Trump was still in office

    The SBA OIG attributed $136 billion of the fraud to the EIDL program, which provided long-term, fixed-rate, low-interest loans to small businesses. Another $64 billion in fraud hit the PPP, which dished out loans to small businesses, individuals and nonprofits that were “affected” by the pandemic.  

    “About 1.6 million EIDL loans worth $114 billion are either past due, delinquent or in liquidation as of May, according to the report. More than 69,000 of these loans worth $3.2 billion have been written off. And more than 500,000 PPP loans have defaulted”  CNBC

    The SBA was just one of many government patsies hit with major fraud during the Covid-19 welfare orgy. In September, the Department of Labor OIG said some $45.6 billion in unemployment insurance was devoured by thieves whose handiwork included using the Social Security numbers of 205,766 dead people. 

    The Department of Agriculture was hit by one of the largest single scams, with more than 40 people linked to a Minnesota non-profit called Feeding Our Future charged with plundering $250 million from a program meant to feed needy children during the pandemic by operating upwards of 250 fake meal-assistance locations. 

    We all pay the price of the government’s Covid-relief incompetence, as the hundreds of billions of stolen money was created by the Federal Reserve, sapping everyone’s purchasing power and imposing what is ultimately a stealth tax with no maximum rate

    Tyler Durden
    Wed, 06/28/2023 – 20:00

  • Tucker Carlson Dares To Ask "Why Exactly Are We At War With Russia?"
    Tucker Carlson Dares To Ask “Why Exactly Are We At War With Russia?”

    “Why exactly are we at war with Russia?”

    Those are the verboten words that Tucker Carlson to utter at the start of Episode 7 Of his Tucker on Twitter series where he highlights the irony that the so-called ‘war for democracy’ is actually enabling dictatorship and tyranny.

    With nuclear extinction a possibility and 1000s of lives and billions of dollars already wasted, “what’s the point” he asks, “are we really doing this so that the Biden family can repay its debts to the oligarchs that financed their beachhouse.”

    “Thankfully” the former Fox News star explains, “we have an answer.”

    “The war against Putin and for Ukraine is in fact a war for democracy.”

    Sounds familiar?

    “Democracy must prevail” exclaims Nancy Pelosi as Carlson offers bipartisan examples of warmongers pushing for ‘democracy’ and all the military-industrial complex enrichment that comes with it.

    Carlson further mocks the rhetoric surrounding the war as a fight for democracy, highlighting the irony of supporting Ukrainian President Zelensky, who suspended democracy in his own country.

    we are currently fighting a war for democracy on behalf of a leader who just casually announced he’s happy to end democracy and our democracy and supporting leaders have no problem with that

    In fact, the Biden administration continual support for Ukraine despite Zelensky’s disregard for democracy, implies that their motives are questionable.

    He argues that during wartime, politicians become powerful and can justify any action, including silencing political opponents, leading to a potential erosion of democracy.

    Carlson suggests that those in Washington, including Republicans, support Biden’s stance on Ukraine because ending the war would threaten their power.

    He concludes by speculating on the future of Joe Biden, pointing out his age-related decline and potential implications for the Democratic Party, suggesting that Gavin Newsom may be a potential successor.

    Watch the full episode below:

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

    Full transcript below:

    Hey it’s Tucker Carlson, you may have found yourself wondering recently as the world slides closer to nuclear Annihilation than any time in human history why exactly are we at war with Russia.

    It seems like there’s a pretty significant downside to this particular foreign policy decision, starting with economic collapse and ending potentially with Extinction so is there a good reason we’re doing it so many innocent young people have been killed so many hundreds of billions of dollars have been wasted some of them from the U.S treasury so what’s the point are we really doing this so the Biden family can repay its debts to the oligarchs who finance their beach house in Rehoboth.

    We’re doing it so our government can continue to lie about its illicit bio labs in Eastern Europe so that flabby losers like Toria Newland and Tony Blinken can feel like they’re doing something important with their sad empty lives.

    Really honestly there’s got to be a better reason for waging this the most pointless war of all.

    What is it.

    Well thankfully we have an answer: the war against Russia ladies and gentlemen the war against Putin and for Ukraine is in fact a war for democracy.

    Watch and recall the motive the president has said many times “we’re focused on what we can do to support Ukraine’s effort to fight for their democracy”.

    “Democracy must prevail. The Ukrainian people are fighting the fight for their democracy and in doing so for ours as well.”

    “Assisting and helping Ukraine win this fight for democracy and freedom and of course Ukrainian president zielinski understand that what’s at stake in Ukraine is bigger than just his Nation it is literally a battle for freedom and democracy themselves.”

    “They are showing the world what an existential fight for democracy looks like.”

    “President Zelenky and the Ukrainians have changed the course of history for the better and we unequivocally are with the Ukrainian people in their fight to remain a sovereign democracy.

    Unequivocally with the Ukrainian people to remain in democracy it’s a bipartisan view democracy must Prevail.

    You just heard noted democracy expert Nancy Pelosi say the daughter of the mobbed up mayor of Baltimore as Pelosi puts it the Ukrainian people are fighting the fight for their democracy and for ours as well that’s right for ours as well without Ukrainian democracy in other words we can have no democracy here if the ukrainians aren’t free.

    Neither are we we must make sure they can vote in Kiev so we can continue to vote in Kansas City.

    It’s really that simple and yet tonight we regret to tell you that we have a problem it looks like they’re not going to be able to vote in Kiev anymore and no for once it’s not Putin’s fault.

    Democracy in Ukraine seems to be suspended by the world’s foremost democracy Advocate himself Field Marshal zielinski.

    Watch:

    If we win” he says “we’ll let people vote otherwise no you vote” and we feel like it because ultimately we’re completely in charge and make all the rules.

    Your job is to obey or be punished.

    That’s our version of self-government.

    Self means me – I’m the government now.

    That’s not just any autocrat that’s our chief Ally in the war for democracy.

    This is the guy who just announced he’s like did you cancel next year’s elections.

    So you’ve got to wonder what the Biden Administration thinks of this – we can’t possibly continue to support zielinski, that guy, after he said that can we because in a clip less than 30 seconds long he just blew up our entire rationale for supporting his side in the war.

    So we can’t support him.

    Oh of course we can and we will.

    Here’s Joe Biden from yesterday reaffirming America’s unequivocal support for Ukraine no matter what happened in Russia “we the United States should continue to support Ukraine’s defense and its sovereignty and its territorial integrity”.

    So to recap we are currently fighting a war for democracy on behalf of a leader who just casually announced he’s happy to end democracy and our democracy and supporting leaders have no problem with that in fact they’re strongly for it.

    Shocked?

    You shouldn’t be.

    Of course they’re for it. You should have seen this coming.

    Wars for democracy always cancel democracy in the process – that’s why our leaders love them and they all do it – even The Virtuous leaders Abraham Lincoln suspended habeas corpus, the British government under Winston Churchill through an entire opposition party into prison and let them rot for the duration – in some cases with their families.

    So in a war for democracy you can do anything.

    Imagine what a man might do who has fewer principles.

    If that man say ran Ukraine he might seize churches arrest priests ban all criticism of himself disappear his political opponents and that’s happening.

    Just last month zelinski threw a man called Gonzalo Lira into prison indefinitely for the crime of daring to write about the Ukrainian government in unflattering ways.

    Now what’s interesting what separates this from other such cases is that lira is an American citizen, so Joe Biden who was quite a bit of SWAT as they say in Ukraine could have freed Gonzalo Lira within hours, but he didn’t. He didn’t want to – he didn’t say a word about it – he remains in prison tonight.

    So that makes you wonder what’s the real motive here when normal people see War they see death and destruction, sadness and suffering; but that’s not what demagogues see – they understand it differently they know that War means power mostly for them.

    During wartime everything they do can be justified – war is the gravest of all emergencies – imagine the coveted lockdowns times a thousand plus drones.

    Once War breaks out politicians become Gods with the power of life and death. So in a peaceful democracy you have to debate your political opponents in public and that’s tiresome but in a war for democracy you can just throw them in jail or have them executed. You can see that many in Washington are looking forward to that moment and that may be why they so fervently support Joe Biden – even many Republicans – against a potential opponent – the only opponent who opposes the war in Ukraine.

    If you were to end the war their power would evaporate.

    Last week a whistleblower produced WhatsApp messages from Hunter Biden proving that at the very least his father knew about his influence peddling businesses abroad and probably participated in them “I’m sitting here with my father” Hunter Biden wrote to his Chinese Partners demanding money as much as anything reported about the bidens over the last several years this was The Smoking Gun.

    There it is right there in the message that would have been enough to a normal president it would have been more than enough to keep a normal president from running for office again but had virtually no effect on Joe Biden.

    Most media Outlets ignored it completely or tried to spin Biden’s relationship with his son as some kind of moral Victory “the real meaning of the hunter Biden Saga as I see it” wrote Nick Kristoff of the New York Times “isn’t about presidential corruption but is about how widespread addiction is and about how a determined parent with unconditional love can sometimes reel a child back.”

    He actually wrote that and if you doubt it you should know that view was common.Here’s the take from ABC “the hunter Biden story, the Scandal, the this, that, it’s also the story of a Father’s Love and Joe Biden has never and will never give up on his son Hunter and will never treat him lesser than and so he is a father first take it or leave it.

    So whistleblower produces a text message showing that Joe Biden was in the room with his son when his son was selling influence to an enemy power the Chinese government and ABC’s take on it Joe Biden is a father first take it or leave it.

    What accounts for a response like that?

    Well that’s the way you talk when you’ve got nothing to fear from an upcoming presidential election – you don’t even bother to think of an excuse for your candidate because you don’t need to. Your country has electronic voting machines – Joe Biden got 81 million votes in 2020 and you’re pretty sure he can do it again.

    In fact you know he can you’re not worried but actually they should be a little worried

    The people who control Joe Biden – Susan Rice and the rest – know they can continue to run our government, writing the press releases, formulating the policies, and they can do it effectively forever, as long as Joe Biden gets dressed in the morning, and of course that’s their strong preference.

    These are fervent opponents of change but the one thing these people cannot control is aging.

    Joe Biden is old he’s 80 now he will be 85 at the end of the next term.

    People imagine that old age is a long predictable progression from Acuity to permanent unconsciousness but often that’s not at all how it actually works.

    When old people start to slide they tend to Slide fast.

    Joe Biden has begun that descent.

    Here he was yesterday and here’s what she wrote to me and I quote you can imagine my joy she called them right away and the next day they sent someone out to survey her yard as Beth wrote this is the best thing that’s happened in Rural America since the rural electrification act for electricity to farms in the 30s and 40s end of quote.”

    End of quote you weren’t supposed to hear that – Joe Biden read the stage directions out loud –  that’s like eating the garnish that comes with your entree you’re supposed to know not to do that.

    Joe Biden no longer does in a year or two he will be gone completely and there will be no hiding it at that point the Democratic party will face a secession problem.

    If Joe Biden is re-elected next year and then forced to leave office during his term due to disability or death that means Kamala Harris will become president of the United States and nobody wants that not even her husband.

    In real life nobody likes Kamala Harris.

    That’s not an attack on her in fact it’s possible to feel pity for someone who’s so universally reviled. It is instead an observation of unchanging physical reality like gravity or photosynthesis nobody wants Kamala Harris to be president no one will benefit if she becomes president so logic suggests there’s going to be a change.

    It’s going to have to be somebody else and whoever that person is is going to have to enter the race soon before the election after Biden drops out.

    Who could that person be? We don’t know obviously this is all just guessing but we do know whoever that is we’ll have to have two essential criteria he’ll have to be as shallow ruthless and transactional as Joe Biden is and he’ll need to have flattery skills that are so polished and advanced they’d be considered Superior even in the Saudi Royal Court and there’s only one man in modern America who fits that description Gavin Newsom the governor of California and perhaps not coincidentally Joe Biden’s new closest friend.

    “I am here Mr President” Newsom told Biden at an event that they did together last week. “I am here as a proud American as a proud Californian mesmerized by not just your faith and your Devotion to this country and the world we’re trying to build but by your results by your action by your passion by Your Capacity to deliver.”

    I get mesmerized by you Joe Biden – imagine saying that as a compliment you couldn’t do it.

    Few human beings could do it but Gavin Newsom had no problem at all those words rolled right off his Fork tongue. He never stopped smiling so if you’re looking for the leader of the coup there he is right there she’s in Kennedy’s motorcade.

    Tyler Durden
    Wed, 06/28/2023 – 19:55

  • Why AirBnB Owners Are About To Be Forced Property Sellers
    Why AirBnB Owners Are About To Be Forced Property Sellers

    Authored by Nick Gerli via Reventure Consulting,

    Many Airbnb owners will soon be forced to sell their properties, resulting in a housing bust that could be on par with the 2008 Subprime Crisis in some cities.

    These Airbnb owners are getting ready to sell because of “Airbnb bust”, a downturn in the short-term rental market that started in the second half of 2022, with Airbnb operators in some cities facing a 50% decline in revenue. These declining revenues are the result of a slowdown in post-pandemic travel demand to go along with a massive increase in Airbnb supply, trends which are now causing many Airbnb operators to lose money on their rental.

    I believe these losses will cause a wave of distressed selling from Airbnb operators in 2023 and 2024, particularly in cities where:

    1) revenue has crashed the most, and

    2) Airbnb supply increased the most

    If you’re a homebuyer or real estate investor it’s important to understand the exposure your city and neighborhood has to the Airbnb crash, particularly the timing and depth of the downturn. Because when it all shakes out, I believe that there will be some great buying opportunities for homebuyers and investors across the real estate spectrum.

    So, without further ado, let’s dive into the data.

    (Note that when I refer to “Airbnb” in this article, I am referring to the broader short-term rental market, which includes listings found on Airbnb, VRBO, Booking.com, and other travel sites.)

    65% more Airbnbs than Homes for Sale in 2023

    But before getting into the city-specific data, it’s important to understand the broader national trends. Most notably, that the number of Airbnb rentals in America has skyrocketed from less than 200,000 seven years ago to nearly 1 million in 2023 according to data from AllTheRooms.

    At the same time, the number of homes Listed For Sale has plummeted, dropping from roughly 1.2 million prior to the pandemic to less than 600,000 today according to data from Realtor.com. The result is that there are currently 65% more homes listed for rent on Airbnb than listed For Sale.

    There are nearly 1 million homes listed on Airbnb in 2023, compared to only 570k listed for sale (Source: AllTheRooms / Realtor.com)

    The rise in Airbnb rentals was caused by 1) investors buying up houses to rent out short-term and 2) existing homeowners deciding to list their houses on Airbnb instead of selling them. A double whammy, one-two punch that has sucked inventory out of the US Housing Market.

    50% Crash in Airbnb Revenue reported in some Cities

    But there are now signs that this trend of increased Airbnb listings might be coming to an end as the market reaches saturation in 2023, with Airbnb’s CEO warning of a “booking slowdown”. At the same time, vacation rental management companies reported a 13% drop in revenue per property in the first quarter of 2023.

    Clearly, something is up, with the deluge of Airbnb supply over the last several years now intersecting with a recessionary slowdown in travel demand. A cocktail which is leading to a collapse in revenue for Airbnb operators across America.

    The collapse is most notable in the Southwest and Mountain West areas of the country, where Airbnb revenue per listing is down 40-50% YoY. With owners in cities such as Austin, Phoenix, Denver, and San Antonio taking the hardest hit according to data from AllTheRooms.

    But the declines weren’t isolated to these areas. Of the 182 counties in America with the most short-term rental listings, revenues were down in 179 of them (98%), with the average county experiencing a 29% decline in revenue per listing comparing the three-month period from March to May 2023 to the previous year.

    Phoenix is ground zero for Airbnb Bust

    The epicenter of Airbnb bust is undoubtedly Phoenix, AZ, a market that is now plagued with a huge glut of short-term rental supply, with the number of Airbnb rentals in Maricopa County increasing by 500% over the last seven years.

    Much of that listing growth has come in the last 15 months, as a downturn in the Phoenix housing market pushed many owners to list their properties on Airbnb instead of selling them. The result was that Airbnb supply increased from 10,000 in early 2022 to nearly 18,000 today.

    Airbnb listings in Phoenix have increased 500% in the last seven years (Source: AllTheRooms)

    At the same time, For Sale listings on the Phoenix housing market have plummeted, dropping from an average of 14,000 prior to the pandemic to 7,800 in May 2023.

    This has caused the short-term rental Supply Ratio in Phoenix, a metric calculated by dividing Airbnb listings in by homes For Sale. The resulting ratio in Phoenix is 2.3x, which indicates there are 2.3 listings on Airbnb for every 1 house listed for sale.

    The short-rental Supply Ratio in Phoenix is currently at 2.3x compared to a 1.0x long-term average (Source: AllTheRooms / Realtor.com)

    The historical Supply Ratio in Maricopa County is much lower at 1.0x, reinforcing the notion that the area’s Airbnb market is oversupplied while its For Sale market is undersupplied. A situation that will likely correct itself in coming years as struggling Airbnb owners elect to sell their properties.

    In some cities, this correction could be on par with the Subprime Crisis in terms of how much inventory hits the market. Particularly in an area like Sevierville, a vacation destination in East Tennessee, where the number of Airbnbs currently outnumbers the homes For Sale by 10 to 1!

    How does this 10:1 Airbnb Supply Ratio in Sevierville play out in the coming months and years as the Recession worsens and travel demand drops further? No one knows for sure. But a scenario where For Sale inventory doubles or triples in a short period of time is entirely possible.

    The Airbnb selloff will happen in urban Neighborhoods. And Vacation Destinations.

    The oncoming Airbnb bust in America will be primarily felt in two types of locations:

    1) dense, urban areas that have the most Airbnb inventory in big cities, and

    2) vacation destinations.

    You can get a sense of this urban-area exposure in big cities by looking at the Airbnb heatmap below from AllTheRooms, which shows that Phoenix Airbnbs cluster in four main pockets: 1) Downtown Phoenix, 2) Scottsdale, 3) Paradise Valley, and 4) Tempe.

    Heatmap of Airbnb supply across Maricopa County (Source: AllTheRooms)

    These four areas account for roughly 65% of the short-term rental inventory in Maricopa County, and thus will be the most negatively impacted from an Airbnb owner selloff. Meanwhile, outlying suburban and rural neighborhoods will be less impacted since they have a much lower share of Airbnb inventory.

    You can get an even better sense of this by looking at the short-term rental Supply Ratio across a metro like Austin, TX, another area that’s been hard-hit by Airbnb bust. In Travis County, which is the main urban county in Austin, there are nearly 9,200 rentals on Airbnb compared to 4,000 listings For Sale, good for a hefty 2.3x supply ratio.

    But in Williamson County, the suburban area to the north of Austin, the situation is flipped and there are more homes listed for sale. With the implication being that the Airbnb bust is going to hit the urban Travis County much harder than suburban Williamson County.

    However, the more rural one goes, especially to vacation destinations, the more Airbnbs begin to pop-up once again. Nearby Fredericksburg, TX, located about two hours west of Austin, has a Supply Ratio of 6.3x, indicating that there are over 6 Airbnb Listings for every one house for sale. Highlighting the potential for big price declines as Airbnb bust worsens.

    Expect to see more For Rent signs as well

    Of course – an Airbnb owner that runs into financial distress might not have to sell. Instead, they could decide to rent out their property long-term, a trend that I suspect is already happening given the flood of rental inventory that has hit the market over the last year.

    For instance, in a metro like Nashville, TN, a fairly big Airbnb market, the number of vacant apartment rentals has recently skyrocketed, nearly doubling over the last 15 months all the way up to an 8.0% vacancy rate. This surge in apartment vacancies is similarly echoed in Airbnb-heavy metros like Dallas, Phoenix, Las Vegas, and Tampa.

    The apartment vacancy rate in cities like Nashville has skyrocketed (Source: Apartmentlist.com)

    Meanwhile, the number of vacant houses for rent has also skyrocketed in the same period, increasing from 43,000 houses available across America’s 54 largest counties in March 2022 to nearly 80,000 today (meaning that the number of vacant houses for rent has nearly doubled in the last year).

    The number of vacant houses for rent in 54 large counties across America (Source: Reventure Consulting / Zillow)

    But what if this surge in rental inventory worsens in coming months as more Airbnb operators try out the long-term rental market? Well, it could provide a shock that many institutional landlords are not expecting.

    In a place like Maricopa County in Phoenix, roughly 59% of the Airbnb supply is comprised of houses according to AllTheRooms. That compares to 13% condos, 9% apartments, and 20% of guesthouses/other.

    Airbnb Supply breakdown in Maricopa County, AZ (Source: AllTheRooms)

    Indicating that biggest surge in rental inventory from Airbnb bust in Phoenix would likely come in the form of houses hitting the market for rent in neighborhoods like Downtown, Scottsdale, Paradise Valley, and Tempe. Such a big surge in rental inventory in such a concentrated area has the potential to cause a massive drop in rents.

    Cities where Airbnbs are Performing Better

    It’s also important to remember that real estate is local, and that not every city or neighborhood is getting hit by Airbnb bust. In fact, some parts of America are experiencing increased Airbnb demand over the last year even as the broader market tanks.

    One of these areas is Washington DC, where gross Airbnb revenues are still up 1.6% YoY, while revenue per listing is only down -6%. The reason that DC is holding up better is because there has been a return to big cities over the last year since the pandemic ended, increasing demand for short-term stays. Moreover, Washington DC never got hit with the same surge in Airbnb supply as other cities, with its number of operating Airbnbs today about 15% lower than in 2019.

    Another area to watch is Milwaukee, WI. Gross market revenues are up 5.2% YoY while revenue per listing is only down -15% (much better than the -50% in an area like Phoenix). Milwaukee’s main draw is a lack of Airbnb supply competition, with the market being the rare case where the number of homes for sale is higher than the Airbnb listings.

    Of course, Airbnb investors in 2023 needs to be very careful, because I suspect we are just at the start of Airbnb bust. Over the next year we will likely see more layoffs and a higher unemployment rate in America, which will weigh further on travel demand and profits.

    Airbnb bust creates opportunity for Homebuyers and Investors

    Finally, I’d like to conclude with some perspective. I believe that Airbnb bust is a positive trend that will help to rebalance the real estate market and provide fresh opportunity to a new batch of homebuyers and investors in 2023 and 2024.

    Once the current level of Airbnb supply starts to drop, that should correlate with an increase in both For Sale and For Rent inventory that pushes home prices and rents down further. Enabling homebuyers and long-term real estate investors who have been waiting on the sidelines to re-enter the market.

    At the same time, once the Airbnb supply drops enough, it will stabilize the short-term rental market and eventually cause revenues to start going back up. Which will inevitably create fresh opportunity for aspiring Airbnb investors, particularly in hard-hit markets.

    The depth and timing of the downturn, and the resulting opportunity created by the downturn, really depends on the city you’re in as well as your specific neigborhood. Is your area oversupplied in terms of Airbnbs? If so, by how much? Are revenues dropping? Those are worthwhile questions for homebuyers and investors to figure out the answers to in 2023.

    Data in this Post / YouTube Video

    The data in this post came from two principal sources:

    1) Data on Airbnb revenues and supply comes from AllTheRooms, a short-term rental data tracking service.

    2) Data on For Sale Inventory comes from Realtor.com. This data can also be found on Reventure App.

    Also stay tuned for a YouTube video on this topic coming later today. You won’t want to miss it.

    -Nick

    Tyler Durden
    Wed, 06/28/2023 – 19:40

  • French Fighter Jet Intercepts 'Polish Barry Seal' As Pilot Dumps Cocaine
    French Fighter Jet Intercepts ‘Polish Barry Seal’ As Pilot Dumps Cocaine

    On Saturday, a French fighter jet intercepted a small aircraft in southeast France. As the jet neared, the pilot began dumping bags of suspected cocaine from the plane, according to Agence France-Presse

    The single-seater tourist plane flew in the remote Ardèche region when the pilot breached highly restricted airspace around a nuclear power plant. AFP said the French Air Force dispatched a Dassault Rafale to intercept the small aircraft that was “judged to be maneuvering suspiciously.” 

    A military spokesperson said the fighter pilot “witnessed very erratic behavior in the cockpit (of the tourist plane), real agitation.” Over a few minutes, what happened next is like a scene from Tom Cruise’s film “American Made” when the actor portrayed cocaine smuggler Barry Seal. 

    The fighter pilot said the man opened the plane door and tossed out packages. Investigators found 15 packages on the ground containing about 66 pounds (or 30kg) of ‘white power.’  

    AFP said investigators are analyzing the white powder, and we’re sure the suspected trafficker, a Polish national with a past drugs offense, wasn’t dangerously flying around with baby powder…

    Separately, the latest global cocaine trends were released by the United Nations Office on Drugs and Crime on Monday. They found a “prolonged surge in both supply and demand of cocaine, which is now being felt across the globe and is likely to spur the development of new markets beyond the traditional confines.” 

    That may be why French authorities seized a record 156.7 tons of drugs last year. As for the ‘Polish’ version of Barry Seal… We can only imagine.

    Here’s a clip from American Made.  

    Tyler Durden
    Wed, 06/28/2023 – 19:20

  • The Left And Their Union Masters
    The Left And Their Union Masters

    Authored by Aaron White via RealClear Wire,

    If political rhetoric was subject to the same rigid labeling standards American manufacturers are expected to meet, liberals would have to call themselves something else.

    The term was undoubtedly test-marketed to evoke the image of someone more broadminded and generally more tolerant of others’ points of view.

    Does that describe any leftist you know?

    When liberals claim to prize diversity above virtually any other commodity, they’re referring only to differences in things that don’t matter and, by their own admission, human beings are born to be. Things like race, gender and sexual orientation.

    Opinions and actions, on the other hand, are fair game for the most soul-crushing forms of discrimination.

    If that sounds like an exaggeration, you haven’t ventured onto a college campus or spent time on social media platforms, whose sole purpose is to quash viewpoints with which those in power disagree.

    Less obvious to the naked eye, unfortunately, is perhaps the single-largest funding source for this toxic ideology — organized labor in general and government employee unions in particular.

    Because the whole idea of collective bargaining is based on excusing a relative handful of union members from the forces of supply and demand with which unorganized workers must contend, it only follows that union leaders would be suspicious, at best, of America’s market-driven economy. But at least those representing workers in the private sector understand their demands must be tempered by the employer’s need to earn profits.

    Government employee unions, however, recognize no such constraints.

    Members of groups like the Service Employees International Union (SEIU), the American Federation of State, County and Municipal Employees (AFSCME) and teachers’ unions like the National Education Association (NEA) and the American Federation of Teachers (AFT) are paid by tax dollars funneled through public employees’ paychecks. Consequently, leaders of their unions have a vested interest in growing the size and scope of government, regardless of how that impacts the rest of us.

    Unlike their peers in the real world, government union leaders know they aren’t dependent on the goodwill of millions of consumers, so they generally don’t care about whether their membership agrees with their stances. And if they don’t agree, they rely on bullying strategies to stop them from leaving and the overall size of government growing. So they focus on working with greedy politicians who can raise the taxes needed to advance a liberal agenda that has nothing whatsoever to do with workers’ pay or working conditions.

    For example:

    • At the height of the COVID pandemic, leaders of the United Teachers of Los Angeles (UTLA) demanded the defunding of law enforcement and universal Medicare in return for returning to the classroom;
    • The NEA used its 2020-21 annual conference to debate a pair of resolutions expressing the group’s public support for Palestinian statehood and condemn Israel’s “ethnic cleansing” of Palestinians;
    • AFT President Randi Weingarten has used her union to wage a massive assault on the Second Amendment — including outright weapon confiscation — saying the U.S. must follow “what other great democracies” have done to ban guns;
    • Under President Mary Kay Henry, the SEIU in 2022 partnered with the Green New Deal Network for a series of protests to present a united front on climate legislation as they urged Congress to pass President Biden’s bloated “Build Back Better” proposal before the midterms; and,
    • Declaring that “racial, social and economic equality are top priorities for AFSCME,” the union in 2018 adopted Resolution 51, calling for, among many things, “bias training, which helps identify built-in prejudices.”

    The Left has long accused conservative political candidates and causes of being funded by huge, faceless corporate interests — a notion thoroughly invalidated, incidentally, via such companies Anheuser-Busch, Target and Disney, whose recent missteps had nothing to do with profits and everything to do with the far-Left ideologies of their leaders.

    But even if it were true that Wall Street uniformly skewed right while unions backed the Left, there’s an important distinction: However much the Kochs or the Waltons have spent on conservative legislation, at least it’s their money. Unions, meanwhile, confiscate billions of dues dollars every year from the paychecks of millions of government employees who think it’s being spent on representation and use it to underwrite a radical, leftist ideology perhaps half their members don’t even share. 

    In theory, this should no longer be the case. In 2018, the U.S. Supreme Court, in Janus v. AFSCME, affirmed that union membership and dues and/or agency fees could no longer be made mandatory, as they had been for public employees in nearly half the country for generations. But unions responded by adopting a laundry list of strategies intended to blunt the court’s unambiguous intent — everything from suppressing information about the ruling to filing lawsuits against members seeking to opt out of union affiliation and even forging workers’ names on membership documents.

    Since Janus, government employee unions have lost nearly 800,000 members, taking with them billions in dues revenue that can never again be used to fund a machine that suppresses the rights of its own members in order to advance policies that rob the rest of us our God-given freedoms.

    But they’re still kicking.

    The struggle to expose labor’s unsavory role in the process is being waged battle by battle, but the war isn’t yet won.

    Aaron Withe is the CEO of the Freedom Foundation, a national public policy watchdog focusing on government employee unions. His first book, “Freedom is the Foundation,” was released this month.

    Tyler Durden
    Wed, 06/28/2023 – 19:00

  • There Were At Least 13 Campus Hate-Crime Hoaxes This School Year
    There Were At Least 13 Campus Hate-Crime Hoaxes This School Year

    Authored by Matt Lamb via The College Fix,

    The 2022-23 school year saw 13 hate crime hoaxes and six questionable claims, according to a College Fix analysis.

     

     

    Sports competitions continue to oddly be a source for race hoaxes, despite the omnipresence of phones that can capture alleged racial slurs.

    Pennsylvania State University fans found themselves falsely accused of using racial slurs against Rutgers University’s men’s basketball team. “Further investigation into reported fan behavior at the Penn State versus Rutgers basketball game on [Feb. 26] has found that no apparent racial slurs were used by Penn State fans,” the university announced.

    By now, it should be clear that claims of racial slurs at sports games are likely not true.

    The hoax that attracted the most attention of them all began in August, when Duke University volleyball player Rachel Richardson claimed that someone at a game against Brigham Young University kept yelling the n-word at her. This is actually two hate crime hoaxes, because her godmother also claimed that someone yelled the word every single time the black volleyball player went to serve.

    The hoax led the University of South Carolina women’s basketball coach to cancel a game against BYU, even after the hoax had been debunked. The University of Pacific canceled its game against BYU after the debunked hoax as well.

    August was a busy time for hate crime hoaxes, as that is when a black female in a “head scarf” named Zaynab Bintabdul-Hadijakien was charged for an attack on the Black Cultural Center. UVA officials would not identify the suspect, and even a police report redacted her race, but The Fix dug around and found out she is a black female.

    Even when a black Democrat at Harvard University stood accused of yelling a “homophobic slur” at a peer, LGBT students on campus blamed the pro-life club. This did not appear to be part of a rhetorical exercise, like when the president of MIT’s student government perpetrated two campus hate-crime hoaxes, hanging posters and chalking slurs against LGBTQ people, Latinos and other “marginalized communities,” to protest free speech.

    He was not the only LGBT person who left slurs for others in his tribe. For example, a “non-binary” University of Connecticut student found “homophobic language” on a dorm room door – but the culprits were other LGBTQ students.

    Other race hoaxes this school year include: the juvenile allegedly behind the bomb threats against historically black colleges and universities, a black man who trashed the University of Florida’s Institute for Black Culture sign, and the claim that white students surrounded a black female student at Sam Houston State University and poured water on her.

    The university told The Fix in September 2022 that police were “unable to verify” the claim.

    Race hoaxes are trickling down to the high school level as well, including the “White Power” graffiti left by Hispanic gangs at an Idaho high school and the two black students who circulated a “racist anti-Black caricature”at a high school in Sacramento, a common place for hate crime hoaxes.

    Not confirmed, but seems questionable

    The school year also saw questionable claims of hate crimes which were never confirmed or disproven.

    Most recently, The Fix reported that Eastern Washington University police closed an investigation into the n-word written on a mirror in a dance studio on campus. The Black Student Union reported finding the word after class.

    LGBT individuals at Harvard University claimed they received an email, echoing the language used by hoax perpetrator Jussie Smollett, that Cambridge was “MAGA Country.” Subsequent reporting by The Fix noted that the university quietly closed the investigation without telling anyone.

    Similarly, American University would not divulge the race of the suspect who wrote “Black people suck.”

    Black students at Grinnell College in Iowa claimed there had been “14 vehicles” vandalized, though students never reported it to the local police department. Campus safety was informed, however.

    However, sometimes hate crimes, or at least hateful acts between two races or religions, do occur.

    A black individual and two white friends wrote a racial slur on a black student’s dorm, although the police never charged anyone with a hate crime. Alston Willis was charged with harassment while the other individuals were given a warning for trespassing.

    In a more serious crime, three black teens were charged with misdemeanor battery charges for assaulting a Chinese University of Wisconsin Madison student.

    Finally, law enforcement closed an investigation into a racist letter allegedly sent to a University of Cincinnati Professor Antar Tichavakunda after he refused to answer questions from the police.

    The scholar claimed he received a letter which advocated for America to be “ethnically cleansed” and claimed black people shouldn’t be in school because “schools are for human beings not black afterbirth.”

    Special mention

    While not exactly a campus hate crime in the sense that it was perpetrated by a student or professor or occurred at a school, special mention goes to the academics who rushed to blame a deadly attack on an LGBT club on the “right-wing” — however, the suspect, who recently pled guilty to five murder charges identifies as “non-binary.”

    “I have no doubt in the coming days we will learn that the motive of the 22 year old young person who turned to violence was influenced by hateful rhetoric online and within right-wing media,” University at Buffalo Professor Ben Fabian commented soon after the shooting in a message to his peers.

    That claim, like so many other hate crime allegations, has been debunked.

    Tyler Durden
    Wed, 06/28/2023 – 18:20

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Today’s News 28th June 2023

  • VW Curbs EV Production As EU Demand Falters Amid Gloomier Economic Picture
    VW Curbs EV Production As EU Demand Falters Amid Gloomier Economic Picture

    German newspaper Nordwest-Zeitung reports Volkswagen has temporarily reduced the production of electric vehicles at one of its plants.

    Volkswagen’s Emden plant in Lower Saxony has reduced production of the electric ID.4 compact SUV and ID.7 sedan for the next two weeks because of weakening sales. 

    Industry blog Autocar reported Manfred Wulff, head of the works council for the Emden plant, told German Press Agency in an earlier article published by the North West newspaper that while EV production was being reduced, production of combustion-engine models, including the Volkswagen Passat, are unaffected. 

    Wulff said 300 of the current 1,500 temporary workers employed at the plant would not have their contracts renewed in August. And he noted EV demand is 30% below planned production figures. 

    “We are experiencing strong customer reluctance in the electric vehicle sector,” he told the North West.

    Wulff noted that the ID 7 saloon, planned to start production in July, would be delayed to “later this year.” 

    North West interviewed the minister of economic affairs for Lower Saxony, Olaf Lies, who said, “Registration numbers of electric vehicles continue to be high, but what concerns us is the current dip in demand – not only at Volkswagen but across all manufacturers.” 

    The timing of this news comes as the eurozone economy was in a technical recession in the first three months of 2023.

    The contraction was due to a downward revised second estimate from Germany’s statistics office showing that the eurozone’s largest economy was in recession in early 2023. 

    A downturn in the euro area economy is weighing on demand for large ticket items, like fancy EVs. Many on the continent have been dealing with the highest energy and food inflation in a generation as living standards plunge. 

    Stifel analyst Daniel Schwarz commented on the news. He said, “Reducing the number of temps and canceling a shift signals that VW is not expecting this to improve in the short term.” 

    Could we be witnessing the beginning innings of EV demand cracking?  

    Tyler Durden
    Wed, 06/28/2023 – 02:45

  • AfD's Success Is A Warning Sign To Europe's Mainstream Parties
    AfD’s Success Is A Warning Sign To Europe’s Mainstream Parties

    Authored by László Szőcs via Remix News,

    AfD’s recent successes are a warning to politicians that Europe is not being led as people want it to be…

    All politics is local politics — this time, the lessons of this established axiom in America are being learned in Germany. On Sunday, the most right-wing party in the German parliament, the anti-immigration Alternative for Germany (AfD), achieved its first electoral breakthrough in 10 years: Its victory in the Sonneberg district of Thuringia marked the first time it has become part of a local executive.

    The significance of this should neither be overestimated nor underestimated. The AfD continues to be seen as a pariah in the German political system. It’s a party with which neither the center-right CDU/CSU alliance nor the parties to its left are willing to form a coalition, neither at the federal nor state level. At the same time, according to newspaper reports on Monday, the AfD’s breakthrough has caused serious unease and fear among Jewish and Turkish organizations in Germany. Some are claiming a general crisis of democracy.

    Although the AfD is often described simply as anti-immigration, it is much more than that. Thuringia has the fifth-lowest proportion of immigrants of the 16 federal states, just a few percent, which is in line with the overall picture in east Germany, even if the proportion has risen sharply in recent years. And Thuringia is not a backward, underdeveloped region either. Sonneberg on the Bavarian border, for example, is part of the European metropolitan region of Nuremberg. When my photographer colleague and I were there on a reporting trip ahead of the 2021 Bundestag elections, traveling from Gera to Erfurt and Mühlhausen, we encountered many signs of discontent with the Merkel era in a province where the greats of German culture — Bach, Schiller, Herder, Goethe — all made their mark.

    “Today, Germany is unfortunately far from being a democracy. In a democracy, other voices, including conservative ones, should be heard,” said Günter Oßwald, who, contrary to the stereotype, is not a marginalized, beer-swilling, unemployed man on a housing estate, but someone who employs 150 people in his car parts business in Mühlhausen.

    Angela Merkel was — at least on paper — a conservative head of government. However, the supposedly center-right CDU/CSU coalition, the leading opposition force in Germany, has not yet overcome Merkel’s turn to the left and is unable to capture a large enough share of the right-wing electorate. The AfD is polling at 19 percent of the vote nationwide, overtaking the leading government party, the Social Democrats, and is in second place behind the Christian Union parties.

    The forthcoming east German state elections could also confirm that dissatisfaction with the mainstream is making the AfD the most popular party in the eastern federal states — the former communist GDR. There is no communist nostalgia in this. As Timothy Garton Ash, who has been traveling in Germany, wrote 30 years ago, the Americanization of the GDR was more visibly successful than the Sovietization of GDR society. The far left in the east has an obvious upper limit, despite the fact that post-communists have manifested themselves in Bodo Ramelow, who is the prime minister of Thuringia.

    Although it is only one district in Thuringia, the AfD’s victory in Germany is the latest warning sign for the European mainstream — which despises ordinary citizens — ahead of next year’s EU elections.

    In Austria, the like-minded Freedom Party of Austria (FPÖ) is the most popular, while in France the National Rally is gaining strength. Sunday saw a conservative election victory in Greece, and in July, the ball is set to continue in Spain. Citizens in more and more places are openly fed up with the way Europe is being run today.

    Tyler Durden
    Wed, 06/28/2023 – 02:00

  • Escobar On Russia's Coup-Gate: Putin Wins… On All Counts
    Escobar On Russia’s Coup-Gate: Putin Wins… On All Counts

    Authored by Pepe Escobar,

    When the lightning of History strikes, better cut to the chase in our first draft…

    Here we go.

    After the extraordinary events in Russia during The Longest Day, President Putin wins on all counts.

    Among other feats, he has made an absolute, inter-galactic ass of the whole collective West MSM – all over again.

    He rallied virtually every Russian to end the Special Military Operation (SMO) – or “almost war” (according to some business circles) quicker.

    He – and the FSB – amassed a formidable list of traitors and 5th and 6th columnists, which will be properly dealt with.

    And he now enjoys unlimited freedom to deploy de facto Counter-Terrorist Operation (CTO) martial law powers.

    As much as Putin helped perennial Lukashenko in August 2020, preventing regime change in Belarus, good ol’ Luka prevented Russia from sliding into civil war in June 2023.

    A complex wide-ranging counter-terror op is now in effect in Moscow and beyond, while assorted Western sub-zoology specimens are stunned, dazed and confused: wasn’t that supposed to be Putin meeting his Czar Nicholas II moment?

    A first glance at the chessboard tells us that all the pieces seem to be falling in their right places.

    • Prighozin gets a golden parachute in Belarus.

    • Shoigu may be about to be sacked, perhaps even Gerasimov (yes, there are deeply dysfunctional layers inside the Ministry of Defense).

    • The Wagner musicians will be incorporated as a regular Army Corps.

    • They may keep doing business in Africa: demand is huge.

    So what really happened after The Longest Day?

    Hefty CIA funds may have changed hands. But in the end the “coup” could turn out to be the Greatest Russian Trolling of the West Ever.

    The Mother of All Maskirovkas

    Once again, facts on the ground prove Putin is the undisputed champion of Russia. After keeping a strategic silence for a few hours, his intervention gathered full support from the civilian population, the FSB, the Chechens, the Army, the Communists, everyone.

    The exact terms of the deal between Luka and Prighozin, with help from the governor of the Tula region, Alexey Dyumin, are still unclear.

    Prighozin said he was satisfied with the terms. Peskov confirmed on the record that a criminal case against Prigozhin would be dropped. A key Prighozin demand was the twin resignation of Defense Minister Shoigu and Chief of Staff Gerasimov. That may – or may not – happen in the immediate future.

    And that brings us to the still fascinating possibility this was the Mother of All Maskirovkas. Prigozhin sets up all this circus just to get a meeting in Moscow with Shoigu and Gerasimov.

    Talk about an overkill just to go out on a date.

    The Mother of All Maskirovkas scenario also implies a move worthy of 5D chess.

    On Saturday, Wagner was 200 km away from Moscow.

    Yet on Sunday, Wagner was 100 km away from Kiev.

    Next level Sun Tzu Art of War, anyone?

    Between sovereignty and betrayal

    Alexander Dugin correctly points out how this was also an exercise in Sovereignty: “Only Sovereign Lukashenko, together with Sovereign Putin himself, confronted [Prighozin]…It turned out that many can frame the President and the people, acting in the shadows and apparently on his behalf, but saving the Fatherland in a critical situation is not their specialty.”

    The corollary is that Russia needs “a sovereign elite, otherwise everything will repeat itself.”

    As for the dazed and confused collective West, especially the NATO-Kiev junta, with everyone instantly rebranding Wagner from “terrorists” to “freedom fighters”, getting bogged down in their own swamp is the art they excel in.

    Mainstream media spun that the proverbial “Western officials” were “taken by surprise” by the mutiny. That depends on the amount of funds that changed hands, and in which direction, during the preparation.

    The SMO, now CTO keeps rolling along. The Russian Army continues to fight, undisturbed. The “counter-offensive” remains teetering over the edge of a cliff, ready to kiss the black void.

    Putin winning on all counts implies the whole civilian population – and the military – engaged into preserving him and the Russian institutions, as well as perfecting them. There’s absolutely no nation anywhere across the collective West where we find this level of citizen support.

    Russian politics is a special animal. It works at the highest level and also at grassroots level – unlike in the West, where the norm is deep hatred between the elites and the people.

    Of course it should always be stressed it’s the less patriotic Russian oligarchs who run away every time something approaching The Longest Day takes place.

    For a few hours, the West was betting heavily on the dismemberment of Russia. Not now. And not in the foreseeable future.

    The succession is already being prepared, by Team Putin and selected patriotic oligarchs. Among the contenders, there’s a secret name that will stun everyone when it pops up. He’s still invisible in terms of public opinion, and works in the shadows. His name should remain secret for the time being.

    As it stands, what matters is that Russia as whole emerged even stronger out of The Longest Day. The man and woman in the street showed himself and herself, once again, as a true patriot, ready to defend the Motherland whatever it takes.

    There was no confrontation between those who are pro-Russian institutions and those who are pro-Wagner. People actually support both. People regarded Wagner like the “polite green men” who helped to peacefully retake Crimea in 2014. Facing them, there was not a single policeman or military.

    So Putin is stronger than ever. But everyone should always keep this in mind: the one thing he can’t forgive is betrayal.

    Tyler Durden
    Tue, 06/27/2023 – 23:45

  • Tucker Carlson Dares To Ask "Why Exactly Are We At War With Russia?"
    Tucker Carlson Dares To Ask “Why Exactly Are We At War With Russia?”

    “Why exactly are we at war with Russia?”

    Those are the verboten words that Tucker Carlson to utter at the start of Episode 7 Of his Tucker on Twitter series where he highlights the irony that the so-called ‘war for democracy’ is actually enabling dictatorship and tyranny.

    With nuclear extinction a possibility and 1000s of lives and billions of dollars already wasted, “what’s the point” he asks, “are we really doing this so that the Biden family can repay its debts to the oligarchs that financed their beachhouse.”

    “Thankfully” the former Fox News star explains, “we have an answer.”

    “The war against Putin and for Ukraine is in fact a war for democracy.”

    Sounds familiar?

    “Democracy must prevail” exclaims Nancy Pelosi as Carlson offers bipartisan examples of warmongers pushing for ‘democracy’ and all the military-industrial complex enrichment that comes with it.

    Carlson further mocks the rhetoric surrounding the war as a fight for democracy, highlighting the irony of supporting Ukrainian President Zelensky, who suspended democracy in his own country.

    we are currently fighting a war for democracy on behalf of a leader who just casually announced he’s happy to end democracy and our democracy and supporting leaders have no problem with that

    In fact, the Biden administration continual support for Ukraine despite Zelensky’s disregard for democracy, implies that their motives are questionable.

    He argues that during wartime, politicians become powerful and can justify any action, including silencing political opponents, leading to a potential erosion of democracy.

    Carlson suggests that those in Washington, including Republicans, support Biden’s stance on Ukraine because ending the war would threaten their power.

    He concludes by speculating on the future of Joe Biden, pointing out his age-related decline and potential implications for the Democratic Party, suggesting that Gavin Newsom may be a potential successor.

    Watch the full episode below:

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    Full transcript below:

    Hey it’s Tucker Carlson, you may have found yourself wondering recently as the world slides closer to nuclear Annihilation than any time in human history why exactly are we at war with Russia.

    It seems like there’s a pretty significant downside to this particular foreign policy decision, starting with economic collapse and ending potentially with Extinction so is there a good reason we’re doing it so many innocent young people have been killed so many hundreds of billions of dollars have been wasted some of them from the U.S treasury so what’s the point are we really doing this so the Biden family can repay its debts to the oligarchs who finance their beach house in Rehoboth.

    We’re doing it so our government can continue to lie about its illicit bio labs in Eastern Europe so that flabby losers like Toria Newland and Tony Blinken can feel like they’re doing something important with their sad empty lives.

    Really honestly there’s got to be a better reason for waging this the most pointless war of all.

    What is it.

    Well thankfully we have an answer: the war against Russia ladies and gentlemen the war against Putin and for Ukraine is in fact a war for democracy.

    Watch and recall the motive the president has said many times “we’re focused on what we can do to support Ukraine’s effort to fight for their democracy”.

    “Democracy must prevail. The Ukrainian people are fighting the fight for their democracy and in doing so for ours as well.”

    “Assisting and helping Ukraine win this fight for democracy and freedom and of course Ukrainian president zielinski understand that what’s at stake in Ukraine is bigger than just his Nation it is literally a battle for freedom and democracy themselves.”

    “They are showing the world what an existential fight for democracy looks like.”

    “President Zelenky and the Ukrainians have changed the course of history for the better and we unequivocally are with the Ukrainian people in their fight to remain a sovereign democracy.

    Unequivocally with the Ukrainian people to remain in democracy it’s a bipartisan view democracy must Prevail.

    You just heard noted democracy expert Nancy Pelosi say the daughter of the mobbed up mayor of Baltimore as Pelosi puts it the Ukrainian people are fighting the fight for their democracy and for ours as well that’s right for ours as well without Ukrainian democracy in other words we can have no democracy here if the ukrainians aren’t free.

    Neither are we we must make sure they can vote in Kiev so we can continue to vote in Kansas City.

    It’s really that simple and yet tonight we regret to tell you that we have a problem it looks like they’re not going to be able to vote in Kiev anymore and no for once it’s not Putin’s fault.

    Democracy in Ukraine seems to be suspended by the world’s foremost democracy Advocate himself Field Marshal zielinski.

    Watch:

    If we win” he says “we’ll let people vote otherwise no you vote” and we feel like it because ultimately we’re completely in charge and make all the rules.

    Your job is to obey or be punished.

    That’s our version of self-government.

    Self means me – I’m the government now.

    That’s not just any autocrat that’s our chief Ally in the war for democracy.

    This is the guy who just announced he’s like did you cancel next year’s elections.

    So you’ve got to wonder what the Biden Administration thinks of this – we can’t possibly continue to support zielinski, that guy, after he said that can we because in a clip less than 30 seconds long he just blew up our entire rationale for supporting his side in the war.

    So we can’t support him.

    Oh of course we can and we will.

    Here’s Joe Biden from yesterday reaffirming America’s unequivocal support for Ukraine no matter what happened in Russia “we the United States should continue to support Ukraine’s defense and its sovereignty and its territorial integrity”.

    So to recap we are currently fighting a war for democracy on behalf of a leader who just casually announced he’s happy to end democracy and our democracy and supporting leaders have no problem with that in fact they’re strongly for it.

    Shocked?

    You shouldn’t be.

    Of course they’re for it. You should have seen this coming.

    Wars for democracy always cancel democracy in the process – that’s why our leaders love them and they all do it – even The Virtuous leaders Abraham Lincoln suspended habeas corpus, the British government under Winston Churchill through an entire opposition party into prison and let them rot for the duration – in some cases with their families.

    So in a war for democracy you can do anything.

    Imagine what a man might do who has fewer principles.

    If that man say ran Ukraine he might seize churches arrest priests ban all criticism of himself disappear his political opponents and that’s happening.

    Just last month zelinski threw a man called Gonzalo Lira into prison indefinitely for the crime of daring to write about the Ukrainian government in unflattering ways.

    Now what’s interesting what separates this from other such cases is that lira is an American citizen, so Joe Biden who was quite a bit of SWAT as they say in Ukraine could have freed Gonzalo Lira within hours, but he didn’t. He didn’t want to – he didn’t say a word about it – he remains in prison tonight.

    So that makes you wonder what’s the real motive here when normal people see War they see death and destruction, sadness and suffering; but that’s not what demagogues see – they understand it differently they know that War means power mostly for them.

    During wartime everything they do can be justified – war is the gravest of all emergencies – imagine the coveted lockdowns times a thousand plus drones.

    Once War breaks out politicians become Gods with the power of life and death. So in a peaceful democracy you have to debate your political opponents in public and that’s tiresome but in a war for democracy you can just throw them in jail or have them executed. You can see that many in Washington are looking forward to that moment and that may be why they so fervently support Joe Biden – even many Republicans – against a potential opponent – the only opponent who opposes the war in Ukraine.

    If you were to end the war their power would evaporate.

    Last week a whistleblower produced WhatsApp messages from Hunter Biden proving that at the very least his father knew about his influence peddling businesses abroad and probably participated in them “I’m sitting here with my father” Hunter Biden wrote to his Chinese Partners demanding money as much as anything reported about the bidens over the last several years this was The Smoking Gun.

    There it is right there in the message that would have been enough to a normal president it would have been more than enough to keep a normal president from running for office again but had virtually no effect on Joe Biden.

    Most media Outlets ignored it completely or tried to spin Biden’s relationship with his son as some kind of moral Victory “the real meaning of the hunter Biden Saga as I see it” wrote Nick Kristoff of the New York Times “isn’t about presidential corruption but is about how widespread addiction is and about how a determined parent with unconditional love can sometimes reel a child back.”

    He actually wrote that and if you doubt it you should know that view was common.Here’s the take from ABC “the hunter Biden story, the Scandal, the this, that, it’s also the story of a Father’s Love and Joe Biden has never and will never give up on his son Hunter and will never treat him lesser than and so he is a father first take it or leave it.

    So whistleblower produces a text message showing that Joe Biden was in the room with his son when his son was selling influence to an enemy power the Chinese government and ABC’s take on it Joe Biden is a father first take it or leave it.

    What accounts for a response like that?

    Well that’s the way you talk when you’ve got nothing to fear from an upcoming presidential election – you don’t even bother to think of an excuse for your candidate because you don’t need to. Your country has electronic voting machines – Joe Biden got 81 million votes in 2020 and you’re pretty sure he can do it again.

    In fact you know he can you’re not worried but actually they should be a little worried

    The people who control Joe Biden – Susan Rice and the rest – know they can continue to run our government, writing the press releases, formulating the policies, and they can do it effectively forever, as long as Joe Biden gets dressed in the morning, and of course that’s their strong preference.

    These are fervent opponents of change but the one thing these people cannot control is aging.

    Joe Biden is old he’s 80 now he will be 85 at the end of the next term.

    People imagine that old age is a long predictable progression from Acuity to permanent unconsciousness but often that’s not at all how it actually works.

    When old people start to slide they tend to Slide fast.

    Joe Biden has begun that descent.

    Here he was yesterday and here’s what she wrote to me and I quote you can imagine my joy she called them right away and the next day they sent someone out to survey her yard as Beth wrote this is the best thing that’s happened in Rural America since the rural electrification act for electricity to farms in the 30s and 40s end of quote.”

    End of quote you weren’t supposed to hear that – Joe Biden read the stage directions out loud –  that’s like eating the garnish that comes with your entree you’re supposed to know not to do that.

    Joe Biden no longer does in a year or two he will be gone completely and there will be no hiding it at that point the Democratic party will face a secession problem.

    If Joe Biden is re-elected next year and then forced to leave office during his term due to disability or death that means Kamala Harris will become president of the United States and nobody wants that not even her husband.

    In real life nobody likes Kamala Harris.

    That’s not an attack on her in fact it’s possible to feel pity for someone who’s so universally reviled. It is instead an observation of unchanging physical reality like gravity or photosynthesis nobody wants Kamala Harris to be president no one will benefit if she becomes president so logic suggests there’s going to be a change.

    It’s going to have to be somebody else and whoever that person is is going to have to enter the race soon before the election after Biden drops out.

    Who could that person be? We don’t know obviously this is all just guessing but we do know whoever that is we’ll have to have two essential criteria he’ll have to be as shallow ruthless and transactional as Joe Biden is and he’ll need to have flattery skills that are so polished and advanced they’d be considered Superior even in the Saudi Royal Court and there’s only one man in modern America who fits that description Gavin Newsom the governor of California and perhaps not coincidentally Joe Biden’s new closest friend.

    “I am here Mr President” Newsom told Biden at an event that they did together last week. “I am here as a proud American as a proud Californian mesmerized by not just your faith and your Devotion to this country and the world we’re trying to build but by your results by your action by your passion by Your Capacity to deliver.”

    I get mesmerized by you Joe Biden – imagine saying that as a compliment you couldn’t do it.

    Few human beings could do it but Gavin Newsom had no problem at all those words rolled right off his Fork tongue. He never stopped smiling so if you’re looking for the leader of the coup there he is right there she’s in Kennedy’s motorcade.

    Tyler Durden
    Tue, 06/27/2023 – 23:38

  • Nvidia Slides As Biden Prepares New AI Chip Export Curbs To China
    Nvidia Slides As Biden Prepares New AI Chip Export Curbs To China

    One month ago, Wall Street lost its mind when Nvidia reported guidance that blew away consensus: in the aftermath of ChatGPT, it seemed as if the entire world suddenly wanted the company’s flagship A100 chip, helping send NVDA stock higher by almost 50% in days, pushing the company into the vaunted “cuatro comas” club.

    And maybe they did… but maybe not. Maybe instead of a scramble by everyone to become the Apple of AI, something which only a small handful of cash-rich companies can even hope of achieving due to the vast capex sums required, all that happened was a rush by Chinese companies to rush and front-load orders before the chip export ban hammer falls, something we discussed most recently two weeks ago.

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    To be sure, it wouldn’t be the first time that Chines firms were double and triple ordering precious chips (it happened all throughout the post-Covid supply chain crunch) and it certainly wouldn’t be the first time Nvidia was caught in the middle of the US-China chip war. Recall, it was just last August that NVDA stock tumbled (amazing to think it was “only” $150 back then) to get ahead of US chip export crackdowns, after the US has implemented new license requirements for Nvidia’s A100 and forthcoming H100 integrated circuits – Nvidia’s highest-performance products for servers – in sales to China and Russia. Nvidia said last September the restrictions would cost it $400 million in that quarter.

    But while the market quickly forgot that one of Nvidia’s largest revenue streams could be shut off at any time, and resumed bidding up the stock following the release of ChatGPT in late 2022 as the world lost its collective mind in the historic AI frenzy, the reality is that nothing had actually changed.

    And early Tuesday evening the world got a reminder of just how little things had changed, when the WSJ reported that Washington could soon close loopholes in the sale to China of powerful chips used to train AI models, potentially denting sales to the world’s largest semiconductor market.

    The Commerce Department could move as soon as early next month to stop the shipments of chips made by Nvidia and other chip makers to customers in China and other countries of concern without first obtaining a license, the people said.

    The action would be part of final rules codifying and expanding the export control measures announced in October, some of the people said.

    The move would further crimp China’s ability to build out AI capabilities after restrictions last year that cut off the most advanced AI chips made by Nvidia and Advanced Micro Devices. Nvidia responded to that move by making a version of its AI chips for the Chinese market called the A800 that fell below performance thresholds outlined by the Commerce Department. That chip replaced the A100, which is widely used in data centers to do AI computations.

    But the new restrictions being contemplated by the Commerce Department would ban the sale of even A800 chips without a license, according to the WSJ sources.

    The news sent Nvidia stock sliding more than 3% in after-hours trading in New York. Why? Because as we said last August, Nvidia gets about a fifth of its revenue from China, and any trade intervention by the US – which at this stage in the new cold war is just a matter of time – would cripple Nvidia’s value proposition.

    While Nvidia led declines in shares of US chipmakers after hours, rival AMD also fell about 3%. The two lead the market for chips vital to the development of generative AI models such as ChatGPT.

    In response to last summer’s regulations, Nvidia designed less-capable chips that fall under thresholds that require a license from the Commerce Department before export to China or other countries of concern. But Biden is now weighing action as soon as next month to expand the curbs to include those lower-powered semiconductors, the Wall Street Journal reported, citing anonymous sources.

    Such a move underscores the Biden administration’s determination to contain China’s technological rise and could stoke tensions between the two countries. The US is increasingly concerned about Beijing’s technological ambitions, including around the use of AI in military and scientific advances that could tilt the geopolitical balance.

    Nvidia, which with a market cap just over $1 trillion has become the world’s most valuable chipmaker with a more than 80% share of the market for data center accelerator chips, and has been operating under rules that required approval for shipments to China of its A100 and new H100 parts. It was able to partially alleviate the impact on its finances by selling a modified version of the A100 that’s slower at accessing data, and therefore didn’t trigger the restriction.

    But now Biden’s minions are going after those chips as well in hopes of delaying China in the global AI race, and the question is with the market having priced in virtually unlimited growth for the chip company, what will the threat of losing as much as 20% of its total revenue (and growth) mean to NVDA stock.

    Tyler Durden
    Tue, 06/27/2023 – 23:05

  • CJ Hopkins 'Horrified' To Find "The Same Totalitarian Program Is Being Rolled Out" Everywhere Around The World
    CJ Hopkins ‘Horrified’ To Find “The Same Totalitarian Program Is Being Rolled Out” Everywhere Around The World

    Authored by CJ Hopkins via The Consent Factory,

    Fear and Loathing in the City of Westminster

    Our descent into City Airport was like the drop-ship scene in the movie Aliens. The BA CityFlyer Embraer 190, a narrow-body twin-engine airliner, rolled over into a 40-degree bank and started bucking like a mechanical bull. Simulated “chimes” began chiming frantically. Flight attendants bolted for their seats. The German businessman in the seat beside me, obviously a nervous flyer, immediately adopted the “brace” position. I gripped his shoulder reassuringly and shouted into his ear like a drunken redneck, “WE’RE ON AN EXPRESS ELEVATOR TO HELL! GOING DOWN!”

    And so began my latest trip to London. This time, I wasn’t there to talk to “the Left” or to hunt down endoparasitoid xenomorphs. I was there on Serious Conspiracy Theorist Business, which I explained to the chirpy MI6 operative posing as a “survey taker” that followed me out of Border Control asking questions about my “nation of residence” and my “experience with the passport scanners,” and so on. She was wearing one of those rubber “Mission Impossible” masks that made her look like a middle-aged British woman. I waited for an opportunity, head faked, juked right, and lost her in the crowd. As I entered the “Arrivals” lobby, I turned and shouted in her general direction, “NOT MY FIRST RODEO, MR. PHELPS!”

    I don’t know what was up with all the shouting. I’ve been experimenting with different types of medication for this sinus condition I’ve had for months. My Sinus Specialist diagnosed me with “long” or possibly “permanent Covid,” or some yet-to-be-named debilitating syndrome caused by some other bio-weapon that produces cold-and-flu-like symptoms and has a survival rate of 99.8 percent. So, maybe it was bad reaction to my meds. Whatever it was, I was feeling jumpy.

    And the climate-change apocalypse didn’t help. Emerging from the Tube in Westminster was like walking into an enormous open-air sauna. Bodies were lying all around on the sidewalks. AFP photographers in hazmat suits were taking pictures of the carnage. Herds of corpulent American tourists staggered through the streets in semi-fugue states sweating profusely and thumbing their phones like an invasion of alien albino hippos trying to call up to their UAPs and arrange for immediate emergency extraction. I pushed and shoved and elbowed my way down Tothill Street to my pod hotel, checked in, and proceeded to get hopelessly lost in the maze of identical Kubrickian hallways that eventually led me to my luxury pod, and cleaned myself up for the night’s festivities.

    What was I doing back in London in the middle of a heat wave? Well … OK, I’m allowed to tell you about it now. As you are probably aware, Michael Shellenberger, Matt Taibbi, and Russell Brand were doing this public event last Thursday …

    … but that’s not what I was really there for.

    Not that the Thursday event wasn’t fun. It was. Despite the rather pricey tickets, there was a good size house and spirits were high. Russell Brand was in top form, pouring out torrents of intellectual free-association like an English Neal Cassady and nailing the punchlines of all the jokes. Michael was also firing on all cylinders. He worked the house like a seasoned politician, whipping the crowd into a veritable frenzy of anti-totalitarian fervor. Stella Assange took the stage at one point and briefed us on the official crucifixion of her husband, which, sadly, now looks like a fait accompli. Matt, who had just made it to London that morning, and so was jet-lagged and delieriously sleep-deprived, dispensed with the speech he had rewritten on the plane, and just winged it, and somehow pulled it off … because that, as they say, is show biz.

    Here’s the money part of Matt’s speech, which he paraphrased in London (emphasis mine):

    “What Michael and I were looking at was something new, an Internet-age approach to political control that uses brute digital force to alter reality itself. We certainly saw plenty of examples of censorship and de-platforming and government collaboration in those efforts. However, it’s clear that the idea behind the sweeping system of digital surveillance combined with thousands or even millions of subtle rewards and punishments built into the online experience, is to condition people to censor themselves.

    Early the next morning, Michael, Matt, and a secret cabal of international journalists, editors, organizers, political satirists, academics, and other Very Serious People whose names I am not at liberty to mention gathered in an undisclosed location and spent the better part of the day sharing harmful misinformation and strategizing about how to defeat (or marginally disrupt) the network of governments, Intelligence agencies, global corporations, NGOs, and so-called disinformation experts known as the Censorship Industrial Complex. There were delegates from the United States, the United Kingdom, Ireland, Germany, Italy, Spain, Brazil, Australia, New Zealand, and other nominally sovereign countries.

    This heretofore clandestine meeting was conducted in what appeared to be a WWII-era air-raid shelter that had been converted into a private BDSM club under military-level OPSEC protocols (i.e., the meeting was conducted according to the protocols, not the architectural conversion). I’m not entirely sure why that was. We weren’t doing anything even remotely illegal. However, given that I’m under criminal investigation here in Germany for tweeting the cover art of my book, and the IRS’s sudden interest in Matt, and Kit Klarenberg’s recent experience in Luton, perhaps the abundance of caution was warranted. The last thing we needed was the UK Thoughtpolice goose-stepping in like Basil Fawlty and dragging everyone off to Room 101.

    Anyway, that’s what I was actually there for. I had never met most of the people in attendance, except online on the double-encrypted Russian-backed dark-web conspiracy-theorist channels where we hatch our right-wing-extremist plots to defend people’s rights to freedom-of-speech and engage in other harmful anti-Democracy behaviors. I’m still not sure who I actually met in London, as we were all wearing identical Mickey-Mouse masks and speaking through portable voice modifiers. (In any secret meeting like this, you have to assume you’ve been infiltrated!)

    After the obligatory arguing about the agenda, we settled in and shared our country reports, which, unsurprisingly, were all variations on a theme. I won’t go into all the details. Michael Shellenberger’s non-profit has been tracking those developments. Matt Taibbi and Racket News are reporting it. Other alternative media outlets are reporting it. Millions of people all around the world are talking about it, writing about it, and arguing with each other about it. Your Twitter feed is probably full of it. Alex Gutentag just published a huge article about it.

    So, what is it, exactly, that is going on?

    The thing that was horrifying about listening to my colleagues reporting on the state of things in their countries — or, rather, the thing that should be horrifying but is becoming a mundane fact of life — is that more or less the same totalitarian program is being rolled out in countries throughout the world.

    • The censorship.

    • The official propaganda.

    • The criminalization of dissent.

    • The pathologization of dissent.

    • The manipulation of our perception of reality.

    • The coordinated transformation of the world into a smiley-faced neo-Orwellian police state in which politics no longer matters because society has been divided into two basic classes, i.e., “the normals,” who are prepared to mindlessly follow orders and parrot whatever official propaganda they are fed, and “the deviants,” or “extremists,” who are not.

    Seriously, all satire aside, think about the implications of that.

    As you sit there in whichever nominally sovereign country you’re sitting there reading this in, ask yourself, “how and why is this happening?” Then ask yourself, “why is it happening now?”

    If you do not have answers to those questions, it might behoove you to attempt to come up with some. That is basically what I’ve been trying to do — in a satirical and sometimes not so satirical manner — in these Consent Factory essays for the last seven years. I’m not going to summarize it all again here. I’ve done that, repeatedly, in my essays and books. I did it the last time I visited London to give a talk at the Real Left Conference.

    I did it again at this gathering in London. It did not go over all that well.

    The thing is, most of us are so laser-focused on the trees that we cannot see the forest. But our adversaries see the forest. They see the forest like fucking eagles. They own the fucking forest and everything in it. While we hop like squirrels from tree to tree, distracted from distraction by distraction, from limited hangout by limited hangout, they are building a big fucking fence around it and deploying the Forest-Ranger Sturmabteilung.

    I’m reminded of that infamous Karl Rove quote. He was referring to the USA, of course, but it was GloboCap (i.e., the Corporatocracy) that he was really speaking for whether he knew it or not …

    That’s not the way the world really works anymore … we’re an empire now, and when we act, we create our own reality. And while you’re studying that reality — judiciously, as you will — we’ll act again, creating other new realities, which you can study too, and that’s how things will sort out. We’re history’s actors, and you, all of you, will be left to just study what we do.” [The New York Times Magazine]

    If we do not want to end up “studying that reality,” the global, pathologized-totalitarian reality that is being subtly and not so subtly implemented simultaneously in countries throughout the world, at some point we had better come up with some actual answers to those questions above.

    The supranational, globally-hegemonic, post-ideological system of power that runs our world — whatever you need to call it — has answers to those questions. It has a story. It is a story about a beneficent global empire governed by authoritative scientific experts who are trying to save the world from Whatever and protect everyone from “disinformation” and “harmful” speech, ideas, and so on. Like every good story, it has an antagonist. Us. We are the official enemy. Right, Left, libertarian, anarchist, Islamic fundamentalist, Christian fundamentalist … it does not make one iota of difference. There is only the Empire, and those who oppose it. The Empire does not give a shit why. It is conducting a global “Clear-and-Hold” operation, wiping out internal resistance and establishing ideological uniformity. It could not care less what you think you believe in. All it wants is mindless obedience and rote repetition of its propaganda. That’s how totalitarianism works.

    And there I go with my story again. If anyone has a different story that makes sense of the last seven years — and arguably the last 30 years — honestly, I would love to hear it. My story fills me with fear and loathing, but the only other coherent story I’m hearing at the moment is the Empire’s story, and I think we all know how that one ends.

    Tyler Durden
    Tue, 06/27/2023 – 22:45

  • Midtown Gets Paywall: Feds Approve NYC Congestion Toll
    Midtown Gets Paywall: Feds Approve NYC Congestion Toll

    The US Department of Transportation’s Federal Highway Administration approved the Metropolitan Transportation Authority’s congestion tax scheme to charge drivers entering New York City’s midtown Manhattan. The tax is the first of its kind in the nation, expected to fleece hardworking Americans between $9 and $23 per day to drive through the district, reported Bloomberg

    “Congestion pricing will reduce traffic in our crowded downtown, improve air quality and provide critical resources to the MTA,” said Gov. Kathy Hochul. 

    Hochul said, “I am proud of the thorough environmental assessment process we conducted, including responding to thousands of comments from community members from across the region.”

    She added: “With the green light from the federal government, we look forward to moving ahead with the implementation of this program.” 

    The MTA operates NYC’s subways, buses, and rail lines. It’ll be responsible for implementing the tax scheme as soon as April 2024. Bloomberg said motorists driving south of 60th Street would be able to use an E-ZPass. 

    The new tax aims to fleece motorists and raise $1 billion of new annual revenue for the MTA. NYC officials want to reduce the number of daily vehicles entering the district by up to 20%.

    Meanwhile, in a joint statement from Rep. Josh Gottheimer, Sen. Bob Menendez, and Rep. Bill Pascrell Jr.—all Democrats, they said, “This is nothing more than a cash grab to fund the MTA.” 

    The new tax will put a paywall around the elite financial district and bar lower-income motorists from entering because of the cost of entry. 

    Tyler Durden
    Tue, 06/27/2023 – 22:25

  • Actor Jim Caviezel Says Movie Exposing Child Sex Trafficking Is 'Huge Weapon Against Evil'
    Actor Jim Caviezel Says Movie Exposing Child Sex Trafficking Is ‘Huge Weapon Against Evil’

    Via The Epoch Times (emphasis ours),

    Jim Caviezel, a Christian actor of “The Passion of the Christ” fame, said he wants his upcoming thriller “Sound of Freedom” to shed light on the reality of child sex trafficking in the United States and warn parents of what he called a “pedophile agenda” that has been pushed for decades.

    Jim Caviezel (L), actor in the new human trafficking film “Sound of Freedom,” and Tim Ballard (R), a former Department of Homeland Security special agent and founder of Operation Underground Railroad, speak during an interview in Washington on June 21, 2023. (Madalina Vasiliu/The Epoch Times)

    The film stars Caviezel as Tim Ballard, a Homeland Security agent who, after rescuing a young boy from traffickers, learns that the boy’s sister is still captive. He quits his job and puts his life at risk as he embarks on a mission deep into the jungle of Colombia to save the girl.

    In an interview with EpochTV’s “American Thought Leaders,” Caviezel and the real Tim Ballard said what the film depicts, as dark and disturbing as it may be, is based on real events and people.

    Image from the “Sound of Freedom” movie, starring Jim Caviezel, to be released nationwide on July 4, 2023. (Courtesy Angel Studios)

    “I will say, it is a true story, absolutely,” Caviezel told host Jan Jekielek. “Every character is real. Every bad guy is real.”

    At the end of the film … it showed all the good guys, the bad guys, the kids, and it said where they are today,” said Ballard. “We know where they are. Those are real kids, every one of them. Some of them work for us. Some of them have actually rescued people from human trafficking as young adults.”

    In 2013, Ballard left his government job to found Operation Underground Railroad (OUR), a non-profit organization working with law enforcement around the world to rescue children from exploitation and help survivors recover. They have been operating in places where instability and conflict make women and children more vulnerable to trafficking, including countries like Ecuador, Mexico, and Ukraine.

    Tragically, according to OUR, the kidnapping and sexual exploitation of children in those countries is being fueled and propelled by a growing U.S. customer base.

    “The big numbers: $150 billion a year are made off the backs of men, women, and children as slaves,” Ballard said, noting that some 27 million people around the world live in slavery, with 6 million of those being children.

    “It’s estimated that 2 million of those [children] are specifically designated for the commercial sex trade,” the former federal agent continued. “The United States is number three for destination countries for human trafficking, number one the consumption of child rape videos, and we are now approaching number one in production of child exploitation material.”

    ‘A Huge Weapon Against the Evil’

    In 2019, Ballard testified before the Senate Judiciary Committee, arguing that an expanded, strengthened U.S.–Mexico border barrier provides an “effective tool” in combating those trying to smuggle children into the country for the purposes of selling them for sex. He now believes that the countries’ poor border enforcement might be part of a broader agenda catering to this lucrative market.

    “Why are there over 85,000 unaccompanied minors showing up in the last two years at the southern border and are delivered to sponsors with no background check, no DNA testing?” he said. “Thousands of these kids … showing up alone with a name: ‘Call this number, please, and take me to my sponsor.’ They call the number and they show up.”

    “The fake news media outlets are also propelling this agenda that don’t call them pedophiles. They want to call it minor attracted persons, or MAP,” he added. “Sexualizing kids, giving kids right to consent, pushing God out of education—all the platforms the organized pedophile groups have been peddling, the woke left is now implementing them.”

    For parents and concerned Americans, Caviezel said his film will help them better understand the reality and what they need to do to protect their loved ones.

    “The film is very powerful because it shows you how routinely [child sex trafficking] occurs,” he told Jekielek. “But it also helps you. It weaponizes you to know what the warning signs are. A mother and a father have to guard their children and protect them. And by sticking your head in the sand is not protecting your children.”

    “When you walk out of there, you won’t get up just like you did on ‘The Passion of the Christ’ or on ‘Schindler’s List,’” the actor added. “And the difference between ‘Schindler’s List’ and this film, is that ‘Schindler’s List’ was 50 years too late. We’re doing this right now during the time. And this is a huge weapon against the evil.”

    Read more here…

    Tyler Durden
    Tue, 06/27/2023 – 22:05

  • 16.5 Million Americans Risk Stroke From Too Much Exercise
    16.5 Million Americans Risk Stroke From Too Much Exercise

    While things such as daylight savings time, skipping breakfast, skyrocketing energy bills and making the bed ‘too vigorously’ have been floated as causes for heart attack and strokes (and totally nothing else), you can now add ‘exercising too hard’ to the list.

    According to a new study in the Physics of Fluid, researchers concluded that an elevated heart rate can cause strokes in people with blocked carotid arteries, which occurs through a process of stenosis – where the carotid arteries located on both sides of the neck become clogged with fat an cholesterol, forming a plaque that narrows the artery.

    The NY Post reports that stenosis can be difficult to catch early, and is dangerous because it limits blood flow to the brain, which can result in a stroke.

    And according to the Cleveland Clinic, some 16.5 million (5%) of Americans have carotid artery stenosis.

    Contributing factors to stenosis include smoking, obesity, a sedentary lifestyle, high blood pressure or cholesterol, or diabetes.

    Researchers from the Indian Institute of Technology Kharagpur used a computational model to simulate blood flow in carotid arteries at three stages of stenosis: without blockage, with a mild 30% blockage and with a moderate 50% blockage.

    They compared the effect of an exercise-induced heart rate at 140 beats per minute, which can be achieved by a brisk walk for some obese people, and resting heart rates of 67 and 100 bpm.

    Healthy patients and those with only slightly blocked arteries appeared to have exercise be beneficial for maintaining healthy blood flow.

    However, the results for those with moderate to severe blockage were concerning.NY Post

    According to author Somnathj Roy, “Intense exercise shows adverse effects on patients with moderate or higher stenosis levels,” adding “It substantially increases the shear stress at the stenosis zone, which may cause the stenosis to rupture. This ruptured plaque may then flow to the brain and its blood supply, causing ischemic stroke.”

    Stroke, which is 80% preventable, is the #5 cause of death in the United States, according to the American Stroke Association.

    “While stressful exercises may be beneficial for improving the cardiac performance of healthy individuals, the same may bring in extremely adverse consequences at elevated heart rates on account of extensive physical activities for patients having extensive arterial blockages, if not performed in supervision of specialized experts,” according to the report.

    Travis
    Tue, 06/27/2023 – 21:45

  • Shellenberger Exposes Secret Government Effort To Regulate Your Mind
    Shellenberger Exposes Secret Government Effort To Regulate Your Mind

    Authored by Michael Shellenberger via Public Substack,

    Congress must defund and dismantle the corrupt Cybersecurity and Infrastructure Security Agency (CISA) and fire its director, Jen Easterly

    One of the big questions that those of us involved in exposing the secret U.S. government censorship effort have been asking ourselves over the last few months is: did the people involved know that they were breaking the law?

    That question appears to have been answered with a resounding yes by the House Judiciary Committee. Yesterday it released its report, “The Weaponization of CISA: How a ‘Cybersecurity’ Agency Colluded with Big Tech and ‘Disinformation’ Partners to Censor Americans,” on government censorship.

    “It’s only a matter of time,” wrote a former assistant general counsel for the Central Intelligence Agency (CIA) in an email to a colleague, “before someone realizes we exist and starts asking about our work.”

    The “we” in that sentence refers to the network of government agencies and nongovernmental organizations that we and others have dubbed the Censorship Industrial Complex.

    That Complex includes the University of Washington’s Center for an Informed Public.

    Its leader, Kate Starbird, responded to the former CIA official, Susan Spaulding, by saying, “Yes. I agree. We have a couple of pretty obvious vulnerabilities.”

    But one day later, Starbird dismissed the notion that she and her colleagues were doing anything wrong.

    The real problem was, she explained, that “current public discourse (in part a result of information operations) seems to accept malinformation as ‘speech’ and within democratic norms” and that CISA may face “bad faith criticism” for its censorship.

    What is “malinformation”?

    It’s accurate information that might lead people to come to the wrong conclusions — or do things that Starbird, Spaulding, and their allies didn’t want them to do, like not getting vaccinated against Covid-19.

    In truth, America’s taxpayer-funded censors view themselves not only as the good guys but as superheroes.

    One of the leaders of the Censorship Industrial Complex, Jen Easterly, the Director of the Cybersecurity and Infrastructure Security Agency (CISA) within the U.S. government’s Department of Homeland Security, has as her Twitter photo a cartoon image of herself as a superhero complete with a cape.

    The harsh reality is that Easterly, Starbird, and Spaulding have more in common with China’s censors than they do with America’s founders.

    Those tactics appear to have been lifted whole cloth from George Orwell’s censors in “1984.” Totalitarianism begins, after all, with the corruption of language.

    [Congress] should demand that Easterly be fired and CISA defunded and dismantled. If CISA is engaged in any worthwhile non-censorship activities, they should be moved to an agency staffed by people who don’t think it’s their business to regulate our “cognitive infrastructure” and imagine themselves to be superheroes.

    Subscribers can read Michael’s full note here…

    Tyler Durden
    Tue, 06/27/2023 – 21:25

  • Record Number Of Americans Forecasted To Travel July 4th Weekend
    Record Number Of Americans Forecasted To Travel July 4th Weekend

    A record number of Americans are expected to hit the roadways this July 4th weekend. Despite elevated inflation straining households, there’s still a lot of pent-up travel demand after the pandemic years. Even with surging travel demand, fuel consumption is unlikely to exceed pre-Covid levels due to more efficient vehicles and the proliferation of EVs. 

    “We’ve never projected travel numbers this high for Independence Day weekend,” Paula Twidale, Senior Vice President of AAA Travel, wrote in a new report released Monday. 

    Twidale said, “What this tells us is that despite inventory being limited and some prices 50% higher, consumers are not cutting back on travel this summer. Many of them heeded our advice and booked early, another sign of strong travel demand.”

    AAA projects more than 43 million motorists will drive at least 50 miles from their homes between June 30 and Tuesday, July 4. That’s a 2.4% increase versus 2022 and 4% compared to 2019. If travel by buses, trains, cruise ships, and planes is added, then a record 50.7 million Americans are expected to travel. 

    Bloomberg pointed out that while record travel is expected for the holiday weekend, “widespread adoption of more efficient vehicles means fuel demand nonetheless remains muted — and might never get back to pre-pandemic rates.” Data from the Environmental Protection Agency shows the average car is more fuel efficient, getting about 33.3 miles per gallon. Also, the increasing number of EVs decreases fuel product demand at retail pumps. 

    Americans are still traveling and spending money despite negative real wage growth for the past two years, along with soaring credit card balances and the highest interest rates in a generation

    The next test for the consumer will be if they still can splurge on travel on late summer Labor Day weekend. 

    Tyler Durden
    Tue, 06/27/2023 – 21:05

  • Software Engineer, Fiancee Sentenced To Prison For Developing Application To Break China’s Internet Censorship
    Software Engineer, Fiancee Sentenced To Prison For Developing Application To Break China’s Internet Censorship

    Authored by Freda Wu and Sophia Lam via The Epoch Times (emphasis ours),

    Two people, who were detained by Shanghai State Security Police in October 2021 for developing software that circumvents the Great Firewall, received six- and five-year prison sentences on June 12, 2023.

    Undated file photo of Zhang Yibo (L) and He Binggang (R). (Courtesy of Falun Dafa Infocenter)

    He Binggang and his fiancée Zhang Yibo, along with several others, were arrested on Oct. 9, 2021, for developing and maintaining software that helps people living in China access overseas internet platforms, according to the Falun Dafa Infocenter.

    The Chinese regime set up Great Firewall (GFW), or Golden Shield Project, in 1998, which is managed by the regime’s Ministry of Public Security to monitor and censor what can and cannot be seen in China through an online network.

    He and Zhang are Falun Gong adherents, a spiritual practice that has been persecuted inside China since 1999 and has been the subject of intense political propaganda.

    Falun Gong, also known as Falun Dafa, is a spiritual improvement practice based on principles of truthfulness, compassion, and forbearance, with five slow-moving, gentle exercises that have significant physical benefits. The practice has been very popular in China, with an estimated 70 million to 100 million practitioners in the country before the Chinese communist regime began to persecute the belief and its followers in July 1999.

    He and Zhang had developed software called oGate that allows Chinese people to freely access websites and information available outside of China but which are blocked by the GFW and otherwise unavailable inside China.

    Persecuted for Belief: Reports

    He and Zhang have been subjected to long-term persecution by the Chinese regime for their belief in Falun Gong.

    According to Minghui.org, the police denied He’s lawyer from visiting him at Shanghai’s Changning District Detention Center. On March 10, 2022, his lawyer was allowed to talk to him on the phone at the detention center, but without seeing him in person.

    He’s physical condition is very poor because of repeated torture by the Chinese regime.

    “His neck issue and partial paralysis, which resulted from torture during [the] previous detention, worsened. He has now completely lost the ability to walk and has become bedridden. He has trouble falling asleep at night and suffers from constant dizziness, headache, and incontinence,” Minghui reported in June 2023.

    He, 46, has been imprisoned two times previously.

    He is a gifted software engineer, according to Minghui.org, a platform that tracks the persecution of Falun Gong practitioners.

    When he was 15 years old he created “Computerized Audible Aids for the Blind.” The invention won the Silver Award of the Sixth National Invention Award and the “Sixth Shanghai Yilida Youth Invention Award.”

    He obtained a certificate in computer application software engineering as a senior programmer when he was only 16.

    In 1994, He was admitted into Fudan University, and four years later he entered the graduate program.

    In 2000, he was detained by police and later given a six-year sentence at Shanghai Tilanqiao Prison.

    Fudan University expelled him.

    In 2007, He was released and he began his own technological company. But in 2010, he was detained again for his spiritual practice.

    According to a June report on Minghui.org, He was tortured when he was imprisoned for the second time, and the beatings caused him to become paralyzed due to severe spinal injuries. He was sentenced to five years in prison in April 2011 despite having been paralyzed.

    Zhang was a business manager for a foreign company. The Xuhui Court sentenced her to one and a half years in prison in 2009 for her spiritual practice, according to Minghui.org.

    Read more here…

    Tyler Durden
    Tue, 06/27/2023 – 20:45

  • US Honeybees Suffer Second Deadliest Season On Record
    US Honeybees Suffer Second Deadliest Season On Record

    Figures published today reveal beekeepers in the U.S. lost an estimated 48% of their honey bee colonies in 2022-23.

    As Statista’s Martin Armstrong reports, according to an annual survey that tracks the state of managed hives, this is the second highest death rate on record after 2020-21’s 51%.

    Infographic: U.S. Honeybees Suffer Second Deadliest Season on Record | Statista

    You will find more infographics at Statista

    Honey bees are crucial to our food supply, pollinating over 100 different crop types.

    As reported by Bee Informed, a national collaboration of leading research labs and universities in agricultural science, the most prominent cause of colony death reported by commercial beekeepers over the year was “varroa destructor” – a parasitic mite that attacks and feeds on honey bees.

    In the summer, ‘Queen issues’ were the second most common reason cited, followed by ‘adverse weather’.

    According to the publication, “although the total number of honey bee colonies in the country has remained relatively stable over the last 20 years (~2.6 million colonies according to the USDA NASS Honey Reports), loss rates remain high”.

    This puts beekeepers under “substantial pressure” to create new colonies each year.

    Tyler Durden
    Tue, 06/27/2023 – 20:25

  • The Real Casualties Of Russia's 'Civil War': The Beltway Expert Class
    The Real Casualties Of Russia’s ‘Civil War’: The Beltway Expert Class

    Authored by Max Blumenthal & Wyatt Reed Via The GrayZone,

    For just over 12 hours, everyone from former U.S. ambassador to Russia and noted Hitler apologist Michael McFaul to Ukrainian President Volodymyr Zelensky to neocon pundit Anne Applebaum exploded with seemingly libidinal excitement about a supposed “civil war” that was certain to feature “Russians…killing Russians,” along with “lots of casualties” and Putin “probably hiding somewhere.”

    It was as though the Soviet Union was collapsing all over again, and Prigozhin, a character named on the F.B.I.’s most wanted list whom the U.S. government has sanctioned for leading what it described as a “transnational criminal organization,” was suddenly a white knight storming into Moscow to liberate Russia from “the Putin regime” on the back of a tank. Move over, Juan Guaido.

    Expecting a bloodbath and seismic political upheaval, corporate networks like CNN had budgeted wall-to-wall coverage of the coup that wasn’t, filling cable news green rooms with rent-a-generals, K Street think tankers, and war-hungry former diplomatic corps hacks.

    On Saturday afternoon, however, news broke across the U.S. that Prigozhin had struck a deal with Belarusian President Alexander Lukashenko to end his protest and go into exile. Thus ended a largely bloodless affair that ultimately saw fewer documented deaths than the Jan. 6 Capitol Riot.

    Though the supposed revolt in Russia burned out faster than a Leopard tank on the way to Zaporizhzhia, we now know that a number of serious casualties were incurred inside the D.C. Beltway. The Grayzone obtained an exclusive look at the massacre some of America’s top Russia experts carried out against their own credibility.

    McFaul McFails, Again

    Ever since he was unceremoniously ejected from Moscow for apparently attempting to organize a color revolution in 2012, Ambassador Michael McFaul has waged a personal jihad against the country’s government. His hatred of the Russian leadership grew so impassioned that he once declared that Putin was morally inferior to Adolf Hitler, embracing a fringe view associated with Holocaust deniers that asserts the Nazi dictator “didn’t kill German-speaking people.”

    When the events of Friday kicked off, McFaul could hardly contain himself. The disgraced diplomat immediately took to Twitter to insist without a shred of evidence to claim that Putin “has ordered his army and others to destroy Wagner & Prigozhin.”

    “So there’s going to be a big fight,” he promised.

    As for the Russian President, McFaul confidently declared: “I am sure that he is no longer in Moscow.” Just after noon on Saturday, he seemed to believe the Russian president’s demise was imminent. “Rats are jumping” from Putin’s ship, he effused, referring to oligarch Arkady Rotenberg taking a flight to Azerbaijan. “This is now a civil war,” the self-styled expert confidently declared.

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    But around 1:30 PM on Saturday the unwelcome news had made its way to Washington: Putin and Prigozhin had reached an agreement. There was to be no civil war in Russia, after all.

    McFaul was suddenly forced to reckon with the reality that his predictions of a coup were premature, and that virtually everything he had said hours before was completely wrong. “Can anyone remember a mutiny or coup attempt that lasted 24 hours and no one really fought or was killed?,” pondered the retired diplomat, seemingly coming to grips with the obvious. 

    Then, like an alcoholic in denial after yet another blackout, McFaul whimpered, “I was wrong about this. Eager to learn why.”

    Anne Applebaum’s ‘Civil War’ 

    This May, anti-Russian pseudo-scholar and former Iraq war cheerleader Anne Applebaum predicted a decisive Ukrainian counter-offensive that would storm through Russian defenses and not only “liberate” Crimea, but encourage regime change from Moscow to Venezuela. 

    In an article co-authored by former Israeli prison guard and The Atlantic magazine editor-in-chief Jeffrey Goldberg, and illustrated by the Davos frontman, Bono, (with apparent help from an Etch-a-Sketch), Applebaum openly fantasized about a madman taking control of Russia’s nuclear arsenal.

    “Even the worst successor imaginable,” she wrote, “even the bloodiest general or most rabid propagandist, will immediately be preferable to Putin, because he will be weaker than Putin. He will quickly become the focus of an intense power struggle.”

    By Friday, Applebaum seemed to believe her fever dreams were coming true. And it was then that she breathlessly announced, “Russia is sliding into what can only be described as a civil war. ” 

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    “If you are surprised, maybe you shouldn’t be,” she lectured readers, just hours before the bloodless “coup” came to a conclusion. 

    Applebaum’s husband is the former foreign minister of Poland, Radek Sikorski, who infamously tweeted his gratitude to the U.S. government for destroying the Nord Stream pipeline. While Sikorski deleted his tweet, Applebaum’s thoroughly discredited “civil war” article remains on the website of the Atlantic.

    On Sunday, Applebaum and McFaul were rewarded for their badly botched analysis with an appearance on MSNBC’s Inside with Jen Psaki, which is hosted by the Biden White House’s former press secretary.

    Zelensky: Putin Is ‘Very Afraid’

    “The man from the Kremlin is obviously very afraid and probably hiding somewhere, not showing himself,” Ukrainian President Volodymyr Zelensky proclaimed on Saturday. According to fact checkers, Zelensky did not issue this bold statement from inside a bunker or in front of a green screen. 

    U.S. Intelligence Claims ‘Surprise’

    On Sunday, CNN reported that U.S. intelligence analysts were taken by surprise by “the swiftness of the deal that was struck on Saturday.”

    What’s more, they believed that Prigozhin’s march toward Moscow “would encounter much more resistance” than it did.

    “I do know that we assessed it was going to be a great deal more violent and bloody,” an unnamed U.S. official reportedly told the outlet.

    But D.C.’s disappointment with the lack of carnage on Moscow streets did not end there.

    Kurt Volker Declares ‘The End’ for Putin

    Kurt Volker is a former U.S. special representative for Ukraine negotiations who also operated as a de facto Raytheon lobbyist while serving as the executive director of the John McCain Institute. Volker also functioned as a liaison for U.S. and Ukrainian business interests while presiding over the founding of American University Kyiv.

    During a Saturday CNN appearance, Volker declared that the brief moment of disorder in Russia marked “the end for Putin” and “the beginning of the end of Russia’s war in Ukraine.” 

    Christo Grozev: Bellingcat’s Neocon-Stradumus

    Christo Grozev is the Russia director of the U.S. and U.K. government-funded website Bellingcat. This April, Grozev celebrated a terrorist attack that saw a Russian war blogger assassinated and a cafe full of civilians blown up in St. Petersburg, Russia. 

    With chaos seemingly intensifying inside the Russian Federation again, Grozev suddenly transformed from a glorified OSINT blogger into a geopolitical soothsayer with a unique ability to divine the fate of the Kremlin. 

    “Prigozhin says he’s got 25k strong army and he’s going to take power and deal with the ‘traitors’ at the top before returning to the front line,” the Bellingcat commentator claimed on Twitter. “Am old enough to remember how Russia ‘pundits’ said I was talking nonsense predicting a Prigozhin coup attempt this year.”

    Having not been born literally yesterday, we at The Grayzone are thankfully old enough to remember when Prigozhin’s “coup attempt” failed to materialize and ended quickly with negotiations.

    Our memory is so long, in fact, that we recall when the war prophet Grozev stated that Russia had expended 70 percent of its precision missile stocks back in April 2022. Since then, Russian missile strikes on Ukrainian targets have only increased.

    Ian Bremmer: Peter Hotez of International Relations

    As president of the Eurasia Group risk analysis firm, political scientist Ian Bremmer has leveraged his supposed expertise into a lucrative business.

    Bremmer recently weighed in in defense of the absurdly double-talking pediatrician and pundit Peter Hotez, defending his decision not to debate Robert F. Kennedy Jr. on Covid-related issues on the grounds that Hotez was a credentialed expert, and RFK Jr. was not.

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    “It would be like me debating elon [Musk] on electric vehicles. Or him debating me on international relations,” Bremmer argued, asserting his own superior credentials. “There’s no value added.”

    During the events of Friday, Bremmer joined the rest of the Beltway expert class in predicting imminent doom for Putin. “wagner territorial gains in russia dramatically faster than in ukraine,” Bremmer wrote in a viral post seen by more than 1 million Twitter users.

    Moments later, he joked that “ukraine has run out of popcorn,” implying that Kiev was eagerly preparing for Russia’s collapse. 

    Following the announcement of Wagner’s stand-down on Saturday, an apparently disappointed Bremmer insisted “there’s no environment where [Putin and Prigozhin] hug it out.”

    Top Biden Officials’ Travel Plans Interrupted

    Among the most overlooked victims of the brief march on Moscow were high-ranking U.S. officials’ weekend plans.

    On Saturday, a spokesman for the Joint Chiefs of Staff announced that a planned visit to Jordan and Israel by Gen. Mark Milley, the top military officer in the U.S., had been canceled “due to the situation in Russia.”

    Biden administration National Security Council director and possible human scarecrow Jake Sullivan was forced to cancel a trip as well. Sullivan had reportedly been slated to attend a conference on Ukraine in Denmark until Prigozhin decided to make a trip of his own toward Rostov-on-Don.

    Stephen King: Lost in Fantasy

    Horror author-turned-liberal Russiagate conspiracist Stephen King, who once praised Ukrainian Nazi collaborator and Holocaust perpetrator Stepan Bandera in a phone call with a prankster he believed to be Volodymyr Zelensky, was clearly titillated by Friday’s events.

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    When Prigozhin’s forces briefly took over the city of Rostov-on-Don, King once again proved unable to contain his overactive imagination. “Putin sowed the wind. Now he must reap the whirlwind. Slava Ukraini!” he exclaimed.  

    Noted Online Stalker Idrees Ahmad Predicts ‘The Death of Aaron Mate’s Career’

    Idress Ahmad once existed on the margins of the U.K.’s antiwar movement, publishing a book attacking the Iraq war-era neocon cabal, suggesting Senators Barbara Boxer and Russ Feingold voted for Iran sanctions because they are Jewish, and openly questioning the West’s narrative of a genocide in Darfur.

    After running into financial trouble and escaping deportation to his native Pakistan “against the odds” thanks to a Home Office decision that remains unexplained, Ahmad transformed into the very thing he once condemned. 

    Having re-emerged as a rabid supporter of the West’s dirty war on Syria, Ahmad busied himself by stalking The Grayzone, even phoning its editor, Max Blumenthal, to threaten him against publishing a factual investigation of the Syrian White Helmets in 2016. 

    While Ahmad’s recent work at the spook-infested Newlines think tank has failed to generate much interest, even among his fellow regime change cheerleaders, we noticed his prophecy on Saturday that Prigozhin’s “coup” would lead to the collapse of The Grayzone, the international committee of the Democratic Socialists of America, and “the death of Aaron Mate’s career.”

    At the time of publication, we are still triggering Ahmad’s rage-a-holic personality while his own media career has gone about as far as Prigozhin’s march toward Moscow.

    Tyler Durden
    Tue, 06/27/2023 – 20:05

  • Watch: The Evolution Of The Most Popular Desktop Operating Systems Since 2003
    Watch: The Evolution Of The Most Popular Desktop Operating Systems Since 2003

    Mobile phones might be the most common way of getting online today, but the digital and internet era started for most people with the humble desktop computer.

    And, as Visual Capitalist’s Pallavi Rao details below, over the past 20 years, a long list of operating systems (OS) have been used to run the most popular desktop computers.

    Sjoerd Tilmans has created an animated chart showing the rise and fall in market share of popular desktop operating systems over the period of May 2003 to June 2022, using data from W3Schools and GS Stat Counter.

    Microsoft’s Monopoly on the Most Popular Desktop OS

    The story of the desktop OS market is a story of Microsoft’s explosive growth and market dominance.

    In the 1980s, the fledgling company signed a partnership with personal computer behemoth IBM. Microsoft would supply IBM with an operating system for its computers, MS-DOS, and receive a royalty for every computer sold.

    Those royalties boosted Microsoft’s coffers. And its release of Windows—a more visual interface than DOS—helped them grab hold of the PC market. The late 1990s and early 2000s saw different versions of Windows capture the market:

    • Windows 95:
      The now famous toolbar and Start menu made their debut here. The version also would launch Internet Explorer, once the world’s most popular browser.

    • Windows 98:
      An upgrade to ‘95 which supported more hardware like USBs and connecting more than one monitor.

    • Windows XP:
      XP quickly became a fan-favorite because of its stability, and a hit with both commercial and personal computer clients. Windows XP gained market share steadily upon release in 2001, quickly becoming the most popular desktop OS with a peak of 76% market share in 2007.

     

    Microsoft doubled down on their next releases from the end of the 2000s to 2020, with some misses (Windows Vista) and some hits (Windows 10). Here’s a look at the most popular ones:

     

    • Windows 7:
      Released as the successor to the poorly received Windows Vista, it kept the same visual style (“Aero”) but greatly improved performance and stability from Vista’s benchmarks. In 2011, Windows 7 passed XP to become the most popular desktop OS.

    • Windows 8 and 8.1:
      Created for tablet-desktop integration, just as Microsoft released the companion Surface tablet. The beloved Start menu was replaced (an unpopular decision) and tile-based visual style introduced. However the dramatic differences between the desktop and tablet versions made for a steep learning curve, with the 8.1 release reintroducing the Start button.

    • Windows 10:
      The follow-up to Windows 8 kept the the tile-based appearance but focused on a desktop-oriented interface with quality of life updates. By 2018, Windows 10 had become the most popular desktop OS, eventually peaking at 61% market share at the start of 2022.

     

    The most recent version of Windows released, Windows 11, had updated graphics styling, widget integration, and introduced Microsoft’s latest internet browser Microsoft Edge. But it received a mixed response and slow uptake compared to Windows 10, gaining a market share of 8.3% by June 2022.

     

    Microsoft Vs. Other Desktop OS Contenders

    As of February 2023, Microsoft had a comfortable lead in the desktop OS market, holding nearly 72% of the market.

    In a distant second is Apple’s macOS. The most profitable company in the world might make most of their money from smartphones, but Apple has still managed to carve out a small but sturdy segment of the desktop operating OS market. It reached its peak of 19% in April 2020.

    The other tech giant in the desktop OS game is Alphabet, whose ChromeOS is unique for using an internet browser (Google Chrome browser) as its primary interface. Generally packaged as a simpler and cheaper device option—it was primarily released with inexpensive laptops called “Chromebooks”. More recently, Alphabet announced a version that can be installed on existing computer hardware in 2022.

    Compared to the commercially released OS above, Linux is completely free to download and use, and is the largest open-source software project in the world. Although the OS is only used in about 3% of desktop computers, it was also the basis of Android and ChromeOS, and is the most-used OS on devices with embedded software—routers, smart home devices, cars, and even a few spacecraft (The SpaceX Falcon 9, for example).

    Tyler Durden
    Tue, 06/27/2023 – 19:45

  • Judge In Trump Documents Case Denies Special Counsel Jack Smith's Request To Seal Witness List
    Judge In Trump Documents Case Denies Special Counsel Jack Smith’s Request To Seal Witness List

    Authored by Caden Pearson via The Epoch Times (emphasis ours),

    A federal judge on June 26 denied special counsel Jack Smith’s request to file a confidential list of 84 witnesses in the classified documents case involving former President Donald Trump and co-defendant Walt Nauta.

    Former President Donald Trump is introduced at the Oakland County Republican Party’s Lincoln Day dinner at Suburban Collection Showplace in Novi, Mich., on June 25, 2023. (Scott Olson/Getty Images)

    Smith’s motion, filed on June 23, sought to keep the list of witnesses a secret from Trump and forbid him from communicating directly with them about the case.

    U.S. District Judge Aileen Cannon, a Trump appointee, said in her order that prosecutors failed to explain why it was necessary to keep the names under seal or why redacting or partially sealing the document would be inadequate.

    According to Cannon’s order, Trump’s attorneys took “no position” on Smith’s motion but reserved the right to object to aspects of it, such as implementation. Cannon also said that “numerous news organizations” opposed Smith’s motion in court filings citing the First Amendment and related legal principles.

    “Upon review of the foregoing materials, the Government’s Motion is denied without prejudice, and the Motion to Intervene and accompanying Motions to Appear Pro Hac Vice are denied as moot,” Cannon wrote in her ruling.

    “The Government’s Motion does not explain why filing the list with the Court is necessary; it does not offer a particularized basis to justify sealing the list from public view; it does not explain why partial sealing, redaction, or means other than sealing are unavailable or unsatisfactory; and it does not specify the duration of any proposed seal.”

    In Smith’s June 23 motion, he said the government provided Trump’s legal team with the list of witnesses they wished to remain under seal. The court had previously instructed Trump at his June 13 arraignment, at which he pleaded not guilty, not to engage in any communication with Nauta or the witnesses involved in the case.

    Security Clearances

    Trump was indicted on 37 counts related to sensitive and classified documents retained beyond his term in office. The documents were seized during an FBI raid on his Mar-a-Lago estate in Florida in August 2022.

    Smith presented evidence during the June 13 proceeding indicating that Trump violated federal law by allegedly retaining the documents, sharing them with individuals who were not authorized to access such information, and obstructing the investigation by directing Nauta to relocate boxes at Mar-a-Lago instead of surrendering all the materials to the authorities.

    Trump has maintained his innocence. In various remarks to the media and to his supporters, Trump has labeled the prosecution and raid as the “weaponization” of the Department of Justice under his chief 2024 presidential rival, incumbent President Joe Biden.

    Last week, Cannon initially set the trial date for Aug. 14, which is about seven weeks away. Smith filed a separate motion requesting to delay the start date by four months, pushing it to December.

    He stressed that proceeding with the trial on the originally scheduled date would not allow enough time for adequate preparation, which would negatively affect both the defense and the government’s interests.

    The case involves classified information, so Trump’s lawyers need to seek and receive final security clearances to access a few classified documents, which can take up to 60 days. The process for his lawyers to receive interim security clearances was already underway.

    Smith filed a separate motion on June 23 requesting a classified information security officer under the Classified Information Procedures Act (CIPA). The motion clarified that CIPA has implications for the trial proceedings, as it introduces additional time requirements specific to cases involving classified information.

    Under CIPA, parties can request a pretrial conference to discuss any possible issues related to the prosecution of the case concerning classified information. Cannon set a July 14 hearing to discuss how classified materials will be handled in the case in a separate order on June 26.

    The appointment of a classified information security officer also was granted.

    Tyler Durden
    Tue, 06/27/2023 – 19:25

  • Coders, Learn To Build
    Coders, Learn To Build

    Back in late January, when prevailing consensus was that the Fed’s aggressive rate hikes would crush US residential housing, we showed readers a little known market indicator which signaled that the housing market was in far better shape than conventional wisdom suggested, and asked whether the housing market has bottomed.

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    Since then, despite mortgage rates rising to 7%, back to the highest level of the 21st century, housing stocks have continued to push higher, and the homebuilder ETF (XTB) is up 20%, and just shy of its all time high. In other words, at least as far as the market is concerned, the answer whether housing has bottomed has been a resounding yes.

    But how is that possible? Isn’t the US consumer crushed? Aren’t credit standards so tight that virtually nobody can get a mortgage? Haven’t 7% mortgages made housing the most unaffordable in history?

    While the answer to all those questions is a resounding yes, there is something else that matters much more, and is a far bigger driver of housing supply/demand equilibrium levels, i.e., prices.

    We are talking, of course, about housing inventory… or the lack thereof.

    Consider: according to the latest report RedFin, in May there were fewer homes for sale than any other month on record! Specifically, the number of homes for sale in the U.S. fell 7.1% year over year to 1.4 million on a seasonally adjusted basis in May. That’s the lowest level in Redfin’s records, which date back to 2012, and the first annual decline since April 2022.

    By comparison, there were 2.2 million homes for sale in May 2019, before the pandemic rocked the U.S. housing market, meaning housing supply was 38.6% below pre-pandemic levels this May.

    America’s housing stock is dwindling because there are very few people selling homes. A key reason cited for the lack of supply is that nobody who has a mortgage in the 3-4% ballpark, wants to cash out and take out a new mortgage that is up to 4% higher, wiping out any capital gains from the sale transaction. Some more math:

    Nearly every homeowner with a mortgage has an interest rate below 6%, meaning many are opting to stay put because selling and buying a new home would mean taking on a higher monthly mortgage payment. The average 30-year-fixed mortgage rate in May was 6.43%, up from 5.23% a year earlier and a record low of 2.65% in 2021.

    Whatever the reason for the lack of sales, new listings of homes for sale declined 25.2% year over year in May to the third lowest level on record on a seasonally adjusted basis, as homeowners were handcuffed by high mortgage rates.

    As the pool of homes for sale shrinks, homebuyers in many markets are grappling with competition, which is preventing home prices from plunging despite a freeze in buyer demand brought on by elevated mortgage rates. Effectively, there is a standoff where sellers don’t fell compelled to sell, and buyers can’t afford to pay prices demanded by sellers, which has resulted in a deep freeze of the housing market where bids and asks for the same house are sometimes hundreds of thousands of dollars apart.

    Meanwhile, the median U.S. home sale price was $419,103 in May. That’s down just 3.1% from a year earlier, when prices hit a record high of $432,311. While home prices fell in May, they posted a smaller decline than they did in April, when prices dropped 4.2% from a year earlier—the largest decrease on record with the exception of January 2012.

    Another remarkable consequence of the plunge in inventory is that the typical home that sells is no longer selling at a discount. According to RedFin, the average sale-to-list-price ratio, which measures how close homes are selling to their final asking prices, was 100% in May, meaning the typical home that sold was purchased at its list price. That’s down from 103.1% a year earlier, but is the highest level of any May on record prior to the pandemic and follows nine straight months of sub-100% sale-to-list-price ratio

    Still, as Redfin Chief Economist Daryl Fairweather says, “it’s too early to say that price declines have bottomed out. Prices may have room to fall because mortgage rates could still rise. The Federal Reserve just signaled that it is likely to continue raising interest rates this year. That could further hamper homebuyer demand and cause home prices to fall in the near term, though the drops would be minimal. We’re unlikely to see double-digit price declines like we did during the 2008 housing crisis.”

    There is another reason why prices may drop: there has been a flood of new home construction. As the next chart shows, the number of houses under construction at this moment are just shy of their all time high, and well above both starts and completions.

    Which has a profound consequences for the US labor market: thanks to the frenzied in process construction of single family houses, employment in the construction sector is effectively the highest it has been since 2007, and rapidly approaching an all time high.

    Which brings us to the punchline.

    Remember when a few years ago the derogatory punchline lobbed at all those (reporters) who had been recently let go was to “learn to code.”  Fast forward a few years, and coder jobs have gone stone colder as a result of not only the surge in rates which has forced tech companies to become profitable (which most of them can’t so they have had to lay off hundreds of thousands of highly paid workers), but the coming AI/ChatGPT shock which will lead to even more layoffs. In any case, as the following chart from the Indeed hiring platform (which tracks job openings much more accurately than the politically-mandated mess that is JOLTs) shows, hiring for softwarre development jobs has plunged and is now near the March 2020 trough even as hiring of construction workers fires on all cylinders. Some more details:

    Indeed hiring tabs open jobs by US sector relative to pre-covid Feb 2020 baseline: purple is Software Development (-16.1% from pre-pandemic) and blue is Construction (+49.2% from pre-pandemic). As Goldman notes, this is “clearly a reflection of the continued shortage of blue collar labor while the job cuts in big tech have had an impact on software employment.”

    The bank concludes that this is “a good reminder that this labor market can not be painted with a broad brush while the secular forces of demographics, immigration and the wake of covid has left lasting labor shortages in pockets of the economy.”

    Which is true. What is also true, is that the worker class that until not too long ago was certain it was immune from the vagaries of the economic cycle, and acted accordingly refusing to show up to the office and instead of actually working, spent the day at home in various yoga positions or drinking some supposedly healthy green crap while getting their 10th covid booster shot, the “coders” are suddenly in zero demand, while the “hot” job sector is now construction. To all those programmers, who are about to get steamrolled by the double whammy of being made obsolete by a chatGPT algos, we have three words of advice: “learn to build.”

    Tyler Durden
    Tue, 06/27/2023 – 19:05

  • Corporatism Has Replaced Liberalism
    Corporatism Has Replaced Liberalism

    Authored by Jeffrey Tucker via The Brownstone Institute,

    It’s not capitalism. It’s not socialism. The new word we are hearing these days is the right word: corporatism…

    That refers to the merger of industry and state into a unit with the purpose of achieving some grand visionary end, the liberty of individuals be damned. The word itself predates its successor, which is fascism.

    But the “F” word has become totally incomprehensible and useless through misuse so there is clarity to be gained by discussing the older term.

    Consider, as an obvious example, Big Pharma. It funds the regulators. It maintains a revolving door between corporate management and regulatory control. Government often funds drug development and rubber-stamps the results. Government further grants and enforces the patents.

    Vaccines are indemnified from liability for harms. When consumers balk at shots, government imposes mandates, as we have seen. Further, pharma pays up to 75% of the advertising on evening television, which obviously buys both favorable coverage and silence on the downsides.

    This is the very essence of corporatism. But it is not only this industry. It ever more affects tech, media, defense, labor, food, environment, public health and everything else. The big players have merged into a monolith, squeezing out the life of market dynamism.

    The topic of corporatism is rarely discussed in any detail. People would rather keep the discussion on abstract ideals that are not really operational in reality. It’s these ideal types that split right and left; meanwhile the really existing threats sail under the radar.

    And that is strange because corporatism is much more of a living reality. It variously swept through most societies in the world in the 20th century, and vexes us today as never before.

    But corporatism has a long ideological history that actually stretches back two centuries. It began as a fundamental attack on what was then known as liberalism.

    Liberalism began centuries earlier with the end of the religious wars in Europe and the realization that permitting religious freedom was overall good for everyone.

    It lessens violence in society and still retains the opportunity for the vigorous practice of faith. This insight gradually unfolded in ways that pertained to speech, travel and commerce generally.

    By the early 19th century, following the American Revolution, the idea of liberalism swept Europe. The idea was that the state could do no better for society than to let it develop organically and without a purpose-driven end state, a centralized authority that seeks to achieve a specific goal or purpose, often seen as a greater good or common end that justifies the restriction of individual liberties.

    In the liberal view, in contrast, liberty for all became the sole end state.

    Standing against traditional liberalism was Georg Wilhelm Friedrich Hegel (1770–1831), the German philosopher who explained the loss of territory at the end of the Napoleonic Wars as merely a temporary setback in the German nation’s historical destiny.

    In his vision of politics, the nation as a whole needs a destiny that is consistent with his postulated laws of history. This holistic view was inclusive of church, industry, family and individuals: Everyone must march in the same direction.

    The whole reaches its pinnacle in the institution of the state, he wrote in Elements of the Philosophy of Right, which “is the actuality of the ethical idea, “the rationality of the ethical whole,” the “divine idea as it exists on Earth” and a “work of art in which the freedom of the individual is actualized and reconciled with the freedom of the whole.”

    If all of that sounds like mumbo jumbo to you, welcome to the mind of Hegel, who was trained in theology foremost and somehow came to dominate German political philosophy for a very long time.

    His followers split into left- and right-wing versions of his statism, culminating in Marx and arguably Hitler, who agree that the state is the center of life while only arguing about what it should do.

    Corporatism was a manifestation of the “right-wing” version of Hegelianism, which is to say that it did not go so far as to say that religion, property and family should be abolished, as Marxism later suggested. Rather each of these institutions should serve the state, which represents the whole.

    The economic element of corporatism gained steam with the work of Friedrich List (1789–1846) who worked as an administrative professor at the University of Tübingen but was expelled and went to America where he became involved in the establishment of railroads and championed an economic “National System” or industrial mercantilism.

    Believing that he was following up with the work of Alexander Hamilton, List advocated national self-sufficiency or autarky as the proper managerial trade for trade. In this, he stood against the entire liberal tradition that had long rallied around the work of Adam Smith and the doctrine of free trade.

    Such is a brief look at the intellectual roots and development of corporatist thinking, complete with its most noxious ideological elements. The focus on a purpose-driven nationalism in each case comes through dividing and conquering the nation, usually by a “great man,” and allowing the “experts” to run roughshod over the desires of the common people for peace and prosperity.

    The corporatist model was deployed in most countries during the Great War, which was the largest experiment in central planning in cooperation with munitions manufacturers and other large corporations.

    It was deployed in combination with conscription, censorship, monetary inflation and a large-scale killing machine. It inspired an entire generation of intellectuals and public managers.

    The U.S. New Deal, with its price controls and industrial cartels, was largely managed by people such as Rexford Tugwell (1891–1979) who was inspired to rally around corporatism by his experience in this war. The same pattern repeated in the Second World War.

    This brief history only takes us only to the middle of the 20th century. Today corporatism takes a different form. Rather than national, it is global in scope.

    In addition to government and large corporations, today’s corporatism includes powerful nongovernment organizations, nonprofits and huge foundations built by huge fortunes. It is as much private as it is public. But it is no less divisive, ruthless and hegemonic than it was in the past.

    It has also shaved off most of its egregious (and embarrassing) teachings, leaving in place only the ideals of world governments working directly with the largest corporations in media and tech to forge a single vision for humanity on the march, such as spelled out daily by the World Economic Forum. With that come censorship and restrictions on commercial and individual liberty.

    That is only the beginning of the problems.

    Corporatism abolishes the competitive dynamic of competitive capitalism and replaces it with cartels run by oligarchs.

    It reduces growth and prosperity. It is invariably corrupt. It promises efficiency but yields only graft.

    It expands the gaps between rich and poor and creates and entrenches deep fissures between the rulers and ruled. It dispenses with localism, religious particularism, rights of families and aesthetic traditionalism. It also ends in violence.

    Corporatism is anything but radical. The word is a perfect descriptive of the most successful form of statism of the 20th century.

    In the 21st century, it has been given new life and an ambition that is global in scope.

    But as regards the highest American ideals and enlightenment values of freedom for all, it really does represent the opposite.

    It is also the single most vexing problem we face today, far more of a going concern than old archetypes of socialism and capitalism. Also in the American context, corporatism can come in forms that masquerade as both left and right.

    But make no mistake: The real target is always liberty traditionally understood.

    Tyler Durden
    Tue, 06/27/2023 – 18:45

  • US Treasury Sanctions Wagner's 'Gold & Weapons Dealing' Operations In Africa
    US Treasury Sanctions Wagner’s ‘Gold & Weapons Dealing’ Operations In Africa

    The US Treasury Department on Tuesday has announced new anti-Wagner sanctions in a belated attempt to cut off the group’s weapons funding, at a moment the Russian government has essentially pardoned the mercenary outfit for treasonous actions. It remains unclear what role Wagner will play inside Russia, if any, as its founder Yevegny Prigozhin sets up shop in neighboring Belarus after President Lukashenko mediated a deal on his behalf.

    The fresh sanctions, announced Tuesday, target four companies accused of “gold dealing” on Wagner’s behalf as well as an individual Washington says made “weapons deals” tied to Wagner.

    Companies in Russia, the UAE, and Central African Republic “have engaged in illicit gold dealings to fund the Wagner Group to sustain and expand its armed forces, including in Ukraine and Africa,” according to the Treasury statement. Wagner in Africa is essentially a foreign policy arm of the Kremlin, which might explain why Moscow sees the group as somewhat indispensable.

    Africa has lately been known as a place with the largest Wagner mercenary presence outside of the Ukraine conflict, which has deeply alarmed Washington and West. The US and its allies have long hoped to thwart and dismantle Wagner’s presence there, and deal-making with multiple African governments. 

    Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in a statement, “The Wagner Group funds its brutal operations in part by exploiting natural resources in countries like the Central African Republic and Mali.”

    “The United States will continue to target the Wagner Group’s revenue streams to degrade its expansion and violence in Africa, Ukraine, and anywhere else.”

    And the individual listed, identified as Andrey Nikolayevich Ivanov (Ivanov), is a Russian executive of Wagner Group who “worked closely with Prigozhin’s entity Africa Politology and senior Malian government officials on weapons deals, mining concerns, and other Wagner Group activities in Mali,” the Treasury statement alleged.

    The Treasury announcement further says action is being taken against a gold mine directly owned by Prigozhin:

    Diamville SAU (Diamville) is a gold and diamond purchasing company based in the CAR and controlled by Prigozhin. Diamville is one of several Prigozhin-connected entities that is intimately involved in the CAR mining sector. In 2022, Diamville participated in a gold selling scheme that entailed converting CAR-origin gold into U.S. dollars. Following the imposition of U.S. sanctions on several Russian financial institutions, participants in the scheme planned to move the proceeds by transferring cash by hand. Additionally, Diamville shipped diamonds mined in the CAR to buyers in the UAE and in Europe.

    The Treasury statement identifies Mali as a major base of Wagner’s illicit activities in Africa.

    Going back years, the Malian government has contracted with Wagner to assist its national armed forces in rooting out al-Qaeda affiliated groups which are active there. Wagner has recently come under allegations of massacring civilians in the context of its large firefights with Islamist insurgents.

    Tyler Durden
    Tue, 06/27/2023 – 18:25

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Today’s News 27th June 2023

  • "Political Earthquake" – Germany's AfD Party Posts Historic Win In Thuringia, Scores First District Administrator
    “Political Earthquake” – Germany’s AfD Party Posts Historic Win In Thuringia, Scores First District Administrator

    Authored by Denes Albert via Remix News,

    The German political establishment is reacting with extreme alarm and making various threats about the democratic results in favor of the AfD…

    Alternative for Deutschland (AfD) candidate Robert Sesselmann won the second round of elections in Sonneberg, Thuringia, on Sunday, becoming the first politician from the party to hold a district leadership post. The win is being touted as a historic victory for the party at a time when it is seeing record support from the population and routinely polling between 19 and 20 percent in nationwide surveys.

    Sesselmann defeated the incumbent CDU candidate Jürgen Köpper by a convincing margin.

    Preliminary election results show Sesselmann with 52.8 percent of the vote and Köpper with 47.2 percent, reports Germany’s Focus magazine.

    Although he did not achieve an absolute majority in the first round, Sesselmann won 47 percent of the votes, making him the strong favorite to win in the second round.

    The win also comes despite a cross-party coalition of Greens, Free Democrats (FDP), the Left party, and the Social Democrats (SPD) endorsing the CDU candidate and urging their voters to back him against the AfD. The German press also made the election a national issue, warning of a “threat against democracy” should the AfD win.

    In his campaign, the AfD candidate promised voters that he would tackle high inflation and the growing problem of immigration. The rural and conservative population of Germany is increasingly dissatisfied with the current leadership, which could lead to a national rise of the AfD.

    The AfD celebrated the win on Twitter, writing: “Sonneberg experienced its blue miracle: Robert Sesselmann is the first AfD district administrator in Germany. Congratulations and thanks to all supporters and voters – they all made history today!”

    German newspaper Junge Freiheit describes the victory as a “political earthquake,” but the German political establishment is reacting with concern and threats.

    Green party leader Ricarda Lang called the result of the district election “disturbing.” 

    She stated: “Now at the latest is the time when – despite all the disputes on the matter – all democratic forces must defend democracy together.”

    Schleswig-Holstein SPD member of the Bundestag Ralf Stegner claimed the election had similarities with the Third Reich, writing, “Ninety years after the seizure of power and the beginning of the Nazi dictatorship, the district of Sonneberg in southern Thuringia elected a right-wing extremist as district administrator.”

    As Remix News recently reported, AfD soared to an unprecedented 20 percent in a recent INSA poll, likely driven by a broad range of factors such as Germany’s significant inflation and economic crisis, as well as the migration crisis. The INSA poll shows that 34 percent of voters describe themselves as “angry citizens,” and among AfD supporters, 70 percent describe themselves this way.

    Tyler Durden
    Tue, 06/27/2023 – 02:00

  • Time To Get Rid Of Federal 'Disinformation' Bureaus
    Time To Get Rid Of Federal ‘Disinformation’ Bureaus

    Authored by Pete Hoekstra via The Gatestone Institute,

    Recently, Director of National Intelligence Avril Haines announced the creation of a new office within the Office of the Director of National Intelligence (ODNI): The Foreign Malign Influence Center (FMIC). It would encompass “election threat work, essentially looking at foreign influence and interference in elections, but it also deals with disinformation more generally.” Legislation creating the center was passed by Congress and signed into law in 2022.

    Although its work nominally deals with disinformation targeting U.S. elections and public opinion within the United States, there are at least two questions that need to be asked: First, is this office essential or duplicative of other ongoing efforts? Second, is this even appropriate work in which the federal government should be engaged?

    In the last few years, as disinformation and countering disinformation have become the staples of political and public policy discourse, a cottage industry has grown up within the federal government around these topics. Support in Congress means the money grab is on, with federal agencies vying to secure funds for the hot new topic to grow their bureaucracy, influence and power.

    Other agencies already involved in disinformation are numerous. The State Department has the Global Engagement Center (GEC) that combats foreign disinformation through promoting U.S. interests and messaging. The GEC does its own assessments of foreign operations and shares its analyses with partners throughout the government, thereby creating an American disinformation distribution center.

    The FBI, in 2017, created its own Foreign Influence Task Force. The Department of Homeland Security (DHS) may be the most active of all government agencies that jumped on this bandwagon. The DHS has, or had, a Countering Foreign Influence Task Force, a Foreign Influence and Interference Branch, Countering Foreign Influence Subcommittee, and a heavily criticizedridiculed and now disbanded “Disinformation Governance Board.”

    Not to be left out, the Pentagon also established an Influence and Perception Management Office responsible for coordinating the multiple counter-disinformation efforts conducted by the military.

    The bottom line is that there are multiple groups and agencies already focused on disinformation, but has anyone thought through how these agencies coordinate and enhance the mission, or are they duplicative and overlap? Are they effective and efficient or a waste of taxpayer dollars? Is the threat of a new Orwellian “Ministry of Truth” as big as it is toxic? There are many questions that need to be answered — above all, is this function for the federal government even appropriate?

    The Office of the Director of National Intelligence’s center has as its motto, “Exposing deception in defense of liberty.” That is a noble goal. How has the federal government been fulfilling this role as it has expanded its disinformation apparatus?

    The U.S. Intelligence Community, spanning eighteen different agencies across the federal government, has some of the most effective disinformation capabilities of any organization on the planet. Think about the CIA, the State Department and the Pentagon. The CIA historically has participated in the undermining of foreign governments. The State Department, through its Global Engagement Center, has, as part of its mission, fighting foreign propaganda by promoting an American agenda. The Pentagon spends tremendous amounts of resources trying to deceive those who might be trying to ascertain its plans, intentions and capabilities. The American government is extremely capable at generating its own disinformation.

    Disappointingly, Americans have seen this capability firsthand. Some U.S. intelligence leaders have used their status to aggressively plant disinformation to undermine presidents and influence elections. Some of these individuals are still on the government payroll, while others leveraged their titles and previous experience to deliberately deceive the people they are supposed be serving but instead repeatedly betray: their own citizens.

    Consider Director of National Intelligence James Clapper and FBI Director James Comey, who used their positions to undermine incoming President-elect Donald Trump in January 2017 by leaking and hyping to the media information based on a deceptive briefing they provided to Trump to begin framing him for supposedly colluding with Russia in the disruptive, two-year pretend-investigation known inside the FBI as “Crossfire Hurricane” and outside it as “the Russia Hoax.”

    As the Durham Report states:

    “[A]t the time of the opening of Crossfire Hurricane, the FBI had no information in its holdings indicating that at any time during the campaign anyone in the Trump campaign had been in contact with any Russian intelligence officials.”

    The report goes on to assert that during the fake Trump investigation, the FBI and DOJ had failed to practice “strict fidelity to the law.” The FISA court chastised the FBI for fabrications it made in the Russia probe. The “Russia Hoax,” it turned out — as its perpetrators reportedly knew all along — had been organized and funded by Trump’s presidential election opponent Hillary Clinton — evidently to deflect attention from her extensive destruction of classified material (here and here) — as well as the Democratic National Committeefraudulently prosecuted by the FBI, and laundered by the Perkins Coie law firm.

    In the case of Hunter Biden’s infamous laptop that first exposed massive influence peddling, Fifty-one former intelligence officials signed a letter falsely suggesting the Biden laptop story “had all the classic earmarks of a Russian information operation.” Former Acting CIA Director Michael Morrell testified before Congress that Antony Blinken, current Secretary of State, played a key role in originating the letter and getting the signatories. Reports also include the allegation that a current CIA employee assisted in promoting the letter.

    The ODNI met with social media companies prior to the 2020 election to inform them about potential disinformation by Russia and other nations. The ODNI, however, is a gatherer of foreign intelligence, not an arbiter of truth in U.S. presidential elections.

    Other recent allegations about potentially malign activities by our government abound. The FBI incidentally collected data without a warrant on U.S. citizens 3.4 million times in 2021. Thirty percent of the times the FBI did so, it acted in error or roughly one million times. Remember, this is all work performed by government employees who are tasked with keeping our country safe, yet these are the “mistakes” we keep seeing.

    The evidence appears to be overwhelming. The broad expansion of the federal government’s reach into disinformation has been knee-jerk and uncoordinated. It seems even more evident that Congress has apparently not delineated the parameters within which the intelligence and law enforcement community should operate. When Congress has set lines, the Intelligence Community and law enforcement have been more than willing to overstep their bounds and stretch their legal authorities.

    It is time to hold those responsible accountable. It is time to streamline the process and eliminate the duplication, redundancy, and waste that has sprouted up to become the federal disinformation bureaucracy. Crucially, given the federal government’s repeatedly demonstrated disregard for the law, it is time to consider whether it should even be engaged in this effort. It should not. The American government, based on the First Amendment, should not be anywhere near regulating protected speech. The American government should not be deciding what speech should be regulated and what speech should not.

    Tyler Durden
    Mon, 06/26/2023 – 23:40

  • New York City Remains America's Fine-Dining Capital
    New York City Remains America’s Fine-Dining Capital

    Receiving a Michelin star is still the highest honor for a restaurant and more than 200 in the United States currently hold the distinction.

    Infographic: The U.S. Fine Dining Capitals | Statista

    You will find more infographics at Statista

    As Statista’s Katharina Buchholz notes, Michelin-star restaurants cluster around the country’s biggest metros and most can be found in New York City.

    Diners there have a large variety to pick from, including Michelin-starred Mexican at Casa Enrique in Long Island City, contemporary Scandinavian cooking at Brooklyn’s Aska or modern, set family-style meals at Family Meal in Manhattan. A total of 72 restaurants in the city currently have at least one Michelin star. 12 boast two stars and five even have three stars, also the highest number of any U.S. city.

    San Francisco and the Bay Area come in second in the ranking, with 38 highly-awarded eateries stretching from the North Bay through Palo Alto all the way to Saratoga. 

    Restaurants offering different Asian cuisines are most often Michelin-starred in the area, followed by those offering contemporary or so-called Californian fare, which is focused on local and seasonal ingredients as well as fresh vegetables and lean meats. The dining scene is quite similar in Greater Los Angeles, where 28 star-studded restaurants are welcoming well-heeled customers from Hollywood to Costa Mesa. Another place where Michelin-starred restaurants are typically found in the United States is Napa Valley north of San Francisco, where plush dining rooms looks out over the countryside.

    Washington D.C. and Chicago have fewer Michelin-starred restaurants than Californian cities, but in contrast to Greater Los Angeles, both places boast one locale with three Michelin stars each. Alinea in Chicago offers contemporary cooking that borders on the performative with dishes that flip and other tricks that the Michelin website describes as “tableside fun”. In Washington D.C., The Inn at Little Washington is a more traditional joint that dishes up intricate vegetable creations and grows many ingredients on site.

    Tyler Durden
    Mon, 06/26/2023 – 23:20

  • Gen Z Has Been Failed By The Education System
    Gen Z Has Been Failed By The Education System

    Authored by John Mac Ghlionn via The Epoch Times,

    Gen Z is “rotting” away, according to a recent New York Post piece. Millions of young people now spend inordinate amounts of time “bed rotting,” lounging about for extended periods of time, eating food, watching Netflix, and playing video games. But this “rotting” must be viewed through a broader lens. Gen Zers are struggling, and their struggles will cost the country dearly.

    By 2025, Gen Z will account for just over one-quarter of the global workforce. That’s bad news for everyone. It’s especially bad news if you happen to live in America.

    A recent CNBC report highlights the many ways in which Gen Zers lack skills other generations take for granted. These digital natives may be able to create a good meme or take a mean selfie, but when faced with other actual human beings, they crumble.

    Tara Salinas, a professor of business ethics at the University of San Diego, told CNBC that Gen Zers have “always communicated online,” and for this reason, “their interpersonal skills, or soft skills, have suffered.” COVID-19, she added, certainly made the problem many times worse.

    It’s easy to scoff at Gen Z. So many articles have been written about this seemingly fragile generation. But it’s important to realize that it’s not all their fault. Many Gen Zers are products of an utterly hopeless education system.

    As the author and prominent psychologist Daniel Goleman has noted, 67 percent of the skills that employers are looking for in their employees are in the area of social and emotional intelligence (soft skills), yet schools spend less than 2 percent of an average school week teaching and developing these skills. In many schools, noted Goleman, they don’t spend any time developing these skills.

    The importance of a soft skill such as emotional intelligence (EI) can’t be emphasized enough. Strong EI is vital for a healthy, meaningful existence. Before going any further, though, it’s important to get our definitions in order. People high in EI are able to identify, manage, and control their own emotions. Furthermore, they’re able to identify and understand the emotions of those around them.

    According to experts at Harvard (pdf), high EI is a protective factor for suicidal behavior. Difficulties with emotion regulation are intimately associated with suicidal ideation. Not surprisingly, considering so many Gen Zers lack adequate levels of EI, they tend to suffer from depression and commit suicide at higher rates than members of other generations. A 2018 study carried out by Spanish psychologists argued that EI should be integrated into suicide prevention programs. But I would go one step further. EI should be integrated into the entire education system. The development of EI should be of prime importance to all educators, from kindergarten teachers to university professors.

    Which prompts the question: How does one actually teach EI?

    Key elements of EI include self-awareness, self-regulation, motivation, empathy, and social skills. Self-awareness is a thinking skill, one that focuses on an individual’s ability to accurately judge his or her own thoughts and behaviors and respond appropriately. As obvious as it sounds, the more accurately an individual can evaluate their actions and behaviors, the better equipped they are to face the challenges of the world. The same goes for a person with a strong capacity for self-regulation. Those who score high on self-regulation have the ability to identify a strong emotion and respond in a manner that has the least negative consequences. Instead of throwing a tantrum when denied something, for example, a child can be taught to ask why they were denied the request. A lack of emotional self-regulation skills can lead to self-destructive behaviors later in life, such as drug abuse and alcoholism.

    As is clear to see on college campuses across the country, both self-awareness and self-regulation are in short supply. Many of the young people who lack discipline are products of a failed education system. They enjoy harping on about the importance of inclusion, respect, and tolerance, yet become increasingly flustered when their opinions are challenged.

    An effective EI program teaches children how to communicate effectively. It teaches them that, more often than not, listening is more important than talking. The United States, like so many other countries, is a nation populated by conversational narcissists, people who genuinely love the sound of their own voices. If we’re always talking, then we’re rarely, if ever, listening—and that’s a problem.

    Listening affects virtually every aspect of an individual’s life, from academic performance to job performance to romantic relationships. The average American spends about 45 percent of their communication time listening (or not listening) and roughly 30 percent of the time talking (the rest of the time is spent reading and writing). Yet, for some reason, the education system fails to teach the children of today and the adults of tomorrow how to actually listen.

    Denise Daniels, creator of The Moodsters, the first evidence-based global children’s brand to address emotional literacy and resilience in young people, told me that “children’s emotions are the cornerstone of children’s positive mental health, which is the number one issue facing children in the U.S. and around the world.”

    Daniels, a Peabody award-winning broadcast journalist, parenting and child development expert, and author who specializes in the social and emotional development of children, recently returned from Washington, DC where she was invited to work on children’s emotions and policy issues with the America First Policy Institute. In other words, when it comes to the importance of EI, Daniels knows what she’s talking about.

    “Today,” she said, “when the lives of children have been upended—by the pandemic, by social media, by grief and loss—children need age-appropriate emotional coping skills more than ever.” But to actually develop these skills, she concluded, “children need a strong foundation in emotional literacy: the ability to understand and manage their own complex feelings, and to recognize those of others.”

    This is where schools come in. In these highly turbulent times, with people of all ages and political beliefs locking horns over various issues, we need more resilient citizens, the type of people willing to listen to the other side and channel their own emotions in a constructive manner.

    Tyler Durden
    Mon, 06/26/2023 – 23:00

  • Watch: Chinese Warplanes Come Close To Taiwan's 24-Mile Zone
    Watch: Chinese Warplanes Come Close To Taiwan’s 24-Mile Zone

    Authored by Dave DeCamp via AntiWar.com,

    The Taiwanese Defense Ministry said that eight Chinese People’s Liberation Army (PLA) warplanes came close to Taiwan’s contiguous zone, which extends 24 nautical miles off the island’s coast.

    Since then-House Speaker Nancy Pelosi (D-CA) visited Taiwan in August, PLA warplanes have regularly crossed the median line, an informal barrier that separates the two sides of the Taiwan Strait that the PLA used to avoid. But there have been no reports of Chinese aircraft entering Taiwan’s contiguous zone.

    Getty Images

    The Taiwanese Defense Ministry wrote on Twitter that Taiwan’s “Armed Forces detected 19 PLA aircraft (including J-10, J-16, etc.), eight of which crossed the median line of the Taiwan Strait and approached the 24-nautical-mile line.”

    China has kept up the military pressure on Taiwan as the US has continued to increase support for Taipei, including the deployment of about 200 US troops to the island, the largest-known US military presence in Taiwan since 1979.

    Taiwanese Defense Minister Chiu Kuo-cheng said earlier this year that China will use Taiwan’s growing military and diplomatic ties as an excuse to fly closer to the island. Chiu expected the PLA to enter the contiguous zone if House Speaker Kevin McCarthy (R-CA) visited Taiwan.

    McCarthy ended up hosting Taiwanese President Tsai Ing-wen in California in April instead of traveling to Taiwan. The meeting provoked major Chinese military exercises around Taiwan, but they were not as extensive as the drills launched by the PLA in response to the Pelosi visit.

    Chiu said that if PLA warplanes enter the contiguous zone, Taipei would “restrain ourselves from launching the first strike to avoid giving China an excuse to attack Taiwan.”

    But if Chinese aircraft enter Taiwan’s airspace, which extends 12 nautical miles from its coast, Chiu said Taiwanese forces would respond.

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    “We would be forced to respond should Chinese military vessels and aircraft come near or enter the nation’s airspace and territorial waters, even if they are in disputed areas,” he said.

    Tyler Durden
    Mon, 06/26/2023 – 22:20

  • BlackRock CEO Drops "ESG" Term After Blowback
    BlackRock CEO Drops “ESG” Term After Blowback

    On Sunday, BlackRock CEO Larry Fink revealed at the Aspen Ideas Festival that he had abandoned the term “ESG” (environment, social, and governance) because it has been highly politicized and even “weaponized,” and he is “ashamed” to be part of the debate, according to Axios

    Fink acknowledged at the event that Florida Gov. Ron DeSantis’ decision to yank $2 billion in assets hurt his firm. Gov. DeSantis pulled state assets managed by the world’s largest money manager in late 2022 over “woke” capitalism policies. 

    Lawmakers from red states have called out BlackRock for its toxic woke capitalism push in corporate America. Besides Florida, states like Louisiana, South Carolina, Utah, Arkansas, West Virginia, Missouri, and Texas have withdrawn funds from the asset manager. 

    Recall Fink was very nervous earlier this year over the ‘demonization‘ of ESG. 

    Source: Bloomberg 

    Last month, seventeen Republican state attorneys filed a motion with the Federal Energy Regulatory Commission to dispute whether BlackRock could purchase more than $10 million voting stakes in utility companies. 

    “These elitists are trying to impose restrictions on energy companies and utilities that would never win approval at the ballot box. 

    “Their schemes could raise utility bills for regular Americans, including elderly Hoosiers on fixed incomes, and they could diminish the value of their investment accounts,” Indiana Attorney General Todd Rokita said in a statement last month. 

    Fink, 70, said he was “ashamed of being part of this conversation,” adding:

    “When I write these [investment] letters, it was never meant to be a political statement. … They were written to identify longterm issues to our longterm investors.” 

    Of course, that’s nonsense. Fink has been at the center of pushing ‘climate change’ policies and has even said his company would “force behaviors” on corporate America. 

    And then there’s this… 

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    Axios said at the event: 

    When pressed on the statement later in the conversation, Fink backtracked.

    “I never said I was ashamed,” he said, incorrectly. “I’m not ashamed. I do believe in conscientious capitalism.”

    “I’m not going to use the word ESG because it’s been misused by the far left and the far right,” he added.

    Fink isn’t ashamed of ESG… He’s furious the scheme to ram woke capitalism down corporations through voting proxies has hit a serious snag and generated serious blowback from lawmakers and average Americans.

    Here are some of BlackRock’s top holdings. 

    The billionaire will always champion ESG.

    It will just be rebranded under another name. 

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    Tyler Durden
    Mon, 06/26/2023 – 22:00

  • Politicians Meet The Polygraph
    Politicians Meet The Polygraph

    Authored by Lloyd Billingsley via American Greatness,

    Back in 1986, members of the Reagan cabinet said they were willing to take drug tests to set an example for federal workers and the public. That caught the attention of Jay Leno, who recommended IQ tests instead. Better still, Wayne Allyn Root now contends, would be lie detector tests, an idea that “threatens the power structure of the entire American political system and U.S. government.” 

    Politicians have sold us out, Root believes, and to save the nation we must demand that politicians and government officials face off with the polygraph. Root’s questions include:

    • Are you now, or have you ever been on China’s payroll? Or the CCP payroll?

    • Are you now, or have you ever been on the payroll of the Mexican drug cartels?

    • Are any of your family members or friends on any of these foreign payrolls?

    • Do you have an offshore bank account? Does anyone in your family accept payoffs in an offshore account?

    • Do you accept illegal campaign contributions from any foreign interests?

    • Are you on the payroll of any Big Pharma company or vaccine manufacturer? Do you have family members or friends on the Big Pharma payroll or receiving stock or stock options from Big Pharma?

    • Are you being blackmailed, or have you ever been blackmailed?

    • Have you given government contracts to spouses, family members or friends?

    • Have you passed inside information on public companies to family or friends, and shared in the profits?

    • Are you 100 percent loyal to the interests of America and your constituents?

    Examiners could also ask:

    • Have you ever employed a Chinese spy on your staff for 20 years?

    • Have you ever demanded that Facebook or Twitter take down a post?

    • Did you ever falsely claim to have served in Vietnam?

    And so on.

    Root believes “we’d have to replace virtually the entire House, Senate, every federal judge and every government bureaucrat.” That may be a stretch but the test itself is on solid ground.  

    Candidates for the Border Patrol are required to undergo polygraph tests. The FBI has used polygraph tests since 1935 and ramped them up in the wake of FBI spy Robert Hanssen, who eluded the agency for at least 15 years. The CIA uses polygraph tests in the hiring process and for security clearances. A polygraph examiner for the CIA conducts two sessions per day in an “unrelenting job” that can require duty abroad.

    Politicians make laws, spend the people’s money, deal with foreign adversaries and swear to uphold the Constitution. So it’s entirely reasonable that politicians face the polygraph, and current conditions also make a case for DNA tests, which don’t lie. Consider, for example, Senator Elizabeth Warren (D-Mass.).

    Her claim to be a Cherokee was the basis for her career, from law school to Harvard—which proclaimed Warren a “woman of color”—to the U.S. Senate. As a DNA test before her first run for office would have shown, Warren is not a Cherokee. Despite the blatant falsehood, Warren failed to resign, remained in the Senate, and ran for president.

    San Diego Democrat Ammar Campa-Najjar, a two-time candidate for Congress, is the grandson of Muhammad Abu Youssef al-Najjar, mastermind of the terrorist attack at the 1972 Munich Olympics that claimed the lives of 11 Israeli athletes. Ammar’s father, Yaser al-Najjar, was also a fugitive but Ammar claims he moved to the United States and married a Mexican woman.

    Candidate Ammar, who also lived in Gaza, has billed himself as a “Palestinian Mexican” and “Latino Arab American.” A DNA test would clear it up but the candidate has not volunteered.  Ammar recently lost a race for mayor of Chula Vista and former California Senate boss Kevin de Leon recently survived a recall effort on the Los Angeles city council.

    Back in 2017, de Leon suddenly claimed his father Andres was a Chinese cook born in Guatemala, where his mother Carmen Osorio was also born. A DNA test would have revealed the truth, but no such test took place.

    Questions about origins must also include the president David Garrow chronicled in Rising Star: The Making of Barack Obama. Back around 2008, the Hillary Clinton campaign floated a rumor that the former Barry Soetoro had been born abroad, and was therefore not eligible to be president. That turned out to be false, and the “birthers” were wrong. The real question was the identity of the father.

    The poet “Frank” in Dreams from My Father turns out to be Frank Marshall Davis, an African American Communist who dedicated most of his life to an all-white Soviet dictatorship. Garrow raised the issue and revealed that Dreams from My Father was a work of “historical fiction” and the author a “composite character.”

    The Kenya section borrows heavily from I Dreamed of Africa and African Nights, by Italian writer Kuki Gallmann. The written materials of the Kenyan Barack Obama, housed at the Schomburg Center for Research in Black Culture in Harlem and covering the years 1958-1964, make not a single mention of a white American wife and Hawaiian-born son.

    Malik Obama, son of the Kenyan, wondered if the president could be “a fraud and a con,” and in 2015 Malik said he was willing to take a DNA test. So far no response from the composite character, the most powerful man in the world for eight years, aiming to fundamentally transform the United States of America.

    “If you like your doctor, you’ll be able to keep your doctor. If you like your health care plan, you’ll be able to keep your health care plan,” said the composite character president in 2009, and on many other occasions.

    Read my lips, no new taxes,” said George H. W. Bush in 1988. No need for a polygraph to detect those lies. And as some folks might remember: “There is no Soviet domination of Eastern Europe, and there never will be under a Ford Administration,” said the president of the United States in 1976.

    That one is hard to top. Maybe Jay Leno was on to something.

    Tyler Durden
    Mon, 06/26/2023 – 21:40

  • ERCOT Power Demand Hits Record As Heat Dome Bakes Texas
    ERCOT Power Demand Hits Record As Heat Dome Bakes Texas

    It’s extremely hot in Texas this afternoon. As of 1630 local time Monday, the Electric Reliability Council of Texas, the state’s grid manager, reported electricity demand hit a record high of 80,200 megawatts as millions of people cranked up their air conditioners to escape triple-digit temperatures. 

    The previous record for demand was 80,148 megawatts last July. “That marked the 11th time last summer electricity demand broke the all-time record, and was the first time Texas had exceeded 80,000 megawatts,” the Houston Chronicle said. 

    Bloomberg data shows high temperatures across the state will average over 100 degrees Fahrenheit through the end of the month. 

    The reason for the scorching temperatures is because of a weather system called a “heat dome” that stalled over Texas, Oklahoma, and parts of Mexico. The system will shift to Arkansas, Louisiana, and Kansas early next month. 

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    ERCOT is vulnerable to extreme weather and has so far held up, as half of the electricity generated on the grid today is derived from natural gas-fired power plants, with another 20% from coal and nuclear plants. About 11% came from wind, and 14% came from solar. 

    Earlier this month, “Texas Grid Faces First Big Test As Record Power Demand Imminent On Triple-Digit Temp Threat.” And ERCOT survived. Now the next big test is underway.

    Tyler Durden
    Mon, 06/26/2023 – 21:20

  • Pentagon's "Woke" Agenda Dividing, Weakening The Military: Former Space Force Officer
    Pentagon’s “Woke” Agenda Dividing, Weakening The Military: Former Space Force Officer

    Authored by J.M.Phelps via The Epoch Times,

    Military service members have been increasingly exposed to a “hyper-politicized and sexualized work environment,” according to a former lieutenant colonel, who says the resulting divisiveness is weakening the U.S. Armed Forces.

    The Pentagon’s diversity, equity, and inclusion (DEI) policies have drawn increased and intense scrutiny in recent years, especially from conservatives, who dubb these moves as part of the “woke” agenda.

    Lt. Gen. DeAnna Burt, deputy chief of space operations, said that “anti-LGBTQ+ laws” introduced by state legislatures are affecting hiring decisions. At a recent Pentagon pride event, she said, “Transformational cultural change requires leadership from the top, and we do not have time to wait. Since January of this year, more than 400 anti-LGBTQ+ laws have been introduced at the state level.”

    “That number is rising and demonstrates a trend that could be dangerous for service members, their families, and the readiness of the force as a whole,” she added.

    The Epoch Times spoke to former Space Force officer, Lt. Col. Matthew Lohmeier, who in 2021 was removed from his command for expressing opposition to Marxist-rooted critical race theory (CRT). According to him, there is no place for this kind of advocacy from Burt in the U.S. military.

    “Americans should know that when someone signs up to wear the uniform of their country, they’re trained early on to leave political baggage at the door and to be rather apolitical while acting in an official capacity.”

    Service members often avoid discussing political topics, because as Lohmeier pointed out, “there is something that supersedes those topics for men and women in uniform—and that’s a particular mission in support of national security.”

    “One can make arguments that the military became more political during the Clinton, or during the Obama administration,” he said. “But something radically, fundamentally shifted under the current administration with Lloyd Austin in the seat as secretary of defense.”

    Matthew Lohmeier. (Courtesy of Lohmeier)

    Cultural Dialogue

    Lohmeier said, “At the forefront of the cultural dialogue in the military is what has been driven by policy.” Under then-President Donald Trump, in September 2020, federal agencies were banned from conducting diversity and inclusion training in an effort to combat race and sex stereotyping. Such training was referred to in the executive order as “divisive, anti-American propaganda” funded by taxpayers.

    When President Joe Biden came into office in January 2021, he rescinded Trump’s order and issued several executive orders promoting DEI in the federal government.

    “While the military has always been, by and large, a reflection of broader American society,” Lohmeier said, “there is something very different going on right now in this current administration.”

    “Left-wing activists have essentially been given a bully pulpit,” and according to Lohmeier, “it is politically agitating.” Whether it’s the push for CRT, DEI, the LGBT agenda, or trans activism, he said it is “divisive in nature because not everyone aligns with or agrees with those agendas, and instead view them as a distraction from what our military’s priorities ought to be.”

    But equally concerning to him is that “these agendas strike at the values of the military and its role in defending the Constitution.” As most service members attempt to remain apolitical, Lohmeier said, “they are finding themselves in a hyper-politicized and sexualized work environment at the moment.” And if they oppose the environment, “they are labeled as politically partisan and simply ‘part of the problem’ and are ostracized for it.”

    US Defense Secretary Lloyd Austin speaks during the 155th National Memorial Day Observance at Arlington National Cemetery in Arlington, Va., on May 29, 2023. (Mandel Ngan/AFP via Getty Images)

    Drag Controversy

    An active-duty Air Force officer reached out to Lohmeier in May, sharing an advertisement for an upcoming “family-friendly” drag show event to kick off Pride Month. The event was scheduled for June 1 at Nellis Air Force Base in Las Vegas. “The drag show was to be hosted on base at the officer’s club and was sponsored by and funded by the base—which means your taxpayer dollars,” he said.

    Lohmeier’s source said his family was concerned about the event and they were not alone. “There were other families on base concerned about the event. Even though attendance at the event wasn’t compulsory, flyers were being posted around base and parents were distressed about their children being subjected to the content of those flyers,”Lohmeier said.

    Thus, an effort to stop the event began. “I sent information about the event with the promotional flyer to members of Congress, [and] I tweeted about it,” he said. “A few members of Congress, in particular, Rep. Matt Gaetz (R-Fla.) took swift action.”

    Rep. Matt Gaetz (R-Fla.) looks on during a House Armed Services Committee hearing on the defense budget request on Capitol Hill in Washington on March 29, 2023. (Andrew Caballero-Reynolds/AFP via Getty Images)

    Gaetz sent a letter to Defense Secretary Lloyd Austin and Chairman of the Joint Chiefs of Staff General Mark Milley, “demanding answers as to why these things are still taking place on DOD installations, because [on March 29], the Secretary of Defense in a hearing before Congress said that the Defense Department is not using taxpayer dollars to fund drag shows.” But to the contrary, Gaetz provided evidence of DOD-affiliated drag queen events.

    For Lohmeier, the secretary was “either ignorant or being disingenuous,” but he is thankful a policy memorandum was issued in early June to end drag shows at Department of Defense installations around the world.

    On June 21, House Armed Services Committee Republicans adopted provisions in the annual defense spending bill to eliminate the chief diversity officer at the Pentagon, end funding for DEI programs, as well as other measures targeting “woke” policies.

    Lessons Learned

    Lohmeier said there are lessons to be learned through this example of opposition to drag queen events at Pentagon facilities.

    “While there are thousands concerned about drag queen shows and story hours, it only took one person to send a request for help and it made all the difference,” he said. “Men and women in uniform need to learn that it’s not off limits to speak up and voice your concern, because you could make changes in policy when you do so.”

    There are still thousands of service members who love their country, Lohmeier said. “They take pride in the country and the greatness of the American ideal, and they are willing to fight for and defend that ideal,” he said.

    “The best men and women in uniform defend the Constitution for every American, but they need not bow to the political agenda of a select few.” And as various left-wing movements grow, he said, “We need decent people with traditional American values serving in the police force, in the schools, and in the military to shield us from illegal, unethical, or immoral policies that often stem from political and sexual activism run amok.”

    “The LBTGQ+ agenda is every bit as divisive for our military as the Marxist-rooted CRT,” Lohmeier said. “It’s every bit as divisive as the diversity and inclusion training that need to be eliminated.”

    “If we are going to be strong, if we are going to be ready, if we are going to be lethal,” Lohmeier said, “it will be because of unity.” For him, “the strength of the military is in its unity, not in its diversity.”

    The Department of the Air Force and Department of Defense did not return requests for comment from The Epoch Times.

    Tyler Durden
    Mon, 06/26/2023 – 21:00

  • "My Fear Is When Push Finally Comes To Shove" Copper Can Go Up 10 Times, Warns Billionaire Mine-Owner
    “My Fear Is When Push Finally Comes To Shove” Copper Can Go Up 10 Times, Warns Billionaire Mine-Owner

    We have all seen news headlines for lithium, cobalt, nickel, and other rare-earth metals needed for electric vehicle batteries and the entire electricity infrastructure. The Biden administration has announced a series of moves to secure America’s ‘supply chain for critical minerals.’ Rarely discussed, however, is copper, one essential metal at the heart of the energy transition.  

    In an interview on Monday, billionaire mining investor Robert Friedland told Bloomberg TV that the mining industry is failing to increase supply ahead of ‘accelerating demand.’ He said deposits are getting more expensive and harder to find, funding is limited, and economies have to prepare for the importance of the mining industry to lead the energy transition. 

    “We’re heading for a train wreck here,” Friedland said at Bloomberg’s New York headquarters. 

    He’s the founder of Ivanhoe Mines Ltd. and warned: “My fear is that when push finally comes to shove,” copper prices might explode ten times. 

    Long-term of Copper futures 

    The world is facing a crisis of supply in copper, with not enough mines being built to satisfy future demand, he said. Ivanhoe has mines in South Africa and the Democratic Republic of the Congo. 

    Copper is essential in electric vehicle motors and batteries, as well as cabling and transformers, to build out the nationwide electric vehicle charging infrastructure in the US and worldwide. 

    According to a recent S&P Global report, EVs require twice as much copper as an internal combustion engine vehicle. The report said copper demand will double to 50,000,000 metric tons annually by 2035, more than all the copper consumed worldwide between 1900 and 2021.

    Friedland’s longer-term view of higher copper prices is supported by a combination of decarbonization efforts globally, rising China demand, the emergence of India, and the modernization of militaries after the Ukraine war. 

    He said the market has yet to realize the significance of copper and how it is essential to decarbonization efforts. He noted there are very low physical inventories of copper with historically low relative valuations of mining companies. 

    Friedland pointed out that recent acquisitions of mines at high premiums indicate the mining industry is aware prices of the metal are headed higher. He said the tightening of the copper market could increase prices like other commodities in recent years. 

    “When metals are required, the prices go crazy and nobody’s willing to sell them,” he said. “We’re heading into that sort of situation.”

    Even with increasing gloom about the global economy as global central banks tighten interest rates, Friedland remains very bullish on copper. 

    Tyler Durden
    Mon, 06/26/2023 – 20:40

  • 65% Of Teenagers Are Targets Of "Sextortion" Schemes: Study
    65% Of Teenagers Are Targets Of “Sextortion” Schemes: Study

    Authored by Naveen Anthrapully via The Epoch Times,

    Almost two-thirds of teenagers globally have been targeted for “sextortion” schemes by criminals seeking to pressure victims into sexual activity or extort money, according to recent research.

    Sixty-five percent of Generation Z teens and young adults have been targets of “catfishing” scams across popular social media platforms or had their personal data hacked by criminals, according to a June 21 report by Snapchat’s parent company Snap Inc. and published by the WeProtect Global Alliance.

    “In both scenarios, the resulting photos and videos were then used to threaten or blackmail the young people, with abusers demanding money, gift cards, more sexual imagery, or other personal information in supposed exchange for not releasing the material to the young person’s family and friends,” the report said.

    Catfishing refers to pretending to be someone else to find victims to exploit online.

    According to the FBI, sextortion begins when a predator reaches out to a young person online through gaming sites, dating apps, or social media accounts.

    The predator then acts like someone in the age group of the minor who is interested in beginning a relationship or is offering something of value. The adult can use inducements like gifts or money and other methods to get the young person to send sexually explicit images or videos.

    The predator then asks for more such content. When the child refuses, the criminal can threaten to publish the content in their possession online or warn them about other harms they can inflict, pressuring the victims to send more explicit images and videos.

    The Snap Inc. study surveyed over 6,000 respondents from six nations, including the United States. Seventy-one percent of respondents who got trapped in a catfishing scheme were asked to share intimate imagery or personal info. While a net 31 percent shared intimate imagery, 30 percent revealed their personal information.

    Twenty-five percent of the victims provided private information as well, which refers to details about their family and friends.

    “Scammers may not be looking solely for immediate financial (or other) return from the target. Rather, their goal might be to widen their net to ensnare more people or to try to entice others for sexual relationships or other interactions,” the report said.

    J. Edgar Hoover FBI building in Washington on March 28, 2023. (Madalina Vasiliu/The Epoch Times)

    In a public service announcement on June 6, the FBI warned that criminals were using social media photos and videos, including those of minors, and altering them into sexual content.

    “The photos or videos are then publicly circulated on social media or pornographic websites, for the purpose of harassing victims or sextortion schemes,” the agency said while urging people to “exercise caution” when posting photos and videos of themselves online.

    According to the FBI, individuals who engage in sextortion schemes against youngsters “have studied how to reach and target children and teens.”

    “One person the FBI put in prison for this crime was a man in his 40s who worked as a youth minister so he could learn how teens talked to each other,” the agency said.

    “Then, he created social media profiles where he pretended to be a teenage girl. This ‘girl’ would start talking to boys online and encourage them to make videos.”

    Reaching Out for Help

    According to the WeProtect report, 56 percent of catfished or hacked victims are male.

    “For young males who have experienced a sextortion incident—and the majority are males—they regularly tell us that when they share the situation with their parents, they feel relieved,” said Arda Gerkens, president of the Dutch child abuse hotline Offlimits.

    “We advise them to report to hotlines and helplines; to report to the platforms; and to tell their parents, a friend, or a trusted adult. They should not be going through this alone.”

    The study found that 56 percent of respondents said that they or their victimized friends sought help after being threatened by approaching their friends, parents, or trusted adults. Fifty-one percent reported the incident to the platform, law enforcement, or a hotline.

    Meanwhile, the FBI advises parents to monitor the online activities of their children as well as run frequent searches online to know how much information about their kids is publicly available.

    “Consider using reverse image search engines to locate any photos or videos that have circulated on the internet without your knowledge,” the agency said.

    Sextortion of Minors

    According to a December 2022 press release by the FBI, law enforcement had received more than 7,000 reports of online financial sextortion of minors in the past year. This resulted in at least 3,000 victims, mostly boys, and over a dozen suicides.

    A large percentage of such schemes were found to originate in nations outside the United States, primarily in West African countries like Ivory Coast and Nigeria.

    Data from the National Center for Missing & Exploited Children (NCMEC) show that its CyberTipline has received over 262,000 reports of online enticement, including sextortion, since 2016. Between 2019 and 2021, the number of reports involving sextortion more than doubled.

    In NCMEC’s earlier analysis, the dominant motive of the offenders was found to be aimed at getting more explicit images of children. However, reports from early 2022 showed that 79 percent of offenders were now after money.

    In a May 3 press conference, Jennifer Buta, the mother of a 17-year-old boy from Michigan who committed suicide after being a victim of a sextortion scheme, asked parents to have “tough conversations” with their children about the dangers such scams pose.

    “Kids, teenagers, young adults, and even adults can be a target of sextortion. We urge you to have discussions about this and have a plan for your children to reach out if it does happen to them,” she said.

    People living in the United States having suicidal thoughts can call the National Suicide Prevention Lifeline at 800-273-8255 for free and confidential support. For Spanish support, contact 888-628-9454. Crisis Text Line offers a live, trained crisis counselor via a simple text for help. The UK’s National Health Service also lists a variety of resources on its website.

    An app created by Befrienders Worldwide helps distressed people connect with an emotional support center close by.

    Tyler Durden
    Mon, 06/26/2023 – 20:20

  • Companies Should Focus On Their Products, Not Preach ESG To The Public
    Companies Should Focus On Their Products, Not Preach ESG To The Public

    Authored by Gabriël Moens via The Epoch Times

    During the last couple of years, an increasing number of companies have subscribed to the environmental, social and governance (ESG) framework, promising to adhere to, and promote, the goals of corporate social responsibility and sustainable business strategies.

    These ESG-oriented companies embrace non-financial accountability indicators to assess the implementation of systems and processes that manage their carbon footprint and treatment of employees, suppliers, and other stakeholders.

    The ESG criteria include a commitment to lower “greenhouse gas emissions and CO2 footprint” to support “LGBTQ+ rights and … all forms of diversity.”

    The success of the implementation of ESG depends on whether its criteria “encourage companies to drive real change for the common good, or merely check boxes and publish reports.”

    The growing list of companies that have committed themselves to ESG reveals that most of these embrace the official narrative on climate change and demonise coal and gas even though these are reliable and clean resources, the use of which would lower electricity prices.

    This picture shows a conveyor bridge dumping soil and sand removed at another area of the mine in the town of Singleton, in Newcastle, Australia, on Nov. 5, 2021. (Saeed Khan/AFP via Getty Images)

    Some obligations imposed by ESG on companies are already legislatively mandated. For example, section 134(3)(m) of the Companies Act 2013 requires the inclusion of a report by companies” Board of Directors on the conservation of energy and a listing of the equipment used to achieve that result.

    The ESG Framework received a boost from the adoption in 2015 of the United Nations 2030 Agenda for Sustainable Development as a plan of action to end poverty, protect the planet, and ensure prosperity for all people around the world.

    The U.N. Agenda contains 17 integrated sustainable development goals and 169 associated specific measurable targets. A prominent feature of the agenda is the emphasis on the role of the private sector in advancing and achieving sustainable development initiatives, working in partnership with governments, civil society, and other stakeholders.

    Foray Into Politics

    Of course, companies’ interest in social responsibility and sustainability is commendable. However, this interest has sometimes been used as an excuse to enter the political arena.

    Specifically, several companies have declared their support for social engineering programmes and unrealistic sustainable development goals. Sporting and religious organisations have also often joined the world of politics.

    For example, readers would recall that Qantas relentlessly supported the same-sex marriage campaign, which resulted in the adoption by the Turnbull government of marriage equality in 2017.

    With regards to race relations, several Australian churches and religious leaders have backed the Voice proposal and encouraged their members to vote “Yes” because they perceive this as the right thing to do.

    Very recently, Tennis Australia has called on the International Tennis Federation (ITF) and the Women’s Tennis Association (WTA) to adopt rules regarding the participation of transgender athletes in women’s competitions.

    In this context, the CEO of Tennis Australia, Craig Tiley, told the Sydney Morning Herald that “We are an organisation that believes absolutely in inclusivity, in diversity, in equality—so any decision made will need to be aligned with our core values.”

    Craig Tiley, Tennis Australia CEO speaks during a Tennis Australia x Roland Garros 2023 preview media opportunity at Melbourne Park, Australia, on May 23, 2023. (Darrian Traynor/Getty Images for Tennis Australia)

    The Transgender Inclusion Guidelines for Community Tennis specifically state,  “Players who identify as women should be allowed to play as women; players identifying as men should be allowed to play as men.”

    Most of the time, these actions are not based on or supported by rigid analysis but rely merely on “feelings” and vague ideas of “compassion” and “justice.”

    But more importantly, in participating in politics, these institutions radically change the purposes for which they were established.

    In the case of companies, their function is to make money for their shareholders and to provide quality service to their customers.

    While businesses and corporations will want to keep abreast of the financial and economic management of the nation, their forays into the world of social engineering politics surely divert from their real function and are incompatible with their declared mission.

    Driving Away the Traditional Base

    Big business and sporting organisations also seem to tolerate the imposition of political correctness codes on people, promote the “cancel culture” movement, and condone the teaching of critical race theory in schools and universities, all of which adversely affect people’s right to freely express their opinion.

    In addition, the relentless pursuit by the government of its Voice referendum, aimed at entrenching this body into the Constitution, has divided Australia based on race.

    There is no doubt that these developments have alienated stakeholders and members of these companies and institutions.

    For example, many members of the Liberal Party believe that their views are routinely disregarded and even ridiculed by the party in the pursuit of nebulous and untested notions of “diversity” and “inclusiveness.”

    The Moira Deeming affair, which involved her expulsion from the Liberal Party for attending a pro-women rally, the rejection of membership applications based on perceived Christian views in South Australia, and the support of Queensland’s Path to Treaty Act—which provides for truth-telling and the conclusion of treaties with Aboriginal people—surely have driven away scores of once-committed members of the Liberal Party.

    Similarly, it is difficult for a Christian to stay as a practising member of his or her church if it embraces secular practices and ideas that are antithetical to its core teachings and even allows the incorporation of pagan practices in its rituals.

    In this context, writer Joel Agius has argued that Catholics “are fed up with the Catholic Church being pushed towards something that is more of the world than of God.”

    Where can these people who are no longer comfortable in their natural homes go? Are they the unfortunate victims of the implementation of ESG by Australian organisations?

    Whichever way these questions are answered, there is a discernible need to ensure that the implementation of the ESG Framework does not affect the true function of organisations in Australia.

    Tyler Durden
    Mon, 06/26/2023 – 19:40

  • Musk's Twitter Faces Millions In Fines After New 'Disinformation' Laws Released In Australia
    Musk’s Twitter Faces Millions In Fines After New ‘Disinformation’ Laws Released In Australia

    Authored by Daniel Teng via The Epoch Times,

    Elon Musk’s Twitter and other social media giants face the prospect of billions in fines after the Australian government released new laws targeting “misinformation and disinformation.”

    Following a months-long process, Communications Minister Michelle Rowland released the draft legislation that will grant the country’s media regulatory body, the Australian Communications and Media Authority (ACMA), greater powers to stamp out harmful content online.

    “Mis and disinformation sows division within the community, undermines trust, and can threaten public health and safety,” the Labor communications minister said in a statement on June 26.

    “This consultation process gives industry and the public the opportunity to have their say on the proposed framework, which aims to strike the right balance between protection from harmful mis and disinformation online and freedom of speech.

    The government has pledged that ACMA will not have the power to determine what is “true or false” on individual posts and will have no impact on “professional news content or authorised electoral content.”

    New Standards and Penalties

    The Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2023 introduces a two-tiered system to regulate mis- or disinformation online.

    The first tier will see ACMA request social media companies develop a code of practice (industry codes), which will be registered and enforced by ACMA—similar to the telecommunications industry.

    A breach of this code will attract significant penalties, including a $2.75 million fine or two percent of global turnover—whichever is greater.

    If the code fails, the second tier of regulation will see ACMA itself create and enforce an industry standard (a stronger form of regulation) that will attract even higher penalties of $6.8 million or five percent of global turnover—millions for Twitter and billions for companies like Meta (Facebook).

    These laws are meant to strengthen existing voluntary codes developed by the Digital Industry Group.

    The federal opposition has earmarked concerns around how ACMA will determine what is “mis- or disinformation.”

    “This is a complex area of policy, and government overreach must be avoided,” said David Coleman, the shadow communications minister.

    “The public will want to know exactly who decides whether a particular piece of content is ‘misinformation’ or ‘disinformation.’

    “The significant penalties associated with this legislation potentially places substantial power in the hands of government officials,” he said in a statement online.

    While former deputy chief medical officer Dr. Nick Coatsworth, who has had public disagreements with other doctors over lockdown policies and vaccines, was also sceptical of the laws.

    “Misinformation is an accusation thrown so readily that such legislation would be impossible to implement; and if it was implemented, would inevitably lead to fines being levied for things that are not, or turn out not to be,” he wrote on Twitter.

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

    The public is encouraged to submit recommendations on the legislation prior to Aug. 6, 2023.

    Musk’s Ongoing Clash with Australian Authorities

    ACMA is Australia’s broadcast authority, which has a wider purview than the eSafety commissioner, who focuses purely on online content.

    Just days earlier, the commissioner threatened Twitter with daily fines of up to $700,000 (US$476,000) unless it explained what it was doing to combat “hate speech” on its platform.

    The commissioner says it has received “more complaints about online hate on Twitter in the past 12 months” than any other platform and alleges an “increasing number” of reports of serious online abuse since Musk took over in October 2022.

    Commissioner Julie Inman Grant also apportioned blame for the increase in “hate speech” on Musk’s decision to cut Twitter’s global workforce from 8,000 to 1,500 (including its “trust and safety teams”) and ending its public policy presence in Australia.

    Musk has indicated that the staff cuts were necessary because the company was inefficient and overstaffed—despite being publicly listed and widely used, Twitter is yet to turn a profit consistently.

    Rob Nicholls, an associate professor at the University of New South Wales, said there is no right to freedom of speech in Australia, and there was only an “implied right of political communication.”

    This right was not legislated either but was extracted from common law by judges.

    “As usual in an Australian environment, not doing what you say is more problematic from a regulatory perspective than problematic conduct,” he previously told The Epoch Times via email.

    “It’s important to note that the eSafety commissioner’s comments were about Twitter promoting hate speech when it has a policy to prohibit hateful conduct on the platform.”

    Nicholls has said that Twitter’s lack of a public policy presence in Australia to engage with authorities will work against the social media giant’s favour.

    Tyler Durden
    Mon, 06/26/2023 – 19:00

  • Fox News Unveils Replacement For Tucker Carlson
    Fox News Unveils Replacement For Tucker Carlson

    Jesse Watters will replace Tucker Carlson for the 8pm slot, Fox News announced on Monday.

    Watters, who started out doing ‘man on the street’ segments on Bill O’Reilly’s 8PM program, will now helm that same time slot, according to a press release.

    Taking over Watters’ 7PM slot will be Laura Ingraham, while Greg Gutfeld will move his show to the 10PM time slot. Sean Hannity will remain in his 9pm time slot.

    “Fox News Channel has been America’s destination for news and analysis for more than 21 years and we are thrilled to debut a new lineup,” said CEO Suzanne Scott in a statement. “The unique perspectives of Laura Ingraham, Jesse Watters, Sean Hannity and Greg Gutfeld will ensure our viewers have access to unrivaled coverage from our best-in-class team for years to come.”

    Fox announced in late April it was parting ways with Carlson just days after the outlet announced it was also parting ways with Dan Bongino. Carlson has since started hosting his own show on Twitter, prompting a public legal battle between Fox News and the Daily Caller co-founder. -Daily Caller

    Carlson was slapped with a “cease and desist” order in mid-June for allegedly breaching his contract’s non-compete clause with his new Twitter show.

    The former Fox host’s combined total for his first two shows was 169 million views, with the first episode cracking over 100 million in two days.

    Tyler Durden
    Mon, 06/26/2023 – 18:40

  • Prologis Acquires $3.1 Billion Warehouse Portfolio From Blackstone
    Prologis Acquires $3.1 Billion Warehouse Portfolio From Blackstone

    By Todd Maiden of FreightWaves

    Logistics real estate operator Prologis announced Monday it entered into an all-cash agreement to acquire a $3.1 billion portfolio of warehouses and distribution properties from Blackstone, a sign that industrial space remains – along with rental  housing – the strongest property type in the shaky commercial property sector.

    Prologis Port Reading in Carteret

    The acquisition includes nearly 14 million square feet of space from various real estate funds held by Blackstone. The deal allows Prologis to expand its presence in key markets like Atlanta, Dallas, Las Vegas, New York/New Jersey and Phoenix. Sites in Southern California, the San Francisco Bay Area and South Florida are also included. Prologis will add 77 new customers and expand its relationships with 50 existing clients through the transaction.

    The company plans to retain all of the properties acquired. Prologis, a REIT, is the world’s largest industrial property company with 1.2 billion square feet in 19 countries. Last year it acquired competitor Duke Realty in a $26 billion all-stock transaction, the largest commercial property deal since the pandemic began.

    “These high-quality properties are complementary to our portfolio and fit perfectly into our long-term strategic plan for growth,” said Dan Letter, Prologis’ president. “The acquisition demonstrates our unique ability to add significant scale to our portfolio — expanding customer relationships and increasing opportunities for our growing Essentials platform.”

    Prologis Park Palmer Lakes Airport East in Miami

    The deal price represents a 4% cap rate (net operating income divided by market value of property) in year one and a 5.75% cap rate when adjusting the leases in the portfolio to current market rents.

    Prologis and Blackstone have engaged in more than a dozen transactions with each other over the last 11 years, a news release stated.  

    “Where you invest matters, and this transaction demonstrates the exceptional demand for high-quality warehouses,” said Nadeem Meghji, head of Blackstone Real Estate Americas. “With near record low vacancy, logistics remains a high conviction theme for us; we are proud owners of $100 billion of warehouses in North America and $175 billion in total around the world.”

    Investment giant Blackstone is also a major investor in industrial real estate, with a global portfolio valued at $175 billion, and is continuing to buy warehouses and distribution centers. The assets it is selling to Prologis are held by Blackstone’s opportunistic funds, which typically sell properties after holding them long enough to see an increase in values.

    Prior to this transaction, Prologis owned 1.2 billion square feet of logistics space across 19 countries.

    While most commercial property types have been hurt by higher interest rates, which have greatly increased borrowing costs for developers and investors, industrial space has weathered the storm better than other property types such as office, which has gotten pounded by the increase of remote work in the pandemic era.

    As the WSJ notes, demand for industrial space has remained strong thanks to the economic growth and the boom in online retail, which has required an overhaul of the supply chain. Nearly 60% of the portfolio being acquired from Blackstone by Prologis are properties in cities or close to consumers, which are prized by e-commerce tenants wanting to deliver packages to consumers within a few days.

    While Amazon continues to dominate the e-commerce business, demand for industrial space also is increasing from numerous other online retailers. “We had 40 unique e-commerce users last quarter alone with Amazon actually being a small slice of that,” said Dan Letter, Prologis president, on an earnings call earlier this year.

    Prologis has grown both by developing new properties and through acquisitions. Lately, the company has been focusing more on acquisitions because of rising construction costs and challenges in getting development approvals from local governments.

    Prologis’ increasing size has enabled it to invest in a range of environmentally friendly businesses. The company is adding electronic-vehicle charging stations at some of its properties and putting solar energy panels on the sprawling rooftops of its warehouses and distribution centers.

    Industrial property held by industrial property companies saw “solid market rent growth” in the first quarter, according to a May report on the sector by real-estate analytics firm Green Street. But the report noted that demand for industrial property might decline because retailer inventory levels rose during the first quarter and “retailers are expected to adopt a cautious approach toward inventory management for the remainder of the year.”

    Tyler Durden
    Mon, 06/26/2023 – 18:20

  • Woke Hollywood Sinks Into Irrelevance After Multiple Box Office Failures
    Woke Hollywood Sinks Into Irrelevance After Multiple Box Office Failures

    The formula for box office success these days seems rather simple – Produce a solid story with relatable and likable characters, and tell that story in a setting that makes sense with as few distractions and tangents as possible.  In other words, make a normal movie without the intent to manipulate your audience with propaganda.  

    Most movies that follow this basic formula will rake in the cash.  Any movie that insists on browbeating the audience will bomb; get woke, go broke.  The problem is that Hollywood elitists just can’t help themselves.  They think they’re smarter than the audience and smarter than the box office, and they would rather lose their entire business and fade into obscurity than admit the truth:  The market dictates the success or failure of popular media, the media does not dictate the market.  

    To be fair, the media culture we live in today is far different from what it was even 10 years ago.  The entertainment industry is no longer interested in keeping the public happy or distracted, they’re only interested in “platforms.”  They see every movie and every popular franchise as a vehicle to deliver their gospel, the gospel of woke.  It is likely that they believe if they saturate the market long enough and thoroughly enough with their messaging that one day the public will just give up and accept woke as the new normal.

    This isn’t happening.  There’s been a flurry of film flops in the past year which have made it obvious that Hollywood is imploding instead of gaining influence.

    Disney is probably the best place to start as a window into woke failure, because the company strategically targets children with far-left concepts from feminism to gay and trans ideology.  The company was on a downward spiral well before they tried to go to war with the state of Florida, declaring that they would do everything in their power to overturn anti-child grooming laws.  But that little incident didn’t help, either.

    Disney’s slate of failed films over the past year has included:

    • Turning Red, a metaphorical animated film exploring female puberty and menstruation.  The movie lost  $168 million.  

    • Lightyear, which featured a lesbian relationship and was released right after their fight with Florida.  Disney was also accused of removing Tim Allen as the voice actor for the popular Buzz Lightyear character because of his conservative leanings.  The movie lost at least $106 million.

    • Strange World, another animated children’s film featuring thinly veiled climate change propaganda as well as a prominent LGBT relationship involving teen boys.  One of the biggest flops in Disney history with a loss of $197 million.

    • Peter Pan And Wendy, a live action adaptation of the classic, was offloaded quickly to Disney’s streaming service and received dismal audience reviews.  The movie boasted a race swapped Peter Pan, race swapped Tinkerbell,  gender swapped “lost boys,” and a Mary Sue-like Wendy that battles 200 pound pirates with her sword fighting skills.

    • The Little Mermaid, a live action adaptation, race swapped the classic Dutch fairy tale character and changed the message of the story from a mermaid seeking the love of a prince to “she don’t need no man to save her.”  The movie lost at least $20 million.

    • Indiana Jones And The Dial Of Destiny, a film which attempts to undermine and deconstruct its title character and replace him with an anti-capitalist feminist activist, has been met with thumbs down from audiences and critics that have seen it so far, along with general disdain by fans of the franchise.  It is expected to lose hundreds of millions of dollars for Disney due to its massive budget.  

    • Elemental, a ham-fisted commentary about racism with Disney’s first animated “non-binary” character, is crashing at theaters and is expected to lose tens of millions of dollars.  The movie also had the 2nd worst box office debut in Pixar history, a company that was once seen as a sure thing.  

    Disney isn’t the only leftist media company in the gutter these days, it’s merely the most notorious.  Multiple woke movie calamities have struck in the past year from the horrendous ‘Bros,’ to the vapid ‘Fauci’ documentary, to AOC’s climate change documentary which went down in flames, to Amazon’s attempt to hijack Lord of the Rings with their woke ‘Rings Of Power’ series.  The list goes on and on, with production losses in the billions for 2022-2023.           

    What Hollywood doesn’t seem to realize is that audiences have options and nothing is going to force people to consume leftist ideology as a recreational product; they greatly overestimated their influence.  They might as well get rid of the box office altogether and come out of the closet as the defacto propaganda wing for governments and globalists.  Then they can abandon the facade and start making their own woke versions of ‘Triumph Of The Will.’

    In the meantime, it appears that the game is over.  Western consumers are beginning to realize the scale of their boycotting power and they are using it aggressively this year.  And though woke companies are doubling down and insisting that social justice, feminism and trans cultism are the wave of the future, the reality is that (for now) propaganda cannot be made without profits.  The money is running out.

    Tyler Durden
    Mon, 06/26/2023 – 18:00

  • The AMA Labels BMI 'Racist'
    The AMA Labels BMI ‘Racist’

    Authored by Eric Utter via AmericanThinker.com,

    “Delegates at the Annual Meeting of the American Medical Association (AMA) House of Delegates adopted [a] policy aimed at clarifying how body mass index (BMI) can be used as a measure in medicine,” the group announced.

    Apparently, a council within the AMA researched the “problematic history with BMI” and subsequently issued a report detailing a new policy on how BMI should and shouldn’t be applied.

    The report “Outlined the harms and benefits of using BMI” and characterized BMI as “an imperfect way to measure body fat in multiple groups given that it does not account for differences across race/ethnic groups, sexes, genders, and age-span.”

    The report’s findings, of course, support the new policy—and the AMA’s desire to educate physicians “on the issues with BMI and alternative measures for diagnosing obesity.”

    The organization released a statement reading:

    Under the newly adopted policy, the AMA recognizes issues with using BMI as a measurement due to its historical harm, its use for racist exclusion, and because BMI is based primarily on data collected from previous generations of non-Hispanic white populations.

    Due to significant limitations associated with the widespread use of BMI in clinical settings, the AMA suggests that it be used in conjunction with other valid measures of risk such as, but not limited to, measurements of visceral fat, body adiposity index, body composition, relative fat mass, waist circumference and genetic/metabolic factors.

    (Will the AMA soon consider, say, blood pressure guidelines “problematic” or “racist,” too?)

    AMA immediate past President Jack Resneck noted:

    “There are numerous concerns with the way BMI has been used to measure body fat and diagnose obesity, yet some physicians find it to be a helpful measure in certain scenarios.”

    (“Immediate Past President?” What the hell is that? Can we make Joe Biden one?)

    A few medical professionals have previously called BMI “racist” and linked it to “body terrorism.”

    In 2021, for example, University of Louisville medical students were subjected to a seminar on “the impact of body terrorism on fat LGBTQ+ people.”

    “Terrorism” isn’t what it used to be. It is dramatically more inclusive. (Yay!) Today, anyone who entertains any notion– or incontrovertible fact—that in any way deviates from leftist dogma…is branded a “terrorist.”

    As we all know, the use of BMI disproportionately affects the BIPOC and LGBTQIIA+ communities, because, well, everything does.

    Somehow.

    Acid rain, monkeypox, COVID-19, inflation, Lyme Disease, droughts, floods, tornadoes, supply chain issues, painful rectal itch, cedar apple rust, E.D., poor air quality, stock market fluctuations—and every other conceivable (and inconceivable) measurement, standard, affliction, and malady– boldly and doggedly target these communities for no reason other than sheer hatred and bigotry.

    A reasonable and logical conclusion, no?

    Tyler Durden
    Mon, 06/26/2023 – 17:40

  • John Kerry Skewered By French TV Host After Condemning Putin Invasion: "Why Isn't Bush Judged In The Same Way?"
    John Kerry Skewered By French TV Host After Condemning Putin Invasion: “Why Isn’t Bush Judged In The Same Way?”

    John Kerry, who is Biden’s special presidential envoy for climate, came up against rare pushback when he tried to issue the usual invective and talking points on Russia’s invasion of Ukraine and Putin’s aggression while speaking on French television in Paris. 

    But a French TV anchor wasn’t having it, and confronted Kerry over US hypocrisy, given Washington has mounted multiple invasions of sovereign countries in recent decades, especially since the 2003 invasion of Iraq. Well-known French journalist Darius Rochebin during the Sunday night interview on news channel LCI posed the following: “We have to judge Putin for crimes of aggression, of course. But you, the Americans, you committed the crime of aggression in Iraq.” Rochebin then asked Kerry: “These countries of the Global South say, should we judge George Bush? Why isn’t Bush judged in the same way?

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    Kerry simply tried to reject the comparison, without explanation, shooting back “no”. Rochebin quickly interjected, “Why?”

    “Because there’s never even been a direct process or accusation or anything with respect to President Bush himself,” Kerry deflected. “Have there been abuses in the course of that war, yes.”

    Rochebin didn’t let go after this nonsensical attempt to appeal to a legal “process” and mere “abuses” (in a war that killed hundreds of thousands of civilians). The journalist pressed: “Was it not a crime of aggression to enter into Iraq on the basis of a lie?”

    “No, no, no,” Kerry said. “Well, we didn’t know it was a lie at the time. You know the evidence that was produced, people didn’t know that it was a lie. So no, again, I think, you’re stretching something. That’s not a constructive way —”

    “But he lied,” Rochebin said of Bush. “He lied. He lied.”

    A flustered Kerry, who had also served as Secretary of State under the Obama administration, then said, “Sir, I’m not going to re-debate the Iraq war with you here right now. We spent a lot of time doing that previously. I was opposed to going in, I thought it was the wrong thing to do. But we gave the president the power, regrettably, in the Congress, based on the lie. And when we knew it was a lie, people stood up and did the right thing.”

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    Rochebin came back with: “I get that. But you understand that for the countries of the South, of course, justice, equality, principles, it’s their impression that there is a double standard. And that weighs today, including on the debate of the climate,” Rochebin said.

    Journalist Glenn Greenwald later observed of the interview, in which a humiliated Kerry was clearly unprepared to be challenged and called out so directly, “The complete lack of self-awareness on the part of the US establishment sometimes shocks me, despite the contempt I harbor for them.”

    Tyler Durden
    Mon, 06/26/2023 – 17:20

  • Victor Davis Hanson: What The Left Has Left For America
    Victor Davis Hanson: What The Left Has Left For America

    Authored by Victor Davis Hanson via American Greatness,

    The present-day Left bears little resemblance to the old civil-libertarian, integrationist Democratic Party that existed from the 1960s through 2000. 

    The antecedents to its current madness were once previewed in the old party’s extremist wing of campus radicals of the 1960s and 1970s. They were accentuated by Black Lives Matter and Antifa during the Obama years, forged during the COVID lockdown and George Floyd riots, and polished during the era of Trump derangement syndrome. 

    On almost every issue, Democrats have repudiated their prior reverence for the Supreme Court. 

    They distrust individual liberty and free expression.

    They now worship the money and clout of corporate America. 

    Racial ecumenicalism and integration are seen as passé. 

    There is little need for borders to protect vulnerable American workers, given the advantages of inviting in millions of poor illegal immigrants without audits.

    Democrats have transmogrified into a Soviet-style socialist binary of rich and poor, run by an elite nomenklatura that dictates its orders to its foot soldiers of the underclass. An entire new left-wing vocabulary—clingers, deplorables, irredeemables, dregs, chumps, ultra-MAGA, semi-fascists—has come to express their hatred of the middle class. 

    On the Supreme Court 

    The Left has adopted Franklin Roosevelt’s once infamous (but now sanctified) 1937 approach to destroying the autonomy of the Supreme Court by threatening to pack it. 

    Note how any means necessary are justified in their attacks. Swarm the conservative justices’ private homes to leverage future opinions, with the assurance that an ethically bankrupt Justice Department will never enforce existing laws prohibiting such intimidation of the justices. 

    Have the Democrat Senate minority leader scream threats to justices by name at the very doors of the court and at the head of a mob—promising to individual justices a whirlwind to reap and unrecognizable forces that will soon hit them. 

    Wage ad hominem attacks on traditional justices in the media. Allege they are corrupt, on the theory that they are limited in their means of defense and any rebuttal will lack the wherewithal of the original unfounded smears. 

    Talk nonstop about changing the number of the court justices in order to intimidate conservative justices to move leftward. Move left or be packed! 

    Argue for nullifying Supreme Court decisions if they lack legal sanction, given the conservative majority of the Court. 

    Drive down the Court’s approval ratings in polls by nonstop screams that the justices cruelly hurt left-wing constituencies. 

    Claim that the presidency and the Senate, both in leftist hands, are the true voices of the people, rather than ossified edicts of heartless conservative justices. 

    Note the current attack has no principle other than neutering a conservative-leaning court until it can be rebooted left-wing, after which it will return to its former sacrosanct status. 

    Individual Liberty and Free Speech 

    In our Animal Farm left-wing world, free speech is “hate speech” and “individual liberty” is selfish privilege. 

    The ACLU transmogrified into an activist group targeting conservative expression deemed “hateful.” 

    Universities’ “hate speech” codes and “free speech” zones are Orwellian. They are subtexts for ensuring that any prominent conservative speaker should expect to be shouted down, threatened, slandered, and run off campus—sometimes violently—for infringing on the “safety” of the marginalized and vulnerable.  

    Social media, Google searches, and internet access are warped by corporate efforts to alter the flow of information. Once dangerous censorship has become a noble effort to silence “misinformation” and more dangerous “disinformation”—as adjudicated by ignorant 20-somethings at computer screens in Silicon Valley and obsequious 30-somethings in government cartels. 

    Corporate Grandees 

    Corporate America and its financial power are now left-wing approved. 

    CEOs now, in politically correct or woke ways, put their gains (once deemed ill-gotten) to the service of the people. Disney, Target, Anheuser-Busch, the airlines, and sports franchises all “get it.” 

    The Left has co-opted corporate America. So it says to them, “Use your money and clout to fast track our woke agenda, and in return, we will reinvent you, erasing from memory our past slurs of “bloodsucking leeches” and “running-dog capitalists,” and welcoming you into the pantheon of community-minded guardians of our culture. And you will make untold money from our globalized endorsement as never before.” 

    By absorbing the MBA programs at the major universities, the Left ensures that the new corporate credentialed elite has never gotten its hands grubby or stained in the lower echelons of business, or worked its way up the long, grimy corporate ladder. Instead, unpolluted the new execs transition from their MBA courses in diversity, equity, and inclusion, and in environmental, social, and governance to the activist corporate boardroom. 

    Remember, only mega-wealth is good. It is a revolutionary force that can bury wannabe capitalists, whose parochial right-wing millions stand no chance against enlightened left-wing globalized billions. Just ask George Soros, Bill Gates, Mike Bloomberg, and Mark Zuckerberg. 

    From Class to Race and Sex 

    Class no longer matters to the new Left, except as a force multiplier lever if the supposedly marginalized are the nonwhite or nonbinary. 

    Otherwise, the poor of East Palestine, Ohio or the recruits who join the military from upstate New York or rural Texas are to be written off as the most dangerous demographic in America, full of white “rage,” “supremacy,” and “privilege.” 

    Segregation and separatism are noble ideas that perpetuate proper racial distinctions on the necessary pathway to massive transfers of reparatory wealth. Tribalism is a good word now. Superficial appearance alone can be reliable proof of exploitation. 

    “Crime” is a social construct, fabricated by wealthy white men whose manipulation of the economy is reflected in the laws they make to oppress and further victimize.  

    Segregated dorms, graduations, and safe spaces are necessary to fight integrationists and assimilationists who would culturally appropriate or rob the identities of the Other. There is a good racism necessary to fight bad racism, once experts like Ibram X. Kendi can instruct us which is which. Racism is “systemic” like air, but only trained DEI czars can detect it everywhere. 

    Poverty is now to be redefined. White poverty is the deserved fate of the stupid who never caught on to globalization and mindlessly try to convince us that ossified farming, the drudgery of mining, icky construction, the stink of fracking, or the monotony of assembly work remain vital industries. 

    Nonwhite poverty is the fault of the exploitative middle class, which lacks the romance of the distant poor and power and good taste of the rich corporate elite. 

    The Left’s once disliked intelligence and investigatory agencies, the despised Department of Justice, and the loathed Pentagon hierarchy are now deified on the principle that 1) by fiat, they can implement overdue cultural changes by bypassing the messing right-wing roadblocks of an archaic legislature, and 2) their extralegal powers can ferret out counterrevolutionaries and destroy them in a way impossible by others bound by a calcified and counterrevolutionary Constitution. 

    The value of these weaponized bureaucracies is endless. FBI directors can lie if the cause is deemed good, and with impunity under oath. Compliant FISA courts that are willingly deluded by false writs can help to spy on right-wingers. 

    Noble ex-CIA directors can round up “authorities” to issue false manifestos to influence elections. Enlightened attorney generals can overlook corruption and money laundering like that of the Biden family to emasculate any looming political rival. 

    Whistleblowers are neutral characters: deified when useful to the Left, to be despised as quislings when they disclose left-wing crimes. 

    The Border 

    The southern border is a mere construct created by fascists to exclude the Other. 

    Its removal fast tracks a new demography, dependent on leftist largess and eager to reciprocate with loyalty at the polls. 

    The triumphalism of the slogans touting a “New Democratic Majority” and “Demography is Destiny” sanctifies the reality that citizenship is defunct and mere residency has replaced it with all its former rights, but none of its erstwhile responsibilities. 

    Any who object to the cynicism inherent in the new demographic realities are racist adherents to the Great Replacement Theory, who are not wrong in deciphering leftist agendas, but to be damned as enemies of the people for exposing them. 

    How and Why? 

    Finally, how did the Left reinvent itself as a revolutionary Jacobin party and so easily stage its revolution? 

    First, it claimed that there is no Republican Party when in fact there has never been a more viable one that is racially inclusive and representative of the beleaguered middle class. Instead it is to be smeared as “ultra-MAGA” and “semi-fascist” and supposedly as “unrecognizable” as the new Left is demonstrably recognizable as militant socialist. 

    Second, the Left destroys people. 

    Cancel culture, doxxing, deplatforming, and shadow banning are all synonyms for left-wing character destruction, an updated electronic form of Trostkyization and Lavrentiy Beria-style “show me the man and I’ll show you the crime” persecutions. 

    Anyone who strays—a Robert F. Kennedy Jr., a Matt Taibbi, or an Elon Musk—will be targeted by the woke bureaucracies, libeled in the media, and ostracized by the popular culture. 

    The message is one of deterrence: stay properly left and you are accorded the James Comey/Andrew McCabe/James Clapper/John Brennan/Anthony Fauci/Hunter Biden/2020 rioters exemptions from legal accountability for lying under oath, rank profiteering, or abject violent rioting. 

    Swerve improperly rightward, and you will be vaporized by the long arm of the politicized law. 

    A final note. The Left’s only problem is that it has bequeathed a new legacy that has the potential to boomerang should it ever lose power. 

    So what has the Left conferred on America? 

    • Impeachment once, twice, and more still is a good thing. Better still, it is to try a president even as a private citizen. 

    • Special counsels are wonderful—all the more so if they have nearly two years and $40 million to hire a dream team of partisan lawyers. 

    • A good attorney general is a president’s “wingman” who uses the law to go after enemies and exempt friends and families from the law, while using indictments to pave the way for reelection. 

    • Lawfare is a legitimate tool of the president, especially when targeting a rival threat to his reelection. 

    • High office is a path to riches. Selling your name for tens of millions of dollars is not only legitimate, but a necessary perk of the vice presidency and presidency. 

    • The FBI, the Pentagon, the CIA, the Justice Department, and the IRS are underused assets. With the right mindset and willpower, all are vital tools in neutering your political enemies. 

    • The media is utterly corrupt. What it covers and what it omits are entirely political decisions and thus can be warped accordingly by government rewards and punishments. 

    What the Left now fears most is the revolutionary model it has bequeathed to America—and what might happen if its monstrous creation falls into politically incorrect hands.

    Tyler Durden
    Mon, 06/26/2023 – 17:00

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Today’s News 26th June 2023

  • Ban On Encouraging Illegal Immigration Not Unconstitutional: Supreme Court
    Ban On Encouraging Illegal Immigration Not Unconstitutional: Supreme Court

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

    A U.S. law that bars encouraging illegal immigration for advantage or gain is lawful, the Supreme Court ruled on June 23.

    “After concluding that this statute criminalizes immigration advocacy and other protected speech, the Ninth Circuit held it unconstitutionally overbroad under the First Amendment. That was error,” Justice Amy Coney Barrett, a Trump appointee, wrote for the majority.

    Properly interpreted, this provision forbids only the intentional solicitation or facilitation of certain unlawful acts,” she added.

    Associate Justice Amy Coney Barrett stands during a group photo of the justices at the Supreme Court in Washington on April 23, 2021. (Erin Schaff-Pool/Getty Images)

    The law in question prohibits encouraging or inducing illegal immigration for “commercial advantage or private financial gain.”

    The case was brought to the nation’s highest court by the government.

    A man named Helaman Hansen was convicted in 2017 by a jury in California of violating the law as well as committing wire fraud. He was sentenced to 20 years in prison.

    According to evidence disclosed during the trial, Hansen from 2012 to 2016 sold memberships to a “migration program” that falsely promised people they could become U.S. citizens.

    A central feature of the program was the fraudulent claim that immigrant adults could achieve U.S. citizenship by being legally adopted by an American citizen and completing a list of additional tasks,” U.S. prosecutors said previously.

    Not one of the approximately 500 people who paid Hansen as much as $10,000 became a citizen. Federal authorities had told Hansen as early as 2012 that aliens adopted after turning 16 could not obtain citizenship.

    Hansen’s lawyers argued that the law infringes on rights conferred by the U.S. Constitution’s First Amendment so much that it should not apply to anyone.

    A panel of the U.S. Court of Appeals for the Ninth Circuit in 2022, agreed, vacating the convictions for inducement.

    It is clear that subsection (iv) covers a substantial amount of protected speech. Many commonplace statements and actions could be construed as encouraging or inducing an undocumented immigrant to come to or reside in the United States. For example, the plain language of subsection (iv) covers knowingly telling an undocumented immigrant ‘I encourage you to reside in the United States,’” U.S. Circuit Court Judge Ronald Gould, a Clinton appointee, wrote for the majority.

    U.S. Circuit Court Judge Daniel Collins, a Trump appointee, joined in the ruling while U.S. Circuit Court Judge Patrick Bumatay, another Trump appointee, dissented.

    The appeals court refused to rehear the case, resulting in the government asking the Supreme Court to overrule the lower court.

    The appeals court ruling ruled wrongly, authorities said, pointing to how it did not identify a single instance in history when the law has been applied to speech protected by the Constitution. Previous rulings have found that speech “used as an integral part of conduct in violation of a valid criminal statute” is not constitutionally protected.

    A majority of the Supreme Court agreed with the government.

    To the extent that clause (iv) reaches any speech, it stretches no further than speech integral to unlawful conduct,” Barrett wrote.

    She was joined in the 7–2 ruling by Justices John Roberts, Clarence Thomas, Samuel Alito, Elena Kagan, Neil Gorsuch, and Brett Kavanaugh.

    Read more here…

    Tyler Durden
    Sun, 06/25/2023 – 23:30

  • Gloom Grips China Markets As Stimulus Trade Fades
    Gloom Grips China Markets As Stimulus Trade Fades

    By John Cheng, Bloomberg markets live reporter and strategist

    Losses in Chinese assets are mounting again as Beijing’s modest stimulus disheartens investors.

    The Hang Seng China Enterprises Index of Hong Kong-listed Chinese firms slumped more than 6% last week to cap its steepest drop since March. The CSI 300 Index of mainland shares fell 2.5% through Wednesday before markets closed for holidays. The yuan also tumbled to the weakest since November, with analysts bracing for more declines.

    There’s little reason for mainland traders to be optimistic when markets reopen on Monday. China’s travel spending during the dragon boat festival holiday fell short of pre-Covid levels, underscoring the slowdown in consumption. Preliminary estimates from the Passenger Car Association showed over the weekend that passenger vehicle sales for June are expected to drop 5.9% year-on-year.

    Gloom is setting in after authorities refrained from adding major policy support even as the economy has lost momentum. Beijing is making it clear that any easing will be targeted and measured, bidding farewell to the days of massive stimulus that drove leveraged buying and inflated asset prices — a distortion that the nation’s leaders are determined not to repeat.

    “This is an expectation mismatch in my opinion,” said Zhikai Chen, head of Asian and global emerging-market equities at BNP Paribas Asset Management. “It is a very awkward situation where positioning is light, valuation is undemanding yet sentiment is very bearish.”

    To be sure, China has been rolling out measures to stimulate its economy, including a series of reductions in interest rates and extended tax breaks for consumers buying clean cars. Market reactions have been muted as traders are skeptical whether these steps will reinvigorate an economy weighed down by record debt levels, slowing global demand, and weak confidence among businesses and consumers rattled by years of unpredictable policy shifts.

    An analysis by Morgan Stanley’s quantitative team shows active long-only managers have remained net sellers of China’s growth and tech stocks in May and June. Meanwhile, hedge funds have been adding bearish bets as outstanding short positions by the cohort jumped 32% in June, they found.

    “It is telling that the market has been unable to put up a sustained rally year-to-date despite policy easing,” said Eli Lee, head of investment strategy at Bank of Singapore Ltd. “The incremental easing approach taken by policymakers, as they remain determined to curtail the long-term rise of leverage in the economy, may not move the needle.”

    That’s not to say bulls are giving up. Goldman Sachs’ strategists including Kinger Lau said in a June 19 note that a tactical trading window for Chinese stocks is “open once again” given inexpensive valuations. They recommended buying policy-easing beneficiaries, as well as artificial intelligence themes and state-owned companies. The MSCI China Index is trading at 10.1 times forward earnings, below the five-year average of around 12.1.

    “There’s a lot of negativity but I think a lot of it is built into the price already,” Ken Peng, head of Asia Pacific investment strategy at Citi Global Wealth Investments, said in a press briefing last week. “The prospect of better growth in the second half is there, but it’s coming at a much more gradual pace.”

    Tyler Durden
    Sun, 06/25/2023 – 23:06

  • These Cities Offer The Best Work-Life Balance In The World
    These Cities Offer The Best Work-Life Balance In The World

    While some careers can be relatively stress-free, maintaining a healthy work-life balance can seem impossible for many.

    The easy access to technology, blurred boundaries around work and personal time, and fear of job loss push many to work overtime, and fail to use vacation time or sick leave.

    However, in some cities across the world, the situation is very different. In top-ranked locales, companies offer working professionals an opportunity to maintain a work-life balance through good healthcare, ample vacation time, and so on.

    In this graphic, Visual Capitalist’s Freny Fernandes and Bhabna Bannerjee use the Forbes Advisor 2023 ranking to highlight the top cities in the world that encourage work-life balance. The ranking compares data from 128 cities to form the Work-Life Balance Score, which is marked on a scale of 100. The higher the score, the better work–life balance workers in a city have. We’ve covered the top 25 in the graphic below.

    Europe Tops the Chart

    Twenty of the 25 cities with the best work-life balance fall in Europe. The diverse range of cultures and lifestyles in these cities offers its residents a balance between work and personal life.

    The top city on this list, with a work-life balance score of 70.5/100, is Copenhagen, Denmark. The city’s high standard of living, low unemployment rate, 52-week-long parental leave, and focus on sustainability and green spaces all contribute to the city’s top score. It also helps that the Danish lifestyle focuses on taking time for self-care and relaxation.

    Healthy lifestyles along with generous vacation and parental leave policies also placed the European cities of Helsinki, Stockholm, and Oslo in the top five in this list. In fact, the average employee work week in these cities falls below 30 hours. The proportion of remote jobs in Helsinki, Finland is over 50%.

    Many companies in Europe prioritize employee well-being, which has led to the emergence of a wellness culture. This culture includes practices such as remote work and mental health support.

    Balancing Work and Life in Oceania

    Although Europe dominates the top 25 list, some cities in Oceania also boast of healthy work-life balance scores.

    Ranked 5th on the list of cities with the best work-life balance, workers in Auckland, New Zealand, have a 26.3-hour work week on average and a year’s worth of parental leave.

    Meanwhile, the cities of Brisbane (53.3), Melbourne (53.1), and Sydney (51.4) in Australia follow an average work week of 32.4 hours to 38 hours. The sunny weather in these cities also positively influences their scores.

    For Some, Safety is Key

    UAE’s capital city is the only Asian city to make it to this top 25 list, and this is despite its high property prices and relatively low number of vacation days available to workers. On the flip side, the city is safe, sunny, and boasts a high quality of life.

    Tyler Durden
    Sun, 06/25/2023 – 23:00

  • A Catastrophic Implosion… Of The Rule Of Law
    A Catastrophic Implosion… Of The Rule Of Law

    Authored by Roger Kimball via American Greatness,

    Instead of proper rule of law we are living with that Orwellian alternative, Our Rule of Law – an arbitrary enforcement of the laws and use of the coercive power of the state…

    Like some other commentators, I have in recent years several times quoted a famous exchange from Ernest Hemingway’s first novel, The Sun Also RisesRecent developments in the Biden family money laundering scheme, the implosion of a boutique underwater expedition to the Titanic, and a possible coup in Russia prompt me to wheel it out once again.

    “‘How did you go bankrupt?’ Bill asked. ‘Two ways,’ Mike said. ‘Gradually, then suddenly.’”

    It fits the long-running drama over Hunter Biden’s laptop from hell, I think.

    Miranda Devine broke news of that scandal in the New York Post in the run-up to the 2020 presidential election. It languished in the doldrums of official nonrecognition for years as the regime went into overdrive to keep people, especially voters, from paying any attention to it. 

    Gradually, however, the truth leaked out. First, the authenticity of the laptop was acknowledged. Turns out it was not “Russian disinformation,” as those 51 intelligence experts insisted. Nope, it belonged to Hunter all right. At first, the public was titillated by all the sex-drugs-and-rock-n-roll that pervaded that digital trove. Gradually, very gradually, however, the publicly important stuff—the money angle with news of foreign payments apparently to dear-old-dad from various foreigners—began leaking out. 

    Then suddenly, just this last week, the House Ways and Means Committee began dropping bombs.

    Material from an IRS whistleblower—no, two IRS whistleblowers—got fed into the mix and we got such Hunter Biden classics as this WhatsApp message from July 2017 addressed to Henry Zhao, a member of the Chinese Communist Party and, wouldn’t you know it, a business partner of Hunter’s: 

    I am sitting here with my father and we would like to understand why the commitment [the commitment being millions of the crispest] made has not been fulfilled. Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight, And, Z, fi [sic] get a call or text from anyone involved in this other than you, Zhang, or the chairman, I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction. I am sitting here waiting for the call with my father.

    I enjoyed reading that over the morning coffee while gazing at the accompanying photograph of Hunter all got up in black tie for a big to-do at the White House the other day. That was right after he, miraculously, managed to wangle the plea bargain of the century. He failed to report millions in income, yet the prosecutor agreed to reduce felony charges to misdemeanors and, essentially, to forget about the fact that Hunter lied on his application for a firearm, a felony. Nice work, Hunter!

    There are some people who insist that we are still in the he-said she-said phase of this drama. It’s happened before. 

    Remember, years ago, when FBI lovebirds Lisa Page and Peter Strzok had their little back and forth a few days after the Trump-Russia hoax got started? Page cooed to Strzok: “Trump should go f himself.” Strzok responded, “F Trump.” Two days later, Page texted, “[Trump’s] not ever going to become president, right? Right?!” Strzok replied, “No. No he’s not. We’ll stop it.” “We” being not just Peter and Lisa but also the FBI. Somehow, that got diluted and interpreted out of relevance, though, and the fact that the premier police power of the country interfered in a presidential election got swept under the proverbial rug.

    It might happen this time, too. We have credible allegations galore, not only of Hunter’s lawbreaking, but his father’s. According to the whistleblower testimony that the House Ways and Means Committee just released, the Justice Department tipped off Hunter Biden about a plan to search his storage unit, thus allowing him to clean it out before the feds arrived. The Justice Department also declined to execute a search warrant of Joe Biden’s guest house when Hunter was living there. They hid allegations about foreign bribery from the IRS lawyers overseeing an investigation of Hunter’s finances and lost or “slow walked” other aspects of the government’s investigation into his tangled affairs for some five years.

    Preferential treatment? Assuredly not! At least not according to our American Gothic Attorney General Merrick Garland. After this latest spate of revelations dropped into the news cycle and seemed to be getting traction, even in the legacy media, Garland held a press conference in which he said, in essence, if you criticize the Justice Department you are betraying “democracy.” 

    It was an extraordinary performance. But here we are. Nancy Pelosi and others kept going on about Our Democracy™ when what they meant was “our oligarchy.” More recently, Joe Biden has been nattering on about “our children,” as if children belonged to the government. Now we have the attorney general of the United States insisting that the Justice Department dispenses justice impartially even though grandmothers with cancer who happened to traipse through the Capitol on January 6 are tossed into jail while Hunter Biden skates. The two-tier deployment of justice in this country is patent for all to see, but what are you going to believe, your lying eyes or the pronunciamentos of this gray-on-gray bureaucrat from hell? 

    Yes, Nancy Pelosi was happy to substitute Our Democracy™ for democracy plain and simple. Now we have Merrick Garland attempting the same thing with the rule of law. That went out with the advent of predawn raids by the FBI on opponents of the regime. Instead we are living with that Orwellian alternative Our Rule of Law™, which is to say their arbitrary enforcement of the laws and use of the coercive power of the state. 

    The end, as Hemingway’s character observed, came gradually at first. We’ve moved on now to the “suddenly” part. It’s not, I fancy, unlike what happened aboard that swank, if ultimately unseaworthy submersible, the part described in headlines everywhere as a “catastrophic implosion.” Descent by PlayStation was gradual until, suddenly, it wasn’t.

    Tyler Durden
    Sun, 06/25/2023 – 22:30

  • China Back's Argentina's Falklands Claim, Urges End To Hegemonism And "Colonial Thinking"
    China Back’s Argentina’s Falklands Claim, Urges End To Hegemonism And “Colonial Thinking”

    Around the time the senile vegetable reading from the White House teleprompter was calling China’s Xi Jinping a democrat, destroying all the goodwill his Secretary of State did just days earlier during his visit go Beijing – and throwing Blinken under the bus in the processa Chinese ambassador to the United Nations, Geng Shuang, backed Argentina’s claim to the Falkland Islands and called on countries to abandon “colonial thinking”, and warning of its serious implications for the international order.

    The Falkland Islands, also known as the Malvinas, are claimed by Britain and Argentina, which has demanded a return to negotiations over their sovereignty. Photo: Shutterstock

    Geng, China’s deputy permanent representative to the UN, made the comments on Tuesday to a special committee on decolonisation, which adopted a resolution calling on Britain and Argentina to resume negotiations over the islands, also known as the Malvinas.

    “The issue of the Malvinas Islands is a historical legacy of colonialism. Although the colonial era has passed, hegemonism and power politics that are in line with colonial thinking still exist today,” he said, quoted by the SCMP.

    Geng said this way of thinking has a “serious impact” on international relations and order and “seriously damages” the sovereignty, security and development interests of the countries involved.

    “The international community must remain highly vigilant and resolutely resist this,” he said.

    Argentina maintains that the islands – about 600km (370 miles) from its coastline in the South Atlantic – were illegally taken by Britain, which argues that it has territorial claims dating back to 1765.

    The centuries-old dispute flared into a two-month war between the two countries in 1982, after an attempt by Buenos Aires to take the territory prompted Britain to dispatch a naval taskforce to regain the islands. The issue was revived again this past March, when Argentina walked away from a 2016 cooperation agreement – covering issues such as energy, shipping and fishing, but not sovereignty – and demanded a return to negotiations over the islands.

    British foreign secretary James Cleverly said firmly that the islands are British territory, pointing out on Twitter that the islanders “have chosen to remain a self-governing UK overseas territory” similar to what Russia did with residents in Crimea in the Donbass but the western media was less enthused back then.

    A 2013 referendum on the islands resulted in a 99.8 per cent vote to remain British, again – similar to Crimea referendum outcome.

    Argentina’s secretary of Malvinas affairs Guillermo Carmona flagged last year that the South American country intended to “take advantage” of the geopolitical climate – including the war in Ukraine – to bolster international support for its claim. In an interview with Reuters in August, Carmona said the world had “seldom spoken so much about the territorial integrity of countries as it has since Russia invaded Ukraine in February”.

    “This has shown up the double standard of some Western powers such as Britain that apply one criteria in Europe and another in South America,” he said.

    At the UN committee meeting on Tuesday, Geng said Beijing “firmly supported” Argentina’s claim over the disputed territory and advocated for the settlement of disputes through peaceful negotiations.

    “We urge the UK … to avoid measures that may aggravate tension and confrontation, and at the same time actively respond to Argentina’s request to resume dialogue and negotiations,” he said.

    While Geng’s remarks focused on the Falkland Islands, they echoed the Chinese foreign ministry’s long-standing argument that the US and other Western nations are trying to maintain their own dominance when they push back against China’s military presence in the South China Sea.

    The resource-rich waterway is the subject of competing claims by China and a number of countries in the region which have increasingly aired their concerns over Chinese actions and military build-up in the disputed areas. In February, the ministry published a 4,000-word article condemning US hegemony and listing the ways in which Washington has “abused its dominance” politically, militarily and economically.

    Tyler Durden
    Sun, 06/25/2023 – 22:00

  • San Francisco's Homeless
    San Francisco’s Homeless

    Authored by David Parker via The Epoch Times,

    Living on the streets is a crime. A violation of law.

    To force citizens to react, or worse, not react to the plight of their fellow man, and pretend not to notice, ultimately may force everyone to leave. This includes those born and raised in San Francisco, and this author.

    It’s not okay for people to live on the streets. Earlier generations of American homeless had some integrity. Hobos during the Great Depression had the courtesy to live on the outskirts of town. There’s the solution: the outskirts of town. Abandoned housing, abandoned factories, abandoned military bases.

    Build new housing for the homeless? Completely wrong.

    In a market economy, housing is built for those willing to pay. Pre-pandemic, a small unit might have cost $140,000, but today that unit costs $420,000. Out of the question. Build 6,000 units in San Francisco, and immediately an additional 6,000 applicants will show up.

    As a song goes, “If you’re going to San Fran-cis-co, be sure to wear some flowers in your hair.” Flowers or not, no one has the right to walk around dirty and diseased. Young and old will get sick, even die, from touching park benches or picking up something from the sidewalk—which is why, when working with the homeless, mental health workers are instructed to always wear disposable gloves.

    What about the effect on children forced to observe drug addicts with needles stuck in their open-skinned arms?

    Still, beware of collective solutions, what progressives and fascists always offer: “Round ’em up,” or “Give ’em all a home.”

    In San Francisco, it’s Housing First.

    No, the solution must be individual: “Keep moving.” Out of sight, out of mind. Escort them to a shelter on the outskirts. If they come back, escort them again, but this time fence them in.

    Should they get social services? Of course, but it’s too late. People are homeless as the result of a series of bad decisions. Coupled with mental illness and drug addiction, they have problems that are way too complicated. They’re dying. Force them into mental health facilities? Sure, if society agrees and is willing to pay. Think Amsterdam and Vienna.

    What The New York Times prints is a crime. Every edition includes full-page color photographs of slums in Africa, India, or the United States (plus every refugee camp around the globe). Every morning, readers are bombarded, exhausted, with human misery that they can do nothing about. Unacceptable. Stop subscribing to a business, a newspaper, that sells a product to its captive readers by appealing to emotion: “All the News Unfit to Print.”

    Progressivism is a crime. Progressives’ every thought is like The New York Times: a full-page photo of the problems of the world. Their every anxiety is relieved by a government program. Except, Americans aren’t a poor depressed people. A self-selected responsible citizenry, Americans themselves fled slums precisely because they felt a duty to make a better life for themselves and their children. They don’t want to be reminded.

    Progressives should reread “Democracy in America” by Alexis de Tocqueville (1835). Rather than hate, you’ll feel proud of America. De Tocqueville (as interpreted by this author) starts: “America, get rid of slavery; you’re out of your mind; you are about to become the greatest nation on Earth. Sitting in log cabins in the backwoods of Kentucky, reading the newspaper, discussing world affairs, Americans are the most independent and responsible citizens in the world. Nothing like that exists in Europe.”

    Americans know that no one can do for others those things they must do for themselves, like get up in the morning.

    In other words, before 1933, Americans would never have asked the government for a handout—which is why it was so wrong in 1964 for President Lyndon Baines Johnson to declare War on Poverty, that it was unconscionable for a nation as wealthy as the United States to have a poverty rate of 15 percent. Because it’s not something government can cure.

    For 60 years, on average, for all the expenditure, the needle didn’t move. Poverty is still 15 percent. Total cost: $23 trillion, three times the cost of all wars America has ever fought.

    Worse, the war today is paid for by borrowing. Except that today, interest on the federal debt absorbs two thirds of the nation’s tax revenue. After paying the military, there is nothing left for Social Security, Medicare, or the Affordable Care Act.

    In A.D. 476, Rome, Western civilization, fell because there was no money to pay Rome’s military to stop the Huns. All tax revenue serviced interest on the debt. America is not going to fall, but government payments will soon be cut. That is how Greece solved its Eurozone crisis. Social Security payments were cut in half. Half!

    Societies have rules. Progressives feel they don’t have to live by them. Precisely why progressive cities are weak on law enforcement. That is the unconscious attraction to living in a “progressive” city, and it is why civic leaders—Supreme Court Justice Thurgood Marshall, for example—were able to declare, “You do what you think is right and let the law catch up,” his justification for Brown v. Board of Education.

    It’s why progressive cities are magnets for gun-slinging police: Lax law enforcement also means lax monitoring of police departments. Think of Minneapolis, San Francisco, Los Angeles, New York.

    The laxness, which allows people to live on the sidewalks, also allows mugging and robbery. The consequence: Residents are chased away and do not come back. A progressive’s fear of enforcing the law, of passing judgment, is destroying the nation’s cities.

    San Francisco progressives are the perfect example. Rather than eliminating the problem, they think in terms of harm reduction: provide clean needles, supervise dope injections, decriminalize drug use. San Francisco’s Housing First gives life support but doesn’t give people back their lives. Stop it!

    These people are disaffiliated from their family and friends, despiritualized from the family of man (and Earth), isolated, and disconnected. Giving cash to the mentally ill and drug addicted is not sound psychiatry. Give them a home? Yeah, where the buffalo roam.

    Tyler Durden
    Sun, 06/25/2023 – 21:30

  • The Race To Regulate AI
    The Race To Regulate AI

    Last week, Senate Majority Leader Chuck Schumer announced the start of a series of lawmaker briefings on AI, focusing on

    1. the state of AI today,

    2. where AI is headed, and

    3. national security implications.

    Other governments – including the EU and China – are also beginning to craft their own unique approach to AI regulation: which is understandable, after all Goldman recently forecast that up to 300 million jobs – one-fourth of current work tasks – are at risk as more companies adopt AI to boost profit margins, leading to mass layoffs among high-paying workers.

    While regulatory efforts are still nascent and vary across geographies, once implemented, regulation will determine the development trajectory and importantly could mitigate some of the risk from the most disruptive AI use cases; in doing so it could also substantially shrink the potential demand for AI services and adversely impact the upside “use case” which currently is the next market bubble, and is effectively unlimited.

    That said, Morgan Stanley strategist Ariana Salvator writes in a recent note (available to pro subscribers) that there is currently no consensus for how governments around the world should engage with AI “and perhaps most importantly how they should balance  fostering innovation with protecting users’ safety and privacy.” As a result, Morgan Stanley continues to watch this space carefully, “as  incremental newsflow on AI regulation might signal where markets may be ahead of themselves.”

    In that vein, the bank highlights two key things investors need to know when it comes to AI regulation:

    1. The global regulatory path forward is uneven and uncertain. The European Union currently leads the United States in terms of regulatory efforts, as the EU Parliament has approved its draft AI Act, which seeks to sort AI use cases into a risk management framework and apply different levels of government oversight on the basis of risk level. In the US, thus far federal agencies have issued guidelines and pursued individual enforcement actions. Congress remains in learning mode, although a handful of senators have expressed their interest in clamping down on certain areas of the technology, like making sure Section 230 liability protections do not apply. Hence, governments are far away from aligning their regulatory approaches as AI continues to develop across borders.

    2. Government regulation – if implemented as proposed – can possibly mitigate some of the most severe risks associated with AI. MS thinks of government regulation as a filter that effectively screens out some of the most draconian scenarios imagined when it comes to new technology. For example, the EU AI Act as proposed implements a risk-management approach that applies stricter government oversight to certain AI uses cases while simply banning others that fall into the “unacceptable” risk category, like real-time biometric screening or predictive policing systems. As a result, regulation as proposed now could play an important role in determining which of the most disruptive use cases will actually come to fruition vs. those that will be sidelined as governments get involved. Investors, accordingly, should note these limitations when contemplating AI disruption across markets.

    Much more in the Morgan Stanley AI Guidebook available to pro subscribers in the usual place.

    Tyler Durden
    Sun, 06/25/2023 – 21:00

  • BRICS Backlash: Huge Growth In China's Aircraft Industry Is Flying Under The Radar
    BRICS Backlash: Huge Growth In China’s Aircraft Industry Is Flying Under The Radar

    Authored by Mike Shedlock via MishTalk.com,

    Let’s discuss Lyn Alden’s thought provoking Tweets on China’s aircraft industry.

    Under the Radar

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

    Lyn’s Tweet got me thinking about US exports in general. 

    United States Top 10 Exports

    1. [Petroleum Products] Mineral fuels including oil: US$378.6 billion (18.4% of total exports)

    2. Machinery including computers: $229.6 billion (11.1%)

    3. Electrical machinery, equipment: $197.7 billion (9.6%)

    4. Vehicles: $134.9 billion (6.5%)

    5. Aircraft, spacecraft: $102.8 billion (5%)

    6. Optical, technical, medical apparatus: $99.1 billion (4.8%)

    7. Gems, precious metals: $92.5 billion (4.5%)

    8. Pharmaceuticals: $83.5 billion (4%)

    9. Plastics, plastic articles: $83.3 billion (4%)

    10. Organic chemicals: $51.1 billion (2.5%)

    The above list represents 2022, from United States Top 10 Exports

    Biden Policy Impact

    • Biden energy policies would kill #1, and curtail # 9 and #10. 

    • Bidens restrictions on sensitive machinery and chips will reduce #2, #3, #5, and #6 exports to China and Russia.

    China itself seeks to curtail #4 and #5. What remains are gems, precious metals, and pharmaceuticals.

    I am surprised grain exports are not in the top 10. But as Biden has riled China on a number of fronts, it has increasingly turned to Brazil. 

    That’s just a shift though. The US will just export elsewhere, but perhaps it creates some friction losses.

    Airbus widens its lead over Boeing in China 

    Meanwhile, please note Boeing’s China Orders Dry Up on US Tensions in Boost for Airbus

    Boeing missed out on a 40-plane deal in September, following an even bigger hit in July, when China ordered nearly 300 Airbus aircraft worth about $37 billion at sticker prices. The misses reinforce how simmering US-Sino political tensions continue to complicate the dealmaking landscape for Boeing, which is also still waiting for its 737 Max to fly again in China.

    Boeing, which hasn’t signed a major plane deal with China since 2017, took the unusual step of issuing a statement after the July Airbus order was announced. 

    The above article is from October 2022. Here’s an article from April of 2023.

    Airbus Widens its Lead Over Boeing in China With Plans for Second Finishing Line.

    Airbus announced plans Thursday for a second final-assembly line in China, the latest sign that it has a lock on the key aviation market over rival Boeing.

    The announcement came as part of a state visit by French President Emmanuel Macron to China. The signing of the agreement by Airbus CEO Guillaume Faury was witnessed by Chinese President Xi Jinping and by Macron.

    It will add another line to the final-assembly facility that Airbus opened in Tianjin, China, in 2008, which has put the final touches on 600 A320 aircraft to date.

    Airbus (EADSF) operates four assembly sites around the world but it forecasts that China’s air traffic in particular will grow 5.3% annually over the next 20 years, significantly faster than the world average of 3.6%.

    This will lead to a demand for 8,420 passenger and freighter aircraft between now and 2041, representing more than 20% of the world’s total demand for new aircraft, Airbus predicts.

    By 2041, if not much earlier, I side with Lyn Alden on aircraft. 

    However, I don’t expect the BRICs idea will ever amount to much, quickly, if ever.

    What About the BRICs?

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

    Weaponizing the US Dollar

    It’s easy to understand the BRIC backlash. What Does China Do With a Dollar That’s No Longer Risk Free? Buy Gold?

    That’s the question I asked in 2022 and there is still no clear answer. 

    Michael Pettis commented “As you know, the hard part of reducing the US dollar component of your reserves is figuring out what the alternative should be, and with such high and growing reserves (once you include the indirect reserves at the state-owned banks) that is a very difficult question to resolve.

    Talk is cheap and there is plenty of talk. I see it every day on Twitter.

    But Brazil, Russia, India, China and whatever countries have nothing in common. The Yuan does not float, and there is no grounds for any trust in any common currency.

    The idea of a gold-backed yuan is laughable. China has capital controls and imprisons anyone who speaks out against its policies, hardly the foundation of a currency that inspires trust.

    Brazil’s President Calls for End to US Dollar Trade Dominance, So What?

    On April 1, I commented Brazil’s President Calls for End to US Dollar Trade Dominance, So What?

    Dollar Weaponization Expands – FDIC Message to Foreign Depositors Is Don’t Trust the US

    On May 13, I noted Dollar Weaponization Expands – FDIC Message to Foreign Depositors Is Don’t Trust the US

    There is increasing reason to mistrust the dollar. But why anyone should trust a Russia-China sponsored currency.

    There is no trust anywhere. If Russia or China offered a gold backed BRIC would you buy that or would you just buy gold?

    Trade is Not Between Countries

    Importantly, trade is between individuals, not countries. 

    A Brazilian exporter to China needs the Brazilian Real or US dollars not a BRIC. 

    The Brazilian government can call for the end of dollar dominance but so what? What is the incentive for a Brazilian soybean exporter to use a BRIC?

    Weaponing the dollar was a huge mistake. But the path to when and how that matters is unclear. Why trust any fiat currency?

    In Two Years, China More Than Doubles the US on Car Exports, Catches Germany

    Meanwhile, please note In Two Years, China More Than Doubles the US on Car Exports, Catches Germany

    Expect the same for aircraft. It’s only a matter of time.

    *  *  *

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    Tyler Durden
    Sun, 06/25/2023 – 20:30

  • 'Urban Doom Loop' Hits Midwest
    ‘Urban Doom Loop’ Hits Midwest

    The ongoing economic impacts of ‘work from home’ policies implemented during the pandemic aren’t just affecting major coastal cities like San Francisco and New York.

    The General Motors headquarters is seen behind an abandoned house

    Last year, NYU economist Arpit Gupta used the phrase “urban doom loop” to describe a decline of foot traffic in central business districts, which “adversely affects the urban core in a variety of ways,” including lowering municipal revenues, and making it more challenging to provide public goods and services without increasing taxes.

    Now, as Insider‘s Eliza Relman writes, the ‘Urban Doom Loop’ has hit the heartland, as Midwestern states are facing a crisis of their own; struggling to attract workers, residents, and visitors to their downtowns – a problem which predates the Covid-19 pandemic.

    According to economists and urban planners, Midwestern cities need to make major changes in order to boost quality of life in their downtowns, instead of just being a place where people are forced to go to work.

    A person walks past the remains of the Packard Motor Car Company, which ceased production in the late 1950’sPhotograph: Spencer Platt/Getty Images

    “What I really think it comes down to in these places is that there’s nothing special about any of the downtowns in any of these cities that would be attractive to new residents,” said Ball State University economist, Michael Hicks. “The cities just don’t have the fundamental amenities that would attract people.”

    A good way to gauge just how much trouble Midwestern cities are in is to take a look at how many people their downtowns are actually attracting. Standing in the middle of the city square and counting people can be a bit tough though, so researchers at the University of Toronto have been analyzing anonymized cellphone data for the past few years to track the number of people physically present in central business districts each day. The granular, individual-level data provides a fuller picture of downtown vitality — both before and after the pandemic — than other measures such as office vacancy rates and mass-transit ridership. The conclusion the study draws for the heartland is bleak. Five of the bottom 10 cities in the tracker’s most recent data, which measured the period from December 2022 to March 2023, were in the Midwest: St. Louis, Indianapolis, Minneapolis, Cleveland, and Kansas City, Missouri. Nine of the 13 Midwestern cities tracked in the study were in the bottom half of the rankings. -Insider

    Other measures of central business district health are looking dire as well for these cities. Minneapolis Mayor Jacob Frey recently said he expects his city’s downtown workforce will max out at around 75% of its pre-pandemic numbers, while a recent study revealed that 21.2 million square feet of commercial office space is currently sitting vacant.

    Salesforce announced in April that it would be giving up 25% of its office space in the Indianapolis Salesforce Tower, the state’s tallest building.

    In terms of migration, the Midwest has also struggled to attract new residents and hold onto its existing residents – marking a net decline of over 400,000 people between April 2020 and July 2022.

    If these cities fall into the “urban doom loop,’ things could get even worse, as commercial property taxes make up a significant portion of many city budgets. It therefore makes sense that as office vacancies rise, the decreased tax revenue could force lawmakers to curtail city services or make cuts to key programs. This decline in quality of life and services in turn causes people to leave in a ‘self-reinforcing exodus.’

    “The writing on the wall is not great,” said University of Toronto director of the School of Cities, Karen Chapple, who authored the downtown recover study.

    According to Hicks, the Ball State economist, “For the second half of the 20th century, most Midwestern cities really focused on bending over backwards to accommodate businesses,” adding “They bulldozed neighborhoods, they did eminent domain for all kinds of highways to get the products moved from factory to customer more quickly. And they neglected the fundamentals that people have liked about cities for 3,000 years, which is you can meet with people, you can walk to a place to eat, it’s safe.”

    Tyler Durden
    Sun, 06/25/2023 – 20:00

  • TikTok Admits Storing Some US User Data In China: Senators
    TikTok Admits Storing Some US User Data In China: Senators

    Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

    The TikTok app logo is seen in this illustration taken on Aug. 22, 2022. (Dado Ruvic/Reuters)

    TikTok has admitted to storing some U.S. user data on China-based servers, which differs from its CEO’s previous testimony to Congress that “American data stored on American soil.”

    The Chinese video-sharing platform confirmed this in a letter dated June 16 made in response to questions raised by Sens. Richard Blumenthal (D-Conn) and Marsha Blackburn (R-Tenn) to TikTok CEO Shou Zi Chew.

    The senators had accused TikTok of making misleading claims to Congress regarding its storage of U.S. user data, citing a Forbes report that TikTok stored financial information—such as social security numbers and tax IDs—of U.S. content creators on Chinese servers.

    In response, TikTok said that its previous testimony specifically pertained to the protected user data collected within the app and was not related to content creators’ data, which it said falls into two different categories.

    “The Forbes reporter conflated two categories of data, and we stand by the statements made by our company executives to Congress,” it stated. “We are asked about, and our testimony focused on, the protected user data collected in the app—not creator data.

    The company clarified that there are “limited exceptions to the definition of protected data.”

    These exceptions include “public data, business metrics, interoperability data, and certain creator data, if a creator voluntarily signs up for a commercial program to be supported by TikTok in reaching new audiences and monetizing content.”

    “TikTok believes that the Forbes article cited in your letter was referencing certain creator data such as signed contracts and related documents for U.S. creators who enter into a commercial relationship with TikTok—information that is collected outside of the standard app experience,” it stated.

    Regarding the potential sharing of U.S. user data stored in China with the Chinese Communist Party (CCP) regime under China’s National Intelligence Law, TikTok said that it had not been asked by the CCP to provide such data.

    TikTok said it has not been asked for U.S. user data by the Chinese regime, adding that TikTok has not provided such data to the regime, nor would TikTok do so the company said.

    ‘Misleading Public Relations Campaign’

    However, the senators maintained their stance and said that TikTok’s response showed that its executives had repeatedly provided misleading information to Congress regarding the storage of U.S. user data.

    Read more here…

    Tyler Durden
    Sun, 06/25/2023 – 19:30

  • 'Disgusted' New Zealand Surgeons Now Required To Consider Ethnicity Of Patients
    ‘Disgusted’ New Zealand Surgeons Now Required To Consider Ethnicity Of Patients

    Surgeons in Auckland, New Zealand are ‘disgusted’ over a new policy rolled out in February which requires them to address “historical disparities in healthcare access” for Māori and Pacific Island communities, which will be factored into a new ranking system that determines priority for surgical procedures.

    According to leaked documents obtained by the NZ Herald, the new initative, implemented by Te Whatu Ora – Health New Zealand, uses an “Equity Adjustor Score” algorithm to assign priority based on clinical urgency, waitlist duration, geographic location, ethnicity and level of deprivation.

    Patients of Māori and Pasifika backgrounds receive higher rankings, while European New Zealanders and other ethnicities are downranked.

    Several surgeons spoke with the Herald, one of whom said he was “disgusted” by the new system.

    It’s ethically challenging to treat anyone based on race, it’s their medical condition that must establish the urgency of the treatment,” said the surgeon, adding “There’s no place for elitism in medicine and the medical fraternity in this country is disturbed by these developments.”

    A document on the equity adjustor which was leaked to Newstalk ZB shows two Māori patients, both aged 62 and who have been waiting more than a year, ranked above others on the list. A 36-year-old Middle Eastern patient who has been waiting almost two years has a much lower priority ranking.

    An email by Te Whatu Ora business support manager Daniel Hayes in April said: “Hi team, Heads up. This is going to be the new criteria for outsourcing your patients going forward. Just putting this on your radar now so that you can begin to line up patients accordingly. Over 200 days for Māori and Pacific patients. Over 250 days for all other patients.” -NZ Herald

    Health Minister Ayesha Verrall defended the move, pointing to a Government-commissioned, independent review of the health system conducted in 2018, which found that the system produced unequal outcomes, particularly for populations deemed vulnerable.

    Health Minister Dr Ayesha Verrall. Photo / Mark Mitchell

    “The reformed health system seeks to address inequities for Māori and Pacific people who historically have a lower life expectancy and poor health outcomes,” she said.

    Sir Collin Tukuitonga, a leading expert in Pasifika health, echoed Verrall’s comments, saying Māori and Pasifika patients could be moved to the front of the line due to historical inequalities.

    Sir Collin Tukuitonga. Photo / Alex Burton

    “Māori and Pacific people tend to linger on the referral list… and inevitably, I think people will say that there’s also an institutional bias, possibly a racism that doesn’t put them where they need to be in order to get the surgery,” he said, adding “The referral pathways are not that straightforward.

    Tyler Durden
    Sun, 06/25/2023 – 19:00

  • This Period Of De-Globalization Is Temporary: 'Global Money' Is Coming
    This Period Of De-Globalization Is Temporary: ‘Global Money’ Is Coming

    Authored by Kane McGukin via BombThrower.com,

    Where are we headed? It’s hard to say, but there’s one thing for sure. It’s a future that looks a lot different than the past we’ve known.

    This is one of the foundations Ray Dalio discusses from time to time. People and societies tend to get accustomed to how things are. They get carried away with the good and the bad and expect them to continue into infinity which is exactly when we get change. The moment everyone is positioning for the current mood to continue, it switches. He further discusses some of the ramifications of this in his piece paradigm shifts.

    Since roughly the early 1900s we’ve experienced globalization. Slowly bringing people and countries together and connecting them, even amidst the wars and protectionist periods. We globalized people in the early 1900s but after the wars (WWI & II), it was commonplace for people to travel internationally but for business to mainly remain localized. It wasn’t until the 1980s and 90s that businesses really started globalizing; once the digital infrastructure had been built out. For the period in between I can only imagine it felt a bit like de-globalization, much like we hear tossed around today. And in some regards, it’s true. We are seeing people begin to localize again. Lockdowns forced individuals to stay put. Supply chains broke and countries began to reconsider outsourcing everything. They all began to hunker down and bring work back within their borders to create protections and avoid obvious weaknesses.

    However, I believe this period of de-globalization is temporary. It is just so we can add a third leg to the stool, global money.

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

    It’s so we can figure out how to work in a world where people, business, and money are global. It’s a period where we can figure out new rulesets that are needed to run a world with a need for much more liquidity, new financial assets and networks like Bitcoin which all run on the internet. Much like the 1940s I assume consortiums are meeting in secret to rewrite and set new rules. Bretton Woods 2.0 type meetings, where parties on hand define how capital will flow and which countries will be operators of this new world.

    For the first time in history people, business and money will all be truly global in nature. They will move from jurisdiction to jurisdiction with ease. Flow like water with little standing in any of their ways. The signs are there.

    The Battle For the Future

    It’s not just Bitcoin battling banks for power over the financial network. It’s users battling cloud platforms. Pulling out to operate their own nodes and messaging protocols. Subreddits are turning on Reddit. All over broken non-global money. Additionally, many other points of centralization are seemingly breaking down. Both online and offline, in our physical and digital worlds. Why? Because we’ve reached that point.

    Years ago, we were approaching the top. Things were rosy and the perception was the party would continue on. Things could only get better. We were on top of the world and no one could fathom it not getting better. Just as Ray has pointed out, that’s when things change. That’s when paradigm shifts happen. When they are least expected. When the next decade(s) is drastically different than the previous. Diabolically different.

    In retail, it was the rise of handcrafted. A move from the big box retailer to the small family business or non-chain restaurant. And now, almost a decade later, the movement is prevalent everywhere. Devs are creating messaging protocols to give freedoms back to the end user vs. corporate organizations. Nodes are holding files, managing money and data flows. People are taking a stand. Little by little we are seeking control and ownership of the things that are rightfully ours but have been stored and profited off of by unrightful owners; rent seekers.

    A paradigm shift is and has been upon us. One that will feel like de-globalization until this mess around money is solved. And then we’ll move back to globalization which likely will look similar to when commercial planes and ships carried people across oceans in mass. Or, when the internet allowed business plans, agreements and factories to ship products globally.

    It will create a new world. A more connected world. A more global world that offers more opportunities.

    *  *  *

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

    Tyler Durden
    Sun, 06/25/2023 – 18:30

  • CDC Director Concerned About 'Breakthrough' Cases Weeks After COVID Vaccine Rollout: Email
    CDC Director Concerned About ‘Breakthrough’ Cases Weeks After COVID Vaccine Rollout: Email

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

    The director of the U.S. Centers for Disease Control and Prevention (CDC) and several other top officials knew in early 2021 that vaccinated people were becoming infected with COVID-19, according to an email obtained by The Epoch Times.

    Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, in Atlanta, Ga., on May 5, 2023. (Elijah Nouvelage/AFP via Getty Images)

    CDC Director Dr. Rochelle Walensky told colleagues in the Jan. 30, 2021, missive that she had spoken with Dr. Francis Collins that morning “and one of the issues we discussed was that of vaccine breakthroughs.”

    “Breakthrough” refers to vaccinated people becoming infected.

    This is clearly and [sic] important area of study and was specifically called out this week here,” Walensky added, providing a link to an editorial in the Journal of the American Medical Association.

    In the editorial, immunologist John Moore and vaccine inventor Dr. Paul Offit said that there was a “growing threat” of COVID-19 variants emerging that would “escape” the protection bestowed by COVID-19 vaccines, which had been authorized in December 2020.

    Early testing, they noted, found that antibodies conferred by Moderna’s vaccine were less active against one of the new variants that had emerged.

    Moore and Offit called for testing of vaccinated people who were hospitalized with COVID-19, the creation of a national sequencing program to quickly identify new variants, and the development of a repository of samples taken from vaccinated people.

    Walensky said she’d discussed the matter a few weeks prior with Dr. Nancy Messonnier, another top CDC official. “I understand that [redacted],” Walensky wrote to Messonnier and three other CDC employees.

    Should we discuss? What is the best next step forward?” she added.

    Collins, at the time the director of the U.S. National Institutes of Health, was discussing the matter with Dr. Anthony Fauci, one of the chief architects of the U.S. response to the COVID-19 pandemic, according to Walensky.

    The email was included in response to a Freedom of Information Act request. Requests for records from around the same time seeking what top U.S. officials were saying about breakthrough cases, hospitalizations, and deaths are pending.

    Walensky did not respond to a request for comment that also asked for an unredacted version of the email. Collins did not return an inquiry. Fauci could not be reached. The CDC said it was looking into when it first became aware of breakthrough cases.

    An email from Dr. Rochelle Walensky. (The Epoch Times)

    Later Statements

    Walensky a few months after the email went onto MSNBC and claimed that data from the CDC and clinical trials “suggests that vaccinated people do not carry the virus” and “don’t get sick.”

    The CDC has been unable to provide citations supporting the claim. No vaccine is 100 percent effective, experts have told The Epoch Times. There were infections in both the Pfizer and Moderna clinical trials among the vaccinated, though the efficacy of the shots against symptomatic infection from seven days after dose two was estimated to be north of 90 percent. There were also severe cases in the trials among the vaccinated, including some not counted by Pfizer.

    The trials were not designed to measure efficacy against transmission and did not provide evidence of such efficacy, according to the U.S. Food and Drug Administration (FDA).

    “The paper that Walensky discussed with Francis Collins explicitly worried about the possibility of ‘breakthrough’ infections caused by variants. It even addressed a variant circulating outside the U.S. that the authors could not say was causing breakthrough cases in January 2021,” Dr. Jay Bhattacharya, a professor of health policy at Stanford University, told The Epoch Times in an email.

    Given that uncertainty, the CDC director should never have endorsed the idea that the COVID vaccines could be used to stop COVID disease spread without definitive proof that they did—proof that she never had. And she should never have endorsed vaccine mandates for a non-sterilizing vaccine,” he added.

    Fauci and other top officials had, in 2020 before the email, backed harsh measures during the Trump administration to try to curb the spread of COVID-19, including the forced closure of businesses and schools.

    Read more here…

    Tyler Durden
    Sun, 06/25/2023 – 18:00

  • Here's What Officially Caused Deadliest Barn Fire Involving Cattle In Texas History
    Here’s What Officially Caused Deadliest Barn Fire Involving Cattle In Texas History

    Authored by Darlene McCormick Sanchez via The Epoch Times (emphasis ours),

    The official report on the deadliest barn fire involving cattle in Texas history, and in the last decade, has deemed it an accident.

    A massive explosion at the South Fork Dairy in Castro County, Texas, sent billowing black smoke skyward, on April 10, 2023. (Courtesy of Castro County Sheriff’s Office)

    While the 25-page report from the Texas State Fire Marshal said no foul play was involved in the record-setting fire in the state’s panhandle, questions about the cause linger.

    The April 10 blaze at the South Fork Dairy in Demmitt, Texas, killed almost 18,000 dairy cows and critically injured one employee, who later recovered, according to the Castro County Sheriff’s Office.

    South Fork Dairy was one of the largest dairy farms in the country, located about 75 miles northwest of Lubbock.

    Barn fire at the Ely Fischer farm in Lancaster County, Pennsylvania, on Feb. 10, 2022. (Timothy Coover Maytown/East Donegal Township Fire Department Photographer)

    The fire marshal report obtained through an open record request said the cause of the inferno that created a large black plume of smoke high over the Texas prairie was caused by an engine fire in a manure vacuum truck.

    The fire was so hot that metal beams were warped in places. From the structure’s exterior, investigators found dead cattle “three to four deep.”

    The fire was mentioned on “Tucker Carlson Tonight” before Fox News canceled this popular news host. Carlson began reporting on a slate of fires at food processing plants and livestock deaths by fire in 2022 and suggested the events might be connected as part of a conspiracy to damage the nation’s food supply.

    Fires have killed many thousands of chickens and cattle across America, prompting widespread concerns about food security.

    It looks like terrorism,” Carlson said on his show after the massive fire at the South Fork Dairy. “Maybe it is. Maybe it isn’t. But maybe someone should explain how it isn’t.”

    A Mensch vacuum truck outside the South Fork Dairy in Texas is the same as another one that caught and caused the largest barn fire in Texas history, on April 10, 2023. (Courtesy of the Texas State Fire Marshal)

    Not Eco-Terrorism

    Several weeks later, the Texas Fire Marshal’s Office called the dairy blaze accidental. But the official report noted something unusual.

    A second Mensch manure vacuum truck—the same make and model as the one used inside the barn at the time of the fire—had previously burned due to an engine fire.

    The investigation report noted that the second truck was parked outside the east side of the barn near a generator, where it had remained undisturbed since its engine caught fire.

    Local news reports cited a Texas State Fire Marshal’s news release saying that a third vacuum truck fire had occurred at another dairy. The statement gave no further detail.

    The agency’s news release stressed that no foul play was indicated, and the incident was not a “terroristic attack, or any type of event caused to interrupt the milk supply.”

    A farm is leveled by the South Obenchain Fire along Butte Falls Highway in Eagle Point, Oregon, on Sept. 10, 2020. (Adrees Latif/Reuters)

    Yet the vacuum trucks have no history of malfunctioning, according to a written statement from Mensch Manufacturing in Hastings, Michigan, to The Epoch Times.

    No one has identified any issue with the machine, and we are unaware of any issue with the machine that would have caused a fire,” the statement reads. “In our nearly four decades of operation, we have had no claims about defective equipment that led to a fire.”

    Deadliest Barn Fire for Cattle

    The Animal Welfare Institute (AWI), which keeps records of barn fires and farm animal deaths, ranked the South Fork Dairy fire the deadliest for cattle since the agency began tracking barn fires in 2013.

    Livestock deaths from fires have been increasing, a recent AWI study shows. From 2018-2021, 539 fires killed nearly 3 million animals, researchers found.

    Read more here…

    Tyler Durden
    Sun, 06/25/2023 – 17:30

  • Left-Wing Donors Behind ProPublica Funds Attacks On Conservative Supreme Court Justices
    Left-Wing Donors Behind ProPublica Funds Attacks On Conservative Supreme Court Justices

    Authored by Bryan Jung via The Epoch Times (emphasis ours),

    A nonprofit news outlet, ProPublica, which has been launching personal attacks on two conservative U.S. Supreme Court justices, is being funded by the same left-wing organization that has been actively pushing for their removal.

    Supreme Court Justice Clarence Thomas speaks during an event in Washington on Oct. 21, 2021. (Drew Angerer/Getty Images)

    ProPublica has written multiple stories about Supreme Court Justice Clarence Thomas’ alleged ethics violations while receiving donations from the same groups that are actively campaigning for the justice to resign or be removed from the Court, according to tax documents reviewed by the Daily Caller News Foundation on June 20.

    The Sandler Foundation is the left-wing nonprofit accused of pouring millions into multiple groups attacking Thomas’ character, as well as supporting the attacks on his colleague, Justice Samuel Alito, as part of a wider effort to marginalize conservatives on the Supreme Court.

    The organization founded ProPublica in 2007 and has given the outlet $40 million since 2010 to keep it afloat.

    That same organization has been funding dark-money groups, which have been seeking to oust Thomas from the Court for years to replace him with a leftist.

    ProPublica Caught Participating in a Conspiracy to Remove Justice Thomas

    ProPublica has published several investigations over the past few months into Thomas’ relationship with an old friend, the conservative billionaire real estate developer Harlan Crow, which the publication called inappropriate.

    The paper wrote about several expensive trips Thomas took with Crow, the developer’s purchase of the home of the justice’s mother, and paying for the private school tuition of Thomas’ grandnephew.

    The stories have often included quotes from activists belonging to the various groups that took millions from The Sandler Foundation, reported the Daily Caller.

    Several of ProPublica’s top donors were exposed as being major financial supporters of the left-wing groups attacking Thomas, such as those calling for an ethics investigation into his private life, based on the series of articles over his finances.

    The Sandler Foundation was also behind the launch and/or funding of other left-wing groups, like The Center for American Progress, the ACLU, Human Rights Watch, and Sierra Club, according to its website.

    It is no coincidence that several organizations smearing Justice Thomas are funded generously by many of the same donors,” Parker Thayer, an investigator at Capital Research Center, told the Daily Caller.

    “The ‘pop-up’ public pressure campaign, where just a few donors pay dozens of ‘grassroots’ activist groups to give the appearance of broad public support for a particular issue, has long been a favored tactic of the Left’s wealthy special interests,” Thayer added.

    The Sandler Foundation has also given more than $7.5 million to the Campaign Legal Center (CLC) since 2015 and more than $6 million to the American Constitution Society (ACS) since 2010, according to tax forms acquired by The Daily Caller.

    Both organizations have called on Biden’s Justice Department to investigate Thomas for allegedly violating judicial ethics rules, despite not requiring disclosures for most family members, such as great-nephews.

    Other tax forms show that the left-wing nonprofit gave millions of dollars to The New Venture Fund since 2019 and is part of a network of left-wing nonprofits managed by Arabella Advisors, which was founded by Eric Kessler, a former member of the Clinton Global Initiative.

    The Sandler Foundation also gave a $500,000 grant to the New Venture Fund for Demand Justice, a radical group that calls for aggressive tactics against conservative judicial nominees.

    Read more here…

    Tyler Durden
    Sun, 06/25/2023 – 16:30

  • From Merck To Microsoft: These Are The Companies That BlackRock 'Controls' The Most Of
    From Merck To Microsoft: These Are The Companies That BlackRock ‘Controls’ The Most Of

    A week after an employee of the world’s largest asset management company, BlackRock, described how the company attempts to stay out of the media spotlight while buying politicians and profiting off of war (according to undercover footage obtained by the O’Keefe Media Group), we thought it worth a look at just what companies does the 34-year-old company have the most control of.

    As a reminder, in footage secretly recorded by undercover journalists in New York, a BlackRock recruiter named Serge Varlay explains how the investment company is able to “run the world.”

    “They [BlackRock] don’t want to be in the news. They don’t want people to talk about them. They don’t want to be anywhere on the radar,” Varlay said.

    Varlay told a OMG journalist in the footage that BlackRock manages $20 trillion worldwide (it’s actually around $9 trillion). “It’s incomprehensible numbers,” he said.

    You can take this big f***ton of money and buy people, I work for a company called Black Rock… It’s not who is the president it’s who is controlling the wallet of the president.

    You could buy your candidates. First, there is the senators these guys are f***in cheap. Got 10 grand you can buy a senator. I’ll give you 500k right now. It doesn’t matter who wins, they’re in my pocket.”

    – Serge Varlay

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    Given this status, BlackRock’s equity portfolio may provide useful insights to investors. To learn more, Visual Capitalist’s Marcus Lu and Rosey Eason visualized the firm’s top 25 equity holdings as of Q1 2023. At that time, these 25 positions were worth over $1 trillion, and they represented about 30% of BlackRock’s overall equity portfolio.

    Top 25 Data

    The following table shows the data we used to create this infographic. These figures come from BlackRock’s latest 13F filing, which was released on May 12.

    ℹ️ The 13F is a mandatory, quarterly report that is filed by institutional investment managers with over $100 million in AUM.

    Rank Name Sector Value of Holdings (USD billions)
    1 Apple Information Technology $171
    2 Microsoft Information Technology $155
    3 Amazon Consumer Discretionary $63
    4 Nvidia Information Technology $51
    5 Google (Class A) Communications $44
    6 Google (Class C) Communications $38
    7 Tesla Consumer Discretionary $37
    8 UnitedHealth Group Health Care $35
    9 Meta Communications $32
    10 Berkshire Hathaway (Class B) Finance $32
    11 Johnson & Johnson Health Care $31
    12 Exxon Mobil Energy $30
    13 iShares Core S&P 500 ETF ETF $29
    14 Visa Finance $28
    15 JPMorgan Chase & Co Finance $25
    16 Procter & Gamble Co Consumer Staples $24
    17 Mastercard Finance $24
    18 Home Depot Consumer Discretionary $23
    19 Eli Lilly And Co Health Care $23
    20 Merck & Co Health Care $22
    21 AbbVie Health Care $22
    22 Chevron Energy $22
    23 PepsiCo Consumer Staples $20
    24 Coca-Cola Co Consumer Staples $19
    25 Broadcom Information Technology $19

    As expected, BlackRock’s top equity holdings include America’s most established tech companies: AppleMicrosoftAmazon, and Google.

    BlackRock also has large positions in Nvidia and Broadcom, which happen to be America’s two largest semiconductor companies. Given Nvidia’s incredible YTD performance (198% as of June 19th), this position has likely grown even bigger.

    Altogether, tech stocks make up 39% of this top 25 list. The next biggest sector would be healthcare, at 13% of the total value.

    Ownership Stakes

    How much of a controlling stake does BlackRock have in these companies? We answer this question in the following table, which again uses Q1 2023 data.

    Name % Ownership Quarter 1st Owned
    Merck & Co 8.24% Q3 2007
    UnitedHealth Group 8.02% Q4 2008
    Berkshire Hathaway (Class B) 7.98% Q3 2007
    PepsiCo 7.96% Q3 2007
    AbbVie 7.86% Q1 2013
    Home Depot 7.60% Q3 2007
    Nvidia 7.44% Q3 2007
    Microsoft 7.22% Q3 2007
    Coca-Cola Co 7.20% Q3 2007
    Broadcom 7.16% Q3 2009
    Google (Class A) 7.09% Q3 2007
    Chevron 7.02% Q3 2007
    Eli Lilly And Co 6.90% Q3 2007
    Mastercard 6.89% Q3 2007
    Procter & Gamble Co 6.86% Q3 2007
    Exxon Mobil 6.83% Q3 2007
    JPMorgan Chase & Co 6.59% Q3 2007
    Visa 6.55% Q2 2008
    Apple 6.54% Q3 2007
    Johnson & Johnson 6.46% Q3 2007
    Google (Class C) 6.13% Q2 2014
    Amazon 5.93% Q4 2008
    Tesla 5.70% Q3 2010
    Meta 5.69% Q2 2012

    When it comes to shareholder voting, BlackRock has historically voted on behalf of its clients to “advance their long-term economic interests.” Given its massive size, some people believe that BlackRock has too much influence on major corporations.

    In 2021, it was reported that BlackRock would begin allowing some institutional clients to cast their own votes at shareholder meetings.

    Tyler Durden
    Sun, 06/25/2023 – 16:00

  • Turley: Who Is Lying – Merrick Garland Or The Whistleblowers?
    Turley: Who Is Lying – Merrick Garland Or The Whistleblowers?

    Authored by Jonathan Turley, op-ed via The Hill,

    “I’m not the deciding official.”

    Those five words, allegedly from Delaware U.S. Attorney David Weiss, shocked IRS and FBI investigators in a meeting on October 22, 2022. This is because, in refusing to appoint a special counsel, Attorney Garland Merrick Garland had repeatedly assured the public and Congress that Weiss had total authority over his investigation.

    IRS supervisory agent Gary A. Shapley Jr. told Congress he was so dismayed by Weiss’s statement and other admissions that he memorialized them in a communication to other team members.

    Shapley and another whistleblower detail what they describe as a pattern of interference with their investigation of Hunter Biden, including the denial of searches, lines of questioning, and even attempted indictments. 

    The only thing abundantly clear is that someone is lying. Either these whistleblowers are lying to Congress, or these Justice Department officials (including Garland) are lying. 

    The response from both Hunter Biden’s counsel and the attorney general himself only deepened the concerns.

    Christopher Clark, an attorney for Hunter Biden, responded to a shocking Whatsapp message that the president’s son had allegedly sent to a Chinese official with foreign intelligence contacts who was funneling millions to him.

    “I am sitting here with my father,” the younger Biden wrote, “and we would like to understand why the commitment made has not been fulfilled. Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight. And, Z, if I get a call or text from anyone involved in this other than you, Zhang, or the chairman, I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction. I am sitting here waiting for the call with my father.”

    President Biden has repeatedly told the public that he had no knowledge or involvement in his son’s dealings. He maintained the denial despite audiotapes of him referring to business dealings, photos and meetings with his son’s business associates, as well as an eyewitness account of an in-person meeting.

    Clark did not deny that the above-quoted message had been sent. He only said that it was “illegal” to release the text (he did not explain why) and then added that “[a]ny verifiable words or actions of my client in the midst of a horrible addiction are solely his own and have no connection to anyone in his family.”

    Most of us expected a simple denial. Yet, after five years, Hunter has never even denied that the laptop was his. His team has continued with the same non-denial denials.

    The transcript also details how investigators wanted to confirm the authenticity of the Whatsapp message through the company. The Justice Department reportedly shut down that effort.

    If Hunter Biden was evasive, Garland was irate. He denounced the allegations as “an attack on an institution that is essential to American democracy, and essential to the safety of the American people.”

    The statement bordered on delusion. Polls show that a majority of the public now views the Justice Department as politically compromised and even engaged in election interference. The level of trust in the department under Garland is now lower than it was under his predecessor, Bill Barr

    These questions are not an attack on the institution, but on what some are doing with it. Garland’s reaction is akin to doctors responding to malpractice lawsuits as attacks on medicine itself.

    As in the past, Garland continued to insist that the public must trust him and his department, because “You’ve all heard me say many times that we make our cases based on the facts and the law.”  Once again, he reminded citizens that “these are not just words. These are what we live by.” 

    For those us who once supported Garland’s nomination as Attorney General, it was another maddening moment. Garland has done little to change the view of his department or to address  the political bias that has plagued it and the FBI for years. That record has resulted in blistering reports from the Inspector General and most recently Special Counsel John Durham. 

    Garland does have a motto. Yet, as these allegations pile up it is becoming more and more of a meaningless mantra.

    The attorney general has a growing problem. For years, many of us have criticized him for his inexplicable refusal to appoint a Special Counsel on the Biden influence peddling scandal. Indeed, I have written over a dozen columns on why such an appointment seemed unavoidable, given the references to the president under various code names as a possible recipient of money and other benefits from foreign deals.

    Even after a respected FBI source detailed allegations of a bribery scheme involving Ukrainian figures, Garland still refused to make the appointment. Such an appointment would not only expose Joe Biden to high-risk interviews, but would also allow the Special Counsel to issue a report on influence peddling by his family.

    Garland was willing to appoint a Special Counsel to look into classified records found in Biden’s various offices, yet he continues to bar an appointment on major corruption allegations implicating the president.

    It was impossible to investigate these matters without tripping over the president and other family members. The whistleblowers detailed repeated occasions in which they were told to back off.

    Even the narrow tax issues addressed in Hunter’s recent plea bargain relate to those broader issues, given the source of these funds. Influence peddling may be lawful, but it is also corrupt. Indeed, it is the favorite form of corruption in Washington and a virtual family legacy of the Bidens. 

    It is the concealment of the corruption that often results in crimes, from false statements to tax evasion to unlawful financial transactions to unlawful work as an unregistered foreign agent.

    The whistleblowers allege that the Justice Department consistently cut them off in seeking searches or answers related to President Biden. However, the line that stood out the most was this: “U.S. Attorney Weiss stated that he subsequently asked for special counsel authority from Main DOJ at that time and was denied that authority.”

    If true, that means that Garland was not just hearing from experts and members of Congress calling for an appointment, but that Weiss himself also saw the need for such an appointment. Moreover, the report indicates that others in the investigation believed that there was a need to create such separation from the Justice Department in light of what they viewed as the special treatment given the president’s son.

    These accounts could explain why the Justice Department took five years to secure a guilty plea to two misdemeanors that could have been established in the first month of the investigation.

    It would explain why there is no evidence of serious investigation into the influence peddling or a charge under FARA.

    It would explain why Hunter’s lawyer cannot recall ever being asked about the laptop.

    It would explain why the problem is not the Justice Department’s motto, but the man who is tasked with fulfilling it.

    Tyler Durden
    Sun, 06/25/2023 – 15:30

  • US Intelligence Knew Of Wagner Plot Days In Advance, Briefed Congress
    US Intelligence Knew Of Wagner Plot Days In Advance, Briefed Congress

    US intelligence officials knew well in advance that Wagner head Yevgeny Prigozhin was planning to mount an armed rebellion against the Russian military’s top commanders.

    Congressional leaders were even briefed days prior to Saturday’s events, after US intelligence reportedly observed the mercenary firm mustering forces and amassing weapons in preparation for possibly making a move against the defense ministry. 

    Wagner members standing guard outside military HQ in Rostov-on-Don Saturday, via AP.

    Describing the Congressional briefings, The New York Times reported late Saturday that “U.S. spy agencies had indications days earlier that Mr. Prigozhin was planning something and worked to refine that material into a finished assessment, officials said.”

    “The information shows that the United States was aware of impending events in Russia, similar to how intelligence agencies had warned in late 2021 that Vladimir V. Putin was planning to invade Ukraine.”

    But unlike in the case of those prior invasion warnings of February 2022, the US administration stayed silent ahead of the dramatic Wagner events, likely hoping that it would create destabilization in the Russian state, and negatively impact military operations in Ukraine. So far, there’s been little evidence to suggest the whole short-lived mutiny by Wagner led to significant Ukrainian gains along the frontlines.

    The Times explains the rationale of its intel sources as follows

    U.S. officials felt that if they said anything, Mr. Putin could accuse them of orchestrating a coup. And they clearly had little interest in helping Mr. Putin avoid a major, embarrassing fracturing of his support.

    While it is not clear exactly when the United States first learned of the plot, intelligence officials conducted briefings on Wednesday with administration and defense officials. On Thursday, as additional confirmation of the plot came in, intelligence officials informed a narrow group of congressional leaders, according to officials familiar with the briefings who spoke on condition of anonymity because they were not authorized to speak publicly.

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    While over the past months Prigozhin has made his personal hatred for Defense Minister Sergei Shoigu and top general Valery Gerasimov well known, the intelligence that Washington supposedly had seems very specific and appears to have accurately predicted events, a mere few days before they unfolded.

    While the Kremlin has thus far refrained from blaming the tumultuous events on US or NATO countries, it has indirectly hinted and warned that the West could exploit the situation.

    “The attempted armed mutiny in our country has aroused strong disapproval in Russian society, which firmly supports President Vladimir Putin,” a Foreign Ministry statement said Saturday. “We warn the Western countries against the slightest attempts to use the internal situation in Russia for achieving their Russophobic aims. Such attempts are futile and evoke no support either in Russia or among soberly-minded political forces abroad.”

    But soon after, Secretary of State Blinken did just that, in Sunday news shows pushing the talking point that the Wagner mutiny exposed “real cracks” in Putin’s government:

    Secretary of State Antony Blinken on Sunday said the short-lived rebellion from Wagner Group head Yevgeny Prigozhin “shows real cracks” within Russia as it wages its war on Ukraine. 

    “Prigozhin himself, in this entire incident, has raised profound questions about the very premises for Russian aggression against Ukraine in the first place, saying that Ukraine or NATO did not pose a threat to Russia, which is part of Putin’s narrative. And it was a direct challenge to Putin’s authority. So this raises profound questions. It shows real cracks,” Blinken said on CBS News’s “Face the Nation,” referring to Russian President Vladimir Putin.

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    A beefed up military presence in major cities and in the south of Russia has remained throughout the weekend. Moscow’s iconic Red Square has stayed closed throughout Sunday, with extra security measures still in place. 

    Sky News and others have meanwhile commented on Putin not being willing to forgive “betrayal”:

    Dmitry Kiselyov, in his Russian state TV programme, has claimed the swift resolution of the Wagner Group’s mutiny shows Russia is a united nation. Part of his show has been tweeted by Francis Scarr from BBC Monitoring. Mr Kiselyov also played an archive clip of Vladimir Putin saying he is able to forgive many things, but not “betrayal”.

    There is considerable speculation about how Mr Putin will react to the mutiny. US Secretary of State Antony Blinken has said it could take weeks or months to play out.

    On Saturday in Putin’s televised remarks to the nation which addressed the crisis as it was unfolding, the Russian president called the mutineers’ actions “a knife in the back of our people.”

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    Meanwhile, with Prigozhin headed into ‘exile’ in neighboring Belarus as part of the Lukashenko-mediated ceasefire deal, speculation still abounds over the confusing situation, and several dominant theories have emerged.

    What’s clear is that President Putin took the matter very seriously. “Russian President Vladimir Putin said that he keeps the situation of the special operation under control around the clock,” a statement in TASS said. The president “has been staying up quite late lately,” the statement said.

    Tyler Durden
    Sun, 06/25/2023 – 15:00

  • MSM Betrays Biden Regime, Savages Spox's Over Corruption Bombshells
    MSM Betrays Biden Regime, Savages Spox’s Over Corruption Bombshells

    With revelations that Joe Biden’s DOJ buried evidence of son Hunter tax crimes, and that Hunter demanded a CCP-linked associate wire funds while he was “sitting here with my father,” things have started looking very bad for the Bidens, very quickly.

    With the exception of the NY Times‘ Nicholas Kristof, who unhinged his jaw to pen a full-throated defense of ‘poor drug-addict Hunter’ (who’s totally not an international FARA-violating bag-man for his family’s influence-peddling operation, allegedly), mainstream journalists went to town on both White House spox Karine Jean-Pierre and Pentagon spox John Kirby during Friday’s press briefing.

    First, Kirby refused to answer questions before storming away from the podium.

    I’m not going to comment further on this,” said Kirby, after he was asked if a WhatsApp message from Hunter which appears to demand payment from a Chinese businessman contradicted Joe Biden’s earlier claims that he and Hunter never discussed Hunter’s business dealings.

    https://platform.twitter.com/widgets.jsAfter Kirby ducked out, Jean-Pierre attempted damage control, only to be bombarded with repeat questions.

    “I’m just not going to get into family discussion,” she said, when asked why Hunter attended a White House state dinner with Indian officials and AG Merrick Garland on Thursday night.

    The press doubled down, with one reporter asking; “Kirby wouldn’t answer James’ question. Are you going to answer the question? It’s not an unreasonable question to ask if the president was involved, as this message seems to suggest, in some sort of coercive conversation for a business dealing by his son. If he wasn’t, maybe you should tell us?”

    To which KJP repeatedly deflected, getting defensive at one point.

    “It’s not up to you how I answer the question,” she snarked at one dissatisfied journalist.

    Et tu NBC and CNN?

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    More via the Daily Wire;

    Chairman Smith released whistleblower testimonies on Thursday from IRS agents who allege that the Justice Department has interfered in the investigation into Hunter and is suppressing evidence of the first son’s misdeeds. In part of the testimony from IRS Criminal Supervisory Special Agent Gary Shapley, the IRS agent claimed that investigators uncovered a July 30, 2017, WhatsApp message that Hunter sent to Henry Zhao, CEO of Harvest Fund Management.

    I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled. Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight,” Hunter wrote to Zhao, according to Shapley’s testimony.

    Hunter’s attorney did not deny the authenticity of the WhatsApp message in a statement to Fox News, though he did suggest that it was misleading or could be fake.

    “Biased and politically-motivated, selective leaks have plagued this matter for years. They are not only irresponsible, they are illegal. A close examination of the document released publicly yesterday by a very biased individual raises serious questions over whether it is what he claims it to be. It is dangerously misleading to make any conclusions or inferences based on this document,” said Hunter’s attorney, Chris Clark. “The DOJ investigation covered a period which was a time of turmoil and addiction for my client.

    “Any verifiable words or actions of my client in the midst of a horrible addiction are solely his own and have no connection to anyone in his family,” Clark added.

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    Tyler Durden
    Sun, 06/25/2023 – 14:44

Digest powered by RSS Digest

Today’s News 25th June 2023

  • A Century Of Impotency: Conservative Failure And The Administrative State
    A Century Of Impotency: Conservative Failure And The Administrative State

    Authored by Theo Wold via American Greatness,

    Conservatives have failed to restrain the administrative state because they have accepted that it is a necessary governmental innovation required by the complexity of modern society…

    James Landis is widely credited with crafting the theoretical architecture supporting President Roosevelt’s radical reconstruction—and expansion—of the federal government. Landis shrewdly both established and legitimized the regulatory state, including Roosevelt’s creation of new federal administrative agencies, by offering the regulatory state as the solution to the problem of modern governance: the administrative state “is, in essence, our generation’s answer to the inadequacy of the judicial and legislative process.” The Landis premise took concrete shape through Roosevelt’s expansion of the regulatory state, and in doing so, it brought to fruition Woodrow Wilson’s progressive intellectual project: rule by experts, insulated from the popular will

    Landis believed the “the administrative process” for which he advocated would “spring from the inadequacy of a simply tripartite form of government to deal with modern problems” because modern problems were simply too large and complex to be entrusted to the system based on the separation of powers instituted by our nation’s founders. Landis framed this innovation as consistent with separation of powers principles because he believed the separation of powers called both for separation but also coordination among the branches, and he saw the administrative state as essential to creating that coordination:

    If the doctrine of separation of power implies division, it also implies balance, and balance calls for equality. The creation of administrative power may be the means for the preservation of that balance, so that paradoxically enough, though it may seem in theoretic violation of the doctrine of the separation of powers, it may in matter of fact be the means for the preservation of the content of that doctrine.

    What the tripartite branches could not coordinate among themselves directly, Landis believed administrative agencies could coordinate as a substitute. Landis then aimed to create administrative agencies that themselves combined the three aspects of government. Years later, the Administrative Procedure Act codified this three-branches-in-one-agency approach to administrative power, defining not only rulemaking authority for federal agencies (a quasi-legislative power), but also adjudicative authority (a quasi-judicial power).

    In reality, Landis’s three-branches-in-one-agency theory never comported with the separation of powers principles that the founders embedded in our Constitution. But even if it could have been reconciled with those principles as a theoretical matter, the past 100 years have demonstrated that the administrative state is the single biggest threat that faces the Constitution and the republic it establishes. What began as a type of separation-of-powers “innovation” beyond the Constitution has persisted as nothing less than tyranny. The vast majority of our governance today is created, maintained, and enforced by unelected bureaucrats who are almost entirely insulated from accountability to any branch of government, let alone the people.

    This reality was never on fuller display than during the Trump Administration, as I witnessed firsthand. From President Trump’s inauguration forward, the recalcitrant federal bureaucracy slow- walked his policies, including policy promises that were central to his victorious 2016 campaign (and that therefore commanded significant support from the American people). The Army Corps of Engineers dragged its feet in finalizing plans for the construction of a border wall. The Department of Education refused to withdraw Obama-era memoranda on Title IV and disparate impact. Bureaucrats at the Department of State ultimately blocked efforts to require “extreme vetting” for foreign nationals entering the United States. The idea that the federal bureaucracy is accountable to the president is a mirage.

    And yet, for decades now, conservatives have failed to mount any fundamental challenge to the central Landis claim undergirding the administrative state: the inadequacy of the self-governing tripartite branches. There lies the problem for conservative reforms of the administrative state as they have been proposed for the last 40 years. Landis believed the complexity of modern problems demanded the administrative state as a solution, and by and large, even conservatives have agreed.

    In fact, when conservatives have dared to oppose the administrative state, they have framed their opposition through an economic lens: the administrative state is a vehicle for regulation and government control of the market. As such, conservatives’ tools for combatting it have focused almost exclusively on curtailing the authority of the administrative state to promulgate new regulations and affixing costs to its enactments. In this view, the administrative state as seen through green eyeshades is a problem only because it is profligate and burdens the marketplace, not because “coordination” may now work in conflict with the policy preferences and reanimated desires for political control of a free people. The tyranny of the administrative state is not merely an economic tyranny: it is a tyranny over all purposes of government, a capturing of the people’s power over all political questions, not merely pocketbook questions.

    Perhaps it has been easy for conservatives to adopt the Landis premise because before FDR’s remaking of the federal government, conservatives were already committed to the idea that some modern problems were so complex they could not be resolved through the basic instruments of self-governance and instead required the intervention of experts.

    When Landis was previewing his ideas publicly prior to working in the executive branch, President Herbert Hoover signed the Reconstruction Finance Corporation Act, creating a new, government-sponsored financial institution that would fit right in with the “independent agencies” of today. The Reconstruction Finance Corporation was a quasi-public corporation that borrowed its funds over its lifetime almost entirely from the federal government for the purpose of lending directly to banks and other financial institutions. The RFC was composed of professionals hired outside the civil service system, and the federal government appointed its executive officers and board of directors. 

    Even the leading conservative of the time, Senator Robert Taft of Ohio, favored the RFC and would later back New Deal agency programs, including subsidized loans for farmers and homeowners and accelerated public works spending. In retrospect, the RFC was a template for the New Deal federal agencies FDR later created, including the Tennessee Valley Authority, a quasi-governmental corporation, the Works Progress Administration, the Federal Communications Commission, the Federal Housing Administration, and the Securities and Exchange Commission. More importantly, it was a harbinger of decades of conservative capitulation: In creating the RFC, conservatives like Taft had essentially adopted the Progressive view that modern problems required credentialed experts and technocratic governance. As Taft would posit, laissez-faire individualism was a political-philosophical perspective that required mediation from governmental authorities.

    The solution to the administrative state, however, depends on resisting the Landis premise and accepting instead that even modern problems can be solved without administrative agencies, or that the price of solving those problems is too high if administrative agencies are the only means of doing so.

    Four Past Attempts to Restrain the Administrative State

    The Administrative Procedure Act of 1946

    The Administrative Procedure Act might be considered the first attempt at restraining the administrative state. Passed in 1946, the APA followed FDR’s Second New Deal by about a decade and came at a time of concern in the United States for the rapid rise of the administrative state. Conservatives publicly worried that its growth impaired individual liberties (by allowing federal agencies to impose regulations that burdened individuals’ freedom to work and contract, even without explicit authorization from Congress) and the free market (by allowing federal agencies to establish burdensome regulations or effectively pick “winners” and “losers” and interfere with otherwise-free markets). Liberals advocated for the administrative state based on the Landis premise—namely, that unelected experts were needed to create policies and regulations capable of meeting the demands of “modern society.”

    The APA attempted to assuage concerns about the administrative state’s power by grafting onto the administrative state the same types of due process protections that applied to other branches of government. It created formal and informal rulemaking processes to regularize the administrative state’s quasi-legislative activities, and it created formal and informal adjudicative processes to regularize the administrative state’s quasi-judicial activities. It also specified conditions for review of agency action by the judicial branch.

    But although the APA was seen at the time as a bipartisan compromise, it was in retrospect a compromise that leaned heavily leftward because it endorsed—and even advanced—the Landis premise. The essential compromise of the APA was biased in favor of a large administrative state: the administrative state was a necessary governmental innovation demanded by the complexity of modern society, and the only restraints Congress could place on its activities were marginal procedural protections intended to mimic the due process protections that applied to the constitutional branches of government. These protections increased public participation in rulemaking by requiring pre-rulemaking notice to and comment from the public, and they increased regularity in agency decision-making by standardizing agency processes. But they did little, if anything, to curtail the reach of federal agency power or to protect the primacy of the constitutional branches of government as set against the unelected and essentially insulated activities of the administrative state.

    Chevron Deference 

    Many prominent conservative jurists, including Justice Antonin Scalia and D.C. Circuit Judge Kenneth Starr, spent a generation advocating for Chevron deference, which was intended to prevent liberal courts from imposing their policy preferences on the executive branch by preserving a deferentially drawn sphere of decision-making in which executive agencies were free to operate. But in protecting this deferential sphere of decision-making power, Chevron deference has ultimately proved to be incapable of checking the administrative state’s power and growth. 

    Chevron deference originated with the 1984 decision Chevron U.S.A. v. Natural Resources Defense Council, which created a two-part test for judicial review of the agency’s construction of a statute passed by Congress. First, a court must determine “whether Congress has directly spoken to the precise question at issue”; and if it has, and “the intent of Congress is clear, that is the end of the matter,” for both the court and the agency “must give effect to the unambiguously expressed intent of Congress.” Second, “if the statute is silent or ambiguous with respect to the specific issue, the question for the court is whether the agency’s answer is based on a permissible construction of the statute”; if it is, it is entitled to the court’s deference.

    Chevron itself embraced the Landis premise that difficult policy questions required experts to resolve. It posited that where a statute is ambiguous, Congress might have “consciously desired . . . that those with great expertise and charged with responsibility for administering the provision would be in a better position to do so” than Congress. But even if Congress had not so determined, the opinion advocated deference to experts: “Judges are not experts in the field, and are not part of either political branch of the Government,” so it should not be for judges to resolve complex policy issues. The Chevron Court assured itself that the deference it instituted presented no separation-of-powers problem because “while agencies are not directly accountable to the people, the Chief Executive is, and it is entirely appropriate for this political branch of the Government to make such policy choice.” Today, such an argument is untenable, in light of the entrenched nature of the administrative state and the little (or, more often, utter lack) of executive control over its machinations.

    Chevron deference is a legal doctrine incompatible with substantial self-governance because it translates statutory ambiguity into complete deference to the least accountable arm of modern government—the administrative state.

    While conservative jurists today are more skeptical of the doctrine (and, indeed, may even be willing to replace it), the conservative jurists of yesterday embraced it. None other than Justice Scalia himself argued for a relatively expansive definition of Chevron deference. In discussing Chevron’s “step one,” Justice Scalia explained that “congressional intent must be regarded as ‘ambiguous’ not just when no interpretation is even marginally better than any other, but rather when two or more reasonable, though not necessarily equally valid, interpretations exist.” In other words, Chevron requires courts to defer to federal agencies even when those agencies adopt clearly inferior interpretations of the statutory text passed and signed by the politically accountable branches. It is no wonder, then, that the doctrine of Chevron deference has done little to check the power and proliferation of the administrative state.

    REINS Act 

    More recently, conservative legislators in Congress have introduced and advocated for the REINS Act (Regulations from the Executive in Need of Scrutiny Act). Senator Rand Paul (R-Ky.) first introduced the REINS Act in 2013. The act creates categories of “major” and “nonmajor” rules and requires congressional approval by both houses of Congress before “major” rules can take effect.

    The REINS Act, however, begins from the Landis premise as well—namely, that the authority to craft policy properly belongs to experts in the federal agencies. Rather than remove that power from agencies or shift lawmaking authority back to Congress in the first instance, the REINS Act leaves regulatory power with federal agencies in the very same size and scope in which it exists today and merely imposes a requirement of congressional approval on some regulatory actions. But even the definition of which regulatory actions require such approval is both ambiguous and inadequate. The REINS Act defines a “major rule” to be a rule with “an annual effect on the economy of $100 million or more,” or one that causes “major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions,” or one that has “significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets.” These definitions are unsatisfactory as a drafting exercise, since they are open to interpretation and admit of ambiguities. Who will determine which rules satisfy these definitions? Who knows?

    Worse, these definitions are completely inadequate because they emphasize economic impact alone, as if the administrative state poses only pocketbook harms. Edicts from the Department of Education about the treatment of trans students in the classroom; Department of Commerce regulations about the classification (and therefore, legal availability) of certain firearms and accessories; Department of Defense allowances for same-sex spouse benefits or sex-change surgeries—all of these are culturally transformative regulations that fall short of the economic impacts that trigger greater congressional oversight in the REINS Act.

    The REINS Act clearly demonstrates the view of its conservative sponsors and supporters that federal agencies have too much authority to take actions with too great significance; yet rather than remove such authority from those agencies and require Congress to exercise it, these legislators are content merely to give themselves an up-or-down vote after the fact—and even then, only for regulations with considerable economic impact, not those that answer transformative cultural questions about which ordinary people and their legislators expect to express views and direct policy. Thus, even in the REINS Act, the premise that expertise, after all, lies with the agencies still reigns.

    The REINS Act is notable—and rightfully criticized—for another reason, too. It provides that all other rules outside the definitions stated above are “nonmajor” rules, which Congress may disapprove under the REINS Act. But surely this is a fact that need not be stated. Of course Congress can negate an action of a regulatory agency if it chooses. The fact that legislators see the REINS Act as a vehicle to state that power is alarming, but it is also illustrative of Congress’ impotence in the face of the size and scope of the modern administrative state.

    Regulatory Oversight and Deregulation 

    Republicans have long pursued a deregulation strategy as another antidote to the proliferation of the administrative state, although with no more success than any other strategy discussed here. Deregulation and regulatory oversight strategies are executive efforts to exert more control over agency rulemaking, but these strategies fail because the executive lacks fundamental control over the administrative state.

    The Reagan Administration’s regulatory oversight required agencies to prepare cost-benefit analyses for major rules and required that agencies only issue regulations that maximize net benefits (defined as social benefits minus social costs). Similar to the REINS Act, this approach focuses not on the substance of federal regulations but only on their potential costs (and estimating costs depends on accurate forecasting—a dubious proposition). The error of this approach is on display in immigration policy. Federal regulations that grant visas to hundreds of thousands of immigrants might be economically “scored” as beneficial to the country’s gross domestic product, but that cost analysis, even if accurate, speaks to only one aspect of immigration policy and neglects the transformational effect of immigration on culture, the allocation of labor, the displacement of American workers, and domestic wages. The Reagan Administration’s regulatory policy focused myopically on the economic impact of regulation, as if regulations could only pose harm by undertaking economic decisions without the people’s participation through their elected representatives, not social, cultural, or political decisions, despite their obviously transformative nature.

    Besides, the Reagan Administration’s regulatory oversight program can be judged by its fruits. By the final two years of that administration, the pace of new regulations had increased, and that increase continued into the Bush Administration. The power of the administrative state to dictate the lives of Americans, divorced from political oversight, did not shrink; it grew.

    For its part, the Trump Administration attempted a new regulatory strategy targeted more precisely at deregulation. The Trump Administration pledged to remove two regulations for every one enacted, and even made the promise official by promulgating it in an executive order. The policy sounded good but faced legal and procedural hurdles. For one, deregulation requires federal agencies to go through the same notice-and-comment process that applies when affirmatively regulating, so the policy could, at most, require agencies to initiate the withdrawal of two regulations for every one proposed. From that point forward, the deregulatory and regulatory efforts had to follow different trajectories, leaving no guarantee that two regulations would actually be withdrawn for every one imposed. Nor was there any guarantee that the regulations targeted for withdrawal would be equal in significance to any new regulation being proposed.

    Ultimately, the Trump Administration’s deregulatory initiatives resulted in the enactment of fewer new regulations compared to its predecessor administrations, and the Trump Administration did try to remove many regulations as well, but many of these efforts foundered on legal grounds.

    Most of the Trump Administration’s important deregulatory actions, like barring asylum eligibility for certain individuals entering the United States at the southern border or rolling back the Obama Administration’s Clean Power Plan, were litigated immediately and enjoined. Overall, the Trump Administration’s track record in litigation was dismal. By one assessment carried out by the Institute for Policy Integrity, the Trump Administration succeeded in defending its regulatory actions in court 58 times but was unsuccessful 200 times. That means a mere 22 percent of the Trump Administration’s regulatory actions survived judicial review.

    The Trump Administration’s deregulatory efforts come the closest of any conservative strategy to resisting the Landis premise itself: at least under President Trump, the executive branch attempted not merely to layer procedural requirements onto the regulatory process or create greater oversight for economically significant laws, but to actually reduce regulation directly. But the Landis premise is so deeply embedded in the modern regulatory state that executive action alone cannot unseat it. 

    Deregulation requires the same procedures as regulation, and it is subject to judicial review, which places it ultimately beyond the executive’s sole control. The administrative state results in tyranny because it operates without political oversight. Presidential oversight is an illusion. The president sits atop the bureaucracy but can have precious little effect on its conduct. The president cannot order agencies to act without following the burdensome and time-consuming notice-and-comment procedures; nor can the president rescind past agency action without undertaking the same burdens—to say nothing of the general unresponsiveness of the bureaucracy to pursuing any policy with haste or diligence.

    A Proper Diagnosis

    Conservatives have failed to restrain the administrative state because they have accepted the Landis premise—that the administrative state is a necessary governmental innovation required by the complexity of modern society. This intellectual capitulation is what ensures that the balance of power in this country will remain not only in Washington, D.C., but specifically with the largely unaccountable administrative state. The federal bureaucracy is the home of the most prestigious jobs in public service, the best salaries and benefits, the greatest esteem, and the most power. Educated and well-qualified individuals who aspire to power and influence want to join the administrative apparatus. These are the experts, after all, and we have entrusted to them the power to rule us.

    Never before has the fallacy of expert governance been so exposed as it is today, following the emergence of COVID-19 in the United States. The problem of COVID-19 placed federal public health officials on the national stage, demanding that their expertise direct and save the nation. And they failed. They opposed masking before demanding it universally; they advocated destructive lockdowns that uncannily reflected liberal biases (like shuttering churches on account of public singing while permitting in-person alcohol sales); they ignored the science of child infection in favor of virtual schooling that has disadvantaged (or worse) a generation of children; and they opposed a vaccine as “rushed” when it was President Trump’s accomplishment, only to mandate the same vaccine at the expense of one’s livelihood once President Trump was no longer in office. These are the experts. Their training prepared them for this moment, and when the nation needed them, they proved themselves to be credentialed political hacks.

    That is why any conservative response to the administrative state must begin with the counter-Landis premise: that rule by experts and technocrats is not the self-evident and necessary solution to the problem of modernity, and that in fact, rule by experts and technocrats is just as likely to harm the nation, by impeding individual freedom and restraining economic prosperity. The so-called “expertise” of the administrative state is not expertise at all but simply politics unbridled: it is liberal hegemony divorced from democratic accountability.

    The only prescription for the administrative state is deconstruction. Dismantling. Eliminating at least some of the nearly 2 million civilian federal employees (let alone the legions of federal contractors) who comprise the unaccountable and uncontrolled administrative state.

    A future Republican president cannot deconstruct even a portion of the federal bureaucracy without significant preplanning that begins well before assuming office. Any Republican presidential candidate must catalog a list of obsolete federal agencies and programs and articulate to the American people the waste and excess required to maintain these frivolous bureaucratic outlets.

    At the same time, a future Republican president must be willing to articulate a broader vision for deconstructing significant portions of all federal agencies, including recruiting cabinet officials who are committed to downsizing their agencies. 

    Realistically, as the experience of the Trump Administration shows, a project to deconstruct the administrative state will depend on the participation of Congress in order to be successful. Taking down even a single regulation requires considerable effort and carries little guarantee of success, as shown by the Trump Administration’s track record in legal challenges to deregulatory efforts. Taking down entire swaths of the federal bureaucracy will face even greater obstacles, including in the form of legal challenges from career federal employees, many of whom are unionized and enjoy special employment protections. Significant policy reforms can proceed only from possession of significant political power. The greatest inroads will be made against the administrative state when the coordinated power of two branches can be brought to bear against it.

    A tangible deconstruction along these lines will only be possible if conservatives begin by deconstructing the mindset of the administrative state. Rule by experts is foreign to our constitutional separation of powers; it is incompatible with democratic accountability and legitimacy; and it has proved itself a failure in our own lifetimes. The political branches and the states must be returned to their lawmaking power, and conservatives must relearn to express confidence in that power. 

    Conservatives must accept that some things simply will not be done by a smaller administrative state, and that is the point. Policies that can be achieved only through tyranny are too costly. To the extent that they deserve to be pursued, they must be housed in branches or levels of government sufficiently responsive to the people and their elected representatives so that tyranny is averted.

    How does this translate into actionable policies for a new Republican administration?

    With difficulty, of course, but some measures come to mind, particularly where a Republican-led executive branch can work cooperatively with a Republican-led Congress.

    • First, draft and pass legislation to require a universal sunset for all agency regulations. As it stands, agencies enact regulations frequently but rarely take any down (and, as the experience of the Trump Administration shows, taking down regulations is fraught with legal challenges and is not guaranteed to succeed). Yet many good reasons exist for revisiting regulations at some point after their enactment. When regulations are enacted, predictions about their costs, benefits, and effectiveness are speculative at best. Fifteen years on, more can be said about whether a particular regulation has been justified. Mandatory sunsets also require Congress to act if a regulation is to be retained, which restores at least some measure of democratic accountability to a bureaucracy that has been allowed to otherwise run amok.

    • Second, repeal and reverse large portions of the Pendleton Civil Service Reform Act of 1883 and the Civil Service Reform Act of 1978, with the imposition of term limits for bureaucrats. These acts standardized federal government hiring and required that bureaucrats be primarily hired as nonpolitical positions of expertise. This has had the effect of stultifying the bureaucracy, turning hiring into a quota system and exacerbating the problem of unaccountable bureaucrats remaining in their posts for a lifetime. These reforms could have the advantage of surprise, an advantage already squandered for the Schedule F reforms, which the Trump Administration pursued by executive order and the Biden Administration immediately rescinded. Much attention has been paid to Schedule F reforms, allowing the Left to mount a public relations counterattack. But finding new ways to control the bureaucracy could allow for the element of surprise once again.

    • Third, Republicans should ban or restrict public-private partnerships in governance. The idea is a radical one because, at present, both the Left and the Right support these kinds of arrangements. Because government is perpetually behind the private sector in terms of technology, sophistication, innovation, and general capabilities—so the thinking goes—partnering with the private sector to provide government services allows the government to compensate for its inadequacies. But this compensation means that government remains able to grow its mandate despite its ineptitude, fanning into an ever-more-expansive oversight of Americans’ lives, and it does so at the cost of sharing data with private sector businesses that desperately seek to own and profit from it. 

    Consider the Obamacare exchanges, for example, which are run by private entities and host the personal health, financial, employment, and other data of millions of Americans—data that private entities are happy to contract with the federal government to control. These kinds of partnerships present increasing threats to the American people (including the threat of a growing and unaccountable federal bureaucracy) even as they decrease in visibility (think “government” websites owned and operated by private entities, with consumers none the wiser). Congress can and should exercise oversight over whether and how the federal government outsources its work to the private sector because private sector innovation and nimbleness allow the administrative state to do things that are beyond its capabilities. Obviously, some nuance is required, because the Department of Defense cannot help but contract with private entities to build military aircraft, and no one would suggest otherwise. Yet the proliferation of public-private partnerships for the purpose of growing government and ceding Americans’ data to the private sector is a real problem and one that deserves the attention of any future Republican administration.

    These reforms require Congressional cooperation and significant preparation in advance of a Republican presidential administration. But if accomplished, they promise durable change to the administrative state. To be clear: their success depends on the wholesale rejection of the Landis premise and a complete commitment to the urgent necessity of dismantling the administrative state. Upending the belief that only rule by experts can accomplish the aims of modern governance must be the goal of any future Republican administration.

    *  *  *

    This essay is adapted from, “A Century of Impotency: Conservative Failure and the Administrative State,” by Theo Wold in Up from Conservatism: Revitalizing the Right after a Generation of Decay, edited by Arthur Milikh (Encounter Books, 328 pages, $32.99).

    Tyler Durden
    Sat, 06/24/2023 – 23:30

  • Artificial Intelligence: The Journey To A Thinking Machine
    Artificial Intelligence: The Journey To A Thinking Machine

    When the latest iteration of generative artificial intelligence dropped in late 2022, it was clear that something significant had changed.

    The language model ChatGPT reached 100 million active monthly users in just two months, making it the fastest-growing consumer application in history. Meanwhile, Goldman Sachs predicted that AI could add 7% to global GDP over a 10-year period, almost $7 trillion, but also replace 300 million jobs in the process.

    But even as AI continues to disrupt every aspect of life and work, it’s worth taking a step back. 

    In this visualization via Visual Capitalist’s Chris Dickert and Sabrina Fortin, the first in a three-part series called The AI Revolution for sponsor VERSES AI, we ask how we got here, where we’re going, and how close are we to achieving a truly thinking machine?


    Milestones to Mainstream

    The term “artificial Intelligence” was coined by computer scientist John McCarthy in 1955 in a conference proposal. Along with Alan Turing, Marvin Minsky, and many others, he is often referred to as one of the fathers of AI. 

    Since then, AI has grown in leaps and bounds. AI has mastered chess, beating Russian grandmaster and former World Chess Champion Garry Kasparov in 1997. In 2016, Google’s AlphaGo beat South Korean Go champion Lee Sedol, 4-1. The nine-year gap in achievements is explained by the complexity of Go, which has 10360 possible moves compared to chess’ paltry 10123 combinations.

    DALL-E arrived in 2021 and ChatGPT-4 in early 2023, which brings us to today.

    But What is Artificial Intelligence?

    There’s a big difference between the Roomba that vacuums your condo and HAL from 2001: Space Odyssey. This is why researchers working in the field have come up with the following ways to classify AI:

    Despite a false alarm by one Google software engineer in 2022 and a paper by early GPT-4 boosters, no one really believes that recent generative AIs qualify as thinking machines, however you define it. ChatGPT, for all its capabilities, is still just a souped-up version of autocomplete. 

    Do Androids Dream of Electric Sheep?

    That was the title of Philip K. Dick’s science fiction classic and basis for the movie Blade Runner. In it, Harrison Ford plays a blade runner, a kind of private investigator who used a version of the Turing Test to ferret out life-like androids. But we’re not Harrison Ford and this isn’t science fiction, so how could we tell?

    People working in the field have proposed various tests over the years. Cognitive scientist Ben Goertzel thought that if an AI could enroll in college, do the coursework and graduate, then it would pass. Steve Wozniak, co-founder of Apple, suggested that if an AI could enter a strange house, find the kitchen, and then make a cup of coffee, then it would meet the threshold. 

    A common thread that runs through many of them, however, is the ability to perform at one thing that humans do without effort: generalize, adapt, and problem solve. And this is something that AI has traditionally struggled at, even as it continues to excel on other tasks. 

    Can Current State-of-Art AI Achieve Thinking Machines?

    And it may be that the current approach, which has shown incredible results, is running out of road.

    Researchers have created thousands of benchmarks to test the performance of AI models on a range of human tasks, from image classification to natural language inference. According to Stanford University’s AI Index, AI scores on standard benchmarks have begun to plateau, with median improvement in 2022 limited to just 4%.

    New comprehensive benchmark suites have begun to appear in response, like BIG-Bench and HELM, but will these share the same fate as their predecessors? Quickly surpassed, but still no closer to an AI like J.A.R.V.I.S. that could pass the Wozniak Coffee Test?

    Imagine a Smarter World

    VERSES AI, a cognitive computing company specializing in next generation AI and the sponsor of this piece, may have an answer.

    The company recently released research that shows how to build an AI that can not only think, but also introspect and explain its “thought processes.” Catch the next part of The AI Revolution series to learn more.

    Tyler Durden
    Sat, 06/24/2023 – 23:00

  • The Catastrophic Failures Of The Biden Administration Are Motivating More Americans Than Ever To Prepare For An Apocalypse
    The Catastrophic Failures Of The Biden Administration Are Motivating More Americans Than Ever To Prepare For An Apocalypse

    Authored by Michael Snyder via The Economic Collapse blog,

    The verdict is in.  Joe Biden is the worst president in the entire history of the United States, and that is really saying something because we have had some absolutely horrible presidents. 

    Just about everything that Biden has done since he entered the White House has turned out badly, and our once great nation is now barreling down a deeply self-destructive path.  If we do not reverse course, our country is not going to have a future, and more Americans than ever are losing faith in the federal government.  In fact, a brand new survey has discovered that a lack of faith in the government in Washington is motivating large numbers of Americans to hoard “water, food, warm clothing, weapons, and cash” for the extremely chaotic times that are ahead of us…

    People watching President Joe Biden’s shaky grip on Washington have lost faith the government will protect them in a doomsday event, and that’s driving a national prepper movement.

    With the Doomsday Clock the closest to midnight it has ever been, over 70% in a new survey of 6,200 said they “do not have faith in the government” in a catastrophe such as a nuclear war or even climate-change-fueled disaster.

    As a result, many are hoarding water, food, warm clothing, weapons, and cash to help them get through the worst days of a doomsday event.

    These days, companies that are helping people get prepared for what is coming are generating more revenue than ever before.

    In fact, the emergency food industry now generates approximately 500 million dollars in sales each year.

    And it turns out that those that are in the 40-year-old to 65-year-old age bracket are the most likely to be prepping

    Those aged 40-65 are more likely to be prepping, and twice as many men as women are getting ready for a disaster.

    Just what that disaster will be is dividing the nation. Some 55% cited climate change, 36% virus and disease, and 25% a nuclear attack. But there were other concerns. Over 15% are concerned about an asteroid strike, 15% about a robot or artificial intelligence “takeover,” and 7.5% about a “zombie apocalypse.”

    It doesn’t surprise me that middle-aged Americans are the most likely to be prepping.

    I have noticed that a lot of young people under the age of 40 just don’t understand the changes that we are witnessing all around us.

    But those of us that are a little bit older and a little bit wiser can see where global events are taking us.

    At this point, even middle-aged celebrities such as Josh Duhamel are preparing for what life will be like after things “hit the fan”

    “Transformers” and “Las Vegas” star Josh Duhamel has spoken out about becoming a doomsday prepper, stating that he’s planning on protecting his family if the “s*** hits the fan” in Los Angeles. The actor, who has starred in the TV show “Las Vegas,” gave an interview in which he explained, “I’ve become a bit of a doomsday prepper, I guess.”

    Duhamel told the website Inverse, “I’m learning how to hunt. I fish.” He added, “Suddenly I had 54 acres out there. So I had two cabins, one with no electricity or water. They both have wells and electricity now, but they’re both really small.”

    Overall, it has been estimated that over 20 million Americans are “actively planning” for some sort of a major emergency…

    In 2020, more than 20 million Americans, nearly 7 percent of all U.S. households, were actively planning for an emergency, according to the latest analysis of Federal Emergency Management Agency data.

    Plus, those stockpiling canned goods in the cupboards, caching ammunition and hoarding toilet paper now come in all stripes – from suburban ‘guardian moms’ to multi-millionaire tech gurus.

    Since that figure is a few years old, I have a feeling that the true number would be significantly higher now.

    And speaking of “tech gurus”, a group in Japan has actually come up with a survival plan that is truly bizarre.

    It is a floating city that can hold up to 40,000 people, and some are calling it “a real life Noah’s Ark”

    TECH boffins have unveiled plans for a bizarre floating city likened to a real life Noah’s Ark.

    The ocean-based metropolis would provide a “self-sufficient habitat” for 40,000 people, designers in Japan say.

    It looks cool, but even once construction is started it will take many years before it is finally ready.

    And even though the designers claim that it would be “resilient to an apocalypse”, I severely doubt that it could withstand being hit by a giant tsunami…

    The developers, N-Ark, even claim the zone – named Dogen City – would be resilient to an apocalypse.

    Measuring 4km in circumference, the plan would be for inhabitants to be able to get to any point in the zone within an hour.

    At least they are trying to do something.

    And the truth is that we should all be trying to do what we can, because all of us can see that our world is getting a little bit more crazy with each passing day.

    This week, I was absolutely horrified to learn that three teens actually tried to light sticks of dynamite inside a Philadelphia grocery store

    The Philadelphia Police Department is searching for at least three teenagers who allegedly attempted to light sticks of dynamite inside a grocery store, according to reports.

    The incident occurred at the Fresh Grocer located on the 5300 block of Chew Avenue in the city’s Germantown section on June 20 at 5:10 P.M., local news station Fox 29 reported.

    Police have said that a member of security called the police after seeing teens roughly between the ages of 16 and 19 years old wearing all-black clothing “light sticks of dynamite within the store,” according to the report.

    Our entire society is slowly but surely going completely nuts.

    It is almost as if we are all stuck inside a really bad science fiction movie and we can’t get out.

    Unfortunately, we are only in the very early chapters of this nightmare.  Things will eventually get much worse than they are now.

    So if you have already been prepping, don’t stop.

    If you have not been prepping, I would encourage you to get moving, because the clock is ticking.

    *  *  *

    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, 06/24/2023 – 22:30

  • These Are The World's 10 Top Restaurants
    These Are The World’s 10 Top Restaurants

    This year’s edition of ‘The World’s 50 Best Restaurants‘ by publishing group William Reed Business Media was released this week. The ranking is one of the most highly anticipated events of the culinary calendar.

    As Statista’s Katharina Buchholz reports, the so-called Oscars of gastronomy have named Central in the Peruvian capital Lima as the top restaurant in the world, followed by two Spanish restaurants – Disfrutar in Barcelona and DiverXO in Madrid.

    All three restaurants had ranked among the top 5 in 2022 and notched up as last year’s front runner, Copenhagen’s Geranium, did not feature on the list per the ranking’s rules.

    The rest of the top ten roundup includes one more Spanish and two more Latin American restaurant as well as a new entry from Denmark: Alchemist, also in Copenhagen.

    Infographic: The World’s Best Restaurants in 2023 | Statista

    You will find more infographics at Statista

    Having been touted as a gastronomic destination for years, two restaurants from Lima actually placed in the top 10 this year. Gold medalist Central – run by husband and wife duo Virgilio Martínez and Pia León – has its own research arm and serves 15 courses per meal that take diners through Peru’s different altitude levels from the sea floor to the high Andes.

    Maido, placed sixth, combines Japanese and Peruvian influences – a style that helped catapult Lima onto the gastronomic scene in the 1990s.

    As far as U.S. entries go, one restaurants made this year’s top 10 (after none in 2022). Ranked eighth, Atomix in Manhattan’s Koreatown serves modern Korean dishes, seats only 14 and climbed up 25 spots since last year, an astonishing feat for the list.

    The World’s 50 Best Restaurants was first launched 20 years ago by the British magazine Restaurant Magazine as an alternative to the Michelin stars system. The ranking has faced criticism in recent years for elitism, with claims of jurors favoring restaurant owners they know, and for featuring mostly restaurants in Europe and a couple of metropolises around the world. After last year had featured only one entry from Africa in the top 50, the South African restaurant in questions has since moved to rank 75, leaving no honorees from Africa – or India, in 2023, as Bon Appétit points out.

    Tyler Durden
    Sat, 06/24/2023 – 22:00

  • China's Economy Is Faltering
    China’s Economy Is Faltering

    Authored by Terri Wu via The Epoch Times (emphasis ours),

    With graduation less than a month away, many college students in China are still scrambling to find a job.

    A man works at a construction site of a residential skyscraper in Shanghai on Nov. 29, 2016. (JOHANNES EISELE/AFP via Getty Images)

    At a free live-stream webinar by a jobseeker training company in mid-June, many of the 800 participants—primarily unemployed 2023 and 2022 graduates—logged eager comments to claim free templates for resumes.

    “Many of my trainees told me that they live with their parents, who had been scolding them for not trying hard enough to land a job,” the host told the attendees.

    “I can tell them [parents]: finding a job this year is challenging. It’s the market; it’s not you,” the host added. “Forwarding my webinar to your parents will help you alleviate the anxiety.”

    Anxiety was undoubtedly the prevailing mood among attendees of the webinar held on a popular Chinese social media app, as shown through emojis and remarks in the comments section. The macro numbers point to a similar picture.

    China’s official youth unemployment rates were 20.8 and 20.4 percent in May and April, respectively—about four times the overall unemployment rate of 5.2 percent. It’s also about double the level of young unemployment just before pandemic measures kicked in.

    This rate means that one in every five 16- to 24-year-olds seeking work in urban areas don’t have a job. And the percentage doesn’t include those not looking for employment: two-thirds of China’s 100 million young urban population.

    This growing crisis prompted Chinese authorities in April to announce a series of policy incentives to take effect by the end of 2023, including subsidiaries for expanding hiring by state-owned enterprises (SOE), encouraging financial institutions to increase hiring and business loan issuance, offering more vocational training, and creating no less than a million internship positions.

    Still, higher youth unemployment is expected for the next few months, according to a May estimate by Goldman Sachs.

    On June 18, the investment bank also cut China’s 2023 gross domestic product (GDP) growth forecast from 6 to 5.4 percent, citing macroeconomic issues—property sector, debt issues, and U.S.-China tensions—that are unlikely to be addressed by China’s stimulus measures.

    China’s central bank started cutting interest rates in mid-June, following a deposit rate decrease by major banks. Goldman’s downgrade followed similar assessments by a host of major banks, including UBS, Bank of America, and JPMorgan, that have lowered their GDP growth outlook for the country.

    Paramilitary policemen patrol in front of the People’s Bank of China, the central bank of China, in Beijing on Jul. 8, 2015. (Greg Baker/AFP via Getty Images)

    Long Before the Pandemic

    Today’s high youth unemployment rate is a symptom of years of ambitious growth on paper supported by a heavily indebted economy, according to Christopher Balding, an expert on the Chinese economy at the Henry Jackson Society, a UK-based think tank.

    The problem, he said, preceded the pandemic, and has been 15 years in the making.

    I don’t think the pandemic’s contribution to this is zero. However, I don’t think it’s a majority,” Balding told The Epoch Times. “The pandemic probably made it a little bit worse, but these problems would exist with or without the pandemic.”

    In response to the global financial crisis, Chinese authorities released a fiscal stimulus package of 4 trillion yuan ($586 billion at the time), equivalent to 12.5 percent of the 2008 GDP, according to the World Bank. By comparison, the U.S. stimulus package was $939 billion from 2008 to 2010 and about 6 percent of its 2008 GDP. China’s central bank also loosened money policy significantly by cutting the interest rate by over 2 percent to 5.31 percent in December 2008.

    Balding said that China went on a path of pushing for artificially high growth rates after 2008, growing infrastructure regardless of demand. At the same time, Chinese authorities, companies, and families have piled on debt.

    China’s core debt—credit to the non-financial sector—is nearly three times its GDP, compared to the U.S. ratio at 2.5 and emerging market economics at an average of 2.2, according to the Bank for International Settlements, known as the central bank for central banks.

    On June 17, China’s State Administration of Market Regulation issued a new regulation to “restore credit for business entities.”

    “It’s basically advising banks to help firms repair their credit, ignore firms’ missed payments, and so on,” said Balding. “The fact that they’re putting out that type of advice to financial institutions, as a regulator, speaks to the depth of the problem related to debt.”

    “And if you’re a heavily indebted company, taking on more debt or taking on additional labor is a very big ask,” he added, referring to the Chinese Communist Party’s (CCP) policies to stimulate hiring.

    China’s household debt-to-GDP ratio rose steadily from 17.9 percent in December 2008 to 63.3 percent in March 2023, compared to 65.7 percent in the United States. More tellingly, the Chinese household debt as a percentage of disposable income reached 130 percent by the end of 2020, more than that of the United States at 100 percent the same year.

    In Balding’s view, China’s supply-driven growth has hit a wall and can theoretically be solved by stimulating demand. However, he considers driving demand unrealistic because the CCP cannot do what’s required—that is, to empower consumers and give individuals the freedom of choice.

    “I think there’s a lot of possibilities or a lot of hope for China, but it would absolutely require dismantling policies in China that are not going to be dismantled,” he said, citing restrictions on interprovincial migration and the latest rural management restrictions on the use of arable land.

    Antonio Graceffo, a China economic analyst, said the regime has routinely responded to economic trouble by investing in infrastructure. But that approach might not work again this time around.

    “All the sensible infrastructure has already been built in China; we’re at a point where all the major ports, the cities, everything is connected. So when they build more infrastructure now, it’s really just making work,” he told The Epoch Times.

    You’re just creating jobs, paying for it out of the public revenues, and it’s not necessarily yielding any sort of significant GDP advantage.

    The country, he said, no longer has the types of infrastructure projects such as the Beijing-Shanghai high-speed rail to fuel GDP growth again. “I think China has seen their biggest growth that they’re ever going to see,” Graceffo, a contributor to the publication, added.

    A worker operates a machine for knitting socks in a factory in Funan County in central China’s Anhui province on March 1, 2022. (Chinatopix via AP)

    Beyond the Official Number

    China’s official youth unemployment rate may not capture the full story.

    Jobseekers between the age of 16 and 24 include middle and high school graduates from rural areas seeking urban employment and city students with undergraduate degrees.

    A professor at a private college in Guangzhou, a mega city in China’s affluent coastal south, believes the actual rate is much higher than the official 20 percent—as high as 80. She spoke to The Epoch Times on the condition that her name, college, and professional field be anonymous to avoid being tracked down by the CCP.

    Only two of the 350 graduates in her department this year have found jobs. With graduation on June 28, students must provide employment information to get the diploma.

    The official proof for employment is the “three-way agreements,” but schools also accept any form of labor contract. The “three-way agreement” is signed between the student, an employer, and the school to satisfy the requirements of the local government human resources agency.

    Students are not issued a diploma if they do not provide employment paperwork. The rule is understood but not written,” the professor told The Epoch Times, adding that if a student would challenge this rule to the school or the city’s education department, the school would then withhold the diploma citing insufficient internship credit.

    As a result, students forge employment in various ways, according to the professor. He cited the example of a friend whose son has not worked for three years after graduation but is “employed” on paper.

    In China, public colleges are of a higher academic caliber than private ones and charge less tuition. They are the common campus recruiting sources for SOEs, and they have creative ways to boost their graduates’ employment rate.

    The professor, who previously taught at a public college, said that public institutions engage in a practice known as “hitchhikes” to skirt the rules. For example, if an SOE had a quota of two new hires for a college, the college would give the SOE a list of 12 more student names to ink fraudulent three-way agreements. In this way, the university’s “education quality” report looks better, and its unemployment rate is also lower on paper.

    Since three-way agreements are not real labor contracts, signing such “hitchhiking” paperwork doesn’t result in actual employment.

    Last year, the professor began to hear about employment difficulties from her students, a problem that become more prominent this year. In Guangzhou, most of the students find jobs in foreign or private Chinese enterprises; very few go to SOEs, where students’ family connections are essential for job placement. However, job availability in foreign and private companies has shrunken significantly due to foreign investment leaving China and the authorities’ clampdown on the private sector.

    Read more here…

    Tyler Durden
    Sat, 06/24/2023 – 21:30

  • Abortions Are Down 3% One Year After End Of Roe v Wade
    Abortions Are Down 3% One Year After End Of Roe v Wade

    Despite the extreme sound and fury, legal abortions have fallen about 3% nationwide in the year since the Supreme Court overturned Roe v. Wade, according to Axios.

    Between April 2022 and March 2023, the number of monthly abortions performed in the United States decreased by an average of around 2,850 following the ban or restriction of the procedure.

    As Statista’s Katharina Buchholz details below, 15 states have banned most abortions or have limited them to 6-weeks of gestation, a time when many pregnancies still go undetected. Four more states have restricted abortions to 12 to 15 weeks, which is when a large majority of abortions occur. While five states are still in legal limbo, 27 continue to allow abortions up to the fetal viability limit formerly defined by Roe, at around 23 to 25 weeks. Most recently, a 6-week ban in Iowa failed in front of the state’s Supreme Court and the tightening of bans is still expected in Arizona and Florida, among others.

    Infographic: Post-Roe v. Wade: The State of U.S. Abortion Laws | Statista

    You will find more infographics at Statista

    Most of the 27 states guarantee these rights through state laws or state Supreme Court decisions. State constitutional amendments or referendums on abortions, which are harder to overturn, are actually quite rare in the U.S., as Statista’s graphic shows.

    States which have not banned or restricted abortions despite not protecting them in any way are Democrat-led New Mexico, Republican-led New Hampshire as well as Virginia and Pennsylvania, which have split governments.

    Data from activist group Society of Family Planning shows safe haven locations that some abortions have shifted to following the decision.

    Infographic: Post-Roe v. Wade: U.S. Abortions Shift and Decrease | Statista

    You will find more infographics at Statista

    Illinois and Florida emerged as the biggest of such safe haven states as of March. Around 1,400 more monthly abortions per state were performed on average between June and March compared to April 2022, before Roe was overturned. Florida saw this increase despite a ban on abortions after 15 weeks that came into effect on July 1, as states in its vicinity passed even harsher restrictions. Governor Ron DeSantis has already signed a law that prohibits abortions after 6 weeks of gestation, but it will only come into effect once a court case around the first ban has been resolved. If the 6-week ban would start to be enforced, this would shift and potentially decrease abortions again as many pregnancies go undetected until that stage.

    Another state that saw monthly abortion numbers go up since April 2022 was North Carolina (+881) – likely due to its vicinity to Georgia, where almost 1,800 fewer abortions were performed per month on average. A new ban on abortions after 12 weeks comes into effect in North Carolina on July 1. But like in the case of Florida, this might only change the number slightly as 93 percent of U.S. abortions are performed at or before 13 weeks. Colorado saw an average monthly increase of 500 abortions, while Kansas and Virginia saw around 350 more per month.

    However, shifts in abortions did not make up for overall decreases. Abortions were outlawed or heavily restricted in some populous states which led to more than 1,000 fewer taking place every month in Georgia, but also in Texas (-2,593) and Tennessee (-1,122). The makers of the report point out that traveling to receive an abortion is not a new phenomenon as access to the procedure and the laws around it varied widely in the U.S. even before the overturning of Roe v. Wade. In 2020, an average of 9 percent of those receiving an abortion already traveled out of state. The report also says that due to the now increased travel activity and a concentration on some states, longer wait times for abortions occurred in 2022 and 2023.

    Tyler Durden
    Sat, 06/24/2023 – 21:00

  • Hunter Biden's Plea Reveals DOJ Has Double Standard On Gun Charges
    Hunter Biden’s Plea Reveals DOJ Has Double Standard On Gun Charges

    Submitted by Gun Owners of America,

    The Hunter Biden laptop story has finally resulted in criminal charges for the President’s son. Hunter Biden made a deal with federal prosecutors, pleading guilty to two tax-related misdemeanors and resolved his felony gun charge. 

    Hunter’s gun charge being resolved is a fancy legalese word for that charge being subject to a pre-trial diversion. This is a plea agreement that not only allows for a criminal defendant to maintain a clean record but avoid jail time as well, provided that they complete pre-trial probation requirements set by the judge. 

    This means that Hunter Biden can still legally own a gun. 

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

    The firearms charge that Hunter Biden faced resulted from a 2018 incident in which Hunter’s girlfriend tossed his revolver into the trash. This incident corresponded to later interviews in which Hunter detailed being addicted to drugs around the same time. This caused speculation that he broke federal law when buying the firearm.

    For those unfamiliar with complex federal firearms law, when buying a firearm from an FFL or firearms dealer, you must complete Form 4473, also known as a firearms transaction record. This record is then used to file a NICS check, also known as a background check, with the FBI. 

    On Form 4473, there is a question about whether the purchaser of the firearm is addicted to any drugs. Answering yes on the form automatically denies the firearm purchase, so for Hunter Biden to have been able to purchase his gun, he would have had to lie on the form.

    Now you might be thinking that this isn’t a serious crime and that surely other people have been let off the hook as well. 

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

    That’s where you’d be wrong. Rapper Kodak Black was charged with the same crime of falsifying information on federal forms to buy four firearms at a Miami gun shop in May of 2019. He was sentenced to more than three years in prison stemming from that charge. 

    And Kodak Black isn’t the only one being convicted. In April 2023, a woman in Iowa was sentenced to a year in prison for lying about her address and drug use on Form 4473. 

    Even more egregious is that just last week, a woman in Virginia was charged with making a false statement on her 4473 because she had previously used marijuana. Important to note Virginia legalized recreational marijuana use two years ago. The Biden DOJ is sending the American people a clear message: “Rules for thee, not for me.”  

    In addition, Form 4473 has been weaponized by the Biden DOJ & ATF through regulatory policy to create an illegal backdoor firearms registry. We at Gun Owners of America have covered this at length, and you can read our in-depth report here.

    All of this serves as a reminder that Form 4473s and background checks on firearms are unconstitutional in the first place. 

    Tyler Durden
    Sat, 06/24/2023 – 20:30

  • "Blatant Political Corruption": The Rot In America's Democracy Explained In Under 1000 Words
    “Blatant Political Corruption”: The Rot In America’s Democracy Explained In Under 1000 Words

    Over the last several weeks and months, a deluge of damning breadcrumbs have been revealed by various whistleblowers, congressional investigators, and investigative reporters – the entirety of which has been a shotgun blast of information overload.

    When put together, they paint a picture of such shocking corruption, that one can only conclude that the period we’ve lived through, between the 2020 US election, the funding, origins, and coverup of the Covid-19 pandemic, and the overt corruption of the Biden family, one can only conclude that we’re living through one of the worst, if not the worst, periods of political scandals and institutional rot in American history.

    Making sense the current state of affairs is journalist Tom Elliott, founder of Grabien, who has assembled what may be the world’s most perfect tweet on how Joe Biden owes his 2020 election victory to “blatant political corruption.”

    The more we learn about the 2020 election, the more undeniable it becomes that Biden owes his “victory” to blatant political corruption. To wit:

    1) An IRS probe into the Bidens money laundering payments from hostile nations — the normal outcome of which would have ended his candidacy — was instead given a stand-down order

    2) The FBI & IRS wanted to search Biden’s house in September 2020 but were given a stand down order.

    3) The @FBI authenticated Hunter’s laptop a year before the NYPost first reported on its contents

    4) Rather than use the laptop’s voluminous documentation of myriad felonies to initiate criminal investigations, the FBI hatched a plot to warn social media companies of an imminent “hack & leak” operation of what they heavily suggested was Russian disinformation

    5) The FBI used its 2016 Russia collusion probe — which the Durham probe has since proven was essentially an extension of the Clinton campaign — to rationalize its meddling in the 2020 election.

    6) The FBI also conducted an influence operation with various reporters at major newspapers to convince them that forthcoming damaging reporting about Biden that they knew was true was in fact not

    7) The FBI was spying on Giuliani when he shared the laptop’s contents with the NYPost

    8) When the FBI told Twitter & Facebook a Russian disinformation campaign was coming, they had already concluded Russia wasn’t trying to game the election

    9) In their attempt to corroborate their own rumor of Russian electoral influence, the FBI became aggressive with its demands for user data from Twitter, eventually getting shutdown for seeking users’ private info without a warrant

    10) Nonetheless, in the preceding years, the FBI established a beachhead inside Twitter, with an operations center of former agents who communicated via their own dedicated slack channel. These ex-agents included Jim Baker, the FBI’s former top counsel who played a central role in the FBI’s Trump/Russia scam, as well as Comey’s former chief of staff, Dawn Burton, who started the FBI’s Russia collusion probe.

    11) The CIA, in collusion with the Biden campaign, seeded disinformation claiming the laptop was itself Russian disinformation. The major media used this as a pretext to avoid reporting on its contents and instead attack those who were.

    12) The FBI also arranged a meeting with Sens. Grassley & Johnson about supposed Russian disinformation & Hunter Biden.

    13) The FBI then used this briefing with the senators to justify quashing their own agents’ probe into the Bidens’ corruption.  

    14) When the story broke mere weeks before the election — one that polling later indicated would have altered enough Democrat votes to send Trump to a second term — Twitter & Facebook orchestrated an unprecedented & anti-democratic mass censorship campaign.

    15) When Twitter initially resisted censoring the story, it was Jim Baker who convinced them to do so (despite the FBI having known for a year the informartion was true).

    16) In December 2020, after the operation’s success and Biden’s “victory,” the FBI agents working at & with Twitter celebrated the outcome.

    17) The FBI subsequently paid Twitter $3.5 million for the staff hours expended on their influence operations.  

    18) At the time Trump was being impeached for asking Ukraine to investigate Biden’s alleged corruption in Ukraine, the FBI & IRS already knew the Bidens had indeed laundered more than $10 million from Burisma, via fake companies and dozens of bank accounts, while at the same time VP Biden had used U.S. aid as leverage in getting the Ukrainian prosecutor investigating Burisma fired.

    P.S. And that’s to say nothing of Democrats orchestrating a state-by-state campaign to change voting rules to enable the widespread adoption of voting boxes … Left-wing activist groups, funded in part by Facebook, facilitated the exploitation of these drop-off boxes on behalf of the Democratic Party. That part may not have been illegal since they simply changed the rules, but it’s especially shady since it was done alongside federal health agencies then-knowingly overstating the threat of Covid, which was used as the rationale for the change of rules in the first place.

    P.P.S. And this is just what we know despite the feds’ best efforts. Imagine how much we don’t.

    *  *  *

    And some reactions:

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    So, the next time you hear a Democrat decrying Republican efforts to dismantle democracy with their voter ID laws, or ending harvesting, consider the real threat to American democracy from the deep state. Their actions all sound very ‘insurrection-y’ to us.

    One could be forgiven for considering it ‘meddling’ and ‘collusive’, but that would be the stuff of conspiracy theorists, right?

    Tyler Durden
    Sat, 06/24/2023 – 20:00

  • California Bill Would Expand College Financial Aid To Asylum Seekers
    California Bill Would Expand College Financial Aid To Asylum Seekers

    Authored by Micaela Ricaforte via The Epoch Times,

    A California bill that would expand college financial aid to those seeking asylum passed the state Assembly and will now be heard in the state Senate.

    Students walk through Sproul Plaza on the University of California–Berkeley campus in Berkeley, Calif., on April 23, 2012. (Justin Sullivan/Getty Images)

    Currently, Cal Grant financial aid awards are available only to U.S. citizens or eligible noncitizens, such as those who possess a visa or those who are a part of the Deferred Action for Childhood Arrivals—commonly known as DACA—program.

    State Assembly Bill 888—introduced in February by Assemblywoman Sabrina Cervantes (D-Riverside)—would expand all such financial aid to immigrants who have applied for asylum and who have a valid employment authorization document and social security number.

    Under current law, asylum seekers are not eligible to receive Cal Grants if they have been in California for fewer than three years, Cervantes said in a March statement.

    The University of California–Los Angeles is seen in Westwood, Calif., on Jan. 22, 2018. (Joyce Kuo/The Epoch Times)

    Federal immigration courts can take up to four or five years to schedule an asylum hearing in California, but Cervantes said those who have a pending application for six months may obtain a social security number and work authorization, and he argued if they are able to work and participate in the economy, they should also be able to get an education.

    “However, because they and their family members often are only able to get low-paying jobs, the cost of education in California is well beyond their financial means,” she said.

    The assemblywoman noted that California recently had an influx of asylum seekers from both Afghanistan and Ukraine.

    “Among these asylum seekers are prospective college students and individuals who were attending university in their home countries who now wish to attend a California university to begin to [make] a new life for themselves,” she said.

    The fiscal impact is currently unknown, according to an Assembly floor bill analysis, because “[n]either the state’s colleges and universities nor [the California Student Aid Commission] collect data on the number of asylum-seeking students.”

     

    University of California–Irvine, in Irvine, Calif., on Sept. 25, 2020. (John Fredricks/The Epoch Times)

    The Association of Independent California Colleges and Universities, an organization representing more than 80 independent higher education institutions, expressed support in a statement submitted to the bill’s legislative file.

    “California higher education institutions play an important role in welcoming displaced students and supporting their long-term success and contribution to the state’s workforce and economy,” the organization stated.

    “A diverse student body with different lived experiences benefits everyone as students, faculty, and community members gain a greater understanding and appreciation of individuals from different backgrounds.”

    The bill has also garnered support from groups such as First Gen Empower, Harbor Institute for Immigrant and Economic Justice, John Burton Advocates for Youth, Los Angeles United Methodist Foundation, and University of California Student Association.

    It has received no recorded opposition as of June 20.

    The bill passed the state Assembly’s Higher Education Committee, its Appropriations Committee, and the Assembly floor last month, and is scheduled for a hearing in the state Senate’s Education Committee on June 28.

    Tyler Durden
    Sat, 06/24/2023 – 19:30

  • Here's Where Penny-Pinching Gen Zers Are Buying Homes
    Here’s Where Penny-Pinching Gen Zers Are Buying Homes

    Despite the worst affordability crisis in decades and a national housing shortage, individuals from Generation Z, born between 1997 and 2012, are purchasing homes. A new report reveals which cities these youngsters are attracted to the most. 

    LendingTree analyzed mortgage purchase requests across 50 major metro areas in 2022. They found Gen Zers are buying the most homes in affordable cities and avoiding expensive ones. 

    Key findings from the report show Salt Lake City had the largest share of mortgage purchase requests from Gen Zers at 22.59%. 

    “Though the average mortgage amount in Salt Lake City is higher than in many of the nation’s other large metros, it’s a hot spot for younger homebuyers, likely owing to — among other factors — its strong jobs market and a good blend of urban and rural amenities,” LendingTree analysts said. 

    Besides Salt Lake City, inexpensive Oklahoma City and Birmingham, Alabama, were next on the list of the most popular cities youngsters were purchasing homes. Indianapolis, Cincinnati, Minneapolis, St. Louis, Nashville, and Kansas City were also popular for Gen Z homebuyers.

    The least popular areas for Gen Z homebuyers, and not surprisingly, were San Francisco and New York City. Here’s the complete list: 

    These findings suggest Gen Z homebuyers are migrating to affordable metro areas. Migration trends are due to high borrowing costs and a lack of affordable housing. 

    Tyler Durden
    Sat, 06/24/2023 – 19:00

  • Money-Supply Growth Falls By Depression-Era Levels For Second Month In April
    Money-Supply Growth Falls By Depression-Era Levels For Second Month In April

    Authored by Ryan McMaken via The Mises Institute,

    Money supply growth fell again in April, plummeting further into negative territory after turning negative in November 2022 for the first time in twenty-eight years.  April’s drop continues a steep downward trend from the unprecedented highs experienced during much of the past two years.

    Since April 2021, money supply growth has slowed quickly, and since November, we’ve been seeing the money supply repeatedly contract—year-over-year— for six months in a row. The last time the year-over-year (YOY) change in the money supply slipped into negative territory was in November 1994. At that time, negative growth continued for fifteen months, finally turning positive again in January 1996. 

    During April 2023, the downturn accelerated even more as YOY growth in the money supply was at –12.0 percent. That’s down from March’s rate of –9.75 percent, and was far below April’s 2022’s rate of 6.6 percent. With negative growth now falling near or below –10 percent for the second month in a row, money-supply contraction is the largest we’ve seen since the Great Depression. Prior to March and April of this year, at no other point for at least sixty years has the money supply fallen by more than 6 percent (YoY) in any month. 

    The money supply metric used here—the “true,” or Rothbard-Salerno, money supply measure (TMS)—is the metric developed by Murray Rothbard and Joseph Salerno, and is designed to provide a better measure of money supply fluctuations than M2.

    The Mises Institute now offers regular updates on this metric and its growth. This measure of the money supply differs from M2 in that it includes Treasury deposits at the Fed (and excludes short-time deposits and retail money funds).

    In recent months, M2 growth rates have followed a similar course to TMS growth rates, although TMS has fallen faster than M2. In April 2023, the M2 growth rate was –4.6 percent. That’s down from March’s growth rate of –3.8 percent. April 2023’s growth rate was also well down from April 2022’s rate of 7.8 percent. 

    Money supply growth can often be a helpful measure of economic activity and an indicator of coming recessions. During periods of economic boom, money supply tends to grow quickly as commercial banks make more loans. Recessions, on the other hand, tend to be preceded by slowing rates of money supply growth. 

    Negative money supply growth is not in itself an especially meaningful metric. As shown by Ludwig von Mises, recessions are often preceded by a mere slowing in money supply growth. It is not necessary for the money supply to actually shrink to trigger the bust period of a boom-bust cycle.  But the drop into negative territory we’ve seen in recent months does help illustrate just how far and how rapidly money supply growth has fallen. That is generally a red flag for economic growth and employment.

    The fact that the money supply is shrinking at all is so remarkable because the money supply almost never gets smaller. The money supply has now fallen by $2.6 trillion (or 12.0 percent) since the peak in April 2022. Proportionally, the drop in money supply since 2022 is the largest fall we’ve seen since the Depression. (Rothbard estimates that in the lead up to the Great Depression, the money supply fell by 12 percent from its peak of $73 billion in mid-1929 to $64 billion at the end of 1932.)1

    In spite of this recent drop in total money supply, the trend in money-supply remains well above what existed during the twenty-year period from 1989 to 2009. To return to this trend, the money supply would have to drop at least another $4 trillion or so—or 22 percent—down to a total below $15 trillion. 

    Since 2009, the TMS money supply is now up by nearly 189 percent. (M2 has grown by 143 percent in that period.) Out of the current money supply of $19.2 trillion, $4.8 trillion of that has been created since January 2020—or 25 percent. Since 2009, $12.5 trillion of the current money supply has been created. In other words, nearly two-thirds of the money supply have been created over the past thirteen years. 

    With these kinds of totals, a ten-percent drop only puts a small dent in the huge edifice of newly created money.

    The US economy still faces a very large monetary overhang from the past several years, and this is partly why after eleven months of slowing money-supply growth, we are not yet seeing a sizable slowdown in the labor market.

    Nonetheless, the monetary slowdown has been sufficient to considerably weaken the economy. The Philadelphia Fed’s manufacturing index is in recession territory. The Empire State Manufacturing Survey is, too. The Leading Indicators index keeps looking worse. The yield curve points to recession. Even Federal Reserve staffers, who generally take an implausibly rosy view of the economy, predict recession in 2023. Individual bankruptcy filings were up 23 percent in May. Temp jobs were down, year-over-year, which often indicates approaching recession. 

    Money Supply and Rising Interest Rates

    An inflationary boom begins to turn to bust once new injections of money subside, and we are seeing this now. Not surprisingly, the current signs of malaise come after the Federal Reserve finally pulled its foot slightly off the money-creation accelerator after more than a decade of quantitative easing, financial repression, and a general devotion to easy money. As of June, the Fed has allowed the federal funds rate to rise to 5.25 percent. This has meant short-term interest rates overall have risen as well. In June, for example, the yield on 3-month Treasurys remains near the highest level measured in more than 20 years. 

    Without ongoing access to easy money at near-zero rates, however, banks are less enthusiastic about making loans. This is not uniform across the economy, however, and the credit crunch is most acutely felt among smaller businesses and middle-class households. In the latest Senior Loan Officer Opinion Survey from the Federal Reserve, researchers found that bankers believe lowered expectations for economic growth coupled with deposit outflows will lead to banks tightening lending standards. Banks have found that demand for loans has weakened as interest rates have increased and economic activity has slowed. 

    Tyler Durden
    Sat, 06/24/2023 – 18:30

  • Desperate San Fran Mayor Wants To Demolish Buildings To Revitalize Crime-Ridden Downtown
    Desperate San Fran Mayor Wants To Demolish Buildings To Revitalize Crime-Ridden Downtown

    San Francisco Mayor London Breed is desperate. She asked investors to “start re-imagining what the downtown can be” and to look past crime-ridden streets, homelessness encampments, open-air drug market, the exodus of businesses, and the commercial real estate meltdown that her administration’s failed progressive policies helped spark. 

    “I think we have to start re-imagining what the downtown can be,” Breed said at Thursday’s Bloomberg Technology Summit in San Francisco. 

    She continued: “Let’s look at what’s possible rather than dwelling on the stories of another store closing — there are a lot of people who may not even shop in those places” because of the proliferation of online shopping.

    Breed said there’s a need to convert dormant office buildings into housing, demolish buildings, and attract new business to the downtown area. And just how many buildings could the mayor convert? Well, as many as 30% of the city’s office space is now vacant — a record high. 

    She said the Westfield Mall, the largest mall in the downtown area, could be demolished, and the land used as “something completely different.” Recall weeks ago, Westfield and its partner Brookfield Properties stopped making payments on a $558 million loan tied to the mall, citing “challenging operating conditions” related to out-of-control crime. 

    Breed is desperately searching for solutions to stop the exodus of businesses and people from the metro area. She recently made a giant U-turn to fund the police after her defunding campaign backfired. 

    The mayor faces a budget deficit of $780 million that could exceed a billion dollars by 2026. The implosion of the city and the worsening CRE apocalypse might indicate no sane investor will want to touch the downtown area unless the progressives at City Hall are voted out. Voters have already booted out the city’s Soros-backed district attorney. We suspect the voters will boot out more progressives who have single-handedly transformed the once thriving metro area into a hellhole. 

     

    Tyler Durden
    Sat, 06/24/2023 – 18:00

  • Prigozhin 'Exiled' To Belarus In Exchange For Peace, Criminal Charges Dropped: What Was This All About?
    Prigozhin ‘Exiled’ To Belarus In Exchange For Peace, Criminal Charges Dropped: What Was This All About?

    Update(1735ET): This entirely bizarre slightly less than 24-hour short-lived coup attempt has just gotten even stranger, given the terms of the truce which evidently caused Evgeny Prigozhin to announce his Wagner fighter columns would turn around and go back to their bases.

    The Wall Street Journal has confirmed based on Kremlin statements that “As part of the agreement, Prigozhin will leave Russia for Belarus, and criminal charges against him will be dropped, Putin’s spokesman Dmitry Peskov said. His fighters will be allowed to sign contracts with the Russian military.”

    And Russia’s RT provides some further details as follows based on Peskov’s statement:

    “He added that Wagner’s fighters will not be persecuted, taking into account their efforts on the frontlines of the Ukraine conflict. Peskov explained that President Vladimir Putin’s team “have always respected their exploits.”

    Those PMC contractors, who refused to take part in the mutiny – and whole units did not – will be allowed to sign contracts with the Russian Defense Ministry, Peskov stated.

    Can this even be called “exile”?… given that Kremlin statements at this point aren’t even so much as using the word which has a clear punitive implication. The irony remains that one can get a much harsher punishment for mere Cannabis vape pens in the country. In summary:

    • charges dropped against Prigozhin, who will leave Russia for Belarus
    • Wagner fighters who didn’t take part in the uprising will sign contracts with the MOD
    • Wagner fighters who did take part not charged 
    • No word on potential MOD leadership changes

    What’s clear is that it does indeed look to be over, with no further immediate danger of civil conflict:

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    Sputnik is further confirming Wagner has handed HQ/bases in Rostov-on-Don back to the regular military:

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    Despite the slap on the wrist (if even), the Kremlin is still talking “tough”:

    “The plotters’ adventurist aspirations are essentially aimed at destabilizing the situation in Russia, destroying our unity and undermining Russia’s efforts to reliably ensure international security,” the Foreign Ministry said. “The mutiny plays into the hands of Russia’s external enemies.”

    “The attempted armed mutiny in our country has aroused strong disapproval in Russian society, which firmly supports President Vladimir Putin,” the Foreign Ministry said.

    Regardless the speculation has begun, and is likely to continue for the coming days and weeks, over what precisely the world just witnessed here…

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    One theory seems as good as any other at this point, again given the ultra-bizarre spectacle of the whole “march for justice” on Moscow… by convoys of heavily armed mercenaries.

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    And then there was the heavy defense ministry pressure to essentially disband Wagner amid the long-running simmering tensions and war of words:

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    There’s always the potential foreign ‘hidden hand’ theory behind any major insurrection like this, especially when it comes to a US-NATO enemy…

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    And finally, maybe Chechen leader Ramzan Kadyrov has it right: old fashioned greed and glory (which Machiavelli warned about all the way back in the 16th century). Here’s Kadyrov on Prigozin’s actions:

    “I thought that some people can be trusted. That they sincerely love their Motherland as real patriots to the marrow of their bones. But it turned out that for the sake of personal ambitions, profit and because of arrogance, people can not give a damn about affection and love for the Fatherland.”

    Perhaps the truth will eventually emerge of the events over the last 24 hours, but what’s clear is that Moscow wants to make this whole episode go away as rapidly as the crisis began, and is not even moving to arrest Prigozhin to make that happen. He will now just quietly “go away”… maybe a little vacation of sorts, into neighboring Belarus.

    * * *

    Update(1325ET): An emerging Russian state media headlinePrigozhin Agrees to Stop PMC Wagner March, Start De-Escalation After Lukashenko’s Mediation

    Belarusian president held talks with Prigozhin today. Lukashenko says that Prigozhin has agreed to “stop the movement of armed persons on the territory of Russia and to take further steps to deescalate.

    Prigozhin has reportedly accepted Lukashenka’s proposal to stop the movement of PMC Wagner, according to Russian state media TASS. Reuters is also reporting the Kremlin-backed statements. Did we just witness a 22-hour coup? All over now?

    Lavrov: Russia retains control over tactical nuclear weapons in Belarus — TASS

    According to RT’s reporting:

    Belarusian President Alexander Lukashenko announced on Saturday that he had arranged a deal whereby Wagner Group leader Evgeny Prigozhin will abandon his mutiny in exchange for “security guarantees” for his fighters.

    “Evgeny Prigozhin accepted the proposal of President Alexander Lukashenko to stop the movement of armed men of Wagner in Russia and take further steps to de-escalate tension,” read a statement from Lukashenko’s office.

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    Will Prigozhin be given safe harbor after the treason charge?

    As for the Belarus-related ceasefire deal, there’s been no initial confirmation from Wagner Telegram or media channels on a “done deal”. There are conflicting reports that peace negotiations might be unsuccessful. 

    But Reuters is reporting, Prigozhin in audio message: To avoid bloodshed we are returning our convoys to bases.

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    * * *

    Update(1120ET): Wagner Group is making a move on the Russian capital, with multiple reports and videos now confirming Wagner convoys are headed toward Moscow, going north from Rostov region. At the same time, Chechen groups loyal to Putin are now sending their own armed convoys toward Rostov-on-Don, which has several key installations under the control of Yevgeny Prigozhin, accused of ‘treason’ by the Kremlin.

    Reuters is reporting, “Mutinous Russian mercenary fighters barreled towards Moscow on Saturday after seizing a southern city overnight, with Russia’s military firing on them from the air but seemingly incapable of slowing their lightning advance.” Little to no significant resistance is being observed while Wagner convoys blow through makeshift roadblocks. Some observers say Wagner fighters have been spotted within a mere few hours outside the capital.

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    “Reuters saw troop carriers and a flatbed truck carrying a tank careening past the city of Voronezh more than half way to Moscow, where a helicopter fired on them,” the outlet noted. “But there were no reports of the rebels meeting any substantial resistance on the highway.”

    The Lipetsk governor has also confirmed armed Wagner forces are rapidly moving across the region, advancing in the direction of Moscow. While the Russian government erects barriers, it’s unclear which military units have been mustered as Prigozhin threatens the capital.

    Along with roadblocks of construction trucks and 18-wheelers, there are reports suggesting roads are being destroyed to block the insurrectionists’ progress:

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    Per regional reports:

    NEXTA, an independent media outlet founded in Belarus that covers news in eastern Europe and Russia, reported that authorities were destroying the main roads in the Lipetsk region to keep Wagner Group tanks and vehicles from approaching Moscow. Other sources have published similar videos of excavators tearing up roadways.

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    Notes on recent updates, and a word of caution, over the last two hours via Mario Nawfal:

    • Worries of the Russian Nuclear Warheads moved to Belarus weeks ago 
    • Wagner forces continue their advance to Moscow with limited strikes by the Russian Air Force 
    • Reports of Putin and other officials leaving Moscow and heading to Saint Petersburg based on the movement of Military VIP aircrafts. TASS, which is Gov controlled media outlet, reported that Putin is heading to Saint Petersburg, but Putin’s Press Secretary refuted those reports. It is very unusual and rare to see such a disconnect between TASS and the Kremlin.

    MY THOUGHTS: 

    • This is a military coup, we can no longer dispute this, and things are moving VERY rapidly and are not looking good for Putin. 
    • We are seeing limited military clashes, showing likely defections among Russian forces 
    • Almost EVERYTHING right now can’t be verified and should be taken with a grain of salt

    Meanwhile, clashes could be imminent between Chechens loyal to Putin and Wagner mercenaries, which will be a nightmare scenario for surrounding civilians in the Rostov region…

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    Unverified reports that Wagner has begun arrests of Chechen and other military forces…

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    The below map purports to show Wagner’s progress north on Saturday:

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    In his first speech addressing the crisis of Wagner’s armed rebellion on Saturday morning, Russian President Vladimir Putin has vowed to crush what he called Yevgeny Prigozhin’s “betrayal”. Southern governors, for example Alexander Gusev who oversees the city of Voronezh, have since confirmed armed clashes between regular military forces and Wagner fighters within Russian territory. He described necessary “combat measures” as part of counter-terror operations in the southern region.

    What was unclear by Friday night is now becoming very clear as of Saturday: all hell is breaking loose in this first significant moment in over two decades of Putin’s iron grip on power being threatened by armed mutiny. “Any internal turmoil is a deadly threat to our statehood and to us as a nation. This is a blow to Russia and to our people,” Putin said in the televised speech. “This battle, when the fate of our people is being decided, requires the unification of all forces.”

    In Rostov-on-Don military command HQ. Via Wagner Telegram/Reuters

    “What we have been faced with is exactly betrayal. Extravagant ambitions and personal interests led to treason,” Putin said, referring to Prigozhin, head of the most powerful private military firm in Russia. “All those who consciously stood on the path of betrayal, who prepared an armed rebellion, stood on the path of blackmail and terrorist methods, will suffer inevitable punishment, before the law and before our people,” Putin vowed.

    He further in fiery language denounced the “stab in the back of our country and our people,” after Prigozhin the day prior declared war against the defense ministry, urging all Russians to join his 25,000 fighters as they seek to “stop” and overthrow Defense Minister Sergei Shoigu and other top commanders.

    In response to Putin’s blistering speech, Prigozhin released a Telegram statement calling the president “deeply mistaken” regarding his assessment of betrayal of the motherland, refusing to surrender. The audio message released by his press service said as follows

    “Regarding the ‘betrayal of the motherland,’ the president is deeply mistaken. We are patriots of our Motherland, we fought and are fighting, all the fighters of the PMC Wagner.”

    “And no one is going to turn themselves in at the request of the president, the FSB or anyone else,” he added.

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    This marks the first time he’s directed criticism precisely in response to Putin, as before he appeared to carefully avoid direct references to the Russian leader in his denunciations of military planning and Kremlin decision-making.

    Below summarizes fast-moving events of the last few hours:

    • Putin 5 min speech: accuses Prigozhin of betrayal, vows decisive action 
    • Wagner controls facilities in Rostov & Voronezh, M4 highway disrupted. Rebellion continues 
    • Chechen Kadyrov mobilizes to help Putin. Russia FM warns of ‘civil strife’

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    Civilians have reportedly been ordered away from all military command centers in the now Wagner-held city center of Rostov-on-Don.

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    The Wagner chief in his response harped on the familiar theme of the defense ministry’s “corruption, deceit, and bureaucracy” and emphasized that his own fighters are patriotic and doing their duty.

    “When we were told that we were at war with Ukraine, we went and fought. But it turned out that ammunition, weapons, all the money that was allocated is also being stolen, and the bureaucrats are sitting [idly], saving it for themselves, just for the occasion that happened today, when someone [is] marching to Moscow,” he said.

    It is the second time since Russian authorities (the FSB) declared Prigozhin was engaging in ‘armed munity’ that the Wagner chief declared a “march of justice” on Moscow. As for the capital (and other major cities), the military and security services have been ordered by the Kremlin to secure the streets and beef up their presence.

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    Crucially, Wagner has declared control of the military command center and bases in the southern city of Rostov-on-Don, a claim which some emerging videos appear to give some degree of authentication to…

    “Wagner chief Yevgeny Prigozhin, once a close Putin ally, said his troops had taken control of the military command centre and bases in the southern city of Rostov-on-Don, the nerve centre of Russia’s offensive in Ukraine, and vowed to topple Moscow’s top military leaders,” AFP is noting.

    The fight is on, and could spread further north, engaging political centers of the country:

    Further north, on Wagner’s possible route towards Moscow, the governor of Russia’s Voronezh region said the armed forces had launched a “counter-terrorist operation” to suppress the revolt. A fuel depot on Voronezh city was on fire, he said.

    The FSB security service accused Prigozhin of attempting to launch a “civil conflict” and urged Wagner fighters to detain him.

    Russian police have moved against Wagner’s headquarters in St. Petersburg, where things have been largely without incident thus far:

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    Active fighting, even including with air power, has erupted as Wagner convoys seek to make their way north, deeper into Russia…

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    Meanwhile, this will without doubt be a huge blow to the morale of both Russian troops and Wagner fighters alike along the frontlines inside Ukraine. It’s as yet unclear the degree to which Wagner has withdrawn from the Eastern Ukraine theatre, though it’s now been confirmed that Wagner forces had marched into Rostov overnight.

    Kiev will smell a grand ‘opportunity’. It along with its Western backers are closely monitoring, with Ukraine officials saying this “rebellion” is a “sign of the collapse of the Putin regime.”

    “The internal Russian confrontation between the leader of the so-called Wagner PMC Prigozhin and the military and political leadership of the aggressor state is a sign of the collapse of the Putin regime,” a statement by the Defense Intelligence of Ukraine said.

    “First of all, we must understand that this is an internal Russian conflict and confrontation which are a direct consequence of the Putin regime’s criminal military aggression against Ukraine,” the statement cited in CNN added.

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    It must be remembered that these shocking events which threaten to unleash chaos within Russia come at a moment that by many accounts Ukraine’s counteroffensive appeared to be failing. President Zelensky himself at the start of the week had conceded a “slower than desired” start to the offensive. But now this could breath new life into it amid reports Ukraine is taking the opportunity to assault front lines. 

    Mykhailo Podolyak, an adviser to President Zelensky, told a Saturday press conference: “The launch of the Ukrainian counteroffensive has finally destabilized the Russian elites, exacerbating the internal split that emerged after the defeat in Ukraine.” Time will tell if Russian commanders can keep their frontlines unified even as things crumble with the Wagner situation.

    * * *

    Below are key excerpts from Putin’s Saturday speech vowing to crush the Wagner rebellion, as translated and compiled by state-run RT:

    Importance of unity

    President Putin argued that “Russia is today waging a grueling fight for its future,” facing off with the “neo-Nazis and their masters.” He went on to stress that “essentially the entire might of the West’s military, economic and information machine” is being directed against the country.

    This battle, when the fate of our people is being decided,” calls for national unity and consolidation, Putin said in his address. According to the president, all internal conflicts and bickering must be put aside at present as “our external enemies can and use them to undermine us internally.

    The Russian head of state emphasized that any actions driving a wedge between Russians are nothing short of “backstabbing of our country and our people.

    Bitter history lessons

    Putin reminded Russians that a similar scenario played out in the country in 1917, when it was in the middle of World War I. He recounted how “intrigues, bickering, politicking behind the army’s and the people’s back” led to the “collapse of the state,” and the “tragedy of the Civil War.

    Russians were killing Russians, brothers were killing brothers, while various political adventurers and foreign powers were capitalizing on it,” the president said.

    Putin vowed to prevent this from happening as well as to defend Russia and its people, “including from internal mutiny.

    Nature of the threat

    In his address, Putin clearly labelled the PMC coup attempt as a “betrayal.” He cited “enormous ambitions and personal interests” of certain individuals as the reasons behind this “betrayal of their country and its people.” He went on to accuse those responsible, without naming Prigozhin in particular, of turning their back on the joint military cause in Ukraine and the memory of the fallen fighters.

    If successful, the coup would lead to “anarchy and fratricide,” resulting, in the long run, in Russia’s “defeat” and “capitulation,” according to Putin.

    The president characterized “any internal mutiny” as a death threat to the Russian state and nation. The president pledged to take “tough measures” against the mutineers, who have “willingly entered the path of betrayal” and prepared “armed insurrection.

    Those responsible will be brought to account before the Russian people, the president assured the public.

    Tyler Durden
    Sat, 06/24/2023 – 17:35

  • California Drought Is Over, Major Reservoirs Overflowing
    California Drought Is Over, Major Reservoirs Overflowing

    Authored by Sophie Li via The Epoch Times (emphasis ours),

    The historic barrage of storms this winter offered some breathing room for California’s extreme dry conditions, with 95 percent of the state now reported to be out of drought, according to the newest drought monitor map, from the National Oceanic and Atmospheric Administration and Climate Prediction Center, released June 13.

    This aerial combination photo created on April 17, 2023, shows Lake Oroville in Oroville, Calif., on Sept. 5, 2021 (top), and on April 16, 2023 (below). (Josh Edelson/AFP via Getty Images)

    The update showed that now only about 5 percent of the state is in “moderate drought” and 27 percent is considered “abnormally dry.” Last year, the state was almost in 100 percent moderate-to-exceptional drought.

    (Courtesy of the U.S. Drought Monitor)

    However, water experts say there is far more work ahead to prepare for future dry years.

    “This one wet winter was not able to recharge our groundwater basins,” Darcy Burke, board director of Elsinore Valley Municipal Water District told The Epoch Times. “Water needs to slow down, needs to stay in place, and needs to slowly percolate through. We need more storage.”

    According to Burke, over 26 million-acre-feet of water—enough for 75 million households—had to be released into the ocean between October and May this year.

    Reservoirs are full, she said, and some water has been lost that was needed for other purposes.

    We have no place to put it,” she said. “[Lake] Oroville is full and it’s spilling. All the excess water … is going off the spillway not generating electricity.”

    In an aerial view, Lake Oroville is seen at 100 percent capacity in Oroville, Calif., on June 15, 2023. (Justin Sullivan/Getty Images)

    Water Flushed to Ocean as Reservoirs Overflowing

    Lake Oroville, California’s second-largest reservoir, reached 100 percent capacity on June 6, with several others following, according to the California Department of Water Resources.

    In contrast, in January, among the state’s 17 major reservoirs, only its smallest—the Cachuma Reservoir northwest of Santa Barbara—was nearly full, according to the water department. The rest were partially filled, ranging from about 30 to 80 percent.

    According to the department, aging facilities made water storage and moving it through pipelines, canals, or ferries inefficient.

    But some say the winter’s water was not stored because it was flushed to the ocean to help replenish some endangered fish species, like the Delta smelt.

    It’s a political problem,” Don Jackson, an almond farmer and a water board member of Kern County, said on a recent episode of EpochTV’s California Insider. “We’re flushing all the water out … instead of sending it to the people—which the aqueduct system was built for.”

    California’s major reserviors’ water levels as of June 21, 2023. (Screenshot via California Department of Water Resources)

    Farmland Flooded but Pumping Still Restricted

    A major part of California’s economy is agriculture, which generates over $50 billion in annual revenue and employs over 420,000 people, according to a study by the Public Policy Institute of California, a nonprofit research institution based in San Francisco.

    While the rainfall eased the drought, it also flooded land, which is still not able to be used, said Burke from Elsinore Valley Municipal Water District.

    Additionally, with so much flooded land, some dairy farmers were left with no place for their livestock.

    There’s no Motel Six to take a cow,” she said. “Tens of thousands of dairy cattle were either sold or were [slaughtered for food] because there was no place to put them.”

    Read more here…

    Tyler Durden
    Sat, 06/24/2023 – 17:30

  • Washington State Joins Texas Mandating Tesla Charging Plug Adoption
    Washington State Joins Texas Mandating Tesla Charging Plug Adoption

    Tesla, Inc. scored a major win on Friday as Washington State plans to require electric vehicle charging companies to include both Tesla’s standard, otherwise known as The North American Charging Standard (NACS) and the Combined Charging System (CCS) at charging stations if they want to join the state program to electrify highways using government dollars, according to Reuters. Washington is the second state this week, following Texas, to require charging stations to offer NACS. 

    “I’m actually really happy about NACS and how finally automakers are gearing towards one standard. We want to provide access to as many makes and models as possible.

    “It hasn’t necessarily been tested and certified for other auto manufacturers, so we want to make sure it’s going to work but we are planning to require NACS at our state funded and federally funded sites in the future,” said Tonia Buell, alternative fuels program manager at Washington state’s Department of Transportation. 

    Buell said state officials are still determining “the right mix of NACS chargers based on current federal requirements.” Federal rules dictate EV charging stations that receive government money must include at least four CCS chargers. Buell said the state might require at least two chargers to work with NACS or all chargers. 

    On Tuesday, Texas was the first state to announce vehicle charging companies to include NACS if they want to tap government money for EV stations. Further cementing NACS as the possible charging standard for EVs are GM, Ford, and Rivan, who all announced they’re switching from CCS to NACS. 

    The decision by Washington State, Texas, GM, Ford, and Rivan to adopt NACS is a move that goes against the Biden administration’s efforts to make CCS the dominant charging standard nationwide. 

    EV blog InsideEVs expects “CCS1’s death is likely to be slow. After all, carmakers and charging companies spent over a decade establishing CCS1 networks across the US.” 

    Tesla has opened up its 2,000 Supercharger locations to other EV owners. This means more demand for NACS, which might create bottlenecks of longlines at chargers across the Supercharging network because of increased demand. Plus, if there’s more demand, this also indicates higher charging prices at Superchargers. 

    A quick search on Amazon yields numerous EV charging companies that make at-home 240V CCS chargers discounting their products. 

    We suspect more states will join Washington and Texas. 

    Tyler Durden
    Sat, 06/24/2023 – 17:00

  • Taxation Without Representation Meets The 21st Century
    Taxation Without Representation Meets The 21st Century

    Authored by Robert Alt via RealClear Wire,

    Who is authorized to tax the income of a commuter who doesn’t commute? This question—born of the pandemic and currently pending before the Supreme Court of Ohio—could be coming to a tax bill near you, and soon.

    Following the outbreak of Covid-19 in 2020, government orders forced millions of employees to work from home instead of at their usual offices. These orders accelerated a trend which had already begun toward remote and hybrid work and—three years later—is all but entrenched.

    While some companies have begun requiring employees to return to the office, the outdated ways of packing folks into tight cubicles in downtown high rises will never be the same.

    Benjamin Franklin famously observed that “in this world nothing can be said to be certain, except death and taxes,” so it should come as little surprise that along with the changes in assigned duty stations came a corresponding attempt by government authorities to prove old Uncle Ben right.

    Most Americans pay state and local income taxes based upon where they reside. Accordingly, the shift to remote work made no difference to their tax liability. But some employees are subject to commuter taxes, which are assessed based upon where the work itself is performed.

    Commuter taxes raise their own public policy concerns—after all, commuters have no say in how those tax dollars are used because they cannot vote in those jurisdictions. The antiquated justification for commuter taxes is that employees receive some tangible benefits while they are physically in the city, i.e., if an employee has a medical emergency while at work, it would be the city’s emergency services that would respond.

    But what happens when commuters are no longer commuting to those cities?

    In addition to the city no longer providing tangible services to the now non-commuting employee, if that same employee has a heart attack while working from home, it is the safety services in the residential jurisdiction that would respond and should therefore receive the revenue.

    Taxing authorities for the office locations have quickly run into a legal problem: Governments may tax only people or property over which they have jurisdiction. Cities or states can tax their own residents for any income earned and nonresident commuters only for work performed within their jurisdictions.

    This limitation makes sense. Otherwise a cash-hungry government could find tenuous pretextual grounds to tax nonresident income, violating basic notions of due process, and creating the risk that the same income would be taxed multiple times by different governments.

    When Massachusetts issued a rule requiring employees who had previously worked in Massachusetts but were now working elsewhere due to Covid-19 to pay Massachusetts income taxes anyway, its neighboring New Hampshire sensibly filed a case in the United States Supreme Court on behalf of its citizens who were neither living nor working in Massachusetts. Unfortunately, taxpayers got no clarification because the Supreme Court declined to hear New Hampshire’s complaint, leaving Massachusetts’ unconstitutional money grab in place for the time being.

    As Justices Thomas and Alito lamented, the court should have taken the case. The decision not to take it does not set a legal precedent, and—accordingly—we do not know how the Supreme Court would rule in such a case. All we can say for sure is that Massachusetts has done a full 180 since the Revolution and now quite ironically favors taxation without representation.

    Massachusetts was not alone in seeking to tax beyond its jurisdictional borders either.

    Ohio, for example, allowed municipalities to tax the income of workers who do not live in—and in fact were legally prohibited from working in—those same municipalities under Ohio’s stay-at-home order. The bill absurdly “deemed” all work performed elsewhere during the emergency order to have been performed at the employee’s principal place of work for the purposes of levying income taxes on it. If you stepped foot in your office, you were subject to being arrested and charged with a crime, but they were still going to pretend that you were in your office so as to tax you all the same. George Orwell, call your editor.

    The Buckeye Institute challenged a half dozen cities across Ohio in court for these actions—most recently Cincinnati in Schaad v. Alder, which had its oral arguments before the Ohio Supreme Court on March 1.

    Since 1950, the Ohio Supreme Court has consistently held that the Constitution’s Due Process Clause allows municipalities to tax only two types of income: income earned by the municipality’s own residents and income earned by nonresidents for work physically performed within the municipality’s geographical borders.

    These avaricious cities’ brazen efforts to collect income taxes from nonresidents who did not work in their jurisdictions are unconstitutional, deprive smaller municipalities of revenue owed to them, and violate the easy-to-follow real estate maxim—location, location, location. Cincinnati may tax work performed by nonresidents within its own city limits, but not work performed by nonresidents in Cleveland, Columbus, Toledo, or even where Mr. Schaad did his job—in his hometown of Blue Ash.

    Considering that some 41 out of 50 states levy income taxes combined with the dramatic rise in remote work arrangements, which make it easier and more common for employees living in one city or state to work for an employer based in another city or state, all eyes should be on the Ohio Supreme Court as we await its decision in this case. How it rules in Schaad v. Alder will very likely set a precedent for how the income of remote workers nationwide is taxed going forward.

    Robert Alt is the President and CEO of The Buckeye Institute in Columbus, Ohio, and the attorney who argued the Schaad v. Alder case before the Ohio Supreme Court.

    Tyler Durden
    Sat, 06/24/2023 – 16:30

  • Fauci's Flip-Flopping Lab-Leak Denier Subpoenaed After Stonewalling Congress On 'Proximal Origin'
    Fauci’s Flip-Flopping Lab-Leak Denier Subpoenaed After Stonewalling Congress On ‘Proximal Origin’

    A scientist who originally told Dr. Anthony Fauci that Covid-19 looks “potentially” engineered, only to flip-flop days later and co-author a report prompted by Fauci “disproving” the lab-leak hypothesis, has been subpoenaed by the House Select Subcommittee on the Coronavirus Pandemic.

    Dr. Kristian Anderson was slapped with the Congressional subpoena last week, according to Subcommittee Chairman Brad Wenstrup (R-OH), who announced on Friday that “Andersen played a pivotal role in potentially suppressing the lab leak hypothesis, and Americans deserve to know why this happened, who was involved, and how we can prevent the intentional suppression of scientific discourse during a future pandemic.”

    Anderson notably emailed Fauci on Jan. 31, 2020 – where he said that Covid-19 had “unusual features” that “(potentially) look engineered,” and that other scientists “all find the genome inconsistent with expectations from evolutionary theory.”

    The next day, Fauci and his former boss, NIH Director Dr. Francis Collins, and at least eleven other scientists participated in a conference call during which several of them warned that COVID-19 may have leaked from a lab in Wuhan, China – may have been intentionally genetically manipulated.

    Three days after the call, four participants from the call (Andersen, University of Sydney virologist Edward Holmes, Tulane School of Medicine virologist Robert Garry, University of Edinburgh virologist Andrew Rambaut and Columbia University virologist Ian Lipkin) seemingly discarded their concerns over a lab-leak, and drafted “The Proximal Origin of SARS-CoV-2,” which they sent to Fauci and Collins.

    Also heavily involved (yet not credited) was Dr. Jeremy Farrar, the current Chief Scientist at the World Health Organization.

    On June 16, Anderson testified before the House subcommittee, where he told them that he and the co-authors had communicated primarily via Slack while drafting the paper. He also admitted that he had not provided all messages relevant to the subcommittee’s inquiry because not all participants of the Slack discussions approved of their release.

    According to Wenstrup, the subpoena was issued to compel the production of said Slack messages

    “We are following the breadcrumbs of a COVID-19 cover-up straight to the source,” he said.

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

    More via the Epoch Times:

    Wenstrup said the authors “may have possessed conflicts of interest for supporting a zoonotic origin of COVID-19.”

    A copy of the subpoena seen by The Epoch Times states that Andersen will be required to provide all Slack documents and communications dated from Jan. 1, 2020, to June 23, 2023, regarding the origins of COVID-19, which referenced former National Institute of Allergy and Infectious Disease Director Dr. Anthony Fauci and former National Institutes of Health (NIH) Director Dr. Francis Collins, among others.

    Fauci’s Alleged Role in Drafting Study

    The subcommittee issued a memo (pdf) on March 5 saying that it uncovered new email evidence suggesting that Fauci “prompted” the drafting of the study.

    The memo detailed a conference call between Collins, Fauci, and at least 11 other scientists in early February 2020, about a week after the first Chinese Communist Party (CCP) virus—commonly known as the novel coronavirus—case was confirmed in the United States.

    Collins, Fauci, and others were warned in the Feb. 1, 2020, call about the possibility that the virus may have leaked from a laboratory in Wuhan, China, in late 2019, according to the memo.

    Citing internal emails, the committee asserted that Fauci “prompted” Andersen to write the paper and that it was designed “to ‘disprove’ any lab leak theory.”

    The Proximal Origin paper’s abstract suggested that the virus may have emerged via Malaysia pangolins because they “contain coronaviruses similar to SARS-CoV.”

    “The presence in pangolins of [a virus’ receptor-binding domain] very similar to that of SARS-CoV-2 means that we can infer this was also probably in the virus that jumped to humans,” the paper reads.

    But the March 5 memo, citing internal emails, stipulated that Anderson “did not find the pangolin data compelling” and only wrote the paper after being “prompted” by Fauci, Collins, and the others.

    “Privately, Dr. Andersen did not believe the pangolin data disproved a lab leak theory despite saying so publicly. It is still unclear what intervening event changed the minds of the authors of Proximal Origin in such a short period of time,” the House committee stated.

    Jack Phillips contributed to this report.

    Further reading:

    ZeroPointNow
    Sat, 06/24/2023 – 16:00

  • Washington's Bias For Continuous Inflationism
    Washington’s Bias For Continuous Inflationism

    Authored by MN Gordon via EconomicPrism.com,

    This week Federal Reserve Chair Jerome Powell delivered his semiannual testimony to Congress.  A main feature of the discussion was the status of rate hikes and the fight against inflation.

    In short, Powell’s inflation fight isn’t over.

    Core CPI, which excludes food and fuel prices, is increasing at an annual rate of 5.3 percent.  Similarly, core personal consumption expenditure (PCE) prices are up 4.7 percent from a year ago.

    Thus, a federal funds rate of 5.25 percent isn’t enough to contain rising prices.  Ideally, a rate on the order of 7 to 7.25 percent is needed to do the trick.

    After its recent FOMC meeting, the Fed signaled two additional rate hikes this year.  As part of this week’s testimony, Powell validated this… remarking it was a “pretty good guess”.

    So, why pause in the first place?

    The Silicon Valley Bank and First Republic Bank fiascos in March are a very small part of a much larger issue.  Rapid interest rate hikes have left poorly prepared banks unable to adequately compensate depositors.

    The 6-Month Treasury Bill is yielding 5.4 percent.  Many savings accounts are paying a dividend of less than 0.05 percent.

    At this point, banks cannot compete with short-term Treasuries.  This is because the bonds many short-sighted banks purchased several years ago, when interest rates were near zero, are entirely underwater.

    Remember, bond prices move inverse to interest rates.  So, banks find themselves in a situation where they are unable to sell bonds to payout depositor withdrawals without suffering massive losses.

    And because the banks cannot compete with short-term Treasury yields, depositors are incentivized to pull their savings and park it in Treasuries.  This puts the solvency of banks in question.

    As the failure of SVB showed, it doesn’t take much these days to trigger a digital bank run.

    Inflationary Bias

    The Fed’s hawkish rate pause is a temporary gift to banks.  It buys them a little time to get a handle on their capital positions.  Though it’s really nothing more than a token nod.

    What can a bank really do to rebalance its bond holdings in a month’s time?

    The rate pause, in reality, only serves to delay the inevitable banking crisis.  But that’s not all…

    The rate pause also comes at the risk of greater price inflation.  Interest rates, while much higher than in early 2022, are still accommodative.  Commercial banks can still use the Fed’s discount window to obtain credit at a price that’s less than the core CPI rate.

    This is partly why the major stock market indexes are making a concerted run at their record highs.  So, too, this is partly why residential real estate prices in many cities are still largely unaffordable.  Rate hikes have done little to contain asset price inflation.

    By pausing, the Fed’s taking a risky gamble.  Should consumer price inflation push higher, the supposed hawkish rate pause will go down as another great big Fed policy mistake.

    Moreover, to correct this mistake, the Fed will have to jack up interest rates even higher than if it hadn’t paused in the first place.

    Should we expect anything different?

    The Fed’s latest actions are consistent with its historical inflationary bias.  Remember, the Fed has an inflation target of 2 percent.  By this, it deliberately promotes the continuous increase in prices.

    This inflationary bias is based on the belief that deflation is more disruptive to economic stability than inflation.  So, out of utmost caution, and to keep the government coffers full, central bankers error on the side of inflation.

    BOGO Offers

    Deflation, by definition, means a general reduction of prices.  As opposed to inflation, deflation allows consumers to buy more goods or services tomorrow with the same money they have today.

    When deflation takes hold, savvy consumers will delay purchases in anticipation they can buy more for less in the future.  This leads to supply overhangs, which puts further downward pressure on prices.  BOGO (buy one get one free) offers become necessary to move product.

    With respect to the cycle of deflation, lower spending leads to less income for businesses and producers.  This, in turn, leads to less production, worker layoffs, higher unemployment, and GDP contraction.  This all, again, leads to less spending as the cycle of deflation progresses.

    Rising unemployment and contracting GDP are also a great big fear for populist politicians who want to get reelected.  For example, at this week’s Fed testimony, Maxine Waters, the ranking member of the House Financial Services Committee, gave Powell the following advice:

    “I caution against any approach in monetary policy that ignores the Fed’s maximum employment mandate and results in a recession with millions of people losing their homes and jobs.”

    Of course, the real impacts of the cycle of deflation are on leveraged businesses and individuals, and credit markets.  As asset prices deflate, along with profits and incomes, the ability to service existing debt becomes harder and harder.  This leads to mass bankruptcies.

    Deflation is problematic for lenders and bankers and can push them to insolvency.  It can also lead to a financial crisis, breakdown in the credit market, and an economic recession or depression.

    Washington’s Bias for Continuous Inflationism

    Nonetheless, deflation isn’t something to be feared.  In fact, it is a certain aspect of the business cycle.  And a moral feature of the economy.

    For individuals and businesses who have been prudent with their finances, deflation is a boon.  They can live better at a lower cost.

    To the contrary, those who make reckless decisions during the inflationary boom suffer the greatest consequences during the bust.  They find themselves unable to pay their debts.  They get wiped out.

    Yet when central bankers attempt to forestall deflation with persistent inflation, they merely magnify the risks, price distortions, and the eventual depressions.  And when Washington steps in with bailouts galore, it harms innocent and responsible people by socializing the losses.

    This is all consistent with the inflationary bias of central bankers and politicians.

    Moderate inflation may be perceived as being pleasant.  Over time, debt obligations are lessened.  Annual wage increases, for instance, greatly reduce the burden of a monthly mortgage payment over the life of a 30-year fixed-rate home loan.

    The problem, however, is that for inflation to continue its stimulative effect, it must continue at a faster and faster rate.  And, ultimately, a bias for continuous inflationism leads to much greater harm.

    While an individual’s debt burdens may be lessened over time.  The debt burdens throughout the economy, as asset prices inflate faster than wage increases, become greater.

    As things progress, the only means of preventing a collapse is by supplying more and more inflation, in the form of artificially cheap credit, greater and greater amounts of debt, and outright money printing.

    Most people have no clue what’s going on…or what’s coming.

    Enjoy the relative stability while it lasts.

    *  *  *

    Like this article?  If so, please Subscribe to the Economic Prism.

    Tyler Durden
    Sat, 06/24/2023 – 15:30

  • Almost A Third Of America's Homeless Population Lives In California, Study Finds
    Almost A Third Of America’s Homeless Population Lives In California, Study Finds

    Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

    California has the largest number of people experiencing homelessness in the United States, accounting for nearly a third of the country’s homeless population, according to a recent study conducted by the University of California, San Francisco (UCSF).

    A person stands in front of a homeless encampment under I-880 in Oakland, Calif., on May 26, 2022. (Cynthia Cai/NTD Television)

    More than 171,000 people experience homelessness daily in California, two times more than the next highest state,” the UCSF’s California Statewide Study of People Experiencing Homelessness (CASPEH) study report (pdf) said. “While 12 percent of the overall United States population lives in California, 30 percent of the nation’s homeless population and half the nation’s unsheltered population (those living outside, in vehicles, or in places not meant for human habitation) reside here.”

    The report, released on June 20, shatters a common myth about homelessness in California—that many of these people come from outside the state. It points out that “people experiencing homelessness in California are Californians.” Nine out of ten respondents had lost their last housing in the state. Meanwhile, 75 percent of participants lived in the same county where their last home was located.

    High costs and homelessness were found to have left the participants “vulnerable to homelessness.” In the six months prior to becoming homeless, the median monthly household income of the respondents was found to be just $960.

    “Twenty-one percent of leaseholders cited a loss of income as the main reason that they lost their last housing. Among non-leaseholders, 13 percent noted a conflict within the household, and 11 percent noted not wanting to impose.”

    The survey respondents said that financial support could have prevented their homelessness, with 70 percent saying that a monthly rental subsidy of $300 to $500 would have ensured they had a roof over their heads.

    Eighty-two percent believed a one-time payment of $5,000 to $10,000 could have ensured they did not become homeless. Eighty-nine percent cited housing costs as a barrier to re-enter permanent housing.

    The study was conducted among nearly 3,200 homeless people between October 2021 and November 2022, with 365 people recruited for in-depth interviews.

    Poor Government Policies and Funding Oversight

    California Gov. Gavin Newsom speaks during the Milken Institute Global Conference in Beverly Hills, Calif., on May 2, 2023. (Patrick T. Fallon/AFP via Getty Images)

    The CASPEH report comes as California Gov. Gavin Newsom recently admitted in an interview that his efforts to curb homelessness in the state had not yielded results.

    “This state has not made progress in the last two decades as it relates to homelessness because housing costs are too high, our regulatory thickets are too problematic, localism has been too impactful—meaning people locally are pushing back against new housing starts and construction,” Newsom said.

    In February this year, California’s Interagency Council on Homelessness released a report detailing the massive amounts of money the state spent between 2018 and 2021 on the matter.

    The report points out that the state spent close to $10 billion during this three-year period and provided services to over 571,000 people, with each year servicing more homeless people than the previous. But despite this spending, most of these people remained homeless.

    In 2022, Los Angeles in California was the city with the largest homeless population in America, according to USA Facts. From 2011 to 2022, the city’s homeless population rose from 39,000 to 70,000.

    In an interview with The Epoch Times, Alex Villanueva, former Los Angeles County Sheriff, blamed the crisis on homelessness being a profitable industry for various individuals and organizations. “They’re not doing anything about it because the homeless industrial complex is alive and well,” he said.

    According to Villanueva, many nonprofits receive funding from counties to resolve the homelessness issue. However, there are no clear guidelines on how such funding ought to be utilized.

    “There’s no governance, there’s no oversight, there’s no accountability on the results. [The county] just keeps shoveling money at them, and the problem keeps getting worse and worse,” he said.

    Aging Homeless Population, Physical and Mental Crisis

    The CASPEH report found that the homeless population in California is “aging,” with the median age of study participants being 47 years.

    Thirty-nine percent of participants were found to be in their first episode of homelessness. Over a third met the federal criteria for chronic homelessness. The median length of an individual’s homelessness was found to be 22 months.

    Physical and sexual victimization throughout the life course was common,” the study noted. “Nearly three quarters (72 percent) experienced physical violence in their lifetime; 24 percent experienced sexual violence … The majority (82 percent) reported a period in their life where they experienced a serious mental health condition.”

    To cope with homelessness, many participants have resorted to drugs and alcohol, the study found. “Almost one-third (31 percent) reported regular use of methamphetamines, 3 percent cocaine, and 11 percent non-prescribed opioids. Sixteen percent reported heavy episodic drinking.”

    According to the survey, most of the participants belonged to three racial groups—whites making up 27 percent, followed by blacks and Latinos with 26 percent each.

    Tyler Durden
    Sat, 06/24/2023 – 14:30

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Today’s News 24th June 2023

  • Escobar: The Greater Eurasia Project Will Replace The 'Rules-Based Order'
    Escobar: The Greater Eurasia Project Will Replace The ‘Rules-Based Order’

    Authored by Pepe Escobar via The Cradle,

    If you’re counting on Asia’s many new power centers to compete and clash – don’t. The Greater Eurasia Partnership is set to integrate them all – from the SCO, EAEU, and BRICS, to emerging new currencies – in order to replace the ‘rules-based order.’

    On July 4, at a New Delhi summit, Iran will finally become a full member of the Shanghai Cooperation Organization (SCO).

    That will be one of the key decisions of the summit, held via video-conference, along with the signing of a memorandum on the path by Belarus to also become a member state.

    In parallel, Russian Deputy Prime Minister Alexei Overchuk has confirmed that Iran and the Russian-led Eurasian Economic Union (EAEU) should sign a free trade agreement (FTA) by the end of 2023.

    The FTA will expand an interim deal that already lowers customs duties on hundreds of categories of goods.

    Russia and Iran – two key poles of Eurasia integration – have been getting closer and closer geoeconomically since the west’s sanctions tsunami that followed Russia’s February 2022 Special Military Operation (SMO) in Ukraine.

    The EAEU – as much as the SCO and BRICS – is on a roll: FTAs are expected to be clinched, from middle to long term, with Egypt, India, Indonesia, and the UAE.

    Overchuck admits negotiations may be “very difficult” and “take years,” considering “the interests of all five EAEU member states, their businesses, and their consumers.” Yet despite the obvious complexities, this high-speed rail geoeconomic train has already left the station.

    This way for a SWIFT exit

    In a parallel track, the members of the Asian Clearing Union (ACU), during a recent summit in Iran, decided to launch a new cross-border financial messaging system this month as a rival to the western-centric SWIFT.

    The ACU comprises the Central Banks of India, Pakistan, Bangladesh, Bhutan, Maldives, Nepal, Sri Lanka, Myanmar, and Iran: a healthy mix of West Asia, Southeast Asia, and South Asia.

    It was the Central Bank of Iran – still under harsh sanctions – that developed the new bank messaging system, so new it’s not yet known by its own acronym.

    Crucially, the Governor of Russia’s Central Bank took part in the ACU summit as an observer, along with officials from Belarus, which applied for ACU membership two weeks ago.

    Iranian Central Bank Governor Mohammad Reza Farzin confirmed not only the interest of potential members to join the ACU, but also the drive to set up a basket of currencies for payment of bilateral trade deals. Call it a de-dollarization fast track.

    As Iran’s first Vice President, Mohammad Mokhber summed it up: “De-dollarization is not a voluntary choice by countries anymore; it is an inevitable response to the weaponization of the dollar.”

    Iran is now at the heart of all things multipolar. The recent discovery of a massive lithium field holding roughly 10 percent of the world’s reserves, coupled with the quite possible admission of Iran into the expanded BRICS – or BRICS+ – as early as this year, has bolstered scenarios of an upcoming BRICS currency backed by commodities: gold, oil, gas and – inevitably – lithium.

    All this frantic Global South-led activity stands in sharp contrast to the sputtering deceleration of the Empire of Sanctions.

    The Global South has had enough of the US sanctioning and banning whoever, whatever, and whenever they like, in defense of a hazy, arbitrary “rules-based international order.”

    Yet exceptions are always made when the US itself badly needs to buy, for instance, Chinese rare earth and EV batteries. And while China continues to be harassed and threatened non-stop, Washington quietly urges it to continue to buy American corn and low-end chips from Micron.

    This is what’s called “free and fair” trade in the US today.

    The BRICS have other ideas to escape this vicious circle. Much will rely on an enhanced role for its New Development Bank (NDB), which comprises the five BRICS members as well as Bangladesh, the UAE, and Egypt. Uruguay will be joining soon, and the membership requests of Argentina, Egypt, Saudi Arabia, and Zimbabwe have also been approved.

    According to Brazil’s former head of state and current NDB President Dilma Rousseff, decisions on new members will officially be announced at the upcoming August BRICS summit in South Africa.

    Meanwhile, in Astana, Kazakhstan, the 20th round of the interminable Syrian peace process took place, congregating the foreign vice-ministers of Russia, Syria, Turkey, and Iran.

    That should be the defining step in a “normalization road map” proposed by Moscow last month to finally regulate the role of the Turkish Army operating inside Syrian territory. Russian Foreign Vice-Minister Mikhail Bogdanov once again confirmed that the US is going all out to prevent a normalization between Damascus and Ankara – by supporting oil-stealing Kurdish militias in northern Syria.

    A “broad integrative configuration”

    All interlinked developments concerning SCO, BRICS, EAEU, and other multilateral mechanisms – now happening at breakneck speed – are converging in practice into a concept formulated in Russia back in 2018: the Greater Eurasia Partnership.

    And who better to define it than Russian Foreign Minister Sergey Lavrov: “Our flagship foreign political project is to [build] support for the concept of the Greater Eurasian Partnership. What we’re talking about is facilitating the objective process of forming a broad integrative configuration that is open for all countries and associations across our vast continent.”

    As Lavrov routinely explains now in all of his important meetings, this includes “interlinking the complementary development plans” of the EAEU and China’s BRI; expanding interaction “within the framework of the SCO with the involvement of SCO observer states and dialogue partners;” “strengthening the strategic partnership” between Russia and ASEAN; and “establishing working contacts” among the executive bodies of the EAEU, SCO, and ASEAN.

    Add to it the crucial interaction between the upcoming BRICS+ and all of the above; literally, everybody and their neighbor all across the Global South is queuing up to enter Club BRICS.

    Lavrov envisions a “mutually beneficial, interlinking infrastructure” and a “continent-wide architecture of peace, development, and cooperation throughout Greater Eurasia.” And that ought to be expanded to the whole Global South.

    It will help to have other brand new institutions jumping in. That’s the case of a new Russian think tank, the Geopolitical Observatory for Russia’s Key Issues (GORKI), to be led by Former Austrian Foreign Minister Karin Kneissl, and set as a division of St. Petersburg State University focusing on West Asia studies and energy issues.

    All of these interpolations were discussed in detail during the St. Petersburg forum last week.

    One of the key themes in that spectacularly successful Global South-oriented forum was, of course, the reindustrialization and reorientation of Russia’s export-import channels away from Europe and toward Asia, Africa, and Latin America.

    The UAE had a strong presence in St. Petersburg, pointing to a West Asia emphasis, where Russia’s geoeconomic future is increasingly developing. The scope and breadth of Global South-led discussions only underlined how the self-marginalized collective west has alienated the Global Majority, perhaps irretrievably.

    On Vladimir Solovyov’s immensely popular political talk show, Russian film director Karen Shakhnazarov may have found the best way to succinctly formulate such a complex process as the Greater Eurasia Partnership.

    He said that Russia is now reassuming the role of global champion of a new world order that the Soviet Union held at the start of the 1920s. In such context, the rage and uncontrolled Russophobia by the collective west is just plain impotence: howling the frustration of having “lost” Russia, when it would have been a no-brainer to keep it on its side.

    Tyler Durden
    Fri, 06/23/2023 – 23:40

  • America's Two Largest Pension Funds Suffer Massive Third Party Data Breach
    America’s Two Largest Pension Funds Suffer Massive Third Party Data Breach

    As if CalPERS didn’t have enough of a problem simply with incompetent portfolio management and an incessant need to play “catch up” to try and meet its fund’s obligations, the nation’s largest public pension fund is now dealing with a massive data breach.

    CalPERS saw the personal information of 769,000 of its retired members exposed in a third-party breach earlier this month, KCRA reported this week. The fund serves more than 2 million members in its retirement system and 1.5 million in its health system, the report says. 

    The California State Teachers’ Retirement System, the second largest pension fund in the U.S., also suffered from the breach. It has more than 947,000 members. 

    This week CalPERS said that its third party vendor, PBI Research Services, had notified it of a “vulnerability” with software used to identify member deaths and make sure payments are distributed correctly. It told CalPERS the issued had since been fixed. 

    The app contains identifying information, including full names, birth dates and social security numbers. This information was accessed by an “unauthorized third party” the report says, also noting that names of family members may have also been exposed. 

    The third party told CalPERS that it found the issue “at the end of May” and that it was “actively being exploited by cyber criminals.”

    In a statement, PBI said: “PBI promptly patched its instance of MOVEit, assembled a team of cybersecurity and privacy specialists, notified federal law enforcement and contacted potentially impacted clients. The cyber criminals did not gain access to PBI’s other systems – access was only gained to the MOVEit administrative portal subject to the vulnerability. PBI is working directly with impacted clients to identify impacted consumers and develop notice plans.”

    And it isn’t just CalPERS that was affected: “thousands” of other organizations have also been impacted, the report says, including the U.S. Department of Energy and other federal agencies. Over 9 million drivers in Oregon and Louisiana, Johns Hopkins University, the Ernst & Young accounting firm were also exposed. 

    Randy Cheek, legislative director for the Retired Public Employees’ Association of California, concluded: “I felt just… flabbergasted that they didn’t say anything to anybody before this. We should have known. We should have been able to check our accounts.”

    CalSTRS said in a statement: “This incident did not involve unauthorized access to CalSTRS’ network. CalSTRS is working with PBI to identify the CalSTRS members whose information was involved in PBI’s incident. CalSTRS will provide notice to any members and beneficiaries whose personal information was involved in accordance with applicable law.”

    Tyler Durden
    Fri, 06/23/2023 – 23:20

  • The Endless Lies Democrats Tell In Defense Of Their Failed Californian Utopia
    The Endless Lies Democrats Tell In Defense Of Their Failed Californian Utopia

    Authored by Brandon Smith via Alt-Market.us,

    This past week California governor Gavin Newsom appeared on Fox News to debate Sean Hannity about the policies and governance of the “Golden State” as well as its obvious cultural and economic decline. To be clear, I don’t care for Hannity and obviously I find Newsom to be a reprehensible little weasel of a man, so I don’t really have a stake in which side comes out on top.

    That said, the interview/dispute is being heralded by the political left as a “win” for Newsom as they claim he “destroyed” Hannity on his own show.

    I have to examine this kind of rhetoric with some amusement because generally leftists don’t view debates the same way normal people do. They don’t care about being factually correct, they only care about winning by any means necessary. And winning can and often does include lying or misrepresenting statistics to confuse or deflect their opposition. Hannity just didn’t come prepared for the flurry of disinformation and cherry-picked data Newsom was armed with.

    Democrats and the corporate media in general have invested an intense amount of energy into a propaganda campaign that paints California as the central pillar of the US economy and American governance. According to them, California is a socialist Utopia essentially holding the rest of the nation up on its shoulders, and without such blue states we would spiral into oblivion.

    For the sake of focus, I will only break down California’s mismanagement here. Specifically, I think it’s important to debunk many of the false fiscal claims made by Gavin Newsom; the same claims which are spreading like a cancer into leftist talking points all over the internet.

    Let’s begin, shall we?

    Lie #1: High Tax Blue States Like California Subsidize Red States

    This argument is false for a number of reason, but let’s start with how Democrats present the claim – They argue that red states are among the top states receiving federal welfare dollars and subsidies, and that blue states like California are paying high taxes into those subsidies. This is why you will often hear leftists say that “red states would not be able to survive without blue states.”

    Here’s why this is nonsense – Out of the top ten most indebted states in the US, seven of them are Democrat controlled. California has the most debt by FAR with $519 billion in the red, around 60% more debt than New York and Texas which are #2 and #3 on the list. California also anticipates a $32 billion deficit in 2023. The state does not have the funds to support itself, let alone red states.

    The bottom line? California takes far more money from the federal government that they pay out.

    As of the most recent tax year for which figures are available, Californians paid $234 billion in federal income taxes. However, the state has already been allotted over $390 billion in funds from the federal government so far in 2023 and the year is only half done. Not only that, but CA took even MORE federal money from 2020 – 2022 ($400 billion to $500 billion) each year.  Meaning, on average, CA is taking around $150-$200 billion more in federal money than it pays back in federal taxes every year.

    Gavin Newsom often brags about California’s amazing budget surplus during covid, but the reality is that all of that cash was fed to the state by the federal government and the federal reserve printing press. For example, California defaulted on almost $19 billion in unemployment debt during their lockdowns, which they then had to borrow from the federal government to cover. They then passed that debt on to struggling business owners, forcing them to shoulder the burden through extra taxation while Newsom expanded deficit spending.

    To be sure other states had to take federal funds as well to avoid unemployment default, many of them Democrat controlled because of their pointless extended mandates and business closures.  Most states are in the hole when it comes to federal cash. But, the fact remains that California is a money pit; a prostitute for federal funds that creates exponential debt while leaching far more than their fair share. Blue states like California don’t foot the bill for red states. They can’t, because they are broke.

    Lie #2: California’s GDP Is So Large That It Debunks All Economic Criticism

    This was one of Newsom’s primary responses to Hannity during their debate over California’s decline – California has the 4th largest GDP in the world (over $3 trillion), therefore no criticism of its economy is valid. With that in mind, I’m going to tell you one of the biggest open secrets about how states like California, the federal government and the federal reserve calculate GDP:

    They count a majority of government spending towards total GDP.

    Yes, that’s right, California takes large amounts of tax dollars from citizens, takes hundreds of billions of dollars from the federal government, spends it all on numerous programs from welfare, to student loans to medicare/medicaid, then adds it all to their total GDP as if the government actually produces something other than debt.

    Again, a lot of states do this in their calculations, but in blue nightmare states like California that have refined the art of GDP fraud down to a science. The CA government has found that all they have to do to drive up their GDP stats to record levels is keep borrowing and taxing and then spend as much as possible.

    Another factor to consider is that CA’s real GDP adjusted for inflation is not generally cited by the media or by Democrats. With covid helicopter money triggering a 40-year spike in inflation in the past few years, California has some of the highest prices on goods and services in the country (3rd most expensive). In fact, prices are so high that many middle class workers have trouble surviving there.  And, the higher the prices go, the higher GDP goes by extension.

    If real GDP adjusted for inflation is not considered, then California’s economy might look much stronger than it actually is. If you want to know why CA supposedly about to become the 4th largest economy in the world, yet every major city in California is littered with homeless people and tent cities, it’s because their GDP is a shell game.

    Lie #3: There Is No Citizen Exodus From California

    Yes, there is. This is probably one of the more egregious lies that Newsom spreads in his Fox News interview as he cited “studies” out of institutions like UCLA to support his position that “more people are leaving red states per capita” than California.

    First of all, the per capita argument is dishonest in this situation.  What Newsom is trying to avoid is the fact that California has been losing its population to net domestic migration for around a decade.

    In 2020 the state saw a loss of 725,000 people with 359,000 net losses in residents after gains are accounted. They lost 700,000 more people than they gained from April 2020 to July 2022. To put this in perspective, losing that many people is the same as a city the size of Seattle disappearing from the California map in the span of two years.  California starting out with a larger population is irrelevant to the overall trend of population losses.

    One of the best points Hannity made to counter Newsom’s disinformation was the fact that U-Haul had no trucks for Californian’s trying to leave the state because so many residents were relocating and no one was moving in. Newsom sneered at the data, likely because he knows it undermines his entire narrative.

    U-Haul did indeed run out of trucks in CA because so many people were leaving. The top destination for U-Haul trucks was Texas followed by Florida, Tennessee, South Carolina, and Arizona. One could argue over the potential reasons for the exodus from CA, but the exodus is a FACT (I believe Newsom’s draconian covid mandates were the biggest reason for the migration, but taxation and a hostile business environment are solid causes also).

    Furthermore, California is a sanctuary state which protects illegal immigrants from deportation, and illegal immigrants are counted as part of the resident population in any census.  Every surge in migrants can offset California’s total population decline  caused by real citizens relocating.  California has handed out at least 1 million state drivers licenses to illegal immigrants since 2015, and the state is estimated to have at least 2.7 million migrants within its borders.

    Lie #4: California Provides Opportunities For The Middle And Lower Class

    No. Let’s go through the list of reason why California is a hellscape for the middle and lower classes – The state has the 2nd highest housing prices in the nation, only under Hawaii. It is the most expensive state for rent in the US, surpassing Hawaii with an average monthly rental cost of $1900. CA also has the third highest food prices in the country.

    The median household income in California is $78,000, or $6500 per month (before taxes). The average total cost of supporting a family of four in California including basic necessities is $6700 per month. This is why the Pacific state had the highest homeless rates in the US in 2022 (except for Washington DC). Living in CA is a net negative prospect for the average person, and forget about starting a small business and building something better – California is consistently rated one of the worst states for starting and maintaining a business, which is why companies have been leaving in droves over the past few years.

    Why Do They Lie?

    I can only theorize on this issue, but I suspect that leftists lie about California as a success story because they see the state as the culmination of their ideology. It’s the beta-test state for numerous socialist policies to fester and then spread to other parts of the US. It’s a symbol of their vision for the future, and it’s falling apart. So, instead of fixing what’s really wrong with it they fabricate a narrative of a state on the rise rather than on the decline and attack anyone who points out the obvious problems.

    I also believe that looking at California is a lot like looking into a crystal ball that shows us America a couple years from now. The way California is run, with endless debt and a cycle of statistical fallacies to hide the growing fiscal cancer, is a lot like the way our federal government is run. When we see the crumbling of CA, we are seeing a glimpse of what will soon happen to the rest of the country.

    They have to make it look as good as they can. They have to lie. Because if they don’t divert blame they could end up paying the price for their mismanagement later.

    *  *  *

    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
    Fri, 06/23/2023 – 23:00

  • Tracking Russia's Friends And Foes Around The World
    Tracking Russia’s Friends And Foes Around The World

    Over the course of the country’s invasion of Ukraine, beliefs about who is a friend and who is a foe of Russia have consolidated among its population.

    However, as Statista’s Katharina Buchholz notes, there is one surprising exception, however – Ukraine itself.

    A survey among Russians shows that the country slid down in the ranking from the second biggest enemy of Russia in 2021 to its fifth biggest foe in 2023.

    While previously, 40 percent of Russian had named the country as an enemy, only 26 percent listed it most recently when asked what Russia’s five biggest enemies were.

    Infographic: Russia's Friends and Foes | Statista

    You will find more infographics at Statista

    According to the reoccurring survey by the Levada Center, a Russian non-governmental organization, official Russian positions on its friends and enemies are generally echoed by its people.

    Especially allies of Ukraine are seen increasingly negative in Russia.

    The most disliked among them as of May 2023 were the United States, the United Kingdom, Germany and Poland. 72 percent of Russians currently consider the U.S. an enemy – up 8 percentage points from two years ago. Dislike of the latter three countries rose significantly faster, by between 21 and 32 percentage points – with the biggest increase hitting Russia’s former ally Germany.

    The opposite picture emerges concerning the country’s biggest allies. Belarus, China and India gained between 18 and 20 percentage points in the ranking in two years, while Kazakhstan – having spoken out against the Ukraine war – lost some approval.

    Yet, it isn’t always a majority who shares these beliefs. With Belarus and the U.S., a large majority of respondents considers the countries among the top 5 of friends and enemies of Russia, respectively. Concerning the country’s perceived as its second biggest friend and enemy, China and the United Kingdom, only small majorities of 58 percent and 51 percent could agree to place them among the countries major friends and foes.

    Tyler Durden
    Fri, 06/23/2023 – 22:40

  • US And China 'Drifting Into War': Former Joint Chiefs Chairman
    US And China ‘Drifting Into War’: Former Joint Chiefs Chairman

    Authored by Andrew Thornebrooke via The Epoch Times (emphasis ours),

    The United States is drifting into a war with China’s communist regime that could upend the global order and shatter economies across the globe, according to two former military leaders.

    Fishermen in a harbor on Pingtan island, opposite Taiwan, in China’s southeast Fujian Province on April 9, 2023. – China was conducting a second day of military drills around Taiwan on April 9, in what it has called a “stern warning” to the self-ruled island’s government following a meeting between its president and the U.S. House speaker. (Greg Baker/AFP via Getty Images)

    A potential conflict between the United States and China over Taiwan would result in global catastrophe but is nevertheless becoming an increasingly likely scenario, according to former Chair of the Joint Chiefs of Staff Mike Mullen.

    “I’m worried that we’re just drifting into war,” Mullen said during a June 20 talk with the Council on Foreign Relations think tank.

    “[Taiwan] is an island that is at the center of four of the five top economies in the world.”

    Mullen said that the United States’ efforts to deter an escalation toward conflict in the Taiwan Strait had been “failing over many years.”

    Moreover, he said, given that Taiwan manufactures 90 percent of the world’s advanced semiconductors, used in everything from pickup trucks to hypersonic missiles, a conflict for the island would “devastate the globe.”

    China ‘Building a Military to Confront the US’

    The Chinese Communist Party (CCP), which rules China as a single-party state, claims that Taiwan is part of its territory and must be united with the mainland by any means necessary. CCP officials have thus threatened to start a war to prevent Taiwan’s de facto independence from being recognized internationally.

    Despite this, the regime has never controlled any part of the island, which is governed by a democratically-elected government.

    The CCP has increased its aggression against both Taiwan and the United States in recent years, frequently sending fighter jets and military vessels to harass U.S. and Taiwanese forces in the region.

    Ensuring Taiwan’s continued security is a “vital interest for the United States,” Mullen said. Deterring a CCP invasion of the island, however, will require the United States to take bold actions against the regime sooner rather than later.

    Clearly, China is much more aggressive, much more coercive on the military side, on the diplomatic side, on the economic side, and the political side,” Mullen said.

    “Rebalancing that means we’re going to have to take pretty aggressive steps which, at a time of high tensions, could be read the wrong way.”

    Such a state of affairs is made all the more volatile, given that U.S. military leadership has reported that the CCP is developing its military to overtake U.S. defenses in the region.

    Retired Adm. Harry Harris, who previously served as commander for the United States Indo-Pacific Command, acknowledged as much during the Council on Foreign Relations event.

    They’re building a military to confront the United States, our military, and those of our friends, allies, and partners,” Harris said.

    With that in mind, Harris said that preventing powers like the CCP from devouring smaller, democratic governments was vital to preventing the subversion of order throughout the globe.

    “If we allow an autocratic, big country to have its way with smaller democratic countries, for example, Ukraine and Taiwan, the global world order as we know it is finished. Might will make right,” Harris said.

    “There are 24 million Taiwanese who want to live their lives just like you and I do. They don’t want to live in a communist system governed by a country that is committing genocide against their own people and brutalizing Hong Kong to bring them under Chinese rule.”

    Still, Harris said, defending Taiwan from CCP invasion would incur losses in life and treasure unseen since World War II. With that in mind, he said, Americans ought to consider to what extent they were willing to sacrifice to preserve democracy.

    The most important constituent is the American people because it’s your sons and daughters who are going to fight and die for Taiwan if we go to war against China,” Harris said.

    Read more here…

    Tyler Durden
    Fri, 06/23/2023 – 22:20

  • Lab-Grown Meat Gets Green Light On US Menus
    Lab-Grown Meat Gets Green Light On US Menus

    The World Economic Forum’s dietary blueprint for the masses is becoming a reality as lab-grown meat, bugs, and plant-based foods are quickly being adopted under the guise of solving ‘climate change.’ The latest move by elites and governments to reset the global food supply chain is US regulators approving the sale of meat cultivated from Chicken cells. This makes the US the second country worldwide, besides Singapore, to approve the sale of lab-grown fake meat. 

    The Agriculture Department approved Upside Foods and Good Meat to begin selling “cell-cultivated” or “cultured” chicken meat from labs in supermarkets and restaurants. 

    “Today’s watershed moment for the burgeoning cultivated meat, poultry and seafood sector, and for the global food industry,” Good Meat said in a statement.

    Upside Foods CEO Uma Valeti said cultured meat in the US will “fundamentally change how meat makes it to our table.” 

    “Instead of all of that land and all of that water that’s used to feed all of these animals that are slaughtered, we can do it in a different way,” said Josh Tetrick, co-founder and chief executive of Eat Just, which operates Good Meat.

    WEF alarmists have made it clear they believe a reset of the global food supply chain is needed to solve climate change. 

    WEF stressed that “we urgently need sustainable technologies and methods to improve our current food systems and use of land for agriculture.” Their ultimate goal is to curb meat consumption from livestock on farms to lab-grown meat, bugs, and plant-based foods. 

    “The globalists are at it again,” Rep. Mike Flood (R-Neb.) tweeted earlier this year. 

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    Good Meat’s products are set to hit an undisclosed restaurant in Washington, DC, while Upside’s chicken will be launched at a restaurant in San Francisco. It’s only a matter of time before the fake meat hits grocery stores. 

    As for gauging the popularity of lab-grown meat, look at the giant flop plant-based foods have been in the US:

    “The bulls in the industry, I think, had a very wild, very optimistic estimate of how big the market could get.

    “There was a lot of exuberance in this category. It was new, it was different, it was on trend.

    “But the consumer environment is tough, and this stuff is not cheap… It’s going to take time to change cultural practices. It’s not going to happen overnight,” John Baumgartner, an analyst at Mizuho Securities, recently told clients. 

    WEF’s push to directly or indirectly ram through climate policy on the corporate and government level is happening while these elites who supposedly run the world fly around in luxury private jets and sail across oceans in superyachts. 

    And it remains uncertain what the health consequences might be 5-10 years into the future due to the consumption of artificial meat…

    Oh yea, and there’s this: “Carbon Footprint Of Lab-Grown Beef “Orders Of Magnitude” Worse Than Traditionally Raised.”

    So is fake meat really about saving the planet? Or is there another agenda? 

    Tyler Durden
    Fri, 06/23/2023 – 22:00

  • 3M Reaches $10.3 Billion Settlement Over US Allegations Of 'Forever Chemicals' Contamination
    3M Reaches $10.3 Billion Settlement Over US Allegations Of ‘Forever Chemicals’ Contamination

    Authored by Mimi Nguyen Ly via The Epoch Times (emphasis ours),

    Chemical manufacturer 3M Co. has reached a $10.3 billion settlement with several U.S. public drinking water systems to resolve allegations of contamination of “forever chemicals.”

    Illustration picture shows the 3M logo at the site of the 3M plant in Zwijndrecht, Netherlands, on 10 June 2021. (Eric Lalmand/Belga Mag/AFP via Getty Images)

    The company announced Thursday that the agreement “includes present value commitment of up to $10.3 billion payable over 13 years.”

    The $10.3 billion agreement would settle a case that had been scheduled for trial earlier this month over a 2018 lawsuit brought by the city of Stuart, Florida. The judge overseeing the case delayed the trial the morning it was set to start.

    The city alleged that 3M made or sold firefighting foams containing PFAS that polluted local soil and groundwater, and sought for more than $100 million for filtration and remediation.

    Stuart is just one of about 300 communities that have filed similar suits against companies such as 3M that produced firefighting foam or the PFAS it contained.

    3M itself is facing thousands of lawsuits alleging PFAS contamination that were not part of the latest settlement. Among the lawsuits are those filed by people with personal injury and property damage claims. U.S. states have also filed lawsuits citing damages to natural resources such as rivers and lakes.

    ‘Not An Admission of Liability’

    3M said the money in the settlement will help “support PFAS remediation for public water suppliers that detect PFAS at any level or may do so in the future.”

    The company noted the settlement is “not an admission of liability.”

    “If the agreement is not approved by the court or certain agreed terms are not fulfilled, 3M is prepared to continue to defend itself in the litigation. 3M also will continue to address other PFAS litigation by defending itself in court or through negotiated resolutions, all as appropriate,” the company stated.

    PFAS is an acronym for invisible man-made chemicals called per- and poly-fluoroalkyl substances, which are known for their resistance to grease, oil, water, and heat. They are colloquially referred as “forever chemicals” because they don’t easily break down in the human body or the environment.

    Read more here…

    Tyler Durden
    Fri, 06/23/2023 – 21:40

  • San Francisco Ranked Worst-Run City In America
    San Francisco Ranked Worst-Run City In America

    It will hardly come as a surprise to readers, and indeed anyone, that San Francisco, plagued with shit-covered streets, a drug and homelessness crisis, out-of-control violent crime, and a commercial real estate downturn, has ranked as the worst-run city in the country, according to a new study by personal finance website WalletHub

    WalletHub researchers analyzed 149 cities via a “quality of services” score. They were able to find the score by using 36 metrics, like high school graduation rates, public hospital system quality, and crime rates, condensing those metrics into six categories, which were then measured against the city’s per-capita budget. 

    San Francisco scored 149 out of 149 cities. Across the six key categories, the city ranked 92 in the economy, 65 in safety, and 49 in financial stability. Even though the city ranked last on the overall list, there were some bright spots, number two in health and 12 in health. 

    Ranking last on WalletHub’s list comes as no surprise. Progressive city leadership under Mayor London Breed is running an ‘unsustainable’ budget deficit while the local economy falters. A commercial real estate crisis is unfolding in the downtown area as building owners are defaulting on properties. Crime is out of control, forcing businesses to flee. And Democrats who control the town appear to have no interest in enforcing law and order

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

    And it seems like almost overnight. Democrats have transformed a once thriving city into a hellhole riddled with crime and drugs. Failed policies and no accountability from lawmakers are disgusting. Voters can save their city by voting in the next mayoral election in November 2024. But quite honestly, the city might not recover for years. It’s time to consider moving to an area where living expenses and crime are much lower. 

    Tyler Durden
    Fri, 06/23/2023 – 21:20

  • The Stealth Student Loan Bailout
    The Stealth Student Loan Bailout

    Authored by Jonathan Pidluzny via Real Clear Education,

    The Supreme Court is likely to strike down the Biden Administration’s borrower bailout in the coming weeks.

    The administration’s plan to transfer up to $20,000 in student loan debt per borrower – from individuals who voluntarily took out loans to finance their college education to unsuspecting taxpayers – is one of the most audacious examples of executive overreach in American history.

    Despite its $400 billion price tag, the action is only a small piece of the administration’s strategy to create a massive new public subsidy for higher education. A cynic might wonder whether the headline-grabbing but legally dubious bailout now before the Court was conceived as a decoy to distract public attention from the real centerpiece of the debt-transfer agenda.

    With public attention focused on the blanket forgiveness plan (and the pleas of those demanding more), the Department of Education was busy crafting an ambitious plan to bail out future borrowers in perpetuity by changing the rules governing income-driven repayment.

    Currently, multiple income-based repayment programs exist. All would cap the payments of enrollees at a percentage of their current income and then wipe away debt that remains after many years of repayment. When income-based repayment plans are designed properly, they align the timing of repayment with career earnings trajectory, such that borrowers pay the loans back faster as their incomes increase. (It is reasonable for doctors with very large loans to have smaller payments in their residency years when salaries are modest).

    But the design principle should be that most loans are eventually paid off, including interest, except in cases of manifest hardship.

    With its proposal to phase out several existing income-based repayment programs in favor of a much more generous version of a specific program called REPAYE (Revised Pay as You Earn), the Department of Education is abandoning this expectation to create an ongoing bailout.

    REPAYE’s extravagant new terms are a bad deal for taxpayers. Undergraduate borrowers will be required to pay only 5% of their disposable income toward their student loan debt, with disposable income defined as income above 225% of the federal poverty line ($32,805 for an individual or $67,500 for a family of four). Balances will not grow when a borrower’s monthly payment is smaller than the interest accrued. (To accomplish this benefit, the Secretary of Education claims the power to cease charging interest owed to the U.S. Treasury.)

    Outstanding balances will be forgiven under the program after 10 to 20 years depending on the size of the original balance. Forever.

    The program will subsidize college attendance for borrowers across income levels. According to Department estimates, borrowers in the lowest 20% of lifetime earners will see the cost of college discounted by 90% relative to the status quo.

    This means that on average, they will repay $873 for each $10,000 borrowed prior to the cancellation of the remaining principal. Borrowers in the second lifetime-income quintile will receive a 65% discount on the cost of college, and borrowers in the third and fourth income quintiles will receive 37% and 13% discounts, respectively. The Urban Institute estimates that under proposed changes to REPAYE, only 22% of those who complete a bachelor’s degree with typical levels of debt will repay their debt entirely (49% will repay less than half).

    Concretely, a household of four earning $80,000 per year with $30,000 in student loan debt would be expected to pay approximately $291 per month under the current version of REPAYE. Under the new rule, that payment would drop to just $52 per month.

    Of course, the debt does not disappear when the balance is ultimately canceled. It gets transferred onto the backs of taxpayers. In effect, the Department of Education is in the process of creating a new, permanent, social-welfare program that disproportionately benefits the highly educated—all without congressional authorization or appropriation.

    If the program goes into effect, American taxpayers will be on the hook for a much larger proportion of higher education expenditures nationwide. The Congressional Budget Office (CBO) estimates that the action will cost $230 billion over the next decade, assuming the Supreme Court allows the first bailout to proceed. If it does not, much of the loan debt that would have been forgiven this year will be canceled in years to come under the Income-Driven Repayment (IDR) rule’s provisions.

    The CBO estimate also does not fully account for the inflationary impact of the stealth bailout proposal. Research has shown that when the pool of financing available to students increases, colleges find it easier to raise tuition rates (they often “invest” in luxury facilities and armies of DEI administrators and pass the costs on to students and taxpayers). Families with the wherewithal to pay for college out of pocket will instead choose to borrow in order to access the potential subsidy. Who can blame them when government policy creates an incentive to leave their money in the stock market and use investment gains to pay down the loan at a discount in the decade following graduation?

    Because the new program would artificially cap repayment below the cost of college for most borrowers, students will also have an incentive to overspend on college, comfortable in the knowledge that REPAYE’s cancellation provision effectively sets a repayment ceiling. Similarly, underprepared students will be recruited to enroll with the promise that their loans will be forgiven if they do not complete their degrees and secure remunerative employment. This destroys individual incentives to be budget-conscious and attentive to price when selecting an institution and area of study. In short, the regulation will drive up the cost of college in myriad ways and, with it, taxpayer-funded higher education spending.  

    All of which is to say that when the Supreme Court issues its judgment in Biden v. Nebraska later this month, the debate about student loan forgiveness will not be over. The coming IDR reforms are even more radical than blanket forgiveness—and very likely to provoke additional legal challenges and congressional scrutiny in the years ahead.

    Tyler Durden
    Fri, 06/23/2023 – 21:00

  • 91 Private Colleges Have Closed Or Merged Since 2016
    91 Private Colleges Have Closed Or Merged Since 2016

    A new analysis of data provided by Higher Ed Dive has revealed that since 2016, 91 separate private colleges have closed, merged with another school or announced plans to close.

    The trend was helped along by the onset of Covid and the ensuing reaction that the country had to the virus. As CNBC reports, colleges that were already struggling heading into the pandemic found that lockdowns were the proverbial “straw that broke the camel’s back”. 

    Robert Franek, editor-in-chief of The Princeton Review, told CNBC: “There are two significant issues affecting higher education right now, specifically, through the admission and enrollment offices.” 

    He continued: “Number one, it is the admission cliff, and that is the impending decline [in the number of prospective students]. We’ll be graduating our lowest high school classes by population in 2025. And most enrollment professionals have been wringing their hands about this date of 2025, but many schools have seen those enrollment declines already.”

    Roughly 95% of U.S,. colleges are reliant on tuition and funding from students to operate (others are reliant on things like public funding and/or endowments to help fund their operations). 

    Fitch Ratings Senior Director Emily Wadhwani added: “It’s a reflection of, I think, an unsustainable operating platform, meaning a heavy reliance on tuition, which can’t always keep up with inflation [or] with erosion in enrollment.”

    Wadhwani said that schools “can’t keep hiking tuition sticker price in the hopes that the net residual once you account for scholarship and discounting and the like is going to be enough to offset your growing expense base.”

    A video report provided by CNBC.com went into further depth on the issue, noting, in the case of colleges like Lincoln College, that cyberattacks also played a role in closures. The video profiled that 68% of for-profit schools also closed due to an enrollment cliff, due to simply “less people being born” during the generation of what would be new college students.

    The video also looked at The King’s College, which announced it needed $2.6 million before warning students that it would have to close and they would have to begin looking elsewhere. They provided potential transfer schools to their student base, which is located in New York City.  

    Finally, the video focuses on how enrollment driving finances “is a given” for colleges. 

    Tyler Durden
    Fri, 06/23/2023 – 20:40

  • People Need To Understand They’re 'Being Used Against Each Other': Filmmaker
    People Need To Understand They’re ‘Being Used Against Each Other’: Filmmaker

    Authored by Ella Kietlinska and Jan Jekielek via The Epoch Times (emphasis ours),

    Most people do not realize that America has been at war for a long time, but it is not a conventional war—it is a psychological war, said a filmmaker who recently released a documentary directing people’s attention to this important issue.

    It’s a war of propaganda,” said Mikki Willis, filmmaker and creator of the “Plandemic” film series. The third installment, “Plandemic 3: The Great Awakening,” was released in June.

    It’s a war to divide the people and weaken the strength of our collaborative communities to do anything about these new ideologies being forced upon Americans,” Willis said in an interview for EpochTV’s “American Thought Leaders” program.

    Mikki Willis, filmmaker and creator of the Plandemic film series, including the third installment, “Plandemic 3: The Great Awakening,” in June 2023. (Screenshot/Epoch TV)

    The new film does not highlight much about COVID-19 or COVID vaccines as filmmakers stayed away from these topics, Willis said. Instead, the documentary illustrates “what all of those [COVID-related] crises were used to advance.”

    To explain their point, the filmmakers drew a comparison to a couple of cultural revolutions in history—primarily Mao Zedong’s Cultural Revolution in China—to show that the only way for the past dictators to be able to commit atrocities and genocide was to lure the people into a hypnotic spell, to become their force for doing evil, Willis said.

    Organizations, such as Mussolini’s Blackshirts, Hitler’s Youth, Lenin’s Red Army, and Mao’s Red Guards, were examples of such forces formed to accomplish dictators’ evil objectives, Willis added.

    “It’s a real wake-up call to the people to understand that we’re being used against each other,” Willis said. “When we are united, that’s when we are literally unstoppable.”

    In the 1960s, Mao Zedong, a Chinese Communist Party leader who then ruled communist China, launched the Cultural Revolution, carried out by fanatical youth encouraged to smash, beat, torture, and murder for the sake of destroying the so-called “four olds” of China—old customs, old culture, old habits, and old ideas.

    The death toll of the Cultural Revolution in China was estimated by many researchers at a minimum of 2 million, while American professor R.J. Rummel, who researched the mass killing, wrote in his book that the Cultural Revolution claimed the lives of 7.73 million people.

    Dictatorship Needs Complicity

    None of the dictators of the past would have succeeded in committing atrocities or genocide without luring the people into their armies, Willis said.

    Most of [those people] are just citizens that were enlisted in to fight for the dictators and to fight against their own people, and in many cases, against their own families.

    There are people that were part of Mao’s Red Guards that are now coming out in deep remorse of turning their own parents in, Willis said, “but at the time, they were under such a spell that they celebrated the imprisonment, the torture, and execution of their own parents.”

    “They thought they were doing something so righteous for the world.”

    Former Red Guard Zhang Hongbing, who denounced his mother as a “counterrevolutionary” to the authorities—which led to her execution—later started a campaign to make his mother’s grave a Cultural Revolution landmark, according to a 2013 report by Beijing News.

    Zhang, radicalized by the Cultural Revolution, was just 16 in 1970 when he reported his mother to the communist authorities for criticizing the political leaders of the Chinese Communist Party (CCP) for promoting idol-worshipping, and for supporting Mao’s political opponent in a family argument.

    Zhang’s mother was imprisoned and executed by firing squad upon his denouncement.

    Later, Zhang deeply regretted his action and, since 2011, has appealed to the local authorities to have his mother’s grave marked and preserved as a historical landmark of the Cultural Revolution, hoping that people would learn from his tragic experience.

    “Let people scorn me and condemn me. I want to serve as a negative example that they can all learn from,” Zhang said in 2013.

    It’s a scary idea to think that we’re capable of turning against our own loved ones, the people that gave us life itself,” Willis pointed out. “That’s what this wakeup call is about in ‘The Great Awakening.’”

    Tyler Durden
    Fri, 06/23/2023 – 20:20

  • Distraction? Questions Swirl Over Timing Of Sub Story As Biden Bombshells Hit Target
    Distraction? Questions Swirl Over Timing Of Sub Story As Biden Bombshells Hit Target

    As two IRS whistleblowers prepared to go public with more damning information implicating the Biden administration in a scheme to bury evidence of Hunter Biden’s tax crimes – as well as the revelation that Joe Biden was ‘in the room’ when Hunter shot a threatening message to a Chinese business associate demanding payment, a story which some have called the biggest political scandal this country has ever seen”, another story captivated the nation: the deaths of missing submarine passengers who set off last weekend to see the Titanic, only to lose contact shortly into the trip.

    Late Thursday the Wall Street Journal reported that “A top secret military acoustic detection system designed to spot enemy submarines first heard what the U.S. Navy suspected was the Titan submersible implosion hours after the submersible began its voyage,” and that “the U.S. system detected what it suspected was the sound of an implosion near the debris site discovered Thursday.”

    What’s more, it’s not like the military took days to try and figure out what the sound was. “While not definitive, this information was immediately shared with the Incident Commander to assist with the ongoing search and rescue mission.”

    So, the Biden administration knew on Sunday (while not definitive), that the submarine sounded as if it had imploded hours into its journey. What’s more, they let everyone think the passengers were alive.

    This has led many to wonder whether the Biden administration allowed people to think the sub passengers were still alive, despite information and belief that the sub had likely imploded early into the voyage, a story arc that would have fizzled out much sooner and turned the public’s attention to the far greater bombshell of a story surrounding the latest alleged crimes by the Bidens.

    Furthermore, while an official death announcement from submersible company OceanGate was predicated on the discovery of a debris field, that may not be enough for those questioning how the sub story came to captivate the nation on the same day the most damning evidence to date against the president’s family emerges.

    Let’s see what the administration comes up with. Now that the story has served its purpose and the White House’s “historic” press secretary looks to move to even more dramatic geopolitical shocks, we are confident that it will be some variation of ‘out of respect for the families,’ or ‘at the company’s request.’

    In the end, however, it’s not like a diversion was even needed: for those wondering how many minutes the mainstream media has devoted today to the IRS whistleblowers’ story, we have the answer: 0.

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

    Tyler Durden
    Fri, 06/23/2023 – 20:11

  • Do I Sell My Corn And Just Forget About The Animal?
    Do I Sell My Corn And Just Forget About The Animal?

    The world’s top pork producer cautioned this week that US pig farmers are incurring severe losses on their livestock and that they might start reducing herd sizes and selling animal feed as a move to recoup losses. 

    Shane Smith, chief executive officer of Smithfield Foods, was quoted by Bloomberg on Wednesday while speaking at The Wall Street Journal’s Global Food Forum in Chicago. Smith said:

    “There’s a concentration of people in the industry who grow their own corn, they grow their corn and they feed it to the animal.

    “They’re going to have to make a decision. Do I sell my corn and just forget about the animal?”

    Smith explained producers are losing as much as $80 per head as China’s pork demand wanes and feed costs skyrocket. A severe drought across the Midwest has sent corn prices soaring this month, squeezing producer profits. Also, the cost of farm equipment continues to rise, and inflation remains sticky — all of this is an indication, as the CEO explained, might lead to producers shrinking herd sizes. 

    “US growers usually only start shrinking herds when they face cash flow losses, and that is already happening,” Smith said. He made no mention if Smithfield, owned by Hong Kong-listed WH Group, has made any adjustments to its pig herd size.

    Smith said the US meat industry is facing a glut that might take until 2025 to normalize. He noted:

    “This industry is in an incredibly difficult cycle.” 

    And still, consumers are paying near record high levels for pork at the supermarket, with prices hovering around $4.189 per pound. 

    Meanwhile, the US beef industry is experiencing a shortage as the herd size plunges to levels not seen since the early 1960s

    Which has sent beef prices at the grocery store to near-record highs

    Some of the stickest inflation at the supermarket lingers in the meat department. But don’t fret because US regulators just approved fake meat for consumers. 

    Tyler Durden
    Fri, 06/23/2023 – 20:00

  • Apocalypse FedNow
    Apocalypse FedNow

    Authored by Mark Goodwin via BitcoinMagazine.com,

    Within Fed Chair Jerome Powell’s recent congressional appearance is regulatory signaling with large implications for stablecoins, the dollar, CBDCs, and bitcoin…

    “It would be a mistake to leave the Fed with a weak role of stablecoins.”

    – Jerome Powell, June 21, 2023

    On the longest day of the year, Fed Chair Jerome Powell took to the podium to testify before Congress and the House Financial Services Committee. Last week, the Powell-led central bank had decided to temporarily pause rate hikes — the fastest and most aggressive interest rate increases in U.S. history — in their mission to battle the massive price inflation found downstream from the lockdown-induced monetary inflation via stimulus measures.

    Less than a month away from the announced July launch of FedNow, an inter-bank communication platform, Powell finds himself at a crossroad of monetary policy, regulation and capital requirements before the formal founding of the digital dollar system.

    THE NEW DOLLAR: FEDNOW & USTS, NOT RETAIL CBDCS

    “The status of the dollar as the world’s reserve currency is very important.”

    – Jerome Powell, June 21, 2023

    The dollar has been digitized for a long time; be it the Zelle or Venmo credits in your retail account, or the dollar balance in your checking account at Bank of America. But generally speaking, the mechanisms behind the transfer of Treasuries and other reserve assets backing these numbers on a screen have remained at the technical agility of a fax machine. The dollar may be the world reserve currency, and can be transacted via intermediaries on obvious centralized banker rails, or less obviously on Ethereum rails via ERC-20 tokens in the form of popular retail stablecoins, but the U.S. Treasuries held by these novel credit creators remain the world reserve asset. These bonds are strictly issued by the U.S. Treasury to be sold to the private sector to create dollars, incentivized with yields dependent on the federal funding rate set by the Federal Reserve. The public has generally feared the direct issuance of some form of retail CBDC (central bank digital currency) due to surveillance concerns and currency seizure from a centralized issuer, but fewer realize both the level of financial surveillance already imposed by banks, never mind the ability for these trusted third parties to censor, blacklist and even expose retail to their counter-party risk. All of these actions are made increasingly possible via the digitization of the currency with an encroaching reliance on centralized payment rails, but up until next month, the communication network for interbank asset trades has remained lossy and slow.

    FedNow, slated to launch next month, serves multiple purposes, but perhaps none as important as creating a much more efficient lever for the Fed to have 365/24/7 control on overnight banking rates, such as SOFR, effectively setting the cost of borrowing short-term liquidity between fractionalized private banks attempting to meet their depositors’ withdrawals. You have probably heard the phrase “reverse repo” once or twice, but the underlying mechanic is often misunderstood. The “repo” stands for a repurchasing agreement; essentially a contract between two entities in which Bank A, with excess dollar liquidity, agrees to lend cash to Bank B, with overnight liquidity needs, via a short-term loan collateralized by Bank B’s assets such as USTs, with the conditions that Bank B will repurchase their securities, usually the next morning (“overnight”), plus a percentage-based fee that Bank A gets to keep. A reverse repo is essentially the same behavior, except that Bank A is bond-rich, cash-poor and thus asking Bank B for dollar-denominated liquidity. This exact scenario came to fruition within the recent regional bank failures in the U.S., and the Fed created new mechanisms to backstop the liquidity needs of the depositors. In the case of the ever-growing reverse repo market, Bank B is routinely the largest American banks, and sometimes even the Fed directly. FedNow is a digital lever, made possible via the internet, for complete centralized control on the overnight rate of borrowing dollars, the necessary transferring of Treasuries between banks, and thus the reshoring of dollar-denominated activity away from the Eurodollar market, and back to the United States within the scope of the Fed and the Treasury.

    PRIVATE-ENTITY DOLLAR ISSUANCE

    “We would not support a central bank digital currency for individuals. If we did have a CBDC, it would be intermediated by banks.”

    – Jerome Powell, June 21, 2023

    Shortly after the fall of FTX last fall, the NY Fed launched their digital dollar pilot program, featuring BNY Mellon, PNC Bank, Citi, HSBC, Mastercard, TD Bank, Truist, U.S. Bank and Wells Fargo, as well as cooperation with SWIFT. Notable within this quorum of too big to fail private sector banks is the inclusion of BNY Mellon, the largest U.S. bank, who holds treasuries for popular stablecoin USDC, and PNC Bank, the former 22.4% owner of BlackRock, the world’s largest asset manager, who only earlier this week filed with the SEC for approval of a spot Bitcoin ETF. The SEC has recently made waves themselves by filing their own notices against Binance and the publicly listed Coinbase for brokering sales of unregistered securities in the form of cryptocurrency tokens. While BUSD, the Binance-issued USD stablecoin, was listed as being an unregistered security, USDC, the Circle-issued USD stablecoin, second in market cap value behind only Tether, was left off the notices, despite listings on both exchanges. Powell took the idea of stablecoins being important to the Fed and the greater U.S. dollar system a step further this morning when he insinuated that not only are stablecoins not a security, they are money. “We do see payment stablecoins as a form of money, and in all advanced economies, the ultimate source of credibility in money is the central bank…We believe it would be appropriate to have quite a robust federal role in what happens in stablecoins going forward.”

    He went on to further articulate his views on not needing a direct-issued government dollar, and instead relying on the private sector banks to continue their role of government debt purchasing via USTs in order to create credit via dollars in retail accounts. “We would not support accounts at the Federal Reserve by individuals…such accounts would be managed through the banking system.” In February, the SEC served a Wells Notice to Paxos, the issuer of BUSD, directly limiting Binance’s ability to compete in the dollar creation industry. Via the signatures from the arms of regulation from the Fed, the Treasury, the SEC and even the Department of Justice, the entities allowed to make digital dollars are being hand selected in front of our eyes. In order to continue the cycle of needing to purchase government-issued debt to create dollars, the U.S. government has moved to direct policy, regulatory comment, and even disciplinary action on off-shore dollar creation, changing the landscape for stablecoins, and even the dollar itself, forever, mere moments before the founding of the digital Federal Reserve.

    BASEL III

    “Basel III is an international capital requirement we should go ahead and complete.”

    – Jerome Powell, June 21, 2023

    As American commercial banks begin to integrate digital assets such as bitcoin and dollar-derivatives such as stablecoins, the need to ensure the public that on-sheet liquidity for speculative action on commodities exists creates a unique opportunity to tilt regulation in the favor of the dollar. Basel III would require any bank wanting to hold bitcoin, other digital assets, or even gold, would also be required to hold an equal-part dollar to dollar-denominated valuation of their investments. This sudden comment on adoption of this international capital requirement would force a net-demand for dollars in the U.S banking system, despite a high monetary inflationary environment. For banks or registered investment vehicles looking to offset inflationary effects by purchasing alternative reserve assets such as bitcoin, this regulation would mean that an increase of valuation of bitcoin in a dollar-pair would also increase the need for dollar liabilities on their balance sheet. Want to run a responsible bank and meet capital requirements while also holding bitcoin on your balance sheet? Better be prepared to also hold a lot of dollars. The idea of the Bitcoin-Dollar is a parallel to the petro-dollar system, which was upheld from the gold window closing via the Nixon shock until only somewhat recently. By creating a monopoly on the in’s and out’s of oil to strictly U.S. dollars, the U.S. was essentially able to re-peg their inflating dollar to an ever-demanded energy commodity, and create a mass buyer of dollars. As the Fed and SEC circle the waters on both regional banks and private issuers of stablecoins, the downstream effect of Basel III will create permanent demand for dollars, even in a “hyperbitcoinization” environment. Powell mentioned the Fed doesn’t have specifics on proposals for capital requirements at this time, but that there will be a future proposal that comes to the Fed board later this summer.

    BLACKROCK ETF

    “Let me tell you, it’s not who the President is. It’s who’s controlling the wallet of the President.”

    – Serge Varlay, BlackRock Recruiter

    The recent application filing from BlackRock, an investment firm with assets under management totalling $10 trillion, has kicked off a filing spree from other institutional asset managers in the race for the first approved exchange-traded fund offering exposure to bitcoin. WisdomTree, Bitwise, and Invesco have all since filed to the SEC seeking to launch Bitcoin ETFs, despite a universal rejection of every spot Bitcoin ETF application previously filed, notably including NYDIG, CBOE, and Fidelity. The newly found resurgence in confidence of approval perhaps comes downstream of BlackRock’s near perfect record of getting ETFs approved, sitting at a 575 to 1 success rate. Within iSHARES Bitcoin Trust Form S-1 Registration Statement was their disclosure of using Coinbase for bitcoin custody, as well as a notice of potential conflict of interest within an affiliate of theirs acting as investment manager to a money market fund, the Circle Reserve Fund, which the issuer of USDC uses to “hold cash, U.S. Treasury bills, notes and other obligations insured or guaranteed as to principal and interest by the U.S. Treasury and repurchase agreements secured by such obligations or cash, which serves as reserves backing USDC stablecoins.” It later states that “an affiliate of the Sponsor [BlackRock] has a minority equity interest in the issuer of USDC.” The S-1 includes a line stating the “price of bitcoin may be affected due to stablecoins (including Tether and USDC), the activities of stablecoin issuers and their regulatory treatment.” The Cash Custodian and Trust Administrator of the BlackRock ETF is listed as the aforementioned digital dollar pilot program partner Bank of New York Mellon.

    While ETFs are often used as a mechanism to short commodities by large financial institutions, the recent signaling from the most important U.S. regulatory bodies reveals a real possibility of increased digital dollar creation and an increased purchasing power of the demand-inelastic reserve asset, bitcoin. There is perhaps no larger investment firm than BlackRock, and no larger banking entity than Bank of New York Mellon. There are few government bodies more influential on the global economy than the Fed and the SEC.

    Welcome to institutional adoption. Just don’t fucking dance.

    Tyler Durden
    Fri, 06/23/2023 – 19:40

  • Silicon Valley's Vacant Office Space Rises As Big Tech Dumps
    Silicon Valley’s Vacant Office Space Rises As Big Tech Dumps

    Vacant office buildings are piling up across the country as companies adopt remote or hybrid work models, slash headcount, and panic exit out of metro areas where Democrats are failing to enforce law and order. 

    The hybrid work model is becoming standard in corporate America. More troublesome is the exponential rate at which companies implement artificial intelligence systems that will displace hundreds of thousands, if not millions, of jobs in the coming years. 

    Silicon Valley companies, such as Google and Facebook parent Meta Platforms close, understand these change tides and have dumped office space at an increasing pace, reported The Wall Street Journal

    New data from CoStar Group shows office-vacancy rates in Silicon Valley, which includes the Northern California communities of San Jose, Palo Alto, and Sunnyvale, increased in June to 17%, up from 11% in 2019. In some areas, such as Mountain View and Menlo Park, the rate exceeds 20%. 

    About 35 miles from Palo Alto is the crime-ridden and drug-infested area of downtown San Francisco where a recent Coldwell Banker report showed office vacancy rate hit a record high of 29.4%. The knock-on effects of a shrinking office worker population have devastated the local economy as businesses close their doors and building owners default on loans, unleashing a financial doom loop.  

    And then there’s progressive city leadership that has transformed the once thriving metro area into a hellhole with disastrous social justice reforms. Mayor London Breed admitted to her failed policies by reversing her decision to now fund the police after defunding. 

    … and there’s no accountability for Breed. Or the voters will ensure accountability is served in the next mayoral election.

    Tyler Durden
    Fri, 06/23/2023 – 19:20

  • New Wave Of COVID-19 Infections Hits China
    New Wave Of COVID-19 Infections Hits China

    Authored by Alex Wu via The Epoch Times,

    COVID-19 has resurged in mainland China with the number of people testing positive for the virus rising significantly since April.

    This follows mass infections and deaths from last December to January.

    A Pudong, Shanghai resident told The Epoch Times on June 21 that his father recently developed white lungs from a COVID-19 infection and died.

    Others reported COVID-19-related illness, deaths, and reinfections among family members.

    Dr. Bai of Beijing Anzhen Hospital posted on Chinese social media that he had been reinfected with COVID-19, and the department director had also been infected and was suffering severe symptoms. They were both infected by patients.

    In the southeastern city of Fuzhou, “the new wave of infections has been very serious in the past month or so,” A. Liang, a Fuzhou resident, told The Epoch Times.

    Many people around him were infected.

    “Although the symptoms are not as severe as the first wave, it’s very contagious,” he said.

    A man wears a face shield as he assists a loved one on a stretcher in the hallway of a busy hospital in Shanghai, China on Jan. 14, 2023. (Kevin Frayer/Getty Images)

    Li Yu (pseudonym), a doctor in Jiamusi City of northeastern province Heilongjiang, told The Epoch Times that “there are a lot of people being reinfected with COVID-19 and hospitalized. Some elderly people died after being infected.”

    Wang Yi (pseudonym) from Nantong, in the eastern province of Jiangsu, was infected with the virus for the first time.

    She told The Epoch Times that her symptoms were severe, and she hadn’t recovered after more than 20 days. “I don’t know how I got infected,” she said.

    Wang said that she started having headaches, bone pain, and body pain on May 25 and tested positive in the hospital the next day. Then she started to have a fever, sweating, insomnia, and diarrhea until she collapsed.

    After being infected for 18 days, she had difficulty breathing.

    Ms. Liao from Suzhou city in Jiangsu Province told The Epoch Times that she tested positive on June 12 in a hospital and has been suffering from severe symptoms, such as fever, dizziness, and nausea, and then developed pneumonia.

    “Many COVID-19 patients are having intravenous treatment in the hospital,” she said. “This virus is terrifying, it is an invisible killer, and people are having lingering symptoms and sequelae after being infected.”

    Dr. Yu at Beijing University of Traditional Chinese Medicine posted an article online that stated the number of patients visiting fever clinics across the country has increased.

    Patients with low immunity, older age, or serious underlying diseases are more likely to be infected and develop pneumonia, he said.

    China’s Center for Disease Control and Prevention issued an update on COVID-19 infection numbers in May on June 11, with 2,777 severe cases and 164 deaths. All the cases were caused by Omicron mutant strains, with the top three being XBB.1.9, XBB.1.16, and XBB.1.5.

    The Chinese communist regime has consistently concealed the true scale of the COVID-19 outbreak in China. It’s unclear how many people have been infected in the new outbreak.

    Zhong Nanshan, the communist regime’s top health advisor, predicted that there might be a peak of infections at the end of June, with as many as 65 million people infected weekly.

    Tyler Durden
    Fri, 06/23/2023 – 19:00

  • Silverstein Pushing To Build Casino In Manhattan's West Side
    Silverstein Pushing To Build Casino In Manhattan’s West Side

    New York has fallen a lot since the onset of the covid plandemic. It’s about to fall even more.

    The cash-strapped city, which has seen an exodus of disgruntled residents head to Florida and other less-deadly and tax-burdened pastures, may soon have a casino.

    According to Bloomberg, real estate giant Silverstein Properties is pitching a casino project on the far west side of Manhattan, joining a handful of developers vying for one of three downstate gaming licenses.

    The New York-based developer, best known for his towers at the World Trade Center site, is teaming up with Greenwood Gaming and Entertainment to submit a proposal for the Avenir, a 1.8 million square foot (167,200 square meter) project that consists of a casino as well as a hotel and residences, according to a statement Friday.

    The proposed casino would be built on undeveloped land at 41st Street and 11th Avenue, north of the Jacob K. Javits Convention Center, at a site which is currently fully-owned by Silverstein.

    “Our city and state face a confluence of historic challenges right now,” Larry Silverstein, chairman of Silverstein Properties, said in the statement. “We need to work with state and local leaders to do everything we can to make New York the best place to live, work and visit. We’ve done it before, and I am confident we can do it again.”

    It was not immediately clear how slapping a casino in the middle of the west side, not far from the Hudson dockyards where recently every hedge fund has migrated to, will help make New York “the best place to live” but we are confident generously bribed New York bureaucrats will come up with an answer.

    The project would include two 46-story towers connected by a public sky bridge and an eight-story gaming, entertainment and restaurant complex at the base. Plans also call for 1,000 luxury hotel rooms and more than 100 units of affordable housing.

    An artist’s rendering of what the proposed casino would look like.

    Silverstein will be competing against pitches from other developers including SL Green Realty Corp. and even hedge fund manager Steve Cohen for a lucrative license to build a casino in New York City. State officials haven’t set a deadline yet for the submission of bids.

    SL Green has also pitched a casino in Times Square, while Related Cos. proposed anchoring the second phase of its $25 billion Hudson Yards project with a gaming and entertainment complex.

    One can only hope that by the time the casinos are built, there are still be a handful of wealthy New Yorkers who haven’t split for Florida.

    Tyler Durden
    Fri, 06/23/2023 – 18:40

  • India Looks To Fund State Refiners' Net-Zero Operations Goals
    India Looks To Fund State Refiners’ Net-Zero Operations Goals

    By Charles Kennedy of OilPrice.com

    India’s government this week asked some of the biggest state oil refiners to launch rights issues with which the authorities plan to help fund the firms’ net-zero and energy transition goals, Reuters reported on Friday, quoting sources with knowledge of the matter.

    The government will be seeking equity in Indian Oil Corp and Bharat Petroleum Corporation Limited (BPCL) via rights issues, and has asked Hindustan Petroleum Corporation Limited (HPCL) to issue preferential shares to the government. In exchange for the equity in the refiners, India plans to support their goals to achieve net-zero operational emissions in the 2040s.

    Indian Oil, BPCL, and HPCL are looking to invest a combined up to $48.8 billion (4 trillion Indian rupees) to reach their net zero-emissions goals by 2040, Reuters’ sources said.     

    Indian Oil Corp, the country’s top refiner and fuel retailer, said earlier this year it would consolidate all its green energy businesses into a wholly-owned unit with the purpose of boosting its clean energy division.  

    The government aims to complete the multi-billion-dollar process for the rights and preferential issues by October this year, according to Reuters’ sources.

    Earlier this year, India announced a $3.67 billion (300 billion rupees) support to state oil refiners to help them boost green energy projects and meet emission reduction targets. In the 2023/2024 budget, India also announced it would support battery storage systems.

    India, the world’s third-largest carbon emitter after China and the U.S., has a net-zero target set for 2070, twenty years later than the 2050 target of most developed economies including the U.S.  

    Meanwhile, Indian state-held oil and gas explorer, Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas producer in the country, said last month it aims to boost its renewable energy portfolio and plans $12 billion in investment in green projects.

    ONGC looks to have as much as 10,000 megawatts, or 10 GW, in its portfolio of operations by 2030, up from just 189 MW at the end of March, ONGC’s chairman Arun Kumar Singh said.    

    Tyler Durden
    Fri, 06/23/2023 – 18:20

  • Military Deploys In Moscow As Wagner Chief Sought For 'Armed Mutiny'
    Military Deploys In Moscow As Wagner Chief Sought For ‘Armed Mutiny’

    Update(1815ET): There are now widespread reports and circulating footage of additional armored vehicles deployed by military police units in key parts of Russia, including in Moscow and Rostov regions, with TASS saying they have been ordered to protect government buildings, as speculation that Wagner’s Prigozhin is making real moves against Russian leadership tonight. 

    The Washington Post is meanwhile recapping the following of reports that authorities are seeking his arrest:

    Russia’s Federal Security Service late Friday announced a criminal case against Wagner mercenary chief Yevgeniy Prigozhin, accusing him of “incitement to armed rebellion” after he declared an open conflict with Russia’s military leadership and called on Russians to join 25,000 Wagner fighters against Defense Minister Sergei Shoigu and other top commanders.

    Footage like the below is widely circulating as beefed up military security deployments have been observed in various places:

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    Russian media has confirmed–

    “Security measures have been strengthened in Moscow, all the most important facilities, state authorities and transport infrastructure facilities have been taken under enhanced protection,” law enforcement agencies told TASS.

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    There are claims circulating that the FSB is even calling on Wagner Group’s own fighters to arrest Prigozhin and bring him in to authorities. 

    An FSB statement has urged Wagner forces to no longer follow his orders.

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    And further confirmation of the seriousness of the overnight situation…

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    * * *

    Update(1641ET): After months of unchecked, ultra-provocative statements from Prigozhin aimed at both top military commanders as well as Kremlin decision-makers, it seems the Wagner chief may have finally crossed Putin’s lines. It’s being reported in Russian state sources that the Russian president has been briefed on the earlier audio tirade made by Prigozhin, which essentially declared war on the defense ministry. The Wagner statement had been circulated widely after it was posted on Telegram late at night local time.

    And now Prigozhin finally appears to be in hot water, under formal investigation for mutiny, per the statement in TASS:  

    Russia’s National Anti-Terrorism Committee on Friday demanded that Yevgeny Prigozhin, the founder of the private military company Wagner, stop unlawful actions and said the Russian Federal Security Service started a mutiny investigation in connection with his recent statements.

    “The statements that are being spread on behalf of Yevgeny Prigozhin are absolutely unfounded. In connection with these statements, the Federal Security Service of Russia has started an investigation into a call for an armed mutiny. We demand that unlawful actions be stopped immediately,” the committee said in a statement.

    He’s now saying the audio remarks were merely a call to justice and “march for justice”, denying it is a coup attempt targeting military leadership – so there may be a Wagner attempt underway to walk back the comments.

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    Earlier in the day, hours before the remarks saying the country’s military leadership “must be stopped” – Prigozhin had in a surprising turn gone after the very decision to go to war in the first place. 

    “The Armed Forces of Ukraine were not going to attack Russia with the NATO bloc,” Prigozhin had said via his press service in words widely reported also in the West. “The Russian Defense Ministry is deceiving the public and the president.” 

    This latter part of Friday’s angry denunciations may prove to finally be Prigozhin’s downfall. There are now unverified reports that Moscow is taking extra measures to strengthen security and that the FSB is on high alert.

    SECURITY SERVICES IN MOSCOW PUT ON HIGH ALERT: BBC

    As for what happens next, at the very least the Kremlin will want to do something concerning the ongoing embarrassment and scandal, reflected in Western media headlines, which can present a narrative of a fracturing of Russian forces…

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    * * *

    There are breaking reports that Wagner chief Yevgeny Prigozhin has finally completely broken off relations with the Russian military, and essentially “declared war” on the Russian Ministry of Defense (MoD).

    According to a prominent translator who has examined freshly released audio of Prigozhin’s fiery message on Telegram, the Wagner leader begins with: “PMC Wagner Commanders’ Council made a decision: the evil brought by the military leadership of the country must be stopped. They neglect the lives of soldiers. They forgot the word “justice”, and we will bring it back.”

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    It comes amid unverified reports that the regular military launched an attack on a Wagner encampment after months of soaring tensions, which the Russian MoD has just denied.

    All of this has quickly given way to reports from the region that Prigozhin is ready to lead a full-on “coup” against top leadership, military brass in particular.

    The translation of the Wagner founder’s words continue as follows

    Those, who destroyed today our guys, who destroyed tens, tens of thousands of lives of Russian soldiers will be punished. I’m asking: no one resist. Everyone who will try to resist, we will consider them a danger and destroy them immediately, including any checkpoints on our way. And any aviation that we see above our heads.

    I’m asking everyone to remain calm, do not succumb to provocations, and remain in their houses. Ideally, those along our way, do not go outside. After we finished what we started, we will return to the frontline to protect our motherland.

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    And more from Prigozhin, suggesting he could indeed have his sights set on an actual political coup:

    Presidential authority, Government, Ministry of Internal Affairs, Rosgvardia, and other departments will continue operating as before. We will deal with those who destroy Russian soldiers. And we will return to the frontline. Justice in the Army will be restored. And after this, justice for the whole of Russia.”

    One question remains after this: how long will he last? 

    Below is FT’s Moscow bureau chief on the shocking declaration…

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    At this point, the Wagner boss should certainly avoid staying in tall buildings and near windows.

    Currently, Russian state-run RT has the following military statement pinned at the top of its homepageWagner chief spreads misinformation — MOD

    “All messages and video distributed on social networks on behalf of [Yevgeny] Prigozhin about the alleged strike by the [Russian military] on the camps of PMC Wagner in the rear areas do not correspond to reality and are an informational provocation,” the defense ministry said in the statement.

    “Armed Forces of the Russian Federation continue to carry out combat missions on the line of contact with the Armed Forces of Ukraine in the area of the special military operation,” the MoD added.

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    developing…

    Tyler Durden
    Fri, 06/23/2023 – 18:15

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