Jan 04

Today’s News 4th January 2025

  • Creative Energy Diplomacy Can Lay The Basis For A Grand Russian-American Deal
    Creative Energy Diplomacy Can Lay The Basis For A Grand Russian-American Deal

    Authored by Andrew Korybko via Substack,

    Russian Energy Minister Alexander Novak shared an update on the proposed Russian gas pipeline to China through Kazakhstan, which was analyzed here in November, shortly before the start of the year. He confirmed that “This process, so to speak, is underway. Estimates, the feasibility study and negotiations are now underway.”

    This statement shouldn’t be misinterpreted as assuming that the project is a done deal like RT implied in its report, however, since it’s more of a message to the US at this point.

    The previously mentioned analysis cited last summer’s about the continued Sino-Russo pricing dispute over the Power of Siberia II (POS2) pipeline, which boils down to China demanding bargain-basement prices (reportedly equivalent to Russia’s domestic ones) while Russia obviously wants something better. This impasse hasn’t yet been resolved, and while some like Asia Times’ Yong Jian consider the trans-Kazakh proposal to be an agreed-upon rerouting of POS2, that’s arguably a premature conclusion.

    Pricing disputes still exist and the “process” that Novak described has only begun. It’s far from finalized and might still take a while to be completed, if ever, as suggested by the POS2 and Pakistan Stream Gas Pipeline precedents. The first, which was earlier known as the “Altai Pipeline” before the decision to reroute it via Mongolia, has been discussed for a full decade already with no deal in sight. The same goes for the second, which was first agreed upon in 2015, but no progress has been made since then either.

    Amidst the latest talk of the Russia-Kazakhstan-China (“RuKazChi”) gas pipeline, Russia’s last direct gas pipeline to Europe was just shut down after Ukraine’s decision to let their five-year transit agreement lapse. Russia can still indirectly export gas to Europe via TurkStream, and Europe can always compensate for this long-foreseen loss of 5% of its gas import total via more Russian LNG, but the writing is on the wall that the EU will continue diversifying from Russia under American pressure.

    In that event, Russia’s lost budgetary revenue from energy exports to Europe can only realistically be replaced by China, but Russia is still reluctant to agree to the bargain-basement prices that China is reportedly demanding. Its decisionmakers’ thought processes can only be speculated upon given the opacity and sensitivity of these talks, but this might reasonably be due to the expectation that the US’ more muscular containment of China could coerce Beijing into agreeing to better prices with time.

    Another possibility, which isn’t mutually exclusive at this point at least, is that they might also be holding out hope that some of their European exports could one day be resumed seeing as how the infrastructure still exists but their partners made a US-pressured political decision to cut off imports. The best-case scenario from their perspective would therefore be that China agrees to prices closer to the market rate while the EU resumes some of their Russian gas imports after the special operation ends.

    The reality though is that Russia is unlikely to have its cake and eat it too, and there’s no guarantee that either of its two main gas partners – the EU and China – will behave as expected even at a later date. The EU won’t resume any pipeline imports unless it receives approval from the US while China is known to operate on a much longer timeframe than most so it might hold off on clinching a deal indefinitely until Russia finally accepts its bargain-basement price demands. This places Russia in a very bad position.

    Unless something changes, Russia might very well be coerced by the unfortunate circumstances in which it finds itself into agreeing to China’s reported proposal to sell it gas at domestic prices, which could turbocharge China’s superpower rise while placing Russia in a greater position of dependence.

    That might be preferred by Russian decisionmakers over sitting on these reserves indefinitely without receiving any financial benefit from them as sanctions start to create fiscal and monetary challenges.

    From the US’ perspective, it’s worse for Russia to turbocharge China’s superpower rise and enter into a relationship of greater dependence with it that could be exploited by China to procure other resources at equally cheap rates than to allow the partial resumption of Russian exports to Europe. At the same time, such resumptions couldn’t be approved until after the Ukrainian Conflict ends, and this would be politically impossible in any case unless the US could spin the outcome as a victory of sorts over Russia.

    Likewise, Russia couldn’t agree to this arrangement unless it too was able to spin the outcome as a victory, especially if the informal terms include a commitment not to build any new pipelines to China in exchange for the abovementioned proposed resumption overcompensating for that lost revenue. Therein lies the need for creative diplomacy of the kind suggested here last month and here the other day, the insight of which will now be blended, summarized, and built upon for the reader’s convenience.

    The gist is that the US and Russia could agree to a series of mutual compromises culminating in the partial restoration of an energy bridge between Russia and the West for the purpose of depriving China of its envisaged decades-long access to ultra-cheap Russian resources for fueling its superpower rise. No one should assume that everything proposed below will enter into force, but these suggestions could help move their talks along.

    From the US’ side, its possible compromises could take the form of:

    * Ukraine finally holding elections as part of a US-backed “phased leadership transition” against Zelensky, who’s the top obstacle to a lasting peace, and then legitimizing the following two agreements;

    * Ukraine restoring its constitutional neutrality in order to exclude itself from ever joining NATO and thus resolving the core security concern that provoked Russia’s special operation;

    * Ukraine demilitarizing and denazifying everything east of the Dnieper in what had for centuries been Russia’s traditional “sphere of influence” (everything west had traditionally been under Polish influence);

    * The US terminating its bilateral security agreement with Ukraine in order to assure Russia that any cessation of hostilities wouldn’t be a ruse for rearming Ukraine and reigniting the conflict at a later date;

    * The US agreeing that no Western peacekeepers will deploy along the DMZ between Russia and Ukraine east of the Dnieper (all parties might agree to an entirely non-Western peacekeeping mission though);

    * The US also agreeing that Article 5 won’t apply to any Western country whose uniformed troops in Ukraine, which would be unilaterally deployed there in this scenario, come under attack by Russia;

    * The US approving the EU’s partial resumption of Russian gas pipeline imports in order to buoy the bloc’s struggling economy via an influx of low-cost fuel (but higher-priced than what China demands);

    * The US and EU returning some of Russia’s seized assets as “compensation” for the West retaining control over the European portion of its pipelines;

    * The US lifting its sanctions on the Russian-EU energy trade, including Russia’s use of SWIFT, and expanding this to include more countries and spheres as a reward for keeping the peace with Ukraine;

    * The US waiving sanctions on Russia’s Arctic LNG 2 project for itself, the EU, India, and Japan so that they can replace lost Chinese investment and ensure that they receive this gas instead of China;

    * The US replicating the preceding policy on a case-by-case basis to squeeze out and ultimately replace all Chinese investment in Russian energy projects to preclude the possibility of more future exports to it;

    * and the US building upon the trust that it hopes to regain with Russia through these compromises to resume frozen strategic arms control talks on a priority basis before the expiry of the New START in 2026.

    From Russia’s side, its own compromises could take the form of:

    * Agreeing to only the partial demilitarization and denazification of Ukraine west of the Dnieper (ideally with the first influenced by the Istanbul Agreement while the second might remain superficial);

    * Limiting its control of Ukrainian-claimed lands to only Crimea and those four regions that voted to join Russia in September 2022’s referenda;

    * Tacitly accepting that it won’t be able to assert control over the parts of Kherson and Zaporozhye Regions west of the Dnieper but nevertheless continuing to officially maintain such claims;

    * Agreeing to limited military restrictions on its side of the DMZ as a trust-building measure for furthering the rest of the complicated negotiation process and then complying with these terms;

    * Informally agreeing to prioritize the development of its Arctic and Pacific fleets over its Baltic and Black Sea ones in a tacit cession of influence to NATO that soberly reflects the current military realities;

    * Formally acknowledging the loss of control over the EU and Ukrainian portions of its pipeline infrastructure (ideally in exchange for “compensation”, including the return of some of its seized assets);

    * Tacitly accepting that the rest of its seized assets are lost, but possibly agreeing that they can be invested in rebuilding Ukraine and/or Syria or donated to the UN, perhaps to fund a new African project;

    * Informally agreeing not to build new pipelines to China or expand energy exports to it so long as sanctions-waived energy investments from and exports to others overcompensate for that lost revenue;

    * Unofficially preferring sanctions-waived investment from others (America, Europe, India, Japan, South Korea) in its resource-rich Arctic and Far East regions as opposed to that from China;

    * Doing the same with regard to preferring tech imports from them (and Taiwan too, which was Russia’s main source of high-precision machine tools a year ago);

    * Tacitly accepting that these sanctions waivers can be rescinded in an instant if Russia reneges on the Ukrainian or Chinese terms of this proposed grand deal;

    * and negotiating with the US in good faith on strategic arms control, which could ultimately include restoring limits on intermediate-range missiles in Europe that lead to warehousing the mighty Oreshniks.

    For as politically difficult as these compromises might be for each side, the US could spin them as having stopped Russia from controlling all of Ukraine and thus preventing it from planting its boots on the Polish border, while Russia could spin them as having stopped Ukraine from joining NATO and thus preventing that bloc from planting their boots on its exposed western border. Moreover, Russia would relieve pressure upon it in Europe, while the US Navy would control the bulk of China’s energy imports.

    The key to this is the US offering Russia a decent deal in Ukraine with lucrative sanctions-waived energy and tech opportunities that would incentivize Russia into informally agreeing to deprive China of decades-long access to ultra-cheap resources for fueling its superpower rise at the US’ expense. This grand deal is Trump’s to lose, and the world will know that he fumbled it if Russia makes progress on new pipelines to China, which could accompany or be followed by him “escalating to de-escalate”.

    Tyler Durden
    Fri, 01/03/2025 – 23:25

  • Where The US Gets Its Enriched Uranium
    Where The US Gets Its Enriched Uranium

    Nuclear power accounts for 19% of electricity generation in the U.S.

    This graphic, via Visual Capitalist’s Bruno Venditti, illustrates the top sources of enriched uranium for U.S. civilian nuclear power reactors in 2023, based on data from the U.S. Energy Information Administration.

    The calculation is based in Separative Work Unit (SWU), a unit that defines the effort required in the uranium enrichment process.

    U.S. Suppliers of Enriched Uranium

    Uranium production in the United States peaked in 1980, while purchases of uranium by U.S. nuclear power plant operators from domestic suppliers peaked in 1981. Since 1992, the majority of uranium purchased by U.S. nuclear power plant operators has been imported.

    Currently, the U.S. relies on foreign sources for 71.7% of its enriched uranium, despite possessing domestic resources.

    Russia supplies 27.2% of enrichment services, making it the largest single foreign provider for U.S. civilian nuclear power reactors. After Russia, 12% of enriched uranium comes from France, 8% from the Netherlands, and 7% from the United Kingdom.

     

    Russia Temporarily Limits Exports

     

    In November 2024, Russia temporarily restricted enriched uranium exports to the U.S., raising concerns about potential supply risks for utilities operating American reactors. These restrictions were in response to Washington’s recent ban on imports of Russian uranium, which was signed into law earlier this year.

    In addition to the U.S., Russia is a major exporter of enriched uranium to countries including China, South Korea, and France.

    If you enjoyed this topic, check out this graphic showing oil and gas leases on public lands under Obama, Trump, and Biden.

    Tyler Durden
    Fri, 01/03/2025 – 23:00

  • Democrats Rewrite History To Praise Jimmy Carter
    Democrats Rewrite History To Praise Jimmy Carter

    Authored by Francis P. Sempa via RealClearDefense,

    Tom Donilon, President Barack Obama’s national security adviser from 2010 to 2013, attempts to rewrite history on the Foreign Affairs website to praise Jimmy Carter as a great foreign policy president. We “learn” from Donilon that Carter left a legacy of peace in the Middle East with the Camp David Accords, enhanced U.S. security in the broader Persian Gulf region by proclaiming the Carter Doctrine, deftly managed our relationship with China by advancing the “one China” policy and ensured the ultimate downfall of the Soviet Union. One wonders why American voters overwhelmingly rejected Carter in 1980 after he accomplished so much (according to Donilon).

    There was a time when Democrats had the courage to distance themselves from a failed foreign policy by a president of their own party—and that time was in the late 1970s. The list of prominent Democrats who supported GOP candidate Ronald Reagan over Carter in the 1980 election because of Carter’s failed foreign policy was long and distinguished, and included the likes of Paul Nitze, Jeane Kirkpatrick, Max Kampelman, Norman Podhoretz, Lane Kirkland, Eugene Rostow, Richard Perle, Richard Pipes, and Elliot Abrams, among others. Many of these were known then as “Scoop Jackson Democrats,” named after the long-serving Senator from the state of Washington Henry M. Jackson, a key member of the Armed Services Committee. Scoop Jackson was one of the nation’s chief critics of détente, especially as practiced by the Carter administration. Scoop Jackson was on Reagan’s transition team. Kirkpatrick, Rostow, Perle, Abrams, Pipes and Nitze all joined Reagan’s national security team.

    The first major Democratic salvo against Carter’s foreign policy was fired by Jeane Kirkpatrick in an article in Commentary in 1979 titled “Dictatorships  and Double Standards.” Kirkpatrick’s first sentence set the theme of the article: “The failure of the Carter administration’s foreign policy is now clear to everyone except its architects, and even they must entertain private doubts, from time to time, about a policy whose crowning achievement has been to lay the groundwork for a transfer of the Panama Canal from the United States to a swaggering Latin dictator of Castroite bent.” Kirkpatrick criticized Carter for failing to adequately respond to a massive Soviet conventional and military build-up, watching as the Soviets extended their political influence in Africa, Afghanistan, and the Caribbean Sea, and undermining long-time U.S. allies in Nicaragua and Iran to the detriment of U.S. security interests. Carter, she said, wielded the cudgel of “human rights” against America’s allies regardless of the strategic consequences.

    But even before Kirkpatrick’s article, Carter set the theme of his approach to  foreign policy in an address at Notre Dame early in his presidency, when he proclaimed that he “believe[d] in détente with the Soviet Union,” and apologized for “abandoning our own values” for those of our adversaries. (The Obama administration, when Donilon was deputy national security adviser, infamously engaged in its own “apology tour”). Carter then uttered a line that wins the prize for foreign policy naivete: “Being confident of our own future, we are now free of that inordinate fear of communism which once led us to embrace any dictator who joined us in that fear.” The Soviets, the Sandinistas in Nicaragua, and the mullahs in Iran, as well as our allies, were undoubtedly listening.

    Carter also ordered the removal of U.S. nuclear weapons from South Korea, then announced his intention to withdraw all U.S. ground forces from South Korea. “Carter made these decisions,” Steven Hayward noted, “without any consultation with the Pentagon, congressional leaders, the South Koreans, or any other U.S. allies, most notably Japan, which was shocked by Carter’s decision.” Carter was forced to abandon these decisions by public outcry from military leaders and members of congress. He followed that up by cutting the defense budget (which had been declining since the end of the Vietnam War) by $6 billion. Later, when Carter signed the SALT II Treaty with the Soviets, leading Democratic Senators, including Scoop Jackson and Daniel Patrick Moynihan, opposed ratification, which forced Carter to withdraw the treaty from consideration.

    The next major salvo came from Commentary’s editor Norman Podhoretz in his small but influential book The Present Danger. Podhoretz characterized Carter’s foreign policy as “strategic retreat” which involved a “steady process of accommodation to Soviet wishes and demands.” He noted that Carter’s Secretary of State Cyrus Vance stated that the United States and Soviet Union had “similar dreams and aspirations.” Arms control became the centerpiece of Carter’s defense policy as he “delay[ed] or cancel[ed] production of one new weapons system after another—the B-1 bomber, the neutron bomb, the MX, the Trident—while the Soviet Union went on increasing and refining its arsenal.” When Carter did nothing to prevent the fall of the Shah in Iran (despite being urged to do something by National Security Adviser Zbigniew Brzezinski), the administration characterized the non-response as “mature restraint” (and Carter’s UN Ambassador Andrew Young called Ayatollah Khomeini a “saint”) but Podhoretz more accurately called it a “culture of appeasement.” We have been dealing with the consequences of Carter’s “mature restraint” for 45 years.

    When the Soviet Union invaded Afghanistan, Carter expressed surprise that the Kremlin would invade another country. The reality of Soviet perfidy caused Carter to reverse course to an extent (which Donilon emphasizes in his article), but by then it was too late. A disastrous failed rescue attempt of the American hostages in Iran came to symbolize Carter’s entire foreign policy.  

    Donilon is wrong in every aspect of his praise for Carter. The success of the Camp David Accords (for which Nixon, Ford, and Kissinger had laid the groundwork) pales in comparison to the loss of Iran as a strategic ally in the region. Carter’s “management” of China needn’t have included ending formal relations with Taiwan (and Carter only reluctantly signed the Tawain Relations Act which was championed by GOP Senator Barry Goldwater). Donilon’s claim that Carter ensured the downfall of the Soviet Union is, frankly, laughable. Carter was in the process of losing the Cold War when the voters kicked him out of office in favor of Ronald Reagan—who, contrary to Donilon, deserves the most credit for winning the Cold War.  

    As Steven Hayward noted in The Age of Reagan, “It is difficult to understate the completeness of the disaster of Carter’s presidency.” Hayward judged Carter’s foreign policy even more disastrous than his domestic policy which saw the dangerous rise of the economic “misery index.” “Carter came to be regarded, Hayward wrote, “as the American Neville Chamberlain” who demonstrated a “general incapacity to perceive and act according to the geopolitical realities of the moment.” That, not Tom Donilon’s fairy tale, is Carter’s true foreign policy legacy.

    Francis P. Sempa writes on foreign policy and geopolitics. His Best Defense columns appear at the beginning of each month. 

    Tyler Durden
    Fri, 01/03/2025 – 22:35

  • New High-Resolution Renderings Of China's 6th-Generation Tactical Fighter Bomber
    New High-Resolution Renderings Of China’s 6th-Generation Tactical Fighter Bomber

    China’s ability to leapfrog current 5th-generation military aviation technology, like the West’s F-22 Raptor and F-35 Lightning II, to 6th-generation fighters and fighter bombers, recently prompted Deutsche Bank analyst Scott Deuschle to issue an alarming note titled, “A Wake-Up Call for Sixth Gen.”

    On Dec. 26, footage of China’s next-generation tactical fighter-bomber, expected to replace the Xi’an JH-7, surfaced on Chinese social media before appearing on X. The diamond-shaped wing design left military observers across the West stunned.

    DB’s Deuschle characterized China’s rapid advancements in sixth-generation combat aircraft as a serious “wake-up call” for the United States Air Force. This development comes amid a race between the US, China, and Russia to produce fifth—and sixth-generation fighters, bombers, and hypersonic weapons. 

    “China has finished developing all planned 5th gen fighters. Hence, our 6th generation fighter will be moving along according to schedule,” Zhao DaShuai, a member of the People’s Armed Police Propaganda Bureau, recently noted on X. 

    In other words, China appears to have leapfrogged 5th-generation technology to 6th-generation technology, while the West sabotages its military capabilities with wokiesm and Marxist diversity and ESG climate change policies. The problem with the West is that Hollywood makes fantasy films about these sixth-generation jets. 

    … while China appears to make real planes. 

    “High-resolution renders of China’s next-generation J-36 stealth fighter have surfaced, offering a glimpse into the potential design of the 6th-generation aircraft,” X user DD Geopolitics wrote. 

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

    Perhaps wokeism and de-growth ESG policies across the West were never actually intended to work but rather undermine the US and Europe and allow China to surpass the West, both economically and militarily, without firing a shot.

    Don’t even get us started about China’s ‘reverse opium wars‘… 

    Tyler Durden
    Fri, 01/03/2025 – 22:10

  • NASA Discovered Planet Bigger Than Earth With A Gas That Is "Only Produced By Life"
    NASA Discovered Planet Bigger Than Earth With A Gas That Is “Only Produced By Life”

    Via The Mind Unleashed,

    Imagine staring at the night sky, knowing that somewhere out there, a world exists where the air holds the faint whispers of life—a clue so rare and extraordinary that it could rewrite our understanding of the cosmos. NASA’s latest discovery might just be that world: a planet larger than Earth, shrouded in a gas that, on our own planet, is only produced by living organisms.

    What does it mean for humanity if this alien gas signals the presence of life beyond Earth? Could this discovery be the first step toward answering one of our oldest and most profound questions: Are we truly alone in the universe?

    The Planet: Bigger, Mysterious, and Full of Promise

    Orbiting a distant star in a quiet corner of the galaxy, this newly discovered planet captivates astronomers with its sheer scale and unique characteristics. Towering over Earth in both mass and diameter, it has been dubbed a “super-Earth” due to its size and rocky composition. Yet, what truly makes this planet extraordinary is its position within the “Goldilocks zone,” a delicate orbital range where temperatures are just right for liquid water—a crucial ingredient for life as we know it—to exist. This tantalizing detail has elevated the planet from another exoplanet in the vast catalog of discoveries to one of the most intriguing celestial bodies observed in recent years.

    Unlike Earth’s picturesque landscape of oceans, continents, and clouds, this exoplanet’s atmosphere presents an enigmatic profile. Early observations suggest a thick, possibly turbulent atmospheric layer rich in gases that are not yet fully understood. Among these, however, one chemical signature has stunned scientists—a gas that, on Earth, is almost exclusively associated with biological processes. Its detection has turned this planet into more than just a geological wonder; it has become a potential beacon of life beyond our solar system. The mere presence of this gas raises profound questions: Is it possible that life, in some form, has taken root on this distant world? Or could there be unknown processes creating this chemical signature in ways we cannot yet imagine?

    This remarkable find was made possible through the use of state-of-the-art telescopic technology, designed to detect minute changes in light and chemical signatures from planets light-years away. Over the years, NASA has identified thousands of exoplanets, many of which have hinted at habitability, but few have displayed such promising signs of life as this discovery. The scale and conditions of this planet make it a cosmic enigma—a riddle begging to be solved. For scientists and dreamers alike, it represents more than a distant world; it’s a keyhole through which we may glimpse answers to one of humanity’s greatest mysteries: Are we alone?

    The Gas of Life: A Clue to Something Greater

    Amid the swirling gases of the planet’s atmosphere lies a clue so profound that it has sent shockwaves through the scientific community—a gas that, on Earth, is exclusively tied to biological activity. Known as [gas name, e.g., phosphine or methane], this compound is a byproduct of life, produced through processes as diverse as microbial activity in swamps to the digestion of food by animals. Its detection on a planet orbiting a distant star raises a tantalizing possibility: could there be life—however alien—thriving on this massive exoplanet?

    On Earth, the presence of this gas is unmistakably linked to living organisms, a fact that makes its detection on another world all the more remarkable. Scientists have painstakingly ruled out non-biological sources that might explain its presence, such as volcanic activity or chemical reactions in the atmosphere, adding weight to the hypothesis that life might be at play. The sheer improbability of this discovery has turned this planet into a case study, forcing researchers to reevaluate what they thought they knew about life’s potential in the cosmos.

    However, the presence of this gas doesn’t offer definitive proof of extraterrestrial life—yet. It is a puzzle layered with complexity. Could there be an entirely unknown geological or chemical process at work on this distant planet, creating the illusion of a biosignature? Or is this gas the interstellar equivalent of a fingerprint left by alien microbes or organisms? These questions underscore the monumental challenge of interpreting data from light-years away. What is clear, however, is that this discovery represents a milestone in astrobiology, offering a tangible lead in the search for life beyond Earth—a clue that dares us to imagine what might be out there.

    Tools of Discovery: Cutting-Edge Technology

    Revealing the secrets of a planet located light-years away requires more than just powerful telescopes; it demands technological ingenuity and relentless human curiosity. NASA’s discovery of this remarkable exoplanet and its life-associated gas was made possible through advanced tools like the James Webb Space Telescope (JWST) and spectroscopic analysis. These technologies allow scientists to analyze the faint starlight filtering through a planet’s atmosphere, breaking it down into its chemical components with incredible precision. It is this groundbreaking capability that unveiled the presence of [specific gas] on this distant super-Earth.

    The James Webb Space Telescope, equipped with state-of-the-art infrared sensors, played a pivotal role in identifying the molecular fingerprint of the gas. These sensors are capable of detecting subtle changes in light caused by specific gases in a planet’s atmosphere, even from billions of miles away. This method, known as transit spectroscopy, involves observing the planet as it passes in front of its host star, capturing data that would otherwise remain hidden to human eyes. For scientists, every beam of light becomes a treasure trove of information, holding clues about the composition, temperature, and potential habitability of alien worlds.

    While the technology is astonishing, its application also speaks to the brilliance of the scientific minds behind it. The data collected from this exoplanet underwent rigorous analysis, with teams working tirelessly to confirm that the detected gas could not be attributed to non-biological sources. This meticulous process underscores the reliability of the findings, making this discovery one of the most robust yet in the search for extraterrestrial life. By pushing the boundaries of what we can observe and interpret from across the cosmos, tools like the JWST not only expand our knowledge but also ignite hope that we may one day find definitive proof of life beyond Earth.

    Implications for Life Beyond Earth

    The discovery of a gas linked to biological activity on a distant planet has profound implications, not only for science but for humanity’s understanding of its place in the universe. On Earth, this gas is a hallmark of living processes, from microbial life to complex organisms. Its detection in the atmosphere of an exoplanet raises one of the most tantalizing possibilities in modern science: that life, in some form, exists beyond our home planet. But what might that life look like? Could it mirror the microbes that first emerged on Earth billions of years ago, or is it something far beyond human imagination?

    This discovery challenges the notion that Earth is unique in its ability to harbor life. For decades, the search for extraterrestrial life has focused on identifying “habitable zones” and Earth-like conditions. Yet the existence of this gas suggests that life might not require a mirror image of our planet to thrive. It could evolve under entirely different circumstances, adapting to conditions we might consider inhospitable. Such a possibility broadens the scope of the search, encouraging scientists to rethink where and how they look for signs of life in the universe.

    The philosophical implications are equally profound. If life exists elsewhere, it forces humanity to confront questions about its uniqueness, purpose, and future. How might this knowledge reshape our understanding of biology, evolution, and the interconnectedness of all living things? This discovery doesn’t just point to the stars—it asks us to look inward, to consider how the existence of extraterrestrial life might redefine our understanding of ourselves. For scientists and dreamers alike, it’s a reminder that the cosmos holds infinite mysteries, and this discovery may be the first step toward unraveling one of its greatest secrets.

    The Bigger Picture: Humanity’s Quest for Answers

    Throughout history, humanity has gazed at the stars, yearning for answers to the profound question: Are we alone in the universe? This discovery, with its potential to signal the existence of life beyond Earth, represents a pivotal chapter in that quest. It is not just a scientific breakthrough; it is a moment that transcends disciplines, blending biology, chemistry, and astronomy with philosophy and the human spirit of exploration.

    If the gas detected truly points to biological processes, it will fundamentally reshape our understanding of life’s prevalence and resilience. It challenges the notion that life is a rare, Earth-bound phenomenon and hints at a universe teeming with possibilities. Such a revelation could unite humanity, sparking a collective curiosity and sense of purpose that transcends borders, ideologies, and generations. It reminds us that, despite our differences, we all share the same desire to explore, discover, and understand.

    But even if life is not confirmed, the implications remain extraordinary. This discovery demonstrates the capabilities of human ingenuity and the relentless drive to push boundaries. It proves that, as a species, we are capable of asking bold questions and seeking answers in the vast unknown. In many ways, the search for life beyond Earth is also a search for meaning—a journey that reflects our deepest hopes and dreams, as much about us as it is about the cosmos. Whether this planet holds the key to extraterrestrial life or simply deepens the mystery, it reaffirms one undeniable truth: the universe is a place of endless wonder, and our journey to understand it has only just begun.

    Tyler Durden
    Fri, 01/03/2025 – 21:45

  • Manufacturing Dissent
    Manufacturing Dissent

    Authored by Josh Stylman via The Brownstone Institute,

    As I often do on Sunday mornings, I was drinking my coffee and scrolling through my news feed when I noticed something striking. Maybe it’s my algorithm, but the content was flooded with an unusual amount of vitriol directed at Robert F. Kennedy, Jr.’s nomination as HHS Secretary.

    The coordinated messaging was impossible to miss—talking heads across networks uniformly labeling him a “conspiracy theorist” and “danger to public health,” never once addressing his actual positions. The media’s concerted attacks on Kennedy reveal more than just their opinion of his nomination—they expose a deeper crisis of credibility within institutions that once commanded public trust.

    The Credibility Paradox

    The irony of who led these attacks wasn’t lost on me—these were largely the same voices who championed our most destructive pandemic policies.

    As Jeffrey Tucker aptly noted on X this morning:

    The Coordinated Response

    This hypocrisy becomes even more glaring in the New York Times’ recent coverage, where dismissive rhetoric consistently replaces substantive engagement. In one piece, they acknowledge troubling trends in children’s health while dismissively declaring “vaccines and fluoride are not the cause” without engaging his evidence. In another, Zeynep Tufekci—who notably advocated for some of the most draconian Covid measures—warns that Kennedy could “destroy one of civilization’s best achievements,” painting apocalyptic scenarios while sidestepping his actual policy positions.

    Meanwhile, their political desk speculates about how his stance on Big Food might “alienate his GOP allies.” Each piece approaches from a different angle, but the pattern is clear: coordinated messaging aimed at undermining his credibility before he can assume institutional authority.

    The Echo Chamber Effect

    You can almost hear the editorial conveyor belt opening as senior editors craft the day’s approved reality for their audience. The consistent tone across pieces reveals less independent analysis than a familiar pattern—mockingbird media still in action. As I detailed in How The Information Factory Evolved, this assembly-line approach to reality manufacturing has become increasingly visible to anyone paying attention.

    What these gatekeepers fail to grasp is that this smug dismissiveness, this refusal to engage with substantive arguments, is precisely what fuels growing public skepticism. Their panic seems to grow in direct proportion to Kennedy’s proximity to real power. This orchestrated dismissal is more than a journalistic flaw—it reflects a larger institutional dilemma, one that becomes unavoidable as Kennedy gains traction.

    The Institutional Trap

    The Times faces an emerging dilemma: at some point, they’ll need to address the substance of Kennedy’s arguments rather than rely on dismissive characterizations—especially if he assumes control of America’s health apparatus. Just this morning, MSNBC anchors were literally shouting that “Kennedy is going to get people killed”—yet another example of using melodramatics and fear instead of engaging with his actual positions. Their reflexive ridicule strategy backfires precisely because it avoids engaging with the evidence and concerns that resonate with parents and citizens across political lines. Each attempt to maintain narrative control through authority rather than evidence accelerates institutional credibility collapse.

    Beyond Kennedy: Redrawing Political Lines

    The NYT’s analysis about Kennedy potentially alienating GOP allies particularly highlights their fundamental misunderstanding of the shifting political landscape. As a lifelong Democrat who still champions many traditional progressive values, Kennedy transcends conventional political boundaries. His message—”We have to love our children more than we hate each other”—resonates precisely because anyone who dismisses this crusade to restore American vitality as mere political theater is blind to the groundswell of people who’ve grown tired of watching their communities crumble under the weight of manufactured decline.

    This isn’t just about Kennedy—it’s about the media’s inability to address the legitimate concerns of a disillusioned public. When institutions refuse to engage with dissenting voices, they deepen mistrust and fracture the shared foundation necessary for democratic discourse. While RFK, Jr.’s message has resonated across political boundaries, the media’s inability to address core issues—like regulatory failures—reveals just how out of touch they’ve become.

    The Art of Missing the Point

    Consider this fact-check from the same article: The Times attempts to discredit Kennedy’s Fruit Loops example, but inadvertently confirms his central point: ingredients banned in European markets are indeed permitted in American products. By focusing on semantic precision instead of the broader issue—why US regulators allow unsafe ingredients—the media deflects from substantive debates.

    Senator Elizabeth Warren declared this week: “RFK Jr. poses a danger to public health, scientific research, medicine, and health care coverage for millions. He wants to stop parents from protecting their babies from measles and his ideas would welcome the return of polio.” Yet this alarmist framing dodges the simple question Kennedy actually raises: Why wouldn’t you want proper safety testing for chemicals we’re expected to inject into our children’s bodies? The silence in response to this basic inquiry speaks volumes about institutional priorities—and their fear of someone with the power to demand answers.

    A Referendum on Manufacturing Consent

    Say what you want about Trump, but his “fake news” remarks struck a chord that resonates deeper with each passing day. People who once scoffed at these claims are now watching with eyes wide open as coordinated narratives unfold across media platforms. The gaslighting has become too obvious to ignore. As I explored in We Didn’t Change, The Democratic Party Did, this awakening transcends traditional political boundaries. Americans across the spectrum are tired of being told not to believe their own eyes, whether it’s about pandemic policies, economic realities, or the suppression of dissenting voices.

    “The party told you to reject the evidence of your eyes and ears. 

    It was their final, most essential command.”

    –George Orwell, 1984

    The Moment of Truth

    With Kennedy potentially overseeing America’s health infrastructure, media institutions face a crucial inflection point. Fear campaigns and ad hominem attacks won’t suffice when his policy positions require serious examination. The machinery of coordinated dismissal—visible in identical talking points across networks—reveals more about institutional allegiance than journalistic integrity.

    This moment demands something different. When Kennedy raises questions about pharmaceutical safety testing or environmental toxins—issues that resonate with families across political lines—substantive debate must replace reflexive ridicule. His actual positions, heard directly rather than through media filters, often align with common-sense concerns about corporate influence on public health policy.

    This institutional pattern of manufactured authority connects directly to themes I explored in Fiat Everything earlier this week—systems built on decree rather than demonstrated value. They don’t sell weapons—they sell fear. The same forces that control monetary policy now seek to dictate public health discourse.

    Breaking the Machine

    The solution won’t come from institutional gatekeepers (that’s what got us here) but direct examination. We all need to:

    • Listen to Kennedy’s complete speeches rather than edited soundbites

    • Read his policy positions rather than media characterizations

    • Examine the evidence he cites rather than fact-checker summaries

    • Consider why certain questions about public health policy are deemed off-limits

    I’m not suggesting we accept every contrarian position, but rather that institutional credibility must be earned through rigorous analysis rather than assumed through authority. Until then, coverage like these recent Times pieces will continue to exemplify the very institutional failures that fuel the movements they seek to discredit. As Kennedy approaches real institutional power, expect these attacks to intensify—a clear signal of just how much the guardians of our manufactured consensus have to lose.

    Republished from the author’s Substack

    Tyler Durden
    Fri, 01/03/2025 – 21:20

  • Why Property Tax Is Illegal
    Why Property Tax Is Illegal

    Submitted by Mitch Vexler, President G.P. of Mockingbird Properties

    “I sincerely believe that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale” – Thomas Jefferson, 1816

    “They who can give up essential Liberty to obtain a little temporary Safety, deserve neither Liberty nor Safety” – Benjamin Franklin

    Issue #1

    One can argue the 16th Amendment going back to 1913 and we are prepared to do so.  The quantified evidence that we have assembled over several years of lawsuits points to exactly why the law as originally written prohibits taxation on unrealized gains. “Market value” as created by the States from which an Assessed Taxable Value is denoted, is in fact an unrealized gain. 

    Although perhaps well intentioned in its debut, property tax has been made illegal because there are no longer any enforced laws protecting the rights of the real estate taxpaying Citizens.

    Let us hold the following to be true:

    1. There are 3,143 Counties in the United States and the vast majority of them under State Law require Uniform Standards of Professional Appraisal Practice (USPAP) and Mass Appraisal Standards.

    2. USPAP is rendered meaningless as it is not followed in favor of hand overwriting property values outside the confines of any law or proper appraisal method.

    3. An Implicit guarantee, as claimed by the Taxing Entities (for example, School District Bonds), for which there is no signature, is not implicit. 

    4. Contracts made under duress are unenforceable; “voluntary consent” requires adequate information, lack of coercion, force, manipulation, or intimidation, and the freedom to revoke consent at any time.

    5. If Fraud is discovered, contracts are void.

    6. States and Central Appraisal Districts across the U.S. have violated USPAP, which in many States is a 3rd degree felony for those who signed an Oath of Office.

    7. States and Central Appraisal Districts across the U.S. have violated Mass Appraisal Standards (USPAP Standards 5 & 6).

    8. Many school districts refuse to make public their bond schedules, balance sheet with proper notes, and a sources and uses schedule of the bond proceeds.  We have discovered a compound cumulative effect of not retiring the bond debt but rolling it out and rolling the interest rate up.

    9. States and Central Appraisal Districts have violated State Property Tax Codes, for example, in Texas sections 23.01(b) & 23.01(e) to identify a few. (not all inclusive)

    10. States, Taxing Entities (school districts, cities, counties, special districts, etc.), Central Appraisal Districts across the U.S. have violated State Constitutions – Uniform and Equal (Texas) – Board of Equalization in California.

    11. Real Estate Taxpayers (Single Family, Multifamily, Commercial, Land Owners) have had their rights to due process under the 5th and 14th Amendments violated as the recourse to prohibit the equity stripping and theft of taxpayer money has been rendered impossible by the intentional layering of gauntlets such as the Appraisal Review Panels which are comprised mostly of senior citizens who know nothing about appraisal law (USPAP and property tax code) or math.

    12. “Pay your taxes or we will take your house” (We have testimony & audio evidence.)

    13. “Go get a second job to pay your taxes” (We have testimony & audio evidence.)

    14. “We took 60,000 properties out of the database, manipulated them in excel and put them back” Chief Appraiser, Denton Central Appraisal District, County Texas. (We have this recording.)

    15. We calculated that in the last 5 years, roughly $21.2 Trillion of fraudulent property valuation (roughly double in the last 5 years alone) has been created, which resulted in roughly $450 Billion in over taxation paid by Mom and Pop in 2024.

    16. As seen in the graphic below, each homeowner in the U.S. owes roughly $1.3 million of U.S. National Debt, Unfunded Liabilities plus Local Taxing Entity Debt, which if amortized over 25 years at 6.25% would require that your income increase by $9,000 per month immediately which is not possible to pay off. (wording)

    17. The above violates the U.S. Constitution 1st, 5th, 14th, and 16th Amendments.

    18. The above equates to State and Federal RICO crimes throughout the majority of States.

    19. The U.S. Constitution trumps State Law under the Supremacy Clause which exists to prohibit a State from violating its own Constitution.

    If property valuation were true, requiring a willing buyer and willing seller neither under duress, and cash settled, then the maximum value assigned could only be what the house was built for or what the house was purchased for, until such time as the house is sold.

    The laws and violations thereof have morphed to the point where the cash grab of the local Taxing Entities (i.e. School Districts) have rendered meaningless all the protections in law that were established to protect the Citizen real estate taxpayers, and this has an extreme fraudulent inflation factor.  There are 8 elements of real estate tax in the milk that goes in your cappuccino.  Therefore real estate tax fraud on a mass scale effects every person who shops whether they realize it or not.  The more elements of tax, the higher the inflation, the higher the fraud.

    If those protections are going to be ignored (USPAP, State Property Tax Code, State Constitutions and U.S. Constitution), then the net result is the equity stripping of property taxpayers, such that if there is no law, then why pay real estate taxes.   In other words, either the law exists, or it doesn’t.  Equity Stripping is the compound cumulative effect of paying a fraudulently created overvaluation resulting in over taxation and this means that making money on the purchase of your home has a very low probability of success because the Taxing Entities took your profit by over taxation via the fraud.

    If those protections under the law are going to be adhered to, then those responsible for violating the laws must be held accountable.  The Taxing Entities (i.e. School Districts) are hiding the bond schedules from the public, which would show that the bonds are not being paid off and that the cumulative compounding of debt and interest is occurring.  Many school districts will need to be put into involuntary bankruptcy to unwind what debt can be unwound.  We have discovered that there are roughly 143,000,000 single family homes in the U.S. which are burdened by roughly $240,000 of school bond debt. 

    Either the law exists, your Honor, or it doesn’t.  Please state the obvious which is that the law exists, for the protection of the Citizens, and if not, which has clearly been proven, or we would not be in front of the Appellate Court, then eliminating property taxes in favor of a Uniform States Sales Tax (estimate approximately 15.6%) must be implemented to ensure the protections of the Citizens. Return the balance sheet to Mom and Pop, restore transparency by eliminating the real estate tax fraud, and make the playing field fair for all real estate taxpayers and reduce the fraudulently created inflation simultaneously.

    Issue #2

    Several well-known people on YouTube interviewed me and in one of those videos I asked… “Mr. Spencer (Chief Appraiser Denton County/Central Appraisal District), what is to stop you or any Chief Appraiser from raising the values in 2025 to infinity?” Given that the values are irrefutably created by hand outside any requirements in USPAP, Mass Appraisal Standards, State Property Tax Code, State Constitution and U.S. Constitution, the answer would be nothing.  We now have further proof of such a criminal position, which is the November 22, 2024 article that exposes the Montgomery County Assessor in Central Illinois wherein an attempted theft of an approximate 1,400% increase in real estate taxes for 2025 was on the table.  To be crystal clear, real estate valuation that adheres to the law is based on quantified analysis of true comparisons, not meeting pre-determined budgets handed to the Chief Appraisers by the Taxing Entities, where many of those Taxing Entities are bankrupt. So, to keep the illusion going is just burning money and is not going to the benefit of students (lower test scores, lower enrollment, closing schools) but rather intended to protect the pensions.  It is a form of a second social security. 

    Are the homeowners responsible for the actions of the School District?   NO!

    Real Estate Taxpayers have been dupped by omission.  When bonds are raised by the school districts, big money is spent in advertising to pull the wool over the eyes of the trusting public, to the point where now roughly 30% of the households will go bankrupt or lose the roof over their head, because of the cash grab at the hands of the Central Appraisal Districts and their owners, the Taxing Entities (i.e. school districts).

    Even when ordered by the State Attorney General to turn over the Bond Schedule, we have yet to see a single bond schedule, balance sheet with proper notes, and a sources and uses, which is what should be required as part of the process of raising bond money.  The appropriate solution, for this intentional omission and pattern and practice to deceive, is to file the School Districts into involuntary bankruptcy and then sue each person who signed an Oath and hold the attorneys responsible (officers of the court) for violating taxpayers’ rights under both Federal and State Constitutions, as well as pressing criminal charges and disbarment.  The main point being… put the school districts into bankruptcy.  At the State level the equity stripping of Mom and Pop has now herein been laid bare. 

    If you think the above is bad, but wait, there is more!

    Who purchased the school bonds? Could it be 401Ks and Pensions?  Who owns the 401Ks and Pensions?  Mom and Pop.   What due diligence was done by the purchasers of the school bonds to determine the true value and value at risk?  

    A school district in Texas with an alleged balance sheet of $8 million has effectively bankrolled the private development of two 2,000-acre solar fields, via 313 Agreements promoted by the State Comptroller.  Are the taxpayers obligated to pay for this fraud on the public, where there is no guaranteed return on investment or guaranteed return of investment?   NO!

    Did the real estate taxpaying citizens agree to fund the non-reduction of bond debt which is intentionally hidden from the public such that even the State of Texas does not know how much debt is being retired but does know that six to twelve billion is being raised every six months?  NO!

    These problems are not just Texas specific but are across the vast majority of the U.S. because USPAP (the law) is being ignored in favor of unfettered theft of taxpayer money.

    Issue #3 – Average Annual Housing Expenses vs Debt (Federal and Local Taxing Entities)

    The U.S. Bureau of Labor Statistics reports that the average annual household expenditures were $77,280 (or $6640/month) in 2023, with the largest share going toward housing costs, with property taxes being a significant portion of the cost of housing.  Others have crunched the numbers and have shown that for a family of four the average monthly expenditures are between $8450 and $9817, or $101,400 to $117,804 annually.

    So, if the average household needs to earn between $77,280 to $117,804 annually to cover a monthly living cost between $6640 and $9817, how can households also cover an additional $9000/month or $108,000 per year in “implicit debt guarantees” resulting from the excessive debt existing at the Local & Federal levels.

    The household median income for 2023 was reported at $80,610 by census.gov. So clearly, if their cost of living was $77,280 as stated by the USLBS, they are not saving much (maybe $3000 a year), nor can they cover the implicit debt guarantee of $9000 PER MONTH.

    The chart below shows the math behind the $9000 per month of the Local and Federal debt burden, implicit guarantee, using Denton County Texas households as the example population group.

    Issue #4

    The 16th Amendment to the U.S. Constitution does not provide for, nor state, that all land is owned by the Federal Government.  In fact, the war of 1812 was fought to prohibit this exact action.   Real Estate Property Owners have been relegated to paying rent on the dirt below their asset, and yet there is no agreed to ground lease with any State government as the Lessor and a property owner as the Lessee.   Can anyone show you or me where the Taxing Entities are the ground Lessor in any Taxing County in the United States such as the Lands of His Majesty King Kamehameha III in Hawaii which date back to 1848?   NO!   

    Given the above and given the testimony from across the U.S. that is coming to our office daily, it is clear that Mom and Pop are being taxed out of their homes.  What was once the balance sheet of Mom and Pop being a home with a declining debt balance to eventually zero, is no longer possible, making retirement for many impossible.  The current situation, including a Military Veteran in Ohio, named Bob, who is 85 years old, on fixed income who bought his home for $24,000, is now being commanded to pay $3,100 in property tax which is money he does not have.  What is the benefit to moving this man to senior care that he does not need or want on the dime of the real estate taxpayer at an approximate cost of $80,000 per year??   We have quantified that roughly 72% of the single-family homeowners cannot afford what the Central Appraisal Districts claim as the median value of a home which proves the fraud on its face.  The system has become so irretrievably corrupt, that the only solution is the elimination of property taxes in favor of a Uniform States Sales Tax.  The balance sheet of home ownership (Mom and Pop being the economic engine of the U.S.) must be reinstated so that when the property is sold, a potential profit is achievable for purposes of retirement and not to force people out of their homes (MF and Single Family) because they can’t afford the fraudulent induced real estate taxes.  If not, the system of fraud has effectively bankrupted the vast majority of its Citizens as well as the Taxing Entities (by their own hand) such that the debt on the Federal and or Local level cannot be paid off.   It is time to put those responsible in jail.  The District Attorneys need to do their job and if they don’t, they are part of the problem.  State and Federal RICO laws are clear, and the map is the list I provided at the beginning of this discussion.  The evidence is at www.mockingbirdproperties.com/dcad.

    What can Mom and Pop do right now to help themselves?  Travis Spencer wrote a FREE Course available at  https://real-estate-mindset-homebuying-101.teachable.com/ to explain how to create true property comparisons to be used at an Appraisal Review Board meeting. 

    In addition to the webpage at www.mockingbirdproperties.com/dcad, we have a full library behind the wall designed for attorneys and accountants wishing to dig into the filings, articles and math models.  Please email me for the password.

    Resources to understand the depth of the problem:

    Tyler Durden
    Fri, 01/03/2025 – 20:55

  • John Wick Rolex Watch Stolen From Keanu Reeves' Hollywood Hills Home Recovered During Police Raid In Chile
    John Wick Rolex Watch Stolen From Keanu Reeves’ Hollywood Hills Home Recovered During Police Raid In Chile

    Authored by Audrey Enjoli via The Epoch Times (emphasis ours),

    Chilean authorities say they have recovered an engraved Rolex watch believed to have been stolen from actor Keanu Reeves’s Los Angeles home in December 2023.

    On Saturday, the Chilean Investigative Police (PDI) announced on X that detectives had seized various pieces of jewelry, valuable watches, and other stolen items in Peñalolén, a commune in Santiago, Chile.

    “A watch belonging to a famous movie actor, the victim of a robbery in Los Angeles,” was among the more than a dozen watches recovered, police said.

    The Rolex Submariner, valued at over $9,000, according to the Swiss luxury brand’s website, features the engraved words “The John Wick Five. Keanu Thank You. JW4. 2021” on the back.

    Reeves, who played the titular character in the “John Wick” film franchise, gifted customized Rolex Submariner watches to the four stunt performers he worked with on “John Wick: Chapter 4,” which premiered in theaters in March 2023.

    According to CNN Chile, the PDI conducted raids on four homes in Peñalolén, recovering a total of three watches that belonged to the 60-year-old actor.

    “There are two watches in particular that have the inscription referring to actor Keanu Reeves,” Hugo Haeger Bórquez, the deputy director of police and criminal investigation at the PDI, said during a press conference.

    “Along with our counterparts in the United States, through Interpol, it was determined that he was a victim of theft in his home in 2023 when he lost nearly $7 million.”

    Speaking to Chilean broadcaster TVN on Monday, PDI Inspector Marcelo Dibarrat said Chilean authorities are working with the Los Angeles Police Department to return Reeves’s stolen property to him.

    Officers with the PDI arrested a 21-year-old man during the Peñalolén raid, though his identity has not yet been released.

    Dibarrat told TVN that the suspect claimed at the time of his arrest that his brother had been the perpetrator of the theft of Reeves’s engraved watch.

    The Epoch Times contacted the Los Angeles Police Department and a representative for Reeves for comment but did not receive a response by publication time.

    String of Break-Ins

    Chilean authorities believe the stolen watches were taken from Reeves’s Hollywood Hills residence in the fall of 2023.

    At the time, a spokesperson for the Los Angeles Police Department told the Los Angeles Times that “suspects entered the property through the backyard and broke a rear window to gain access” on the evening of Dec. 6, 2023.

    The suspects, who wore ski masks, reportedly made off with jewelry and a firearm.

    Tyler Durden
    Fri, 01/03/2025 – 20:30

  • "TIME TO WAKE UP!": 'Cybertruck Bomber' Had Several Manifestos, Warned Of Drones Using 'Gravatic Propulsion'
    “TIME TO WAKE UP!”: ‘Cybertruck Bomber’ Had Several Manifestos, Warned Of Drones Using ‘Gravatic Propulsion’

    Update (2006ET):

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    *    *    *

    Update (1801ET):

    The details surrounding Cybertruck bomber Matthew Livelsberger continue to drip – with two ‘manifesto’ letters found in the Cybertruck itself, and another ‘manifesto’ he allegedly emailed to retired intelligence officer Sam Shoemate.

    In the letters found in the Cybertruck, Livelsberger described the USA as “terminally ill,” and said his actions were meant as a “wake-up call,” and not a terrorist attack.

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

    The most intriguing, however, is an email allegedly sent to Shoemate – in warning that the “drones” seen around the United States over the last month are using “gravatic propulsion systems,” which only China and the United States possess.

    Shoemate shared the email on Shawn Ryan’s show, writing on X, “I knew taking this public would insert me into the “glowy boi” conspiracy cycle, especially since I’m an intelligence officer,” adding “I had no choice. Dude dumped it in my inbox. When I saw his name in the news, I had little choice but to hand it over to the feds. I knew the FBI wouldn’t release it, or at least without an agenda attached, so I took it to Shawn Ryan because he has the platform to handle the magnitude of this information and will do so as objectively as possible.”

    According to Livelsberger’s email:

    “China has been launching them from the Atlantic from submarines for years, but this activity recently has picked up. As of now, it is just a show of force and they are using it similar to how they used the blloon for a sigint and isr, which are also part of the integrated comms system,” he writes.

    “…they are the most dangerous threat to national security that has ever existed. They basically have an unlimited payload  capacity and can park over the WH if they wanted. It’s checkmate.”

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

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

    Meanwhile, Livelsberger was recorded at a Tesla charging station on the way to Las Vegas.

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

    You can read the entire email below:

    “In case I do not make it to my decision point or on to the Mexico border I am sending this now. Please do not release this until 1JAN and keep my identity private until then.

    First off I am not under duress or hostile influence or control. My first car was a 2006 Black Ford Mustang V6 for verification.

    What we have been seeing with “drones” is the operational use of gravitic propulsion systems powered aircraft by most recently China in the east coast, but throughout history, the US. Only we and China have this capability. Our OPEN location for this activity in the box is below.

    China has been launching them from the Atlantic from submarines for years, but this activity recently has picked up. As of now, it is just a show of force and they are using it similar to how they used the balloon for sigint and isr, which are also part of the integrated comms system. There are dozens of those balloons in the air at any given time.

    The so what is because of the speed and stealth of these unmanned AC, they are the most dangerous threat to national security that has ever existed. They basically have an unlimited payload capacity and can park it over the WH if they wanted. It’s checkmate.

    US needs to give the history of this, how we are employing it and weaponizing it, how China is employing them and what the way forward is. China is poised to attack anywhere in the east coast

    I’ve been followed for over a week now from likely homeland or FBI, and they are looking to move on me and are unlikely going to let me cross into Mexico, but won’t because they know i am armed and I have a massive VBIED.

    I’ve been trying to maintain a very visible profile and have kept my phone and they are definitely digitally tracking me. I have knowledge of this program and also war crimes that were covered up during airstrikes in Nimruz province Afghanistan in 2019 by the admin, DoD, DEA and CIA.

    I conducted targeting for these strikes of over 125 buildings (65 were struck because of CIVCAS) that killed hundreds of civilians in a single day. USFORA continued strikes after spotting civilians on initial ISR, it was supposed to take 6 minutes and scramble all aircraft in CENTCOM. The UN basically called these war crimes, but the administration made them disappear.

    I was part of that cover-up with USFORA and Agent [redacted] of the DEA. So I don’t know if my abduction attempt is related to either. I worked with GEN Millers 10 staff on this as well as the response to Bala Murghab. AOB-S Commander at the time [redacted] can validate this.

    You need to elevate this to the media so we avoid a world war because this is a mutually assured destruction situation. For vetting my Linkedin is Matt Berg or Matthew Livelsberger, an active duty 18Z out of 1-10 my profile is public. I have an active TSSCI with UAP USAP access.”

    How glowing is all of this on a scale of 1-Chernobyl?

    *    *    *

    Clark County Sheriff Kevin McMahill told reporters on Thursday that the Cybertruck bomber, Matthew Livelsberger, a 37-year-old Green Beret, died by a self-inflicted gunshot wound to the head just moments before the detonation outside Trump’s hotel in Las Vegas. This sequence of events is based on the official statements from law enforcement. However, speculation on X, particularly among internet sleuths, has brought up alternative theories regarding the timing of Livelsberger’s death. 

    Rogan O’Handley, aka “DC Draino” on X, floated two scenarios about Livelsberger’s final moments:

    Now that we know the Vegas suspect was found with a bullet in his head, I see 2 possible scenarios:

    1. He shot himself – he was planning to commit suicide & didn’t want to risk being burned alive

    2. He was shot by someone else & the Tesla was auto-pilot navigated to the Trump hotel

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    “A long fuse could’ve been lit, a timer could have been set, or the bomb could have been remotely detonated I wonder if anyone in the vicinity heard a gunshot That would help confirm where the car was when he was shot,” O’Handley wrote in another post. 

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    Tesla’s Elon Musk quickly dismissed the second scenario, stating, “Autopilot will not function unless it detects an attentive person in the driver’s seat.”

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

    Tesla vehicles have a cabin camera that monitors driver attentiveness and provides audible alerts when FSD is engaged. The camera is mounted above the rearview mirror. 

    “Like other Autopilot features, Full Self-Driving requires that the driver pay attention to the road, their surroundings, and other road users,” Tesla wrote on its website under the “Driver Attentiveness” section of FSD. 

    Tesla said, “The cabin camera does not require full visibility of the driver’s eyes in order to monitor attentiveness. The system is still active, for example, if the driver is wearing sunglasses.” 

    “If the cabin camera does not have clear visibility of the driver’s hand and arm locations, Full Self-Driving periodically displays a message reminding the driver to apply slight force to the steering wheel,” Tesla continued. 

    It noted, “If the driver repeatedly ignore prompts to apply slight force to the steering wheel or to pay attention, Full Self-Driving displays a series of escalating warnings and, if those warnings are ignored, disables for the rest of the drive and displays the following message.” 

    What’s apparent from Tesla’s description of how FSD works suggests any scenario with Livelsberger shot in the head well before the bombing would be extraordinarily hard to trick the camera. 

    X users should call on Musk to release the cockpit camera footage and any other recordings from the high-tech EV truck to disprove O’Handley’s second scenario. Additionally, footage from charging stations could provide valuable insights into what happened leading up to the bombing. We’re sure the FBI is already doing this… 

    Tyler Durden
    Fri, 01/03/2025 – 20:06

  • Homeland Security Agents Charged With Selling Illegal Drugs Seized As Evidence
    Homeland Security Agents Charged With Selling Illegal Drugs Seized As Evidence

    Authored by Aldgra Fredly via The Epoch Times,

    A second Homeland Security agent has been charged with selling illegal drugs, taken from seized evidence, for hundreds of thousands of dollars through a confidential informant.

    Nicholas Kindle, a special agent in Utah tasked with investigating illegal narcotics trafficking, was arrested three weeks after his alleged co-conspirator, special agent David Cole. Both men face felony drug distribution conspiracy charges. Kindle faces an additional charge of conspiracy to convert U.S. government property for profit.

    Kindle was formally charged in an information document filed by the U.S. Attorney’s Office, which does not require grand jury approval to initiate criminal proceedings. Court records indicate that he has not yet been assigned an attorney.

    A magistrate judge on Jan. 3 set Kindle’s initial court appearance for Jan. 21 in Salt Lake City. If convicted, he faces a maximum penalty of 25 years in prison.

    Cole was indicted by a grand jury on Dec. 18 and has pleaded not guilty to his drug distribution conspiracy charge. He is due to stand trial the week of Feb. 24 and faces a maximum of 20 years if convicted.

    His attorney, Alexander Ramos, previously said that he was still trying to gather information about the case.

    The pair’s Homeland Security credentials have been suspended following the indictments but they have not been terminated, according to court documents.

    Synthetic bath salts, also known as Alpha-PHP, are controlled substances with effects comparable to methamphetamine and cocaine. Abuse of the drug can result in adverse effects, including vomiting, paranoia, hypertension, seizures, or even death, according to U.S. authorities.

    Federal prosecutors stated that Cole and Kindle began acquiring the drugs from HSI evidence in 2021 and sold them to a confidential informant from 2022 to 2024.

    The defendants allegedly allowed the informant to resell the drugs and the buyers were never investigated or arrested, according to court documents.

    The transactions typically involved one ounce, or 28 grams, of bath salts for $5,000 that would then be sold by the informant at a higher cost, according to an FBI affidavit filed in December 2024.

    According to the FBI affidavit, investigators seized more than $67,000 in cash and bath salts during raids on the defendants’ residences, government vehicles, work cubicles, and a safety deposit box. The FBI did not disclose the amount of bath salts allegedly seized.

    The FBI said the scheme brought in between $195,000 and $300,000.

    The investigation began in October 2024 after the informant’s lawyer reported the illegal drug sales to the U.S. attorney in Utah. The informant was recruited by the agents while in prison to conduct controlled buys from drug dealers upon his release. However, the informant said he was compelled by the two agents to also engage in illegal sales, the affidavit said.

    “A drug dealer who carries a badge is still a drug dealer – and one who has violated an oath to uphold the law and protect the public,” Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the DOJ’s Criminal Division, said in a Dec. 18 statement.

    Tyler Durden
    Fri, 01/03/2025 – 20:05

  • What Americans Expect From The New Trump Era
    What Americans Expect From The New Trump Era

    Gallup conducted a survey on what Americans think the Trump administration will accomplish over the next four years.

    It found that nearly seven in ten respondents (68 percent) said that the incoming administration will control immigration. However, as Statista’s Anna Fleck reports, respondents were least likely to say that Trump would be able to heal political divisions in the country (33 percent said his administration would be able to).

    Around six in ten respondents thought that Trump will reduce unemployment, keep the country safe from terrorism and improve the economy.

    Just over half (54 percent) think he will cut U.S. taxes and (51 percent) reduce the crime rate. Meanwhile, only around a third (35 percent) of respondents said that the Trump administration will be able to improve the quality of the environment.

    A majority of respondents also said he will not be able to improve race relations, improve education, substantially reduce the federal budget deficit, improve conditions for minorities and the poor or reduce the prices of groceries and other items.

    As the chart below shows, a similar set of questions was asked to U.S. voters in 2016 about their expectations the first time Trump was in office.

    Infographic: What Americans Expect From the New Trump Era | Statista

    You will find more infographics at Statista

    Between the two survey waves, the biggest change was in response to the question of whether the government would keep the nation out of war (17 p.p. increase).

    While the population answered far more favorably this time round, only just over half of respondents (55 percent) consider this to be the case now.

    The biggest drop in optimism was over whether Trump would be able to improve the healthcare system. Where 52 percent of respondents had thought he could in 2016, only 40 percent thought the same in 2024 (-12 p.p.).

    Tyler Durden
    Fri, 01/03/2025 – 19:40

  • How Crypto Laws Are Changing Across The World In 2025
    How Crypto Laws Are Changing Across The World In 2025

    Authored by Yohan Yun via CoinTelegraph.com,

    Everything looks set to change for crypto regulation and legislation in the United States in 2025.

    Token Alliance co-chair Paul Atkins has been nominated to replace crypto antagonist Gary Gensler as chair of the Securities and Exchange Commission (SEC), signaling a major shift in how crypto is regulated in the United States. 

    Gensler’s tenure, though instrumental in laying regulatory groundwork and case laws, drew heavy criticism for its reliance on enforcement-driven regulation.

    Across the Atlantic, the European Union has implemented the first of its kind Markets in Crypto Assets (MiCA) regulation to oversee the crypto industry. While praised for its ambition, MiCA’s stringent rules are driving some businesses out of the region, adding to debates over the regulatory burden on digital markets. Meanwhile, Asia continues to integrate crypto into its legal systems, with significant cases setting local precedents.

    To unpack the most important legal developments of 2024 and forecast what’s next, Magazine spoke with legal experts Catherine Smirnova and Yuriy Brisov of Digital & Analogue Partners in Europe, Joshua Chu of the Hong Kong Web3 Association, and Charlyn Ho of Rikka Group in the US.

    The discussion has been edited for clarity and brevity.

    Magazine: How will crypto law in the US change under the new administration?

    Brisov: The Biden administration did a lot to prepare the legal frameworks for crypto assets. I’m sure that the proceeds of this preparation will help the next administration.

    Willingly or not, the SEC helped shape the surface of crypto regulation so far. Common law countries are usually based on case law. We usually regulate when we have a sufficient amount of case law, and now is the time. 

    A 1946 case stands as the basis for modern-day digital assets. (Alvaro Carriho)

    Today, both Republicans and Democrats agree that crypto legislative reform is needed in the US. We still base crypto decisions on the orange groves in California in 1946, or the Howey case. 

    Ho: The stepping down of Gensler and the nomination of Atkins to head the SEC is going to create a lot of change in the way that the crypto industry is regulated. When I say regulated, I don’t think that we will have an overarching regulatory regime in the next year. In fact, I would hazard a guess, Trump and Atkins are probably opposed to creating new regulations, but rather increasing the clarity as to where the crypto industry can operate. 

    Gensler was criticized for taking an overly aggressive approach where he was stepping outside of the SEC’s congressional mandate and essentially making up powers and exercising what it did not have constitutionally. The change we’ll see is hopefully a decrease in such regulation by enforcement and perhaps more of a proactive, business-friendly, crypto-friendly approach taken by the agency as opposed to more of an antagonistic one. 

     

    Magazine: What changes can we expect at the SEC with Atkins stepping in as chair, and how much influence will he have on ongoing legal matters?

    Ho: From all accounts, Atkins’s background is very pro-business. He was an SEC commissioner previously so there is some history in how he would approach this role. 

    Paul Atkins has been selected to lead the SEC after Gensler’s resignation. (SEC)

    That being said, there is a precedent set by Gensler for him to follow. Just because a new [chair] is named doesn’t mean that all the legal work product that has come out previously is just gone. Let’s hypothetically say there’s a lawsuit pending—and there are many. If Atkins wants to change the SEC’s position, he wouldn’t just be able to declare it. They would have to go through the legal process and have some justification in order to alter their claims. If they’re the plaintiff, they could just drop the lawsuit entirely. But the commissioner doesn’t have unfettered discretion to completely change everything that’s in process. 

    Magazine: How are businesses in the EU responding to the implementation of MiCA and other digital regulations?

    Smirnova: This year, what I call the Mario Draghi report said that our digital policy is not as good as we expected as a lot of potential unicorns are moving to the US. We believed that ex ante and clear regulation from early on will give transparency, but no—businesses treat it as a regulatory burden. 

    MiCA, of course, which is the first [crypto] regulation in the world covering all the fields, trying to make this market more transparent and clear to all participants. Now we have regulation which is more strict and doesn’t require any additional actions from national jurisdictions. 

    Next year, we’ll see if we still have a crypto market in the EU or if the regulatory burden will drive them out. We’re also expecting additional protection for digital consumers, through the Digital Fairness Act. What we’re witnessing now is that digital assets markets are regulated more by regulations that aren’t specially crafted for them. We have E-commerce Directive, DMA, DSA and GDPR. The proposal [for the Digital Fairness Act] was published already and released by the European Commission for comments, and we expect it will come into effect next year. It will be a high burden of pressure on digital business in the EU.

    Italy’s former prime minister’s 2024 report presents a reality check for the future of European competitiveness. (European Commission)

    Chu: You need three things: legislation, enforcement action, and ultimately those two to be tested before the court of law; before you can really say that the regulatory regime in any particular jurisdiction is maturing. 

    Using GDPR as context, when it came out, it rocked a lot of boats. The clarity on what to do only came about when the enforcement and fines started raining down.

    Magazine: And are there crypto cases that have been tested in Hong Kong’s court of law?

    Chu: In Hong Kong, we have seen this year legislative cases that are now being tested in court. So we have quite a few landmark decisions in Hong Kong, including the first case against JPEX. We will likely see more developments of that fraud case coming in the next year. 

    We have also seen cases against decentralized autonomous organizations (DAOs). So we’re seeing how private parties, as well as regulators are catching up in terms of tackling these new entities.

    Magazine: How can Hong Kong fulfill its crypto hub ambitions with only a few licensed exchanges?

    Chu: Do you really need that many exchanges floating around? If we look at it in the more traditional sense of a stock exchange, there’s one stock exchange. Why do we suddenly need three exchanges trading the same ten tokens aside from maybe arbitrage environments? 

    Being a hub is great and having choices is great. But similar to virtual banks, there will be batches being rolled out. The last thing you want to do is create way too many competing exchanges and then it gets nowhere. It also spreads regulatory oversight quite thin as a result. 

    Hong Kong has one of the more stringent regulatory regimes. You can’t even have options or derivatives. So people are wondering why are you buying it if it’s just on spot and you’re holding it. There are lots of issues that need to be ironed out.

    Magazine: What are some legal developments that are generally being overlooked by crypto industry participants?

    Smirnova: First, the Digital Markets Act and the Digital Services Act came into effect and a lot of tech companies just left the EU. 

    Number two, the EU AI Act was adopted in and it affects all jurisdictions. It’s expected to have the same effect as the GDPR. If you provide AI related services in the EU, this act is applicable to your business. It doesn’t matter where you are incorporated. 

    EU AI Act expected to have a GDPR-like effect on companies on all jurisdictions. (Sanket Mishra)

    Now, digital companies need to worry about competition, transparency, privacy, AI and about consumer welfare.

    Ho: I was keen on some of the AI agents and AI token developments. I think that is a huge development in 2024. We’re only going to see more of that in the future, especially with Coinbase’s AI agent transactions. To me, that’s just a little crazy. I find that pretty novel and legally very gray in terms of liability. 

    I would say we probably won’t see much legislation, but there may be court cases that shed light on liability allocation. The reason I say that I don’t foresee a lot of legislation is because for many years, the crypto industry has been without an overarching legislative regime in the US. We don’t have a MiCA equivalent here. That’s kind of why the current SEC has been enforcing the way it has. They are essentially operating and interpreting laws that are many years old and that were never kind of contemplating crypto in mind. So to think that we would have AI-crypto legislation, I think is kind of a tall order. 

    AI agents started to own their own crypto wallets in 2024. (Ethermage)

    One of the other big things that happen is the overturning of the Chevron deference doctrine. The Supreme Court basically overturned this doctrine that’s been in place for quite some time that essentially granted or required deference to an agency’s interpretation of a rule.

    That’s important because in this particular instance with crypto, that means that the courts don’t need to defer to the agency’s interpretation. Gensler’s interpretation or his commission’s interpretation was certainly very limited in crypto industries’ ability to operate. If the courts no longer have to defer to that interpretation, the logical thought would be that the crypto industry would have more freedom to operate.

    Brisov: A big development for next year I expect is the understanding of crypto assets. In common law, we have two types of assets. We call them chosen in possession and chosen in action, which are basically tangible and intangible things. Possession is your iPhone, your apartment, or your car. Things in action are like securities, dept, or intellectual property. 

    If we take NFTs, for instance, they used to be treated as just some form of tangible assets, though they are literally intangible. Therefore they couldn’t be security. But now, the SEC has started to investigate OpenSea. They claim that NFTs can also be securities. 

    Legal classification of digital assets advances. (Jonathan Borba)

    In the UK, there is a bill that offers the third dimension of assets which is not chosen possession, not chosen action, but a third category of assets: a digital thing, or digital asset. Through the case law in the US and in the UK, I think that legislation is also upcoming. This specific digital asset will form a new type of asset in the legal domain. That will be a huge trend that will be moving forward through upcoming years.

    Tyler Durden
    Fri, 01/03/2025 – 19:15

  • Bipartisan "Online Dating Safety Act" Seeks To Combat $1 Billion In Annual App Scams
    Bipartisan “Online Dating Safety Act” Seeks To Combat $1 Billion In Annual App Scams

    The government is considering putting a law into place that helps stop online dating scammers. 

    Sharing the story of a 66 year old woman who had “saved more than $2 million for her retirement and hoped to travel the world” and then lost all of it to someone she met on Match.com, CBS wrote this week that two lawmakers have introduced the Online Dating Safety Act.

    She met a man on Match.com claiming to be a UK private equity investor named Santos. After weeks of romance, he asked her for $40,000 to renew a professional license.

    “I was in a position, I could help a person. Why not? I never thought he was stealing or scamming. There was no reason,” the woman told CBS. From there, Sue faced relentless lies, deception, and emotional abuse that ultimately cost her $2 million in savings, according to CBS.

    She told her story to CBS: “Because I don’t want anyone to go through the hell that I’ve gone through. I don’t want anybody to be in the hell hole that I dug with the help of a criminal.”

    Romance scams cost over 64,000 Americans more than $1 billion last year, double the $500 million reported four years ago, per the FTC. Nearly half of dating site users report encountering scammers, prompting bipartisan concerns from lawmakers, the article says. 

    Reps. Brittany Pettersen (D-CO) and David Valadao (R-CA) introduced the Online Dating Safety Act, which would require apps like Match.com to alert users if they’ve interacted with a scam account.

    Valadao said: “No matter how advanced you think your ability to understand what’s out there, they’re gonna deceive so many people and we really have to get in front of this.”

    The bill passed the House but stalled in the Senate, with plans to reintroduce it next Congress. CBS writes that Match Group stated they’ve started implementing fraud notifications and will work with lawmakers to finalize the bill.

    Tyler Durden
    Fri, 01/03/2025 – 18:50

  • America Won't Fall For Multi-State 'Quad-demic' Mask-Mandates
    America Won’t Fall For Multi-State ‘Quad-demic’ Mask-Mandates

    Authored by Julianna Frieman via Headline USA,

    Some states reinstated mask mandates as so-called health “experts” claim holiday social gatherings have caused an increase in four different types of viral infections, the Daily Mail reported on Thursday.

    The “quad-demic” consists of a surge in infections caused by the flu, COVID-19, the respiratory illness RSV and norovirus, commonly called the stomach flu, according to the outlet.

    Headlines about the quadruple threat emerged just weeks before President-elect Donald Trump takes office, fresh after talk about the risk of bird flu fell flat.

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

    Aurora Health Care, a hospital in Wisconsin, announced that starting on Jan. 6, visitors will be required to mask up “when in contact with patients or in congregate areas, including patient rooms and others areas designated by signage,” WLUK reported.

    Several counties in California, including Alameda, Contra Costa, Napa, San Francisco, San Mateo and Santa Clara counties, along with the City of Berkeley, enacted mask mandates first effective in November until March 31, 2025.

    In some counties, the order only applies to medical workers—but stricter counties extent their mandate to visitors or residents, CBS News reported.

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

    Multiple hospitals in Illinois, Indiana and New Jersey have also implemented mask mandates, which were proven not to stop infection during the COVID-19 pandemic, under the guise of protecting people against the reported winter surge of diseases, various reports said.

    In New York, government officials including Gov. Kathy Hochul and New York City Mayor Eric Adams also reportedly called for people to wear face masks on public transportation, NBC 4 New York reported in June.

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

    Dr. Joe Bresee, an infectious disease “expert” with two decades of Centers for Disease Control and Prevention experience, told the Daily Mail, “What we are seeing now is an increasing amount of respiratory disease and norovirus that is really all over the U.S.”

    Social media users were skeptical of mask mandates resulting from what some called the “quad-demic.” One X user questioned if reports were “more fear-mongering,” while others warned as early as Dec. 2024 that the apparent attempt to return to COVID-19 “utter deception and evil” would not be welcomed.

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

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

    X user @NoNonsense2 pointed out that the rise of the “quad-demic” began just weeks before Trump’s second term.

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

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

    Popular podcaster Dan Bongino slammed the Daily Mail’s report by saying, “Absolutely incredible how little public health officials have learned from betraying us during COVID. Mask stupidity is peak human ignorance.”

    Tyler Durden
    Fri, 01/03/2025 – 18:25

  • 16 Years After Bitcoin's 'Birth', Mining Difficulty Hits A New Record High
    16 Years After Bitcoin’s ‘Birth’, Mining Difficulty Hits A New Record High

    It’s Bitcoin’s birthday: The very first Bitcoin block was mined 16 years ago today.

    Bitcoin’s first block was mined on January 3, 2009.

    Known as the “Genesis Block,” Decrypt reports that Bitcoin’s pseudonymous creator Satoshi Nakamoto minted 50 BTC into existence with the move. 

    Since then, 877,665 blocks have been mined and added to the network’s long ledger. On a blockchain, blocks contain data on transactions.

    Only miners can add data to the network, and the difficulty level helps prevent unauthorized additions or edits to the chain, as it would take an incredible amount of computational power to take over the network.

    And the network is stronger than ever, with mining difficulty reaching a new all-time high mark as the biggest cryptocurrency rides into the new year.

    As CoinTelegraph’s Alex O’Donnell reports, Bitcoin’s hashrate – the total computing power securing the Bitcoin network – reached a new all-time high on Jan. 3 of over 1,000 exahashes per second (EH/s), according to data from CoinWarz. 

    Source: CoinWarz

    That is nearly double the network’s hashrate 12 months ago. According to CoinWarz, Bitcoin’s hashrate hovered around 510 EH/s in January 2024. At the time of this article’s publication, Bitcoin’s hashrate had retraced to approximately 780 EH/s. 

    The network’s rising hashrate indicates Bitcoin miners are devoting more computational resources to the blockchain, thus improving the network’s security. 

    Miners are continuing to expand production even after Bitcoin’s April halving reduced mining rewards from 6.25 BTC to 3.125 BTC per block.

    Source: CoinWarz

    Overcoming headwinds

    In 2024, Bitcoin’s strong performance partially offset headwinds from the halving, especially for cash-heavy mining companies like Riot Platforms and CleanSpark.

    Mining firms “acquired other miners with turn-key facilities to increase near-term hashrate and increase their power pipeline,” JPMorgan said in a Dec. 10 research note shared with Cointelegraph. 

    Miners have also prioritized accumulating BTC on balance sheets. In December, JPMorgan raised price targets for four Bitcoin mining stocks to reflect value from the miners’ electrical power assets and BTC holdings, JPMorgan said.

    JPMorgan cited the stock performance of MicroStrategy, a software company turned de facto Bitcoin fund, which traded at a roughly 2.4x multiple to the value of its BTC treasury as of Dec. 10.

    Bitcoin miners, including Marathon, Riot and CleanSpark, hold BTC treasuries worth approximately $4.4 billion, $1.7 billion and $910 million, respectively, according to the BitcoinTreasuries.net data service.

    Source: Bitcointreasuries.net

    Institutional inflows

    Bitcoin’s rising hashrate — and the resultant improvement in network security — is especially important as institutional investors pour capital into BTC exchange-traded funds and other regulated cryptocurrency investment vehicles.

    In November, Bitcoin ETFs broke $100 billion in net assets for the first time, according to data from Bloomberg Intelligence.

    Asset manager Sygnum expects this dynamic to accelerate in 2025 as large institutional investors, including sovereign wealth funds, endowments, and pension funds, add Bitcoin allocations.

    “With improving US regulatory clarity and the potential for Bitcoin to be recognized as a central bank reserve asset, 2025 could mark steep acceleration for institutional participation in crypto assets,” Martin Burgherr, Sygnum’s chief clients officer, said in a statement.

    However, BlackRock’s iShares Bitcoin Trust (IBIT) spot Bitcoin exchange-traded fund (ETF) just saw record-high outflows on Jan. 2.

    Isaac Joshua – the CEO of token launch platform Gems – also told Decrypt yesterday that the recent downturn “can largely be attributed to end-of-year tax-loss harvesting by investors,” he explained.

    Founder of Obchakevich Research Alex Obchakevich told Decrypt that “the main reason for the outflow is profit-taking by investors in early 2025.”

    “At the end of the year, investors and funds often review their investment portfolios, which can lead to the sale of some shares,” he explained.

    Though, bear in mind, IBIT surpassed $50 billion in assets under management just 228 days after its launch – more than five times faster than any other ETF in history.

    Tyler Durden
    Fri, 01/03/2025 – 18:00

  • Doug Casey's Top Prediction For 2025
    Doug Casey’s Top Prediction For 2025

    Via InternationalMan.com,

    International Man: Looking at the intersection of finance, economics, politics, and culture, what is your most significant prediction for 2025?

    What major event or trend should people prepare for that most are currently overlooking?

    Doug Casey: The trends that appeared, seemingly against all odds, in 2024 are going to accelerate.

    The climate changed with the election of Trump. That was emblematic, but similar things are happening in other countries. The conservative/libertarian AfD will likely oust the current German government, which resembles that of the old East Germany. Castro’s son will be dethroned in Canada. And almost everywhere, even the media, has come to recognize that the Milei revolution in Argentina is succeeding.

    It’s becoming apparent that progressivism and wokeism are morbid. White males are less afraid of committing thought crimes, being canceled, or being labeled racist or sexist. DEI, ESG, and Woke values are retreating. These trends will grow, even while leftists, statists, and socialists pull out all the stops to resist them.

    It’s funny that the WEF and their ilk still talk about 2030 as being a magic year because the change in the trend that started in 2024 runs counter to everything that the WEF and the progressives were aiming for in 2030.

    I’m surprised—and very pleased—to see what looks like a cultural sea change. But we’re still on the cusp of a giant financial crisis. If the markets melt down, the kaleidoscope could reset mass psychology radically. The fundamentals remain very shaky. The climate and CO2 hysterias are ingrained in the public psyche. And there’s an excellent chance the usual suspects will try to ramp up another vaccine hysteria. A bird flu seems to be on the dance card for 2025.

    International Man: You’ve spoken about societal decline in the past. Do you see any path toward reversing this trend in 2025, or is societal breakdown inevitable?

    What do you think happens next?

    Doug Casey: Trends in motion tend to stay in motion until they reach a crisis and a new trend emerges.

    Fortunately, technology continues to advance at an accelerating rate, and that’s crucial. Throughout history, innovation has changed the nature of life much more than politics, personalities, or even war.

    Roughly five thousand years of recorded history show the trend is up, exponentially. That’s why I’m essentially an optimist. But one who recognizes that humanity suffers from occasional bouts of evil and stupidity. Time is on humanity’s side, although that can be an academic observation from the point of view of your own short lifetime.

    On the pessimistic side, about 50% of the population in Western societies have been transformed into parasites, collecting much more from the government than they contribute to society. That’s a big deal because almost all progress has come from the West.

    Europeans, especially, have become ingrained with bad habits and values. We’re undergoing another stage of the Industrial Revolution that started about the year 1800. It’s destroying lots of old jobs—mostly a good riddance—which will upset the people whose rice bowls are broken. But things will be fine, as long as enough of the middle class survives. The plebs and the “elite” will survive (because they’re basically parasites), but the middle class is the source of production and vitality in any modern society.

    Unfortunately, society has retrogressed over the last few generations. But perhaps a counterrevolution has started. The remaining middle class wants to eliminate the parasites. I’d like to believe that the current technological expansion will aid in that and lead to another boom—not just a financial boom, but an economic boom featuring vastly more production at vastly lower costs.

    In the short term, however, the Greater Depression will cause the average guy’s standard of living to drop. That’s the best case, even if society stops supporting parasites. Why? Because capital will be reallocated away from consumption and back to rebuilding wealth.

    The worst case is that the world continues to party on, with borrowed money. Then, we could have a hyperinflationary depression.

    Even though I think the Greater Depression will persist at least over the next decade, the long-term uptrend—which has been going on since the end of the last Ice Age—will continue and hopefully accelerate radically.

    So what happens next?

    The elite and the parasites still control the State, and that’s critical. The State still has legitimacy, but it’s not part of the cosmic firmament. Though it’s losing its legitimacy, people still view the institution the way children view their parents. Even though those who control the apparatus of the State act more like predators than parents. They will use it to their personal advantage.

    I expect promiscuous spending will continue under Trump, notwithstanding the best efforts of Elon, Vivek, and DOGE. That’s because if they don’t keep spending and creating money, the whole pyramid of debt that’s been built up over many decades will come crashing down.

    The US dollar, therefore, will continue being inflated. But at the same time, if the Trump administration deregulates radically, efficiency in manufacturing and production will improve radically. Despite lots more money being created, costs and retail prices could drop enough to disguise the effects of inflation.

    Despite the positive effects of deregulation, there will be lots of unemployed people as distortions in the economy are liquidated. The good news is that the economy, which is to say the amount of real wealth being created, will start improving, even while the financial situation—stock and bond prices—gets ugly. Rapid change presents lots of paradox.

    International Man: What does Trump’s return to the White House mean for the geopolitical situation?

    How will the US’s role in the world evolve in 2025?

    Doug Casey: There are two contradictory trends at play. Look at the following chart, courtesy of my friend Alex Krainer. It’s quite shocking.

    It shows the size of companies born in the last 50 years in America and Europe. America, as heavily regulated and taxed as it is, is vastly more conducive to business than Europe. That trend will widen over the next few years.

    It’s important to recognize that the US government is bankrupt, living on borrowed money, and that trend has gone exponential. I know it looks like Morning in America with the defeat of “Kamala and the Jacobins”… that’s a good name for a rock band. But, seriously, the US has become an overextended and corrupt multicultural domestic empire. It’s unsustainable in its present form. Anyway, morning only lasts for six hours.

    The US is more militarily aggressive than ever. It’s said—I don’t think anybody knows exactly—that there are over 800 bases abroad in 80 or 100 countries. This is, to use a currently fashionable word, completely “unsustainable”. Trump says that he doesn’t want war, and that makes sense. But he’s all for more military spending. He apparently doesn’t understand that more spending is a provocation to the Chinese, and just a grift for weapons manufacturers, so-called defense companies.

    Trump seems committed to using the US dollar as a weapon, by trying to force other countries to use our fiat currency. He sees that exporting paper money in exchange for real goods yields a higher standard of living, and wants to keep that Ponzi scheme going. But he doesn’t seem to understand the huge reaction it’s causing.

    The thought of using tariffs to punish foreigners who are shipping goods to the US in exchange for depreciating fiat dollars is quite idiotic.

    International Man: Following Trump’s victory, many Americans feel more optimistic about their portfolios and the nation’s economic prospects for 2025.

    Is this optimism warranted? What’s your perspective on potential economic developments this year?

    Doug Casey: No doubt that the Trumpers will try their best to get rid of egregious stupidities, as did the Reaganites when they took over in 1980. But the stupidities are much more ingrained and embedded than they were in Reagan’s day. It’s going to be tough.

    Abolishing regulations is fantastic and will liberate the economy. Moore’s law, which is about computers becoming roughly 50% more powerful and 50% cheaper every year, now seems to apply to many areas of high tech—AI, space exploration, and biotech among them. It will accelerate until we reach Ray Kurzweil’s Singularity.

    In the next five years, we’ll see humanoid robots become common, cheap, and extremely powerful, moving in the direction of those in the movie Terminator. Hopefully, they’ll be programmed to make love, not war.

    The Singularity is almost guaranteed by exponential advances in artificial intelligence, quantum computing, and nanotechnology. As we advance toward the Singularity over the next decade, the whole nature of life will change. For the better—barring WW3.

    International Man: Given your outlook for 2025, how are you preparing your portfolio?

    What asset classes do you believe will perform best in the year ahead?

    Doug Casey: No changes here. As regulations are rolled back, companies that own mineral deposits should boom. There will be lots of 10-1 shots over just a few years; it’s a sector everyone hates, assuming they even know it exists—which they don’t.

    The general stock market is in a historic bubble, and the public loves it. I think the party is over. The bond market remains a triple threat to your capital—interest rate risk, default risk, and currency depreciation.

    But let’s put money aside. Your main asset isn’t things. It’s your knowledge, your skills, and your character.

    In an era of extremely rapid change, if you don’t constantly improve, you may inadvertently become a useless mouth. It’s more critical than ever that you build both physical and intellectual capital. And, most importantly, moral capital. Weakness and poverty are forgivable; there’s no excuse for villainy. Do the right thing. Many people will forget that as times get tough.

    *  *  *

    Doug Casey’s forecasts helped investors prepare and profit from: 1) the S&L blowup in the ’80s and ’90s, 2) the 2001 tech stock collapse, 3) the 2008 financial crisis, 4) and now… Doug’s sounding the alarms about a catastrophic event. One he believes could soon strike. To help you prepare and profit, Doug and his team have prepared a special video. Click here to watch now.

    Tyler Durden
    Fri, 01/03/2025 – 17:40

  • Small Banks Suffer Big Deposit Outflows As Money-Market Funds Hit Record Highs Into Year-End
    Small Banks Suffer Big Deposit Outflows As Money-Market Funds Hit Record Highs Into Year-End

    Money market assets surged again in the last week of 2024 to a new record high of $6.848 trillion and at the same time money flowed into bank deposits for the fifth straight week, recovering all the outflows from the SVB crisis…

    Source: Bloomberg

    On a seasonally-adjusted basis, banks saw $58.5BN of deposit inflows (after 3 weeks of outflows)…

    Source: Bloomberg

    On a non-seasonally-adjusted basis, banks benefited from a 5th straight week of deposit inflows (+$31.5BN in the last week of 2024), heading back up near record highs…

    Source: Bloomberg

    However, under the hood, excluding foreign deposits, Small Domestic Banks saw sizable outflows into Christmas (as Large Domestic Banks saw inflows)…

    Source: Bloomberg

    On the other side of the ledger, both small and large bank loan volumes shrank in the last week of the year…

    Source: Bloomberg

    Additionally, The Fed’s bank bailout facility is almost (for all intent and purpose) fully reversed after this week’s decline with only $4.4BN outstanding (down from the peak $168BN)…

    Source: Bloomberg

    Perfect timing for another banking crisis bailout right as Trump takes office.

    Tyler Durden
    Fri, 01/03/2025 – 17:20

  • Devin Nunes Reemerges
    Devin Nunes Reemerges

    Authored by Victor Davis Hanson via American Greatness,

    2024 proved to be the year of the reemergence of many once and unfairly pilloried public figures.

    Elon Musk weathered nonstop attacks on his X social media platform. Furor escalated over his newfound 2024 Trump advocacy—even as he ended 2024 with his iconic Tesla brand still the best-selling car in six states and the most popular electric vehicle in the entire nation.

    Tesla’s rising stock prices ensured by year’s end that Musk was by far the richest man in the world with a net worth of well over $400 billion. His recyclable SpaceX Super Heavy starship rocket booster mesmerized the nation as it returned to the launch pad to be caught by a huge mechanical arm.

    After January 6, 2021, the media swore that Donald Trump was supposedly washed up. He left office with a 34 percent approval rating. Over nearly the next four years, Trump would face 91 felony indictments and be liable for over $400 million in assorted fines.

    Now he is a reelected president. Former oppositional world leaders traipse to Mar-a-Lago to seek his approval even before his tenure begins. His erstwhile critics at home are scurrying about in disarray.

    The Trump-hating media who swore Joe Biden was “sharp as a tack” and “fit as a fiddle” are mostly discredited and are, for now, still bleeding audiences. And Trump’s chief political adversaries, Nancy Pelosi, Liz Cheney, Joe Biden, Kamala Harris, and the Obamas are increasingly either unpopular or irrelevant—or both.

    Yet one unremarked-upon return is that of former Rep. Devin Nunes (R-CA), who, after 20 years of representing Central California in Congress, retired on January 1, 2022, from the House to become CEO of the newly formed Trump Media & Technology Group, tasked to oversee its social media platform, TruthSocial.

    Nunes has regained public attention over the last two weeks after Trump appointed him to become chairman of the President’s Intelligence Advisory Board, which oversees the conduct and performance of America’s intelligence agencies.

    And once more he too is the target of tired residual left-wing venom, as a “pugnacious Trump loyalist” in the words of the New York Times.

    Like almost all former chairs of this nonpaying advisory board, Nunes keeps his full-time job. His old critics claim he has conflicts of interest, given he serves Trump in both a private and public capacity.

    Of course, these complaints come from those who saw no conflict of interest when Vice President Joe Biden flew to China with his son on Air Force Two to shake down foreign communist oligarchs and apparatchiks by using his office to enrich, tax-free, the Biden family syndicate. And no one alleges that Nunes ever became rich, in the fashion of the two Pelosis, who leveraged privileged congressional insider knowledge to make “wise” investments.

    But more importantly, why would Trump not pick Nunes to enact the board’s mission statement to oversee “the Intelligence Community’s compliance with the Constitution and all applicable laws, executive orders, and presidential directives?”

    After all, he shattered the Democratic hoax of Russian-Trump collusion between 2015 and 2018, even as his lead investigator, Kash Patel, the next FBI Director, was himself an object of FBI surveillance.

    As Nunes once pointed out, why did Obama’s non-intelligence officials, like UN Ambassador Samantha Power, seek to unmask dozens of names of U.S. officials, most of whom were political opponents?

    So, who could Trump better trust to oversee the intelligence and investigatory bureaus than someone who knows all too well the descent of these agencies into Trump-Derangement-Syndrome-inspired chronic dissimulation and illegal surveillance?

    After all, the former CIA Director John Brennan, the former Director of National Intelligence James Clapper, and the former interim FBI Director Andrew McCabe all, by their own admissions, lied under oath either to Congress or federal investigators. Former FBI director James Comey pled amnesia or ignorance 245 times before the House Judiciary and Oversight Committee.

    Trump himself, remember, was the object of a vile and fabricated hit “dossier” of Christopher Steele. Nunes proved Steele was a Democratic Party-paid opposition research functionary and an erstwhile FBI informant. Should not Trump have good grounds to want a known bulldog as an overseer of the suspect intelligence agencies?

    Do we remember the “51 former intelligence officials?”

    Some were hardly “former” at all, given they still had enjoyed contracts with government intelligence agencies. On the eve of 2020, they blatantly “misled” the nation that Hunter Biden’s laptop, authenticated at the time by the FBI, had all the “hallmarks” of a Russian disinformation operation.

    Such unapologetic election interference by our best and brightest—including former CIA Directors Leon Panetta and John Brennan—may well have played a role in the outcome of the 2020 election.

    But what perhaps infuriates the left most is Nunes’ resiliency and ability to sluff off its chronic hysterias. Again, as chairman of the House Intelligence Committee, he revealed to the nation that Christopher Steele’s accusations were little more than gossipy fabrications from a discredited ex-British spy—at a time when the media and the Democrats in Congress had cited his “research” chapter and verse in near-biblical fashion.

    Moreover, Nunes showed that Steele himself was hired by Democratic interests through the use of various paywalls—the DNC, the Perkins Coie law firm, and Fusion GPS—to help ruin the 2016 Trump campaign, on the false and ridiculous charge of colluding with the Russians to throw the election. His team further found that the dossier of Steele, again a one-time paid informant of the FBI, was used in part to obtain an FBI lawyer-forged FISA warrant to spy on American citizen Carter Page.

    At the time, candidate and then President Trump was under unprecedented attack. At his inauguration, riots broke out. Madonna publicly declared to a crowd that she thought about blowing up the Trump White House.

    Trump was branded a Russian “puppet” who should be removed just days after his swearing-in. Indeed, according to a Foreign Policy article by one Obama administration leftover official, the left was supposed to depose him quickly, either by impeachment, the 25th Amendment, or a military coup.

    So those were certainly surreal times, at least until Nunes’s committee issued a controversial memo that laid out most of the skullduggery but only earned him unprecedented media venom.

    Only years later, with the issuance of Inspector General Michael Horowitz’s investigative report, the conclusions of the House oversight committee investigations, and the reportage of a few bold journalists, did the public fully confirm there was never anything to the “Russian collusion” charge, other than a Clinton, and then administrative state, effort to destroy Trump by any means other than an election.

    In those crazy times of 2017-2020, the media buzzed with predictions that special counsel Robert Mueller’s “dream team” and “all-star” lawyers would consume Trump and his supporters.

    Nunes himself was written off as a California dairy farmer way over his head, with legacy media headlines blaring, “Trump-Russia Investigation: A Former Dairy Farmer, Rep. Devin Nunes Leads Historic Probe!”

    The media sought to contrast Nunes with supposedly brilliant, Harvard-law-trained Adam Schiff, the then-minority party’s highest-ranking member on the Nunes committee. Schiff would supposedly devour the chairman—in what the media would boast would become a war between a supposed yokel from the Central Valley pitted against an Ivy League pro. Years later today, Schiff’s prior insistence on a real Trump-Russian collusion effort in 2016 and his persistence that the Steele dossier was factual remain even more laughable. A farmer might editorialize that its takes far more savvy and resilience to run a dairy farm than it does to graduate from Harvard.

    When Trump appointed Nunes the head of TruthSocial, the same sort of hick/rustic stories reemerged about Nunes. He was now again supposedly “over his head,” as the blinkered rustic trying to make it in the cutthroat world of sophisticated social media.

    We were told TruthSocial would meet the same fate as Parler. That ascendant 2020 start-up conservative alternative was sabotaged by the left-wing Twitter monopoly that had conspired to ban Trump and partner with the FBI to suppress news unfavorable to Biden’s 2020 campaign.

    It was left to the trifecta of Apple, Google, and Amazon to destroy Parler by denying its critical application platforms to the general public.

    Over the last three years, the media gleefully reported, erroneously, that TruthSocial was nearly bankrupt, hemorrhaging users, piling up operating debt, without operating capital, and losing a critical merger bid. They high-fived the TruthSocial 30-month war with the SEC—one of the most drawn out and politicized in its history—which, in likely partisan fashion, had sought to delay or block TruthSocial’s partnership with Digital World Acquisition Corporation (DWAC).

    As in the case of the Russian collusion hoax, the media was both predictably hostile and wrong, as it serially predicted that Nunes and Truth Social would fail from its very beginning. For nearly three years, it sounded the same “walls are closing” doom and gloom hysterics where it had left off with ‘Russian collusion.”

    We were assured that Elon Musk’s purchase of Twitter meant that the huge social media platform would veer right and preclude any need for TruthSocial. For over three years, headlines in scare caps assured, as did a Bloomberg autumn 2022 screed, that “The Walls Are Closing in on Trump’s TRUTH Social.”

    At about the same time, a giddy Washington Post boasted that “Trump once reconsidered sticking with Truth Social. Now he’s stuck.” And still, the chorus continued a year later with New York Magazine blaring the same narrative, “Trump’s Truth Social Is an Unmitigated Failure.” And on and on.

    Certainly, when Musk purchased Twitter, renamed it the free-speech platform X, endorsed Donald Trump, and welcomed banned conservatives back to the now-reinvented old Twitter, it questioned the original reason-to-be of TruthSocial.

    Yet despite media obituaries, 2024 ends with the Trump Media & Technology Group’s stock price at some $35-37. In October, the company’s worth soared to an incredible $10 billion in market capitalization—albeit a figure representative of speculative interest rather than the size of its profits or market share.

    Still, unlike the old Twitter, TruthSocial had little overhead and ran a tight ship. It reportedly has some $700 million in cash on hand. And it enjoys something no other platform can quite rival—the near-exclusive domain of the President of the United States, 8.4 million of his followers, and over 600,000 investors. Most of the media’s sensational stories about its massive operating losses were never borne out by its officially released filings.

    Tens of thousands of Americans have invested in TruthSocial because of what it stands for and their faith in Donald Trump. In that sense, they confound Wall Street orthodoxies about the magnitude of company size and profitably in gauging stock prices.

    There is a sort of nemesis theme to all these hubristic Nunes hit stories: the clueless bumpkin from a California dairy who turns out to have exposed one of the great scandals of political malfeasance in modern history, or the fumbling ex-farmer driving the ridiculous Trump media platform into, at one recent point, a $10 billion net worth—and multibillion-dollar profit for Donald Trump.

    Critics are right that the TruthSocial stock is astronomically “overvalued”, but seem clueless as to why that is and why it may remain more or less so.

    It is a well-run company, and its inseparable brand, Donald Trump, is no longer the media’s Satan but increasingly a widely admired, resilient, and indomitable figure, traits that even his exhausted enemies grudgingly concede.

    So, looking back at the years of insanity, where now are all the officials and pundits who swore that Nunes was either incompetent or sinister?

    Ryan Lizza, who in 2018 published a bizarre hit piece for Esquire by bird-dogging Nunes’s parents on their dairy in Iowa, was fired for sexual misconduct from The New Yorker. He was recently embroiled in a messy, he-said/she-said courtroom psychodrama—replete with charges and countercharges of blackmail, theft, and physical intimidation—with his erstwhile fiancé, the peripatetic Olivia Nuzzi.

    The dissimulator quad of Brennan, Clapper, Comey, and McCabe has receded into irrelevancy, only occasionally reemerging in half-hearted fashion to reassert their stale first-term Trump accusations.

    No one believes the pompous Schiff memo was more accurate than the Nunes brief it attacked.

    No one vouches for the bogus Steele dossier, or that Steele himself was a skilled and professional ex-intelligence agent, or that Hunter’s laptop was cooked up in Moscow, or that Carter Page was a Russian spy working to subvert the 2016 election.

    No one trusts that Samantha Power had legitimate reasons to request the unmasking of nearly 300 Trump officials, many of them her political enemies, or that the FBI did not collude with social media to suppress news unfavorable to Joe Biden in 2020, or that the intelligence agencies initially were accurate in parroting the official line that the COVID virus was birthed by a bat or pangolin.

    Yet the disillusioned public also wants to know what these intelligence agencies did not do when they were otherwise so busy hunting down fantasy conspiracy theories and knee-deep in domestic partisan politics.

    Did they warn us that the entire U.S. effort in Afghanistan was about to collapse, in the greatest humiliation of the U.S. military in a half-century, as it abandoned over $50 billion in weapons to terrorists?

    Did they have a clue about what Hamas, Iran, and Hezbollah were up to before October 7?

    Did they ever sense that Vladimir Putin was about to stage a massive attack on Kyiv on February 24, 2022?

    Did they ever have any hint about what two near-successful Trump assassins were up to?

    Did they ever honestly report what exactly was going on at the Wuhan virology lab and to what degree our own health officials were complicit in it?

    And how does China keep producing state-of-the-art ships, warplanes, drones, and weaponry that seem eerily to resemble or replicate original American designs?

    As in the case of the newly appointed reformist directors of the wayward FBI, Pentagon, or National Institute of Health, so likewise the intelligence agencies need and should welcome the civilian oversight of Devin Nunes and his new board – to ensure they start doing what they were tasked to do and not continue to do what they were not.

    Tyler Durden
    Fri, 01/03/2025 – 17:00

  • 'Hush Money' Case Judge Orders Trump Sentenced Ahead Of Inauguration, Signals No Punishment
    ‘Hush Money’ Case Judge Orders Trump Sentenced Ahead Of Inauguration, Signals No Punishment

    New York Supreme Court Justice Juan Merchan has rejected an attempt by President-Elect Donald Trump to dismiss his business records case and ordered sentencing for Jan. 10.

    “This Court finds that neither the vacatur of the jury’s verdicts nor dismissal of the indictment are required by the Presidential immunity doctrine, the Presidential Transition Act or the Supremacy Clause,” Merchan said on Jan. 3.

    “Finding no legal impediment to sentencing and recognizing that Presidential immunity will likely attach once Defendant takes his Oath of Office, it is incumbent upon this Court to set this matter down for the imposition of sentence prior to January 20, 2025,” Merchan wrote.

    However, while some on the left may be hoping this is the last gambit to avoid four years of ‘Hitler’ reigning over them with the chance of the judge to #LockHimUp, Merchan said an unconditional discharge “appears to be the most viable solution” and he would allow Trump to appear virtually.

    “While this Court as a matter of law must not make any determination on sentencing prior to giving the parties and Defendant an opportunity to be heard, it seems proper at this juncture to make known the Court’s inclination to not impose any sentence of incarceration, a sentence authorized by the conviction but one the People concede they no longer view as a practicable recommendation,” Merchan wrote. 

    Trump, 78, had faced as many as four years in prison in the hush money case after a jury in May found him guilty on 34 felony counts of falsifying business records for payments to an adult film star before the 2016 election.

    Merchan rejected each of Trump’s arguments for dismissal, including that allowing a criminal conviction to hang over a sitting president would undermine his authority. The judge noted that Trump won the election even after he was convicted in the case.

    “Whatever stigma that might have existed, will most certainly not interfere with defendant’s ability to carry out his duties — both as president-elect and as the sitting president,” Merchan said.

    However, as The Hill points out, Merchan’s decision keeps Trump’s criminal conviction on the books.

    “This court has painstakingly considered the respective arguments of the parties and finds that setting aside the jury verdict is not the best or only way to reconcile the competing interests,” Merchan said.

    The judge state that the importance of keeping the New York jury’s guilty verdict against Trump intact could not “possibly be overstated.”

    “Indeed, the sanctity of a jury verdict and the deference that must be accorded to it, is a bedrock principle in our Nation’s jurisprudence,” he said.  

    This would mean he would be the first felon to assume the presidency, though Trump can still appeal the jury’s verdict.  

    Tyler Durden
    Fri, 01/03/2025 – 16:40

Digest powered by RSS Digest

Jan 03

Today’s News 3rd January 2025

  • 2024: Year Of The Drone
    2024: Year Of The Drone

    Authored by Patrick Drennan via RealClearDefense,

    Drone boats, drone planes, trolly drones, drone traffic lights and more…

    The 2024 word of the year was controversially proposed as either Brat (Collins dictionary), Polarization (Miriam Webster dictionary), or Brain-Rot (Oxford University Press) – however no word has more impact on the modern psych than the word Drone.

    The weird and extravagant reactions to drones spotted in the night sky of New Jersey recently reflects that fascination. One member of Congress speculated that they came from outer space.

    From drones that can soar through the stratosphere, to rotor drones that hover a few feet above the ground, and submersible drones that glide 50 feet underwater, drones have transformed our lives and modern warfare.

    Their impact mainly comes from daily news and internet video images of war footage – particularly the fiery, innovative, and futuristic use of drones in Ukraine.

    Cost effective FPV (First Person View), and kamikaze drones excel in reconnaissance, artillery spotting, and direct strikes, proving highly effective at targeting enemy positions…but they have been upgraded for much more than that –

    Sea Drones

    Ukraine use their Magura V5 and Sea Baby drones to sink Russian barges, attack oil rigs and devastatingly, sink billion-dollar Russian warships.  In February 2024, a video depicted a Ukraine sea drone sinking a Russian battleship. Later, Ukraine used a sea drone with a mounted remote-controlled machine gun to shoot at Russia helicopters. The Russians called in jet fighters to sink these drones, but it is only a matter of time when the sea drones will be mounted with MANPAD ground-to-air missiles.

    Trolly Drones

    The Palianytsia drone is actually a converted heavy missile powered by a turbojet engine and guided by GPS. It motors down a runway on a wheeled trolley, abandoning the trolley as it gains lift. 

    Plane Drones

    The Ukrainians have adapted small kitset sports planes into combat drones – flying them by remote control, loaded with explosives. They extend the range of normal drones and increase the payload. On December 15, a video was released showing a Aeroprakt A-22 Foxbat drone aircraft damaging a Chechen/Russian military facility 500 miles from the Ukrainian border.

    Drone Swarms

    Both sides in the Russian/Ukraine conflict use cheap plastic, polystyrene and wooden drone swarms to confuse and confound sophisticated radar systems, like the Russian TombStone system. The drones are often used in conjunction with more sophisticated drones and ballistic missiles. The Russians combine swarms of Iranian HESA Shahed 136 drones with Kalibr cruise missiles, and 9K720 Iskander ballistic missiles to attack Ukrainian infrastructure and civilians.

    Both sides effectively use electronic jamming equipment to counter drones. In response both sides are increasingly reverting to algorithm trained drones that fly by visual navigation without ground signals. Ukraine also cheekily diverted some attacking drones into the territory of Russian ally Belarus.

    Drones Operated by Long Fiber Cables

    In response Russia developed drones that were operated by attached thin fiber-optic cables that were over 6 miles long. With no radio signal the drone was impossible to detect, and impossible to jam. However, when former U.S. Marine Troy Smothers saw this, he built similar drones for Ukraine with an incredible range of 15 miles.

    Ground Combat Drones

    Robot ground drones are being used for a variety of purposes including delivering equipment such as landmines, and astonishingly Ukraine has developed a tracked drone armed with a Browning 12.7 mm machine gun – the Droid TW 12.7. It has a range of eight miles and is also equipped with hi-tech cameras for reconnaissance. They are limited in number but have great potential.

    Drone Traffic Lights

    A telegram user posted a video of a Russian military traffic light system. It flashes a yellow light when a distant hostile drone is detected. The light turns red when there is a high-level threat, and green when there are no nearby threats at all.

    Drone Detection From Space

    The Chairperson of the Russian Center for Unmanned Systems,  Andrei Bezrukov claimed on December 14 that the center developed the “Kalinka” monitoring system to detect drones that connect to satellite systems, including Starlink. Bezrukov claimed that the system can detect Ukrainian aerial and maritime drones up to 10 miles away.

    Specialized Military Drone Branches

    Ukraine and Russia have both established large, dedicated military drone branches.

    Ukrainian President Volodymyr Zelensky ordered  the establishment of a separate branch within the Ukrainian Armed Forces on February 6, 2024, called the Unmanned System Forces (USF). The USF is responsible for interactions with already existing unmanned systems units and with supporting these units. The USF is also responsible for supplying units with drones, training specialists, planning military operations involving unmanned systems, and cooperating with domestic unmanned systems manufacturers.

    In response the Russian Ministry of Defense (MoD) launched a coordinated effort in August 2024 to create a centralized separate branch for unmanned systems, likely to reorganize informal specialized drone detachments and centralize procurement of unmanned systems. The Russian MoD is mainly trying to consolidate the state’s control over Russian drone operators and developers, some of whom had enjoyed relative semi-independence from the Russian military bureaucracy.D

    While Russia seeks centralized control, Western armies are offering different tactics. Every British and American army platoon will now have a drone operator. The 75th Ranger Regiment at Fort Benning is being trained in using the RQ-28A short-range reconnaissance (SRR) quadcopter drone.  “The SRR RQ-28A capability will provide game-changing technology to Army platoons, enhancing both soldier lethality and survivability,” said Carson L. Wakefield.

    Peaceful Drones 

    Drones have incredible value in the civilian world. They assist in humanitarian and disaster response, engineering, construction, crop monitoring, weather forecasting, and search and rescue. They even have drones that can clean high-rise windows.

    Despite all the remarkable innovations above, drones are not as destructively effective on the battlefield as artillery, missiles and landmines. However, drones are what captures the public imagination. Now imagine drones that are not operated by humans at all, but by AI programmed robots. Are you ready for that?

    Patrick Drennan is a journalist based in New Zealand, with a degree in American history and economics.

    Tyler Durden
    Thu, 01/02/2025 – 23:25

  • Israel To Intensify Gaza Fight If Hamas Doesn't Release Hostages
    Israel To Intensify Gaza Fight If Hamas Doesn’t Release Hostages

    Amid reports of over 45,000 Palestinians dead following well over a year of fighting in the Gaza Strip, Israel is warning that it is preparing to escalate its offensive against Hamas even more.

    Defense Minister Israel Katz issued an ultimatum Wednesday, telling Hamas to immediately release the some 100 hostages that remain or else Israel deal it “blows with a force not seen in Gaza for a long time.”

    Via Retuers

    At this point the hostages have been held for more than 450 days, and many of the remaining one hundred are feared dead.

    “The IDF will intensify its activities against the terrorist nests in Gaza until the release of the hostages and the elimination of Hamas,” Katz warned while touring the southern Israeli city of Netivot.

    “I call on Gaza’s residents to rise up against the murderous Hamas group, which also uses you as human shields, and to bring about the release of the hostages, to prevent suffering and end the war,” Katz said.

    Netivot had witnessed a New Year’s Day salvo of Hamas rockets fired on it. The defense minister touted Israel’s “willingness to make far-reaching compromises in accordance with the principles outlined by the U.S. president.”

    On Thursday Reuters cited PM Netanyahu’s office as saying he has authorized the resumption of negotiations by an Israeli delegation in Doha. “Hostage negotiations are reportedly not stuck and there has been progress,” The Jerusalem Post additionally said.

    A new Israeli military statement has said that warplanes continue to be engaged in heavy operations over the Gaza Strip. “Air Force aircraft and control rooms are in direct contact with the fighting [ground] forces and support the fighting in the various sectors,” a statement said.

    The IDF added, “This is an early warning. Terror groups are again firing rockets from this area, which has been warned several times in the past.”

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

    But with much of the Strip already completely leveled and devastated, it’s hard to know how or in what ways Israel can still escalate. Hamas leadership has been degraded, but likely there are still many thousands more Hamas militants operating from the vast tunnel system, waging guerilla war.

    Tyler Durden
    Thu, 01/02/2025 – 23:00

  • 2025 Might Be A Tumultuous Year For South Asia
    2025 Might Be A Tumultuous Year For South Asia

    Authored by Andrew Korybko via substack,

    South Asia is generally thought of as a comparatively stable region whose primary problems are socio-economic development, which shouldn’t be underestimated but isn’t the same as the geopolitical turbulence that West Asia and Europe have recently experienced. That might be about to change.

    From Afghanistan to Myanmar, the latter of which can be included in South Asia due to its former role in the British Raj, the entire region is bracing itself for a tumultuous 2025.

    Beginning with Afghanistan, the latest tit-for-tat attacks between the Afghan Taliban and Pakistan across the Durand Line bode ill for the future of their bilateral relations. Kabul never recognized the British-imposed border between Afghanistan and what later became Pakistan. It’s also accused by Islamabad of harboring the Tehrik-i-Taliban Pakistan, also known as the “Pakistani Taliban”, which is a designated terrorist group. The Afghan Taliban, meanwhile, accused Pakistan of killing civilians in its latest strike.

    At the same time, Pakistan’s relations with the US are also deteriorating. The Biden Administration imposed new sanctions on its ballistic missile program, unprecedentedly targeting a state agency, while the State Department just condemned a military court’s conviction of 25 civilians. Returning US President Donald Trump’s envoy for special missions Richard Grenell is also advocating for the release of imprisoned former Pakistani Prime Minister Imran Khan. Ties will likely become more complicated.

    India’s found itself in a similar situation. A former Indian official was charged in October with organizing the attempted assassination of a Delhi-designated terrorist with dual American citizenship on US soil in summer 2023. Earlier this year, Russia gave voice to Indian suspicions that the US meddled in its general election, while some Indians believe that the US’ charges against billionaire business Gautam Adani are politically motivated. Others accuse the US of overthrowing the friendly government in Bangladesh too.

    On that topic, ties between these neighbors took a huge hit after former Prime Minister Sheikh Hasina fled her country during increasingly riotous protests over the summer. The new ruling arrangement in Bangladesh has adopted an ultra-nationalist position towards India, while India accuses it of turning a blind eye to retributive mob violence against the Hindu minority. Dhaka earlier accused Delhi of playing a role in August’s floods. This rising mutual distrust might soon have regional security consequences.

    And finally, Bangladesh would do well to a closer eye on Myanmar than on India, where the Buddhist nationalist Arakan Army just seized control of their narrow border and reportedly reaffirmed its prior accusations that Dhaka backs jihadist Rohingya groups. The speed at which rebels swept across the country since the start of their 1023 offensive in October 2023, which has since led to them reportedly capturing over half of the country, raises concerns that Myanmar might soon follow in Syria’s footsteps.

    As can be seen, socio-economic developmental problems are no longer South Asia’s greatest challenge, with geopolitical issues now coming to the forefront of policymakers’ attention instead. Three of them concern worsening inter-state relations between Afghanistan-Pakistan, India-Bangladesh, and Bangladesh-Myanmar, which add to exiting tensions between India-Pakistan. If there’s any geopolitical silver lining from the past year, it’s that India and China are now trying to patch up their problems.

    Prime Minister Narendra Modi and President Xi Jinping met on the sidelines of the latest BRICS Summit in Russia’s Kazan in late October. This followed the announcement that their countries had reached a long-awaited deal to mutually de-escalate their border crisis that led to lethal clashes in summer 2020. Provided that their incipient rapprochement remains on track, then it could alleviate their security dilemma, which would reduce military pressure along India’s northern border.

    On the flip side, however, the returning Trump Administration might disapprove of any meaningful improvement in Sino-Indo relations due to expected prioritization of containing China. This might lead to the US trying to incentivize India into slowing the pace of its rapprochement with China in exchange for relief from some of the pressure that the Biden Administration previously placed upon it. The existing charges would have to run their course, but there might be an informal agreement to not hype them up.

    India is the most important country in the region due to its demographic, economic, and military weight, which makes it a rising Great Power in what’s been described as the emerging multipolar world order, so its balancing act (known in Indian parlance as “multi-alignment” between other major players can have an outsized role on the region. In particular, this concerns its relations with the US, China, and Russia. Ties with Russia are excellent, they’re improving with China, while they remain complicated with the US.

    Trump is expected to bargain hard for American trade and investment interests the world over, and he criticized India for its high tariffs just several months ago, so he’s unlikely to propose any related concessions for incentivizing India to decelerate its rapprochement with China. What he can do, however, is pressure Bangladesh’s new ruling arrangement on the issue of minority Hindu rights and holding truly free and fair elections as soon as possible, which would be deeply appreciated by Delhi.

    Worsening US-Pakistani ties over the issue of the latter’s ballistic missile program, which Deputy National Security Advisor Jon Finer said could one day reach American soil, and Khan’s imprisonment would obviously be smiled upon by India but might not be enough to reach a deal on China. That’s why the aforementioned Bangladesh proposal would be a more realistic means to that end, but even if something is agreed to, India is unlikely to turn against China and become a US proxy.

    The most that it’ll do is slow down the pace at which their ties are improving in the hopes that more American pressure on the People’s Republic in the coming future, which would follow Trump’s plans to broker a ceasefire, armistice, or peace deal between Russia and Ukraine, could improve its hand. If India can once again position itself as the US’ top regional partner, which it was during the Obama years and Trump’s first term, then it’ll be much better placed to manage any forthcoming regional turmoil.

    Bangladesh and Pakistan don’t have anywhere near the importance for the US’ geostrategic interests as India does since they can’t serve as a partial counterweight to China like it can. Trump, who’s known to favor transactional deals, might thus privilege its regional interests so long as he can get something in return to justify this. Bangladesh might therefore be pressured to hold truly free and fair elections as soon as possible while Pakistan might be coerced into releasing Khan and then doing the same.

    From India’s perspective, it’s imperative to ensure that relations with Bangladesh’s new ruling arrangement don’t worsen, which the US can help it with. India also wants to contain the consequences of any Syrian-like collapse in Myanmar instead of risk having them spill over into its historically unstable Northeast States. The US can’t help as much in that regard, but some rebel groups are considered US-friendly and politically backed by the US, so it might be able to exert some positive influence on them.

    Another thing that India wants is a relief in American political pressure, including acceptance of the role that India and Russia play in each other’s complementary balancing acts vis-à-vis China, which meets US interests despite this not yet being widely acknowledged. The future of Indo-US relations under Trump 2.0 will ultimately play the largest role in determining the degree of tumult that South Asia experiences next year. A noticeable improvement would greatly reduce the scope of regional turmoil next year.

    Tyler Durden
    Thu, 01/02/2025 – 22:35

  • Deutsche Bank: "A Wake-Up Call For Sixth Gen" 
    Deutsche Bank: “A Wake-Up Call For Sixth Gen” 

    Following the release of footage last week showcasing China’s next-generation fighter-bomber on social media platforms like X, Deutsche Bank analyst Scott Deuschle issued a stark warning to clients.

    In his note, “A Wake-Up Call for Sixth Gen,” Deuschle characterized China’s rapid advancements in sixth-generation combat aircraft as a serious “wake-up call” for the United States Air Force. This development comes amid a race between the US, China, and Russia to produce fifth—and sixth-generation fighters, bombers, and hypersonic weapons. 

    Zoomed in. 

    “Emergence of this video and imagery follows several years of USAF inaction with respect to procuring sixth-generation aircraft other than B-21,” Deuschle said. 

    The analyst outlined the impacts on his defense coverage following China’s big reveal of the next-gen stealth tactical fighter bomber with a “diamond-shaped wing design.” He also noted a potential risk for commercial aerospace:

    1. There’s still a big future for advanced aircraft: There’s been a tremendous amount of handwringing in the investment community over the last year that the future of warfare may not require the types of sophisticated and highly-engineered platforms that have traditionally been procured by DoD, with low cost drones instead being debated as being better aligned with the trajectory of the DoD’s future needs. We think this unveiling throws cold water on that debate, as the capabilities procured by the US are necessarily linked to the capabilities that its peers can field or plan to field. And China is now showing that it is focused on procuring a combination of capabilities—one that continues to include highly capable platforms. More generally, we’d also note that low cost drones are generally only low cost because they don’t have modern jet engines, and an aircraft without modern jet engines is an aircraft that doesn’t offer much in terms of flying range or long-range sensing capacity. And an aircraft without those types of capabilities isn’t likely to be very effective in the Pacific, in our view. To be clear, we think there’s a role for low cost drones, but we think it’s more likely to be a complementary role rather than one that substitutes completely for the status quo.

    2. …but that future looks more challenging for F-35: We think this revealing adds some additional challenge to the future of the F-35 program. If China is flying demonstrators today for aircraft with capabilities potentially superior to the F-35, then it seems plausible to think that China may be able to industrialize production and field that capability potentially before F-35 Block IV is even completed; the Power & Thermal Management System (PTMS) capability isn’t likely to hit production until 2032 according to GAO. That China could potentially field 6th generation capabilities before F-35 achieves full Block IV capability is an unfortunate state of affairs, and would be a blow to the longer-term credibility of the platform if it happens. For Lockheed, winning a position on a 6th gen platform is now more important than ever, in our view.

    3. Capability gap potentially emerging…supports increased defense spending: One of the drivers of increased defense spending during the Cold War was the idea that a “bomber gap” and then that a “missile gap” existed between the US and the Soviet Union. These perceived capability deficits were used to justify increased defense spending at the time. We think that this reveal could drive increased alarm within Congress that the US military is falling behind, which may in turn drive improved Congressional support for increased defense spending.

    4. SAF’s budget outlook stronger: In addition to supporting increased defense spending generally, capability gaps of the past ultimately drove large procurement quantities for the platforms where the perceived deficit was focused—e.g. the US ultimately bought nearly 750 B-52s during its production run to address the bomber gap. With China now demonstrating a potential sixth generation aircraft capability, we think there will be more money directed to the USAF to procure additional quantities of aircraft tied to that gap—whether that’s B-21, NGAD, or otherwise.

    On a stock-specific level, Deuschle said, “Increased focus on US development and procurement of 6th gen capabilities would be most positive for NOC and BA at the level of the defense primes, GE for engine suppliers (given NGAP lead, no F-35 exposure), and CW, HXL, and CR for SMID cap suppliers. We see LMT and RTX as potentially having more to lose than to win here, given their relative positions to the F-35. We think the read for HWM is net positive, albeit with some potential long-term downside risk for its F-35 business.” 

    He noted that Trump 2.0 will likely scrutinize how China rapidly advanced its aerospace manufacturing capabilities, potentially surpassing the US in the next decade, 

    “If there is another supply chain shock that could hit commercial aerospace at some point in the coming years, it is within the context of this discussion where we’d be most concerned,” the analyst warned. 

    Tyler Durden
    Thu, 01/02/2025 – 22:10

  • Trump, Title IX, & 2025: Restore Real Learning, Stop Fringe Sexual Politics
    Trump, Title IX, & 2025: Restore Real Learning, Stop Fringe Sexual Politics

    Authored by Teresa Manning via American Greatness,

    What can we expect from the Trump Administration on Title IX?

    One hopes Trump will immediately undo the damage inflicted by Biden’s Education Department, including rescission of the Title IX rule issued in April, already enjoined by federal courts in over half the country. The usual suspects will make the usual noise and claim Trump is “anti-woman” and taking away rights, but if Trump focuses on ending sexual identity politics to restore learning, he will be removing controversy and Title IX abuses, not causing them.

    Title IX is the 1972 Congressional ban on sex discrimination in federally funded education.

    Called an equal access law for women, it was an outgrowth of equal opportunity initiatives based on race that were popular in the 1960s.

    But Title IX soon became the weapon of choice for feminists in government. They quickly interpreted it as requiring identical funding for female sports even when women weren’t interested and even as this decimated men’s teams. Then, they redefined “discrimination” to encompass “harassment” and “a hostile environment,” still nebulous terms that many define as subjective offenses, which are anybody’s guess, as the offense changes with the subject. This also makes healthy courtship a minefield since any romantic gesture, such as holding open a door, can offend someone and become a Title IX complaint. Then they expanded “harassment” to include alleged sexual assault, a matter of criminal law at the state level, not civil rights law from Congress. But that didn’t stop Obama education officials from directing campus Title IX offices to seek, find, and punish anyone merely accused of sexual misconduct by presuming guilt—an egregious violation of due process. Hundreds of students were suspended or expelled by what were then called campus kangaroo courts.

    Biden officials continued this abuse of Title IX by redefining the law’s central term “sex” to include same-sex orientation and “gender ideology” such that homosexuals and men pretending to be women (especially on women’s sports teams) could claim a Title IX violation when others did not approve or go along.

    The silver lining in this radicalization has been the inevitable pushback. Regular citizens have now woken up and are fighting back. For example, Trump’s Education Secretary Betsy DeVos reversed the abuses of the Obama administration, stopping campus kangaroo courts by issuing a formal Title IX rule that protected due process for the accused but also mandated support for any accuser. The DeVos rule received an unprecedented 125,000 public comments during the rulemaking process—most positive—showing widespread public support for ending Title IX due process nightmares. What’s more, when the DeVos rule was challenged in court, it was upheld as lawful and fair by every judge to review it.

    But Biden targeted the DeVos rule out of the gate in 2021 and then devised its own regulation, which includes the redefinition of sex. Unlike the DeVos rule, however, when the Biden regulation was challenged in court, it was found unlawful and unconstitutional (as administrative overreach), findings affirmed by the United States Supreme Court last August. As a result, it’s been enjoined in 26 states but applies in the remaining 24 where no lawsuits were filed.

    So America is now a Title IX patchwork, ready to be remedied by President Trump.

    How?

    On Inauguration Day, Trump should announce his intention to re-issue the DeVos rule and rescind the Biden regulation, citing the many federal court opinions on the latter’s unlawfulness. Trump’s Justice Department should also file Statements of Interest in the pending cases, informing the courts that the Department won’t be defending Biden’s actions.

    The Trump Education Department should also declare as null and void all Title IX Resolution Agreements between the Biden Education Department and individual schools.

    Many of these agreements are of highly questionable legality, as they appear to be the result of politically motivated investigations and, worse, impose conditions not authorized by law. For example, California’s Taft College was investigated for an alleged Title IX offense when faculty did not use female pronouns demanded by a male student who enrolled as a male. The faculty’s refusal to use pronouns was never a Title IX offense. The college should therefore not have even been investigated.

    Worse, the resulting Resolution Agreement requires faculty to use these pronouns—what is called compelled speech and is illegal—as if Title IX required it, though Title IX does no such thing. Worse still, Biden officials knew this since they were in the process of issuing a rule that made this very change. In short, Biden officials fraudulently treated their ideological goals as law and imposed them on Taft College.

    School districts are also targeted and subjected to legally questionable agreements with ideologically driven and expensive terms. The forthcoming report on the Education Department by the National Association of Scholars titled Wasteland: The Education Department’s Profligacy, Mediocrity and Radicalism, describes numerous such agreements with onerous conditions unauthorized by law and yet treated as binding legal precedent by the Biden Education Department. For example, the Resolution Agreement with the Rapid City Area Schools in South Dakota required the district to hire consultants and experts to “examine the root causes of discrimination” and to hire Diversity Directors and Directors of “Positive School Climate.”

    Trump should make sure that all this gets the ax.

    All that said, America should not kid itself that radicalization and the imposition of fringe sexual politics on schools are limited to Title IX. Unfortunately, sex (and race) identity politics are everywhere in American education. They lurk behind a myriad of buzzwords and phrases such as “diversity, equity, and inclusion” (“DEI”), “marginalized communities,” “underrepresented minorities,” and so on. Student conduct codes feature these terms along with policies on discrimination and harassment, which are variously defined and changing every day. Teachers and school staff from politicized teachers’ colleges have been fed this politicized content for years, and they feel entitled to impose it on students and unsuspecting families as part of their job.

    In fact, if academic assessments are any indication, they view it as their whole job. Last month, the “Trends in International Math and Science Studies,” or TIMSS survey, was published, showing declines among American students in math and science, similar to declines documented in other areas such as English, writing skills, and reading comprehension. It is not hyperbole to say that indoctrination has replaced education in most American schools.

    Trump should therefore act with confidence and resolve to shut down Title IX ideologies to restore real learning and academic excellence. He will be a hero not only to parents but to the entire country.

    Tyler Durden
    Thu, 01/02/2025 – 21:45

  • "Man-Made Virus, Watch Millions Die Biggest Profit Of Their Lives. Here's Inflation, That's Your Prize": Striking Anthem Of Our Time 
    “Man-Made Virus, Watch Millions Die Biggest Profit Of Their Lives. Here’s Inflation, That’s Your Prize”: Striking Anthem Of Our Time 

    Australian medical doctor and independent artist Iyah May has released a new track titled “Karmageddon,” which sheds light on the harsh realities of Twitter wars, political division, media manipulation, out-of-control inflation, Covid bioweapon, Dr. Fauci, and corporate greed. The song reflects the turmoil the world has endured over the past five years and might as well serve as a striking anthem of our time.

    Here are the lyrics to “Karmageddon” by Iyah May:

    I open up my phone on a Monday morning Staring at my screen, I’m tired and a little lonely Mr. Musk, he said some shit, the left’s are angry Twitter wars and Gaza, man, it’s overwhelming

    Maybe that’s how life becomes when People less important than a profit line No one cares about your dreams, just pay your tax on time Keep scrolling

    Hold me near to you now Gender, guns, religion, and abortion rights You better pick a tribe and hate the other side Keep scrolling (But did you see Taylor live?)

    Man-made virus, watch the millions die Biggest profit of their lives Here’s inflation, that’s your prize This is Karmageddon

    Turn on the news and eat their lies Kim or Kanye? Pick a side Cancel culture, what a vibe This is Karmageddon

    Corporations swear they never lie Politicians bribed for life More than war, it’s genocide This is Karmageddon

    Welcome to the chaos of the times If you go left and I go right Pray we make it out alive This is Karmageddon

    It’s fashion week, celebs lose ribs Balenciaga, how’s the kids? Just ask Drake, he’s losing beef Kendrick killed him in his sleep

    Diss tracks about beating up your queen While women dying doesn’t cause a scene While we’re fed all these distractions Kids are killed from Israel’s actions

    I’m a speak my mind Sick to death of all these crazy lies A circus for humanity’s decline We just want a peaceful life Give the people back their rights

    And I’ve still got a beef ‘Cause Fauci’s laughing and we’ve been asleep And WHO’s a liar and it’s running deep Big pharma finna eat They a devil, make them weak

    Man-made virus, watch the millions die Biggest profit of their lives Here’s inflation, that’s your prize This is Karmageddon

    Turn on the news and eat their lies Kim or Kanye? Pick a side Cancel culture, what a vibe This is Karmageddon

    Corporations swear they never lie Politicians bribed for life More than war, it’s genocide This is Karmageddon

    Welcome to the chaos of the times If you go left and I go right Pray we make it out alive This is Karmageddon

    On X, May said because of her controversial lyrics, “As some of you might know I am now an independent artist after I lost my manager because I didn’t change the lyrics of this song, and also left my label.” 

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    More about why she wrote the song: 

    “Fuelled by my own despair over a divided world and deceitful corporations, I channelled my frustration into Karmageddon. My career as a doctor has been greatly impacted, and I was affected on a deep and personal level.

    “For a long time, I felt isolated with my opinions. This song reflects the helplessness many of us feel in these dark times.”

    Full music video:

    Politically themed music has soared in popularity as the ‘Fourth Turning‘ deepens across the West… 

    Tyler Durden
    Thu, 01/02/2025 – 21:20

  • Classified CIA Experiment Claims Life Did Exist On Mars And They Built Pyramids
    Classified CIA Experiment Claims Life Did Exist On Mars And They Built Pyramids

    Via The Mind Unleashed,

    Imagine unlocking a door in your mind and stepping onto a barren, windswept landscape – alien skies above, ancient pyramids towering in the distance, and whispers of a civilization long gone. This might sound like the plot of a science fiction novel, but it’s exactly what unfolded in a classified CIA experiment during the height of the Cold War.

    Through a top-secret program known as the Stargate Project, intelligence officers turned to psychics in hopes of gaining access to inaccessible places. One such session led to an astonishing revelation: descriptions of life on Mars over a million years ago, complete with advanced beings and monumental structures. Could these accounts hold the key to understanding our own planet’s mysteries—or were they simply the product of an overactive imagination? As the once-classified files are revealed to the public, they reignite questions humanity has been asking for centuries: Are we alone? And if not, how much of our history is truly ours?

    The Stargate Project: Espionage Meets the Supernatural

    At the height of the Cold War, espionage wasn’t limited to gadgets, codes, and spies. The United States was racing not only against its earthly adversaries but also against the boundaries of human consciousness. Enter the Stargate Project, a CIA-backed program exploring the potential of “remote viewing,” a technique where individuals claimed to mentally perceive events, locations, or objects from great distances without physical presence.

    “Remote viewing refers to a type of extra-sensorial perception that involves using the mind to ‘see’ or manipulate distant objects, people, events, or other information that are hidden from physical view,” Popular Mechanics explains. This practice was more than just speculation—it was part of a serious effort to harness the untapped potential of the human mind for intelligence purposes.

    This wasn’t a fringe experiment by secretive hobbyists—it was a government-funded initiative blending espionage with the supernatural. Participants, often labeled as psychics or gifted individuals, were tasked with extraordinary missions: seeing inside secure facilities, locating hidden objects, and even uncovering secrets from other planets. The project aimed to turn thought into a weapon, hoping to outpace the Soviet Union in a battle for the mind.

    In 1984, one such experiment took a surprising turn. A remote viewer, given coordinates with no prior context, described visions that defied explanation. The focus? Mars. The timeline? Over a million years ago. What followed was a vivid account of a planet that seemed alive, filled with monumental structures and intelligent beings. Was this the breakthrough the CIA hoped for, or the limits of human imagination? The story of what they found—or claimed to find—on Mars would challenge conventional thinking for decades to come.

    Remote Viewing the Red Planet: A Journey Back in Time

    In the dimly lit room of a classified CIA facility, a remote viewer sat silently, focusing on a set of coordinates provided by their handler. They were given no information about the location or purpose of the session. As they concentrated, an extraordinary vision unfolded—one that seemed to transcend time and space.

    The remote viewer described a desolate Mars, not as it is today, but as it might have been over a million years ago. Towering dust storms raged across the surface, but the landscape was marked by massive pyramid-like structures, crumbling yet majestic, speaking of a once-great civilization. The viewer spoke of intelligent beings, tall and thin, struggling to survive in the aftermath of a cataclysmic event that had ravaged their planet.

    These Martian inhabitants were described as desperate, searching for a way to escape their doomed world. Some had reportedly ventured to “safe places,” leaving behind their architectural marvels as monuments to their existence. The vividness of these accounts captivated the CIA officers present, raising questions that extended far beyond intelligence gathering. Were these glimpses a window into a forgotten past—or simply the creative workings of the human subconscious?

    What made this session particularly remarkable was the level of detail: the remote viewer described the structures, the atmospheric conditions, and even the emotional state of the beings with uncanny specificity. But these revelations would spark debates, leaving many to wonder whether such visions were rooted in truth or the limitations of an experiment that strayed into the realm of the extraordinary.

    Pyramids on Mars: An Alien Connection?

    Among the most captivating details from the 1984 session was the description of massive pyramid-like structures scattered across the Martian surface. These were not crude formations shaped by nature but, according to the remote viewer, deliberate constructions—evidence of a once-thriving civilization. The pyramids, though weathered and ancient, were described as bearing a striking resemblance to those found on Earth, particularly in their geometric precision and imposing scale.

    The idea of pyramids on Mars isn’t new; it has long fueled theories about ancient astronauts and interplanetary connections. Could these structures be linked to the pyramids on Earth? Some speculate that civilizations across the cosmos shared advanced knowledge, leaving behind similar architectural legacies. Others suggest that Earth’s ancient structures were inspired or even influenced by visitors from Mars, their knowledge passed down through myths and legends.

    However, skepticism tempers such tantalizing ideas. Geologists and planetary scientists argue that what appear to be pyramids could easily be natural formations, shaped by erosion over eons. Yet, the specificity of the remote viewer’s descriptions challenges this dismissal. The pyramids were said to be part of a larger, structured environment—a city or complex left in ruins after a catastrophic event.

    If these claims hold even a shred of truth, the implications are profound. Did an advanced civilization once thrive on Mars? Were they capable of space travel, and could they have influenced Earth’s early cultures? Or are these visions simply a mirror of humanity’s own longing to connect with the cosmos? As the mystery deepens, the pyramids on Mars stand as a symbolic bridge between what we know and what we may never understand.

    Declassified Mysteries: Why Now?

    The declassification of the Stargate Project files, including the 1984 Mars experiment, has added fuel to ongoing debates about extraterrestrial life and the limits of human understanding. But why were these files, shrouded in secrecy for decades, released now?

    Some believe the timing is strategic, coinciding with growing public interest in UFOs and the search for alien life. Recent government disclosures on unidentified aerial phenomena (UAPs) have sparked a wave of curiosity and speculation. By releasing documents from projects like Stargate, the CIA may be acknowledging the public’s demand for transparency about the unknown.

    Others suggest a more pragmatic motive: the files may serve as a historical record of Cold War-era innovation and the unconventional methods pursued in the quest for an edge over adversaries. Projects like Stargate symbolize the lengths intelligence agencies were willing to go, even if the results were inconclusive or scientifically questionable.

    Regardless of intent, the release of these files has reignited interest in the boundaries of what we consider possible. As new generations discover these accounts, they’re confronted with the question of how much we truly know about our universe—and how much remains hidden in the archives of history.

    The timing of the declassification is also significant in the context of space exploration. With missions like NASA’s Perseverance rover uncovering new data about Mars and private companies pushing the limits of human space travel, the mysteries of the Red Planet feel closer than ever. Perhaps these revelations serve as a reminder that the answers to our greatest questions may be found in the unlikeliest places.

    Reflections: What Does This Mean for Humanity?

    At the heart of the Mars experiment lies a question that transcends scientific skepticism or government secrecy: What does it mean if life once existed beyond Earth? Whether viewed as a glimpse into an ancient civilization or as an imaginative projection of the human mind, the claims invite us to reconsider humanity’s place in the cosmos.

    For centuries, we have gazed at the stars, searching for connections to something greater. The possibility that Mars once harbored intelligent life stirs both excitement and existential unease. If civilizations on other planets rose and fell, what lessons might their histories hold for us? Could their demise foreshadow humanity’s own challenges in preserving its world?

    The 1984 session, while controversial, also highlights the power of the human imagination and its ability to explore realms far beyond our physical limitations. It bridges the gap between hard science and the metaphysical, offering a unique lens through which to view our universe.

    Ultimately, these revelations are a testament to our unending curiosity and our relentless pursuit of answers to the unknown. Whether or not pyramids and civilizations once dotted the Martian landscape, the story challenges us to keep asking, exploring, and imagining. After all, the search for life beyond Earth isn’t just about what we might find—it’s about what the journey reveals about ourselves.

    The Uncharted Frontiers of Mystery

    The declassified CIA experiment that claimed to uncover a glimpse of life on ancient Mars is as compelling as it is divisive. From towering pyramids to civilizations grappling with survival, the remote viewing session from the Stargate Project bridges the line between science fiction and the tantalizing possibility of alien histories.

    While skeptics challenge the legitimacy of such accounts, the sheer detail and imagination behind them leave room for reflection. Could these stories hint at something larger—an interconnectedness across time and space—or are they a testament to the creativity and curiosity of the human mind?

    As we continue to explore Mars through rovers and satellites, the allure of these ancient claims lingers, reminding us that the universe holds countless mysteries waiting to be uncovered. Whether through scientific discovery or the power of human wonder, the answers we seek may one day reveal themselves, or they may remain forever in the realm of the unknown. Until then, Mars continues to inspire dreams, debates, and the age-old question: What if?

    Tyler Durden
    Thu, 01/02/2025 – 20:55

  • "Trump Is Not Wrong" – MSNBC Finally Admits Massive Spike In Illegal Immigration Under Biden
    “Trump Is Not Wrong” – MSNBC Finally Admits Massive Spike In Illegal Immigration Under Biden

    Unless you have lived under a rock or never dared to venture beyond MSNBC or CNN or the front page of the New York Times as your source of ‘news’, none of this will come as a surprise at all…

    But, for those that have lived blinkered from the truth about the border for the past four years, MSNBC just sent your minds to ’11’ on the ‘cognitive dissonance’ scale as they dared to show a chart that – hold your breath here for a moment – shows a massive surge in illegal immigration during Biden’s reign (especially compared to Trump’s).

    “The border was not Biden’s finest moment, frankly,” former Obama administration official Steve Rattner sheepishly admits while showing the dramatic chart, shocking his co-host on MSNBC’s Morning Joe by admitting that:

    “you can see what happened here and Trump is not wrong when he talks about how border crossings were quite low.”

    “They were running about 74,000 a month when he left office. And they, in fact, did shoot up. Some of it was some things Biden said and some ways that they put a moratorium, for example, on deportations.”

    “But in fact, we did get up here almost to 300,000 a month,” Rattner continued.

    Enjoy…

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    As a reminder, Secretary of Homeland Security Alejandro Mayorkas claimed that the border is secure on multiple occasions prior to a March 2024 impeachment vote in the House of Representatives, despite the fact that the Border Patrol encountered millions of illegal immigrants since the start of fiscal year 2021, according to figures released by U.S. Customs and Border Protection (CBP).

    Tyler Durden
    Thu, 01/02/2025 – 20:30

  • Corporations Clinging To DEI Will Lose Social License To Operate
    Corporations Clinging To DEI Will Lose Social License To Operate

    Authored by Stefan Padfield via RealClearMarkets.com,

    Americans hate racial discrimination, and they hate inequality borne of government force. However, if you try to solve the problem of inequality by engaging in Orwellian and neo-racist “discrimination in the name of anti-discrimination” (often advanced under the banners of “antiracism” and “DEI” — “diversity, equity, and inclusion”), then you will sooner or later experience the wrath of the people. The recent judicial rebuke of Nasdaq’s diversity rule adds to the drumbeat of feedback alerting corporations to this fact: If corporations want to maintain their social license to operate, then they must stop discriminating on the basis of race.

    In National Center for Public Policy Research (NCPPR) v. SEC, the en banc U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s approval of Nasdaq’s “Board Diversity Rules.” I work for the National Center, and our excellent attorneys at the New Civil Liberties Alliance (NCLA) described the discredited rules as follows: “These Rules imposed gender, race and sexual orientation quotas on corporate board membership for Nasdaq-listed companies, compelling those that failed to meet their board seat quotas to explain why or face involuntary delisting from the stock exchange.”

    You can read the National Center’s press release as well as NCLA’s press release for more detailed analysis of the case.

    The short of it is that the SEC exceeded its statutory authority in approving the rule because the rules advanced none of the express purposes of the governing statute, but were instead a thinly veiled attempt to shame corporations into advancing the forced neo-racist social engineering that’s become so popular as “antiracism” the past few years.

    In reading some of the subsequent analysis, I was particularly struck by Professor Ann Lipton’s conclusions. In part, Lipton writes that:

    “I tend to agree that [the] diversity disclosure rule is not, in fact, intended to help investors price securities or even to adopt governance practices that contribute to wealth creation; it is more in the category of the kind of rule that serves a kind of signaling function, that the corporation is exercising its power responsibly and inclusively.  It’s a display of self-governance and discipline, in a manner that costs corporations very little but perhaps wins them legitimacy.  It benefits companies and investors, but not in the traditional manner by which the securities laws operate; it does so by contributing to their social license to operate.”

    It is worth noting that Lipton – with whom I used to co-blog at the Business Law Prof Blog, and who is an excellent scholar – does not even try to defend the diversity rule with the worn out “diversity is good for the bottom line” trope, which has by now been thoroughly debunked to the point that the SEC itself could not mount a defense on that basis (though that doesn’t stop DEI advocates from continuing to claim the business case for diversity has been proven, which is a lie).

    Lipton goes on, however, to argue that diversity disclosures support a corporation’s social license to operate. The problem with this assertion, however, is that it boils down to arguing that racial discrimination is good for society. But once one sees through the lovely sounding “diversity, equity, and inclusion” mantra, one is left with the unmistakable conclusion that what is going on in the name of DEI is nothing short of sorting people into buckets based on their race (and other related identity categories), and then allocating resources like jobs, promotions, and financial support on that basis. While it has indeed taken Americans some time to figure this out, they have now done so – and corporations are quite properly dumping DEI fast.

    But not all corporations, of course. In reporting on the Nasdaq ruling, it has been noted that the Big 5 (the Big 3 asset managers BlackRock, Vanguard, and State Street, together with the Big 2 proxy advisory firms ISS and Glass Lewis) still push corporations to allocate resources on the basis of race and sex in various ways. For a more specific example, one need look no further than Goldman Sachs, which denies its IPO services to companies that don’t meet Goldman’s neo-racist social engineering vision: “In 2021, the bank upped the requirement to two diverse board members, including at least one woman.” In other words, straight white male boards don’t just go to the back of Goldman’s IPO bus, they aren’t even allowed on.

    In 2020, we were told a reckoning was coming. Well, it’s now 2024 and the terms of that reckoning have changed. Corporations that continue to force “antiracist” neo-racism on their employees and other stakeholders will be left facing boycotts and lawsuits that will materially harm their bottom line. And don’t let them tell you they weren’t warned — they were.

    Finally, let’s keep in mind that addressing inequality doesn’t require neo-racism. Instead, progress can be made by focusing on socio-economic status or geographic and viewpoint diversity. It’s time corporations stopped dividing us on the basis of race and got back to uniting employees around the common goal of providing the best products and services so that the poverty-eradicating engine of free market capitalism can continue to maximize the spread of prosperity.

    Tyler Durden
    Thu, 01/02/2025 – 20:05

  • Biden Presented With Options To Strike Iran Nuke Sites If Tehran Speeds Toward Bomb
    Biden Presented With Options To Strike Iran Nuke Sites If Tehran Speeds Toward Bomb

    President Biden was presented with options for a potential US attack on Iran’s nuclear facilities in the scenario that Tehran was deemed by the intelligence community as speeding toward a bomb.

    Per a Thursday Axios report citing several insider sources, the Biden admin discussions were based on “if the Iranians move towards a nuclear weapon before Jan. 20″ and came in “a meeting several weeks ago that remained secret until now.”

    No final decision was made, the report noted, and was not necessarily prompted by fresh or specific intelligence of a new threat, but was part of “prudent scenario planning” related to if the Islamic Republic reaches Uranium enrichment to 90% purity before Jan. 20.

    Western officials have feared that due to fast-moving events in the region, most notably Hezbollah’s leadership being decimated and the collapse of the Assad government, the Iranians could be desperate enough to pursue nuclear weapons in order to restore the security balance in the region, given Israel has clearly come out on top.

    Interestingly, months ago when Israel and Iran conducted tit-for-tat direct strikes on each other, President Biden made it clear that the US would not back Israeli attacks on Iran’s nuclear facilities.

    The internal Biden White House ‘scenario planning’ discussions were said to have taken place about a month ago. One source tried to caution that “there are currently no active discussions inside the White House about possible military action against Iran’s nuclear facilities,” Axios noted.

    There is an international consensus that Iran has increased its Uranium enrichment to 60%, putting it within easy striking distance of being able to develop a bomb if it wanted to.

    Axios has also pointed out that “Even if Iran decided to build a bomb, it would need to develop a nuclear explosive device or warhead. Israeli intelligence believes that would take at least a year.”

    All of these newly revealed executive branch discussions over whether to launch a preemptive attack on Iranian nuclear sites are taking place completely outside of Congressional debate or approval.

    The last several US administrations have argued that they don’t need Congressional approval in launching such strikes, whether it be on Syria, Iraq, Iran, or Libya. 

    Trump in his first administration tried but failed to bring the troops occupying northeast Syria home, but deeper entanglement in striking Iran could surely draw these troops into a broader conflict. The Pentagon would in that case likely expand its deployed forces in the region as well.

    Iran has long maintained it develops only peaceful nuclear energy, and there’s little doubt that after the dramatic events that unfolded in Syria, and with Hezbollah top leadership removed by Israeli attacks (especially the assassination of Hassan Nasrallah), Tehran finds itself on a back foot. 

    Some Israeli and Western officials believe that all of this will make Iranian leaders more desperate to ensure they have a final and ultimate defense against any threats (as in rapidly developing a nuke).

    But if a soon to be inaugurated Trump were to authorize strikes on Iranian facilities, this would also obviously violate his frequent vows to his voters to not start new wars in the Middle East. The reality is that even ‘limited’ strikes still constitute an act of war. The potential for runaway escalation involving the US, Iran, and Israel would be a much bigger likelihood. 

    Tyler Durden
    Thu, 01/02/2025 – 19:40

  • Australia's Misinformation Bill Is Dead… For Now
    Australia’s Misinformation Bill Is Dead… For Now

    Authored by Maryanne Demasi via The Brownstone Institute,

    It is official. 

    The Australian government’s attempt to ram through legislation to combat misinformation online has been blocked after the Greens party announced it would not support the controversial bill.

    “We are concerned this bill doesn’t actually do what it needs to do when it comes to stopping the deliberate mass distribution of false and harmful information,” said Greens Senator Sarah Hanson-Young.

    This unexpected move is said to be the final nail in the coffin for the bill that intended to grant the media watchdog unprecedented regulatory powers to oversee digital content and determine what is ‘misinformation.’

    A Domino Effect

    During this week, an interesting display of parliamentary dynamics unfolded as an array of Senators announced they would oppose the bill, one by one.

    Senators Lidia Thorpe, Tammy Tyrell, David Pocock, Jacqui Lambie, Gerard Rennick, Fatima Payman, and others declared their opposition.

    Their reasons varied from concerns over government overreach, and vague definitions of misinformation, to the implications for political discourse and the potential for misuse. Each statement chipped away at the bill’s support, creating a domino effect.

    An urgent call to action resulted in significant public outcry. Australians, concerned about their digital rights, flooded senators with emails, petitions, and social media campaigns.

    The sheer volume of these communications likely played a crucial role in shaping the Senators’ views.

    The vigorous debate also garnered international attention.

    Michael Shellenberger, an American author and free speech campaigner, visited Australia to warn that these “totalitarian” laws would have implications for democracy, and blur the line between regulating harmful content and stifling dissent.

    Nov 20, 2024 – Michael Shellenberger on Sky News Australia

    According to Shellenberger, misinformation should be countered with more and better information, not through suppression or censorship.

    Elon Musk, whose influence in the digital sphere is undeniable, especially after taking the helm of X, expressed similar views, and has been vocal about his disdain for what he perceives as “overreach” in digital governance, labelling the failed bill as “fascist.”

    Digital ID for Under 16s

    It has not quelled the government’s enthusiasm for its proposed ban of social media access for individuals under 16. This bill, which introduces a mandatory age verification process, has implications for digital identity and privacy.

    The rapid legislative push on Thursday only allowed a 24-hour window for public submissions, a move to fast-track the controversial legislation without due public scrutiny.

    The bill would require all Australians to undergo identity verification to use social media, raising alarms about the collection and potential misuse of personal data. The process could involve gathering biometric data, posing a risk for data breaches or misuse.

    Today, Musk described the legislation as a “backdoor way to control access to the internet,” which promises to punish platforms, including X, with steep fines if they allow children under age 16 to hold social media accounts.

    The combination of these legislative proposals (the misinformation bill, and the digital ID for under-16s), paints a picture of a government intent on tightening control over what you can say and read online.

    What Happens Now?

    After this week’s news, the Labor government must now retreat and reassess.

    It could decide to abandon the legislative approach altogether and focus on other means like public education campaigns or working with social media platforms on voluntary codes of practice. But this is unlikely.

    The government will most probably go back to the drawing board, either to revise the bill with more stringent protections for free speech or to explore alternative, less direct methods of addressing misinformation, hoping to revive the bill in the new year.

    Republished from the author’s Substack

    Tyler Durden
    Thu, 01/02/2025 – 19:15

  • Make Lithium Great Again: Peer-Reviewed Study Reveals Whole-Body Benefits Of Supplementation
    Make Lithium Great Again: Peer-Reviewed Study Reveals Whole-Body Benefits Of Supplementation

    Lithium is best known as a medication for treating bipolar disorder, where it’s used in higher doses to stabilize mood and reduce the risk of suicide. But now, researchers are uncovering evidence that this humble mineral may offer benefits far beyond mental health – at doses much smaller than those used in traditional therapies. A 2023 study from Brock University explored these possibilities in depth.

    Before we continue – yes, we sell low-dose lithium in a product called Mood from IQ Biologix. We take it. It works – really well. Whether or not you give it a try, please read on as the findings from the above study are legit, and this naturally occurring mineral can be a great alternative to prescription drugs for a variety of needs. If you’re into studies, we encourage you to read it.

    Published in the peer-reviewed Current Neuropharmacology, the findings suggest lithium may play a huge role in some of the biggest health challenges of aging, including Alzheimer’s disease, osteoporosis, and type 2 diabetes.

    Brain Health: Lithium’s Hidden Gift

    Lithium’s connection to mental health is well established. It stabilizes mood by helping balance chemicals in the brain, like serotonin and dopamine, that influence how we feel and respond to stress.

    But according to the study, even tiny doses of lithium could protect the brain in other ways. One of the most promising applications is cognitive decline, including Alzheimer’s disease.

    “Li is well-known to have multiple neuroprotective effects that can be used against Alzheimer’s Disease pathology. In fact, numerous studies in patients receiving Li for bipolar disorder have reported lower rates of dementias, including AD.” –Beyond Its Psychiatric Use: The Benefits of Low-Dose Lithium Supplementation, 2023

    The researchers found that lithium inhibits glycogen synthase kinase 3 (GSK3), an enzyme linked to the buildup of harmful plaques and tangles in the brain. By reducing these toxic accumulations and boosting levels of a brain-supportive protein called BDNF, lithium may help preserve memory and cognitive function well into old age. The study also referenced ecological research showing that areas with higher levels of lithium in drinking water had lower death rates from Alzheimer’s disease [1, 2, 3]. While the exact reasons are still unclear, these findings point to lithium’s potential for maintaining brain health over time. 

    What about that famously fabricated research on the Amyloid Plaque hypothesis? That focused on a narrow subpopulation of amyloid beta oligomers – while the original hypothesis itself is alive and well. Current research suggests Alzheimer’s is a combination of amyloid plaque accumulation, misfolded proteins, neuroinflammation of Microglia cells (the brain’s primary immune cells), genetic factors, oxidative stress, mitochondrial dysfunction, synaptic loss, and cerebrovascular issues.

    A Stronger Heart and Healthier Arteries

    Lithium’s benefits don’t stop with the brain—it may also help keep your heart healthy. At low doses, the researchers found that lithium supports the heart’s ability to adapt to stress, helping it pump blood more effectively. It also protects blood vessels by reducing inflammation and preventing harmful plaque buildup, which can block circulation. However, the study highlighted an important consideration: while lithium’s short-term effects on the heart are positive, long-term use might carry risks under certain conditions. Prolonged GSK3 inhibition, for instance, could contribute to excessive heart muscle growth in specific scenarios, such as chronic stress on the heart. More research is needed to fully understand these potential effects.

    Building Strong Bones and Maintaining Muscle

    Aging often brings declines in bone strength and muscle mass, increasing the risk of fractures and mobility issues. The study found that lithium may counteract these changes by directly supporting bone and muscle health. In bones, the researchers showed that lithium activates pathways encouraging bone-forming cells, called osteoblasts, to work more effectively. This process increased bone density and improved fracture healing in animal models. In some cases, lithium even restored bone strength in fragile skeletons to levels seen in healthy controls.

    For muscles, lithium was shown to enhance repair by promoting the fusion of muscle cells during regeneration. It also encouraged a shift toward fatigue-resistant muscle fibers, which could help preserve strength and mobility as we age, reducing the risk of falls and fractures.

    Tackling Inflammation and Cellular Damage

    As we get older, our bodies tend to experience more inflammation and damage from unstable molecules called free radicals. These issues, collectively referred to as oxidative stress, can lead to chronic diseases and accelerate aging. According to the study, lithium helps combat these issues in several ways. It reduces inflammation and supports a cellular “clean-up” process called autophagy, which clears out damaged proteins and debris. By enhancing these processes, lithium may help cells maintain their function and resilience over time.

    Metabolism Support: Fighting Fat and Sugar Issues

    Another surprising benefit of low-dose lithium is its potential role in preventing obesity and type 2 diabetes. While high doses of lithium can sometimes cause weight gain, the study found that smaller amounts may have the opposite effect. The researchers demonstrated that lithium helped convert white fat (which primarily stores energy) into beige fat, a more metabolically active type that burns calories. It also improved blood sugar control in animal studies, mimicking some of the effects of exercise. These findings suggest lithium may be a valuable tool in managing metabolic health.

    “Of interest, we have recently shown, at the population level, trace levels of Li found in publicly available drinking water to be negatively associated with the prevalence of obesity and diabetes across the state of Texas.”

    A New Chapter for Lithium

    While the potential benefits of low-dose lithium are exciting, this is still an emerging field. Scientists, including Hamstra and her team, are working to determine the best ways to use lithium safely over the long term. What’s clear is that lithium—once seen only as a psychiatric medication—is revealing itself as a versatile and powerful mineral for overall health. From protecting the brain to strengthening the heart, bones, and muscles, this overlooked element may hold the key to staying healthier, longer. As researchers continue to explore lithium’s potential, it offers a glimpse of what the future of aging well could look like. For now, this tiny but mighty mineral is quietly making its case as a surprising ally in the quest for a healthier life.

    Snag some low-dose lithium here…

    Tyler Durden
    Thu, 01/02/2025 – 18:55

  • US Establishing New Military Base In Aleppo Province
    US Establishing New Military Base In Aleppo Province

    Following the December 8 overthrow of Bashar al-Assad amid the rapid takeover of Syria by al-Qaeda splinter group Hayat Tahrir al-Sham (HTS), the big question for the incoming Trump administration in the US will be whether to finally pull American forces from Syria, after they’ve been there for a half-decade.

    For now it seems US troops are not only maintaining their bases in the northeast, where Syria’s oil and gas fields are located, but are actually expanding the Pentagon presence, and very close to the border with Turkey.

    On Thursday the London-based Syrian Observatory for Human Rights (SOHR), which has long been known as an anti-Assad opposition outlet in exile, said that US forces are making preparations to establish a new military base in the northern city of Ain Al-Arab, or Kobani.

    Illustrative file image: US forces in Syria

    The outlet cited its observers on the ground who say US forces brought in a convoy of 50 trucks carrying cement blocks to areas of northeast Syria controlled by the US proxy Syrian Democratic Forces (SDF, a group largely dominated by Syrian Kurds).

    Ain Al-Arab is a district of Aleppo province in northern Syria. The area around Aleppo saw sporadic fighting between Syrian Kurds and HTS jihadists throughout December.

    “SOHR activists have reported seeing the convoy on Al-Hasakah-Al-Raqqah highway, while it was heading to Ain Al-Arab area (Kobani) in the eastern countryside of Aleppo,” the report described, and noted that a SDF military vehicle was providing escort.

    “According to SOHR sources, this comes as a part of US forces’ efforts to boost their bases and establish a new military base in Ain Al-Arab in light of the growing security and military tension in that region.” Russia’s Sputnik is also reporting the development.

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    The SOHR report provided additional details strongly suggesting a new US military base on this border region near Turkey:

    Yesterday, SOHR sources reported that “International Coalition” forces brought a convoy of logistic reinforcements including premade chambers, surveillance cameras, cement blocks, fuel tanks and digging machineries towards Ain Al-Arab (Kobani).

    According to reliable SOHR sources, the digging and drilling will start tomorrow and more military reinforcements such as soldiers, weapons, armored vehicles, radars and anti-aircraft weapons will be brought.

    The border region has for years seen clashes between Turkish-backed militant groups and the US armed and trained SDF. Turkish warplanes have also at times bombed Syrian Kurdish positions.

    Via MGN

    The United States is in a precarious position in Syria given that almost no group – with the exception of the Kurds – wants US troops occupying Syrian territory. Turkey has long accused Washington of supporting ‘terrorists’ given it sees the SDF as an extension of the outlawed PKK.

    Damascus’ new HTS rulers are certainly going to want access to the country’s oil and gas fields, in order to deliver on promises of getting electricity and fuel back up and running for the population. The US has long held on to these energy resources for leverage, and to starve the prior Assad government of its resources, also amid sanctions. What will Trump do this time around?

    Tyler Durden
    Thu, 01/02/2025 – 18:50

  • Vegas Police Say "Very Strange Similarities" Between Cybertruck Bombing & Bourbon Street Massacre
    Vegas Police Say “Very Strange Similarities” Between Cybertruck Bombing & Bourbon Street Massacre

    Welcome to the second day of 2025.

    *   *   *

    Update (1859ET): 

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    But…

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    *   *   *

    Update (1849ET): 

    The FBI’s field office in New Orleans wrote on X, “Newly released surveillance photos show Shamsud- Din Jabbar a little more than an hour before the deadly Bourbon Street attack.”

    *   *   *

    Update (1736ET): 

    Academy Securities published a note summarizing the views of four retired US generals on the Cybertruck bombing and the New Orleans terrorist attack:

    General Spider Marks: “Most importantly, we must acknowledge that terrorism in its many forms (both kinetic and non-kinetic) will never be eliminated or determined irrelevant. As the investigation continues, we’ll know more about the motivation of the attack. Regardless, all forms of terrorism require a network of inspiration and support. Where isolation occurs, virtual access to a ‘community’ of shared interests and beliefs provides a readily available justification for action. There is no ‘lone wolf’ anymore. More facts to follow, but terrorism still exists.”

    General John Evans: “It is likely premature to assess motives, motivations, and linkages. However, the ‘vehicle as a weapon’ TTP (tactics, techniques, and procedures) that we have seen used with devastating effect in Europe (and the US), although not new, now creates yet another attack vector which local, state, and federal law enforcement must plan for at events such as the gathering we saw in New Orleans. Individuals suffering from political or personal disenfranchisement can now leverage the ubiquity of motor vehicles to inflict great harm in virtually any setting, since most security plans only focus on keeping vehicles away from critical nodes or VIPs.”

    General Robert Ashley: “The intel community will be focused on any reflections on the attack which normally would happen within the first 24-36 hours. Given the domestic nature of the attack, I would expect a joint White House/FBI announcement in the near-term if there is a foreign nexus, otherwise updates will likely remain in law enforcement channels. We become less vigilant with each passing day. Significant calendar events (New Year’s) and major public events require greater vigilance, which means increased funding for the security forces that protect all of us daily. Moreover, it will require greater tolerance by the public regarding the associated delays of enhanced force protection. As this unfolds, it will be key to uncover the attacker’s network (domestic and/or foreign) and to determine if there are any foreign connections (that include nation state involvement) that may have assisted or motivated the attacker(s).”

    General Rick Waddell: “It is too early to say anything decisive, but if news accounts are in any way accurate then: 1) more people than just the driver were involved in NOLA; 2) this terror cell spent time preparing and planting IEDs; and 3) NOLA was changing out its bollards blocking vehicular traffic from Bourbon Street and were months into the project with a targeted completion date before the 2025 Super Bowl, but not before the New Year’s celebrations or the Sugar Bowl. In the absence of the bollards, a police vehicle was used to block the entrance to Bourbon Street, but the killer avoided the blocking vehicle by simply driving onto the sidewalk. What is unknown is whether the NOLA event is connected to what now looks like a suicide vehicle bombing outside the Trump Tower in Las Vegas. Both attacks used vehicles that were rented through the app Turo. As Spider points out, terrorism is with us and won’t go away. We can harden likely targets, we can put up barriers (like the bollards) before key events, we can increase guard forces for key facilities and key events, and we can use intelligence and law enforcement methods to penetrate terrorist cells.”

    *   *   *

    Update (1518ET): 

    In Vegas, Clark County Sheriff Kevin McMahill told reporters that the Cybertruck bomber, Matthew Livelsberger, shot himself in the head before the vehicle exploded.

    McMahill stated that a handgun was found at Livelsberger’s feet. However, this is not definitive evidence about the timing of the death. Remember, the Cybertruck has Full Self-Driving… 

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    More headlines from the press conference: 

    • LAS VEGAS POLICE: FOUND SEMI-AUTOMATIC WEAPON IN CYBERTRUCK

    • LAS VEGAS POLICE: ALSO FOUND MILITARY ID IN CYBERTRUCK

    • LVMPD: SUBJECT WENT TO SEVERAL PLACES ALONG LAS VEGAS BOULEVARD

    • ATF: GUNS WERE LAWFULLY PURCHASED BY LIVELSBERGER; GUNS WERE PURCHASED ON DEC. 30

    • FBI: NO IDEOLOGY LEADING TO TRUMP, TESLA IN CYBERTRUCK BLAST

    Here’s where things get interesting… 

    At an earlier press conference in New Orleans: 

    • FBI: NO ‘DEFINITIVE LINK’ BETWEEN ATTACK IN NOLA AND LAS VEGAS

    Now: 

    • LAS VEGAS POLICE: ‘VERY STRANGE SIMILARITIES‘ WITH NOLA CASE

    It’s always after the fact, but a CNN report stated the Department of Homeland Security warned about ‘lone wolf’ attacks last month.

    “Lone offenders have historically used simple tactics, such as edged weapons, firearms, or vehicle ramming, due to their ease of access, ability to inflict mass casualties, and lack of required training,” the DHS bulletin read.

    According to a federal source close to the counter-terrorism community, another intelligence briefing released last summer indicated that pre-trained al-Qaeda terrorists had entered the US through the Biden-Harris administration’s open southern border.

    In a recent discussion on the Shawn Ryan Show, former CIA targeting officer Sarah Adams warned of a potentially devastating attack planned by Al-Qaeda terrorists on American soil.

    Investigations into the Cybertruck bomber and New Orleans terrorist are only just beginning. More details are coming… 

    *   *   *

    Update (1407ET): 

    Deputy Assistant Director Christopher Raia of the FBI Counterterrorism Division told reporters on Thursday afternoon that the New Orleans massacre “was an act of terrorism” (14 dead, dozens injured) and stated, “My goal is to be as forthcoming as possible with you about what we’ve uncovered so far.”

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    Remember, hours after the terror incident on Bourbon Street, the FBI lied to the American people: “This was not a terrorist event.” 

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    Sigh, FBI! Public trust continues to crumble. 

    Also, the FBI announced a complete reversal from a statement on Wednseday, in which Assistant Special Agent in Charge Alethea Duncan said, “We do not believe that Jabbar was solely responsible. We are aggressively running down every lead, including those of his known associates.”

    Once again, given the FBI’s ongoing trust issues, the public remains uncertain about what to believe.

    Back to Raia’s press conference, he said there had not been a “definitive link” between the Bourbon Street attack and the Tesla Cybertruck explosion at Trump’s hotel in Las Vegas. 

    “As you know, there’s also an FBI investigation in Las Vegas. We are following up on all potential leads and not ruling everything out. However, at this point, there is no definitive link between the attack here in New Orleans and the one in Las Vegas. And again, I’ll preface as I close, I’ll preface everything with what I started with in the beginning, which was this is very early in an investigation like this,” Raia told reporters. 

    New Orleans Mayor LaToya Cantrell said Bourbon Street will reopen this afternoon ahead of the Sugar Bowl game this evening. 

    Meanwhile, Louisiana Gov. Jeff Landry said the Bourbon Street massacre can happen anywhere, and “you have to crush” evil to protect America. 

    Under the Biden-Harris regime, the Feds facilitated the greatest migrant invasion this nation has ever seen by opening the floodgates on the southern border to millions of illegal aliens, some of which were pre-trained terrorists. In other words, our own government willfully compromised national security through globalist border policies.

    Raia also said Shamsud-Din Jabbar, the Bourbon Street terrorist, was “100% inspired by ISIS…” 

    “So what I can tell you right now is that he was 100% inspired by ISIS. And so we’re digging — we’re digging through more of the social media, more interviews, working with some of our other partners to-to ascertain just how to ascertain a little bit more about that connection,” he noted. 

    However, we must note that Jabbar and Matthew Livelsberger’s (Cybertruck suicide bomber) were both US Army veterans. 

    From a ramming attack on Bourbon Street to a VBIED-like explosion at Trump’s hotel in Las Vegas, occurring on the same day just hours apart, it seems suspicious and raises concerns that there might be more incidents to come.

    *   *   *

    Welcome to the second day of 2025.

    Federal authorities and investigative teams are probing a potential military connection between a US Army veteran who displayed an Islamic State (IS) flag and was described as “hellbent” on causing maximum damage by steering a Ford F-150 Lightning (EV) into a crowd on Bourbon Street, killing at least 15 people and injuring dozens, and another US Army veteran who drove an explosives-filled Tesla Cybertruck that detonated almost like a VBIED outside Trump’s Las Vegas hotel just hours after the Bourbon Street massacre.

    Two law enforcement sources familiar with the New Orleans truck-terror-ramming attack and the Las Vegas incident told NBC News that federal investigative teams are probing a potential military connection between the two individuals involved in both attacks.

    New Orleans terror suspect Shamsud-Din Jabbar, 42, who died in a subsequent close-range firefight with police after the ramming attack, was a US national and Texas resident. He worked in the US Army’s human resources and information technology departments between 2006 and 2020, including a deployment to Afghanistan in 2009. 

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    The suspect in the Cybertruck explosion at Trump’s hotel in Las Vegas has been identified as “Matthew Livelsberger,” according to Newsweek. 

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    Denver-based station ABC7 reported that Livelsberger once served at the same base as Shamsud-Din Jabbar. However, no evidence yet confirms whether they had direct links of any sort. 

    However, both vehicles used in New Orleans and Las Vegas were rented from San Francisco-based Turo.

    Turo wrote in a statement, “We do not believe that either renter had a criminal background that would have identified them as a security threat, and we are not currently aware of any information that indicates the two incidents are related.”

    Louisiana Attorney General Liz Murrill told NBC earlier that investigators believe multiple people were involved in the Bourbon Street massacre. She said authorities believe explosive devices were made in an Airbnb rental in the New Orleans metro area.

    “We know that these individuals had rented the house were using it for that purpose,” Murrill said.

    Murrill also said she wanted to postpone the Sugar Bowl at the Caesars Superdome in New Orleans for another day. The football game is currently scheduled for tonight after it was postponed following the attack.

    Murrill noted that “the community is safe” because of the increased law enforcement presence in the city. However, the delay of the Sugar Bowl may only suggest that something larger is unfolding. 

    Here we go. 

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    In a recent discussion on the Shawn Ryan Show, former CIA targeting officer Sarah Adams warned of a potentially devastating attack planned by Al-Qaeda terrorists on American soil.

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    Finally, with just a few days left until Trump is inaugurated, we can’t help but wonder at the timing of this sudden chaos.

    Tyler Durden
    Thu, 01/02/2025 – 18:49

  • New Florida Bill Would Prohibit Illegal Immigrants From Filing Lawsuits
    New Florida Bill Would Prohibit Illegal Immigrants From Filing Lawsuits

    Authored by T.J.Muscaro via The Epoch Times,

    A new bill introduced to Florida’s state legislature intends to prohibit illegal immigrants from being able to utilize the civil court system to file lawsuits and other legal actions.

     

    Titled HB 71: Civil Actions Brought by Unauthorized Aliens, the single-page bill stated, “an unauthorized alien may not commence a civil action,” using the definition of “unauthorized aliens” as stated in the federal Immigration and Nationality Act.

    It was filed in Florida’s State House of Representatives by Rep. Joel Rudman on Dec. 27, arguing that someone who enters the country illegally has no legal standing to file lawsuits, be it for a slip and fall or malpractice.

    “If you are in Florida illegally, then you should not have access to our courts,” he said on X.

    ”You have no legal standing to sue anyone here, since you were not even supposed to be here. American citizens and legal immigrants have had enough.”

    The Republican argued in a press release that the justice system was  already “drowning under a sea of frivolous lawsuits,” and Americans could not afford illegal immigrants the chance to “use our courts as their free lottery ticket.”

    This bill is only limited to civil court, meaning they would retain their rights if a crime were committed against them.

    There is no companion bill in the state Senate at the time of this article’s publication.

    Rudman stepped down from his seat in Tallahassee on Jan. 1 to take his shot at running in Florida’s First Congressional District’s special election to replace former Rep. Matt Gaetz in Washington, D.C. He will be going up against several candidates, including Florida’s Chief Financial Officer, Jimmy Patronis, who has already secured President-elect Donald Trump’s endorsement.

    However, Republicans hold a supermajority in both the Florida legislature, which suggests the bill like this will easily reach Gov. Ron DeSantis’s desk, considering the GOP’s stance on illegal immigration.

    The Epoch Times has reached out to Florida’s Democratic Party for comment on this bill.

    Rudman also mentioned in his press release that he was the husband of a legal immigrant and said his state welcomes immigrants who come legally through proper channels.

    If passed, the bill will go into effect July 1.

    The Florida House of Representatives has yet to release its schedule for January as of this article’s publication.

    According to the Florida Senate’s website, all requests for general bill drafts, as well as companion bills, must be submitted by 5 p.m. ET on Jan. 25.

    Tyler Durden
    Thu, 01/02/2025 – 18:25

  • Tractor-Trailer Bomb Threat Shuts Down I-85 In South Carolina
    Tractor-Trailer Bomb Threat Shuts Down I-85 In South Carolina

    Live Feed: 

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    Concerns over terrorism are intensifying in the wake of the Bourbon Street massacre and the Las Vegas Cybertruck bombing. Adding to the anxiety, police are now investigating a potential bomb in a tractor-trailer on a major highway in South Carolina. 

    Local media WSPA reports all lanes of Interstate 85 are blocked in both directions between exits 42 and 44 near White Horse Road in Greenville County. 

    South Carolina Law Enforcement Division confirmed to WSPA that bomb squad personnel are responding to a potential bomb inside a tractor-trailer. Details are limited.

    “Situation unfolding in Greenville Co South Carolina that’s closed I-85 | Sources tell me it involves an 18-wheeler. Driver apparently pulled over and stated he has a bomb. Multiple agency incident,” WXIA’s Cody Alcorn wrote on X. 

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    South Carolina Gov. Henry McMaster wrote on X:

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    Traffic nightmare. 

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    *Developing… 

    Tyler Durden
    Thu, 01/02/2025 – 18:19

  • From RWA Boom To Bitcoin Yields: Top Crypto Trends To Watch In 2025
    From RWA Boom To Bitcoin Yields: Top Crypto Trends To Watch In 2025

    Authored by Ana Paula Pereira via CoinTelegraph.com,

    The year 2024 will be remembered as a landmark chapter in crypto history. From surging mainstream demand for Bitcoin-regulated financial products to an expected crypto-friendly White House, the Web3 industry has made significant strides despite facing notable challenges along the way.

    With its resilience finally paying off, the industry is now setting its sights on another promising year as hopes for regulatory clarity converge with years of innovation and development.

    Experts are closely watching emerging trends poised to not only redefine the crypto landscape but also affect the world as a whole. To explore what lies ahead, Cointelegraph has compiled a list of key crypto trends expected to take center stage in the months to come.

    RWAs: The use case to watch in 2025

    If you have never heard about it, make a note of this word: tokenization. It refers to the art of turning traditional assets into tokens, making them tradable, even in small fractions. 

    Developers, investors and companies from a range of industries were enraptured by the tokenization of real-world assets (RWAs) fever in 2024, as it unlocks liquidity for traditionally nonliquid assets, such as real estate, and allows people around the world to access investments not always accessible to small investors. 

    “RWAs are the use case to watch in 2025. The value of tokenized assets will double in the year,” predicts Sergey Gorbunov, CEO of Interop Labs and co-founder of Axelar Network. 

    Gorbunov’s view is followed by venture capital firm a16z. In its annual report on trends in the crypto and blockchain industry, the VC said that “tokenizing unconventional assets could redefine income generation in the digital age.”

    According to data from RWA.xyz, the total value of tokenized assets now stands at nearly $13.9 billion, a 67% jump from $8.3 billion in January.

    Real-world assets onchain are now worth over $13.8 billion. Source: RWA.xyz

    Financial institutions are now looking at risk frameworks for tokenized assets. In other words, they want to ensure compliance with legal requirements, security risks and market volatility issues are addressed. According to Gurbunov:

    “Multiple major financial institutions will develop the risk frameworks needed to issue RWAs that can move across interconnected, public blockchains.”

    ID checks by AI agents

    Several protocols have been working on ways to provide ID verification onchain over the past few years. 

    One of the advancements in this field is undoubtedly the emergence of zero-knowledge (ZK) proofs, a technology that allows a human to prove themselves without revealing any personal information. Startups developing this technology include Worldcoin, ONCHAINID and RisedID, to name a few. 

    Moving forward, onchain biometric verification is expected to be increasingly powered by artificial intelligence. In other words, you will be checked for your identity autonomously onchain by an AI. This may sound like something out of a sci-fi movie, but it’s just an example of AI and blockchain coming together.

    “We expect to see automated biometrics and/or government ID checks become the norm, not the exception,” said Civic CEO Chris Hart. He continued: 

    “As AI agents increasingly act on behalf of users, robust identity verification and authorization frameworks will be crucial for controlling what these agents can do and for how long — especially in financial transactions.”

    DePINs to take off

    Community-driven energy services, online storage and internet connectivity are already a reality through decentralized physical infrastructure networks, or DePINs. 

    DePINs allow users to become stakeholders in the network, meaning they can own a piece of the infrastructure they use, thus creating new opportunities for financial inclusion.

    Borderless Capital, a venture firm pouring millions of dollars into DePIN protocols, claims the sector holds “the most compelling opportunity” in Web3.

    “It is the only Web3 vertical generating revenue and fundamentals with zero correlation to the crypto market, delivering real-world value,” Álvaro Gracia, partner at Borderless, told Cointelegraph.

    According to data aggregated by DePIN.Ninja, the market capitalization of DePIN protocols has exceeded $50 billion.

    More yields from Bitcoin

    Finally, it is impossible to discuss 2025 without mentioning Bitcoin. Once a discredited asset, Bitcoin has made significant strides over the past decade, earning adoption within Wall Street and solidifying its position in the financial landscape.

    While developers still struggle with possible upgrades to a network that now has more stakeholders than ever before, startups are exploring alternative ways to unlock yield generation for holders.

    “This is the natural need for holders, including the retail and institution. This is the native demand for holders,” said Kevin He of Bitlayer, a Bitcoin layer-2 protocol backed by asset manager firm Franklin Templeton.

    According to He, not only investors but also large holders of BTC, such as MicroStrategy, are looking for additional sources of revenue through the fusion of Bitcoin and decentralized finance. 

    According to He, Bitcoiners could soon generate annual returns of up to 40% on their holdings.

    Tyler Durden
    Thu, 01/02/2025 – 17:40

  • Palestinian Authority Bans Al Jazeera From West Bank For 'Stirring Strife'
    Palestinian Authority Bans Al Jazeera From West Bank For ‘Stirring Strife’

    The Palestinian Authority (PA) announced Wednesday the suspension of Al-Jazeera’s operations in the Palestinian West Bank, citing alleged violations of Palestinian laws and ‘interference’. 

    The major Qatar-based outlet is accused of “manipulation, interference in internal affairs, and dissemination of misleading and incendiary reports,” according to a statement in the official Palestinian news agency WAFA.

    Al Jazeera headquarters building in Doha, Qatar. Source: AJ

    The broadcaster has been further blamed for “reports that were deceiving and stirring strife” in the context of the Palestinian Authority’s (PA) effort to crackdown on unauthorized armed groups.

    For the past more than two weeks the PA has laid police siege to the Jenin refugee camp in an effort to root out the Jenin Brigade and associated factions. The PA has called the groups “outlaws” and “Iranian gangs” which are operating in the camp.

    At least nine Palestinians have been killed as a result of the assault, including reportedly children. The PA had already banned Al Jazeera from reporting from inside Jenin amid the crisis.

    Al Jazeera issued a Thursday statement saying it was “shocked by this decision” and is urging an immediate reversal of the temporary ban, for which there hasn’t been a timetable. It has confirmed its coverage has moved to Jordan.

    The outlet has charged the PA with “an attempt to hide the truth about events in the occupied territories, especially what is happening in Jenin and its camps.”

    Months ago Israeli commandoes raided Al Jazeera’s West Bank offices and seized equipment and ordered the bureau closed.

    As early as October 2023, soon after the Oct.7 Hamas terror attacks, Israel moved to ban Al Jazeera from having offices in Tel Aviv or operating anywhere in Israel.

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

    This came on the heels of Israeli government approving “emergency regulations” giving it the power to shut down foreign news agencies which are deemed to be acting against the “security of the state”. 

    On Thursday a United Nations spokesperson urged the Palestinian Authority to reverse its decision to ban Al-Jazeera, in a rare moment.

    Tyler Durden
    Thu, 01/02/2025 – 17:20

  • Pentagon Reassesses Osprey's Future Amid Crashes And Operational Failures
    Pentagon Reassesses Osprey’s Future Amid Crashes And Operational Failures

    Authored by Mike Fredenburg via The Epoch Times,

    The  Marines, and now the Air Force and Navy, have cleared their Osprey fleets to fly after all U.S.-operated Ospreys were grounded earlier this month. Clearing the Ospreys involves implementing “risk mitigation controls,” part of which includes a more rigorous inspection regime and careful monitoring of hours flown.

    However, while the Ospreys are once again flying, the airplane’s root problem driving these groundings has not been addressed. And the most recent groundings have once again thrust the Osprey’s long history of problems and crashes into the spotlight, with the most recent crash killing eight marines occurring in November of 2023.

    As was the case with earlier groundings, the most recent grounding appears to be related to key parts of its complex tiltrotor transmissions not being able to stand up the stresses placed on them and growing weaker at a much faster rate than expected. As this issue affects all Ospreys, the Pentagon grounded all the planes on Dec. 9.

    That the Osprey is so problem-plagued 43 years after Bell and Boeing began joint development of it begs several questions. The first is, with well over $10 billion expended on research, development, and testing, and the first test flight taking place way back in 1989, why does the Osprey continue to be so beset with issues, incidents, groundings, and crashes? And the second is, why taxpayers paid tens of billions to acquire V-22s that are unreliable, unsafe, and have arguably delivered less capability than the helicopters and airplanes they are supposedly replacing? The final question is whether it’s time to consider the V-22’s future from a sunk cost basis, and move away from using V-22s and back towards using more capable helicopters and fixed-wing aircraft.

    Perhaps a tiltrotor could be designed that is reliable and safe, but after decades of accidents and mechanical failures it should be obvious that the V-22 design is critically flawed and unreliable. Consequently, perhaps, just perhaps, it is time to consider that their adoption has resulted in a net loss of capability, and look at limiting their use only to the small subset of missions and tasks that truly can only be performed by them.

    Elaborating, the attraction of the Osprey is that it can perform the duties of both helicopters and fixed-wing aircraft. This mindset creates the temptation to look for opportunities to replace helicopters with Ospreys in the belief that not only do you get the benefits of a helicopter,  but you get the range and speed of an airplane. Likewise, by replacing fixed-wing aircraft with Ospreys, you not only get an airplane, but you get the capabilities of a helicopter.

    This certainly sounds like a big win. But even if the Osprey was safe and reliable, and did not cost so much to operate, the fact is that a tiltrotor aircraft is a lousy helicopter, and is at best a mediocre airplane.

    Why Does the Osprey Make Such a Poor Helicopter?

    Firstly, while the Osprey is a tiltrotor aircraft that can ascend and descend vertically, the fact that the vicious downwash  generated by its proprotors is much more concentrated and intense than the downwash generated by a helicopter’s rotor(s) makes it inferior to a helicopter when it comes to executing a wide variety of tasks and missions.

    Perhaps the biggest weakness relative to a helicopter is that an Osprey’s intense proprotor wash and hot exhaust strikes the ground with much greater force, throwing up rocks, sand, soil, and in some cases even helipads. This is not only a danger to anyone nearby, but the thrown-up ground materials can potentially be ingested by the engine, damaging it and causing it to fail. The obscuring cloud created by an Osprey can be so intense that the pilot cannot safely land due to lack of visibility.

    The intense downwash also means that missions that require hovering, such as air-sea rescues and fast insertions involving troops repelling to the ground, and moving cargo by slings or nets, must be executed from a higher hover height. This, combined with the intensity of the proprotor downwash, makes  Ospreys inferior to helicopters for such missions.

    Additionally, hover time for Ospreys enveloped in the obscuring cloud is limited to 60 seconds or less. And due to heat issues, its hover time in general is far less than that of a helicopter.

    Further, the Osprey’s intense propwash and engine exhaust damages ship decks perfectly suited to handle helicopters. Consequently, costly deck modifications have had to be made and/or will have to be made to our amphibious warships, which were designed to support helicopters. This is just another example of a helicopter’s vastly superior landing zone flexibility.

    Finally, when an Osprey loses power, unlike a helicopter it cannot safely autorotate and its gliding ability is much inferior to that of a fixed-wing airplane. So in general, when loss of power occurs, its passengers and crew are less likely to survive, which is why the Osprey has earned the name “widow maker.”

    Why the Osprey Is a Mediocre Airplane

    The main reason that the Osprey will always at best be a mediocre airplane is that along with being more complex and less reliable, its proprotors are much less efficient than standard propellers. This lack of efficiency translates into burning more fuel and a lower top speed compared to comparably sized turboprops with standard-sized propellers.

    All of the above does not negate that there are some missions for which a reliable and safe tiltrotor  aircraft would be the best option. But given the V-22’s  history and its $80,000 cost per flying hour,  the services using V-22s need to take a hard look at their decision to replace reliable, more cost-effective, and arguably more capable helicopters and fixed-wing aircraft with the Ospreys

    Given the V-22’s ongoing unresolved problems and their high operational costs, the Pentagon should consider the V-22 a sunk cost and only use Ospreys for the very limited sets of  tasks and missions that can truly only be executed by the V-22. All other tasks and missions should be migrated over time to the helicopters and fixed-wing aircraft best suited to fulfill them.

    Finally, a very hard look should be taken of the Army’s plans to move away from helicopters to a brand-new unproven tiltrotor, the V-280 Valor.

    *  *  *

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Thu, 01/02/2025 – 17:00

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Jan 02

Today’s News 2nd January 2025

  • Escobar: 2025 – A Second Renaissance, Or Chaos?
    Escobar: 2025 – A Second Renaissance, Or Chaos?

    Authored by Pepe Escobar,

    It’s a dazzling Tuscan winter morning, and I am inside the legendary Dominican church of Santa Maria Novella, founded in the early 13th century and finally consecrated in 1420, in a very special place in History of Art: right in front of one of the monochrome frescos painted in 1447-1448 by master of perspective Paolo Uccello, depicting the Universal Deluge.

    Paolo Uccello: Universal Deluge. 1448 fresco at Santa Maria Novella, Florence. Photo by Pepe Escobar

    It’s as if Paolo Uccello was depicting us – in our current times of trouble. So inspired by neoplatonic superstar Marsilio Ficino – immortalized in a chic red robe by Ghirlandaio at the Cappella Tornabuoni – I tried to pull off a back to the future and ideally imagine who and what Paolo Uccello would feature in his depiction of our current deluge.

    Let’s start with the positives. 2024 was the Year of the BRICS – with the merit for all the accomplishments going for the tireless work of the Russian presidency.

    2024 was also the Year of the Axis of Resistance – until the serial blows suffered during the past few months, a serious challenge which will propel its rejuvenation.

    And 2024 was the year that defined the lineaments of the endgame in the proxy war in Ukraine: what remains to be seen is how deep the “rules-based international order” will be buried in the black soil of Novorossiya.

    Now let’s turn to the auspicious prospects ahead. 2025 will be the year of consolidation of China as the paramount geoeconomics force on the planet.

    It will be the year where the defining battle of the 21st century – Eurasia v. NATOstan – will be sharpened in an array of unpredictable vectors.

    And it will be the year of advancing, interlocking connectivity corridors – the defining factor in Eurasia integration.

    Not by accident Iran is central to this interlocking connectivity – from the Strait of Hormuz (through which transits, daily, at least 23% of the world’s oil) to the port of Chabahar, which links West Asia with South Asia.

    Connectivity corridors to watch are the return of one of the top Pipelineistan sagas, the 1,800 km-long Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline; the International North South Transportation Corridor (INSTC), which links three BRICS (Russia-Iran-India) and several aspiring BRICS partners; the China-Pakistan Economic Corridor (CPEC), the flagship Belt and Road Initiative (BRI) project; and last but not least, the fast advancing Northern Sea Route (or Northern Silk Road, as the Chinese call it), which will eventually become the cheapest and fastest alternative to the Suez canal.

    A few days before the start of Trump 2.0 in Washington, Russia and Iran will finally, officially sign a comprehensive strategic partnership deal in Moscow, over two years in the making: once again, a key deal between two top BRICS, with immense, cascading repercussions in Eurasia integration terms.

    A completely sealed channel of negotiation

    Dmitri Trenin, respected member of Russia’s Foreign and Defense Policy Council, has what is so far the most realist road map for an acceptable end of the proxy war in Ukraine.

    “Acceptable” does not even begin to describe it – because from the point of view of the collective West political “elites” which bet the farm and the bank on this war, nothing is acceptable except Russia’s strategic defeat, which will never happen.

    As it stands, President Putin is in fact containing elite sectors in Moscow who favor not only cutting off the head of the snake but the body as well.

    Trump for his part has less than zero incentive to be dragged into a further quagmire; leave that to the clueless European chihuahuas.

    So a possible drive towards a wobbly “peace” agreement also suits the Global Majority – not to mention China, which understands how war is bad for business (at least if you’re not in the weaponizing racket).

    When it comes to an always possible “existential” escalation, we’re not out of the woods yet; but there are still three weeks left for some major terror-fueled coup, as in a false flag.

    The first two months of 2025 will be absolutely decisive, when it comes to sketching a possible compromise.

    Elena Panina from RUSSTRAT has offered a concise, and sobering, strategic assessment of what may pan out.

    What Trump essentially craves, like a trashy McDonald’s burger, is to look like the ultimate Alpha Male. So Putin’s tactical negotiating strategy will not be focused on undermining Trump’s tough guy act. The problem is how to pull it off without undermining Trump’s pop star power – and without adding more fuel to the NATOstan warmongering pyre.

    Putin holds an array of trump cards close to his chest – related to Europe, the Brits, China, Ukraine itself and the Global South as a whole.

    Determining spheres of influence will be part of a possible agreement. The thing is no specific details should be leaked – and must be kept impermeable to Western intel.

    That means, as Panina notes, Trump needing a completely sealed channel of negotiation with Putin, which even the MI6 cannot crack.

    A tall order, as privileged Zio-con silos across the Deep State are dizzy with the latest Old Testament psycho-pathological victories in Lebanon and Syria, and the way they enfeebled Tehran. Yet that does not mean the Iran-Russia-China-BRICS link is in jeopardy.

    The dynamics are set; tread carefully

    Putin and the Security Council should be ready to implement a quite complex, step-by-step diplomatic game, as they know that the trifecta of defeated, supremely angry Democrats, Brits and Bankova will apply maximum pressure on Trump and turn him into “an enemy of America” or some similar crap.

    Moscow will accept no truce and no freeze: only a real solution.

    It that doesn’t work, the war will continue in the battlefield, and Moscow has no problems with that – or with more escalation. The final humiliation of the Empire of Chaos will then be total.

    Meanwhile, Cold War 2.0 between China and the U.S. will advance more on the pop sphere than in substance. The sharpest Chinese analysts know that the real competition is not over ideology – as in the original Cold War – but over technology, from AI to upgrading seamless supply chains.

    Moreover, Trump 2.0, at least in principle, has less than zero interest in unleashing a proxy war – Ukraine-style – on China in Taiwan and the South China Sea. China has way more geoeconomic resources than Russia.

    So it’s not exactly intriguing that Trump is floating the idea of a G2 between the U.S. and China. The Deep State blob will see it as the ultimate plague – and fight it to death. What’s already certain is assuming this goes ahead, the European poodles will be left drowning in a dirty swamp.

    Well, political “elites” that appoint braindead specimens like the Medusa von der Lying and the batshit crazy Estonian chick as top representatives of the EU; who start a war against their most important energy supplier; who fully support a genocide broadcast 24/7 to the whole planet; who are obsessed on eradicating the culture which has defined them; and who at best pay only lip service to democracy and freedom of speech, these “elites” do deserve to wallow in filth.

    On the Syrian tragedy, the fact is Putin knows who the real enemy is; certainly not a bunch of Salafi-jihadi head-chopping mercenaries. And the Sultan in Ankara is also not the enemy; from Moscow’s perspective, for all his lofty dreams of replacing “Central Asia” with “Turkestan” in Turkiye’s school textbooks, he is a minor geoeconomic and even geopolitical player.

    To paraphrase the inestimable Michael Hudson – perhaps our Marsilio Ficino dressed by Paolo Uccello as a writer in a chic red robe – it’s as if in this pre-deluge juncture American elites were saying, “The only solution is total war with Russia and China”; Russia is saying, “We hope there’s peace in Ukraine and West Asia”; and China is saying, “We want peace, not war.

    That may not be enough for reaching a compromise – any compromise. So the dynamics are set: the U.S. ruling class will keep imposing instances of chaos while Russia, China and BRICS will keep testing in the “BRICS lab” de-dollarization models, alternative set ups to the IMF and World Bank, and eventually even an alternative to NATO.

    An anarchy and War of Terror cornucopia on one side; cool-headed, coordinated realism on the other. Be prepared – for anything. From Renaissance Florence, one of the – few – peaks of humanity, now living in memory, tread carefully across this flame-filled 2025.

    Tyler Durden
    Wed, 01/01/2025 – 23:20

  • A U.S. Marine And An American Hero
    A U.S. Marine And An American Hero

    Authored by Breck Henderson via RealClearDefense,

    When I woke up on the morning of November 6, I felt that America had changed.  A new spirit was suddenly alive.  The day before I had been afraid my country would be forced to endure more years of living out the lies of “wokeism,” the ideology of the radical Left and the current government.  What’s bad about that?  The best and most concise description of wokeness I’ve found comes from professor of philosophy Edward Fesser who wrote:

    Wokeness is] a paranoid delusional hyper-egalitarian mindset that seems to see oppression and injustice where they do not exist or greatly exaggerate them where they do exist.

    In general, wokeness . . . is essentially about the radical subversion of normal human life in the name of a paranoid metaphysical delusion. It is fueled by a seething envy and resentment directed against the natural order of things.

    The repercussions of trying to live out a “paranoid delusion” are widespread.  For those who resist the delusions, it can mean alienation from family and friends or the destruction of one’s professional life.  Basically, becoming a victim of cancel culture.  A woke oligarchy in charge of American institutions brings a multitude of threats — from having gender dysphoric children taken away from parents to the destruction of our military’s morale and readiness.           

    But maintaining a paranoid delusion is strenuous.  It requires a great deal of mental energy, and as a nation I sense that we are exhausted from the effort.  Among the delusions have been that human gender is fluid and multifaceted, that we must adopt BLM’s racist ideology, that America is incurably racist, that Diversity Equity and Inclusion (DEI) is the solution to American racism, that masculinity is somehow toxic, and much more.  When something simply can’t go on any longer, it ends, and I’m beginning to sense that wokeism can’t go on.

    The decisiveness of Trump’s victory signaled a huge shift in American politics, a mass retreat from wokeism, and I believe a big factor in that shift was plain old exhaustion with the lies and delusions foisted upon us by the radical, woke Left. 

    When such a seismic shift occurs, it reverberates throughout America and then throughout the world.  It means it’s safe to acknowledge the truth again, and that goes right down to the local level.

    There is not a clearer example of this than Daniel Penny’s recent acquittal on manslaughter charges by a New York jury.  After living through a period during which courage has been defined as going public with one’s homosexuality or gender dysphoria, real courage has been vindicated in a very public way.

    The nature of the event that landed Penny in court was absolutely clear.  A courageous young man, a former U.S. Marine, protected people in a New York subway car from a dangerous, threatening psychotic.  Penny had no intention of killing that man — Jordan Neely — he only wanted to prevent him from carrying out the threats he was making. 

    Penny should never have been indicted.  Had this happened in Texas, or most other places outside of New York, no Grand Jury would have returned an indictment.  Had Neely been white, no indictment would have been brought.  Only in the supercharged racial atmosphere evoked by the paranoid delusions of BLM politics could such a charge have gained traction.  If you haven’t done so, I urge you to watch the interview with Penny streaming now on Fox Nation here.

    Penny recounts that Neely barged into the subway car and immediately began demanding things, then threatening to kill people, saying he was going to jail for life. Penny said that, in the subway car, there was a mother with a child in her arms, young school children, and others, and they were all scared.  He was scared as well.

    Penny said he removed his ear buds and handed them along with his cell phone to someone sitting next to him and then grabbed Neely, pulling the man down to the floor on top of himself.  They struggled there for several minutes.  Penny said Neely was extremely strong and had amazing endurance.

    Penny suspected Neely had been using a drug called K2.  According to information from American Addiction Centers, K2 is a synthetic cannabinoid, 660 times more potent than marijuana.  It is strongly associated with psychosis, agitation and irritability, and can lead to seizures, convulsions, stroke, elevated blood pressure, heart rhythm abnormalities, kidney failure, heart attack, and sometimes death.  The autopsy showed that Penny was correct, K2 was in his system and likely caused his death.

    Daniel Penny is a talented, thoughtful, courageous, and highly moral young man.  He became a U.S. Marine because he wanted to serve his country, and he credits this decision for bringing out the best in himself.  He said: “I became who I am in the Marine Corps.  I met amazing people who brought out who I truly am.  “There’s this image of a Marine as a stone-faced jarhead, but you have to have compassion to be a competent Marine,” he said.

    I asked retired Marine Corps Major General Bob Hollingsworth if he would expect every Marine to act the way Daniel Penny did: “Marines are taught to analyze a situation and if there is danger to take action.  I pray that every Marine would do that.”

    Penny’s platoon sergeant testified at his trial, saying that all Marines are taught to uphold the Marine Corps values of “honor, courage and commitment.”  “If you don’t uphold those values, you don’t get promoted,” he said.  Penny was promoted to Sergeant (pay grade E-5) during his four-year service.

    General Hollingsworth mentioned that he was also proud back in 2015 of U.S. Air Force Airman First Class Spencer Stone, Oregon National Guard Specialist Alek Skarlatos and college senior Anthony Sadler, all friends from childhood, who subdued a radical Islamic terrorist on a train in France.  Read about it here.

    The three were on leave and taking a high-speed train from Amsterdam to Paris when they saw a man get on the train with an AK-47 and a handgun.  They immediately rushed to tackle him, disarmed him and prevented what could easily have been a massacre had they not acted.  Airman Stone was seriously injured by the terrorist who wielded a box cutter during the struggle.  In this case, the three plus a British man who assisted them, were hailed as heroes and congratulated by President Obama and European leaders.       

    Neither New York nor the mainstream media were so discerning or kind to Daniel Penny.  Since leaving the Marine Corps he has been studying to become an architect.  He has always lived in or near New York City and he said the buildings and skyline have inspired him to study architecture as a career.  What a tragedy it would have been had this young man been convicted and his life destroyed by a lie. 

    Penny said when asked why he chose to physically subdue Neely: 

    If I didn’t do something the guilt I would have felt if someone did get hurt, if he did what he was threatening to do — I would never be able to live with myself — and I’ll take a million court appearances, people calling me names, people hating me, just to keep one of those people from getting hurt or killed.

    General Hollingsworth praised that sentiment. “Daniel Penny has my respect,” he said.

    The facts surrounding Penny’s actions were obvious to any clear thinking American citizen from the start, but BLM delusions have been so vigorously enforced since the summer of 2020’s George Floyd riots, that the Manhattan jury apparently had a tough time reaching its verdict.  I don’t believe those jurors could have felt empowered to act on the truth had President Trump not won a decisive victory on November 5.

    In the end, Daniel Penny is an American hero — a man who could not sit by and let a psychotic man hurt others when it was within his power to prevent it.  The prosecutors denigrated his military training and experience.  In a rational society people should admire and encourage willingness to train and become a “compassionate warrior” — the world would be a far better place if every young man aspired to and trained for that ethic.

    Is Penny bitter because his good deed resulted in his life being disrupted for more than a year, and weeks in court with the threat of being sent to prison?  Not at all.

    People who were in the [subway] car remained on the platform and were thanking me.  Throughout the whole trial, I only cared about what those witnesses said.  I love America and that people have a right to protest, but they [protestors] didn’t have any of the facts.  They weren’t there.  The witnesses were there and they thanked me.  It’s disheartening that the prosecutor tried to discredit my military service and my awards.  I gave up four years of my life for no other reason than to serve my country.  It’s frustrating that there are people like this in our government, who do this [indict him for a good deed] who are supposed to be protecting people and our rights.

    Penny said he doesn’t want praise or fame.  “Friends and everyone I’ve met have been supportive of me.  It’s been very humbling and I’m grateful for that.  Throughout the whole process I had faith in the system and my team and in God.”

    I’m reminded of the famous poem “If” by Rudyard Kipling.  The first verse:

    If you can keep your head when all about you
    Are losing theirs and blaming it on you,
    If you can trust yourself when all men doubt you,
    But make allowance for their doubting too;
    If you can wait and not be tired by waiting,
    Or being lied about, don’t deal in lies,
    Or being hated, don’t give way to hating,
    And yet don’t look too good, nor talk too wise;

    Daniel Penny kept his head during a tense situation.  He trusted in himself and in God when it seemed everyone was against him.  He was patient, he told the truth, and he did not return the hate of those who hated him.  And he refuses to consider himself a hero.  As Kipling says in the final lines of the poem: 

    Yours is the Earth and everything that’s in it,

    And — which is more — you’ll be a man, my son!

     Daniel Penny is a man in the best sense — we should all be proud of him.

    Breck Henderson is a retired Navy Reserve Officer, retired nuclear engineer for the Nuclear Regulatory Commission, and retired journalist for Aviation Week & Space Technology magazine.  He writes regularly on Substack, and crafts fiction in the form of short stories, plays and screenplays when he’s not enjoying being a grandfather to eight grandchildren.

    Tyler Durden
    Wed, 01/01/2025 – 22:40

  • Waste Of The Day: Highly Paid Boston Official Can't Afford Attorney
    Waste Of The Day: Highly Paid Boston Official Can’t Afford Attorney

    Authored by Jeremy Portnoy via RealClearInvestigations,

    Topline: When Boston City Councilor Tania Fernandes Anderson faces trial on public corruption charges, she’ll have the help of a public defender meant for those who can’t afford an attorney, the Boston Herald reported.

    Anderson made $103,500 in 2023, according to payroll records at OpenTheBooks.com.

    Key facts: Anderson allegedly organized a kickback scheme that netted her thousands of dollars of federal and city funds. The FBI arrested her in December, charged with wire fraud and theft. She has denied all wrongdoing.

    Despite her decent public salary, Anderson said she is unable to pay for her own lawyer. 

    ourt filings noted her “personal financial difficulty … which included missing monthly rent and car payments, an impending $5,000 civil liability from the Ethics Commission, and incurring bank overdraft fees, which resulted from Fernandes Anderson maintaining low daily bank balances,” according to the Boston Herald.

    Attorneys appointed by the Federal Defender Program earn $172 per hour in non-capital cases. 

    Search all federal, state and local government salaries and vendor spending with the AI search bot, Benjamin, at OpenTheBooks.com.

    Critical quote: “It’s more than ironic that a woman who said she cared about the struggles of her constituents of limited means is taking money from the public coffers — money that could otherwise be used to help the very people she claimed to care about,” said Wendy Murphy, an attorney and columnist at the Boston Herald. “With such a good salary she should have to at least contribute.”

    Background: While not all public defenders work with high-profile clients, many rake in huge profits from taxpayers. That’s on top of the often lucrative salaries they can earn in their private practice.

    Federal defenders working on capital cases earn up to $220 per hour.

    Hourly rates vary at the state level. Court-appointed attorneys in Maryland can legally earn up to $164 per hour, more than any other state, though the Maryland Public Defender Office told OpenTheBooks their budget only allows them to pay $75 per hour.

    In New York, some lawyers are earning up to $428,000 per year from taxpayers while still earning a salary from their private firm, according to Buffalo News.

    Summary: If Fernandes Anderson is guilty, she’s already taken enough from taxpayers without billing them for her legal fees.

    The #WasteOfTheDay is brought to you by the forensic auditors at OpenTheBooks.com

    Tyler Durden
    Wed, 01/01/2025 – 22:00

  • Read Between The Lies: A Pattern Recognition Guide
    Read Between The Lies: A Pattern Recognition Guide

    Authored by Josh Stylman via The Brownstone Institute,

    When Avril Haines, Director of National Intelligence, announced during Event 201’s pandemic drill in 2019 that they would “flood the zone with trusted sources,” few understood this preview of coordinated narrative control. Within months, we watched it unfold in real time—unified messaging across all platforms, suppression of dissent, and coordinated narrative control that fooled much of the world.

    But not everyone stayed fooled forever. Some saw through it immediately, questioning every aspect from day one. Others thought it was just incompetent government trying to protect us. Many initially accepted the precautionary principle—better safe than sorry. But as each policy failure pointed in the same direction—toward more control and less human agency—the pattern became impossible to ignore. Anyone not completely subsumed by the system eventually had to confront its true purpose: not protecting health or safety, but expanding control.

    Once you recognize this pattern of deception, two questions should immediately arise whenever major stories dominate headlines: “What are they lying about?” and “What are they distracting us from?” The pattern of coordinated deception becomes unmistakable. Consider how media outlets spent three years pushing Russiagate conspiracies, driving unprecedented social division while laying the groundwork for what would become the greatest psychological operation in history. Today, while the media floods us with Ukraine coverage, BlackRock positions itself to profit from both the destruction and reconstruction. The pattern becomes unmistakable once you see it—manufactured crises driving pre-planned “solutions” that always expand institutional control.

    Mainstream media operates on twin deceptions: misdirection and manipulation. The same anchors who sold us WMDs in Iraq, promoted “Russia collusion,” and insisted Hunter Biden’s laptop was “Russian disinformation” still occupy prime time slots. Just as we see with RFK, Jr.’s HHS nomination, the pattern is consistent: coordinated attacks replace substantive debate, identical talking points appear across networks, and legitimate questions are dismissed through character assassination rather than evidence. Being consistently wrong isn’t a bug—it’s a feature. Their role isn’t to inform but to manufacture consent.

    The template is consistent: Saturate media with emotional spectacles while advancing institutional agendas with minimal scrutiny. Like learning to spot a fake smile or hearing a false note in music, you develop an instinct for the timing:

    Money and Power:

    Medical Control:

    Digital Control:

    As these deceptions become more obvious, different forms of resistance emerge. The truth-seeking takes different forms. Some become deep experts in specific deceptions—documenting early treatment successes with repurposed drugs, uncovering hospital protocol failures, or exploring the impact of vaccine injuries. Others develop a broader lens for seeing how narratives themselves are engineered.

    Walter Kirn’s brilliant pattern recognition cuts to the heart of our manufactured reality. His tweets dissecting the United CEO murder coverage expose how even violent crimes are now packaged as entertainment spectacles, complete with character arcs and narrative twists. Kirn’s insight highlights a critical dimension of media control: by turning every crisis into an entertainment narrative, they divert attention from deeper questions. Instead of asking why institutional safeguards fail or who benefits, audiences become captivated by carefully scripted outrage. This deliberate distraction ensures that institutional agendas move forward without scrutiny.

    His insight reveals how entertainment packaging serves the broader control system. While each investigation requires its own expertise, this pattern of narrative manipulation connects to a larger grid of deception. As I’ve explored in “The Information Factory” and “Engineering Reality,” everything from education to medicine to currency itself has been captured by systems designed to shape not just our choices, but our very perception of reality.

    Most revealing is what they don’t cover. Notice how quickly stories disappear when they threaten institutional interests. Remember the Epstein client list? The Maui land grab? The mounting vaccine injuries? The silence speaks volumes. 

    Consider the recent whistleblower testimonies revealing suppressed safety concerns at Boeing, a company long entangled with regulatory agencies and government contracts. Two whistleblowers—both former employees who raised alarms about safety issues—died under suspicious circumstances. Coverage of their deaths disappeared almost overnight, despite the profound implications for public safety and corporate accountability. This pattern repeats in countless cases where accountability would disrupt entrenched power structures, leaving crucial questions unanswered and narratives tightly controlled.

    These decisions aren’t accidental—they result from media ownership, advertiser influence, and government pressure, ensuring the narrative remains tightly controlled.

    But perhaps most striking isn’t the media’s deception itself, but how thoroughly it shapes its consumers’ reality. Watch how confidently they repeat phrases clearly engineered in think tanks. Listen as they parrot talking points with religious conviction: “January 6th was worse than 9/11,” “Trust The Science™,” “Democracy is on the ballot” and, perhaps the most consequential lie in modern history, “Safe and Effective.”

    The professional-managerial class proves especially susceptible to this programming. Their expertise becomes a prison of status—the more they’ve invested in institutional approval, the more fervently they defend institutional narratives. Watch how quickly a doctor who questions vaccine safety loses his license, how swiftly a professor questioning gender ideology faces review, how rapidly a journalist stepping out of line gets blacklisted.

    The system ensures compliance through economic capture: your mortgage becomes your leash, your professional status your prison guard. The same lawyers who prides themselves on critical thinking will aggressively shut down any questioning of official narratives. The professor who teaches “questioning power structures” becomes apoplectic when students question pharmaceutical companies.

    The circular validation makes the programming nearly impenetrable:

    • Media cites “experts”
    • Experts cite peer-reviewed studies
    • Studies are funded by industry
    • Industry shapes media coverage
    • “Fact-checkers” cite media consensus
    • Academia enforces approved conclusions

    This self-reinforcing system forms a perfect closed loop:

    Each component validates the others while excluding outside information. Try finding the entry point for actual truth in this closed system. The professional class’s pride in their critical thinking becomes darkly ironic—they’ve simply outsourced their opinions to “authoritative sources.”

    Most disturbing is how willingly they’ve surrendered their sovereignty. Watch them defer:

    • “I follow the science” (translation: I wait for approved conclusions)
    • “According to experts” (translation: I don’t think for myself)
    • “Fact-checkers say” (translation: I let others determine truth)
    • “The consensus is” (translation: I align with power)

    Their empathy becomes a weapon used against them. Question lockdowns? You’re killing grandma. Doubt transition surgery for minors? You’re causing suicides. Resist equity initiatives? You’re perpetuating oppression. The programming works by making resistance feel like cruelty.

    Something remarkable is happening beneath the surface noise: a genuine awakening that defies traditional political boundaries. You see it in the subtle exchanges between colleagues when official narratives strain credibility. In the growing silence at dinner parties as propaganda talking points fall flat. In the knowing looks between strangers when public health theatre reaches new heights of absurdity.

    This isn’t a movement in the traditional sense—it can’t be, since traditional movement structures are vulnerable to infiltration, subversion, and capture. Instead, it’s more like a spontaneous emergence of pattern recognition. A distributed awakening without central leadership or formal organization. Those who see through the patterns recognize the mass formation for what it is, while its subjects project their own programming onto others, dismissing pattern recognition as “conspiracy theories,” “anti-science,” or other reflexive labels designed to prevent genuine examination.

    The hardest truth isn’t recognizing the programming—it’s confronting what it means for human consciousness and society itself. We’re watching real-time evidence that most human minds can be captured and redirected through sophisticated psychological operations. Their thoughts aren’t their own, yet they’d die defending what they’ve been programmed to believe.

    This isn’t just media criticism anymore—it’s an existential question about human consciousness and free will. What does it mean when a species’ capacity for independent thought can be so thoroughly hijacked? When natural empathy and moral instincts become weapons of control? When education and expertise actually decrease resistance to programming?

    The programming works because it hijacks core human drives:

    • The need for social acceptance (e.g., masking as a visible symbol of conformity)
    • The desire to be seen as good/moral (e.g., adopting performative stances on social issues without deeper understanding)
    • The instinct to trust authority (e.g., faith in public health officials despite repeated policy reversals)
    • The fear of ostracism (e.g., avoiding dissent to maintain social harmony)
    • The comfort of conformity (e.g., parroting narratives to avoid cognitive dissonance)
    • The addiction to status (e.g., signaling compliance to maintain professional or social standing)

    Each natural human trait becomes a vulnerability to be exploited. The most educated become the most programmable because their status addiction runs deepest. Their “critical thinking” becomes a script running on corrupted hardware.

    This is the core challenge of our time: Can human consciousness evolve faster than the systems designed to hijack it? Can pattern recognition and awareness spread faster than manufactured consensus? Can enough people learn to read between the lies before the programming becomes complete?

    The stakes could not be higher. This isn’t just about politics or media literacy—it’s about the future of human consciousness itself. Whether our species maintains the capacity for independent thought may depend on those who can still access it helping others break free from the spell.

    The matrix of control deepens daily, but so does the awakening. The question is: Which spreads faster—the programming or the awareness of it? Our future as a species may depend on the answer.

    Tyler Durden
    Wed, 01/01/2025 – 21:20

  • "What Is The Biggest Risk For 2025" And 13 Other Highlights From DB's 2025 Market Survey
    “What Is The Biggest Risk For 2025” And 13 Other Highlights From DB’s 2025 Market Survey

    The Deutche Bank 2025 global financial market survey had 471 responses from around the world, and was conducted between the 10th and 13th of December 2024. Here are the 14 main highlights:

    1. Only 2% believe US growth will be below 1% in 2025, whereas that’s the average expected for Europe. The average expected for the US in 2.5%, no respondents think Europe will be at or above this level.

    2. A global trade war is seen as the biggest observable risk for 2025, followed by a tech stock plunge and concerns over inflation and bond yields

    3. Investors think Trump means business on tariffs but an average score of 5 means that they don’t think he’ll be as aggressive as the campaign pledges. Only 6.4% think he’ll be more extreme (8 and above)

    4. The overwhelming majority (90%) believe the German debt brake will be reformed. However, only 12% believe the change will be significant.

    5. German respondents were much more confident that there will be reform of some description, with only 2% thinking the debt brake will remain in its current form.

    6. DB asked this question 3 times in both 2021 and 2024. Less think there’s a US tech bubble in 2024 than in 2021 but the overall number is still high. There’s been no real increase in the bubble score for the Mag-7 through 2024, even with a 72.5% climb YTD. Bitcoin sees the highest bubble risk and European equities are seen furthest away from this…

    7. For the Mag-7 in 2025 while 33% believe they’ll decline and 22% think by more than 10%, 67% think they’ll be higher with an average overall gain of 6.8% expected, albeit down from the 12.9% expected in 2024

    8. YE 2025 Treasury yield expectations (average 4.2%) are a bit lower than current levels with only 4% believing we’ll end 2025 >5%

    9. Germany yields are seen steady in 2025 on average but with 50% expecting 10yr yields to end the year less than 2%

    10. The S&P is expected to be +5.2% higher in 2025, with 23% believing it will be lower and 23% believing up >10%. The overwhelming consensus (35%) think between 5% to 10% and much more concentrated than in prior years.

    11. Bitcoin and Nvidia are seen as more likely to halve than double, especially Bitcoin. However, 24% and 28%, respectively, believe they’ll double. We first asked in 2021, and both have doubled since but did halve into 2022 first

    12. AI is increasingly infiltrating the office, but extensive use hasn’t increased in the last 5 months…

    13. The US and Europe are clearly diverging in expected inflation, with US picking up again through 2024 but European expectations sharply lower since the summer and below 2% for the first time since Q4 2021.

    14. Home Alone is your favorite Xmas movie. Let’s hope your house doesn’t end up the same as that one did this Xmas and that Die Hard isn’t your Xmas template either.

    Tyler Durden
    Wed, 01/01/2025 – 20:40

  • The Senselessness Of Certain Wars: Reflections From Vietnam To Ukraine
    The Senselessness Of Certain Wars: Reflections From Vietnam To Ukraine

    Authored by Hans Mahncke via Truth Over News,

    I have been a huge fan of Vietnam and its people ever since my first visit 25 years ago. It is a truly special place, which is why I recently returned for the first time since the Covid pandemic. While Vietnam’s charm and uniqueness remain unchanged, this visit felt different. I have explored the Cu Chi Tunnels, the War Remnants Museum, and observed daily life in Vietnam many times before, but this time felt different. Perhaps because Trump had just been re-elected, offering a renewed possibility for change and peace, I found myself repeatedly reflecting on the Vietnam War—especially on the lessons it should have taught us about the ongoing conflict in Ukraine.

    War Remnants Museum, Saigon (credit: Hans Mahncke)

    The War Remnants Museum in Saigon, in particular—filled with military equipment left behind by the United States—is a place that everyone should try to visit at least once. It stands as a powerful testament not only to the immense human cost of war—something all war museums convey—but also to the particular senselessness of the Vietnam War.

    The centerpiece of the War Remnants Museum is its collection of abandoned American military equipment, and for good reason. These relics powerfully convey the museum’s core message: the folly of intervening in a distant conflict with inadequate understanding, engaging in extensive bombing, and then retreating when plans fail, leaving chaos behind. Yet, there’s no sense of triumph or gloating. The abandoned equipment speaks for itself. If blame is assigned at all, it points to the corrupt South Vietnamese leadership, while the United States is portrayed more as a misguided participant—entangled in a conflict it neither understood nor should have joined in the first place.

    War Remnants Museum, Saigon (credit: Hans Mahncke)

    In the same vein, what struck me most during my visit, and not for the first time, was the remarkable warmth and kindness that the Vietnamese people extend toward foreigners, particularly Americans. This contrast between past conflict and present-day hospitality not only highlights the resilience and forgiveness of the Vietnamese people but also underscores the profound tragedy of the conflict. The pain and suffering endured appear even more tragic when contrasted with the reality that these two nations never needed to have confronted each other at all.

    The Vietnam War was, at its core, a struggle for independence and self-determination. From the American perspective, however, it became a quagmire of fundamental misunderstandings and strategic missteps. Often overlooked amidst conflicting narratives is the fact that, after enduring a century of French colonial rule, the Vietnamese people’s foremost priority was achieving independence. Foreign intervention, regardless of intent, was unlikely to succeed in such a context. The United States’ failure to grasp this reality led to its involvement in a conflict that was both senseless and unwinnable. But, driven by exaggerated Cold War fears, much like media narratives shaping discussions of the ongoing war in Ukraine, the United States chose to intervene.

    War Remnants Museum, Saigon (credit: Hans Mahncke)

    Indeed, the sense of futility surrounding the Vietnam War is not confined to history. The parallels with the current situation in Ukraine are striking. Once again, a regional dispute has been escalated by external powers, particularly the United States, under the banner of ideological or strategic imperatives. In both cases, local tensions were amplified, turning what might have remained contained conflicts into international crises with profound global repercussions.

    What’s particularly tragic in both wars is the role of miscalculated intervention. In Vietnam, American involvement intensified a civil war, transforming it into a Cold War battleground at the cost of millions of lives. In Ukraine, while the stated motivations focus on defending sovereignty and democracy, the consequences are just as dire: countless dead, displaced populations, and a precarious drift toward World War III.

    In both instances, U.S. involvement was framed as pursuing noble goals—whether fighting communism or upholding the international order—but the outcomes reveal a different reality, marked by immense human suffering and global instability.

    The origins of the Ukraine war are more complex than often portrayed in legacy media narratives. It did not begin with Putin’s invasion in February 2022 but can be traced back to the political upheaval of February 2014, when then-Vice President Joe Biden approved a coup d’état that resulted in the ousting of Ukraine’s democratically elected government. This event ignited a decade-long civil conflict between the country’s Russian-speaking and Ukrainian-speaking regions.

    Setting aside that Biden foolishly revived centuries-old ethnic tensions, what interest does the United States have in this situation? And how is American involvement going to resolve these deep-seated feuds?

    But it’s even worse than that. American involvement in Ukraine is, in at least one key respect, even more problematic than its involvement in the Vietnam War. While Vietnam was already embroiled in a civil war before the U.S. became involved, in Ukraine, external intervention—specifically by Joe Biden—was instrumental in igniting the civil war in the first place. This distinction underscores the profound and far-reaching consequences of foreign intervention in local disputes, even when well-intentioned.

    War Remnants Museum, Saigon (credit: Hans Mahncke)

    As I traveled through Vietnam, I felt the weight of these connections. A war fought decades ago in the name of ideology now serves as a stark lesson in unintended consequences, yet similar mistakes are being repeated today. The remnants of the Vietnam War—rusting tanks, poignant photographs of victims, and harrowing stories of suffering—stand as haunting reminders of the devastation wrought when foreign powers escalate regional disputes into proxy wars.

    What makes this situation even more tragic is how avoidable such conflicts are. The Vietnam War did not have to unfold as it did. The United States did not have to assume the role it played. The lessons learned from Vietnam should inform our understanding of Ukraine: wars waged far from home, under the pretense of noble ideals, often cause more harm than good to those they purport to protect.

    This visit to Vietnam left me with a profound sense of sorrow—more so than any previous trip. It was not only for the lives lost and futures shattered but also for the cyclical nature of human folly. Perhaps by acknowledging the senselessness of one war, we can prevent the unnecessary escalation of another.

    Tyler Durden
    Wed, 01/01/2025 – 20:00

  • Musk Confirms "Large Fireworks &/Or Bomb" Exploded Cybertruck At Trump Vegas Hotel
    Musk Confirms “Large Fireworks &/Or Bomb” Exploded Cybertruck At Trump Vegas Hotel

    Update (1941ET):

    “The evil knuckleheads picked the wrong vehicle for a terrorist attack. Cybertruck actually contained the explosion and directed the blast upwards. Not even the glass doors of the lobby were broken,” Elon Muks wrote on X. 

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    Update (1901ET):

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    Update (1723ET):

    “We have now confirmed that the explosion was caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck and is unrelated to the vehicle itself,” Tesla’s Elon Musk wrote on X, “All vehicle telemetry was positive at the time of the explosion.” 

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    Update (1534ET):

    Government officials told ABC News that the Tesla Cybertruck explosion on Wednesday outside the Trump Las Vegas hotel in Nevada is being investigated as a “possible act of terror.”

    Here’s more from ABC:

    Investigators do not know what caused the blast, such as whether something was wrong with the vehicle or whether something external prompted it. Determining what was behind the explosion is the key focus of the probe.

    An official briefed on the probe told ABC News that the Tesla Cybertruck had a load of fireworks-style mortars onboard. Investigators are urgently working to determine a motive and whether the driver intended to set off an explosion and why.

    Until a motive is determined and other possibilities are ruled out, police are treating the explosion like a possible criminal act and a possible act of terror. Evidence collection and investigation are ongoing.

    Tesla’s Elon Musk responded:

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    With everyone on edge after the New Orleans ‘terrorist attack‘ on Bourbon Street early this morning, reports flooded X moments ago of a ‘boom’ and/or a ‘vehicle fire’ in Las Vegas. 

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    It turns out the ‘boom’ was caused by a Tesla Cybertruck ablaze in front of the Trump Hotel in Las Vegas, possibly due to a lithium battery fire.

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    Wow. 

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    What are the odds?

    Tyler Durden
    Wed, 01/01/2025 – 19:41

  • Former CIA Officer Warns: 1,000 Al-Qaeda Fighters In US For Next Homeland Attack 
    Former CIA Officer Warns: 1,000 Al-Qaeda Fighters In US For Next Homeland Attack 

    In a recent discussion on the Shawn Ryan Show, former CIA targeting officer Sarah Adams warned of a potentially devastating attack planned by Al-Qaeda terrorists on American soil.

    The interview offers significant insights into what may be unfolding, as Al-Qaeda sleeper cells could be activating in the wake of the New Orleans terrorist attack and a possible vehicle-borne improvised explosive device (VBIED) in the rear of a rented Tesla Cybertruck that exploded outside Trump’s hotel in Las Vegas just hours later.

    Ryan asked Adams: “I just want to clarify. You are 100% certain that there are 1,000 plus Al-Qaeda-trained fighters within the US borders?”

    Adams, currently a global threat advisor with extensive experience in Middle Eastern affairs, responded: “Well, Al-Qaeda says they trained and deployed a thousand for this attack. First off, I think there are more than a thousand Al-Qaeda members in the United States, but for the Homeland Attack, that number is based on what Al-Qaeda is saying, so they could exaggerate it; however, they did have about 1,400 in the Hamas Attack so the number is not off from what they did in the first round of attacks.” 

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    Adams provided more details on a potential 2025 homeland attack. 

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    The terrorist attack on Bourbon Street, along with the postponement of the Sugar Bowl at the Caesars Superdome in New Orleans, suggests that something larger is unfolding.

    “There’s far too much of this happening—and when an attack on our homeland emanating from Afghanistan occurs, the resulting moral injury will be catastrophic. Those who served deserve far better than this!” Adams wrote hours before the attack on Tuesday night. 

    Meanwhile, General Mike Flynn, who served as national security adviser in the Trump administration 1.0, wrote on X:

    Again, it is not what you call it in the end that matters. What matters is if there was intelligence prior in some agency or department and it wasn’t acted upon. A failure of decision makers not a failure of intelligence.

    Prevention is what we shoot for, that is what the hard work of intelligence does. If you don’t follow it and hunt down every lead, then you end up in a reactive, after the fact mode. This, tragically, is where we are for what should have been a very joyous occasion. Members of my family were walking along bourbon street last night at midnight.

    Another big question, what’s next and are the people with knowledge rapidly cross leveling intelligence to prevent the next attack?

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    According to a federal source close to the counter-terrorism community, some of the latest intelligence briefings have indicated that pre-trained al-Qaeda terrorists have entered the US through the Biden-Harris administration’s open southern border. The source warned that this raises the risk of further attacks.

    The Biden-Harris administration’s disastrous exit from Afghanistan gave rise to al-Qaeda’s global jihad push (read: “Al Qaida Is Winning – The New Caliphate In Syria“). One wonders if these alleged terror cells operating within the US would still be active had Kamala Harris won the presidential election…

    Anyways… Could the Bourbon Street massacre be Al-Qaeda’s opening act of the coordinated attack on the homeland described by Sarah? Or are the public pre-emptive warnings an attempt to fearmonger more aggressive domestic surveillance (and ensure funding is maintained under DOGE)?

    Tyler Durden
    Wed, 01/01/2025 – 19:15

  • Top DOJ Officials Leaked Non-Public Info To Media "Days Before An Election": Inspector General
    Top DOJ Officials Leaked Non-Public Info To Media “Days Before An Election”: Inspector General

    Not content to The Department of Justice’s (DOJ) Office of the Inspector General (OIG) revealed this week that three senior DOJ officials violated internal policies and engaged in misconduct by leaking non-public investigative details to the media “days before an election.”

    The OIG, led by Michael Horowitz since 2012, conducted the investigation following a complaint alleging politically motivated disclosures related to ongoing DOJ matters.

    “The OIG investigation found that three then Senior DOJ Officials violated DOJ’s Confidentiality and Media Contacts Policy by leaking to select reporters, days before an election, non-public DOJ investigative information regarding ongoing DOJ investigative matters, resulting in the publication of two news articles that included the non-public DOJ investigative information,” the OIG stated in a brief investigative summary.

    The summary further noted that one of the officials compounded the misconduct by using a DOJ social media account to share links to the resulting news articles, a violation of both the Confidentiality and Media Contacts Policy and the DOJ’s Social Media Policy.

    Of course, in typical Horowitz fashion – we have no clue who leaked what to whom…

    The investigation faced limitations as the three implicated officials were no longer employed by the DOJ at the time of the probe, and either declined or failed to respond to interview requests. The OIG does not have the authority to compel testimony from former employees.

    Horowitz’s office confirmed that the findings have been referred to the Office of the Deputy Attorney General and the Professional Misconduct Review Unit for appropriate action. Additionally, the report has been shared with the U.S. Office of Special Counsel for further investigation into potential violations of the Hatch Act, which restricts political activities by federal employees.

    Unspecified Investigation at the Heart of the Leak

    The nature of the investigation leaked by the former officials remains unclear. However, similar concerns have been raised in other high-profile cases involving DOJ leaks. In September, Senator Chuck Grassley (R-IA) sent a letter to Attorney General Merrick Garland and FBI Director Christopher Wray, as well as Horowitz, accusing the DOJ and FBI of leaking information about a now-closed investigation into President-elect Donald Trump.

    The investigation in question involved allegations that Egyptian President Abdel Fatah El-Sisi attempted to bolster Trump’s 2016 campaign with $10 million in cash. Initially handled by Special Counsel Robert Mueller’s team, the probe was closed in June 2020 due to insufficient evidence, but details of the case were reported by The Washington Post in August 2024. The newspaper’s reporting cited “people familiar with the case” and “thousands of pages of government records, including sealed court filings.”

    Broader Pattern of DOJ Leaks and Misconduct

    Leaks have been a recurring issue within the DOJ. Trump, while campaigning for the 2024 GOP presidential nomination, accused Special Counsel Jack Smith of having “illegally leaked” information about the classified documents investigation against him. This included allegations that Smith leaked an audio recording of Trump discussing a classified document related to Iran, which was later included in a now-dismissed indictment.

    During Trump’s first term, leaks about the FBI’s investigation into alleged collusion between Russia and his 2016 campaign led to scathing reports by the OIG and subsequent investigations by Mueller and Special Counsel John Durham. Notably, former FBI Director James Comey was referred for prosecution in 2019 for leaking internal memos to the media, though the DOJ ultimately declined to press charges.

    Tyler Durden
    Wed, 01/01/2025 – 18:00

  • A Roadmap For DOGE's 30 Percent Budget Cut
    A Roadmap For DOGE’s 30 Percent Budget Cut

    Authored by Nikolai Wenzel via the American Institute for Economic Research (AIER)

    In a recent Wall Street Journal op-ed, Elon Musk and Vivek Ramaswamy laid out their vision for the new “Department of Government Efficiency” (DOGE) they will head within the Trump White House. They don’t yet have details (part of the plan involves identifying personnel, and then inefficiencies). But the vision has a three-part approach: ”regulatory recissions, administrative reductions, and cost savings.”

    With politicians it’s often hard to know what is solid conviction and what is bluster for future bargaining. With Donald Trump, it’s always hard to know. He wants to renew the 2017 tax cuts, which lowered income and corporate taxes until 2025… but he also wants to tax imports at 10 percent to 20 percent (and 60 percent for China), which is the equivalent of a consumption tax on an American economy that is hungry for imported goods. Mr. Trump wants to cut red tape and federal spending… but he also wants to increase spending on defense and mass deportations.

    Amidst all this, Messrs. Musk and Ramaswamy have bruited the lofty goal of a 30 percent cut in federal spending.

    The federal budget was $6.2 trillion for FY23 (which I use here for accounting simplicity, rather than FY24). This represents almost 23 percent of GDP, to which we can add 13 percent spent by states and local governments. To this, we can also add the 10 percent of GDP in annual compliance cost with federal regulations, as estimated by the Competitive Enterprise Institute. This total means that, for every dollar of economic activity, fully 46 cents are controlled, directly or indirectly, by politicians and bureaucrats. And only 54 cents of each economic dollar are in the hands of American consumers, families, and entrepreneurs. As of November 2024, the national debt is at 120 percent+ of GDP, and interest on the debt is the fourth biggest budget item (at $659 billion/year, or about 11 percent of federal spending). Clearly, America has a fiscal problem.

    Before we examine possible budget cuts, let us see where that whopping $6,200,000,000,000 is going. First, we must distinguish between mandatory spending and discretionary spending. Mandatory spending has been set in motion by Congress, without the need for annual negotiation or reauthorization. Discretionary spending must be legislated, in political jockeying between the Congress and the President.

    Mandatory Spending (71.7 percent of total federal budget). AIER

    Discretionary Spending (28.3 percent of total federal budget). AIER

    I propose three options for budget cuts, from the bold (and probably politically impossible) to the marginal.

    1. The Constitution

    I hate having to repeat it, over and over again… But the American people and the political class seem to have forgotten that the U.S. Constitution is different. Most other constitutions of the world are documents of assumed powers: governments are allowed to do anything, except that which is prohibited by the constitution. The U.S. Constitution, however, is one of limited and enumerated powers: it may not do anything, except that which is authorized by the constitution. Article 1, section 8 grants a bit over a dozen legislative powers to Congress (beyond the military and international powers authorized to the President in Article 2, and the judiciary powers in Article 3).

    According to Article 1, section 8, the Congress has power over the following, only:

    • taxes and import duties

    • borrowing

    • regulation of commerce among the states and internationally

    • establish uniform laws of immigration and bankruptcy

    • coin money, fix standards of weights and measures, and grant patents

    • punish counterfeiting and piracy

    • establish post offices and postal roads

    • to constitute tribunals inferior to the Supreme Court

    • declare war, and maintain and regulate armed forces

    • to control the District of Columbia and other federal properties

    Lest there be any doubt about enumeration and limitation, the 10th amendment reads as follows: “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or the people.”

    It should be obvious, then, that the vast majority of federal expenditures are not authorized by the Constitution; as such, they are prohibited and unconstitutional. Only a small percentage of actual federal spending is authorized by the Constitution: defense, operating and retirement expenses for federal employees, support to veterans, international relations and justice (for a total of $1.46 trillion). If we squint very hard at the Constitution, we could conceivably see transportation ($115 billion), health ($100 billion), and the environment ($48 billion)… if we suppose generously that such expenditures are authorized under the commerce clause, as functions that cannot be handled by the individual states. Even then, we find ourselves at $1.72 trillion, or 27.7 percent of the current budget.

    This would represent savings of $4.48 trillion, or 72.3 percent of the budget that could be returned from the unconstitutional hands of politicians and bureaucrats, back to American families, consumers, and entrepreneurs. Unfortunately, the President lacks the authority to veto mandatory spending, and merely enjoys veto power over discretionary spending bills. And, for all his talk of reducing red tape, Mr. Trump has yet to show a libertarian or constitutional soul. It is thus unlikely that we will end up with a North American version of a chainsaw-wielding Javier Milei of Argentina.

    2. Big-Ticket Items

    A return to constitutional constraints would be lovely. But it is not in the realm of the politically possible. The second option would be to start with the low-hanging fruit of Social Security and Medicare. Social Security was born in 1935, as part of FDR’s New Deal, and Medicare came to be in 1965, as part of LBJ’s Great Society. Neither of these programs is means-tested (technically, the Social Security formula is redistributive, but participation in both programs is mandatory for all Americans).

    Social Security might have been necessary in 1935 (I am skeptical, as I have read David Beito’s book, “From Mutual Aid to the Welfare State: Fraternal Societies and Social Services, 1890–1967.” Civil Society was doing a fine job of providing welfare, before the New Dealers decided everything had to be nationalized). But financial markets have evolved drastically since 1935. Americans now have easy, low-cost, and convenient access to mutual funds, and especially index funds that track the market without investor savvy.  The federal government could easily get rid of the low-yield, pay-as-you-go Social Security pension scheme, and replace it with a high-yield, portable, individually funded retirement plan. The Chilean plan of mandatory 10 percent contributions to a private fund would be a simple start. Likewise, insurance markets (especially if they are deregulated, unsubsidized, and fixed) can take care of the majority of American retirees.

    Simply stated, most Americans don’t need Social Security and Medicare. These two big-ticket items eat about one third of the federal budget. They are unconstitutional. And they are unnecessary. Again, as a student of David Beito, Alexis de Tocqueville, Henry Hazlitt, Marvin Olasky, economics, and history, I have learned the superiority of private charity over government welfare. But, as a temporary solution, Social Security and Medicare could easily be privatized, with a portion replaced by means-test programs, with a much smaller cost. Currently, about 20 percent of Americans receive federal welfare or Medicaid. Setting aside details, we can easily imagine privatizing pensions and healthcare for the other 80 percent, with an 80 percent cut in Social Security ($1 trillion in savings) and Medicare ($671 in savings), for a total of $1.67 trillion in savings. This would still not be constitutionally authorized, but it would represent almost one third of the federal budget. As a bonus, a privately funded retirement plan would represent a surge in investment, and thus of economic activity and tax revenue; the lower expenses would mean the national debt would not increase as much, and pressure on interest payments would be relieved. The true savings would thus exceed one third.

    Unfortunately, all retirees, rich and poor, have their snout in the federal trough—this was the political genius, and the fiscal disaster, of universal programs (rather than targeted means-tested programs). Social Security and Medicare costs are politically dangerous, and Mr. Trump has already promised he would not touch the two biggest federal expenditures.

    3. Marginal Cuts

    Without pushing constitutional respect or cutting the low-hanging fruit of big and outdated universal programs, the federal government could still save at the margin.

    As mentioned above, the Competitive Enterprise Institute has calculated that 10 percent of GDP is spent each year on compliance with federal regulations. A Mercatus Center study estimates that, if regulations had stayed steady at the 1949 level, the American economy would be a whopping 3.5 times stronger (imagine, if you will, a GDP of $95 trillion instead of $27 trillion). What is more, regulation is regressive (it has a disparate impact on the poorest). Without attacking the budget directly, DOGE could take a serious ax to federal regulation, to great effect.

    Finally, the Cato Institute has proposed a collection of small cuts that would amount to a serious $1 trillion to $2 trillion in savings (or 16 percent to 32 percent of the current budget).

    It would be ideal, of course, to return to the constitution—for reasons of rule of law, as much as for fiscal prudence. More local responsibility, more market competition, less bureaucratic waste, more reliance on an efficient and human civil society over a wasteful and anonymous federal machine to help the poor—these would all be positive developments that would restore America’s fiscal health while actually tackling poverty. In the meantime, a 30 percent budget cut is within grasp—and it would represent a return to federal spending, not in some distant past… but as recently as 2001.

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Wed, 01/01/2025 – 17:20

  • Moscow Fumes, Vows Response, After State Media Telegram Channels Blocked In EU
    Moscow Fumes, Vows Response, After State Media Telegram Channels Blocked In EU

    Moscow is fuming after at the start of this week several Russian state media outlets were blocked for EU-based users of the messaging app Telegram. Starting Sunday the channels of RIA Novosti, Rossiya 1, Channel One, NTV, Izvestia and Rossiyskaya Gazeta were inaccessible in the European Union.

    Kremlin officials slammed the “act of censorship” – with Foreign Ministry spokeswoman Maria Zakharova describing “the systematic cleansing of all undesirable sources of information from the information space” as ongoing in the West.

    She further condemned the “constant campaign of repression against Russian media in nearly all European Union countries,” adding that “these attacks and similar ones against our media will not go unanswered.”

    “We reserve the right to respond in the same manner,” she said, but without specifying what form the retaliation will take. The EU had already since the Ukraine war’s start cracked down on the major Russian state television international networks.

    More recently the EU moved against RIA Novosti, Izvestia and Rossiyskaya Gazeta, accusing the outlets of spreading propaganda on behalf of the Kremlin.

    It remains unclear the degree to which Telegram and EU authorities are acting in coordination on this:

    The messaging app Telegram has blocked access to channels belonging to major Russian state-owned news outlets across much of Europe, including Poland, Belgium, France, the Netherlands, Greece, Italy, and Latvia.

    When users based in the affected European countries attempt to access these channels, they see a notice saying the content is unavailable because it “violated local laws.”

    Neither Telegram nor European officials have publicly acknowledged the restrictions but Russian media outlets including RIA Novosti, Izvestia, NTV, Rossiya 1, and Rossiyskaya Gazeta all confirmed they had been blocked. 

    Late last summer Telegram CEO Pavel Durov was indicted in France for allegedly allowing criminal activity on the app. France’s arrest of him at a Paris airport when his private jet arrived was highly unusual, given they went straight after the CEO and founder.

    He has since vowed to cooperate on cracking down on criminal activity on the app, and be more responsive in providing data to law enforcement authorities.

    Tyler Durden
    Wed, 01/01/2025 – 16:40

  • Appeals Court Upholds Deal That Removes Death Penalty For Alleged 9/11 Mastermind
    Appeals Court Upholds Deal That Removes Death Penalty For Alleged 9/11 Mastermind

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

    The U.S. Department of Defense’s appeals court has turned down the Pentagon’s attempt to rescind the plea deals for the alleged mastermind of the Sept. 11, 2001, attacks and several alleged accomplices, paving the way for the men to avoid the death penalty.

    Secretary of Defense Lloyd Austin attends a Rose Garden at the White House, on May 25, 2023. Madalina Vasiliu/The Epoch Times

    U.S. Secretary of Defense Lloyd Austin did not have the authority to rescind the deals, a panel of judges on the U.S. Court of Military Commission Review said in the Dec. 30 ruling.

    Even if Austin did have the authority, he waited too long to act as lawyers for the alleged attackers had already started meeting requirements in their pretrial plea agreements, the panel said.

    The Pentagon had announced on July 31 that Susan Escallier, the official whom Austin appointed to lead the military court that is handling the 9/11 trials, signed off on the agreements with Khalid Shaikh (Sheikh) Mohammad, Walid Muhammad Salih Mubarak Bin ‘Attash, and Mustafa Ahmed Adam al Hawsawi. Mohammed is accused of masterminding the 9/11 attacks, which resulted in the deaths of nearly 3,000 in the United States, with help from the two others.

    “In exchange for the removal of the death penalty as a possible punishment, these three accused have agreed to plead guilty to all of the charged offenses, including the murder of the 2,976 people listed in the charge sheet,” a letter from military prosecutors to the families of victims of the attack said.

    Austin said on Aug. 2 that given the case’s significance, he would be in charge of it. He withdrew Escallier’s authority and the pretrial agreements.

    U.S. Air Force Col. Matthew McCall, a judge, ruled in November that Austin lacked the authority to withdraw the agreements. Even if he had the authority, it was too late to act, according to McCall.

    “If an accused begins performance of the terms of a PTA [pretrial agreement], the convening authority loses the right to withdraw from the deal,” the military judge wrote at the time.

    The Pentagon appealed the ruling, leading to Monday’s decision.

    The panel of judges said that Austin could replace Escallier as the convening authority for the case, even without taking all of her responsibilities. However, they said that the intervention in the current case “is without precedent” and that based on a ruling in a different case, Austin cannot order the withdrawal of the deals for Mohammad, Attash, and Hawsawi.

    Escallier could withdraw the agreements, but only until the men started to meet the requirements, according to the panel.

    Austin can withdraw Escallier’s authority to approve future agreements in the case, the judges said, in a partial victory for the military.

    Tyler Durden
    Wed, 01/01/2025 – 16:00

  • 10 Dead, At Least 30 Injured After Terrorist Plows ISIS-Flag-Waving Truck Into Crowd On Bourbon Street
    10 Dead, At Least 30 Injured After Terrorist Plows ISIS-Flag-Waving Truck Into Crowd On Bourbon Street

    Summary:

    • 10 dead, at least 30 injured after truck plowed through Bourbon Street, New Orleans

    • FBI confirmed investigating as a ‘terror’ attack

    • The white Ford F-150 Lightning (EV) truck used was rented

    • ISIS Flag posted on the vehicle

    • The suspect is confirmed as 42-year-old Shamsud Din Jabbar. US Citizen from Texas

    • The suspect opened fire on police, was shot and killed

    • Law enforcement is investigating at least two potential IEDs planted in the area

    • Sugar Bowl has been postponed until tomorrow

    • Louisiana Governor declares state of emergency 

    *   *   *

    Update (1530ET):

    Alethea Duncan, an assistant special agent in charge of the FBI’s New Orleans field office, told reporters that Shamsud-Din Jabbar, 42, a US citizen and Army veteran from Texas and the suspected terrorist, did not act alone.

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

    Duncan stated that intelligence officials are working to determine Jabbar’s potential associations and affiliations with terrorist organizations.

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

    *   *   *

    Update (1508ET):

    Is ‘Twitter’ censorship back? 

    Yes, it is. The embed function in the tweet has been disabled…

    Come on, Musk…  

    *   *   *

    Update (1225ET):

    NOLA reports the suspected terrorist is 42-year-old Shamsud Din Jabbar. 

    The source said Jabbar was carrying an ISIS flag in the truck, and authorities have said he was dressed in military gear. -NOLA 

    Additional details about the suspected terrorist: 

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

    *   *   *

    Update (1157ET):

    The dead suspected terrorist was seen dressed in military fatigues.

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

    Michael Flynn, who served as national security adviser in the Trump administration 1.0, wrote on X:

    Again, it is not what you call it in the end that matters. What matters is if there was intelligence prior in some agency or department and it wasn’t acted upon. A failure of decision makers not a failure of intelligence.

    Prevention is what we shoot for, that is what the hard work of intelligence does. If you don’t follow it and hunt down every lead, then you end up in a reactive, after the fact mode. This, tragically, is where we are for what should have been a very joyous occasion. Members of my family were walking along bourbon street last night at midnight.

    Another big question, what’s next and are the people with knowledge rapidly cross leveling intelligence to prevent the next attack?

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

    Readers should be reminded that just two weeks ago, we pointed out: “In the short term, the threats to the homeland are rising… Democrats have transformed America into a ‘terrorist playground’ with open borders.”

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

    A massive scandal could erupt with the outgoing Biden administration, which likely did not act on critical intelligence about domestic threats. 

    *   *   * 

    Update (0750ET):

    New Orleans Mayor LaToya Cantrell confirmed that the truck ramming attack on Bourbon Street was a “terrorist attack.”

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

    “First of all, the city of New Orleans was impacted by a terrorist attack. I’ve been in direct contact with the White House, Governor Landry, and the unified command here.”   

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

    Police killed the terror attack suspect when he exited the truck with an assault rifle, per ABC News report. 

    Source: NYT

    Let’s not forget…

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

    Two weeks ago… 

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

    *   *   * 

    Update (0730ET):

    Local media outlets have published an image of the truck involved in the mass casualty incident on Bourbon Street.

    The Ford F-150 Lightning truck has a Texas license plate reading “LZ 1575.” A flagpole hitch holder is visible with what appears to be a flag, although it seems covered. Additionally, there are four bullet holes in the rear cabin window of the truck.

    *   *   * 

    Update (0700ET):

    The New Orleans Police Department told ABC News that “the strike appeared to be intentional” and “the driver has not been taken into custody.”

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

    Witness tells CNN:

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

    *   *   * 

    Update (0640ET):

    The City of New Orleans has confirmed ten dead and 30 injured after a vehicle plowed into a large crowd on Canal and Bourbon Street.

    The New Orleans Police Department has yet to confirm whether the mass casualty incident was intentional. No details about the driver have been released. 

    Governor of Louisiana Jeff Landry writes on X: 

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

    A press conference is expected shortly.

    *   *   * 

    The New Orleans Police Department told local media outlet WGNO that multiple people are dead after a vehicle plowed into a crowd on Bourbon Street in the French Quarter. The area, a bar and restaurant district popular with tourists, was still very active just hours after New Year’s Eve celebrations.

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

    NOPD said the vehicle struck a group of people around 3:15 a.m. local time at the intersection of Bourbon Street and Iberville

    Witnesses told CBS News reporter Kati Weis that a truck crashed into the crowd at “high speeds,” adding that the driver exited the vehicle and started discharging a weapon, prompting police officers to return fire.

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

    Unconfirmed video. 

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

    Weis reported that multiple people were on the ground with serious injuries.

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

    NOPD told CBS News that “initial reports show a car may have plowed into a group of people. Injuries are unknown but there are reported fatalities.”

    *Developing… 

    Tyler Durden
    Wed, 01/01/2025 – 15:30

  • Jack Be Gone: Special Counsel Withdraws From Classified Documents Case Against Trump Co-Defendants
    Jack Be Gone: Special Counsel Withdraws From Classified Documents Case Against Trump Co-Defendants

    Special Counsel Jack Smith has withdrawn from the classified documents case against two of Donald Trump’s co-defendants in the classified documents case, and has referred it to a local US attorney’s office.

    In a court filing, Smith announced that he’s moving to “withdraw” five attorneys from the case “associated with the special counsel’s office” against co-defendants Walt Nauta and Carlos de Oliveira, who were charged along with Trump.

    “The special counsel has now referred this case to the United States Attorney’s Office for the Southern District of Florida, which has separately entered an appearance,” reads the filing.

    Prosecutors accused Nauta – Trump’s valet, and Oliveira – the manager of Mar-a-Lago, of hiding boxes of records from federal investigators. They face charges of obstruction of justice as well as making false statements to investigators among various charges connected to concealing documents. Both have pleaded not guilty.

    As the Epoch Times notes further, after Trump’s election victory in November, Smith said he would not pursue an appeal of a federal judge’s decision in July to dismiss the classified documents case. At the same time, Smith’s office dropped its case against Trump brought in Washington that separately accused him of illegally trying to overturn the 2020 election.

    Smith said that he dropped his appeal and case against Trump because of a decades-long Department of Justice rule that prohibits prosecuting a sitting president.

    In the documents case, Trump pled not guilty on dozens of counts as prosecutors alleged that he mishandled classified documents after leaving the White House in 2021 and obstructed federal officials. FBI agents raided Mar-a-Lago in August 2022 and obtained boxes of documents.

    Trump has said that both federal cases against him were politically motivated and designed to harm his chances for reelection. In several media appearances during the campaign cycle, Trump said he would end the Smith cases and fire him.

    “I persevered, against all odds, and WON,” Trump wrote in a post on Truth Social last month after Smith moved to drop the cases.

    The president-elect also said, “These cases, like all of the other cases I have been forced to go through, are empty and lawless, and should never have been brought.”

    In court papers indicating he would drop the election case, Smith’s team wrote that the DOJ had found that the Office of Legal Counsel’s “opinions concerning the Constitution’s prohibition on federal indictment and prosecution of a sitting President apply to this situation and that as a result this prosecution must be dismissed before the defendant is inaugurated.”

    “That prohibition is categorical and does not turn on the gravity of the crimes charged, the strength of the Government’s proof, or the merits of the prosecution, which the Government stands fully behind,“ his filing said. ”Based on the Department’s interpretation of the Constitution, the Government moves for dismissal without prejudice.”

    U.S. District Judge Tanya Chutkan, based in Washington, quickly granted Smith’s motion to dismiss the matter. In the classified documents appeal, the U.S. Court of Appeals for the 11th Circuit similarly complied by dropping Trump from the case.

    Tyler Durden
    Wed, 01/01/2025 – 15:20

  • Firefighters, Police Attacked In Diverse Areas Of Brussels During NYE Chaos
    Firefighters, Police Attacked In Diverse Areas Of Brussels During NYE Chaos

    Authored by Paul Joseph Watson via Modernity.news,

    Firefighters and police officers were attacked with fireworks and more than 60 cars were torched during a night of chaos in diverse areas of Brussels, Belgium.

    “Once again New Year’s Eve in Brussels was the scene of acts of arson, wanton vandalism and violence against emergency service personnel,” reports VRT News.

    The last day of the year is routinely characterized by such attacks by migrant communities in major European cities, the worst example being New Year’s Eve in 2015, where over a thousand women were molested and raped by migrant gangs in Cologne, Germany.

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

    According to Walter Derieuw of the Brussels Fire Service there were, “Between 60 and 70 vehicles that have been burned out,” and there were a further 60 call outs to respond to “burning rubbish bins, benches, bushes and mattresses.”

    Marking a “very turbulent New Year’s Eve,” Derieuw said, “Several firefighters had bricks thrown at them and there were people that fired horizontal fireworks and threw Molotov cocktails.”

    The Belgian capital’s emergency services received at least 588 call outs to deal with the chaos during the course of the night while 64 people were detained for their role in the unrest.

    A video compilation shows emergency vehicles being pelted with fireworks and objects being dropped from a bridge by hooded youths in Molenbeek, while multiple vehicles were set on fire in Anderlecht, both heavily multicultural areas.

    Molenbeek, where two people were also stabbed on Christmas day, is widely known as Europe’s ‘jihadi central’, and was where Paris massacre terrorist Salah Abdeslam was able to hide out for months before being caught.

    In 2022, it was revealed that Islamic names make up 43 per cent of total registrations in Brussels, with the most popular name for newborn babies being Mohamed and its different spelling variations.

    The country contains numerous ‘no-go zones’ where migrant enclaves exist almost outside of the law.

    *  *  *

    Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

     

     

     

     

    Tyler Durden
    Wed, 01/01/2025 – 14:40

  • Americans' Top New Year's Resolutions For 2025
    Americans’ Top New Year’s Resolutions For 2025

    Planning to save more money is once again top of mind for many Americans making resolutions for 2025.

    As Statista’;s Anna Fleck shows in the chart below, data from a recent survey by Statista shows that one in five U.S. adults are committing to the financial goal.

    Infographic: America's Top New Year's Resolutions for 2025 | Statista

    You will find more infographics at Statista

    Vows to eat healthier, exercise more and lose weight were the next most commonly cited resolutions this year, picked by between 15-19 percent of respondents.

    Four in ten U.S. respondents said that they do not plan on making any resolutions for next year.

    Tyler Durden
    Wed, 01/01/2025 – 14:00

  • On The Way Out The Door, Biden Is Emptying The Coffers
    On The Way Out The Door, Biden Is Emptying The Coffers

    Authored by Lawrence McDonald via The Bear Traps Report,

    The Legendary “W” Games

    Over the last 250 years of American political gamesmanship, both parties have played year-end games into the arms of a new incoming administration. In early 2000, the incoming George Walker Bush team discovered that every keyboard in the White House and other administrative offices was missing the “W” key.

    The outgoing Clinton staff had removed all the “W” keys to annoy the new administration after an extremely contentious election.

    The damage was small, estimated at $15,000.

    But the bigger message here was that when the party that runs the White House changes, the outgoing administration will leave some proverbial “time bombs” for their successors.

    While the damaged keyboards were more like a bad joke, what Biden is doing to Trump now is serious business. The outgoing administration has opened the spigots table max to get every penny out the door while they can under the existing budget.

    It’s almost like they are looting the Treasury before they leave town.

    Biden is Opening the Floodgates with Spending

    Spending for 2025 is expected to exceed $2Tr by the time Biden leaves DC on January 20th. This is over 30% of the annual budget, and Trump will have to cut spending for the rest of the year to stay within the limits of the allocated budget. This could mean a notable slowdown in GDP growth in the first quarters of 2025.

    Bonds have taken Notice

    Ever since the Fed cut rates in September, U.S. 10-year bond yields are about 1% higher, and mortgage rates are following in lockstep. Hedge funds are selling short, betting on lower bond prices into colossal incoming bond sales from the U.S. Treasury. This is a highly unusual activity and has the fingerprints of the bond vigilantes everywhere; a revolt is in the works.

    Lunatics – as Usual – on Capitol Hill 

    Congress, in its usual fashion, has failed to agree on the next budget, so the government is currently operating under a “continuing resolution” (CR). This continuing resolution means the government is allowed to spend the same amount of money they spent last year, which is $6.75TR. The government’s fiscal year started on October 1st, and Biden is on a run rate to spend almost $2TR by the end of December and a deficit that may exceed $800bl (+60% y/y). So, when Trump comes in on January 20th, he has three quarters left of the government’s fiscal year, but by then, Biden has spent more than 30% of the total allocated budget. This forces Trump to cut spending right off the bat. We estimate spending could drop by $500bl quarter over quarter, or 25% from Q4 to Q1. This is an estimate, and the timing of spending can change. But the fact is that Biden is emptying the coffers before Trump gets in. Every week, more money and weapons are sent to Ukraine, more subsidies are given to semiconductor makers to build plants in the US, and more government employees are hired.

    US Yields Surge While Others Languish

    Since September, US Yields have surged over 20% on Biden’s sugar high, while Canadian and German yields are down since then, Chinese yields have collapsed, and UK yields are only modestly above the September level.

    Government Job Growth Twice the Rate of the Private Sector

    Private sector job growth has lagged government job growth significantly in the last year as the government keeps hiring people.

    Why is this so Bad?

    We believe that this spending deluge by Biden on his way out is partially to blame for the surge in bond yields in Q4. Some may say it’s because of Trump and his promised tax cuts, but the Republican House majority is so slim that it’s unclear how much of a fiscal stimulus Trump is actually able to get through Congress. Also, the incoming Senate majority leader Thune (R, SD) has said he will only get one bill through reconciliation in FY 2025 and another one in FY2026. His priority is on immigration and energy legislation, so a fiscal spending bill might not come until late 2025 or early 2026 if anything. But if yields are being pushed up by all this spending in Q4, then what will happen if spending falls back in early 2025? And what will happen to GDP growth? A $500bl drop in government spending from Q4 to Q1 is the equivalent of 1.7ppt of growth. So, if Q4 nominal growth comes in at 5.7% annualized, this could drop to 4% in Q1 if government spending slows down accordingly.

    Treasury’s Reliance on Short-Term Debt Exploded in Recent Years

    Election Rigging? We are witnessing a Covid era like spending in 2024 without a pandemic. The Treasury Department has come to rely on short-term bills to fund the government. But with $36Tr of debt, the Treasury has to issue bills almost every day to keep funding the government and to refund maturing debt.

    Interest Payments on the Federal Debt Load

    • 2026: $2.1T?

    • 2025: $1.5T?

    • 2024: $910B

    • 2023: $658B

    • 2022: $475B

    • 2021: $352B

    • 2020: $224B

    *CBO data, Bloomberg. The average weighted coupon on the U.S. debt load is about 2.7% vs. over 4.5% for 10-year U.S. Treasuries. As bonds mature, they get refinanced at much higher yields.

    $10Tr of Debt Refinancing Next Year

    In 2024 Treasury faced around $10Tr of maturing debt. To refinance this debt, it issued a whopping $26Tr of bills and bonds. More than 84% of that paper was short-term bills with a maturity of 6 months or less. Treasury keeps re-issuing bills with a maturity of 4 to 8 weeks or 3,4 to 6 months, which are the most popular maturities in a continuing, ever-increasing roll down of the debt, day after day, month after month.

    Apple Long-Term Bonds and Interest Rates

    ALERT – By issuing nearly a colossal load of extremely short-term bills, Janet Yellen succeeded in suppressing bond volatility in an election year and, in our view, strategically placing that bond market volatility into 2025 after the election. You can “why” see above, she wanted LESS long-term paper in circulation markets in the election year. Now, in 2025 – this paper has to be rolled over and termed out into longer-dated bonds. The USA is behaving like a financially trapped emerging market country. Living on the “front-end” of the yield curve is a VERY dangerous game.  The Apple AAPL 2.55% bonds due 2060 are trading down at 57 cents on the dollar. If long-term bond yields go to 6%, take a guess where this bond will trade. Near 47 cents on the dollar? Now think of the trillions of USD loans issued in 2017-2021 on bank balance (commercial real estate, mortgages, corporate debt outstanding). Losses are in the trillions of dollars with higher incoming interest rates. 

    Interest Rates UP – Bond Prices DOWN

    Never, ever forget that 6% today is equivalent to the destructive capacity of 10% twenty years ago. Interest rates up, mean bond prices down. A 1% move in interest rates higher today is an entirely different, far more lethal equation.

    Incoming Stress Points

    In 2025 the U.S. Treasury faces $9.6Tr of maturities in their so-called publicly held debt. In Q1 alone — the government faces $5.58Tr of maturities (bonds coming due, redemption), but 86% of those are short-term bills that the Treasury department rolls over into new 4-week, 8-week, 3,4, or 6-month bills, among others. 

    As a result, almost daily bill auctions are coming to a theater near you, as the Treasury Department mindlessly keeps pushing new paper into the market to pay back the colossal amount of maturing debt.

    Is There Any Reason to Buy Treasuries?

    The new Treasury department under Scott Bessent may reduce bill issuance a bit and increase coupon paying issuance, just to alleviate some of the pressure on the bills market and extend the duration of outstanding US debt. Now that the big slush fund that bought all these bills, the so-called Reverse Repo Facility (RRP), is close to being depleted, it will be harder to sell all that short-term paper. In addition, Goldman Sachs expects that the Federal Reserve will stop the run-off of treasuries from its balance sheet by the end of January and begin buying treasuries again with the proceeds of the maturing MBS on its balance sheet. As such, the Fed becomes a modest buyer of treasuries next year, which allows the Treasury to increase coupon issuance without disrupting the long end.

    One big bullish catalyst for treasuries would be a regulatory change to exempt treasuries from the Supplemental Leverage Ratio (SLR). It is unclear if and when this would be implemented, although Bessent was hinting at regulatory relief for banks to boost banks’ treasury holdings. Exempting treasuries allows banks to hold more Treasuries on their balance sheets without needing to hold additional capital against them, freeing up the capacity for banks to participate more actively in the Treasury market. Its unclear how much treasury demand that would create, but in 2021, when the temporary SLR exemption was reinstated after COVID, prime dealers reduced their Treasury holdings from $250bl to $125bl in 2 months. A change in the SLR ratio may come but is going to take months before the rules are changed. A phase-out of QT for treasuries would be a more immediate, albeit more modest, relief for the bond market. According to this timeline, the Fed will end up buying $100bl of treasuries in 2025, a big change from the $500bl of treasury sales in 2024.

    The Fed has been Politicized

    We have been very critical of Yellen’s term at the Treasury, but upon some further reflection, we think it’s really the case that Yellen’s only real issue was acting in the short-term interests of her boss and her party as opposed to thinking longer-term about how the government finances itself on a sustainable basis.

    Her decision to fund the government with T-bills over duration securities and violate long-standing Treasury Department “norms” was incredibly short-sighted, but as someone who works for the President, ORDERS to follow.

    Many have been super critical of her for these decisions because she should know what they would lead to and how really what she (and Powell together) has done is favor asset owners and the wealthy over everyone else in America, exacerbating wealth inequality to precarious levels in this country while still not bringing inflation back down to target. So ultimately, her decisions got her team knocked out of office anyway.

    Looking forward, though, the issue is that there is no one in the government who is really thinking about and acting on behalf of the longer-term interests of the country when it comes to how much debt we are raising and how we are financing the government. The myopia about these decisions to get the existing political party in control through the next election is incredibly concerning.

    The Fed has said this is not their lane; however, they are elected to 14-year terms and are supposed to be above politics. There are things they could have done to offset the politicization of the Treasury. They chose not to, they continue to protect asset holders and the Treasury market, decisions that really just make them become political as well. They could have better neutralized Treasury’s political decisions through more active QT, actually selling securities instead of just rolling them off, not adding to their duration holdings such that the weighted average maturity (WAM) of their positions is longer than Treasury’s own WAM. Powell’s Fed needs to be getting way more criticism than they are currently about these decisions which have made it harder to bring inflation down for the average American.

    So if the Treasury is not going to think long term and the Fed is not going to either (the Fed actually is complicit because they don’t allow any real treasury market dysfunction to exist, which would be the way to deal with these long term issues by having the market / bond vigilantes do their thing), then who will? This is a problem, the bond market is starting to figure it out, term premiums are starting to normalize and the new administration will have to make some big decisions early on in their term.

    Maybe @elonmusk and @DOGE can look into this as well. Someone has to!

    *  *  *

    Pick up Larry’s new best-selling book — “When Markets Speak“ – On Amazon today.  

    Tyler Durden
    Wed, 01/01/2025 – 13:20

  • End Of An Era: Ukraine Halts Transit Of Russian Gas To Europe
    End Of An Era: Ukraine Halts Transit Of Russian Gas To Europe

    An era came to a close in Europe on the first day of 2025.

    Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year’s Day, marking the end of five decades of Moscow’s dominance over Europe’s energy markets, as well as cheap gas that kept Germany’s economy humming.

    The gas had kept flowing despite nearly three years of war, but Russia’s gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement as we previously noted.

    According to Reuters, the widely expected stoppage is unlikely to impact prices for consumers in the European Union – unlike in 2022, when falling supplies from Russia sent prices to record highs, worsened a cost-of-living crisis and hit the bloc’s competitiveness – however, that is a rather naive statement since European nat gas prices have been rising all year and closed 2024 more than doubling from their February lows. They will only keep rising now.

    The last few European buyers of Russian gas via Ukraine, such as Slovakia and Austria, had already arranged alternative (and far more expensive) supply, while Hungary will keep receiving Russian gas via the TurkStream pipeline under the Black Sea. But Transdniestria, a breakaway pro-Russian region of Ukraine’s neighbor Moldova also reliant on the transit flows, cut off heating and hot water supplies to households early on Wednesday. Local energy company Tirasteploenergo urged residents to dress warmly, hang blankets or thick curtains over windows and balcony doors, and use electric heaters.

    The European Commission said the EU had prepared for the cut-off.

    Russia and the former Soviet Union spent half a century building up a major share of the European gas market, which at its peak stood at around 35%.

    But the EU has slashed its dependence on Russian energy since the start of the war in Ukraine by buying more piped gas from Norway and LNG from Qatar and the United States.

    “The European gas infrastructure is flexible enough to provide gas of non-Russian origin,” a spokesperson for the Commission said. “It has been reinforced with significant new LNG (liquefied natural gas) import capacities since 2022.”

    The biggest beneficiary of said LNG imports is, of course, the US which has seen its LNG exports to Europe soar since the Ukraine war and since the US blew up the Nordstream pipeline, making (expensive) US sourced LNG one of the few realistic alternatives for Europe. In other words, Europe has gone from relying entirely on cheap Russian gas to relying entirely on expensive US LNG.

    Source: EIA

    Ukraine, which refused to extend the transit deal under pressure from the vegetable in the White House (whose son was recently pardoned for any crimes starting around the time Hunter Biden was appointed to the board of Ukraine’s energy giant Burisma), said Europe had already made the decision to abandon Russian gas.

    Combined pipeline routes from Russia delivered a record high 201 billion cubic metres (bcm) of gas to Europe in 2018. The number however ground to a halt after the Ukraine war; the Nord Stream route across the Baltic Sea to Germany was blown up by the US in 2022 and the Yamal-Europe pipeline via Belarus has also shut. Russia shipped about 15 bcm of gas via Ukraine in 2023, down from 65 bcm when the last five-year contract began in 2020.

    “We stopped the transit of Russian gas. This is a historic event. Russia is losing its markets, it will suffer financial losses,” Ukraine’s Energy Minister German Galushchenko said in a statement.

    While Ukraine’s propaganda is understandable – Russia long ago found alternative end markets – nobody will suffer as much as Germany.

    As Bloomberg’s Stephen Stapczynski wrote, “Cheap Russian gas was the backbone of some European economies for essentially half a century. That’s now ending. And Europe is set to face higher-for-longer gas prices.” One needs only to look at the ongoing collapse of Germany’s economy to observe this in real time.

    And some more context from the Bloomberg analyst who writes that Russia provided half of Germany’s gas in 2021. It’s now zero, and so “due in part to the loss of Russian energy and other factors, Germany’s economy is 5% smaller than it would have been if the pre-pandemic growth trend had been maintained.”

    Ukraine, of course, is also a loser: the country that has become a deep state testing bed for World War 3, will lose up to $1 billion a year in transit fees from Russia. To help offset the impact, it will quadruple gas transmission tariffs for domestic consumers from Wednesday, which could cost the country’s industry more than 1.6 billion hryvnias ($38.2 million) a year.

    The company halted supply to Austria’s OMV in mid-November over a contractual dispute but in recent weeks Russian gas has been reaching Austria via Slovakia at a rate of around 200 gigawatt hours (GWh) per day. For Jan. 1, only about 7 GWh per day is expected to flow from Slovakia to Austria, Austrian energy regulator E-Control said.

    Slovakia’s main gas buyer SPP said it would supply its customers mainly via pipelines from Germany and also Hungary, but would face additional transit costs.

    Tyler Durden
    Wed, 01/01/2025 – 12:15

  • Gold In 2025? Tragically Predictable
    Gold In 2025? Tragically Predictable

    Authored by Matthew Piepenburg via VonGreyerz.gold,

    Another year is ending, which means it’s time to look back in order to better look forward.

    For 2025, I see no other realistic option or scenario ahead other than a weaker dollar and rising gold.

    This is not “selling my book,” it’s just a common-sense approach to the realities of history, debt markets and the signals of my often-repeated mantra that can’t be repeated enough, namely: “The bond market is the thing.”

    Below, we see why.

    To some, of course, the bond market is boring, but let’s keep it simple, because if you understand government debt, you see things with an almost eerie clarity.

    So, let’s start with a brief, debt-based look back.

    Looking Back

    In my year-end report for 2023, we saw the coming events of 2024 fairly clearly.

    This was not the result of genius or tarot cards, but just a blunt understanding of debt.

    Predictable Rate Cuts

    I said Powell would cut rates in 2024. He did precisely that. How did I know? Did Powell tell me so?

    No, the bond market did.

    Predictably Failed War on Inflation

    Powell cut rates in 2024 because Uncle Sam (then at $34T in debt) would not and could not afford his failed yet admittedly dis-inflationary “higher for longer” rate policy to “beat” inflation—which I said he would never beat, and he never did.

    Period.

    Instead, Powell just took the CPI down in 2023 by gutting the middle class with a rate-hike-driven and hence demand-killing (dis-inflationary) recession that he then refused to call a recession.

    Predictable Recession Forces

    But I said the US would not be entering a recession in 2024, because it was ALREADY in a recession—and gave every proof of the same—from the blunt math of the Conference Board of Leading Indicators to the Oliver Anthony Indicator.

    Predictable Bond Dumping

    As for US government bonds, I said the world would dump rather than buy them, which is precisely what they’ve been doing all year—with its traditional best buyers (China and Japan) leading the way.

    Again, was this psychic genius?

    Hardly.

    It was just accepting the fact that the rest of the world no longer loves a weaponized IOU from an indebted issuer of bonds with a finite duration yet infinite supply.

    Predictable Gold Spike

    Instead, I said the smart investors, nations and central banks of 2024 would choose gold (a finite asset of infinite duration) as a far superior reserve asset than the UST (in infinite asset of finite duration).

    This, I said, would send gold (“the brightest star on the tree”) much higher.

    And that’s precisely what gold did in 2024—hitting record nominal highs in all currencies, including the USD.

    Predictable Stock Bubble

    I also said the unavoidable rate cuts to come would take the already grossly over-valued S&P higher in 2024, which is, again precisely what followed.

    I saw this not because of “insider knowledge” or brilliant market instincts, but sadly (and simply) because I knew that today’s pathetically centralized markets are as predictable as Pavlov’s dogs: They go up when the Fed is dovish (2024) and down when the Fed is hawkish (2022).

    In short, in that year-end article as well as subsequent early-year interviews, I had to plug my nose while simultaneously announcing “Risk on!”

    So, there we/you have it, when looking ahead into 2024 at the end of 2023, we could see with a common-sense understanding of debt and bond market forces that: 1) the Fed would cut rates, 2) the inflation war would be lost, 3) a recession was in hand, 4) nations would dump unloved USTs, and 5) gold would rise on central bank buying and 6) the stock bubble would fatten.

    Again, see this date-stamped “psychic power” for yourselves.

    Looking Forward

    Which brings us now to the year ahead. 2025.

    Once again, we need no crystal balls, direct lines to Wall Street insiders or romantic dinners with Jerome Powell to see the direction of market forces, economic realities or gold’s now secular direction.

    Instead, we only need to understand the debt market, because, and I’ll say it again: The bond market is the thing.

    Debt Rising, As Predicted…

    When I wrote last year’s “year-ahead” report, US public debt was $34T.

    As of now (and as expected), this appalling number is comfortably racing past $37T as Uncle Sam continues its fantasy (debt addiction) of spending far more than it takes in via tax receipts or GDP.

    Such debt numbers, in the backdrop of an embarrassingly fat $130T global bond market, makes things, well, predictable…

    History Rhymes—Weaker Dollar Predictable…

    History, I say over and over, is far more instructive and honest than politicos, pundits, bankers and market makers.

    And history confirms, without exception, that all debt-soaked nations (and power-hungry leaders) inevitably face a moment of reckoning when the only way to “solve” its self-created debt crisis (usually by excessive spending and grotesque military over-reach) is via the frog-boil debasement of the currency by which its citizens otherwise measure their wealth.

    This, of course, is bad for long-term bond holders, paper currency savers and those who misunderstand the difference between nominal and real (inflation-adjusted) returns—i.e., those who refuse to see what history makes clear, namely: Debt Destroys Nations.

    On the other hand, history is very kind to gold, and regardless of whether its spot price goes up or down in a period of months or quarters, it’s longer-term direction will go higher, much, much higher.

    Why?

    Let’s dig in…

    The Fed’s Real Mandate: The Bond Market

    When an unconstitutional central bank (created by a cabal of global bankers with a penchant for just embarrassing self-interest) becomes the unofficial fourth branch of government, you can be sure its real motives are not “employment and inflation” efficiency.

    The Fed’s real motive is banks, bankers, power and credit management.

    Or stated even more simply, the Fed’s real mandate is making sure the bond market, the rotten debt wind beneath our economic wings, does not die.

    The Fed’s Real Poison: Currency Debasement

    But how does a central bank keep its sovereign bond market alive, if less and less nations and investors trust or want those bonds, given the nation’s embarrassing bar tab?

    Well, it’s simple: The central bank can mouse-click its own inflationary money out of thin air to pay for its debt sins.

    It does this by magically printing trillions to buy its own unwanted bonds in order to keep bond yields down, because rising bond yields are the actual rates by which Uncle Sam must otherwise pay his criminally negligent debt.

    If you understand this, you understand more than most.

    And at current (fatal and unsustainable) debt levels, it is literally a matter of national survival to keep those yields compressed, which means it’s literally a matter of national survival to expand (i.e. debase) the M2 money supply to “inflate away” a now undeniable debt crisis.

    In other words, the bond market is “saved” at the expense of the purchasing power of the currency.

    Or even more to the point, those in power stay in power at the expense of their citizens’ wealth, as inflation is nothing more than an invisible tax.

    In short, and regardless of the DXY’s “relative strength,” 2025 will see a weaker dollar in order to monetize its debts and make a slow but needed dent in its 125% debt/GDP ratio.

    It’s just that, well predictable…

    And since gold is nature’s physical money rather than Powell’s paper money, its natural direction north is equally predictable.

    Trump: Making the Dollar Weak Again

    Trump wants a weaker dollar. Jake Sullivan wants a weaker dollar. Heck, Yellen has been wanting a weaker dollar even while Powell was taking it higher during his failed 2022-23 “higher for longer” ruse-war against inflation.

    Yet the DXY has been climbing since his election.

    Can the dollar be saved? Is the dollar stronger than the Fed, the US Treasury Department or the White House?

    Well, yes and no.

    Realpolitik & Who’s Really in Charge in DC?

    If one starts with what I believe is the correct premise that a currency will always be sacrificed to save the politically essential debt market, then its fairly safe to assume the USD will be no exception.

    The only question today is who really has the power in DC to sacrifice the greenback?

    Even the most true-blue democrat has to at least wonder out loud if Biden was ever really in charge of any policy or decision in the last four years.

    The fatal decision, for example, to weaponize the UST/USD during the Putin sanctions (love or hate him) was undoubtedly a decision directed by the Department of Defense and the ever more powerful, bloated and centralized (but not so intelligent) intel circles of the “swamp.”

    As Eisenhower so wisely warned in hisfarewell address, the military industrial complex has become more powerful than the democratic principles of our founding fathers, and thus it’s hard to imagine any significant cuts in military spending or military “freedom spreading.”

    But as I recently wrote at some length, when a nation’s interest expense exceeds its military budget, that nation is ipso facto in open decline.

    Given that debt levels and deficit spending are skyrocketing at the same time war drums and military spending is doing the same, it doesn’t require psychic powers to predict more war spending ahead, and hence more currency debasement to pay for it.

    What About DOGE?

    Whatever one thinks about Vivek, Trump or Musk, they are quite unlikely to ignore their promise to pink-slip large swaths of government jobs and bureaucratic over-spending in DC, ushering in possibly as much as $2T in otherwise needed spending cuts in the next 2 years.

    Ok, fine. Spending cuts help reduce the deficit to GDP cancer.

    But let’s not forget that 25% of US GDP comes from the Federal government.

    If DOGE starts killing jobs in DC, that’s a bullet to the head of GDP and a lot of unemployed workers with mortgages and car loans sliding into an over-levered nation.

    The Only Option is a Weaker Dollar

    In other words, spending cuts are gonna be expensive.

    They’re also gonna be inflationary. And more to the point, they’re gonna kill GDP, which means deficits will go up rather than down if DOGE gets into full gear with too strong a dollar.

    Stated more simply: The risks and costs associated, ironically, with cutting spending, will only succeed if the USD is weaker rather than stronger when the pink slips start flying.

    And what better way to weaken the USD then stapling interest rates to zero while simultaneously printing money to the moon?

    That, as I see it today, is the only card DOGE and the new administration has to play going forward.

    Anything less than a weaker dollar will kill any chance of Trump avoiding a lame duck status within his first 2 years, and Trump hates to be, well lame…

    But regardless of who is in the White House, the Fed, the Department of Treasury or the dark halls of the Department of Defense, the realities of math and history tell us all we need to know.

    Tragic Lessons, Tragic Predictions

    Again, and without exception, EVERY debt-soaked nation, empire and regime throughout history has been forced to debase its money and gut-punch its people in order to save its crown.

    Oh, and go to war…

    And that is where the USA and USD stands today: Out of options other than a debased currency.

    DC can cut spending, yes, but it can’t cut enough to put a dent that matters without expanding its money supply and debasing its purchasing power.

    It’s as tragically simple now as “inflate or die,” and sadly, gold therefore has nowhere to go but up simply because paper money has no choice but to go down.

    Tyler Durden
    Wed, 01/01/2025 – 11:40

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  • Civic Education: The Phoenix Arises
    Civic Education: The Phoenix Arises

    Authored by Jack Miller & Michael Poliakoff via RealClearEducation,

    The study of American history and government is undergoing an unprecedented renewal, akin to the phoenix – a mythical bird that is reborn by rising from the ashes of its predecessor.

    Major universities have recently launched independent institutes, sometimes called “schools of civic thought,” dedicated to the in-depth exploration of an American political tradition that goes beyond partisan politics. These institutes have independent hiring authority and significant state funding.

    So far about a dozen civic institutes have sprung up, from Arizona, Texas, and Florida to Tennessee, North Carolina, and Ohio – and others will be founded soon. They not only serve college students, but many also help K-12 teachers learn how to teach American history and government more effectively. Their mission is broad, with wide public programming.

    In America, we have the privilege of living in a democratic republic, arguably the greatest the world has known. Citizens can engage in politics, persuade their fellow citizens, and effect real change. Our history offers many such examples.

    It is all the more tragic and dangerous, then, that many students know so little about our history and institutions. They feel powerless and disaffected.

    Too often, instead of engaging with America’s founding principles and history, students hear about the supposed oppressiveness of Western civilization and the American “slavocracy,” with dogmatic teaching of oppressor-oppressed ideas. Our students are frequently taught to believe the worst of our nation and its people.

    By contrast, these new institutes endeavor to tell the complete American story – its warts but also its promise to give freedom and opportunity to all. They highlight our long and torturous journey to get ever closer to achieving the vision in our Declaration of Independence – that all men are created equal and are entitled to life, liberty, and the pursuit of happiness.

    This phoenix-like story has been long in preparation at the Jack Miller Center for Teaching America’s Founding Principles and History (JMC). Over 1,200 professors working in the academy today have been a part of the JMC network, writing and teaching about the American political tradition. This network has transformed a struggling subfield into a strong, competitive discipline and created a talent pool of faculty to support this movement’s rapid growth.

    The pipeline for a new generation of classroom leaders was started 20 years ago when JMC began its program of summer institutes for young postdocs and professors. Now these professors operate at institutions of all types. Seven of the eight Ivy League schools have partnered with JMC, as have 18 state universities, along with many liberal arts and religious colleges.

    Over 300 JMC-supported programs enrich the academic lives of students, providing guest speakers, fellowships, courses, and a chance to interact with dedicated faculty who are outside of the stale, progressive academic mainstream.

    The Center for American Studies at Christopher Newport University is an example of this transformational work. Begun in 2007 with JMC’s assistance, it has grown to be a major force on campus. Co-directed by Professors Elizabeth and Nathan Busch, it has a full-time faculty of six who mentor many undergraduate students. The Center has brought to campus distinguished scholars and public officials, including the late Supreme Court Justice Antonin Scalia, Jonathan Turley, John Yoo, and William J. Perry, for presentations to the university community.

    The American Council of Trustees and Alumni (ACTA) works alongside JMC to promote the formation of new independent institutes. ACTA has redoubled its efforts to ensure that all undergraduates pass a required course that covers core American founding principles.

    For 30 years, ACTA has warned of the cost of higher education’s malfeasance. In 2000, its extensive survey of students at the 50 most elite colleges and universities revealed a shocking level of historical and civic ignorance. ACTA’s survey report, “Losing America’s Memory,” led to a joint, unanimous resolution passed by Congress that called for improving the civic knowledge of college students.

    ACTA’s 2024 survey that polled 3,000 college students shows that we must redouble our efforts.

    Our work so far has helped South Carolina adopt the REACH Act. Since 2021, all of the state’s public universities require a course in which students study the key documents and moments in our nation’s story.

    The new institutes of civic education, which began at Arizona State University in 2017, have now expanded into eight states on 13 campuses. Most recently, Ohio passed legislation that has already led to new institutes being set up at its five public universities. The goal is to expand civic education programs into many more states.

    ACTA’s National Commission on American History and Civic Education is convening 24 of America’s most distinguished scholars, thought leaders, and educators to produce a white paper on the urgency of restoring the undergraduate requirement in American history and government at every college and university in the nation. The white paper will provide guidance on the scope of that course and how trustees and legislators can make America’s civic rebirth a reality. An anthology of essays, “American History and Government: What Every College Student Should Know,” will enhance the national conversation.

    The new civic institutes will re-engage students with America’s story of freedom and opportunity for all. The joint contribution of JMC and ACTA, made alongside other civic-minded organizations, private and public, will renew students’ understanding of our nation as the land of the free. This is how Americans can mend our flaws and face the challenges of the future together.

    Tyler Durden
    Tue, 12/31/2024 – 23:15

  • Champagne Champions: US Tops UK As World's Biggest Bubbly Buyer
    Champagne Champions: US Tops UK As World’s Biggest Bubbly Buyer

    Amid Christmas and New Year’s celebrations, many people stocked up on their favorite drinks.

    And what better way to toast on a special occasion than opening a bottle of champagne, one of France’s proudest exports.

    As Statista’s Felix Richter shows in the chart below, the United States and the UK are particularly fond of the exclusive sparkling wine from the Champagne region, having imported 26.9 and 25.5 million bottles in 2023, respectively.

    Infographic: Champagne Champions | Statista

    You will find more infographics at Statista

    As our chart, based on data by the trade association Comité Champagne, shows, five of the eight largest international markets for champagne are located in Europe.

    This is not to say that other countries don’t enjoy sparkling wine, but the numbers given here only refer to the higher-priced, regionally-produced drink from the French region of Champagne.

    The area was officially designated in 1927 and is home to winemakers like Veuve Clicquot, Moët & Chandon and Krug.

    While champagne makes up less than 10 percent of global sparkling wine consumption, it accounts for 35 percent of the market value, generated with only 0.5 percent of the world’s total vineyard area.

    Overall, champagne exports from France amounted to roughly $4.4 billion in 2023, with the U.S. alone importing almost $1 billion worth of the prestigious bubbly.

    Tyler Durden
    Tue, 12/31/2024 – 22:30

  • Engineering Reality: A Century Of Cultural Control, Part III – The Algorithmic Age
    Engineering Reality: A Century Of Cultural Control, Part III – The Algorithmic Age

    Authored by Joshua Stylman via substack,

    A Century of Cultural Control From Edison’s Monopolies to Algorithmic Manipulation

    Author’s Note: For years, I understood advertising was designed to manipulate behavior. As someone who studied the mechanics of marketing, I considered myself an educated consumer who could navigate rational market choices. What I didn’t grasp was how this same psychological architecture shaped every aspect of our cultural landscape. This investigation began as curiosity about the music industry’s ties to intelligence agencies. It evolved into a comprehensive examination of how power structures systematically mold public consciousness.

    What I discovered showed me that even my most cynical assumptions about manufactured culture barely scratched the surface. This revelation has fundamentally altered not just my worldview, but my relationships with those who either cannot or choose not to examine these mechanisms of control. This piece aims to make visible what many sense but cannot fully articulate – to help others see these hidden systems of influence. Because recognizing manipulation is the first step toward resisting it.

    This investigation unfolds in three parts: In Part One, we examined the foundational systems of control established in the early 20th century. In Part Two, we explored how these methods evolved through popular culture and counterculture movements. Finally, in Part Three below, we’ll see how these techniques have been automated and perfected through digital systems.

    The Algorithmic Age

    Having explored the physical and psychological mechanisms of control in Part One, and their deployment through cultural engineering in Part Two, we now turn to their ultimate evolution: the automation of consciousness control through digital systems.

    In my research on the tech-industrial complex, I’ve documented how today’s digital giants weren’t simply co-opted by power structures – many were potentially designed from their inception as tools for mass surveillance and social control. From Google’s origins in a DARPA-funded CIA project to Amazon’s founder’s familial ties to ARPA, these weren’t just successful startups that later aligned with government interests

    What Tavistock discovered through years of careful study—emotional resonance trumps facts, peer influence outweighs authority, and indirect manipulation succeeds where direct propaganda fails—now forms the foundational logic of social media algorithms. Facebook’s emotion manipulation study and Netflix’s A/B testing of thumbnails (explored in detail later) exemplify the digital automation of these century-old insights, as AI systems perform billions of real-time experiments, continuously refining the art of influence at an unprecedented scale.

    Just as Laurel Canyon served as a physical space for steering culture, today’s digital platforms function as virtual laboratories for consciousness control—reaching further and operating with far greater precision. Social media platforms have scaled these principles through ‘influencer’ amplification and engagement metrics. The discovery that indirect influence outperforms direct propaganda now shapes how platforms subtly adjust content visibility. What once required years of meticulous psychological study can now be tested and optimized in real time, with algorithms leveraging billions of interactions to perfect their methods of influence.

    The manipulation of music reflects a broader evolution in cultural control: what began with localized programming, like Laurel Canyon’s experiments in counterculture, has now transitioned into global, algorithmically-driven systems. These digital tools automate the same mechanisms, shaping consciousness on an unprecedented scale

    Netflix’s approach parallels Bernays’ manipulation principles in digital form – perhaps unsurprisingly, as co-founder Marc Bernays Randolph was Edward Bernays’ great-nephew and Sigmund Freud’s great-grand-nephew. Where Bernays used focus groups to test messaging, Netflix conducts massive A/B testing of thumbnails and titles, showing different images to different users based on their psychological profiles. Their recommendation algorithm doesn’t just suggest content – it shapes viewing patterns by controlling visibility and context, and context, similar to how Bernays orchestrated comprehensive promotional campaigns that shaped public perception through multiple channels. Just as Bernays understood how to create the perfect environment to sell products – like promoting music rooms in homes to sell pianos – Netflix crafts personalized interfaces that guide viewers toward specific content choices. Their approach to original content production similarly relies on analyzing mass psychological data to craft narratives for specific demographic segments.

    More insidiously, Netflix’s content strategy actively shapes social consciousness through selective promotion and burial of content. While films supporting establishment narratives receive prominent placement, documentaries questioning official accounts often find themselves buried in the platform’s least-visible categories or excluded from recommendation algorithms entirely. Even successful films like What Is a Woman? faced systematic suppression across multiple platforms, demonstrating how digital gatekeepers can effectively erase challenging perspectives while maintaining the illusion of open access.

    I experienced this censorship firsthand. I was fortunate enough to serve as a producer for Anecdotals, directed by Jennifer Sharp, a film documenting COVID-19 vaccine injuries, including her own. YouTube removed it on day one, claiming individuals couldn’t discuss their own vaccine experiences. Only after Senator Ron Johnson’s intervention was the film reinstated—a telling example of how platform censorship silences personal narratives that challenge official accounts.

    This gatekeeping extends across the digital landscape. By controlling which documentaries appear prominently, which foreign films reach American audiences, and which perspectives get highlighted in their original programming, platforms like Netflix act as cultural gatekeepers – just as Bernays managed public perception for his corporate clients. Where earlier systems relied on human gatekeepers to shape culture, streaming platforms use data analytics and recommendation algorithms to automate the steering of consciousness. The platform’s content strategy and promotion systems represent Bernays’ principles of psychological manipulation operating at unprecedented scale.

    Reality TV: Engineering the Self

    Before social media turned billions into their own content creators, Reality TV perfected the template for self-commodification. The Kardashians exemplified this transition: transforming from reality TV stars into digital-age influencers, they showed how to convert personal authenticity into a marketable brand. Their show didn’t just reshape societal norms around wealth and consumption – it provided a masterclass in abandoning genuine human experience for carefully curated performance. Audiences learned that being oneself was less valuable than becoming a brand, that authentic moments mattered less than engineered content, that real relationships were secondary to networked influence.

    This transformation from person to persona would reach its apex with social media, where billions now willingly participate in their own behavioral modification. Users learn to suppress authentic expression in favor of algorithmic rewards, to filter genuine experience through the lens of potential content, to value themselves not by internal measures but through metrics of likes and shares. What Reality TV pioneered – the voluntary surrender of privacy, the replacement of authentic self with marketable image, the transformation of life into content – social media would democratize at global scale. Now anyone could become their own reality show, trading authenticity for engagement.

    Instagram epitomizes this transformation, training users to view their lives as content to be curated, their experiences as photo opportunities, their memories as stories to be shared with the public. The platform’s ‘influencer’ economy turns authentic moments into marketing opportunities, teaching users to modify their actual behavior – where they go, what they eat, how they dress – to create content that algorithms will reward. This isn’t just sharing life online – it’s reshaping life itself to serve the digital marketplace.

    Even as these systems grow more pervasive, their limits are becoming increasingly visible. The same tools that enable manipulating cultural currents also reveal its fragility, as audiences begin to challenge manipulative narratives.

    Cracks in the System

    Despite its sophistication, the system of control is beginning to show cracks. Increasingly, the public is pushing back against blatant attempts at cultural engineering, as evidenced by current consumer and electoral rejections.

    Recent attempts at obvious cultural exploitation, such as corporate marketing campaigns and celebrity-driven narratives, have begun to fail, signaling a turning point in public tolerance for manipulation. When Bud Light and Target – companies with their own deep establishment connections – faced massive consumer backlash in 2023 over their social messaging campaigns, the speed and scale of the rejection marked a significant shift in consumer behavior. Major investment firms like BlackRock faced unprecedented pushback against ESG initiatives, seeing significant outflows which forced them to recalibrate their approach. Even celebrity influence lost its power to shape public opinion – when dozens of A-list celebrities united behind one candidate in the 2024 election, their coordinated endorsements not only failed to sway voters but may have backfired, suggesting a growing public fatigue with manufactured consensus.

    The public is increasingly recognizing these manipulation patterns. When viral videos expose dozens of news anchors reading identical scripts about ‘threats to our democracy,’ the facade of independent journalism crumbles, revealing the continued operation of systematic narrative control. Legacy media’s authority is crumbling, with frequent exposures of staged narratives and misrepresented sources revealing the persistence of centralized messaging systems.

    Even the fact-checking industry, designed to bolster official narratives, faces growing skepticism as people discover these ‘independent’ arbiters of truth are often funded by the very power structures they claim to monitor. The supposed guardians of truth serve instead as enforcers of acceptable thought, their funding trails leading directly to the organizations they’re meant to oversee.

    The public awakening extends beyond corporate messaging to a broader realization that supposedly organic social changes are often engineered. For example, while most people only became aware of the Tavistock Institute through recent controversies about gender-affirming care, their reaction hints at a deeper realization: that cultural shifts long accepted as natural evolution might instead have institutional authors. Though few still understand Tavistock’s historic role in shaping culture since our grandparents’ time, a growing number of people are questioning whether seemingly spontaneous social transformations may have been, in fact, deliberately orchestrated.

    This growing recognition signals a fundamental shift: as audiences become more conscious of manipulation methods, the effectiveness of these control systems begins to diminish. Yet the system is designed to provoke intense emotional responses – the more outrageous the better – precisely to prevent critical analysis. By keeping the public in a constant state of reactionary outrage, whether defending or attacking figures like Trump or Musk, it successfully distracts from examining the underlying power structures these figures operate within. The heightened emotional state serves as a perfect shield against rational inquiry.

    Before examining today’s digital control mechanisms in detail, the evolution from Edison’s hardware monopolies to Tavistock’s psychological operations to today’s algorithmic control systems reveals more than a natural historical progression – it shows how each stage intentionally built upon the last to achieve the same goal. Physical control of media distribution evolved into psychological manipulation of content, which has now been automated through digital systems. As AI systems become more sophisticated, they don’t just automate these control mechanisms – they perfect them, learning and adapting in real-time across billions of interactions. We can visualize how distinct domains of power – finance, media, intelligence, and culture – have converged into an integrated grid of social control. While these systems initially operated independently, they now function as a unified network, each reinforcing and amplifying the others. This framework, refined over a century, reaches its ultimate expression in the digital age, where algorithms automate what once required elaborate coordination between human authorities.

    The Digital Endgame

    Today’s digital platforms represent the culmination of control methods developed over the past century. Where their researchers once had to manually study group dynamics and psychological responses, AI systems now perform billions of real-time experiments, continuously refining their influence techniques through massive data analysis and behavioral tracking. What Thomas Edison achieved through physical control of films, modern tech companies now accomplish through algorithms and automated content moderation.

    The convergence of surveillance, algorithms, and financial systems represents not just an evolution in technique but an escalation in scope. This convergence appears by design. Consider that Facebook launched the same day DARPA shut down ‘LifeLog,‘ their project to track a person’s ‘entire existence’ online. Or that major tech platforms now employ numerous former intelligence operatives in their ‘Trust & Safety’ teams, determining what content gets amplified or suppressed.

    Social media platforms capture detailed behavioral data, which algorithms analyze to predict and shape user actions. This data increasingly feeds into financial systems through credit scoring, targeted advertising, and emerging Central Bank Digital Currencies (CBDCs). Together, these create a closed loop where surveillance refines targeting, shapes economic incentives, and enforces compliance with dominant order norms at the most granular level.

    This evolution manifests in concrete ways:

    • Edison’s infrastructure monopoly became platform ownership

    • Tavistock’s psychology studies became social media algorithms

    • Operation Mockingbird’s media infiltration became automated content moderation

    • The Hays Code’s moral controls became ‘community guidelines

    More specifically, Edison’s original blueprint for control evolved into digital form:

    • His control of production equipment became platform ownership and cloud infrastructure

    • Theater distribution control became algorithmic visibility

    • Patent enforcement became Terms of Service

    • Financial blacklisting became demonetization

    • His definition of ‘authorized’ content became ‘community standards'”

    Edison’s patent monopoly allowed him to dictate which films could be shown and where – just as today’s tech platforms use Terms of Service, IP rights, and algorithmic visibility to determine what content reaches audiences. Where Edison could simply deny theaters access to films, modern platforms can quietly reduce visibility through “shadow banning” or demonetization.

    This evolution from manual to algorithmic control reflects a century of refinement. Where the Hays Code explicitly banned content, AI systems now subtly deprioritize it. Where Operation Mockingbird required human editors, recommendation algorithms now automatically shape information flow. The mechanisms haven’t disappeared—they’ve become invisible, automated, and far more effective.

    The COVID-19 pandemic demonstrated how thoroughly and quickly modern control systems could manufacture consensus and enforce compliance. Within weeks, established scientific principles about natural immunity, outdoor transmission, and focused protection were replaced by a new orthodoxy. Social media algorithms were programmed to amplify fear-based content while suppressing alternative viewpoints, while news outlets coordinated messaging to maintain narrative control, and financial pressures ensured institutional compliance. Just as Rockefeller’s early capture of medical institutions shaped the boundaries of acceptable knowledge a century ago, the pandemic response demonstrated how thoroughly this system could activate in a crisis. The same mechanisms that once defined ‘scientific’ versus ‘alternative’ medicine now determined which public health approaches could be discussed and which would be systematically suppressed.

    The Great Barrington Declaration scientists found themselves erased not just through typical censorship, but through the invisible hand of algorithmic suppression – their views buried in search results, their discussions flagged as misinformation, their professional reputations questioned by coordinated media campaigns. This trifecta of suppression rendered dissenting perspectives effectively invisible, demonstrating how modern platforms can converge with state power to erase opposition while maintaining the illusion of independent oversight. Most users never realize what they’re not seeing – the most effective censorship is invisible to its targets.

    Elon Musk’s acquisition of Twitter offered a crack of light, exposing previously hidden practices like shadow banning and algorithmic content suppression through the release of the Twitter Files. These revelations demonstrated how thoroughly platforms had integrated government influence into their moderation policies – whether through direct pressure or voluntary compliance – erasing dissent under the guise of maintaining community standards.’ Yet even Musk acknowledged the limits of free expression within this framework, stating that ‘freedom of speech doesn’t mean freedom of reach.’ This admission underscores the enduring reality: even under new leadership, platforms remain bound by the algorithms and incentives that shape visibility, influence, and economic viability.

    Perhaps the ultimate expression of this evolution is the proposed introduction of Central Bank Digital Currencies (CBDCs), which transform social control mechanisms into financial infrastructure. The merger of ESG metrics with digital currency creates unprecedented granular control – every purchase, every transaction, every economic choice becomes subject to automated social compliance scoring. This fusion of financial surveillance with behavioral control represents the ultimate expression of the control systems that began with Edison’s physical monopolies. By embedding surveillance into currency itself, governments and corporations gain the ability to monitor, restrict, and manipulate transactions based on compliance with official criteria – from carbon usage limits to diversity metrics to social credit scores. These systems could render dissent not just punishable, but economically impossible—restricting access to basic necessities like food, housing, and transportation for those who fail to comply with approved behaviors.

    What began with Tavistock’s careful study of mass psychology, tested through Facebook’s crude emotion experiments, and perfected through modern algorithmic systems, represents more than a century of evolving social control. Each stage built upon the last: from physical monopolies to psychological manipulation to digital automation. Today’s social media platforms don’t just study human behavior – they shape it algorithmically, automating mass psychological manipulation through billions of daily interactions.

    Unplugging from the Matrix: A Path Back to Reality

    Understanding these systems is the first step toward liberation. As the machinery of control reaches its peak, so too does the opportunity for resistance. The endgame for centralized power presents a paradox: the same systems designed to limit freedom also expose their own vulnerabilities.

    While the evolution from Edison’s physical monopolies to today’s invisible algorithmic controls may feel overwhelming, it reveals a crucial truth: these mechanisms are constructed—and what is constructed can be dismantled or circumvented.

    We can already see glimmers of resistance. As I’ve observed in my investigation of Big Tech’s origins, people are increasingly demanding transparency and authenticity – and once they see these control systems, they don’t unsee them. Public backlash against obvious ideological sculpting—from corporate virtue-signaling campaigns to platform censorship—suggests an awakening to these methods of control. The public rejection of corporate news networks in favor of independent journalism, the mass exodus from manipulative social media platforms to decentralized alternatives, and the growing movement toward local community building all demonstrate how awareness leads to action. The rise of platforms committed to free speech, even within centralized systems, shows that alternatives to algorithmic manipulation are possible. By championing transparency, reducing reliance on automated content moderation, and supporting the open exchange of ideas, these platforms challenge the status quo and push back against the dominance of centralized narratives. Building on these principles, truly decentralized networks represent our best hope for resistance: by eliminating gatekeepers entirely, they offer the greatest potential to counter hierarchical control and empower authentic expression.

    The battle for freedom of consciousness is now our most fundamental struggle. Without it, we are not autonomous actors but non-player characters (NPCs) in someone else’s game, making seemingly free choices within carefully constructed parameters. Each time we question an algorithmic recommendation or seek out independent voices, we crack the control matrix. When we build in person local communities and support decentralized platforms, we create spaces beyond algorithmic manipulation. These aren’t just acts of resistance – they’re steps toward reclaiming our autonomy as conscious human actors rather than programmed NPCs.

    The choice between authentic consciousness and programmed behavior requires daily discernment. We can passively consume curated content or actively seek diverse perspectives. We can accept algorithmic suggestions or consciously choose our information sources. We can isolate ourselves in digital bubbles or build real-world communities of resistance.

    Our liberation begins with recognition: these systems of control, though powerful, are not inevitable. They were constructed, and they can be dismantled. By embracing creativity, fostering authentic connection, and restoring our sovereignty, we don’t just resist the control matrix – we reclaim our fundamental right to author our own destiny. The future belongs to those aware enough to see the system, brave enough to reject it, and creative enough to build something better.

    Tyler Durden
    Tue, 12/31/2024 – 21:45

  • Pentagon Launches Fresh Assault On Houthis In Yemen Ahead Of 2025
    Pentagon Launches Fresh Assault On Houthis In Yemen Ahead Of 2025

    The war in Yemen and the Red Sea continues to intensify, following several ballistic missiles launched on Israel by the Iran-backed Houthis last week and this month. The pattern is that for whatever the Western coalition throws at the Houthis in terms of bombing raids, the militant group only intensifies its assaults.

    The Pentagon announced Tuesday that forces under US Central Command (CENTCOM) have launched fresh attacks on Yemen after the Houthi militants targeted American warships and commercial ships earlier the same day.

    US Navy/AP

    US Navy ships and aircraft conduced the new attacks, striking Houthi-controlled coastal regions of Yemen, according to the CENTCOM statement.

    American warplanes had destroyed “seven cruise missiles and one-way attack UAVs over the Red Sea,” the statement continued. “There were no injuries or damage to U.S. personnel or equipment in either incident,” it said.

    Houthi spokesman Mohammed Abdulsalam denounced the strikes as “an American aggression” and “a blatant violation of the sovereignty of an independent state and a blatant support for Israel.”

    CENTCOM has justified the new action as necessary “to degrade Iran-backed Houthi efforts to threaten regional partners and military and merchant vessels in the region.”

    Earlier on Tuesday the Houthis had also launched two more missiles at Israel. These direct attacks on Israel out of Yemen are coming almost daily at this point, and Israeli forces have also stepped up aerial attacks on Yemen in coordination with the Western coalition in the Red Sea.

    Just days ago, on Thursday, Israel conducted some of the largest attacks on Yemen to date, hitting the international airport in Sanaa and other facilities. 

    But the Houthis have clearly remained undeterred. Short of a full-scale ground invasion, these Western coalition aerial attacks are unlikely to do anything but prolong the war, which the Houthis say is a response to the Israeli occupation of the Gaza Strip.

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

    But Prime Minister Netanyahu has also said he won’t relent. “We will continue to crush the forces of evil with strength and ingenuity, even if it takes time,” he said this past weekend after a Saturday Houthi attack incident had wounded 16 Israelis.

    “We are determined to cut off this terror arm of the Iranian axis of evil. We will persist in this until we complete the job,” the Israeli leader said, strongly suggesting a series of more attacks on Yemen to come.

    Tyler Durden
    Tue, 12/31/2024 – 21:00

  • What's Ahead For The Health Care Industry In 2025?
    What’s Ahead For The Health Care Industry In 2025?

    Authored by Panos Mourdoukoutas via The Epoch Times (emphasis ours),

    The health care industry will be at the crossroads of several trends in 2025: demographics, proposed Medicare changes, staffing constraints, AI innovations, and deregulation.

    “Why hello there young man…” (Drazen Zigic/Shutterstock)

    Demographics will determine the demand for health care services, while Medicare changes, staffing constraints, and technology will determine the supply of these services. Together, these trends will determine the quantity and quality of industry growth in the new year.

    Ben Johnston, chief operating officer of Kapitus, sees favorable demographics and innovative treatments driving health care industry growth in the new year.

    “We continue to be bullish on the health care industry as the macro forces of an aging U.S. population and new treatment innovations make health care an attractive industry in 2025 and beyond,” Johnston told The Epoch Times.

    However, he sees proposed changes to Medicare that would give the states more control of the program and proposed work requirements in exchange for coverage limiting the total number of insured, thus constraining demand for health care services.

    In addition, Johnston believes staffing shortages across the industry are exacerbated by limits on immigration, constraining the supply of health care services.

    “Reducing future legal immigration could pose a significant challenge to the industry and drive both prices and wait times higher,” he said.

    Thomas Kluz, the managing director of Venture Lab, is also concerned about staffing constraints in 2025 for different reasons.

    “The pandemic, system inefficiencies, and wage cuts continued to be a present burden on health care workers on top of their drained physical and mental health,” Kluz told The Epoch Times.

    He thinks AI technology could help ease the situation.

    “AI and automation will be key to taking some of this pressure off by reducing administrative burdens,” he said.

    For Dr. Ofer Sharon, CEO at OncoHost, the use of AI in health care and life sciences, such as machine learning and advanced image processing, will significantly drive the health care industry’s growth in the new year.

    “For instance, in drug discovery, 2025 may see the first AI-discovered or AI-designed therapeutic targets progressing to first-in-human clinical trials,” he told The Epoch Times via email.

    “At the same time, AI-powered diagnostic tools are expected to gain wider adoption in clinical settings, contributing to improved diagnostic accuracy and more personalized patient care.”

    Pradeep Kumar Jain, senior director of health care at Tredence Inc., sees care shifting to telehealth, home care, and ambulatory care, making it more accessible and focused on patients.

    “These models ensure people get timely and convenient care while improving coordination across different settings,” he told The Epoch Times via email. “Value-based care focuses on prevention rather than treatment, addressing health issues earlier.”

    Dr. Stacey Lee, a professor of health care and business law at Johns Hopkins Carey Business School and Bloomberg School of Public Health, sees the prospect of changing rules and choices in the health care industry to improve access to services and rein in costs.

    “The projected 8 percent rise in health care costs next year will force providers and patients to rethink how care is delivered and paid for,” he told The Epoch Times.

    “My work with health care organizations shows that direct primary care isn’t just another payment model—it fundamentally changes how doctors and patients work together. When we strip away layers of billing complexity, we often find that quality and efficiency improve.”

    Lee believes that the soaring health care costs will reshape the demand for and supply of health care services, with price transparency becoming a critical factor for the functioning of health care markets.

    “My research in health care negotiations shows that when patients can compare prices, it doesn’t just help them make better choices,” he said. “It changes how health care organizations compete and set their prices. The incoming administration’s emphasis on transparency could accelerate these changes.”

    If that turns out to be the case, transparency will test how well health care markets balance efficiency with patient protection.

    “In my work studying health care law, I’ve seen that successful deregulation requires understanding which rules truly protect patients and which ones just add cost without benefit,” Lee said.

    Tyler Durden
    Tue, 12/31/2024 – 20:15

  • Carlos Slim Invested $1BN In American Oil And Gas Companies In 2024
    Carlos Slim Invested $1BN In American Oil And Gas Companies In 2024

    By Alex Kimani of OilPrice.com

    Carlos Slim, Latin America’s richest man, boosted his stakes in American energy companies in the current year as the world’s leading tycoons continue betting on fossil fuels.

    Slim invested $602 million in Parsippany, New Jersey-based refiner PBF Energy, boosting his stake to 25%, and also bought $326 million worth of shares in Houston-based oil producer Talos Energy.

    Last year, the Mexican billionaire’s Grupo Carso SAB agreed to acquire PetroBal SAPI’s stake in two oil fields in Campeche in southern Mexico for $530 million, expanding its bet on energy production. 

    Under the deal, Grupo Carso will take a 50% stake in the Ichalkil and Pokoch oil field. According to the company, the fields produce about 16,350 barrels of crude oil equivalent per day. Carso shares jumped to record highs after the deal was announced. Mexican President Andres Manuel Lopez Obrador welcomed the deal despite earlier being critical of energy reforms that opened exploration to private investment,

    “Why do I celebrate this? Because it stays in the hands of Mexicans and I’m sure that they’re going to invest to extract crude. I consider that to be good news,” the president said at his daily news conference. 

    Obradors’ nationalist policies have seen the Mexican government become increasingly hostile to foreign companies.

    Last year, giant oil and commodities trading firm, Trafigura, was forced to scale back its oil trading business in Mexico thanks to shrinking margins.

    Trafigura has recorded margin compression due to fuel subsidies by the Mexican government.

    Meanwhile, Warren Buffett’s Berkshire Hathaway has continued growing its oil and gas stakes. Two weeks ago, Berkshire Hathaway bought another 8.9 million shares of Occidental Petroleum with the company now owning 260 million shares of OXY. Berkshire Hathaway’s OXY stake is currently worth $12 billion, making it the company’s sixth largest holding.

    Tyler Durden
    Tue, 12/31/2024 – 19:30

  • The Year Of Lying Dangerously
    The Year Of Lying Dangerously

    Authored by Thomas Buckley via The Point,

    Farcical falsehoods have underpinned the Biden administration from the beginning, but it all came crashing down in a TV studio in an Atlanta in late June of this year.

    The wings melted – Icarus hit the water

    The entire point of the existence of everyone around Joe had been to deny, defray, obfuscate, while simultaneously promising him personally that everything was all right.

    The staff was Daedalus to his Icarus, building him wings of wax that they knew would be kept airborne by the press…until they weren’t and he plummeted to earth.

    For it to remain in power, the Biden administration, since even before his 2021 inauguration, has required that the nation engage in a mass suspension of disbelief.

    As the viewer of a sci-fi movie must, in order for the movie to make sense, simply accept that things like warp drive and transporters exist, that suspension of disbelief gives the viewer the ability to follow the plot, to care about the characters – as long as the events and tech in the movie make internal sense, the movie can be watched, tolerated, or even enjoyed.

    But relying on the nation to keep up that suspension of disbelief forever was, obviously, doomed from the start. The administration spun more and more lies to keep up the pretense, developing into the political equivalent – both literally and figuratively – of “Battlefield Earth.”

    It was akin the “floating world” of Tokugawa Japan, a concept so beautifully summed up by poet Matsuo Bashō in this haiku:

    “Year’s end, all
    corners of this
    floating world, swept.”

    Of course, before the June debate, Biden’s minions had spun lie after lie after lie. In 2020, he didn’t campaign publicly because of covid, nothing else, and the obvious falsehoods kept on from there.

    He claimed Russiagate was real, that Donald Trump called neo-Nazis “very fine people,” he said he knew nothing of Hunter’s “business” dealings, the “vaccines” were fine, as was the crushing of personal liberty, the withdrawal from Afghanistan went off as planned despite the videos showing desperate Afghanis falling from planes, and on and on.

    Despite their protestations along the lines of “the sky is not blue,” the Biden team knew there were problems, and that, even while flightless, Joe’s wings were melting before their very eyes.

    To create one last possible glimmer of hope – and, concurrently, to give them enough time to dump him – his team scheduled the June debate as a test run of his competence; the Democrats put Biden out there just to see if he would make it.

    He didn’t and in came – over the frustrations of the people that drove Joe out – Kamala; it was supposed to be an actual astronaut, someone who had soared higher than nearly anyone else, Arizona Sen. Mark Kelly, but a bitter Joe (Jill) put the kibosh on that ASAMFP after his resignation tweet.

    He was dotty, he was un-electable, but PelosObama forgot he was still the president, and a cranky one at that and he would/could/should/did lash out at being couped aside.

    From that point on, it has been a year of lying dangerously for the administration, spinning patently absurd tales that endangered the entire the world.

    Madison Square Garden rally = nazis.

    Biden is totally backing Harris.

    An internal coup did not take place – it was just the appropriate discretion of a dozen or so people doing what they could to help the nation.

    Yes, Hunter got pardoned but that was Trump’s fault.

    There was no censorship program.

    Joe’s sharp as a tack.

    No, he didn’t have a tendency to wander away – that’s on you.

    Choco rations went up ten grams last year.

    What drones?

    Politicians have been lying since they were invented, but very few have built their entire time in office around them. Before he was elected president, Biden was a typical DC tax and spend liberal looking for a little sumthin’sumthin’ on the side. He had no core beliefs and went pretty much were the wind and the donors took him (even they wouldn’t take him to the White House, though.)

    He campaigned on normalcy, but instead brought about massive cultural upheaval and the obliteration of public trust all in the service of wildly woke ideas and proposals and policies he had never even cared about, let alone supported, before.

    Again, the entire administration was built on a series of lies from its beginning.

    But the shift to Kamala made continuing that impossible. While she essentially ran a cut-and-paste campaign (word search everything and replace “Biden” with “Harris”) when she did venture further afield – “joy,” um, finally talking to the press – on her own she spawned a new series of lies.

    The public saw Harris and thought “well, at least Joe has an excuse – he’s senile.”

    The lies got faster, more disposable, less credible, even sillier, even more insulting, and were screeched even louder by the media.

    The lying became more desperate, more dangerous and then – poof!

    The election is over and the truth the world knew all along is now starting to be admitted.

    To make sense of the past four years, Biden supporters had to suspend their disbelief, to put aside honest critical thinking in order to go for the ride – that attachment was one of the reasons why the entrenchment was so deep, so personal. Turning on the lights at last call in a bar reveals the truth, the reality of the evening and saying anything they did not want hear to progressives was like turning on the lights in the middle of a movie. Jarring, infuriating, guaranteed to end the suspension of belief.

    Well, that movie is now done, belief no longer needs to be suspended, and the year of lying dangerously is now over.

    Good riddance.

    Tyler Durden
    Tue, 12/31/2024 – 18:45

  • Geomagnetic Storm Could Bring New Year's Eve Aurora To Parts Of US
    Geomagnetic Storm Could Bring New Year’s Eve Aurora To Parts Of US

    Authored by Melanie Sun via The Epoch Times (emphasis ours),

    With solar storms causing a geomagnetic storm on Earth, the northern lights or aurora borealis could extend beyond the Arctic Circle down into the northernmost U.S. states this New Year’s Eve, according to a Dec. 31 forecast by the National Oceanic and Atmospheric Administration (NOAA).

    The northern lights flare in the sky over a farmhouse in Brunswick, Maine, on May 10, 2024. Robert F. Bukaty/AP Photo

    The moderate-strong G2-G3 geomagnetic storm, with a Kp index of 6-7, forecasted for Dec. 31 by NOAA’s Space Weather Prediction Center, means the aurora could be visible in New York and Idaho, and potentially as far south as Illinois and Oregon.

    The Kp-index measures geomagnetic activity in the Earth’s atmosphere. “For Kp in the range 6 to 7, the aurora will move even further from the poles and will become quite bright and active,” according to NOAA.

    A minor G1-level geomagnetic storm warning is also active from New Year’s Eve into Jan. 1. These storms typically produce auroras visible only from higher latitudes, in locations such as northern Michigan and Maine.

    Multiple solar flares—two X-class solar flares and 17 M-class flares—erupted on the Sun within 24 hours on Dec. 29.

    Two of the M-class flares released solar storms, or streams of electrically charged particles and plasma called coronal mass ejections (CMEs), toward Earth.

    This prompted the Space Weather Prediction Center to issue two geomagnetic storm warnings ahead of the CMEs’ arrival.

    Traveling 93 million miles, the CMEs are expected to reach Earth early in the mornings of Dec. 31 and Jan. 1.

    This is when the chance of seeing a turbo-charged aurora will be best.

    The aurora, known as the northern lights (aurora borealis) or southern lights (aurora australis), occurs when charged particles released by the Sun during flares arrive at Earth. These particles are directed by Earth’s protective magnetosphere toward the poles, where they collide with gases in the atmosphere. This interaction releases excess energy as colorful glows of light, visible as the aurora.

    The stronger the solar flare, the more energy arrives at Earth, and the brighter and more widespread the aurora.

    When, Where to See the Aurora

    Clear, night skies are best for being able to see the aurora.

    The geomagnetic storm early New Year’s Eve morning and night (Eastern Time) may bring the colorful aurora to places above 50 degrees geomagnetic latitude, such as Alaska, Washington, Montana, North Dakota, South Dakota, Minnesota, Wisconsin, Michigan, New Hampshire, Vermont, and Maine.

    If the geomagnetic storm is strong enough, parts of Oregon, Idaho, Wyoming, Iowa, and New York may also get a glimpse of the lights early Dec. 31 Eastern Time before the sun rises.

    A man takes pictures of the Aurora Australis, also known as the Southern Lights, as it glows on the horizon over waters of Lake Ellesmere on the outskirts of Christchurch on April 24, 2023. Sanka Vidanagama/AFP via Getty Images

    The CME from the first solar flare is forecast to arrive at Earth by midday UTC (7 a.m. ET) on Dec. 31, and the second flare near midday UTC (7 a.m. ET) on Jan. 1.

    Those in the upper latitudes in the Eastern Hemisphere will have a chance of seeing a brighter-than-usual aurora on New Year’s Eve.

    Updates to the forecast are available on NOAA’s Space Weather Prediction Center website.

    Uptick in Solar Activity

    The recent uptick in strong geomagnetic storms, seen as strong auroras, marks a period of increased solar activity on the Sun.

    The Sun’s activity has been observed to move through an 11-year solar cycle and has reached its solar maximum period.

    In May, the Earth was hit by the strongest geomagnetic storm in 20 years—a G5-level storm associated with an X8.7 solar flare—that saw reports of the aurora being visible as far south as Florida.

    The aurora borealis, commonly known as the northern lights, seen in Whitley Bay, England, on May 10, 2024. Ian Forsyth/Getty Images

    October saw an X1.8 solar flare and a resulting G3-level storm. X-class flares are the strongest category of solar flare and are 10 times the intensity of the preceding category, the M-class solar flare. They increase the risk of disturbances to satellite communications, power grids, and navigation systems.

    The current solar maxima, which started in 2020, is expected to last at least into 2026.

    Tyler Durden
    Tue, 12/31/2024 – 18:00

  • 24 Moments That Helped Define 2024
    24 Moments That Helped Define 2024

    Authored by Lawrence Wilson via The Epoch Times,

    President Ronald Reagan once said: “Some people spend an entire lifetime wondering if they made a difference in the world. But the Marines don’t have that problem.”

    The same might be said of 2024, which saw a number of firsts that left a lasting impression on the world.

    Here are the defining moments of the year, presented in chronological order.

    Harvard President Resigns

    Harvard President Claudine Gay resigned on Jan. 2, about two months after she and other university administrators were questioned about anti-Semitism on their campuses.

    Under questioning from Rep. Elise Stefanik (R-N.Y.), a Harvard alumna, Gay said that students calling for the genocide of Jews did not necessarily violate Harvard’s code of conduct.

    Gay later apologized for the remarks.

    The U.S. Department of Education announced an investigation in late November 2023 into Harvard in light of anti-Semitism on its campus.

    Nearly 27 percent of Harvard students are Jewish.

    The resignation was the third among Ivy League presidents who faced pressure from donors and lawmakers over their handling of campus protests regarding the Israel–Hamas war.

    Claudine Gay (L), president of Harvard University, and other university administrators testify at a hearing to investigate anti-Semitism on college campuses, at the U.S. Capitol on Dec. 5, 2023. Kevin Dietsch/Getty Images

    McConnell Steps Down

    Senate Minority Leader Mitch McConnell (R-Ky.) announced on Feb. 28 that he would step down at the end of the year but remain in the Senate.

    McConnell, 82, is the longest-serving party leader in Senate history. He faced persistent opposition from some Republican senators who disagreed with his efforts to continue funding Ukraine in its war with Russia.

    McConnell will be succeeded by Sen. John Thune (R-S.D.) on Jan. 3, 2025.

    Senate Minority Leader Mitch McConnell (R-Ky.) walks toward his office in Washington on Feb. 28, 2024. McConnell announced on this day that he will step down as Republican leader in November. Nathan Howard/Getty Images

    Terrorist Attack in Russia Kills 145

    A terrorist attack on a concert hall near Moscow killed at least 145 people and injured 180 on March 22.

    The ISIS terrorist group claimed responsibility, but Russian President Vladimir Putin alleged in a televised address that the perpetrators had attempted to flee to Ukraine.

    On June 23, terrorists attacked two cities in the Russian Republic of Dagestan, striking two synagogues, two churches, and a police post. At least 21 people were killed and 46 were injured.

    Mourners stand in a queue to lay flowers at a makeshift memorial after a massacre that killed 145 people, in front of the Crocus City Hall in Krasnogorsk, Russia, on March 24, 2024. Olga Maltseva/AFP via Getty Images

    Ship Topples Key Bridge in Baltimore

    A cargo ship collided with a supporting pillar of the 47-year-old Francis Scott Key Bridge on March 26, hurling steel, concrete, and people into the water. Six people died. Two were rescued.

    The incident closed Baltimore Harbor for 11 weeks, causing a major disruption to U.S. shipping.

    The bridge, which was part of Interstate 695, remains closed, causing some 31,000 vehicles per day to travel alternate routes.

    The cargo ship, Dali, sits in the water after colliding into the Francis Scott Key Bridge in Baltimore on March 26, 2024. Tasos Katopodis/Getty Images

    Israel, Iran Trade Strikes

    Iran launched more than 300 cruise missiles, ballistic missiles, and drones in its first direct attack on Israel on April 13.

    Israel said that it intercepted 99 percent of the weapons with cooperation from the United States and other allied forces.

    A few missiles got through the defenses and caused minor damage to an Israeli military installation.

    The attack appeared to be in retaliation for an April 1 airstrike on the Iranian Embassy in Syria that killed two Iranian generals.

    After an apparent Israeli airstrike on an Iranian air base on April 19, both sides downplayed the incident, temporarily easing tensions between the two nations.

    People gather around the remains of one of the ballistic missiles fired by Iran earlier in the month and intercepted by Israel, that landed in an open area of the Negev desert near the city of Arad, Romania, on April 30, 2024. Menahem Kahana/AFP via Getty Images

    Pro-Palestinian Protesters Occupy Campuses

    Protesters demanding an end to the war in the Gaza Strip and divestment from Israel staged demonstrations on more than 80 campuses in at least 30 states in April and May.

    Some demonstrators occupied buildings, skirmished with counterprotesters, and created encampments in public spaces, resulting in hundreds of arrests.

    The protests were the largest display of campus unrest since the anti-apartheid demonstrations of the 1980s.

    Pro-Palestinian protesters gather outside of New York University during an ongoing demonstration against their school’s investments and the administration’s views on Israel, in New York City on May 3, 2024. Spencer Platt/Getty Images

    Trump Convicted

    Former President Donald Trump on May 30 became the first former president convicted of a crime.

    A New York state jury found Trump guilty of 34 felony counts of falsifying business records, a crime normally prosecuted as a misdemeanor.

    Trump maintained that this case, along with others against him, was politically motivated.

    Shortly after the conviction was announced, he told reporters: “The real verdict is going to be Nov. 5 by the people. And they know what happened here, and everybody knows what happened here.”

    Trump was a defendant in three other criminal cases in 2024.

    A federal case in Washington related to alleged election interference was dropped after Trump won reelection.

    The prosecutor in a federal case in Florida related to Trump’s retention of classified documents withdrew his appeal of an earlier decision by the judge to toss the case.

    A state case in Georgia alleging a scheme related to the 2020 election remains in jeopardy after an appeals court ruled in December that Fulton County District Attorney Fani Willis and her office were disqualified from prosecuting the case against Trump. A judge had earlier ordered the special prosecutor removed from the case for conduct that created an appearance of impropriety.

    The president-elect will be immune from prosecution during his term in office, which begins on Jan. 20.

    Former President Donald Trump arrives at Trump Tower in New York City on May 30, 2024. The former president on this day was found guilty on 34 felony counts of falsifying business records. Stephanie Keith/Getty Images

    Trump Survives 2 Assassination Attempts

    Trump survived an assassination attempt in Butler, Pennsylvania, on July 13.

    A 20-year-old gunman gained access to a roof approximately 400 feet from Trump at an outdoor rally and fired four shots, one striking Trump in the right ear.

    One bystander was killed and two others were wounded.

    The gunman was killed by the Secret Service.

    Trump dropped to the ground but soon rose, surrounded by Secret Service agents.

    His ear bloodied and his fist raised, Trump shouted, “Fight! Fight! Fight!”

    The moment provided one of the most vivid images in presidential history and sparked bipartisan criticism of Kimberly Cheatle, Secret Service director, who resigned 10 days later.

    On Sept. 16, another gunman was apprehended in Florida after allegedly lying in wait for the former president with a rifle at the Trump International Golf Course in West Palm Beach.

    On Nov. 19, the FBI announced that it had foiled an assassination plot against Trump by the government of Iran.

    Republican presidential candidate former President Donald Trump raises his fist after being shot, while Secret Service agents surround him, at a campaign rally in Butler, Pa., on July 13, 2024. Evan Vucci/AP Photo

    Nvidia Becomes Largest US Company

    Nvidia surpassed Apple on June 18 to become the world’s most valuable company.

    Demand for its artificial intelligence (AI) chips fueled the surge in its stock price.

    Lawmakers noted the company’s rise along with investors.

    Sen. Elizabeth Warren (D-Mass.) called for an antitrust investigation of Nvidia, which she said controls about 90 percent of the high-end AI chip market and 98 percent of the graphics processing unit market.

    The Nvidia headquarters in Santa Clara, Calif., on Feb. 5, 2024. Justin Sullivan/Getty Images

    Biden Withdraws From Presidential Race

    President Joe Biden withdrew from the presidential campaign on July 21 and endorsed Vice President Kamala Harris.

    Biden made the decision barely three weeks after a poor debate performance with Trump, where he appeared to have difficulty remembering facts and completing sentences.

    Following the debate, several prominent Democrats called for Biden to step aside.

    The announcement upended what many observers called the most consequential presidential race in recent history just weeks before the election.

    Harris was formally declared the replacement nominee on Aug. 2 after a virtual roll call of Democrat delegates. She introduced Minnesota Gov. Tim Walz as her running mate on Aug. 6.

    No other presidential candidate has withdrawn from a reelection campaign that far into the race.

    Lyndon Johnson ended his campaign on March 31, 1968.

    Harry Truman withdrew from his reelection bid on March 29, 1952.

    President Joe Biden delivers remarks as Vice President Kamala Harris looks on, at the White House on July 14, 2024. Kevin Dietsch/Getty Images

    Israel Kills Top Leaders of Hamas and Hezbollah

    Israel claimed responsibility on Aug. 1 for a July airstrike in the Gaza Strip that killed Hamas military leader Mohammed Deif.

    The announcement was made a day after the apparent Israeli assassination of Hamas leader Ismail Haniyeh in Iran, and not long after Israel’s killing of a Hezbollah commander in Beirut, Lebanon.

    Israeli Prime Minister Benjamin Netanyahu said, “[We] will exact a heavy price from any aggression against us on any front.”

    A woman walks near a billboard displaying portraits of Hamas leader Mohammed Deif (R) and Ismail Haniyeh with the slogan “assassinated” written in Hebrew, in Tel Aviv, Israel, on Aug. 2, 2024. Oren Ziv/AFP via Getty Images

    Prisoner Exchange Frees Americans in Russia

    Evan Gershkovich, the Wall Street Journal reporter sentenced to 16 years in a Russian prison for espionage, was freed on Aug. 1 along with three others in a multinational prisoner exchange with Russia.

    The U.S. government said Gershkovich’s trial was politically motivated.

    Also freed were U.S. Marine veteran Paul Whelan, Radio Free Europe/Radio Liberty journalist Alsu Kurmasheva, and Russian British journalist Vladimir Kara-Murza.

    Americans Evan Gershkovich (L), Alsu Kurmasheva (R), Paul Whelan (2nd R), and others aboard a plane following their release from Russian captivity, on Aug. 1, 2024. White House via AP

    Ukraine Invades Russia

    Two and a half years after Russia invaded Ukraine, Ukrainian armed forces invaded the Kursk Oblast Region of Russia.

    The Aug. 6 surprise attack marked a change of momentum in the war, which had become a grinding conflict that produced small territorial gains but significant numbers of casualties.

    Ukrainian forces intended to use the attack to draw Russian troops out of the occupied Ukrainian territory of Donetsk. Ukraine claimed to control about 444 square miles of Kursk by Aug. 15.

    The offensive raised morale in Ukraine, although Russia counterattacked weeks later and regained much of the territory.

    Ukrainian servicemen operate a Soviet-made T-72 tank in the Sumy region, near the border with Russia, on Aug. 12, 2024. Ukraine launched a surprise attack in the Russian border region of Kursk on Aug. 6, 2024. Roman Pilipey/AFP via Getty Images

    CCP Agent Arrested in New York State

    The FBI arrested a former deputy chief of staff to New York Gov. Kathy Hochul on Sept. 3 for spying on behalf of the Chinese Communist Party (CCP).

    Linda Sun and her husband, Christopher Hu, were both charged with multiple crimes.

    On Dec. 10, federal agents arrested a Chinese national suspected of flying a drone over Vandenberg Space Force Base in California and taking photos of the SpaceX rocket pads on the day a contractor launched a national reconnaissance payload.

    The arrests are the latest in a string of arrests of people suspected of espionage on behalf of the CCP.

    Also in 2024, two Chinese nationals and two U.S. citizens pleaded guilty to federal charges related to spying for the CCP in three separate cases.

    Linda Sun (R), a former aide to New York Gov. Kathy Hochul, and her husband, Chris Hu, exit the federal court in Brooklyn after Sun was charged with acting on behalf of the Chinese Communist Party, in New York City on Sept. 3, 2024. Kent J. Edwards/Reuters

    Exploding Pagers Kill, Injure Hezbollah Members

    Pagers and walkie-talkies exploded in a series of incidents on Sept. 17 and 18, killing dozens and wounding thousands across Lebanon.

    Hezbollah leaders said through an intermediary that members of various Hezbollah-aligned military units and political institutions were injured in the blasts.

    Israeli President Isaac Herzog said on Sept. 22 that his country was not involved in the attacks.

    However, two men who identified themselves as retired Israeli intelligence agents said in a “60 Minutes” interview on Dec. 22 that Israel had undertaken the operation, which was some 10 years in the making.

    Smoke billows from a house after a reported explosion of a radio device, in Baalbek, Lebanon, on Sept. 18, 2024. -/AFP via Getty Images

    Hurricane Helene Batters Southeast

    Hurricane Helene made landfall on Sept. 26 to become the deadliest hurricane in the continental United States since Katrina in 2005.

    Helene, a Category 4 hurricane, caused more than 150 direct fatalities, mostly in North Carolina and South Carolina. Helene also created storm surges and flooding in the Florida Gulf Coast and western North Carolina.

    The 2024 Atlantic hurricane season brought an above-average number of named storms at 18.

    Named storms are organized cyclones with sustained winds of 39 mph or more.

    Of the 18 storms, 11 were hurricanes, having sustained winds of at least 73 mph, and five were classified as major hurricanes, having sustained winds of at least 111 mph.

    The average number of named storms per season is 14, including seven hurricanes and three major hurricanes, according to the National Oceanic and Atmospheric Administration.

    Damaged buildings in the aftermath of flooding caused by Hurricane Helene, in Bat Cave, N.C., on Oct. 8, 2024. Mario Tama/Getty Images

    Settlement Allows College Athletes to Be Paid

    A federal judge approved a preliminary legal settlement on Oct. 7 that will allow schools to pay college athletes.

    The move is likely to transform college athletics by funneling millions of dollars to elite players.

    If finalized in April 2025, the settlement will establish a pool of $21.5 million to be distributed among college athletes in the first year of the arrangement.

    NCAA rules were changed in 2021 to allow college athletes to profit from licensing rights to their name, image, and likeness, although restrictions vary among states and universities.

    Soccer players of the Dutch national team train in preparation for the 2024 UEFA European Football Championship, at the KNVB Campus in Zeist, the Netherlands, on June 2, 2024. Vincent Jannink/ANP/AFP via Getty Images

    SpaceX Catches Rocket

    SpaceX caught a giant booster rocket, part of its Starship system, with a pair of mechanical arms as it arrived back at the launchpad in Boca Chica, Texas, after propelling a craft toward space on Oct. 13.

    The first-ever such landing was a milestone in the campaign to create a fully reusable rocket.

    Starship, when fully tested, is intended for use in landing astronauts on the moon’s south pole, according to NASA Administrator Bill Nelson, who sent congratulations.

    The most recent American lunar landing was 52 years ago.

    Starship’s Super Heavy Booster is grappled at the launch pad in Starbase near Boca Chica, Texas, on Oct.13, 2024. SpaceX successfully “caught” the first-stage booster of its Starship megarocket as it returned to the launch pad after a test flight, a world first in the company’s quest for rapid reusability. Sergio Flores/AFP via Getty Images

    Trump Defeats Harris, GOP Captures Senate, Keeps House

    Trump defeated Harris in the Nov. 5 presidential election, becoming just the second president to serve a nonconsecutive term.

    The victory capped a historic political comeback by Trump after his loss in the 2020 election.

    Republicans also gained control of the Senate and maintained a narrow majority in the House of Representatives.

    The outcome offers Trump a second chance at implementing his “America First” agenda, which focuses on border security, stimulating the economy by increasing domestic energy production, and increasing U.S. manufacturing through a system of tax incentives for domestic manufacturers and tariffs on imported goods.

    President-elect Donald Trump and incoming First Lady Melania Trump during an election night event at the Palm Beach Convention Center in West Palm Beach, Fla., on Nov. 6, 2024. Chip Somodevilla/Getty Images

    CCP Hacks US Telecom

    Chinese regime-sponsored hackers breached several U.S. telecommunication providers and stole customer call records and private communications from people involved in government or political activity, federal officials announced on Nov. 13.

    The joint statement by the FBI and the Cybersecurity and Infrastructure Security Agency appeared to suggest that the breach may have targeted programs covered by the Foreign Intelligence Surveillance Act.

    The full extent of the breach is not yet known.

    One of the hacker groups is believed to have breached AT&T, CenturyLink, Verizon, and other telecom providers and to have targeted Trump and Harris.

    The cyberattack has been in progress since at least 2021 and is ongoing.

    A contract crew for Verizon conducts update work on a cell tower in Orem, Utah, on Dec. 10, 2019. A Beijing-sponsored hacker group is believed to have breached U.S. telecom providers. George Frey/AFP via Getty Images

    Biden Pardons His Son

    President Joe Biden pardoned his son Hunter on Dec. 1, sparing him jail time for tax evasion and firearms charges to which he had pleaded guilty.

    The blanket pardon also covers any federal offenses Hunter Biden may have committed from Jan. 1, 2014, through Dec. 1, 2024.

    Before Hunter Biden’s conviction, President Biden said he would not grant his son a pardon.

    Some Republicans and Democrats criticized Biden for abuse of the pardon power. Yet two other presidents have pardoned relatives or their extended family members.

    In 2001 Bill Clinton pardoned his brother, Roger Clinton, for 1985 convictions on drug charges.

    Trump pardoned Charles Kushner, the father of his son-in-law Jared Kushner, in 2020.

    The elder Kushner was convicted on charges of fraud and retaliation against a witness in 2005.

    On Dec. 23, Biden commuted the sentences of all but three federal convicts awaiting execution on death row.

    Hunter Biden departs the J. Caleb Boggs Federal Building in Wilmington, Del., on June 3, 2024. President Joe Biden pardoned his son on Dec. 1, 2024. Anna Moneymaker/Getty Images

    Health Insurance CEO Gunned Down

    The CEO of UnitedHealthcare was gunned down on a sidewalk in New York City on Dec. 4.

    The killer lay in wait for Brian Thompson, 50, and apparently intended to use the killing to draw attention to perceived abuses in the health insurance industry.

    Luigi Mangione, 26, has been arrested and charged with multiple state and federal offenses in connection with the crime.

    The murder elicited both outrage over the brazen act of violence and a rash of caustic social media posts expressing contempt for health insurance companies over their perceived unfair treatment of customers.

    Police respond as CEO of UnitedHealthcare, Brian Thompson, was shot as he prepared to enter the New York Hilton in New York City on Dec. 4, 2024. Bryan R. Smith/AFP via Getty Images

    Notre Dame Cathedral Reopens

    Notre Dame Cathedral in Paris, nearly destroyed by fire in 2019, reopened on Dec. 7.

    Trump was one of some 50 foreign leaders invited by French President Emmanuel Macron to attend the ceremonies.

    Trump and Macron were both in office when Notre Dame burned.

    As the symbol of Paris reopened, Trump was poised to complete one of the most remarkable political comebacks in American history as his French counterpart struggled to retain power.

    Trump met with Macron and Ukrainian President Volodymyr Zelenskyy in Paris just before the reopening ceremonies.

    The choir, clergy, and guests stand during a ceremony to mark the reopening of Notre-Dame of Paris Cathedral in Paris on Dec. 7, 2024. After five years of restoration after a 2019 fire, the cathedral reopens its doors to the world in the presence of French President Emmanuel Macron and around 50 heads of state. Pascal Le Segretain/Getty Images for Notre-Dame de Paris

    Assad Regime Falls

    The Arab Spring, which began with popular protests across the Arab world in the early 2010s, bore fruit on Dec. 7 as Syrian leader Bashar al-Assad fled the country, with rebel groups closing in on Damascus.

    Assad’s exit brought his 24 years in power to an end, although various rebel groups now occupy portions of the country.

    Thousands gather in the streets after the fall of the Assad regime, in Damascus, Syria. on Dec. 13, 2024. Sami Boudra/Middle East Images/AFP via Getty Images

    Trump said on Jan. 20 that Turkey, a NATO country, will hold the “key to Syria,” as most of the rebel groups controlling territory in Syria are “controlled by Turkey.”

    French judges issued an international arrest warrant for Assad and other Syrian officials in November 2023 for the use of chemical weapons against civilians in the Syrian civil war.

    Assad has been given sanctuary in Moscow.

    Tyler Durden
    Tue, 12/31/2024 – 17:30

  • Astrophysicist's Chilling Prediction: Galactic War Awaits As Billions Of Humans Will Colonize Space
    Astrophysicist’s Chilling Prediction: Galactic War Awaits As Billions Of Humans Will Colonize Space

    Astrophysicist Adam Frank shared a bold vision of humanity’s future in space during his recent conversation with Lex Fridman, predicting that millions—possibly billions—of humans will one day inhabit the galaxy. This rapid expansion, he warns, will inevitably spark interplanetary conflict across the solar system.

    LEX FRIDMAN: Do you think if humans colonize Mars, the dynamic between the civilization on Earth and Mars will be fundamentally different than the dynamic between individual nations on Earth right now? Like, that’s a thing to load into the simulation we’re talking about.

    ADAM FRANK: If we settle Mars, it will very quickly want to become its own nation.

    LEX FRIDMAN: Well, no, there’s already going to be nations on Mars—that’s guaranteed. Once you have a million people, there’s going to be two tribes and then they’re going to start fighting. Right? And the question is interplanetary fighting—how quickly does that happen and does it have a different nature to it because of the distances?

    ADAM FRANK: Are you a fan of The Expanse? Have you watched The Expanse? Great show. Because it’s all about the—I highly recommend it to everybody. It’s based on a series of books that are excellent. It’s on Prime, six seasons, and it’s basically about the settled solar system. It takes place about 300 years from now, and the entire solar system is settled. And it is the best show about interplanetary politics. The first season, actually, Foreign Affairs said the best show on TV about politics that takes place is interplanetary.

    I think human beings being human beings, yes, there will be warfare and there will be conflict. And I don’t think it’ll be necessarily all that different, you know, because really I think within a few hundred years we will have lots of people in the solar system, and it doesn’t even have to be on Mars. We did a paper where we looked—based on CU, I wanted to know about whether an idea in The Expanse was really possible. In The Expanse, the asteroid belt, what they’ve done is they’ve colonized the asteroid belt by hollowing out the asteroids and spinning them up and living on the inside because they have the Coriolis force.

    And I thought, like, wow, what a cool idea, and when I ran the blog for NPR, I actually talked to the guys and said, ‘Did you guys calculate this, see whether it’s possible?’ Sadly, it’s not possible. The rock is just not strong enough. If you tried to spin it up to the speeds you need to get one-third gravity, which is, I think, the minimum you need for human beings, the rock would just fall apart, it would break.

    But we came up with another idea, which was that if you take small asteroids, put a giant bag around them, a nanofiber bag, and spin those up, it would inflate the bag, and then even a small, couple-of-kilometer-wide asteroid would expand out to—you could get like a Manhattan’s worth of material inside. So forget about even colonizing Mars—space stations, right? Or space habitats with millions of people in them. So anyway, the point is that I think, you know, within a few hundred years, it is not unimaginable that there will be millions, if not billions, of people living in the solar system.

    LEX FRIDMAN: And you think most of them will be in space habitats versus on Mars and on the planetary surface?

    ADAM FRANK: It’s a lot easier on some, on some level, right? It depends on how, like, with nanofabrication and such. But, you know, getting down a gravity well is hard, right? So, you know, there’s a certain way in which it’s a lot easier to build real estate out of the asteroids. But we’ll probably do both. I mean, I think what’ll happen is, you know, the next—should we make it through climate change and nuclear war and all the other things, and AI—the next thousand years of human history is the solar system, right?

     I think we’ll settle every nook and cranny we possibly can, and it’s, you know, it’s a beautiful—what I love about what’s hopeful about it is this idea you’re going to have all of these pockets, and, you know, I’m sure there’s going to be a Mormon space habitat. Like, you know, there’s going to be whatever you want, a Libertarian space habitat. Everybody’s going to be able to kind of create their—there’ll be lots of experiments in human flourishing, and those kinds of experiments will be really useful for us to sort of figure out better ways for us to interact and have maximum flourishing, maximum wellness, maximum democracy, maximum freedom.

    Tyler Durden
    Tue, 12/31/2024 – 17:00

  • The Future's Uncertain & The End Is Always Near
    The Future’s Uncertain & The End Is Always Near

    Authored by Jim Quinn via The Burning Platform blog,

    “The illusion of freedom will continue as long as it’s profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.” – Frank Zappa

    “Government is the Entertainment division of the military-industrial complex.” ― Frank Zappa

    Are you not entertained by the never-ending bullshit, propaganda, false flags, threats, and revelations produced by those running the show and regurgitated by their captured media mouthpiece whores? The absolute tsunami of misinformation and political theatrics spewing over the airwaves is surely designed to distract the public from something more sinister, diabolical, and self-serving to the Deep State renegades who still wield the real power in this world. Nothing is as it seems. If ever there was a time to keep your hands upon the wheel and eyes upon the road, it is now. They have turned up the volume of misinformation and fear mongering to eleven.

    Anyone who says they know how the next four years will play out is lying. The level of gaslighting and misleading the public about the true nature of our circumstances has reached historic levels. Half the country thinks everything done to Americans over the last four years in the name of a dementia ridden, child sniffing husk occupying the White House, was done in good faith, with their best interests at heart. The other half are ecstatic their savior will do what he said he’d do, even though he didn’t do what he said he would do the first time. Is it really possible to make America great again at this stage of our empire collapse?

    The show will go on until the directors decide it is time to take down the scenery, pull back the curtains, and reveal the prison like walls they have constructed while you were being entertained by their theatrical production of America the Free. There has been no true freedom for Americans since at least the early 20th Century, before the Fed, the income tax, and women voting. And truthfully, probably very limited freedom since Lincoln’s expansion of Federal power during the Civil War.

    The Uni-Party is pulling out all the stops to keep the ignorant masses on each side equally ignorant, keeping them: hopeful, fearful, angry, joyful, retribution seeking, denying culpability, utilizing lawfare, and distracted by whatever new plotline is dreamed up by the producers of this dystopian show of shows. Besides the daily venomous attacks on Trump’s cabinet nominees by the Deep State controlled media, the U.S. government now supports the terrorists running Syria and continues to condone the Greater Israel agenda of the murderous head of the Israeli state.

    Biden’s controllers are sending tens of billions more to Zelensky, while allowing Americans to freeze in tents in NC and Georgia. In Biden’s waning days, pretending to be president, his controllers are attempting to maximize global chaos and implement traitorous domestic machinations to hurt Trump and the American people as much as humanly possible. He’s the Oprah of pardons and commutations for murderers, rapists, and pedophiles. You get a pardon; you get a pardon.

    For two weeks, the latest fear invoking storyline was the mysterious drones swarming the northeastern U.S., while the federal government denied knowing anything, and at the same time leaked rumors about radioactivity being detected in ports on the east coast. Throw in further rumors they were Chinese or Iranian drones or UFOs, and you’ve got an excellent psy-op designed to distract the public from what is really happening. Now they are once again rolling out the discredited murderous plandemic “science experts” (Fauci, Birx, Wen) to hyperventilate about the dreaded bird flu that will kill us all, unless we begin mass testing and vaccinations. Oh, the horror!!!

    This production of fear is designed to distract from the real issues. The true economic condition of the country is frighteningly unsustainable and propelling the nation towards a disastrous rendezvous with destiny. The lunatics in control of Biden, along with the supposed GOP fiscal conservatives in the House somehow managed to add $2.3 trillion to the national debt in the last fiscal year. They will add another $400 billion by the time Trump is inaugurated. The national debt stands at $36.1 trillion, up $8.4 trillion (30%) during Biden’s reign of error.

    Interest on the existing debt will exceed $1 trillion this year, as interest rates continue to rise, even though the Fed has cut short-term rates by 1%, with inflation remaining above 3% and the economy supposedly growing strongly. None of this makes logical sense because all reported government figures are fake, manipulated, or massaged to achieve a happy ending. The government is siphoning more than enough in taxes from you and me. It is the insane level of government spending marking the death knell of this empire of debt.

    This bloated pig of a government clearly was able to function while spending between $3 trillion and $4 trillion per year until the covid plandemic was rolled out in 2020. “Emergency” spending of $7 trillion to $8 trillion has never been reduced, because the real emergency started in September 2019 when the repo market revealed the gears of the financial system were seizing up, massive doses of new debt were necessary, and magically a global pandemic appeared out of thin air “requiring” an additional $4 trillion of spending and debt creation per year. The Fed is trapped, as the bond markets are ignoring their fruitless efforts at controlling interest rate markets and focusing on the disaster ahead.

    The average American, whose retirement savings in 401ks and IRAs are allocated to S&P 500 index funds because stocks “always” rise in the long run, is oblivious to the enormous risk they are currently taking. No one on CNBC or in the financial industry will provide the truth regarding the markets. The top 10 stocks by market value now account for 40% of the S&P 500. These stocks (Nvidia, Apple, Microsoft, Amazon, Facebook, Google, Tesla, Berkshire, Broadcom) have been manipulated by computer programs utilized by the Wall Street cabal to provide the appearance of a strong stock market, and by association, a strong economy.

    It’s all a farce. The other 490 stocks in the S&P 500 aren’t doing so hot. Without $7 trillion of government spending, the economy would be in a deep recession. Anyone denying we are in the midst of the largest bubble of all-time is just denying reality because they are bought off or just plain ignorant of history. The 40% market value of the top 10 stocks is a full 50% higher than the Dotcom bubble in 2001 and 75% higher than the 2008 housing bubble top. Even a minor reversion to the mean would cause a stock market crash.

    By every historic metric, the stock market is epically overvalued. The current PE ratio of the S&P 500 is 28, only 65% above the long-term median of 17. Robert Shiller’s CAPE (Cyclically Adjusted PE Ratio) sits at 38, only 135% above the long-term median of 16, and only exceeded once in history during the Dotcom bubble. These measures do not predict what the market will do tomorrow, but they are highly predictive of how the markets will perform over the next several years.

    Any financial “advisor”, newsletter publisher, or Wall Street bank telling their customers, stocks will keep rising are lying, in their greedy self-interest to keep fee income rolling in. There is no rational argument for stocks, bitcoin and real estate to keep rising from their all-time highs, achieved through market manipulation and false narratives sold to the masses. The coming financial collapse can be initiated by a trigger event (tariffs, war, political event, terrorist event, another fake pandemic) or just by the weight of overvaluation and the herd coming to their senses one by one.

    “Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay

    I believe Trump’s Deep State enemies would like nothing more than a financial and stock market collapse during his reign, in an effort to undermine his presidency. This outcome is highly likely, even if it is not purposely engineered by the Deep State. The other potential trigger is the housing market. Again, the narrative sold to the public is this is the best time to buy, because real estate prices always rise. That was the narrative from 2000 until 2006, then home prices fell for six straight years, until the Federal government colluded with Wall Street hedge funds and the Federal Reserve to produce the current property bubble, with existing home sales prices reaching an all-time high of $427,000 in June 2024, up $197,000 from the 2006 bubble high of $230,000 – an 85% increase engineered by the financial interests benefiting from this bubble.

    The reality is 2024 existing home sales are the lowest in 29 years (have you heard that fact on any regime media outlet?), as 30-year mortgage rates have soared from 2.75% in 2021 to over 7% today. Sales are lower than during the 2006 – 2012 crash, but prices are near all-time highs. Something has to give, and this foundation, built on sand, is crumbling.

    Prices are down 10% in the last six months. Rental vacancy rates bottomed out at an all-time low below 4% in 2022 and have soared to 6.8% today – and rising. Supply and demand are always balanced through prices. Once the avalanche of price decreases begins, with an undeniable recession and rising unemployment, more and more people will be underwater on their mortgages and unable to service their debt.

    Reversion to the mean will devastate the delusions of debt propping up this failing empire. Extending and pretending is not a strategy; it is a desperate last-ditch measure to delay the banquet of consequences which must be faced. The popping of this everything bubble will be written about in history books, like the South Sea Bubble, Tulip Mania Bubble, The Mississippi Bubble, 1920s Stock Market Bubble, and Dotcom Bubble.

    While the controllers continue to pump the stock and crypto markets, luring more suckers in at all-time highs, in the real-world average Americans are in deep trouble, as the fake pandemic savings have evaporated and trying to sustain themselves, amidst Biden’s 20% to 40% inflation, on credit cards has run its course, with default rates now at fourteen-year highs. Does that happen in a strong economy?

    Auto loan delinquencies are now back to pandemic levels and rising. Shocking when the average auto price now exceeding $48,000, average non-prime auto loan rates of 10% to 15%, and six-year loans putting the average car “owner” underwater when they drive off the lot. Mortgage delinquency rates have been steadily rising for three years, tripling from 0.6% to 1.8% during a supposedly strong economy. All indicators point to increased stress on households just trying to survive from month to month.

    As self-serving pundits and regime media whores bloviate about our glorious future and Trump making America great again in 2025, the reality of our situation worsens by the day. Adding $5 to $6 billion of debt per day doesn’t just sound unsustainable – it is unsustainable. The bond market sending 10-year rates up 1%, while the Fed cut short term rates by 1%, is a sure sign the smart money is exiting stage left, while pumping up stocks, and leaving the ignorant masses holding the bag when it all implodes.

    I do not think 2025 is going to be very enjoyable for anyone, no matter which branch of the Uniparty you support. Of course, my annual prediction for economic disaster has been wrong for the last fourteen years, so don’t go jumping off a bridge just yet.

    I like a number of Trump cabinet nominees (RFK Jr., Tulsi, Hegseth, Patel and Ratcliff) and I agree with his positions on the border, war, and government waste. It will be easy for the DOGE boys to come up with a list of $2 trillion in government expenditure cuts, but none of the Trump fanboys will admit cutting that amount of spending and firing hundreds of thousands of government drones will instantaneously produce the recession that has been delayed by the $3 trillion of annual excess government spending over the last four years. Doing the right thing will create the recession/depression which has been delayed for a decade by QE and doubling the national debt.

    So, Trump will either balk at actually reducing the size of government, and our debt death spiral will accelerate, or he will prove to have tougher skin than during his first term and accept a deep recession as necessary to try and steer the nation back towards sustainability. The recession would be a trigger for the stock market and housing market collapse. There is nothing Trump and his minions can do to avoid the ultimate failure of financial system created by decades of bad choices, massive corruption, and capture by corporate special interests in the military, pharmaceutical, and banking industries.

    At this point, there are no good choices. We will either experience a deflationary depression or a hyperinflationary depression. The powers that be would prefer hyperinflation, where they position themselves to benefit, while allowing the masses to beg the government to save them. You don’t have to be a conspiracy theorist to decipher the goals of the ruling oligarchs. They want more power, control and wealth, using any means necessary to achieve their diabolical ends.

    Their methods are: engineered crisis, invoking fear in the masses, and using their control over media outlets to propagate whatever narrative maximizes their profits. A financial and economic collapse, leaving the masses in dire straits, would be their perfect opportunity to roll out their CBDCs as a means to gain control over every aspect of our lives. Their Great Taking scheme of siphoning the wealth of the masses directly from their bank accounts and 401ks as an “emergency measure” (already done by FDR in 1933 and Cyprus in 2012) to “save” the financial system is already written into legal documents unknown to depositors.

    The upcoming confirmation hearings for Trump’s cabinet selections will reveal the true strength of his Deep State enemies and the entrenched DC blob. Will his agenda be de-fanged before it has a chance to take a bite out of this bloated pig of a crumbling empire. We shall see. The road ahead will be rocky, dangerous, and potentially lethal. I don’t pretend to know what portends in 2025 and beyond, but examining the facts and reality of our current situation leaves me uncertain about the future, knowing the end is always near. Good luck to all as this Fourth Turning accelerates towards an unknown climax and resolution.

    Tyler Durden
    Tue, 12/31/2024 – 16:30

  • Is Taurine The Elixir Of Life? Considerations For Supplementation
    Is Taurine The Elixir Of Life? Considerations For Supplementation

    Authored by Jingduan Yang, M.D. via The Epoch Times,

    Throughout history, humans—from commoners to emperors—have sought the secret to slowing aging. In modern society, scientists continue researching nutrients that effectively combat aging. We will delve into one such nutrient that may help fight aging: taurine.

    Danijela Maksimovic/Shutterstock

    Taurine, an amino acid derived from the breakdown of proteins, is primarily found in animal-based foods, such as beef, seafood, and dairy products. It is also a common additive in energy drinks.

    Taurine can also be naturally synthesized in the human body. It plays a role in energy production, assists in the processing of bile acids, and balances fluids, salt, and minerals.

    Animal and Human Studies on Taurine

    As we age, our bodies find it increasingly difficult to repair damage to cells, tissues, and organs, leading to a decline in our ability to combat diseases. At the same time, taurine levels in our bodies decrease with age. Scientists have thus wondered whether increasing taurine levels in the body could slow aging.

    To test the potential of taurine, scientists first conducted research on animals. In a study published in the journal Science in 2023, researchers administered taurine to monkeys that were about 15 years old (equivalent to 45 to 50 human years) for six months. The results showed that compared with the control group, monkeys receiving taurine experienced increased bone density in the lumbar spine and legs, a 19 percent decrease in fasting blood sugar levels, and reductions in body weight and fat percentage. Additionally, taurine supplementation led to approximately 36 percent and 20 percent decreases in the serum concentrations of the liver damage markers aspartate aminotransferase and alanine aminotransferase, respectively.

    These results indicate that taurine benefits various health parameters in nonhuman primates, including body weight, bone density, blood sugar, and liver health. However, because of the relatively short observation period, the effect of taurine on the lifespan of monkeys was not analyzed, prompting scientists to conduct further research.

    The researchers then fed taurine to middle-aged mice at 14 months old (equivalent to 45 human years) until their deaths. The results showed that compared with the control group, mice receiving taurine lived longer, with a 10 percent to 12 percent increase in median lifespan. These results indicate that taurine deficiency is a driving factor in mouse aging and that taurine supplementation can extend lifespan.

    Moreover, significant improvement was observed in other health indicators compared with the control group. Specifically, taurine enhanced muscle strength, coordination, and bone density in mice while also improving memory, reducing anxiety, and rejuvenating their immune systems.

    Does the efficacy of taurine in animals also apply to humans? One study published in Nutrition in 2022 highlighted the antioxidant effects of taurine on women aged 55 to 70. The decline in our bodies’ ability to cope with oxidative stress is a key factor that hinders our ability to repair body damage and prevent aging.

    The study found that taurine supplementation can prevent the decrease of the antioxidant enzyme superoxide dismutase, thereby reducing oxidative stress during the aging process. This finding provides substantial evidence supporting taurine as an anti-aging supplement.

    We know, we know – where can you get some Taurine? Right here…

    Safe Supplementation Dosage for Taurine

    Taurine is not considered an essential amino acid as it can be synthesized in the human body. However, taurine synthesis requires essential amino acids as precursors, making it a conditionally essential amino acid.

    Numerous studies have demonstrated that supplementing with a regular dose of taurine is safe. However, what exactly constitutes a regular dose? In a human study, participants were instructed to take 1,500 milligrams of taurine daily for 16 weeks, and the results showed that this dosage was safe.

    However, there is no universal standard for the appropriate dosage of taurine. Generally speaking, a healthy individual can safely supplement with 30 milligrams per kilogram of body weight per day, meaning a person weighing 60 kilograms (132.28 pounds) can supplement with 1,800 milligrams of taurine. Nonetheless, following medical advice or the recommended dosage indicated on the product label when taking taurine supplements is advisable.

    Considerations for Taurine Use

    Certain groups of people should not take taurine, including women who are pregnant or breastfeeding, people with heart failure, and those allergic to taurine.

    For most people, taking a regular dose of taurine is safe. However, it is always a good idea to consult your doctor before adding any new nutritional supplement.

    Taurine absorption and metabolism vary among individuals. Excessive taurine supplementation may lead to certain side effects, such as palpitations, shortness of breath, dizziness, muscle stiffness, and fever. Visual problems such as blurred vision, narrowed vision, and eye pain may also occur.

    For individuals taking other medications, rest assured that taurine has no known severe or moderate interactions with them. However, taurine may have mild interactions with some drugs. If you are concerned about these interactions, discuss them with your doctor.

    Additionally, many foods and beverages may contain added taurine. Therefore, when taking taurine supplements, be aware of its presence in other foods.

    Last but not least, it is crucial to pay attention to the source and quality of taurine products.

    Views expressed in this article are the opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Tue, 12/31/2024 – 15:59

  • Biden Donor Calls Trump A "F**king Genius" For Beating Dems
    Biden Donor Calls Trump A “F**king Genius” For Beating Dems

    Authored by Julianna Frieman via Headline USA,

    John Morgan, who donated to Democrats for years, called President-elect Donald Trump a “f**king genius” for defeating Vice President Kamala Harris in the 2024 election.

    The Florida-based fundraiser for President Joe Biden told Politico in an interview published Sunday that although he is not sure if Trump is “stable,” he was impressed by the Republican’s populist appeal and reformation of the party.

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

    “I don’t know if Trump is a stable genius, but he’s a f**king genius,” Morgan told the outlet. “He tapped into something Republicans never saw, which was anger and populism on that side.”

    Trump did not only win the Electoral College; for the first time, the president-elect won the popular vote along with all seven battleground states—Arizona, Georgia, Michigan, North Carolina, Nevada, Pennsylvania and Wisconsin.

    Morgan previously stopped identifying himself with the Democratic Party but still supported Democrat candidates since distancing himself from the party label.

    The attorney dumped hundreds of thousands of dollars into Democrat campaign, including the Harris campaign, through his law firm Morgan & Morgan, according to Open Secrets.

    In November, Morgan said Harris should be “disqualified forever” for running for office after her campaign mismanaged roughly $1.5 billion and suffered a historic loss—both electorally and financially.

    “Remember the movie Mad Max when the everybody just doing whatever they wanted, end of the world?” Morgan told NewsNation his Chris Cuomo. “That’s what happened here. All of a sudden, everybody’s got the keys to the candy store, ad buyers, talent, consultants. There’s 100 days to do it, and the money started pouring in, pouring in.”

    The Biden donor added, “Remember this, Chris, it wasn’t pouring in for Harris. It was pouring in against Trump. Everybody that was voting and supporting Harris was really voting against Trump.”

    Julianna Frieman is a freelance writer published by the Daily Caller, Headline USA, The Federalist, and The American Spectator. Follow her on Twitter at @JuliannaFrieman.

    Tyler Durden
    Tue, 12/31/2024 – 15:20

  • Worst Homelessness Crisis Ever!
    Worst Homelessness Crisis Ever!

    Authored by Michael Snyder via The Economic Collapse blog,

    All over America, our core urban areas are teeming with tent cities, hordes of homeless drug addicts, and vast throngs of newly arrived migrants that don’t have anywhere to go.  When I wrote about this topic one year ago, homelessness in the U.S. was at an all-time record high, and it was increasing at the fastest pace ever recorded.  It was going to be hard to top that, but somehow we did.  Fast forward to today, and homelessness in the U.S. has reached another all-time record high, and it is increasing at an even faster pace.  We are literally in the midst of the worst homelessness crisis that our federal government has ever measured, and there is no end in sight.

    When the rest of us discuss the economic pain that we are experiencing, many on the high end of the economic spectrum wonder what all the fuss is about because things still seem pretty good to them.

    But for many of those on the low end of the economic spectrum, it feels like a full-blown economic collapse has already begun.

    On Friday, the U.S. Department of Housing and Urban Development revealed that the homeless population in the U.S. jumped 18 percent in just one year…

    Homelessness in the United States soared to the highest level on record, according to government data released Friday.

    More than 770,000 people experienced homelessness in 2024, an 18% increase from 2023, the US Department of Housing and Urban Development reported. It was the largest annual increase since HUD began collecting the data in 2007 (excluding the jump from 2021 to 2022, when the agency didn’t conduct a full count due to the Covid-19 pandemic).

    If homelessness is at the highest level ever and it is rising at the fastest rate ever, your economy is not okay.

    Let’s just be real for a moment.

    I am so sick and tired of the Biden administration and the mainstream media telling us that everything is just fine.

    More than three-quarters of a million Americans are homeless, and that is just the ones that they are able to find and count.

    The true number is certainly far higher.

    We are being told that the spike in homelessness is happening because we don’t have enough affordable housing and because we are not able to absorb all of the migrants that have been pouring over our borders.

    In fact, in 13 communities that have been heavily impacted by migration, “family homelessness more than doubled”…

    Migration had a particularly notable impact on family homelessness, which rose 39% from 2023 to 2024, according to the report. In the 13 communities that reported being affected by migration, family homelessness more than doubled.

    When we think of the homeless, we tend to think of older men with addiction problems.

    But the truth is that approximately 150,000 children are living in the streets at this point…

    Massively concerning is that 150,000 children experienced homelessness, a 33% jump in 2024 when compared to the prior year.

    What is wrong with us?

    Why can’t we get this crisis under control?

    Our politicians like to give speeches about affordable housing, but housing just continues to become more unaffordable…

    Rents have continued climbing since briefly dipping lower during the pandemic, as well. As of 2023, nearly half of renters spend more than 30% of their income on housing, qualifying them as cost-burdened, according to the US Census Bureau.

    Every day, more precious people on the low end of the economic spectrum are being evicted from their homes.

    Every day, the homeless population in this country just gets even bigger.

    And now we have entered a time when finding a decent job is going to be quite a bit more difficult…

    US private sector full-time jobs have DROPPED by nearly 2 MILLION over the past year.

    Such a drop has never happened outside of recessions.

    The only gain in full-time jobs has been in the government sector.

    We aren’t buying the propaganda any longer.

    They keep trying to convince us that everything is just fine, but that clearly isn’t the truth.

    When Don Lemon tried to convince a random man that he was interviewing that the economy “is actually better under Biden”, the man responded with a “hearty laugh”…

    “Four years ago it was a lot better. I made a lot more money than I do now,” the man said.

    Incredibly, rather than try to understand the man’s perspective, Lemon argued with him.

    “I know you feel that way, but that’s not actually what the record shows,” Lemon said. “The economy is actually better under Biden.”

    That prompted a hearty laugh from the interviewee.

    We can see the tent cities that are popping up like mushrooms all over our major cities.

    We can see the hordes of people that are sleeping in their vehicles in retail parking lots at night.

    And we can see that prices at the grocery store are far, far higher than they used to be.

    According to a national survey that was just released, approximately 70 percent of U.S. adults believe that the U.S. economy is in poor condition right now…

    About 7 in 10 U.S. adults rate the country’s economic state as very or somewhat poor, up slightly from about 6 in 10 in October. Self-identified Democrats are primarily driving the recent negativity. About 6 in 10 Democrats described the U.S. economy as “good” in October. With Republicans on the verge of controlling the executive and legislative branches, only about half of Democrats say that now.

    That same survey also discovered that about a third of all U.S. adults are either “extremely” or “very” concerned about being able to “afford groceries over the next few months”…

    The new AP-NORC poll shows about one-third of Americans say they are “extremely” or “very” concerned about their ability to afford groceries over the next few months. About 3 in 10 are highly worried about being able to afford holiday gifts, gas or electricity.

    There are tens of millions of Americans that are barely holding on from month to month.

    Next month, more of them will lose their grip.

    We really are in the midst of a slow-motion economic collapse, and poverty and hunger really are growing all around us.

    But for now, those on the high end of the economic spectrum are still living the high life, but it is just a matter of time before they experience severe economic pain too.

    *  *  *

    Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

    Tyler Durden
    Tue, 12/31/2024 – 15:00

  • American Ports Need A Private-Sector Life-Raft
    American Ports Need A Private-Sector Life-Raft

    Via SchiffGold.com,

    The world has watched for decades as U.S. ports have lagged behind their international counterparts. As they have become increasingly plagued by congestion, delays, and rising costs, it becomes increasingly clear that the publicly-owned port authorities are failing to meet the demands of modern global trade. The solution lies in privatization, a much-needed approach that could revitalize our failing ports.

    The importance of ports to the U.S. cannot be overstated, as demonstrated by the sheer volume of trade passing through American ports. In 2023, over $2.1 trillion worth of goods, more than 40% of all goods entering or leaving the United States, passed through a port.

    However, despite the importance, American ports continue to lack efficiency. This inefficiency manifests in longer vessel turnaround times, lower crane productivity, poor infrastructure management, and limited use of automation. These issues result in supply chain disruptions and thus increased costs for businesses and consumers.

    The inefficiency of U.S. ports is illustrated by their poor performance in global rankings. According to the Container Port Performance Index (CPPI), which measures global port efficiency based on various factors, U.S. ports consistently lag behind other developed countries. This inefficiency is particularly evident when examining specific port rankings. For instance, the Port of Houston, which handled over 293 million tons of cargo in 2022, ranked a dismal 327th in the 2023 CPPI. The Port of Los Angeles, one of the busiest ports in the country, ranked 378th, while the Port of Savannah came in at 398th.

    These low rankings translate into inefficiencies that impact the entire supply chain. U.S. ports experience longer vessel turnaround times and lower crane productivity compared to global competitors, particularly those in East Asia. This inefficiency is further exacerbated by the limited use of automation in U.S. ports. While automation has been widely adopted in ports around the world, U.S. ports have been slow to embrace this technology, resulting in increased costs.

    This inefficiency is due to the inherent flaws of the publicly-owned port authority model. Under the government’s port authority, political considerations often override commercial criteria, leading to poor investment decisions. Insufficient or misplaced investments result in underutilization of existing port assets. Limited competition among ports reduces incentives for efficiency improvements.

    Privatizing port operations can introduce much-needed efficiency and competitiveness. Private operators have stronger incentives to streamline processes. They are more likely to make timely and appropriate investments in port infrastructure and technology. Competition among private companies can lead to more competitive pricing and reduced costs for port users, addressing a key factor in U.S. port inefficiency.

    The benefits of privatization are not merely theoretical. Evidence from successful port privatizations around the world demonstrates the potential for significant improvements. For instance, the privatization of the Port of Brisbane in Australia, completed in 2010 for 2.1 billion AUD, successfully achieved the Queensland Government’s objectives and overcame challenges associated with transitioning a government-owned monopolistic asset to the private sector.

    A study published in the NBER Digest found that when private equity funds acquire airports from governments, key performance metrics improve significantly. While airports and seaports are different, this study suggests that private ownership can lead to improved infrastructure management and operational efficiency in transportation hubs.

    Privatization does not necessarily mean a complete absence of government oversight. Various models of privatization, such as public-private partnerships, can maintain a degree of public involvement while harnessing the efficiency of private sector management.

    In conclusion, the inefficiency of U.S. ports under public ownership is a significant drag on the nation’s economy and competitiveness. By embracing privatization, we can unlock the potential of our ports, bringing them in line with global standards of efficiency and productivity. Simply by creating a more competitive port system that benefits businesses and consumers, we can provide a boost to American economic growth, reduce supply chain bottlenecks, and strengthen our position in the global market.

    Tyler Durden
    Tue, 12/31/2024 – 14:20

  • University Of Iowa To Cut Social Justice Classes As Student Interest Declines
    University Of Iowa To Cut Social Justice Classes As Student Interest Declines

    One day in the near future people will look back on this era as the moment that America snatched common sense back from the jaws of unmitigated insanity.  Get Woke, Go Broke is becoming a cleansing wind as thousands of companies across the US abandon DEI and social justice programs in an effort to avoid total financial collapse.  That said, the last organizations you probably expected to see dumping their woke initiatives are colleges and universities.  After all, these “institutions of higher learning” have been ground zero for the woke mind virus for decades.

    Surprisingly, even universities are now accepting the reality that social justice is a dead ideology walking.  The University of Iowa is following this trend after recently announced that it will be shutting down two social justice related departments and it will eliminate its social justice major as part of an effort to streamline and restructure some humanities offerings.

    Under the proposed plan, the college would close the departments of American Studies and Gender, Women’s, and Sexuality Studies, as well as the current majors in American Studies and in Social Justice, which have fewer than 60 students combined.  Administrators will centralize their remaining programs into one program, ostensibly due to lack of interest.

    The decision comes as Iowa passes a ban on DEI in public schools.  It is one of six states so far to do so, though it is unclear how much this applies to colleges and social justice related curriculum.  So far, it looks as if the University of Iowa is getting ahead of the coming changes.  Of course, progressive activists and leftist faculty of the school are not happy about this development.

    Numerous colleges have been quickly dropping DEI policies and programs in an effort to avoid public backlash (and lawsuits).  For example, the University of Michigan is rolling back multiple DEI initiatives including the practice of legally precarious “Diversity Statements” for anyone applying for a faculty position. The statements, which require a declaration from potential hires on how they will maintain DEI, are solicited from university employers on a case-by-case basis. (Michigan does not have a university-wide policy, but they do not admonish the practice either.)

    Diversity statements are used when weighing candidates for hiring, promotion or tenure, and represent a declaration of political fealty.  Those who refuse to provide a statement are unlikely to get a job or a promotion.   

    Michigan’s DEI programs have come under scrutiny after a Times investigation found that the university had spent a quarter of a billion dollars since 2016 on DEI efforts, 56% of which went to salaries and benefits for DEI staff. But Black student enrollment, for instance, has hovered near 5% for nearly a decade (it’s currently at 6.1%).

    Michigan’s regents have since publicly stated that they plan to reassess DEI efforts, including budgetary commitment. The eight-person regents board, made up of mostly Democrats, makes decisions on the university’s finances and policies.

    This kind of policy upheaval in academia was thought impossible only a couple years ago.  A landslide of anti-woke sentiment among the wider public has accelerated the shift way from what many consider to be a political refuge for zealots, degenerates and the mentally ill.  Though there is still much work to be done, the woke movement continues to die a well deserved death.

    Tyler Durden
    Tue, 12/31/2024 – 14:00

  • A New Year's Resolution: Let's Get The US Out Of The Censorship Business
    A New Year’s Resolution: Let’s Get The US Out Of The Censorship Business

    Authored by Jonathan Turley,

    On this New Year’s Eve, billions of people will gather with friends to ring in 2025 with the hope of a better year to come.  For the first time in many years, free-speech advocates have a reason to celebrate.

    With 2024, we will say goodbye to one of the most reviled offices in the Biden Administration: The Global Engagement Center. I discuss the Center in my recent book, The Indispensable Right: Free Speech in an Age of Rage as one of the most active components in the massive censorship system funded by the Biden Administration.  The demise of the GEC is a good start. However, like weight loss resolutions, it will take much more of a commitment if we are going to restore free speech in the United States.  It is time to make the ultimate resolution to rip out the censorship root and stem from our government.

    This month, the Biden Administration fought to keep the GEC funded, but Republicans refused to include it in the continuing resolution for the budget.  However, even with the closure of this one office, Biden will leave behind the most comprehensive censorship system in the history of the United States.

    Over the last three years, many of us have detailed a comprehensive system of grants to academic and third party organizations to create blacklists or to pressure advertisers to withdraw support for targeted sites. The subjects for censorship ranged from election fraud to social justice to climate change.

    I testified at the first hearing by the special committee investigating the censorship system funded or coordinated by the Biden Administration. It is an unprecedented alliance of corporate, government, and academic groups against free speech in the United States. The Biden Administration established the most anti-free speech record since the Adams Administration.

    House investigations showed the critical role played by government officials in “switchboarding,” or channeling demands for removal or bans in social media.  Officials evaded the limits of the First Amendment by using these groups as surrogates for censorship.

    Even with the elimination of the GEC, other offices remain in various agencies, including the Cybersecurity and Infrastructure Security Agency (CISA) in the Department of Homeland Security, which emerged as one of the critical control centers in this system.

    CISA head Jen Easterly declared that her agency’s mandate over critical infrastructure would be extended to include “our cognitive infrastructure.” That includes not just “disinformation” and “misinformation,”
    but combating “malinformation” – described as information “based on fact, but used out of context to mislead, harm, or manipulate.”

    These groups form a censorship consortium where the suppression of speech attracts millions in federal dollars.  Election Integrity Partnership (EIP) was created in association with Stanford University “at the request of DHS/CISA.”

    EIP supplied a “centralized reporting system” to process what were known as “Jira tickets” targeting unacceptable views. It would include not only politicians but commentators and pundits as well as the satirical site The Babylon Bee.

    Stanford’s Virality Project pushed to censor even true facts since “true stories … could fuel hesitancy” over taking the vaccine or other measures. Emails show government officials stressing that they could not be seen as “openly endors[ing]” censorship while other groups sought to minimize public scrutiny of their work.

    For example, one article featured the work of Kate Starbird, director and co-founder of the University of Washington Center for an Informed Public. In one communication, Starbird cautioned against giving examples of disinformation to keep them from being used by critics, adding “since everything is politicized and disinformation inherently political, every example is bait.”

    Likewise, University of Michigan’s James Park is shown pitching that school’s WiseDex First Pitch program, promising that “our misinformation service helps policy makers at platforms who want to . . . push responsibility for difficult judgments to someone outside the company . . . by externalizing the difficult responsibility of censorship.”

    The system has layers of interconnected grants and systems. For example, the EIP worked with the Global Engagement Center that contracted with the Atlantic Council in censorship efforts.

    The censorship system included scoring groups through a grant from the National Endowment for Democracy (NED) to the British-based Global Disinformation Index (GDI). The index targeted ten conservative and libertarian sites as the most dangerous sources of disinformation, including sites like Reason which publishes conservative legal analysis. Conversely, some of the most liberal sites were ranked as the most trustworthy for advertisers.

    The system is still in place, but on December 23, 2024, the GEC will close its doors. That is something to celebrate but not something to take as great comfort. This is a redundant and overlapping system created precisely to allow for such attrition.

    Year ago, some of us wrote about the creation of the infamous Disinformation Governance Board at Homeland Security under its so-called “Disinformation Nanny,” Nina Jankowicz. When the Biden administration caved to public outcry and disbanded the Board, many celebrated. However, as I previously testified), the Biden Administration never told the public about a far larger censorship effort in other agencies, including an estimated 80 FBI agents secretly targeting citizens and groups for disinformation.

    The system has functioned like a multiheaded hydra where cutting off one head only allows two more to grow back. These censors will not simply walk away and become dentists or bartenders. They have a skill set for censorship and this is now a profitable industry supporting scores of people who now market themselves as “disinformation specialists.”

    Shutting down the GEC will eliminate a $61 million budget and 120 employees. However, these employees will find ample opportunities not just in other agencies but in academia and state agencies. There are also pro-censorship sites like BlueSky, which are becoming safe spaces for liberals who do not want to be “triggered” by opposing views . (Notably, BlueSky hired a former Twitter employee who was fired after Musk cleaned out at what is now X).

    They are not going anywhere unless the Trump Administration and the Congress makes free speech a priority in eliminating each of these funding sources.

    As I wrote in the book, we need to get the United States out of the censorship business by passing a law barring any federal funds for the use of censorship, including grants to academic and NGO groups.

    Rooting out this censorship system will require a comprehensive effort by the new Trump Administration. So here is a resolution that I hope many in the Trump Administration will share: let’s get the United States out of the censorship business in 2025.

    *  *  *

    Jonathan Turley is the Shapiro professor of public interest law at George Washington University and the author of “The Indispensable Right: Free Speech in an Age of Rage.”

    Tyler Durden
    Tue, 12/31/2024 – 13:40

  • Market Outlook For 2025: Stuck Between An Inflationary Rock And An Economic Hard Place
    Market Outlook For 2025: Stuck Between An Inflationary Rock And An Economic Hard Place

    Submitted by QTR’s Fringe Finance

    It is once again that time of year where I lay out what I believe will be the broader themes in the market for the year to come and identify the names I’ll be watching in particular in the year to come.

    Once again, last year, my stocks to watch finished in the positive on an equal-weighted basis but failed to keep pace with the S&P 500, which is basically now made up of just the Magnificent Seven stocks. My 24 names I was watching for 2024 finished the year up 18.5% on an equal weighed basis versus 25.8% for the S&P 500, as of market close 12/27/2024. You can view these names here. (Disclaimer: I am terrible at math and didn’t double check these numbers at all.)

    The three names I added in August, on an equal weighted basis, outperformed the S&P by 63.3% and were up on average 71% in a few short months.

    The vibe going into 2025 is interesting. For those who have been paying attention, market breadth over the last two weeks has been awful, with decliners outpacing advancers for something like 10 or 11 days in a row. The top 10 S&P 500 names are the only stocks driving the market gains. 

    Thanks to our friends at Zero Hedge, we have Morgan Stanley equity strategist Michael Wilson’s take on breadth. He wrote last week:

    One of the key technical factors I’ve used over time to gauge the health of equity markets is the breadth of participation by the underlying stocks.

    Recently, we have fielded many questions from clients about breadth, as many have noted that December has exhibited some of the worst breadth in history while stock indices have remained near all-time highs. This anomaly is unusual, but some have concluded that breadth may not matter as much as in the past as a signal for price.

    In my experience, ignoring breadth is usually a bad idea, and this past week suggests that breadth has anticipated what we learned on Wednesday – i.e., the Fed may not be able to deliver as much accommodation as markets were expecting.

    Ergo, bonds are signaling something is “out of whack” in markets. Zero Hedge again notes that this is “the first time in history when 100bps of rate cuts raised 10Y yields by 100bps” (generally, the two move together directionally, as you can see in the chart).

    Meanwhile, in terms of quelling euphoria, fund managers are underweight cash and expectations have never been higher for markets:

    To me, this bodes like a rocky year for the market. Heading into 2024, I felt pretty confident about what the geopolitical risks were and what the macro risks were heading into the year. 2025 could surprise some people, in my opinion. I think many people are automatically expecting another 30% upside year for the S&P 500 just because President Trump is in office, and he has guaranteed to deregulate and lower taxes. After all, this is what happened during Trump’s first term as President, up until COVID, so why would anybody expect differently?

    But this year, the Trump tailwind is going to have to face off with several headwinds rooted in reality. The first of those headwinds is that the Fed has not solved the inflation problem—something I laid out and talked about in this article last week. One of my favorite analysts, Charlie Bilello, notes that “US Core CPI has been above 3% for 43 straight month[s], the longest period of elevated inflation in the US since the early 1990s.”

    (Charts from Charlie Bilello on X — a great follow for financial & macro charts).

     

    At this point, it still looks like there’s two options: the Fed is going to have to surrender to higher inflation rates or allow an deflationary depression to take place.

    I think a little bit of both will happen. Put simply, I think we’re going to see a significant amount of volatility this year in markets at some point, and then I think Trump will urge the Fed to cut rates rapidly, which they will do, at which point inflation will once again start to move higher, causing the Fed to capitulate to the fact that 2% is no longer going to be the inflation target. This is a series of events I predicted a couple of years ago when the first Fed started hiking during an appearance on Palisades Gold Radio.

    The main risk I see heading into the new year is nothing more than just math. We simply can’t continue to have positive real rates until further notice without there being a larger shock to the financial system at some point. It is true that we have survived this long with rates at high levels when compared to recent rates, but this will not—and cannot—last, in my opinion.

    As you read this heading into 2025, the gears of the economy continue to slow, with unemployment numbers slowly ticking higher, delinquencies in all types of credit still rising, and personal savings getting zapped as Americans continue to borrow to fund discretionary purchases.

     

    BLS Unemployment Rate

    There is no doubt in my mind that as long as interest rates stay on this path, we are going to run into a very large iceberg at some point, triggering a change in market psychology that will begin a nationwide deleveraging.

    Sure, there was a lot of talk about a “soft landing” this year, but can it really be considered a soft landing when inflation is still at 2.7%?

    We all thought a soft landing was 2.0% inflation, not 2.7% inflation, with the economy then returning to normal.

    Anything but has happened. The economy is slowing, but inflation is staying persistently high. This is a bona fide prescription to wind up between a monetary policy rock and an economic reality hard place in the upcoming year. Remember, the market is extremely overvalued, in my opinion.

    As I pointed out (for the millionth time) last week, the Buffett Indicator (market cap/GDP) is nearing all time highs.

    The good news for the upcoming year is that I see geopolitical tensions cooling off a little. With Trump at the helm, I believe there will be a rejiggering of diplomacy globally, and that a lot of the geopolitical risk we saw with Joe Biden in office — and that I highlighted as key risk heading into 2024 — will start to cool heading into the new year.

    This may act as a tailwind for the broader market, but I’m generally focused on it as it relates to the same defense stocks I liked for 2024, which I am not as excited about heading into the new year. Between geopolitical tensions cooling and this government supposedly looking for ways to cut spending, I can’t envision defense stocks having as great of a year as they had last year—so you won’t see them on my list this year.

    As I said last week, this market is so overvalued and hyperextended that I would be watching cryptocurrencies as the first canary in the coal mine for a potential pullback. In my opinion, they will lead the way.

    Keeping these macro trends in mind, it wasn’t as easy to find ideas I’d like to watch for the upcoming year. But, as I always do, I gave it my best…(CLICK HERE TO READ ALL 25 NAMES I’M WATCHING FOR 2025).

    QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author.

    This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

    Tyler Durden
    Tue, 12/31/2024 – 13:20

  • Ever Decreasing Circles – Why The Worldwide Banking Ponzi-Scheme Must Be Reset
    Ever Decreasing Circles – Why The Worldwide Banking Ponzi-Scheme Must Be Reset

    Submitted by Luke Eastwood,

    Since central banks became a ‘thing’ back in the early 20th century, we have seen a massive decline in the national finances of most countries around the world. Of course, predating this was the formation of the Bank of England and its role in the financing of the British empire, but of more significance to our current situation is the rise of America, the formation of the Federal Reserve, the Bank of International Settlements (BIS) and the World Bank Group (post Bretton Woods Conference) and the International Monetary Fund (IMF).

    One could argue that all of these institutions exist not for the benefit of the world or humanity but to deprive nation states of their income and ownership of their resources, transferring both into the hands of private corporations and their shareholders. So today we are at a point in time where most countries are hideously in debt, many with debts far exceeding the dangerous 100% level of debt to gross domestic product (GDP) ratio. While Japan has far exceeded this for decades (currently 260%+) and not totally collapsed, it has proven to be a massive drag on any country, with huge amounts of money being wasted on interest payments alone.

    The USA is of course fast catching up with Japan, or at least appears to be trying to, in terms of increasing its debt ratio. By any metric such failures to address ever-increasing debt are destined to lead to an implosion eventually, with a contraction into ever decreasing circles. There is not enough income in the world to pay back all of the money that is owed, so more and more debt is issued to continue paying the ever-increasing interest on the ever-increasing debts.

    This imbecilic mistake is the kind of financial mismanagement that 10-year-olds can comprehend, yet this is a worldwide phenomenon that only a few countries have avoided (Russia being a case in point with approx. 20% debt to GDP). However, this situation has been allowed to occur and persist for decades now. In personal finances the same situation has occurred for most people.

    When I was in a child, in the 1970s, many people did not have a bank account, credit was limited to expensive white goods in some shops and a ‘slate’ with the local grocer, that had to be cleared or at least substantially reduced at the end of the month. The idea of accumulating debt of 3-10 times your annual household income was just not an option for most people. This changed with the arrival of ‘personal banking’ in the 1980s, eventually leading to the current situation, where most families live paycheck to paycheck because they have maxed-out their borrowing with banks and credit card companies – meaning that a massive portion of their incomes is wasted on debt payments and the interest accrued.

    Of course, such situations cannot continue forever, which is why the World Economic Forum (WEF) came up with their heinous Great Reset plan, to deal with the inevitable ‘end of the road’ when the financial ‘can’ cannot be kicked any further and collapse is unavoidable. In fact, one might conclude the WEF plan includes an induced or controlled collapse, in preparation for their neo-feudal and totalitarian Great Reset to be rolled out across a largely unsuspecting world.

    To believe that we can continue as we are indefinitely is pure foolishness and a reset of sorts is both essential and inevitable in an unsustainable situation such as the world’s financial decline. On all 3 levels – national, commercial and personal finance we have a zombie apocalypse in progress already, but one that is hardly recognized. In all three areas, the ‘walking dead’ continue to miraculously function, based on confidence alone I have concluded. However, over-leveraging is already at critical levels and eventually concealing the zombie state of finances will no longer be possible, that time is approaching very soon.

    At this point we are left with few realistic options. 

    To me, at least, the worst option is to accept the WEF Great Reset plan, due for implementation in full by 2030, this is no more than a wholesale theft of private equity and income and enforcement of a world-wide digital prison for the middle and working (or ex-working) classes. Successful implementation of the Great Reset is nothing short of a totalitarian pseudo-Communist dictatorship. This would be a neo-feudal, fascist world government and a total disaster for the bulk of humanity, for however long it survived before an inevitable revolt against the ‘Elites’ who seek to usher it in.

    To do nothing, is an option, but given the attempts by the WEF, if their plan fails then we will still be in a hopeless situation of bankrupt countries, insolvent companies, insolvent/defunct financial institutions and vast numbers of individuals with almost none or no available income, or facing bankruptcy/insolvency.

    While this may be less horrific than the Great Reset, it would be chaotic, destructive and probably horrific as well.

    The only other sensible option I can see is a default/debt cancellation reset. While this would be a catastrophic situation for the BIS, the IMF and the World Bank Group and all their investors who would lose out of their continued income flows, it would be a reprieve for more-or-less everyone else. If one country defaults it can be a disaster for that country, but not always – as was the case for Iceland. If every indebted country defaulted at the same time, then it would bankrupt the BIS, World Bank, IBS and the owners of central banks and the Federal Reserve. However, if the entire system was reset to zero and money re-established based on some basket of assets or resources, then trade and commerce could resume. Resuming a gold-backed currency has been touted greatly, but perhaps currencies based on a wider selection of physical resources might be more relevant for today? An updated asset-backed form of finance might include precious metals, rare-earth elements, energy resources, etc. Once capital is re-established from a position of zero debt, with all previous debt erased, a more sensible model for borrowing and issuance of debt could be established – perhaps with simple instead of compound interest and strict limits on leverage levels and duration?

    The whole current situation only became possible because of an insane desire for outrageous profits instead of substantial profits, which has led to a bizarre form of cannibalism of human society. Eventually when you have eaten everybody else you are forced to eat your own limbs and face your own inevitable death – but the ‘Elites’ who rigged up this whole Ponzi-scheme failed to see that they too would end up victims of their own success in the end. In ancient Babylon the debt problem was solved by debt cancellation on the installation of a new ruler to replace the dead king. This rather drastic measure was rather simplistic but as the timescale was relatively short, it did solve the problem of unsustainable lending and out of control debt obligations.

    What I am suggesting has no-doubt been proposed by others – it is in effect a reset, perhaps a Humane Reset, rather than a Great Reset? It would seek to preserve the wealth, assets and financial viability of nations, commercial organisations and individuals, preventing a massive transfer of assets to a few individuals who own the Ponzi-scheme. In fact, the only real losers would be the owners of the BIS, IMF etc, who would no longer have any income on their balance sheets, only loans that have become defunct. It would be an opportunity to take stock, return to sound financial practices and enable commerce to recommence on a more equal, fair and truly sustainable footing. Surely, in the long-run, a more calibrated and reasonable financial system, with permanent fiscal checks and balances, is the only practical means of enabling human society to function in a beneficial, rather than ultimately self-destructive way?

    We must ‘grasp the nettle’ regarding the impending financial collapse, that cannot be far away. If we do not come up with a viable alternative plan, and very soon, we will be faced with a choice of the Great Reset or an unpredictable and chaotic implosion. Neither of these choices is going to be good for human civilization, so a credible alternative must be formulated while there is still time to implement one!

    Tyler Durden
    Tue, 12/31/2024 – 13:00

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Dec 31

Today’s News 31st December 2024

  • Celebrating The Death Of Woke And The Resurrection Of Common Sense
    Celebrating The Death Of Woke And The Resurrection Of Common Sense

    Authored by Brandon Smith via Alt-Market.us,

    Years ago when the woke takeover of government and popular media was hitting a crescendo, I often struggled to put the horrifying development into the proper words. That is to say, woke isn’t just about DEI or blaming the “patriarchy” – These things are tools that leftists use, but the goal of the movement has always been the destruction of the western world.  Woke represented the perverse inversion of every aspect of western society and human morality – To explain such evil requires a concise analysis.

    In the movie ‘Platoon’, directed by Oliver Stone, Charlie Sheen’s character is a young soldier cast into the nightmare of the Vietnam War. Regretting his decision to volunteer, he makes a disturbing observation:

    “Hell is the impossibility of reason.  That’s what this place feels like.  Hell.”

    This description perfectly summarizes the core aspirations of the woke movement; to create a world where all reason is impossible. A world where all logic and critical thought are admonished. A world where lies are celebrated and the truth is treated as treason. A society that’s not allowed to claim its own heritage because it has been labeled “racist”. A culture perpetually walking on eggshells as leftist hall monitors loom over us, gatekeeping our every moment. What we witnessed as a society over the past decade has been a calculated nuclear attack on the very fabric of the human soul.

    Some of us saw these developments within the PC movement coming. However, it’s a very different experience to predict a calamity vs living through that calamity. To see a living breathing monster in action can be daunting.

    There was a point, I believe, in 2021-2022 where we came within a razor’s edge of civil war. You could feel it in the air; millions of Americans were fed up and ready to wipe the political left off the face of the Earth (such a conflict might still happen). I don’t think progressives realize how lucky they are that conservatives are patient.

    At bottom, the outcome of the 2024 election represents a total condemnation of the woke religion. Even if you don’t like Donald Trump or the GOP in general, there is no denying that the Democrats lost because they embraced far-left zealotry. Kamala Harris, a DEI candidate, is the ultimate example of Get Woke, Go Broke (her campaign spent over a billion dollars, putting them in the red, only to lose the presidency anyway).

    In light of this great turning point in our cultural history and because 2024 is quickly coming to a close, I just want to relate a few observations on why the woke cult lost and applaud some of the much needed changes that are happening in our nation’s return to normalcy.

    Celebrities And The Media Don’t Matter Anymore

    The worship of corporate icons has ended. Hollywood is dying. Most studios are now scrambling to get rid of their DEI programs and put out content that appeals to conservatives (or at the very least, content that doesn’t piss us off). Actually putting out products that make your customers happy instead of acting like the customers owe you something? Imagine that…

    For generations Hollywood and the media have treated Americans like a captive audience beholden to the establishment. In recent years, though, a new trend developed in which companies simply stopped trying to cater to audiences and began acting as if we are REQUIRED to consume their woke content. Communists despise the free market, not because of wealth inequality, but because the existence of consumer choice forces the elites to serve the public rather than the public serving them.

    This behavior has destroyed the old celebrity edifice and made such people obsolete. So-called “journalists” have also met with a dire fate as their kingdom of spin crumbles. They can’t control the news if no one listens to them anymore. It’s truly a beautiful thing.

    Democrats Realize Abortion Is Not A Winning Issue

    During the election campaign the vast majority of Democrat Party focus was fear mongering over the loss of access to abortion. I’m not sure when killing babies became some kind of sacred liberty for progressive women – For the longest time it was treated as a shameful but convenient way to avoid responsibility for one’s actions; because that’s what it is.

    It’s not “health care”.  It’s not bodily autonomy (because the rights of the baby are ignored). It’s not a safety net to prevent death during childbirth because abortion laws don’t interfere with that option anyway. It’s always been about birth control for irresponsible women who refused to use preventative measures or close their damn legs.

    The sexual revolution and abortion go hand-in-hand. You can’t encourage sexual promiscuity as a social norm without the consequences involved, unless you also allow people to kill those consequences. But I’m getting the sense that newer generations are starting to see the circular destructive nature of this dichotomy. I think they are getting sick from it and they’re looking for a little purity.

    This is why abortion ranked near the bottom of almost every poll of most important issues to Americans during the 2024 election. Leftists claimed there would be a societal uproar over abortion rights once Roe v Wade was overturned. It never happened. They said there would be a massive “blue wave” of Democrat election victories. The opposite occurred. In the end, abortion access just doesn’t matter that much.

    The Transing Of Children Is A Red Line For Most Americans

    Conservatives said it over and over again – Leave the kids alone. The leftists refused to listen. The effort to introduce gender ideology into schools and children’s entertainment was expansive. Not only did they try to confuse children about their basic genetic make-up and biological roles, they also tried to expose kids to sexualized discussions to the point of grooming.

    I’ve said it before and I’ll say it again, the moment the left went after the kids was the moment they lost the culture war. That’s when the mask came off and centrists realized that everything conservatives were warning about when it came to progressives was true. That’s when the Democrats alienated the middle-road voters and the independents.

    It does make sense in a Machiavellian way; a large percentage of woke activists don’t have kids and probably never will. In order to pass on their cultism they have to steal YOUR kids and brainwash them. It’s the only way progressives can perpetuate their species.

    Nobody Cares About Making A Woman President

    Would people vote for a woman for president if she was honest, forthright, intelligent and logical? Probably, but the Democrats don’t have such candidates and the idea of overlooking basic competence and honesty just for the sake of having a woman in the White House is not appealing to the public. They don’t care about identity politics, which is why Hillary Clinton and Kamala Harris were both crushed by Donald Trump.

    The political left has long sought to force their own made-up social taboos on the rest of us, from personal identity to race to gender to sexual orientation. What they don’t seem to grasp is that people want candidates with a plan. Nothing else matters and “victim status” is irrelevant.

    Have ancestors that were slaves? No one cares. Are you gay? Irrelevant. Do you think you should win simply because you’re a woman and women are historically less represented in government? Maybe you’re special, maybe you’re not, but there’s nothing special about a career victim.

    Open Borders Ideology Is Dead

    Along with the economy, the border crisis issue was the most important factor on the minds of Americans during the election. Housing expenses are going through the stratosphere.  It’s not surprising that the public doesn’t want a bunch of third world parasites using government subsidies to snake homes out from under native Americans and drive up rental costs.

    Illegals sneaking into the country also work for lower pay, often under the table, driving down wages for citizen workers and craftsman and making industries like construction less enticing. Yes, Americans would do these jobs, just not for a 30% to 50% wage cut. And since tens of millions of migrants have flooded into the US, the fact that they work for less doesn’t help with prices. The massive extra demand actually sucks up supply and inflates prices further.

    The progressive notion of the “American melting pot” no longer holds any magic for the average American.  The “migrant dream of the 1920s is irrelevant today.  We don’t want other cultures flooding the west, and we don’t want millions of people that don’t intend to assimilate. Leftists still don’t understand that their open border narrative has failed.  Nationalism and protectionism are the winning positions.  No foreigner is entitled to American access.  If they get it, they should be thanking their lucky stars instead of acting is if it’s something they’re owed.

    Comedy Is Making A Comeback

    Remember when calling your friends gay or retarded was normal and no one threw a tantrum over it? Remember when comedy equaled tragedy + time and people knew how to laugh in the face of adversity?  Well, we’re bringing that tradition back and there’s nothing the woke pearl clutching losers can do about it.

    It might not sound very important, but anyone familiar with the writings of Erasmus, including his ‘Praise Of Folly’, knows the problems that arise when an ideological movement is incapable of laughing at itself. Humor often requires self examination and a truthful eye, which is something authoritarians greatly fear. If you can laugh at the establishment, then the establishment loses power.

    There have been times when Christianity was incapable of self reflection and humor and it hurt conservatives as a whole. Today, though, most humorless people reside among progressives.  They have dominated our cultural institutions for many years because they used to respect humor.   Finally, thanks to the independence of online content creators, the cultural power has been taken away from leftist elites and is returning to the people.

    I’m noticing, with great relief, that most people are starting to smile again. It’s slow and it’s subtle, but comedians are far less inclined to walk on eggshells these days. It’s a big change from only a few years ago. Never forget, the left tried to take our laughter away and control what we’re allowed to make fun of. Without humor, society crumbles.

    There are many other shifts in America that are making daily life bearable again and I can’t cover them all here. My point is that these wonderful steps away from the woke chasm are worth celebrating. To be sure, there is more work to be done and a lot of damage to be mended. However, take heart in the knowledge that most of the country is finally awake and we are, in one great chorus, opposed to wokeness.

    *  *  *

    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
    Mon, 12/30/2024 – 23:25

  • What Made The News In America In 2024
    What Made The News In America In 2024

    This chart lists the top nine U.S. news stories of 2024, according to Google’s Year in Search. In addition, Visual Capitalist’s Pallavia Rao visualized the popularity of one developing news story.

    ℹ️ Google looks at news searches between December 31st 2023–December 8th, 2024 when defining this list. Popularity peaks in this chart are not normalized across news stories.

    In case this year has felt particularly long, we also did one for 2023. It’s a useful refresher of what had everyone talking exactly 12 months ago.

    Politics and Crime Kept Americans Googling

    Unsurprisingly in an election year three of the top stories for America centered around politics.

    The first of course: an assassination attempt on President Donald Trump in July. The second: the big election in November.

    Another story that had Americans googling for context: Project 2025. This conservative plan released by the Heritage Foundation for the next Republican administration went largely unnoticed until Democrats began talking about it.

    It broadly defined four policy aims. One in particular which raised alarm, wanted to place the federal bureaucracy under direct Presidential control. It also proposed withdrawing a popular abortion pill from the market and to enforce a law that stops the drug from crossing state borders.

    But perhaps the biggest news story of all hit in the last week of Google’s Year in Search analysis, when a gunman shot and killed UnitedHealthcare CEO Brian Thompson.

    A 25-year-old, Luigi Mangione, has been arrested in relation to the assassination.

    More importantly, the assassination and the subsequent arrest has spurred conversation around America’s healthcare industry. The data behind denied claims (one-in-five) as well as large medical costs (the leading cause of bankruptcy) has added to the conversation.

    Looking for other related news with the health insurance industry? Check out: America’s Largest Insurers by State for a full breakdown.

    Tyler Durden
    Mon, 12/30/2024 – 23:00

  • Engineering Reality: A Century Of Cultural Control, Part II – Capturing The Counterculture
    Engineering Reality: A Century Of Cultural Control, Part II – Capturing The Counterculture

    Authored by Joshua Stylman via substack,

    A Century of Cultural Control From Edison’s Monopolies to Algorithmic Manipulation

    Author’s Note: For years, I understood advertising was designed to manipulate behavior. As someone who studied the mechanics of marketing, I considered myself an educated consumer who could navigate rational market choices. What I didn’t grasp was how this same psychological architecture shaped every aspect of our cultural landscape. This investigation began as curiosity about the music industry’s ties to intelligence agencies. It evolved into a comprehensive examination of how power structures systematically mold public consciousness.

    What I discovered showed me that even my most cynical assumptions about manufactured culture barely scratched the surface. This revelation has fundamentally altered not just my worldview, but my relationships with those who either cannot or choose not to examine these mechanisms of control. This piece aims to make visible what many sense but cannot fully articulate – to help others see these hidden systems of influence. Because recognizing manipulation is the first step toward resisting it.

    This investigation unfolds in three parts: First, we’ll examine the foundational systems of control established in the early 20th century. Next, we’ll explore how these methods evolved through popular culture and counterculture movements. Finally, we’ll see how these techniques have been automated and perfected through digital systems.

    Capturing the Counterculture

    In Part One, we traced the development of structures of oversight from Edison’s physical monopolies through Tavistock’s psychological operations, witnessing how corporate and banking interests and intelligence agencies converged to shape public consciousness. Now we’ll see how these methods reached new sophistication through popular culture, beginning with the British Invasion of the 1960s, which demonstrated how thoroughly orchestrated music movements could reshape society.

    The Beatles and Rolling Stones weren’t just bands – as researcher Mike Williams has extensively documented in his analysis of the British Invasion, their emergence marked the beginning of a systematic and profound cultural transformation. Williams notes that even the term ‘British Invasion’ itself was telling – a military metaphor for what was ostensibly a cultural phenomenon, perhaps Tavistock telegraphing its operation in plain sight. What seemed like playful marketing language actually described a carefully orchestrated infiltration of American youth culture. Through hundreds of hours of meticulously documented research, Williams builds an overwhelming case that the Beatles served as the spearhead of a broader agenda that used albums like Sgt. Pepper and the Rolling Stones’ Their Satanic Majesties Request to deliberately steer youth culture away from traditional values and family structures. What seems tame by today’s standards represented a calculated assault on social norms, initiating a cultural transformation that would accelerate over the following decades.

    Williams’ research goes further, presenting compelling evidence that the Beatles were essentially the first modern ‘boy band’ – their image carefully crafted, their music largely written and performed by others. This revelation transforms our understanding of the British Invasion: what appeared to be an organic cultural phenomenon was in fact a meticulously orchestrated operation, with professional musicians and songwriters behind the scenes while the Beatles served as appealing frontmen for the massive social engineering project.

    As a lifelong music fan and Beatles devotee, confronting this evidence initially felt like sacrilege. Yet the pattern becomes undeniable once you allow yourself to see it. While debate continues over specific details like the Frankfurt School’s Theodor Adorno’s alleged involvement in crafting Beatles songs – a claim that has both passionate proponents and critics – what’s clear is that the operation bore all the hallmarks of Tavistock’s social engineering methodology.

    The deliberate crafting of a “good boys/bad boys” (Beatles/Rolling Stones) dialectic offered controlled choices and allowed “both sides” to advance the exact same desired cultural shifts. Andrew Loog Oldham masterfully crafted the Stones’ ‘bad boy’ image using public relations techniques reminiscent of Edward Bernays’ methods (the ‘father of public relations’ who pioneered mass psychological manipulation) – creating desire through psychological insight and manufacturing cultural rebellion as a marketable commodity. As Oldham himself acknowledged in his autobiography, he wasn’t just selling music but rather ‘rebellion, anarchy, and sex appeal wrapped up in a neat package’ – deliberately creating a myth for people to buy into. His sophisticated understanding of cultural branding and mass psychology reflected the broader methods of influence that were reshaping media and public opinion during the era.

    Behind Mick Jagger’s rebellious persona lay an education at the London School of Economics, suggesting an insider with a deeper understanding of power systems at play. This assiduous development of image extended to the performers’ inner circle – notably Jagger’s girlfriend Marianne Faithfull, herself a successful singer and socialite, whose father was an MI6 officer who interrogated Heinrich Himmler and whose maternal grandfather had Habsburg Dynasty roots. The Stones’ finances were managed by Prince Rupert Loewenstein, a Bavarian aristocrat and private banker whose noble lineage and financial circles intersected with the Rothschild dynasty – another example of establishment figures behind seemingly anti-establishment movements.

    Even the record label itself fit the pattern: EMI (Electric and Musical Industries), which signed both the Beatles and the Rolling Stones, began as a military electronics company. During World War II, EMI’s research and development contributed significantly to Britain’s radar program and other military technologies. This fusion of military-industrial interests with cultural production was no coincidence – EMI’s technical expertise in electronics and communications would prove valuable in both warfare and the mass distribution of cultural content.

    These carefully managed British experiments in cultural control would soon find their perfect laboratory in America, where an unlikely convergence would reshape youth culture and the family unit forever. Britain had pioneered these methods of cultural orchestration through music, embedding intelligence ties into the British Invasion, but America would refine and scale these techniques to unprecedented levels.

    The Laurel Canyon Laboratory

    In the hills above Hollywood between 1965-1975, as journalist Dave McGowan first documented, an extraordinary phenomenon: the emergence of a new music scene centered in Laurel Canyon, where an improbable concentration of military and intelligence family connections converged to reshape American youth culture. This convergence was no accident – as anti-war sentiment grew strongest in academic circles, this military-intelligence nexus helped redirect potential resistance into a drug-saturated counterculture focused on ‘dropping out’ rather than organized opposition to the war.

    The military/intelligence connections within Laurel Canyon were striking.

    • Jim Morrison’s father commanded the fleet during the Gulf of Tonkin incident that launched the Vietnam War.

    • Frank Zappa’s father was a chemical warfare specialist at Edgewood Arsenal, a key human experimentation research site.

    • David Crosby, scion of the Van Cortlandts and Van Rensselaers—American royalty—descended from a lineage of political power that included senators, Supreme Court justices, and Revolutionary generals.

    • James Taylor, a descendant of Massachusetts Bay Colony settlers, grew up in a family shaped by academia and military service, including his father’s role in Operation Deep Freeze in Antarctica.

    • Sharon Tate, daughter of Army intelligence officer Lt. Col. Paul Tate, moved through these circles before her death.

    • Dennis Hopper, whose father was OSS, directed Easy Rider with Peter Fonda, packaging counterculture rebellion for mainstream consumption.

    The transformation was systematic – from the post-war optimism and unity embodied by JFK’s New Frontier to the calculated fragmentation that followed his assassination. This mass shared public trauma, perfectly suited to Tavistock’s methods of social engineering through psychological shock, marked the end of genuine optimism. The Boomers, raised with unprecedented prosperity and inspired by Kennedy’s vision of a New Frontier, saw their potential for authentic social and political transformation redirected into carefully crafted cultural movements that would shape subsequent generations. These pervasive connections between military-intelligence figures and countercultural leaders – from Morrison’s admiral father to Zappa’s chemical warfare specialist parent to Crosby’s political dynasty – reveal a clear pattern: the systematic co-opting of youth culture by establishment powers.

    The timing of Laurel Canyon’s emergence as a counterculture hub coincided with the CIA’s MK-Ultra’s mind control program’s peak years of operation. This was no coincidence. The same organizations experimenting with consciousness control through chemical methods, such as LSD, were simultaneously embedding themselves in cultural programming efforts. The convergence of these strategies in Laurel Canyon laid the groundwork for what would soon become the full-scale fusion of music and psychedelics—a calculated effort to thwart organically arising political resistance by channeling it into a movement centered on personal transcendence rather than effective collective action.

    Programming the Revolution

    Building on the psychological and cultural groundwork established in Laurel Canyon, the fusion of music and psychedelics marked the apex of consciousness manipulation. This phase of mass cultural programming strategically redirected genuine political resistance into artificially managed cultural channels, steering dissent away from organized movements and into fragmented, drug-fueled withdrawal.

    Even the Grateful Dead, the quintessential embodiment of California counterculture, which cultivated a devoted following that defined a generation’s search for community and meaning, were intricately tied to mechanisms of societal control. Their manager Alan Trist, was not only the son of Tavistock founder Eric Trist but was also present at the pivotal car accident that killed Jerry Garcia’s childhood friend, Paul Speegle—a tragedy that set Garcia on the path to forming the band. Garcia’s military connection adds another layer of intrigue: after stealing his mother’s car in 1960, he was offered the choice between prison or military service. Despite repeatedly going AWOL from Fort Ord and the Presidio of San Francisco, Garcia received only a general discharge—an unusually lenient outcome that raises questions about potential official connections. Meanwhile, the band’s lyricist, Robert Hunter, participated in government-funded LSD experiments tied to the broader psychedelic research of the era. Serving as the house band for the CIA-connected Merry Pranksters, the Grateful Dead played a key role in steering anti-war sentiment toward psychedelic retreat, aligning the counterculture with state-sponsored agendas in ways that warrant deeper scrutiny.

    This alignment of counterculture and establishment interests proved wildly effective. As anti-war sentiment grew strongest in academic circles – where genuine resistance could threaten structural power – the emergence of the hippie movement effectively redirected opposition into a youth counterculture saturated with drugs and focused on escapism rather than organized resistance. As the war machine escalated operations in Vietnam, young Americans were guided toward cultural dissolution – a perfect formula for neutralizing meaningful peace movements. The same military-intelligence complex that drove the war was simultaneously molding the culture that would prevent effective resistance to it.

    Timothy Leary’s role in this transformation was crucial. Before becoming the psychedelic movement’s most influential voice, he had been a West Point cadet and would later serve as an FBI informant. His advocacy for psychedelics emerged alongside the CIA’s own exploration of substances like LSD during the MK-Ultra era. John Lennon later reflected on this confluence with biting irony: ‘We must always remember to thank the CIA and the Army for LSD. That’s what people forget… They invented LSD to control people and what they did was give us freedom.’ This seeming backfire of the program masked a deeper success – dismantling potential resistance through the promotion of chemical disengagement. By popularizing the mantra “turn on, tune in, drop out,” Leary advanced this agenda. This redirection not only fragmented youth opposition, but weakened their ties to traditional support systems such as families and communities – exactly the kind of social atomization that would make future control easier.

    The overlap between government-funded LSD research and the emerging music scene was far from coincidental. While MK-Ultra explored chemical means of consciousness control, the music industry was simultaneously perfecting cultural methods—with bands like the Grateful Dead bridging both worlds through their ties to government-backed LSD experiments and the rapidly growing counterculture.

    Redirecting Resistance

    Patterns of government leadership connections to musical movements weren’t limited to the psychedelic era. As popular music evolves through new genres and decades, the same underlying relationships continue between establishment power and cultural influence.

    In the hardcore punk scene, figures like Ian MacKaye (Minor Threat, Fugazi) whose father was in the White House Press Corps and present at JFK’s assassination, would ironically become one of the most fiercely independent figures in music, pioneering the DIY ethic through his label Dischord Records. His establishment connections extended back further – his grandfather Milton MacKaye was a magazine writer and executive with the Office of War Information. His autonomous approach seemed to resist the system, yet his establishment connections highlight a broader pattern. Even in alternative rock, Dave Grohl’s father served as special assistant to Senator Robert Taft Jr. during the Reagan administration. Madonna, who became the defining pop star of the 1980s, was the daughter of Tony Ciccone, an engineer who worked on military projects for Chrysler Defense and General Dynamics Land Systems.

    Having parents involved in government, defense, or intelligence work doesn’t imply wrongdoing by these artists, however, these examples represent just a fraction of the documented connections between counterculture figures and power structures. The pattern extends across decades and genres, with hundreds of similar cases suggesting not coincidence but systematic design – from jazz musicians backed by banking families to punk rockers with government connections to mainstream pop stars from defense industry families. These pervasive ties raise fundamental questions about the relationship between ruling class power and cultural influence.

    Perhaps no single family better exemplifies the deliberate fusion of intelligence operations and cultural production than the Copelands. Miles Copeland Jr., who helped found the CIA and orchestrated coups across the Middle East, detailed the psychological strategies behind this integration in his book The Game of Nations. In that revealing text, Copeland explicitly outlined the manipulation methodology that would shape both intelligence operations and popular culture: “In the world of covert operations, nothing is what it appears to be. The key is not just controlling actions, but controlling the perception of actions.”

    His son Miles Copeland III became a key figure in the music industry, managing influential acts like The Police (with brother Stewart as drummer) and founding I.R.S. Records. Through I.R.S., Copeland would shape alternative music’s mainstream emergence, managing acts like R.E.M. fronted by Michael Stipe, another military child. The Copelands represent a crucial bridge between covert operations and cultural production, demonstrating how intelligence methodologies evolved from direct intervention to subtle influence through entertainment. Their success in blending counterculture appeal with commercial viability became a template for future narrative sculpting.

    This pattern of cultural engineering follows historically consistent principles. Artists and movements aligning with intelligence objectives receive overwhelming promotion, while genuine resistance faces suppression or elimination. The tragic ends of figures like Phil Ochs and John Lennon, both under documented FBI surveillance for their direct challenges to state power, contrast notably with the career trajectories of those who presented rebellion within more conventional bounds.

    Manufacturing Gender

    While music proved to be the perfect laboratory for testing mass consciousness control, these methods would soon extend far beyond entertainment.Nowhere was this more evident than in the deliberate reshaping of gender roles and family structures, with the goal of reshaping intimate aspects of human identity and relationships.

    The strategic calibration of feminist narratives emerged as a particularly powerful example, with intelligence agencies actively shaping gender politics through media and organized activism. Gloria Steinem who acknowledged working with CIA-funded organizations like the Independent Research Service during the 1950s and 1960s exemplifies this intersection. Her Ms. Magazine, launched in 1972, merged feminist ideals with carefully curated messaging, while Steinem later admitted to participating in CIA-funded events aimed at influencing feminist movements during the Cold War.

    Nicholas Rockefeller’s candid admission to his friend Aaron Russo underscored how women’s liberation was strategically funded to expand state and corporate control—doubling the tax base through workforce participation, weakening family bonds through increased divorce rates, and increasing state influence over children via state-run childcare.

    During this same period, influential shows like That Girl and The Mary Tyler Moore Show helped normalize these very changes, popularizing the archetype of the independent, career-focused woman in ways that notably aligned with systemic objectives.

    This transformation was systematic. Women’s magazines shifted from primarily domestic content to increasingly career-focused messaging. Cosmopolitan’s dramatic evolution under Helen Gurley Brown’s editorship in the 1960s exemplified this transformation, normalizing not just women’s workforce participation but also promoting sexual liberation outside traditional marriage – a dual agenda that aligned perfectly with corporate interests in expanding both the labor pool and consumer base.

    This deliberate shaping of gender movements extends to the present, with Tavistock Institute continuing to form modern narratives. From shifting women’s magazines toward career messaging in the 1960s to today’s relentless promotion of evolving gender narratives, these movements consistently align with agenda-driven objectives.

    Commodifying Resistance

    The techniques perfected in Laurel Canyon for transforming genuine resistance into profitable cultural products would evolve into increasingly complex frameworks of control. From the Grateful Dead’s pioneering of festival culture to modern corporate music festivals like Coachella, authentic counterculture spaces would be systematically converted into commercial enterprises.

    By the 1990s, these methods had evolved into systematic co-option of authentic resistance. While the Boomers experienced the shift from optimism to disillusionment, Generation X faced a more highly refined mechanism that commodified alienation itself. Kurt Cobain’s trajectory from authentic voice of generational discontent to MTV commodity demonstrated how the apparatus of influence had evolved – no longer just redirecting resistance but transforming it into profitable cultural products. This commodification extended beyond music – brands like Nike transformed anti-establishment street culture into global marketing campaigns through figures like Michael Jordan and Charles Barkley. The era’s “alternative” culture became so thoroughly commercialized that mall retailers like Hot Topic emerged to sell pre-packaged “rebellion” to suburban teens, turning counter-cultural symbols into standardized retail offerings.

    The comprehensive hijack of underground music scenes demonstrates how thoroughly the power structure perfected cultural manipulation.Just as intelligence agencies had redirected 60s counterculture, corporations developed advanced methods for capturing and commodifying organic dissidence. The Vans Warped Tour transformed punk rock – once a genuine expression of youth rebellion – into a traveling corporate marketing platform, complete with sponsored stages and branded merchandise. Red Bull’s music academy program went further, creating what amounts to an early warning system for potentially disruptive cultural movements. By identifying emerging underground genres and artists early, they could redirect authentic cultural expression into commercial channels before it developed genuine revolutionary potential.

    Even the most fiercely independent scenes proved vulnerable to this system. Major labels created fake indie imprints to maintain underground credibility while controlling distribution. Tobacco companies specifically targeted underground clubs and raves, understanding that subcultural credibility could be converted into market share. The pattern established in Laurel Canyon – of transforming authentic resistance into profitable products – had evolved into a science of cultural capture.

    Just as the Grateful Dead’s government connections helped establish templates for controlled cultural spaces, modern music festivals serve as data collection points and behavioral laboratories. The evolution from Acid Tests to algorithmically-curated festival lineups demonstrates how thoroughly the framework of influence has digitized.

    The Celebrity Machine

    The approach perfected through Gloria Steinem – channeling authentic social movements through carefully managed spokespersons – would evolve into today’s meticulously crafted model of celebrity activism.

    This algorithmic management extends beyond content to talent itself, with platforms increasingly determining not just what succeeds but which voices rise to prominence. The strategic positioning of celebrity activists demonstrates how thoroughly institutional interests have penetrated entertainment. George Clooney’s involvement with the Council on Foreign Relations, continuing a multigenerational family connection to power that began with his father Nick Clooney’s Cold War era journalism, exemplifies how these entertainment-establishment ties often span generations. Angelina Jolie’s evolution from Hollywood rebel to UNHCR Special Envoy exemplifies how countercultural appeal can be redirected toward state objectives. Similarly, Leonardo DiCaprio’s environmental advocacy – promoted through WEF platforms while maintaining a private jet lifestyle – shows how even legitimate concerns are shaped to align with elite frameworks. Similarly, Sean Penn’s pattern of high-profile crisis interventions – from Hurricane Katrina to Haiti, Venezuela’s Hugo Chávez, and most recently Ukraine – raises questions about selective platform access. While establishment-aligned celebrities receive endless amplification, those questioning official narratives often find themselves swiftly marginalized or silenced.

    Like Steinem’s CIA-backed feminist organizing, modern celebrity activism often aligns remarkably well with ruling class objectives. The path from counterculture figure to establishment voice has become a repeatable template.

    Marketing Modern Culture

    Modern equivalents of countercultural programming demonstrate how these systems remain highly effective. From the entertainment industry to luxury fashion houses, today’s cultural engineers craft narratives that align with elite interests under the guise of progress.

    This pattern of coordinated societal restructuring extends across multiple industries and platforms. The fashion industry’s role became explicit through incidents like Balenciaga’s controversial 2022 campaign featuring children with bondage imagery. While public outrage focused on the immediate controversy, the incident revealed how fashion houses increasingly push narratives about gender, sexuality, and social norms.

    Just as the Stones and Beatles channeled rebellion into acceptable forms, today’s cultural architects craft carefully calibrated resistance. Billie Eilish’s themes of alienation provide Gen Z with a commercially viable outlet for discontent, while Lizzo’s challenge to conventional beauty standards align with corporate interests in promoting pharmaceuticals, wellness products, and consumer goods tailored to diverse audiences. Even the most commercially successful artists reflect these establishment connections – Taylor Swift’s family ties to banking dynasties, including her grandfather’s role in the Federal Reserve, demonstrate how thoroughly embedded these relationships remain. As researcher Mike Benz has documented, NATO’s own training materials identify Swift as a key figure for message amplification, revealing how bureaucratic influence operates in the digital age.

    When Health Becomes Ideology

    The promotion of unhealthy lifestyles serves multiple systemic purposes. A population focused on ‘body positivity’ while struggling with obesity and chronic health conditions becomes both more profitable for pharmaceutical companies and more dependent on institutional systems.

    This agenda manifests in how unhealthiness is celebrated as progressive and inclusive. Corporate campaigns and media portray obese body types and unhealthy lifestyles as empowering, normalizing behaviors that in most cases will lead to poor long-term health. For example, Cosmopolitan featured a February 2021 cover proclaiming, “This is Healthy!” alongside imagery of unconventional body types, while Nike introduced plus-size mannequins in their flagship stores, generating significant media buzz. These efforts were celebrated as milestones of inclusivity, solidifying the ‘body positivity’ movement as a cultural touchstone.

    At the same time, fitness and working out are increasingly framed as symbols of extremism. Articles and think pieces link workout culture and physical health with dangerous ideologies, painting personal discipline as a marker of political radicalization. This patently absurd narrative subtly reframes exercise not as wellness and personal discipline, but as symbols of far-right extremism.

    This deliberate inversion mirrors Orwell’s dystopia: health becomes harmful, while unhealthiness becomes virtuous. By reframing physical well-being and self-improvement as forms of deviance, these narratives distort societal values, aligning them with complacency as a moral ideal.

    The seeds of this shift were planted during the COVID-19 pandemic, where public health policies largely ignored foundational wellness practices. Instead of promoting sunshine, exercise, proper nutrition, or weight loss – despite obesity being the highest risk factor – official messaging emphasized isolation, masking, and compliance.

    In the post-pandemic era, these themes have evolved further, reframing personal health and discipline as not just unnecessary, but as politically dangerous.

    The treatment of health and fitness reveals a calculated agenda – promoting unhealthy lifestyles while demonizing physical discipline serves the same end: creating a more dependent and controllable population. This isn’t contradiction but convergence: both approaches push people away from self-reliance and toward institutional dependence. This isn’t random contradiction but calculated deception: just as Tavistock learned to use psychological vulnerability to reshape consciousness, modern organizations deploy health narratives to create new forms of social control.

    ​​This systematic reshaping of health consciousness parallels an even broader transformation: the redefinition of citizenship and national identity itself. Just as physical fitness was reframed as extremism, traditional notions of patriotism and national pride would be carefully reconstructed to serve power structures. The entertainment industry, having perfected techniques for modifying health narratives, would deploy these same methods to reshape public understanding of loyalty and national purpose.

    Shaping Patriotism

    From the fitness industry to Hollywood, narratives are crafted to ensure compliance with systemic ideals, often echoing tactics first developed to reshape public sentiment during the isolationist era discussed earlier. Just as J.P. Morgan’s acquisition of newspapers in 1917 helped frame America’s reluctant entry into global conflicts as a moral imperative; television series, streaming shows, and films all shape public perceptions of military action by glamorizing its necessity and heroism.

    Modern blockbusters like Top Gun: Maverick demonstrate how studios must submit scripts to the Department of Defense for approval, with military-mandated changes required to access essential equipment and filming locations. The Pentagon’s influence extends deep into the Marvel Cinematic Universe. Captain Marvel required extensive script revisions to secure military support, transforming the protagonist from a civilian pilot into an Air Force officer. Similar military oversight shaped Iron Man, with the Pentagon demanding script approval in exchange for access to bases and equipment. These aren’t just product placement deals – they represent systematic narrative control at the heart of modern entertainment. Other films, such as Zero Dark Thirty and Argo, have been produced in direct collaboration with the CIA, promoting narratives aligned with military interests.

    The NFL provides another striking example of how sports leagues function as extensions of the entertainment network, leveraging emotional narratives to shape public sentiment. Military flyovers, player tributes to soldiers, and Super Bowl advertisements are often presented as organic celebrations of national pride. However, these moments frequently stem from paid partnerships with the Department of Defense, blurring the lines between authentic patriotism and orchestrated messaging. Just as blockbuster films glamorize military action, sports leagues normalize the connection between patriotism and military service, reinforcing regimented narratives under the guise of entertainment.

    While it is true that genuine patriotism and respect for service members reflect authentic American values, the entertainment industry’s careful curation of military narratives serves a deeper purpose: normalizing perpetual foreign interventions without encouraging deeper understanding of these conflicts and their terrible consequences. By conflating support for troops with unquestioning acceptance of military action, these cultural products manufacture consent for engagements most citizens neither understand nor meaningfully debate. The transformation of complex geopolitical realities into simplified hero narratives helps ensure public compliance without public comprehension.

    Even ostensibly critical films like The Bourne Films and Charlie Wilson’s War blend fact and fiction in ways that subtly glorify intelligence work and interventionist policies. This narrative crafting ensures that skepticism of these organizations remains constrained, reinforcing a sense of patriotism tied to state ideals and policies.

    Alongside these cinematic examples, the video game industry has become a powerful tool for behavioral influence strategies. Franchises like Call of Duty have embedded pro-military narratives in their immersive gameplay, serving as advanced recruitment tools for the armed forces.

    While Hollywood and gaming recruit audiences into the machinery of war, contemporary music has been weaponized in a way similar to the examples of jazz diplomacy in the 1950s, the “British Invasion”, and Laurel Canyon musicians discussed before. Nowhere is this more striking than in hip-hop, where the genre’s transformation from protest music to ‘gangsta rap’ illuminates how power brokers co-opt authentic voices to align with the very corporate and political interests that are actively working to subjugate them.

    Prison Profit Pipeline

    Hip-hop’s rise in the 1980s coincided with the crack epidemic, a devastating chapter in American history exacerbated by the CIA’s involvement with Contra rebels in Nicaragua—a link exposed by journalist Gary Webb in his groundbreaking investigation. What began as a genre documenting the effects of systemic oppression and the scourge of drugs in Black communities soon became commodified. The raw narratives of survival and resistance were transformed into glamorized depictions of drug culture, aligning neatly with authority-driven interests that perpetuates profitable cycles of incarceration and control.

    The music industry’s real agenda becomes explicit through figures like hip-hop icon Ice Cube, who revealed how record labels and private prisons deliberately aligned their interests. “It seems really kind of suspicious,” Cube noted, “that the records that come out are really geared to push people towards that prison industry.” His assertion that “the same people who own the [record labels] own the prisons” exposed the strategic development of content to feed incarceration systems.

    As Cube explained, “a lot of dope songs people like are made by a group of people telling rappers what to say,” replacing organic artistic expression with carefully developed narratives. This deliberate shift funneled anger and discontent into self-destructive behaviors, perpetuating cycles of incarceration that aligned neatly with corporate interests. The prison-industrial complex demonstrated how systemic control could merge profit motives with social programming. This fusion of surveillance, behavioral modification, and economic coercion would become the template for digital oversight framework, where algorithms track behavior, shape choices, and enforce compliance through economic penalties – just at global scale

    What record labels achieved manually in hip-hop – identifying, redirecting, and commodifying authentic expression – would become the template for digital control. Just as executives learned to transform street culture into profitable products, algorithms would soon automate this process at global scale. The transformation from protest to profit wasn’t limited to music – it became the blueprint for how all cultural resistance would be managed in the digital age.

    In Part Three, we’ll see how these cultural shaping techniques have been automated and perfected through digital systems. The methods of cultural control evolved from physical to psychological, from local to global, from manual to automated. What began with Edison’s hardware monopolies and reached its analog peak in the manipulation of popular culture would find its ultimate expression in digital systems. The transformation from mechanical to algorithmic control represents not just a technological evolution, but a quantum leap in the capability to shape human consciousness.

    Tyler Durden
    Mon, 12/30/2024 – 22:35

  • 6'4" Trans Child-Molester Sexually-Abused Female Cellmate In Washington Prison: Suit
    6’4″ Trans Child-Molester Sexually-Abused Female Cellmate In Washington Prison: Suit

    Western trans madness has many shocking manifestations. Woke school counselors and doctors pushing 14-year-olds into double-mastectomies is certainly the worst, but locking real women in prison cells with self-identifying “trans women” ranks way up there too. 

    That general practice is objectionable enough on its face, but a specific example from the Left Coast took it to a disturbing extreme, as Washington prison officials made a female prisoner share a cell with a towering, six-foot-four convicted child molester. The woman, Mozzy Clark, is now suing the state, saying the hulking “trans woman” named Christopher Scott Williams sexually abused and harassed her for months.    

    Convicted of sexually assaulting an underage girl, Christopher Scott Williams was given a female cellmate after identifying as “trans” (Washington Dept of Corrections)

    Williams’ dedication to his trans identity apparently stops short of bothering to take a female name, but does extend as far as wanting to have a woman locked in the same room with him every night. Williams had previously been convicted of sexually assaulting his own sister when he was 16 and she was only nine years old. His father said he’d first abused his sister three years earlier, but he avoided charges for that incident.

    He was later convicted in 2009 and 2010 on felony charges for failing to register as a sex offender where he lived. At the time of his government-facilitated cohabitation with Clark, Williams was doing time for hitting his girlfriend in the head with a pipe.

    Williams was originally sent to a male prison — where he reportedly beat a male prison guard unconscious, necessitating reconstructive surgery — but then declared himself female and petitioned for a transfer to a woman’s prison, according to Clark’s complaint. The Washington Department of Corrections obliged, sending him to the Washington Corrections Center for Women (WCCW). He then accused his roommate of bullying him, and asked to be locked up with Clark.  

    Clark says that, as a child, she was raped by an uncle and sold by her mother for drug money. Now her life at WCCW became a new living hell, which, according to the complaint, started with lewd comments and displays of Wiliams’ genitals: 

    “In their cell, Ms. Clark was on the bottom bunk. Mr. Williams … would hover menacingly over Ms. Clark’s bunk with an erection while touching himself. He would also display his erection to Ms. Clark against her will, and gesture towards it, saying how much he wanted her.”

    “I’d be sitting on my bunk and he’d lean over me and he’d be like, ‘I hate it when it fills up with blood’,” Clark told National Review. On multiple occasions, Clark woke up to find Williams on her bed. “When I startled awake, I felt . . . Christopher jerk his hand out from in my pants, and underneath my blankets. I was in shock. It took me back to my childhood.” In another incident, Clark says Williams returned to the cell with a homemade, strap-on dildo and asked Clark to use it on him. Her complaints to prison authorities prompted threats of physical violence from the giant in the bunk above her. 

    Other female inmates have complained about Williams and other biological men placed in the women’s prison. Some of those grievances include showers that don’t afford privacy from male leering. As an anonymous female inmate told National Review: 

    “Our shower stalls don’t go up to our heads. And the bathroom stalls, same thing. A bunch of women, when they’re in the showers, these people are just standing there. They don’t have to stand on their tippy toes and they look over and see everything. People were so uncomfortable. You feel kind of like you’ve been violated.”

    Williams is now reportedly living alone a single cell. “They moved him out of the room, and they found literally a bag of dicks,” a female prisoner said. “A bunch of homemade dildos that this dude made.”

    Washington State corrections Secretary Cheryl Strange has garnered leftist praise for facilitating “gender-affirming care” for convicts

    Fittingly, the Washington Department of Corrections is led by a woman named Cheryl Strange. An Evergreen State College product and progressive who was appointed by the Biden administration to a federal corrections advisory board, Strange has overseen the implementation of taxpayer-funded “gender-affirming care” for Washington inmates, along with a host of other trans-catering policies. For example, male prisoners who say they are actually women can demand that pat-downs and physical inspections are performed on them by female prison guards.  

    “Dostoevsky said that a society can be judged by its prisons,” National Review said in an August editorial. “Ours are in the grip of the same irrational ideology as so many other American institutions.” 

    Tyler Durden
    Mon, 12/30/2024 – 22:10

  • Six Scenarios For Syria
    Six Scenarios For Syria

    Authored by  As`ad AbuKhalil via Consortium News,

    The situation of Syria is like the chaos of Libya but there are many more actors (local and external) operating, making it difficult to foresee what will happen…

    It is naive to assume that the current regime in Syria will remain in place – as it is – going forward…

    Syria is now in a state of uneasy transition and the political-military situation will remain in flux as long as the conflicts between the various armed and civic groups are not resolved.

    We have seen during the age of the Arab uprisings that the collapse of a regime does not necessarily produce a stable or a democratic government. In Tunisia, the democratic transition was concluded when the current president decided to exclude the Islamists from power and to rule as a despot.

    In Egypt, the UAE and Saudi regimes helped install a military government headed by Gen. Abdel Fattah al-Sisi  to end the elected rule of the Muslim brotherhood. The conflicts in these countries are not purely the outcome of internal developments, but often reflect regional conflicts, conspiracies and competition.

    Turkey and Qatar support the rule of the Muslim Brotherhood, while Saudi Arabia and UAE support their ouster and exclusion from government. This will be central in understanding what comes next in Syria.

    Israel and the U.S. are close to the Saudi-UAE camps but are also close to Qatar; and the Muslim Brotherhood seems to work well with the U.S. and even avoid pushing a radical line against Israel.

    June 16, 2012: Street in Cairo during second round of presidential elections, which Muslim Brother’s candidate Mohamed Morsi won. (Jonathan Rashad, Flickr, CC BY-NC-SA 2.0)

    President Mohamed Morsi of Egypt did not attempt to abrogate the peace treaty with Israel and even allowed the continuation of the military-intelligence coordination with Israel.

    Furthermore, after a meeting at the Washington Institute for Near East Policy (WINEP) in Washington, Rashid Ghanoushi, head of the Islamists of Tunisia, complied with U.S. wishes and froze a push in the Tunisian parliament to criminalize normalization with Israel.

    Syria is a more complex political and military situation for several reasons.

    The U.S. maintains an occupation of sizable territory in Syria. Whenever the U.S. keeps troops in a country that operates outside the control of the local government, that the country (or a chunk of it at least) is under U.S. occupation.

    In Iraq, the U.S. maintains a few thousand troops, but it continues to wield tremendous influence over the government and rejects parliamentary calls for the withdrawal of those troops.

    We learned in recent weeks that the size of the U.S. military force in Syria is double what the public has been told, and the presence even of a small military contingent requires a sizable military suppor force in the region.

    The U.S. is not only fighting ISIS (while the U.S. does not give a timetable or a roadmap for its unending fight against ISIS) but it also provides support for militias that are under its control in Syria.

    The U.S. preaches state monopoly of the use of force in the Middle East except where U.S. surrogate militias operate in a country.

    Turkish & Israeli Roles

    Turkey has a strong military presence in Syria and — like the U.S. — can easily influence developments on the ground, making things easier or more difficult for whatever government that may arise in Syria. Turkey’s military and intelligence intervention was key to the ouster of Bashar Al-Assad.

    Israel has expanded its occupation of Syrian territory and has been conducting hundreds of bombing raids inside the country after the collapse of the regime. Like the other actors, Israel wants to shape the orientation and policy of the future government and seeks to prevent a radical or democratic regime from emerging.

    The regional conflict has not been decisively resolved yet.

    So far, the Turkish-Qatari-Israeli-U.S. axis has scored major successes in Syria (thanks to their support or indulgence of the former Al-Qa`idah militia which now runs the country) but Russia and Iran may still try to either take revenge or enhance their regional power status.

    Russia lost a major strategic military presence inside the country, while Iran lost the direct link to Hizbullah, which passed through Syria.

    More than in the cases of Tunisia and Egypt, there are many militias operating in Syria, and they all have external sponsors. Outside powers will be involved in the formation of the new government in Syria.

    The situation of Syria is like the chaos of Libya but there are many more actors (local and external) operating there.

    Turkey’s President Recep Erdogan in September 2023. (Sergey Guneev, RIA Novosti, President of Russia)

    The Six Scenarios

    While it is not clear how the local and regional conflicts will affect the emergence of a new and potentially stable government in Syria, it is possible to consider these scenarios.

    1. Libyan Model

    Syria may very well follow the example of Libya. Like Libya, the regional conflicts between those who support the Islamists and those who abhor them may play out for many years to come.

    The Obama administration promised with great excitement a new democracy in Libya and an end to tyrannical rule after the NATO assault in 2011.

    In Syria, the various Islamist militias have a history of bloodshed that may not end just because Hay’at Tahrir Sham (HTS) has taken control of the central government — at least formally.

    The size of the new government’s militia is not large and it may face military challenges from various fronts. If Syria were to follow the scenario of Libya, it would mean that Russia, Turkey, Qatar, UAE and the U.S. will all be involved. It would also bring in Israel, which harbors keen interest in establishing a client regime in Damascus.

    The massive Israeli bombing of Syria since Assad’s fall was intended to demolish Syria’s military infrastructure and intimidate the new government. HTS quickly signaled it has no agenda against Israel, and does not concern itself—not even verbally—with the aim of liberating Syrian territory from Israeli occupation.

    The potential for disintegration and fragmentation is particularly high because Syria is far less homogeneous (ethnically and religiously) than Libya. The crackdown by the new government against Alawites has triggered outrage and calls for self-defense in the Alawite region.

    2. Military Coup

    The UAE and Saudi Arabia may very well arrange for a military coup to install a client military despot, like Sisi in Egypt.

    The UAE was instrumental in the Egyptian coup of 2013 and its media have been alone in expressing alarm regarding the new regime in Damascus. After all, the UAE’s ruler was in close contact with Assad to the very end and was steering him away from Iran and the “axis of resistance.”

    In fact, since Assad’s rapprochement with the UAE began he had been restricting the movement and activities of Iranian and Hizbullah military officers. This coup scenario would work to establish a regional alliance of republican despotic regimes tied to the Saudis and the Emiratis.

    Of the two, the UAE has thus far been more successful in imposing its political and military will in Somalia, Yemen (south), Libya, Sudan (with the RSF) and Egypt.

    An installed military regime could easily be integrated into the Abraham accords once the Saudis reach agreement with Israel on a peace treaty. The problem with this scenario is that the UAE is the chief opponent of the Muslim Brotherhood in the region that wields influence in Syria.

    That would mean imposing brute force against them just like in Egypt, which had been the Brotherhood’s base before and after the fall of Hosni Mubarak.

    3. Democracy

    Voting in the 2021 Syrian presidential election. (Habib Kamran/Wikimedia Commons)

    The new government would heed the call of many Syrians and begin a transitional period in which free elections are held and a new constitution is drafted. That would lead to the formation of a democratic government, something that Syria has not experienced since the 1950s when the democratic order was very flawed and subject to outside intervention and manipulation.

    This democratic scenario would alarm both Israel and the U.S. who are keenly aware that people— left to their own devices – -would not necessarily serve Western and Israeli interests. Despotic rule is always preferable to the West and Israel. The U.S. hasn’t yet lifted its cruel sanctions against the Syrian people (though it did lift the $10 million bounty on the HTS leader’s head) because Washington can use it to blackmail any future Syrian government.

    4. HTS Dictatorial Rule

    The HTS would monopolize political power and rule alone disregarding demands for wider representation. Such a scenario would alarm religious minorities and women given the ideological origins of the new rulers. The U.S. and Israel may favor this scenario if the alternative is an uncontrollable democracy near Palestine.

    5. Syria Breaks Up

    Syria could lose its territorial integrity and become a patch of semi-independent, sectarian enclaves where the Druze would govern their own province, and the Alawites and Kurds would do the same ad so on. This scenario would be too alarming for Turkey, which is willing to use military force to crush an independent Kurdish statelet inside Syria.

    The West and Israel would favor such an outcome; after all, Joe Biden and Antony Blinken advocated dividing Iraq into three enclaves after the American invasion of 2003. If this scenario arises, Northern Lebanon (Tripoli and Akkar) may ask to join the Sunni enclave.

    6. Restoration

    The least likely scenario entails the restoration of the old regime with the assistance of Iran and Hizbullah. Members of the “axis of resistance” are furious at Assad for abandoning power so quickly; they are also outraged over revelations of his close coordination with the UAE to distance Syria from Iran.

    Iran and Hizbullah have been weakened and won’t risk their forces to defend the ousted regime if Assad indicated he wanted to return. Their intervention in Syria on his behalf would trigger Israel targeting them.

    It is most difficult to predict the political future of Syria. It has never been an easy country to govern and the nightmarish experience of living under the Assad regime for decades embittered many Syrians.

    But the ideology the new rulers of Syria brings is too alien to a society that is diverse and has a history of secularist tendencies. There are many claimants to power inside the country, and a multiplicity of outside powers who want a piece of Syria (figuratively or literally).

    Whatever happens, the next phase will not be peaceful.

    Tyler Durden
    Mon, 12/30/2024 – 21:45

  • The Shifting Politics Of Nationwide EV Charging
    The Shifting Politics Of Nationwide EV Charging

    The state of EV charging across the nation is likely to take a drastic shift with the incoming Trump administration taking over. The only question is shift in which direction? 

    After all, the Biden administration was well known for getting precisely nothing done on the charging front, led by Secretary of Transportation Mayor Pete. And so, is the only way to go…up? That’s what Wired explored in a new feature out last week. 

    Three years ago, the U.S. government allocated $7.5 billion under the Biden administration to build public EV charging stations, aiming to support a shift to electric vehicles and achieve 40% zero-emission car sales by 2030.

    However, the incoming Trump team reportedly plans to redirect these funds to priorities like domestic battery-mineral processing, arguing EV charging isn’t a “national defense” issue, according to a new feature from Wired.

    The question then whether the states will have more pull than the federal government. Some companies seem to think so.

    Revel, an electric vehicle charging and ride-hail company, is expanding strategically to areas supportive of EV growth. Already operating in NYC and planning a Los Angeles site, Revel announced eight new Bay Area locations set to open by 2025.

    The company focuses on cities with strong EV policies, like New York’s push to electrify taxis by 2030 and California’s ride-hail EV mandates.

    CEO Frank Reig highlights that incentives often come from local utilities rather than federal programs. For example, NYC’s ConEdison covers half the costs of installed chargers. This urban-centric approach reflects a concern that EV infrastructure could become politically divisive, with federal support potentially dwindling under the incoming administration.

    He said: “The vast majority of incentives, grants, and subsidies for a business like us is really not at the federal level. Oftentimes, it’s not even at the state level.”

    “The next 10 years [in EV charging] is all about the urban environment, cities, middle- and lower-income folks,” he continued. 

    Wired writes that bipartisan support for EV charging remains. Jason Mathers, the associate vice president of the zero-emission truck initiative at the Environmental Defense Fund commented: “There is broad support for electrification amongst a whole bunch of critical stakeholders.”

    States like Texas, Kentucky, and Ohio, alongside California and New York, are advancing charger installations with $3.5 billion in allocated federal funds.

    Advocates argue that expanding EV infrastructure is critical for job creation, economic competitiveness, and reducing reliance on China for battery materials, emphasizing that a nationwide approach is essential.

    Tyler Durden
    Mon, 12/30/2024 – 21:20

  • Obama's 'Censorship' Office Goes Bankrupt
    Obama’s ‘Censorship’ Office Goes Bankrupt

    Authored by Gabe Kaminsky via RealClearPolitics.com,

    The Global Engagement Center, an office housed within the State Department and aiming to thwart disinformation and misinformation, has been forced by Congress to close up shop. It’s no mystery why; the taxpayer-backed GEC violated its mandate to work only overseas and devolved into a partisan enabler of speech suppression in the United States.

    Here’s how…

    Founded in 2016 and technically the product of an Obama-era executive order on counterterrorism, the GEC lapsed in December and lost congressional funding. Over the last two years, my investigative reporting in the Washington Examiner as well as that of Racket News journalist Matt Taibbi pulled back the curtain of the GEC’s ties to foreign and domestic NGOs trying to defund news outlets they say peddle disinformation – including RealClearPolitics. My reporting showed that the GEC and the State Department-funded National Endowment for Democracy combined granted almost $1 million to the British Global Disinformation Index, which created a blacklist of U.S.-based websites that published content it determined to push “adversarial narratives” and then pressured advertisers to shut them down (think the Hunter Biden laptop story and COVID-19 lab leak hypothesis).

    The GEC, moreover, was involved with the Election Integrity Partnership, a consortium of left-wing nonprofit groups, universities, and federal agencies that pressured Twitter and Facebook to remove GOP-aligned content in the lead-up to the 2020 presidential election. The GEC also bankrolled New York-based company NewsGuard, a “misinformation” tracker that, along with the Global Disinformation Index, has found itself at the center of a lawsuit brought by the Federalist, the Daily Wire, and the State of Texas against the GEC for allegedly  funding an unconstitutional “censorship scheme” that suppressed voices on the right.

    Taibbi, the former Rolling Stone writer, demonstrated that the GEC pressured social media platforms in the early days of the COVID-19 pandemic to moderate extensive content, testifying to Congress in March 2023, “We learned Twitter, Facebook, Google, and other companies developed a formal system for taking in moderation ‘requests’ from every corner of government: the FBI, DHS, HHS, DOD, the Global Engagement Center at State, even the CIA.”

    In turn, these revelations and others culminated in a high-level pressure campaign in December that resulted in the GEC losing out on a one-year lifeline through a congressional spending package. Elon Musk and Vivek Ramaswamy joined President-elect Donald Trump in demanding that House Speaker Mike Johnson – who had initially brokered a controversial deal to allow the GEC to continue to receive more of your tax dollars – remove the pro-GEC provision. Once this powerful trio came out against more GEC funding, the nail was squarely in the coffin. It didn’t help Johnson that conservative lawmakers with clout in Trump World such as Dan Bishop, Trump’s pick for a high-ranking role at the Office of Management and Budget, fervently opposed the bill.

    Soon, the bill was dead. And the GEC with it.

    As Taibbi and I investigated the GEC, the taxpayer-funded office even circulated internal guidance with the aim of discrediting our reporting and unfairly linking a congressman whom I interviewed to a Russian state news outlet. The saga, first reported by the New York Post, demonstrated the lengths to which the GEC would go to try to save itself from First Amendment scrutiny.

    The campaign was wildly unsuccessful. It arguably backfired.

    And the congressman who was targeted, Jim Banks, launched a House investigation into the matter – writing in a letter to Secretary of State Antony Blinken, “In response to Mr. Kaminsky’s reporting, the State Department sent out press guidance defending its attempted suppression of U.S. news organizations. That guidance misleadingly changes a quote that I sent to Gabe Kaminsky and the Washington Examiner criticizing the GEC.”

    “The intentional misquotation gives the impression that I had been speaking with a Russian propaganda outlet,” the Indiana Republican wrote to Blinken in the recent letter. A watchdog group then filed a Freedom of Information Act request for more details on the internal memo. And Darrell Issa, who had helped lead the charge in investigating the GEC for its ties to apparent censorship, also wrote a letter to Blinken pressing for the GEC to close its doors over “the outright censorship of Americans by the State Department under your tenure.

    “By smearing anyone who disagrees with it as a Russian stooge, this network conflates U.S. citizens with a U.S. adversary, as State Department talking points did to my colleague Representative Jim Banks and the award-winning journalists Gabe Kaminsky and Matt Taibbi in a scheming sleight of hand that ruled out of bounds political opinions and fact-based reporting it opposed but cannot refute,” Issa, a California Republican and senior House Foreign Affairs Committee member, wrote in a letter to Blinken in September.

    While the GEC is no more, the employees who helped lead the office over the years are being reassigned elsewhere in the U.S. government, likely within the State Department, the agency said in a recent court filing.

    The GEC’s failure to win reauthorization is a further vindication of our reporting on its seemingly unlawful activities.

    But make no mistake: We will be watching to see where the federal officials accused in court of facilitating “one of the most egregious government operations to censor the American press in the history of the nation” end up next on the taxpayers’ dime. Sunlight is the best disinfectant.

    Tyler Durden
    Mon, 12/30/2024 – 20:55

  • China Orders Largest Military Build-Up Since 1930s Germany; Report
    China Orders Largest Military Build-Up Since 1930s Germany; Report

    According to a report by a national security expert, the People’s Republic of China has ordered the largest military build-up of any nation in the world since Germany in the 1930s, raising concerns about the military threat presented by China.

    As Eric Lendrum reports for American Greatness, the claims were made in an article in The Federalist written by Chuck DeVore, the chief national initiatives officer at the Texas Public Policy Foundation. DeVore points out that while the American military has spent over $5.4 trillion on wasted wars such as the “War on Terror” and subsequent attempts at “nation-building,” China has been strengthening its military.

    “China is engaging in an unprecedented military build-up that the world frankly hasn’t seen since Adolf Hitler in the 1930s,” said DeVore in an interview following the publication of his article.

    “They’re massively building up their nuclear arsenal. We expect it to expand to at least 1,000 warheads by 2030, only five years from now. Probably going to be bigger than that,” DeVore explained.

    “The Chinese Navy, not by tonnage, but by numbers is now larger than the U.S. Navy. China has something like 250 times the ship building capacity that America does.”

    Among other expansions, China has increased the arsenal of the People’s Liberation Army Rocket Force (PLARF) by 50 new intercontinental ballistic missiles (ICBMs), bringing the new total to around 400.

    The Department of Defense (DOD) also reports that 300 more medium-range ballistic missiles and 100 long-range cruise missiles have also been added.

    China currently has over 600 operational nuclear warheads, and is expected to increase that total to over 1,000 by the year 2030.

    Whereas the outgoing Biden Administration has taken a much softer stance on China, President-elect Donald Trump has vowed to crack down on China, both in terms of trade and military ambition.

    The country’s most recent build-up efforts may be in anticipation of the expected challenges of a Trump presidency that will not let China get away with as much as it did under Biden.

    Tyler Durden
    Mon, 12/30/2024 – 20:30

  • A Progressive Case For A Strategic Bitcoin Reserve: Strengthening America's Social Safety Net
    A Progressive Case For A Strategic Bitcoin Reserve: Strengthening America’s Social Safety Net

    Authored by Trey Walsh, Executive Director of The Progressive Bitcoiner,

    I’ll start off by saying I have many reservations about the United States pursuing a Strategic Bitcoin reserve, with the major plans I’ve observed including legislation proposed by Senator Lummis and a draft Executive order from the Bitcoin Policy Institute (this does not include those proposed state-by-state, which is a different focus and a bit more straight forward given they hold some bitcoin to diversify their assets).

    My reservations include timing, political (polarizing) ramifications, mechanisms/cost of obtaining Bitcoin, why the U.S. would pursue this as a nation already leading as the world reserve currency, government getting more involved with Bitcoin could lead to more involvement/influence with Bitcoin’s development, and ramifications on Bitcoin as money for U.S. citizens (would privacy, medium of exchange, self-custody be at greater risk?).

    I think Nic Carter wrote an excellent piece questioning the SBR and advocating against the U.S. pursuing this which I’d highly encourage you to read.

    While I have seen support for the SBR from Bitcoin proponents, mostly GOP politicians and Trump (in fairness Democratic Rep. Ro Khanna has said he’s supportive in theory I believe), there has yet to be any attention paid to this in a positive way from progressives. In fact, really only criticism. While I have my reservations and criticisms as I’ve clearly stated to be transparent here, I’d like to focus on some ways in which a U.S. Strategic Bitcoin Reserve could actually be a positive thing for Americans, from a progressive’s lens and values with an emphasis on social safety net spending. This has yet to be discussed at any scale, and I’d like to offer some thoughts, and some actual social good this could do besides just “strengthen the United States as a global power and strengthen the dollar.” Ok, but what could this do for actual, every day people in America? That’s what I care about, and probably you too.

    This overwhelming image was captured today from https://www.usdebtclock.org/. What the U.S. doesn’t have a solid answer for is how we are going to pay for the vital services needed and expected from citizens at this point when facing a debt and spending crises compared to our budget/tax receipts. Depending on who you ask and which economic theories you subscribe to, there are different ways for handling this—but the issue remains: the U.S. is kicking the can down the road regarding debt, spending and refusing to either raise taxes or cut spending dramatically and catastrophically. I wanted to set the stage first, and then offer some strategic use cases of a SBR toward social safety net spending, the budget deficit, and a government by the people, for the people with Bitcoin.

    1. Hedge Against Inflation to Protect Public Programs

    • Stability for Social Spending: Inflation and currency devaluation erode the purchasing power of government budgets, reducing the effectiveness of social safety net programs. A Bitcoin reserve, as a deflationary asset, could serve as a hedge against such economic risks, ensuring stable funding for programs like Medicare, Medicaid, and Social Security. As things get more expensive in fiat terms (salaries, healthcare bills, vital hospital technology, medications, treatments, etc) they get cheaper in Bitcoin terms.

    • Future-Proofing Benefits: Bitcoin’s limited supply could protect against long-term depreciation of fiat currency, ensuring that entitlement programs maintain their value and benefit recipients in the decades to come.

    2. Revenue Generation for Safety Nets

    • Asset Appreciation: Bitcoin has shown significant price appreciation over the long term. A government-held Bitcoin reserve could be leveraged during times of financial need to generate additional revenue for funding social programs. The key here is a long-term view, not short term trading.

    • Controlled Liquidation: Under a progressive framework, the government could design strict protocols for selling portions of the reserve during economic downturns or crises to avoid undermining the reserve’s long-term value while supporting public welfare.

    3. Alternative to Taxpayer Burden

    • Reducing Taxpayer Reliance: Traditionally, funding for social safety nets comes from taxes, which can disproportionately impact middle- and lower-income households. A Bitcoin reserve could provide an alternative funding source, reducing the reliance on direct taxation for safety net programs.

    • Reducing deficit spending: One of the leading cases of inflation is deficit spending via money printing mechanisms from the Fed, Treasury and Congress passing legislation well beyond our assets and tax receipts. A SBR could be used to help us rely less on the money printing that is responsible for overwhelming inflation on the lower and middle class that is often use to fund our government and social safety net programs. By including Bitcoin alongside traditional reserves like gold, the government could enhance its fiscal capacity to sustain welfare programs without relying on deficit spending.

    4. Emergency Financial Assistance

    • Crisis Mitigation Fund: During financial crises, the government often struggles to rapidly mobilize resources for safety net expansions. Bitcoin, being highly liquid and accessible globally, could act as an emergency reserve for direct cash transfers or funding unemployment benefits in times of economic distress.

    • Global Remittance Efficiency: Bitcoin’s borderless nature could streamline the delivery of international aid or remittances to support diaspora communities or vulnerable populations abroad, aligning with progressive values of global equity.

    5. Promoting Financial Inclusion for Vulnerable Populations

    • Bridging the Wealth Gap: A Strategic Bitcoin Reserve could be paired with policies that encourage public ownership of Bitcoin, offering individuals and communities the ability to participate in a financial system that is less dependent on traditional banking structures. Look to programs such as the Alaska Permanent Fund which pays dividends based on Alaska’s oil reserve and production

    • Direct Redistribution Mechanisms: The government could use gains from Bitcoin reserves to fund Universal Basic Income (UBI) programs or targeted assistance for low-income households. Margot and I discussed this possibility with Scott Santens, a leading expert on UBI on our podcast.

    While not directly connected to the SBR, the acceptance of Bitcoin at this stage could open the door for more possibilities regarding Bitcoin mining and the community.

    6. Incentivizing Green Bitcoin Mining for Job Creation

    • Jobs for At-Risk Communities: Bitcoin mining operations, if incentivized to use renewable energy, could create jobs in underserved regions, providing a dual benefit of economic revitalization and environmental progress.

    • Revenue for Local Governments: Tax revenues generated from sustainable Bitcoin mining operations could be redirected to strengthen local safety nets, such as affordable housing or community healthcare initiatives.

    7. Economic Resilience to Fund Long-Term Programs

    • Buffer Against Economic Crises: In times of economic downturns or geopolitical instability, Bitcoin’s independence from fiat currency systems could provide a financial buffer. This could ensure that critical safety net programs continue to operate without disruption.

    • Strengthening the Social Contract: By maintaining a reserve that safeguards national economic security, the government reinforces its commitment to protecting vulnerable populations, which is a core progressive principle.

    8. Enhancing Public Trust in Social Programs

    • Transparent Funding Mechanism: Bitcoin’s blockchain technology ensures a transparent ledger. Using a Bitcoin reserve to partially fund social programs could increase public trust in how resources are allocated and managed, reducing skepticism about government waste or corruption. The SBR bitcoin addresses would be made public (like El Salvador does)

    • Public Ownership: Progressives could propose allocating a small portion of Bitcoin gains directly to citizens through rebates or credits tied to social programs, creating a tangible connection between national reserves and public benefit. Again, back to a dividend or UBI approach

    This is just the tip of the iceberg for how progressives might theoretically approach a Strategic Bitcoin Reserve. While this is more of an intellectual exercise at this point, and my focus continues to be on grassroots adoption of Bitcoin and how this can transform individual’s lives and communities around the world, it raises an important point — what social good could we imagine Bitcoin providing in our ever evolving, changing, and fiscally challenging world? Beyond just number go up, crypto traders, and wall street getting richer, what role can Bitcoin play in improving the lives of everyday people at a deep, structural level? We’ll continue to explore these questions here at The Progressive Bitcoiner.

    Tyler Durden
    Mon, 12/30/2024 – 20:05

  • Recent Rash Of Crashes Turns 2024 Into Deadliest Year For Aviation Since 2018
    Recent Rash Of Crashes Turns 2024 Into Deadliest Year For Aviation Since 2018

    The commercial aviation industry faced a turbulent week with four plane crashes, making this one of the deadliest years since 2018. The most shocking mid-air aviation disaster occurred on Sunday when a Jeju Air 737-800 jet crashed at Muan International Airport in South Korea. 

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    In August, Voepass Flight 2283 crashed near Sao Paulo, killing all 62 people onboard.

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    In July, 18 people were killed in a fatal take-off accident in Nepal involving a Saurya Airlines jet. 

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    Amid the latest mid-air mishaps and several others, onboard passenger fatalities on commercial flights have risen to 318 this year, according to Bloomberg, citing data from Cirium.

    This marks the highest death toll since 2018, when 500 lives were lost—a year defined by the first of two fatal Boeing 737 Max crashes.

    The data reveals that onboard passenger plane fatalities have decreased over the past 15 years. However, it takes only a few mid-air accidents to abruptly shift a statistically safe year into one of the deadliest.

    Tyler Durden
    Mon, 12/30/2024 – 19:40

  • Critical Political Choices Will Define Canada's Future In 2025
    Critical Political Choices Will Define Canada’s Future In 2025

    Authored by former senior Mountie Garry Clement via The Bureau, 

    As Canada looks ahead to 2025, it stands at a crucial juncture, facing both unprecedented challenges and emerging opportunities. The nation’s evolving relationship with China, ongoing concerns about money laundering, the upcoming federal election, and its delicate position in U.S.-Canada relations present an intricate web of issues that will shape the country’s future. How Canada navigates these issues in the next year will determine not only its global standing but also its domestic harmony.

    Justin Trudeau had a Liberal Party fundraiser in Vancouver with a number of Chinese Nationals that included individuals in United Front groups with official ties to Beijing, along with former Liberal multiculturalism minister and prominent party fundraiser Raymond Chan. Numerous donations into Trudeau’s personal Montreal election riding flowed after this Vancouver dinner.

    The China Challenge

    Since the era of Pierre-Elliott Trudeau, many Canadian politicians have forged what we now recognize as unhealthy relationships with China, enabling the country to interfere in our electoral process at all levels of government. This has provided an opportunity for Triads and Chinese Communist Party sympathizers to infiltrate Canadian society and Canadian politics.

    In the past decade, Canada’s relationship with China has been strained, primarily due to geopolitical tensions and human rights concerns, but this has not resulted in any meaningful restrictions being placed on China by Canada. In 2025, this relationship will remain a balancing act—Canada must tread carefully between maintaining diplomatic and trade ties with a rising global power while aligning with Western allies who increasingly view China as a strategic adversary. Canadian politicians will also need to understand and accept that United Front Groups existing in Chinese diaspora communities across Canada have been shown to be allied with the Chinese government.

    Canada’s foreign policy decisions will likely be influenced by developments in China’s global ambitions, particularly in areas such as the Belt and Road Initiative, the Taiwan issue, and its growing military presence in the South China Sea. The country’s relationship with China is at a crossroads, with growing calls for Canada to take a firmer stance on human rights issues, such as the treatment of Uyghurs in Xinjiang and Hong Kong’s autonomy. On the other hand, China remains a vital trading partner, especially in the context of Canada’s resource exports. Notwithstanding this, Canada will have a decision to make and hopefully it leans towards protecting Canada’s sovereignty.

    Canada must also be prepared to reassess its foreign policy posture as the global balance of power continues to shift. The 2025 federal election could provide a pivotal moment in shaping public opinion on China and its place in Canada’s future.

    Money Laundering: An Ongoing Domestic and International Concern

    Another pressing issue for Canada in 2025 is the continuing challenge of money laundering, particularly within its real estate and financial sectors. Internationally, Canada’s role in global financial markets means that it cannot afford to be complacent about illicit financial flows. Recent reports have highlighted how foreign actors, including from China, have used Canadian institutions to launder money and hide illicit funds.

    The Cullen Commission highlighted that Canada has failed on so many fronts to ensure an effective and efficient legislative, enforcement, and prosecutorial regime existed for almost two decades, thereby making Canada an attractive venue for transnational organized crime groups. This has resulted in Canada having to prove that as a country we can combat money laundering if we want to shore up our failing international credibility. Failure to address these concerns will damage Canada’s reputation as a stable and transparent financial hub, while also complicating its relationships with other Western countries, including the United States. The government must intensify efforts to strengthen regulatory frameworks and enhance cross-border cooperation in financial crime prevention.

    The Federal Election: A Fork in the Road

    As 2025 approaches, Canada’s political landscape is increasingly polarized. The upcoming federal election promises to be a defining moment for the nation, as Canadians grapple with issues such as climate change, economic recovery post-COVID, affordability, and national unity. Without a doubt, I would argue the silent majority has been awakened and recognizes the past eight years of adopting a strong left-leaning stance has destroyed our reputation, thereby making us an easy target for President-elect Trump’s jibes and eventual pressure policies. The federal government will need to address voter concerns over Canada’s long-term economic health, our failed federal enforcement activity, and our weakened military.

    At the same time, the political environment is also becoming more contentious, with rising populism and discontent in some regions. The election could see significant shifts in power, with both the Liberal and Conservative parties positioning themselves to address key issues such as national security, healthcare, and environmental sustainability. The outcome of this election will set the tone for how Canada navigates both domestic and international relations in the years to come.

    U.S.-Canada Relations: A Symbiotic but Complex Partnership

    Canada’s relationship with the United States remains the cornerstone of its foreign policy. As the world’s largest trading partner, the U.S. is integral to Canada’s economy. However, relations between the two countries are often fraught with tensions, from trade disputes to environmental policies. In 2025, this partnership will be tested further, particularly as both nations contend with the challenges of climate change, security concerns, and evolving trade agreements.

    The U.S. presidential election in 2024 has already caused profound impacts on Canada’s policy decisions and political culture. While Canada and the U.S. share many common interests, the complexities of these issues—ranging from pipeline disputes to defense policy—will require sophisticated diplomacy to ensure the continued strength of this vital partnership.

    Canada will also need to navigate the increasing pressure from the U.S. to align with its foreign policy stance, particularly in relation to China, Russia, and international trade agreements. While maintaining sovereignty is critical, Canada must ensure its policies do not continue to erode relations with its largest neighbor and closest ally.

    A Year of Critical Decisions

    Canada in 2025 faces a year of unprecedented decisions, with geopolitical tensions, financial integrity, and political stability all in play. The global stage is shifting, and Canada’s role within this changing landscape will depend on how effectively it addresses both internal challenges and external pressures. As the nation prepares for an important election and responds to global geopolitical shifts, it will need strong, visionary leadership to steer it through uncertain waters. Whether it is rethinking its relationship with China, confronting the realities of money laundering, or strengthening ties with the U.S., Canada’s future will depend on its ability to navigate this complex and interconnected world.

    Ultimately, 2025 presents Canada with an opportunity to reassert its values, chart a clear course in the face of global uncertainty, and ensure that it remains a respected and influential player on the world stage.

    Tyler Durden
    Mon, 12/30/2024 – 19:15

  • Lockdown Fanatic Leana Wen Pushing Bird Flu Jabs Before Trump Takes Office
    Lockdown Fanatic Leana Wen Pushing Bird Flu Jabs Before Trump Takes Office

    Leana Wen – the former Baltimore Health Commissioner who burst onto the scene during the Boston Marathon Bombing – only to recommend forcing the unvaccinated to remain indoors during the COVID pandemic – is now pushing the Biden administration to expedite the approval of a bird flu vaccine before Donald Trump’s inauguration.

    During a Sunday interview with CBS News‘s “Face the Nation,” Wen said “There are two main things they should be doing in the days that they have left,” adding “The first is to get testing out there… we should have learned out lesson from Covid that just because we are not testing, it doesn’t mean the virus isn’t there.”

    Wen then said that the “second very important thing” is that the Biden administration work to secure FDA authorization for the widespread use of bird flu vaccine, adding that Trump has “people coming in with anti-vaccine stance.”

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    The H5N1 vaccine is awaiting FDA approval, as several manufacturers have been lined up to crank out almost 5 million doses.

    “There’s research done on it. They could get this authorized now, and also get the vaccine out to farm workers and to vulnerable people,” said Wen.

    Wen’s comments come after a handful of housecats and livestock died of the virus – leading California to declare a state of emergency,  and one man was hospitalized with a severe case that was found to be a mutated version.

    There has been no evidence of human-to-human spread, though we’re sure the Wuhan alumni can fix that.

    More on Wen from Dr. Simon Goddek;

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    Tyler Durden
    Mon, 12/30/2024 – 18:50

  • Listserv Journalism
    Listserv Journalism

    Authored by John Maxwell Hamilton via RealClearPolitics.com,

    Anyone wanting to understand how truth has become a free-for-all need look no further than an idea conceived by Dr. Patrick Soon-Shiong, owner of the Los Angeles Times.

    This month Soon-Shiong announced his daily newspaper would provide readers with a “bias meter” next to each news report. If readers do not like the point of view of a story, they “can press a button and get both sides of that exact same story based on that story, and then give comments.”

    Newspapers have a long history of idiosyncrasies. In line with Christian Scientists’ preference for spiritual healing, their newspaper the Christian Science Monitor did a poor job of covering medical news during much of its otherwise illustrious history. Col. Robert McCormick, publisher of the Chicago Tribune in the mid-20th century, used his paper to promote alternative spellings such as “thru” for “through” and “iland” for “island.” His “sane spelling” crusade fizzled.

    Soon-Shiong’s innovation at the Los Angeles Times, however, is in a class by itself. It is an advertisement not to buy his newspaper. People who subscribe to the Times, the largest newspaper west of the Mississippi River, do so presumably because its reporters make sense of current events. If people don’t believe reporters do that, then why should they buy the newspaper? It is easy to see why many of the newspaper’s accomplished journalists are jumping ship.

    Soon-Shiong has made millions inventing medicines. But his bias meter invention is poison for his paper and, in effect, for newspapers generally. It argues that news should be what you want it to be. Readers are invited to treat the news as a listserv in which liked-minded people gather around mutual interests and don’t challenge each other’s point of view.

    To understand the significance of this, consider what happens when traditional newspapers such as the Los Angeles Times make a mistake. They publish a correction. How many admissions of error do you read on your favorite partisan site?

    The any-news-you-want syndrome has been building momentum for some time. Much of cable news employs the bias meter concept. Press your remote and you get MSNBC or Fox News, depending on what alternative partisan universe you want. Or you can click on social media that have even less interest in facts or fairness – and have large audiences eager to hit the “thumbs up” reply button.

    Elon Musk showed the wreckage that can be caused by this sort of news media when he intervened in the budget negotiations a few days ago. In scores of early-morning tweets on his social media platform X, he badgered Republicans to renege on a bipartisan budget agreement. He passed along misinformation on the bill, for instance, that it included a 40% pay raise for members of Congress. (The proposed increase was actually a 3.8% cost-of-living increase for members whose pay hasn’t been augmented in 15 years). Republican legislators, fearful of a backlash, fell in line.

    This descent into listserv journalism is part of a broader pattern of mediating institutions losing their power. As Musk’s sway over congressional legislation shows, political parties find it difficult to manage their own agenda or their own members. Americans may dislike the idea of presidential candidates being chosen in “smoke-filled” rooms, but the largely unmediated primary system in place today produces candidates who are more extreme and possess less political experience. In the recent presidential election, many voters bemoaned that both candidates were deeply flawed.

    As political scientist Thomas Patterson has noted, “For all of their shortcomings, parties are the best instrument of democratic politics.” The absence of party discipline is a key factor in Congress’ difficulty passing routine measures such as budget appropriations.

    Think tanks, another mediating institution, also have gone off the rails. When they were originally created more than a century ago, think tanks were – in the words of journalist Walter Lippmann – “bureaus of intelligence.”  They were supposed to apply in-depth, objective research to address a wide range of social, economic, and political problems, from diplomacy to health care. Unfortunately, they have become increasingly partisan along the lines of the liberal Center for American Progress or the conservative Heritage Foundation, whose controversial Project 2025 is a blueprint for reshaping the government under a Trump administration.

    “If partisan think tanks did not exist,” political scientist E.J. Fagan has noted, “American politics would be far less polarized.”

    Newspapers such as the Los Angeles Times traditionally have played an important role in keeping the other mediating institutions honest. They were not perfect at this task. But institutional models are rarely a choice between good and bad. They are a choice between better and worse. We are far worse off when the goal of journalism is to make readers, viewers, and listeners happy, rather than challenged.

    Publishers like Patrick Soon-Shiong should be applauded for wanting more conservative voices on their newspaper’s opinion page. Diversity of viewpoint is the principle behind RealClearPolitics, and it serves readers well. There is nothing to applaud, however, in discrediting the idea of tough reporting.

    Nor should we applaud media moguls and cable TV personalities trooping to Mar-a-Lago to kiss the ring of President-elect Trump. Among these is Jeff Bezos, owner of one of the most influential independent newspaper franchises in the country, the Washington Post. He recently dined with Trump and Musk and has declared he is “optimistic” about the upcoming Trump administration.

    Bezos was not such a cheerleader when he and a few top Post executives had an off-the-record dinner with Trump at the start of his first term. Marty Baron, the Post’s top editor at the time, wished they had not dined with Trump at all. “Surely,” Baron wrote in his recent memoir, “he would see the dinner as a favor and expect something in return. … Our job was to report aggressively on the president to hold his administration, like all others, to account.”

    One of the lessons from the rapid turnover of White House staff during Trump’s first term is that his loyalty is conditional. Every figure in Trump’s life is an apprentice, easily discarded, depending on how compliant they are to his wishes. There’s little doubt that Elon Musk will learn this lesson himself in due course. But serious newspaper owners will be banished more quickly from Trump’s good graces. Their objective should be to enhance the credibility of their newspaper by keeping the president at arm’s length.

    Fact-based news, as we knew it a generation ago, is in mortal combat with news that is agenda-driven.

    We live in a world where it is easier than ever to hide from facts that are inconvenient but enlightening.

    The bias meter is not a solution. It is the problem.

    If owners of news media with long traditions of excellence don’t understand that basic fact of life, high quality journalism is doomed.

    Tyler Durden
    Mon, 12/30/2024 – 18:25

  • The Only Real Winners Are The Trial Lawyers
    The Only Real Winners Are The Trial Lawyers

    Authored by Gordon Gray via RealClearPolicy,

    On Monday, December 2, Delaware Chancery Court Judge Kathleen McCormick delivered her ruling on Tesla’s proposed $56 billion pay package for CEO Elon Musk, striking it down despite shareholders voting twice to approve the deal.

    Let’s unpack the absurdity of this ruling: A Tesla shareholder with just nine shares sued over Musk’s proposed compensation, triggering a six-year legal battle. While Tesla argued the case was flawed, the judge sided with the plaintiff, citing transparency issues.

    The plaintiff’s lawyers originally demanded up to $7.74 billion in fees—more than Volvo’s market cap—and ultimately walked away with $345 million in legal fees, one of the largest payouts in securities litigation history.

    The only winners here were the trial lawyers. Our legal system is dysfunctional, increasingly weighed down by opportunistic lawsuits and substantial payouts. The Trump Administration has an opportunity to reverse this trend. Runaway litigation hurts our small businesses, burdens consumers with increased costs, and drives up the price of almost everything for everyone.

    According to a 2024 Institute for Legal Reform (ILR) study, the costs of lawsuits, settlements, and related legal fees — commonly known as tort costs — totaled $529 billion, amounting to “2.1 percent of the U.S. GDP.”  And the costs placed on consumers keep climbing: between 2016 to 2022, “tort costs have grown at an annual rate of 7.1 percent.” If these trends continue, the costs to American businesses will double in eight years, the ILR warns. This is unsustainable.

    Families, small businesses, and the private sector aren’t alone in facing this burden. The Congressional Research Service estimates that the federal government paid out $525.35 million to individual claimants in fiscal year 2022 alone. That’s more than half a billion dollars in taxpayer money to settle claims — a staggering figure.

    As these costs grow, they become embedded in the prices consumers pay. Even if you don’t own a car, exploding auto insurance premiums get embedded in the cost of transportation, much like the cost of medical liability insurance raises the cost of health care for patients. The cost of doing business in the face of the threat of litigation ultimately comes out of consumers’ pockets. The ILR study found that on average, U.S. households paid a $4,207 “tort tax” in 2022. You don’t pay a “tort tax” directly but it’s built into the price of everything you buy everyday.

    The issue of runaway litigation is about much more than Elon Musk – it’s about the broader impact on America’s economy.  In the wake of the ruling, market leaders and investors have raised concerns about the chilling message this massive fee sends. Hedge Fund Manager Bill Ackman called the “payola for lawyers absurd” and predicted a “migration of corporate America from Delaware.” Investor Cathie Wood said the ruling makes “a mockery of the sense of fairness essential to our American judicial system.” Florida’s Chief Financial Officer Jimmy Patronis noted that the award is “…like throwing sand in America’s economic engine.”

    As the Delaware judgment makes clear, more could be done at the federal level to curb the egregious growth in tort costs. President Trump has vowed to lower costs for American families. One of his first acts as President-elect was to establish “DOGE,” the Department of Government Efficiency, co-led by Elon Musk, to claw back the growth of the administrative state. Tackling these tort taxes should be a key focus of this effort.

    By easing costs on families and dismantling America’s runaway legal system, the Trump administration can unleash the full potential of our economy.

    Gordon Gray leads Pinpoint Policy Institute as Executive Director. Prior to launching Pinpoint, Gordon served as the Vice President for Economic Policy at the American Action Forum, where his portfolio included the federal budget, taxes, the macroeconomic outlook, and general economic policy matters.

    Tyler Durden
    Mon, 12/30/2024 – 17:40

  • Two Men Freeze To Death Looking For Sasquatch In The Oregon Wilderness On Christmas Eve
    Two Men Freeze To Death Looking For Sasquatch In The Oregon Wilderness On Christmas Eve

    Today in “play stupid games, win stupid prizes” news…

    Two Oregon men searching for the mythical Sasquatch tragically died after going missing in the wilderness on Christmas Eve, according to the NY Post.

    The Skamania County Sheriff’s Office reported that the bodies of the men, aged 37 and 59, were discovered in a remote, forested area of Washington’s Gifford Pinchot National Forest. Authorities believe the pair succumbed to exposure due to severe weather conditions and inadequate preparation for the harsh environment.

    The men had embarked on their quest to find Bigfoot with plans to return home in time for Christmas, but their ill-fated journey ended in tragedy.

    The NY Post writes that a family member reported the men missing to Skamania County police early on Dec. 25, prompting a three-day search involving over 60 volunteers.

    Battling freezing temperatures, snow, rain, and dense forest, search teams utilized canines, drones, helicopters, and ground crews. Seven law enforcement agencies and the Coast Guard also assisted in the effort.

    The Sheriff’s office commented: “Their exhaustive search efforts resulted in bringing family members home to their loved ones. The Skamania County Sheriff’s Office extends our deepest sympathies and condolences to the families of the loved ones lost in this tragic incident.”

    The men’s car was spotted via a Flock camera and later found in Willard, Washington.

    The legend of Bigfoot, a mythical creature said to roam the Pacific Northwest, continues to draw adventurers to the forests of Washington and Oregon. The fascination has even inspired local events like Sasquatch hunts in Washington’s Pierce County.

    Bigfoot lore isn’t limited to the Pacific Northwest. In October, residents of Fairfield County, Connecticut, reported eerie 10-minute-long howls, attributed to Bigfoot, coming from a forested area near Monroe, according to the Bigfoot Field Research Organization.

    Tyler Durden
    Mon, 12/30/2024 – 17:20

  • "It's A Cover-Up And It's Terrifying": CIA Whistleblower Says Foreign Adversary 'Likely' Responsible For Havana Syndrome
    “It’s A Cover-Up And It’s Terrifying”: CIA Whistleblower Says Foreign Adversary ‘Likely’ Responsible For Havana Syndrome

    Authored by Debra Heine via American Greatness,

    A former Intelligence officer is accusing the CIA of gaslighting the victims of a debilitating health phenomenon known as Havana syndrome.

    Investigative journalist Catherine Herridge sat down with the CIA whistleblower to hear about her “career-ending injuries” in an exclusive interview posted on X.

    The House Intelligence Committee recently determined in an interim report that “the Intelligence Community has attempted to thwart congressional efforts to uncover the truth at every turn.”

    “It’s a cover-up and it’s terrifying,” said the former intel officer, who spoke to Herridge using the alias “Alice.  “It should be terrifying for all Americans.”

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    Dubbed “Anomalous Health Incidents (AHIs),” the syndrome was first experienced by U.S. government personnel stationed in Havana, Cuba, in 2016.  Those affected reported hearing piercing noises and then suffering head pressure followed by various symptoms, including headache, nausea, fatigue, dizziness, vertigo, ear pain, and cognitive dysfunction.

    Hundreds of cases of the Havana syndrome have since been reported, chiefly among US spies, diplomats and soldiers posted abroad, leading many to believe they were targeted by a hostile country with a high powered microwave system weapon.

    However, the Intelligence Community has consistently resolved that the mysterious illnesses were unlikely the work of a foreign actor, and more likely “attributable to naturally occurring medical conditions, environmental exposures, or psycho-social factors.”

    The Democrat-controlled U.S. Senate came to the same conclusion in a new report released on Friday.

    The House Intelligence Committee however determined in its Dec. 5 report that it is “increasingly likely a foreign adversary is responsible for some portion of reported AHIs.”

    Both committees concluded that the CIA’s handling of the Havana Syndrome cases has been seriously flawed and inconsistent.

    “The conclusions published by the DNI in the unclassified Intelligence Community Assessment on AHI are dubious at best, misleading at worst,” said House Permanent Select Committee on Intelligence CIA Subcommittee Chairman Rick Crawford (R-Ark.)

    “Alice,” who now requires the assistance of a service dog, handled top secret national security missions just a few years ago, Herridge noted in her report.

    The whistleblower said she believes her career-ending injuries were caused by a foreign directed energy weapon.

    There is documented evidence to support this claim.

    The National Security Agency (NSA) confirmed in 2014 that the intelligence community was aware that a foreign adversary possessed a high powered microwave system weapon that could “weaken, intimidate or kill an enemy over time without leaving evidence.”

    According to the unclassified NSA report, the intelligence community knew in 2012 that a foreign adversary had designed a weapon “to bathe a target’s living quarters in microwaves, causing numerous physical effects, including a damaged nervous system.”

    AHIs have been reported in the U.S. and in multiple other countries, including Austria, Columbia, China, Georgia, Germany, India, Poland, Russia, and Vietnam.

    Alice said she experienced her AHI one night while serving in Africa.

    “I heard a weird noise—it was a really weird sound, I’ll never forget it,” she said, adding that she also felt a vibration in her feet.

    She described the onset of her symptoms, telling Herridge, “my ear started hurting. I had vertigo, the room started spinning, my head started pulsing. I had a ton of pain in my left ear.”

    The former intel officer added that her ears started ringing and she thought she was going to “pass out.”

    She has since been diagnosed with traumatic brain injury. According to Herridge, Alice needed to take several breaks during the interview and needed to wear sunglasses to reduce the glare of the camera lighting.

    “I never thought I’d be retired in my forties,” she said.

    Alice told Herridge that she suspected that there a multiple weapons capable of causing these symptoms, and they are probably small enough to fit in backpacks.

    A leaked Defense Department letter acknowledges that the injuries and experiences “are real”—not the result of “psycho-social factors.”

    Alice said she blames Russia for the attack.

    “I believe the Russian GRU [military intelligence service] came to my house late at night … and took me off the battlefield,” she said.

    According to Herridge, multiple sources have told her that CIA Director Robert Burns has said privately that he also believes Russia is responsible for some of the attacks.

    But the Intelligence Community officially determined in a 2023 IC assessment that it was “very unlikely” that the AHIs were brought on by a foreign adversary.

    Alice said that had she received the IC report while she was still a CIA official, she would have sent it back to the analysts and told them to “start over again” because it didn’t meet even the agency’s “most basic” standards.

    Herridge asked the former agent if she found the report to be “demoralizing,” humiliating, a “slap in the face,” and a “betrayal” after she had pledged to serve her country.  Alice replied “yes” to all of the above.

    “I miss my colleagues and I miss the work every single day,” she said.

    Alice told Herridge that she believed the CIA has gaslit her and every other agent who has suffered from Havana Syndrome by not taking their injuries seriously.

    Her voice cracking, the whistleblower said she had already gone to the funerals of several of her CIA friends after they had lost their battles with cancer.

    “We’re basically like ticking time bombs,” she said. “I have friends in nursing homes. I have friends with Parkinson’s, dementia.”

    A heavily redacted U.S. government report obtained by Herridge shows how the CIA pulled Alice’s security clearance after she was medically retired, “citing psychological conditions.”

    “It sounds like retaliation,” Herridge said. “Did CIA treat women officers differently? she asked, adding that she had read reports where female officers had been told their issues were possibly hormonal.

    Alice said the chauvinistic attitude seemed like a throwback to the 1950s.

    “They brought up, “could you be pregnant?, are you upset because you’re not pregnant?, is it hormones?, is it menopause?, is it perimenopause?, do you have an anxiety disorder?,” she said.

    In March of 2024, the Department of Defense stated in a letter to colleagues that “we believe your experiences are real and we are unwaveringly committed to continue to provide quality care for you and those that are eligible.”

    Herridge posited that one possible reason for the CIA refuses to admit agents are being targeted with powerful microwave weapons is that it such an admission would devastate the agency’s recruitment efforts.

    Alice agreed and called on the CIA to stop denying “what is happening to us” so there can continue to be opportunities for the U.S. “to collect information that we need to prevent this from happening to more people.”

    She expressed hope that the Trump administration will “drain the swamp” and at a bare minimum, replace the intel analysts behind the fraudulent 2023 IC report.

    Tyler Durden
    Mon, 12/30/2024 – 17:00

  • US Credit Card Defaults Soar To Crisis Highs As Inflation Storm Crushes Working-Poor
    US Credit Card Defaults Soar To Crisis Highs As Inflation Storm Crushes Working-Poor

    The party is long over for the bottom third of US consumers, as maxed-out credit cards and depleted personal savings have pushed credit card loan defaults to their highest level since the 2008 financial crisis.

    Financial Times cited new data from BankRegData revealing that credit card companies wrote off $46 billion in “seriously delinquent loan” balances in the first nine months of the year—an alarming 50% increase from the same period last year and the highest level in 14 years.

    Source: Financial Times 

    US credit debt recently surpassed $1 trillion and continues to expand rapidly. Making matters worse, annual percentage rates (APRs) on credit card debt have hit record highs, compounding the financial misery for cash-strapped consumers in the era of failed ‘Bidenomics’. 

    Despite the interest rate cut, the average APR on credit card debt reached a new record at the end of the third quarter. 

    With the election over, the Biden administration’s Department of Commerce revised personal savings data downward by a staggering $140 billion. In other words, radicals in the Biden administration and far-left Democrats pushed nothing more than economic propaganda. 

    The head of Moody’s Analytics, Mark Zandi, noted, “High-income households are fine, but the bottom third of US consumers are tapped out,” adding, “Their savings rate right now is zero.” 

    This collapse in personal savings, combined with insurmountable credit card debt, largely explains why the bottom third of Americans are not only living paycheck to paycheck but also have financially committed suicide with the explosive use of toxic Buy Now, Pay Later services. 

    “Consumer spending power has been diminished,” Odysseas Papadimitriou, head of consumer credit research firm WalletHub, pointed out. 

    WalletHub’s Papadimitriou warned, “Delinquencies are pointing to more pain ahead.” 

    Tyler Durden
    Mon, 12/30/2024 – 16:40

  • No, The Truth Is Not Just Another Story
    No, The Truth Is Not Just Another Story

    Authored by James Howard Kunstler,

    “The Democrats are self-immolating on the altar of their own tenuous relationship with common decency.”

    – Tom Luongo

    It must be obvious that the incoming government under Mr. Trump has one primary duty overall: sorting out truth from lies so the nation can reestablish a baseline reality to function upon. America is so punch-drunk from official lying that many intelligent people who ought to know better now proclaim that reality is unknowable, which is just a surrender to nihilism — the rejection of moral principle, a belief that the human project is meaningless.

    This awful condition has led to the point where you know for sure that “Joe Biden” cannot possibly discharge his duties as chief executive, and yet nobody cares enough to investigate who is running things behind the front he puts up. That would generally be the job of the news media, which is supposed to function as the public’s auditor. Now, of course, you are persuaded that this was never really their job, that it was a sham, but that is just another lie.

    The news was not flawless, but neither was it presented as nothing more than opinion. The news existed to register what happened day-to-day. It was not so much concerned with why things happened, which was much more difficult to establish, and usually reserved for the pages labeled “opinion,” so that you knew it was somebody’s conjecture. I know this because I worked as a newspaper reporter in the 1970s. I actually found out what was going on about this-and-that, wrote it up, and saw it in print hours later. The facts.

    Journalism had some simple rules for reporting the facts about anything — and it’s hilarious that anyone thought it required a graduate degree from some credentialing mill like the Columbia U. School of Journalism. The news was often meddled-with by interested parties, government and business, but they did not completely overwhelm the ant-like labors of x-thousands of reporters in the field, and the stream of fact they circulated.

    Not all of it was subject to dispute, meddling, or opinion because it was self-evident: Joe Blow got shot. . . a helicopter crashed in Ohio. . . a volcano erupted in Peru. . . .

    Only over time, the past thirty years especially, our government grew and grew and one of the things that grew out of it was the nefarious “blob” dedicated to protecting the self-enlarging perquisites and interests of that government. Blobs will absorb things they encounter, and in a predatory way, the US government blob absorbed the US news media. The blob transformed the news into an engine for suppressing the facts or spinning them narratively when they could not be suppressed, in order to maximize the advantage of the government and to protect the operations of the blob itself.

    It is also a fact that this blob is aligned mostly with Democratic Party, because that party is most avid for the continuing growth of government, and its members overwhelmingly dominate in the officialdom that dwells inside the DC Beltway.

    The numbers speak for themselves on the DC voter rolls.

    So, a new government under Mr. Trump is feared cringingly by the news media.

    For one thing, the incoming government has tasked itself with reducing government substantially, eliminating many of its perquisites, and surgically excising the nefarious blob that is draining the purpose, meaning, and vitality out of our national life. The news media is terrified of being found-out for having acted as the blob’s chamberlain. We may find out exactly how that worked — how, for example, professional liars such as Joy Reid and Rachel Maddow of MSNBC were paid. What accounted for the amazing coordination of talking-points from day-to-day across all networks and newspapers?

    We are about to find out how a whole lot of mystifying things have happened in recent years.

    • For instance, those fantastic vote switcheroos in “Joe Biden’s” favor that occurred visibly right on TV in the wee hours of November 4, 2020?
    • How did William Barr conceal the existence of Hunter Biden’s laptop from Mr. Trump’s defense attorneys in the 2019 impeachment over a phone call to Ukraine?
    • Who really has been making “presidential” decisions behind the false front of “Joe Biden?”
    • Who in White House news reporters’ pool among the Cable News networks, The New York Times, and The Washington Post happened to know which officials were running the White House operation (did they not have sources)?
    • How did the FBI engineer the Jan. 6, 2021, riot and with how many agents and operatives on-site?
    • Who was in charge of the DNC pipe bomb caper?
    • How has George and Alex Soros’s network of money-dispensing NGOs been allowed to buy law enforcement offices all over country?
    • How did Merrick Garland’s errand boys get to New York Attorney General Letitia James and Fulton County DA Fani Willis?
    • What has been done with the billions of dollars sent to Ukraine?
    • Why is the CDC still advertising and promoting mRNA Covid vaccines that they must know have killed and disabled millions of people?
    • Who thought it was a good idea to fill the ranks of the US military with transexuals?
    • How did the order to throw the US-Mexican border wide open move through the chain-of-command, exactly?

    Things like that.

    It is going to be a great shock for many to hear the facts about these things and a lot more and to learn that we don’t just dwell in some matrix of tales told by idiots. The nihilism will eventually dissipate. Many enterprises in the news business won’t survive this, but human beings will insist on being informed, and the news business has been very busy rearranging itself. Even the body politic is capable of self-healing

    Meanwhile, the “Joe Biden” Catering Company, Inc, has been busy preparing a whole lot of shit sandwiches to serve at the Trump inauguration, mostly in the form of financial chaos. The catering staff better be cognizant that their pranks will be found-out, too, along with all the other treasonous business of the wicked times we’ve lived through.

    Tyler Durden
    Mon, 12/30/2024 – 16:20

  • Ethereum Long-Term Holders Climbed In 2024 As Bitcoin Holders Fell
    Ethereum Long-Term Holders Climbed In 2024 As Bitcoin Holders Fell

    Authored by Tom Mitchelhill via CoinTelegraph.com,

    The number of long-term Ether holders steadily increased throughout 2024, while the number of Bitcoin holders fell over the last year amid rising confidence in ETH heading into the new year. 

    In a Dec. 30 post to X, citing data from its platform, IntoTheBlock shared that the total percentage of Ether who had held their tokens for the long haul had risen from 59% in January to 75% by the end of 2024.

    Source: IntoTheBlock

    Meanwhile, the number of long-term Bitcoin holders witnessed a steady decline from about 70% to 62% in the same timeframe. 

    As of Dec. 30, the proportion of long-term Bitcoin holders stood at 62.3% while the proportion of long-term Ethereum holders was at 75.1%.

    IntoTheBlock has previously described long-term holders as those holding an asset for more than a year.

    While this metric is one of many that investors can look at to gauge market sentiment toward major crypto assets, a continued shift toward long-term holding for ETH also suggests growing confidence in the asset heading into 2025. 

    In a Dec. 17 post to X, technical analyst Ger Van Lagen said Bitcoin’s price was “blowing off,” with BTC later dropping from an all-time high of $106,000 to $93,000 between Dec. 16 and Dec. 30. 

    Source: Gert Van Lagen

    Van Lagen suggested this move was driven largely by long-term holders cashing out amid a period of euphoria and maintained a distinctly bullish outlook on BTC, predicting the asset was on track to surpass $200,000 in the near future. 

    Meanwhile, in the last month, inflows into spot Ether ETFs have doubled, surging from $1 billion in net inflows in November to $2.1 billion worth of cumulative net inflows in December.

    Several experts from different sectors of the crypto industry said that a Trump administration will prove beneficial to ETH in particular. 

    They cited a swathe of new developments for taking a bullish stance on ETH heading into 2025, ranging from the demise of “financial nihilism,” a complete overhaul of the SEC, the addition of staking to Ether ETFs and increased regulatory oversight from the Commodity Futures Trading Commission (CFTC).

    Tyler Durden
    Mon, 12/30/2024 – 15:45

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Dec 30

Today’s News 30th December 2024

  • Engineering Reality: A Century Of Cultural Control, Part I – The Architecture Of Control
    Engineering Reality: A Century Of Cultural Control, Part I – The Architecture Of Control

    Authored by Joshua Stylman via substack,

    A Century of Cultural Control From Edison’s Monopolies to Algorithmic Manipulation

    Author’s Note: For years, I understood advertising was designed to manipulate behavior. As someone who studied the mechanics of marketing, I considered myself an educated consumer who could navigate rational market choices. What I didn’t grasp was how this same psychological architecture shaped every aspect of our cultural landscape. This investigation began as curiosity about the music industry’s ties to intelligence agencies. It evolved into a comprehensive examination of how power structures systematically mold public consciousness.

    What I discovered showed me that even my most cynical assumptions about manufactured culture barely scratched the surface. This revelation has fundamentally altered not just my worldview, but my relationships with those who either cannot or choose not to examine these mechanisms of control. This piece aims to make visible what many sense but cannot fully articulate – to help others see these hidden systems of influence. Because recognizing manipulation is the first step toward resisting it.

    This investigation unfolds in three parts: First, we’ll examine the foundational systems of control established in the early 20th century. Next, we’ll explore how these methods evolved through popular culture and counterculture movements. Finally, we’ll see how these techniques have been automated and perfected through digital systems.

    Introduction: The Architecture of Control

    In 2012, Facebook conducted a secret experiment on 689,000 users, manipulating their news feeds to study how changes in content affected their emotions. This crude test was just a glimpse of what was coming. By 2024, algorithms would not be used to simply shape what we feel, but what we believe it is even possible to think.

    Social media platforms are now able to predict and modify behavior in real-time, while streaming services automatically and continuously curate our cultural consumption, and digital payment systems track every single transaction. What began as simple emotional manipulation has become comprehensive consciousness control.

    This power to mold human perception didn’t emerge overnight. The mechanisms of cultural control we see today were built over more than a century, evolving from Edison’s physical monopolies to today’s invisible digital chains. To understand how we arrived at this point of algorithmic consciousness control – and more importantly, how to resist it – we must first trace the historical foundations of these systems and the deliberate architecture of control that shaped them.

    The psychological manipulation revealed by the Facebook experiment may seem like a modern phenomenon, but its roots stretch back to the earliest days of mass communication. One of the first architects of cultural control was Thomas Edison, whose establishment of the Motion Picture Patents Company in 1908 laid the groundwork for a century of systematic influence.

    Part One: Laying the Foundation

    When Thomas Edison established the Motion Picture Patents Company in 1908, he created more than a monopoly – he demonstrated how five key mechanisms could systematically control information and shape consciousness: infrastructure control (film production equipment), distribution control (theaters), legal framework (patents), financial pressure (blacklisting), and legitimacy definition (“authorized” vs “unauthorized” content). These same mechanisms would evolve and reappear across industries and eras, becoming increasingly sophisticated tools for engineering public consciousness and controlling the boundaries of possible thought and expression.

    The Rise of Institutional Control

    While Edison was establishing control over visual media, a broader system of institutional power was rapidly taking shape. The early 20th century would witness an unprecedented convergence of concentrated control across multiple domains.

    When antitrust action broke up the Edison Trust in 1915, control simply shifted from Edison’s patent monopoly to a small group of studios. While presented as creating competition, this “breakup” actually consolidated power in an oligarchy of studios that could more effectively and subversively coordinate content control and messaging – a pattern that would repeat in future antitrust actions.

    While the Trust’s breakup appeared to create competition, new forms of control quickly emerged. The Motion Picture Production Code (Hays Code) established in 1934 demonstrated how moral panic could justify systematic content control. Just as Edison had controlled film distribution, the Hays Code controlled what could be depicted on screen, establishing templates for narrative manipulation that would persist into the digital age.

    Edison’s template for controlling visual media would soon be replicated across other domains. As I detailed in ‘The Information Factory’, Rockefeller deployed an identical template in medicine: infrastructure control (medical schools), distribution control (hospitals and clinics), legal framework (licensing), financial pressure (strategic funding), and legitimacy definition (“scientific” vs “alternative” medicine). This wasn’t just about eliminating competition – it was about controlling what constituted legitimate knowledge itself.

    This wasn’t a coincidence. The early 20th century witnessed unprecedented bureaucratic convergence, as formerly separate domains – medicine, media, education, finance, entertainment, and scientific research – began operating with remarkable coordination. The walls between public institutions, private industry, and government agencies became increasingly permeable. Major foundations played a crucial role in this convergence. The Rockefeller and Ford Foundations, while presenting themselves as philanthropic organizations, effectively shaped academic research priorities and social science methodologies. Through strategic grant-making and institutional support, they helped establish and maintain approved frameworks for understanding society itself. By determining what research got funded and which ideas received institutional backing, these foundations became powerful gatekeepers of acceptable knowledge—extending Rockefeller’s medical model into the broader intellectual sphere.

    This unprecedented administrative alignment represented more than coordination – it established interlocking systems for controlling both physical reality and public consciousness. From Edison’s control of visual media to Rockefeller’s definition of medical knowledge to the Federal Reserve’s monetary control, each piece contributed to a comprehensive architecture of social control. What made this system so subtly pervasive was its masterful packaging – each erosion of autonomy was presented as progress, each restriction as protection, each form of control as convenience. The public not only accepted but eagerly embraced these changes, never recognizing that their choices, beliefs, and very understanding of reality were being carefully engineered through institutions they trusted.

    The power of this converged system was first demonstrated at scale in profoundly reshaping America’s global role. The narrative of American ‘isolationism’ emerged as one of the most influential shapers of public consciousness. While America had long projected power through banking networks, corporate expansion, and gunboat diplomacy, this reality was gradually reframed and cunningly marketed to an unsuspecting public By establishing a story of American withdrawal from world affairs, advocates for military intervention could position themselves as reluctant modernizers guiding a hesitant nation toward global responsibility. J.P. Morgan’s simultaneous acquisition of major newspapers, controlling 25% of American papers by 1917, helped establish this narrative framework. It wasn’t just about profit – it was about establishing the machinery of public consciousness management in preparation for coming conflicts desired by the ruling class.

    By the 1950s, Operation Mockingbird formalized this influence as the CIA systematically infiltrated major media organizations. The program demonstrated how thoroughly intelligence agencies understood the need to shape public perception through seemingly independent channels. Building on methods refined during wartime propaganda efforts, Mockingbird’s techniques would influence everything from news coverage to entertainment programming, establishing templates for information manipulation that continue to evolve today.

    What Operation Mockingbird achieved through human editors and planted stories, today’s platforms accomplish automatically through content moderation algorithms and recommendation systems. The same principles of narrative control persist, but the human intermediaries have been replaced by automated systems operating at breathtaking speed on a global scale.

    This media-intelligence nexus was exemplified by William S. Paley, who transformed CBS from a small radio network into a broadcasting empire. During World War II, Paley served as supervisor of the Office of War Information (OWI) in the Mediterranean theater before becoming chief of radio in the OWI’s Psychological Warfare Division. His wartime experience in psychological operations directly informed CBS’s postwar programming strategy, where entertainment began to serve as an effective vehicle for social engineering. Under Paley’s leadership, CBS became known as the ‘Tiffany Network,’ masterfully blending entertainment with subtle manipulation techniques refined during his psychological warfare service. This fusion of entertainment and social control would become the template for modern media operations.

    This machinery of mass influence would adapt to emerging technologies. By the 1950s, the payola scandal revealed how record companies shaped public consciousness through controlled exposure. Presented as a controversy about DJ bribes, payola actually represented an evolved system for shaping popular taste. The companies controlling these cultural channels maintained deep institutional ties – Paley’s CBS Records continued its military contractor relationships, while RCA’s role in shaping mass culture traced back to its 1919 formation as a Navy-coordinated communications monopoly. Created to maintain domestic control of strategic communications, RCA’s expansion into broadcasting, records and consumer electronics preserved these foundational connections to military and intelligence networks. These methods of cultural control didn’t develop in isolation – they were part of a broader system of social engineering that expanded dramatically during periods of global conflict.

    While historians typically treat the World Wars as discrete conflicts, they are better understood as phases in a continuous expansion of social control mechanisms. The infrastructure and methods developed between these conflicts reveals this continuity – the wars provided both the justification and testing grounds for increasingly sophisticated systems of mass psychological manipulation. Military installations like Lookout Mountain Air Force Station in Laurel Canyon weren’t just bases – they were centers for psychological warfare operations, perfectly positioned near the heart of the entertainment industry. Lookout Mountain alone produced over 19,000 classified films, while maintaining high-level connections to Hollywood production

    By 1943, this system was so well established that the Office of Strategic Services (OSS) explicitly outlined its strategy in a now-declassified document. Their assessment was unequivocal: motion pictures represented ‘an unparalleled instructional medium’ and ‘a patent force in attitude formation’ that could ‘stimulate or inhibit action.’ The document further stated that the US must ‘exploit the potentialities of the motion picture as a weapon of psychological warfare.’ This wasn’t just about controlling information—it was about fundamentally altering how people understood and experienced reality itself.

    While Edison and Rockefeller were establishing physical control systems in America, the entertainment industry was already being integrated into intelligence operations. This pattern stretched back to the industry’s earliest days – Harry Houdini is rumored to have collaborated with British intelligence during World War I, using his performances as cover to gather information in German enclaves. From Charlie Chaplin’s films being analyzed for propaganda potential to Mary Pickford’s war bond drives setting the precedent for celebrity messaging, World War I marked the birth of systematic coordination between Hollywood and intelligence agencies. During World War II, these connections were formalized through the OSS, evolving into today’s Entertainment Liaison Office, through which agencies like the Department of Defense actively shape desired military-themed film narratives.

    Sculpting Consciousness of the Masses

    While American industries were perfecting control of physical infrastructure and entertainment, British intelligence was developing something even more fundamental – methods to control consciousness itself. Understanding that territorial control was temporary but the power to shape beliefs, desires, and worldviews could be permanent, their innovations would transform social engineering forever. In 1914, they established what began as an innocuous sounding entity called ‘Wellington House,’ which would evolve into increasingly bold bureaucratic iterations – the ‘Department of Information,’ and finally the explicitly Orwellian sounding ‘Ministry of Information.’ Through this organization, they systematized mass psychological manipulation based on new principles – that indirect influence through trusted voices works better than direct propaganda, that emotional resonance matters more than facts, that people trust peer sharing over authority. These psychological principles would become the foundational algorithms of social media platforms a century later. These insights didn’t fade with time – they evolved. When Facebook conducts A/B testing on emotional contagion or social media algorithms promote peer-to-peer sharing over institutional sources, they’re deploying Tavistock’s psychological principles in real-time.

    This work evolved through the treatment of shell-shocked soldiers at the Tavistock Clinic (later the Tavistock Institute), where Dr. John Rawlings Rees and his colleagues discovered how psychological trauma could be used to reshape not just individual consciousness, but entire social systems. Through systematic study of trauma and group psychology, they developed methods to shape not just what people could see, but how they would interpret reality itself. The Institute’s work revealed how psychological vulnerability could be used to reshape both individual and group behavior – insights that would prove invaluable as mechanisms of influence evolved from overt censorship to subtle manipulation of perception.

    Though largely unknown to the public, Tavistock would become one of the most influential organizations in shaping modern social control methods. While most people today know Tavistock only through recent controversies over gender-affirming care, the institute’s influence extends back generations, shaping cultural narratives and social transformation since its inception. Their current work represents not an anomaly but a continuation of its long-standing mission to reshape human consciousness.

    Former MI6 intelligence officer John Coleman’s seminal work The Tavistock Institute of Human Relations provided an insider’s view of its operations. More recently, researchers like Daniel Estulin, Courtenay Turner and Jay Dyer have further examined its profound impact.

    The Institute’s most refined achievement was transforming psychological theories into practical tools for cultural engineering, particularly through popular music and youth culture. By embedding their principles into seemingly spontaneous cultural trends, they created a template for social programming invisible to its subjects.

    These methods would first be tested through music. The State Department’s jazz diplomacy program of the 1950s-60s revealed how power centers understood music’s potential for cultural design. While Louis Armstrong and Dizzy Gillespie toured as ‘jazz ambassadors,’ another powerful influence was shaping the jazz scene from within. The Baroness Pannonica de Koenigswarter – born into the Rothschild banking dynasty – became a crucial patron of bebop artists like Thelonious Monk and Charlie Parker, both of whom would die in her homes years apart. While her passion for jazz may have been genuine, her deep involvement in the scene coincided with the era when the U.S. State Department and CIA were actively using jazz as a tool of cultural diplomacy. This patronage, whether intentional or not, foreshadowed a pattern of European banking aristocracy’s involvement in supposedly revolutionary musical movements.

    In Part Two, we’ll explore the next phase of consciousness control which operated through culture itself. The early experiments in jazz would evolve into an invisible and systematic program of cultural engineering. Institutions would design and ignite cultural movements that appeared organic and by doing so, governing bodies would shape not just what people thought, but their entire framework for understanding anything and everything.

    Tyler Durden
    Sun, 12/29/2024 – 23:20

  • Chinese Man Gets Death Sentence For Ramming Car Into Crowd, Killing 35
    Chinese Man Gets Death Sentence For Ramming Car Into Crowd, Killing 35

    Authored by Dorothy Li via The Epoch Times (emphasis ours),

    A Chinese man who killed at least 35 people last month by driving his car into a crowd was sentenced to death on Dec. 27, amid growing concerns over a recent wave of deadly attacks across the country.

    Lighted candles left outside the Zhuhai Sports Centre, a day after a car rammed through the site killing dozens in Zhuhai, in south China’s Guangdong province on Nov. 12, 2024. Michael Zhang/AFP via Getty Images

    The driver, identified as Fan Weiqiu, acted out of anger stemming from “a broken marriage, personal frustrations, and dissatisfaction with the way financial assets were divided during his divorce,” according to a statement from the intermediate court in Zhuhai, a city in southern China.

    Fan pleaded guilty to endangering public safety through dangerous methods, according to the court’s announcement.

    The incident occurred on the evening of Nov. 11, when Fan drove his SUV into a group of people exercising at the Zhuhai Sports Centre.

    It took nearly 24 hours for Chinese authorities to report on the casualties from the violent attack. According to local police, at least 35 people have died, with 43 others suffering severe injuries as a result of the incident. At the time, the authorities said Fan, who was in a coma and had injuries consistent with self-harm, was apprehended at the scene.

    Swift Censorship

    On China’s internet, censors responded quickly, suppressing eyewitness accounts and videos related to the incident. By the evening of Nov. 12, searches on the popular microblogging platform Weibo yielded mostly official statements, with little presence of videos or photos of the incident.

    The sports complex was closed on the day of the attack. On the morning of Nov. 13, members of the public left bouquets at one of the gates, only to see them removed within minutes. Some cleaning staff told AFP that they were following an “order from the top.”

    Meanwhile, BBC China correspondent Stephen McDonell was shoved by a man while reporting outside the complex on Nov. 12. While the man’s identity remains unclear, the BBC pointed out that such incidents are not uncommon in China, where local Communist Party officials often recruit groups of individuals to act as outraged locals, tasked with obstructing foreign reporters from covering sensitive events.

    Recent Deadly Incidents

    The incident, described by some Western media outlets as the deadliest in a decade, was one of a spate of tragic events that have occurred across China in recent months.

    On Oct. 28, at least five people, including three children, were severely injured in a stabbing incident, according to local police, who identified the suspect as a 50-year-old man surnamed Tang.

    On Nov. 16, eight people were killed and 17 others injured during a mass stabbing rampage at a vocational college in eastern China. Arrested at the scene was a 21-year-old male, identified only as Xu—a former student at the Wuxi Vocational College of Arts and Technology in Yixing in Wuxi, Jiangsu Province. Police said he later confessed to the killings.

    On Nov. 19, a driver rammed his vehicle into a crowd outside a primary school in Changde, central Hunan Province, injuring an unspecified number of people.

    Recent waves of random attacks have sparked concerns among outside observers, with some highlighting a growing desperation under the tight grip of the Chinese Communist Party.

    “Logically, if someone has a grievance, they should target the person responsible. But he may not even be able to find that person,” Li Yingzhi, an exiled rights activist, previously told The Epoch Times. “Why resort to killing innocent people? Because he has reached complete despair and no longer wants to live.”

    Workers remove flowers from a makeshift memorial outside the Zhuhai Sports Centre in Zhuhai in south China’s Guangdong province on Nov. 13, 2024. Hector Retamal/AFP via Getty Images

    Li links these violent attacks to systemic issues in China, where people were left with little recourse to seek justice or voice dissent.

    “First, there is suppression of free speech and a lack of press freedom. Second, the petitioning system is ineffective. Third, the judiciary fails to function properly. These are all systemic issues,” he said.

    “If there were effective channels to resolve problems, it wouldn’t have come to this.”

    Katabella Roberts and Cindy Li contributed to this report.

    Tyler Durden
    Sun, 12/29/2024 – 22:45

  • Biden Is Wrong To Double Down On Syria
    Biden Is Wrong To Double Down On Syria

    Authored by Alexander Langlois via American Greatness,

    On December 19, the U.S. Department of Defense announced that there are roughly 2,000 troops stationed in Syria – 1,100 more than previously shared with the public. Pentagon spokesperson Major General Patrick Ryder disclosed the new number almost off-handedly, without explanation for the shock news as Syria experiences a generational moment following former President Bashar al-Assad’s regime collapse on December 8. The announcement personifies the ongoing and widespread disdain of American political and military leaders for transparency on military operations abroad.

    Indeed, the laxness with which Ryder announced the new deployment numbers is unacceptable. These forces are not, as the spokesperson claimed, simply “temporary rotational forces” but reflect the worst excesses of mission creep that have come to define U.S. military operations in the post-9/11 era. Ryder’s follow-on statements, in the same breath as his claims of the temporary nature of the deployment, highlight this bleak reality: “Right now, there are no plans to cease the defeat-ISIS mission.”

    Rather, the Biden administration feels empowered to expand that mission and lie to the American people about what exactly it is doing in Syria. Such an outcome results from unchecked executive power in the U.S. government and Congressional reluctance to question support for anything labeled as counterterrorism (CT) operations. Worse, the announcement comes as news surfaces that U.S. President Joe Biden experienced “good days and bad days” as early as 2021 concerning his mental acuity – another inconvenient fact hidden from U.S. citizens, raising questions regarding who has actually been steering policy in the White House.

    The inconvenient truth for Biden’s advisors is simple: U.S. forces continue to operate in a country that has not invited them to establish a presence and without any constitutionally mandated Authorization for the Use of Military Force (AUMF) required to make such military operations legal under U.S. law. Only Congress can pass an AUMF – the president cannot unilaterally declare one. Flimsy arguments connecting the Islamic State to Al-Qaeda – arguing that the former grew out of the latter – are another ugly expansion of unchecked executive power aimed at limiting U.S. citizen input on the critical decisions of their elected officials.

    Such a pass must be rejected. For two decades, U.S. officials have worked to expand global military power in a resource-draining deluge of unsustainable overextension. On the same day as Ryder’s announcement, the U.S. Senate passed the National Defense Authorization Act (NDAA) – the primary defense appropriations package – to the tune of $895 billion. As U.S. debt approaches $37 trillion, the government should be more transparent on such issues – not less. Yet rather than taking that approach, the Pentagon failed its seventh straight audit in 2024.

    This unacceptable situation is why expanding the defeat-ISIS mission should be rejected, especially given the facts on the ground. To be sure, while the Islamic State has expanded its operations in Syria in 2024, the number of attacks pales in comparison to the height of the group when ISIS actually held and governed territory. With less than 20 attacks in September, compared to hundreds in April 2022, the Islamic State is no longer a serious threat to U.S. interests—and its reach is extremely limited. It has long been unable to conduct international attacks from either Syria or Iraq.

    Most of its fighters in these two countries remain in prisons operated by local U.S. partners – namely the Syrian Democratic Forces (SDF) in Syria. While some cite the presence of roughly 10,000 fighters in these prisons as an army-in-waiting for the group, the reality is alternative policy options exist for both securing these prisons and limiting the wider supposed threat while ending – not expanding – the defeat-ISIS mission.

    Those options include regional partnerships, not limited to Turkey or the plethora of armed groups operating in Syria today. Given the Islamic State’s inherent weakness, it should not be difficult to establish a sustainable agreement – namely one that ends the U.S. presence in the country by allowing those capable local actors with more of an interest in ending the threat from re-appearing in their communities. An open-ended U.S. presence will not fully resolve this problem, as personified by never-ending CT operations across Africa and Asia with no end in sight.

    Ultimately, the issue of U.S. military overreach is bigger than Syria, even if the country is central to debates on U.S. forces abroad. Officials must recognize that U.S. primacy on the regional and global stage does not come from doing everything, everywhere, all at once. Rather, it is achieved through strategic honesty and military restraint that right-sizes efforts abroad based on necessity as the world is – not how unelected officials wish it to be.

    Misleading the American public cannot remain the U.S. foreign policy norm, which already discounts the will of the average American citizen in a smugness that has long pervaded the space. As announcements like the one on Syria indicate, the time is now to shift away from this unsustainable and anti-democratic approach.

    Tyler Durden
    Sun, 12/29/2024 – 22:10

  • US Expands Cyber Countermeasures As List Of China Telecom Hack Victims Grows
    US Expands Cyber Countermeasures As List Of China Telecom Hack Victims Grows

    Authored by Eva Fu via The Epoch Times (emphasis ours),

    The White House has identified a ninth U.S. telecom network that Chinese state hackers have compromised in a sweeping intrusion, a senior official said on Dec. 27, as authorities take steps to prevent similar cases of cyberespionage and hold the cyberattackers liable for their actions.

    Anne Neuberger, deputy national security adviser for cyber and emerging technology, revealed the new information in a press briefing as officials continue to assess the scope of the cybersecurity breach from China’s state-backed Salt Typhoon hacking group, which has carried out a wide-ranging espionage campaign since 2022.

    Deputy national security adviser for cyber and emerging tech Anne Neuberger (L) speaks as deputy national security adviser for international economics and Deputy Director of the National Economic Council Daleep Singh (R) listens during a White House daily briefing at the James S. Brady Press Briefing Room of the White House in Washington, on Feb. 18, 2022. Alex Wong/Getty Images

    The hacking operation has affected major telecommunications companies and dozens of nations, with Verizon, AT&T, and CenturyLink among the targets. Officials said in early December that these hackers are still embedded in U.S. infrastructure.

    Neuberger said in an earlier conference that the hackers had focused on “very senior” American political figures and stolen vast troves of American data. She said on Friday that they still don’t have a good sense of the total scope of the breach.

    “Our understanding is that a large number of individuals were geolocated in the Washington DC, Virginia area,” she said.

    Only a fraction of them had their communications affected, Neuberger said, as the hackers are more interested in eavesdropping on U.S. government officials.

    “The scale we’re talking about is far larger on the geolocation, probably less than 100 on the actual individuals,” she said.

    As officials scramble to understand the impact of the Chinese cyber intrusion, they also began a multi-agency effort to fortify U.S. infrastructure against such operations.

    Shortly after the briefing, the Justice Department issued a final rule naming China, Cuba, Iran, North Korea, Russia, and Venezuela as countries of concern over their ambitions to exploit sensitive U.S. personal and government-related data by bulk. Under the rule, certain individuals and groups whom authorities deemed as threat actors are barred from transactions involving six types of U.S. data, including certain personal identifiers such as social security numbers or government identification numbers, precise geolocation data, biometric identifiers, human genetic or molecular data, personal health data, and personal financial data.

    Those transactions “pose an unacceptable risk to the national security,” a Justice Department statement said, noting that those adversarial nations could use the data to conduct cyber espionage, malign foreign influence, bolster military capabilities, and “track and build profiles on U.S. persons,” including military and intelligence officers for blackmail, coercion, and espionage. These data could also become tools for these states to spy on its targets, such as dissidents, political opponents, or marginalized communities, to intimidate them and curtail freedoms, the department said.

    The regulation applies to entities over which China has an ownership of 50 percent or more, those that principally conduct business in China or are organized under Chinese law, their contractors and employees, and foreign individuals who primarily reside in China.

    Violators could face a civil fine of up to $368,136 or twice the amount of the transaction involved, whichever is greater. Criminal penalties include up to $1,000,000 in fines and up to 20 years in prison.

    The Department of Health and Human Services on Dec. 27 also proposed a rule to protect the U.S. health care system from cyberattacks.

    The proposed measure would modify the Health Insurance Portability and Accountability Act of 1996, making the first change to the act’s security rule in 11 years, according to a statement. It would mandate stepped-up protection for personal health information by health plans and health care clearinghouses, as well as most health care providers and their business associates.

    The department’s Office for Civil Rights said the number of individuals impacted by large health care breaches soared more than tenfold between 2018 and 2023, and is likely to grow.

    In the wake of the Salt Typhoon hacking campaign, the Cybersecurity and Infrastructure Security Agency has urged “individuals who are in senior government or senior political positions” to “immediately” stop using regular phone calls and text messages. They should only use end-to-end encrypted communications and “assume that all communications between mobile devices—including government and personal devices—and internet services are at risk of interception or manipulation,” the agency warned.

    The hacking group has targeted now-Vice President-elect JD Vance and now-president-elect Donald Trump, as well as Vice President Kamala Harris.

    An engineering student takes part in a hacking challenge near Paris on March 16, 2013. AFP via Getty Images/Thomas Samson

    To deter Chinese hacking attempts, Neuberger said, the first step is to build a “defensible infrastructure.”

    “We wouldn’t leave our homes, our offices unlocked, and yet our critical infrastructure, the private companies owning and operating our critical infrastructure often do not have the basic cybersecurity practices in place,” she said in the press call.

    Authorities are also scrutinizing government contracts to enforce stricter cybersecurity practices, Neuberger said. In doing so, she said, the United States is following in the footsteps of Australia and the UK.

    “The nation’s secrets, the nation’s economy, lies on our telecommunications sector,” she said.

    “When I talked with our UK colleagues and I asked, ‘Do you believe your regulations would have prevented the Salt Typhoon attack?’ their comment to me was, we would have found it faster, we would have contained it faster.”

    Neuberger said it was a “powerful message.”

    In early December, the FBI, the Cybersecurity and Infrastructure Security Agency, and the National Security Agency collectively published a guide instructing telecom companies to mitigate cyber intrusions.

    “Those networks are not as defensible as they need to be to defend against a well resourced, capable offensive cyber actor like China,” Neuberger said.

    In assessing the Salt Typhoon breach, she said, authorities have found one administrator account that had access to more than 100,000 routers.

    “So when the Chinese compromised that account, they gained that kind of broad access across the network,” she said.

    Neuberger said officials are looking to segment the telecom networks so that in the event of a cyber attack, the potential damage could be contained.

    The Federal Communications Commission on Dec. 5 proposed cybersecurity rules requiring communications service providers to certify annually that they have a plan to protect against cyberattacks.

    The rule is waiting for a vote by Jan. 15, Neuberger said, noting that they are eager to see bipartisan support across the commission to see it through.

    The Chinese were “very careful about their techniques. They erased logs,” she said. And as “we will never know regarding the scope and scale of this,” she said, the United States is “looking forward.”

    An appeals court on Tuesday upheld the Federal Communications Commission’s decision to bar China Unicom Americas, the U.S. operation of a top Chinese state wireless carrier, from accessing the U.S. telecom market.

    Neuberger said more actions will be coming out in the next few months.

    “Let’s lock down this infrastructure. And frankly, let’s hold the Chinese accountable for this,” she said.

    Tyler Durden
    Sun, 12/29/2024 – 21:35

  • How Massive Debt, Stiff Competition Dashed Spirit Airlines
    How Massive Debt, Stiff Competition Dashed Spirit Airlines

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

    Spirit Airlines’ financial failure could mean fewer options and higher ticket prices for Americans flying on a tight budget.

    On Nov. 18, the Dania Beach, Florida-based ultra-low-cost carrier famous for its cheap base fares, announced it was seeking Chapter 11 bankruptcy protection.

    Illustration by The Epoch Times, Shutterstock

    Spirit is currently attempting a reorganization in bankruptcy court so it can pay back its creditors and return to business. Ahead of its Chapter 11 filing, the company had already announced a new vision designed to make the airline more like America’s other low-cost carriers.

    Spirit Airlines spokeswoman Nicole Aguiar told The Epoch Times via email that the airline will continue to operate as usual during its restructuring process.

    Still, others in the industry—notably United Airlines Holdings Inc. CEO J. Scott Kirby—say the reorganization process is merely a milestone on the road to Chapter 7 liquidation.

    “I think the current business plan is not going to work,” Kirby told reporters in early December. “Chapter 11 will be a brief pit stop on the way to Chapter 7.”

    Whether the company can keep flying is yet to be determined, but it seems inevitable that Spirit’s ultra-low-cost version will fade into memory. If Spirit disappears completely or abandons its ultra-low-cost business model, its pricing pressure, which forces competing carriers to lower their prices, may disappear forever.

    A Perfect Storm

    Ryan Ewing, a longtime industry observer and the editor of airline trade publication AirlineGeeks, told The Epoch Times that Spirit found itself in a tempest created by competition from other airlines, a rapidly increasing cost of doing business, a massive shift in airline demand that began during the COVID-19 pandemic of 2020, and finally, a failed acquisition by JetBlue Airways Corp.

    Ewing said that Spirit, founded in 1992, was profitable for much of its existence, despite consumer criticism of its business practices. In May, consumer insights firm J.D. Power ranked Spirit as the second-worst economy or basic economy airline in terms of consumer satisfaction. Only its ultra-low-cost rival Frontier Airlines fared worse.

    Joseph Smith, director of aviation services at Miami-based investment banking firm Cassel Salpeter & Co., told The Epoch Times the company was able to make money because it attracted a younger clientele, vacationers looking to travel on a budget, and served routes other airlines may avoid due to a lack of profitability.

    It was successful in its niche.

    Everything changed in 2020 when pandemic panic ground both international and domestic flights to a halt or kept planes nearly empty for months. While demand recovered by 2024, financially, Spirit never has.

    A passenger checks in for a Spirit Airlines flight at Los Angeles International Airport on Nov. 25, 2020. The pandemic kept both domestic and international flights nearly empty for months. Patrick T. Fallon/AFP via Getty Images

    Shortly after Spirit announced it was beginning the process of reorganizing its business to pay back its creditors, the company released a third-quarter earnings report with the Securities and Exchange Commission. That report, published on Nov. 25, said the company’s collective liabilities were almost twice as great as its assets.

    It said Spirit’s assets on Sept. 30 totaled about $1.21 billion. Meanwhile, its liabilities were $2.54 billion. Those liabilities included more than $1.25 billion in “long-term debt, net, and finance leases.”

    The report was released without an earnings call as the company has been delisted from the New York Stock Exchange as part of the bankruptcy process.

    Spirit’s third-quarter report also disclosed that the company recorded a quarterly net loss of $308.2 million and had lost $643.8 million through the first nine months of 2024. In the same nine-month period the year before, the company had lost $263.8 million.

    The report revealed the company had seen its total operating revenue fall to about $3.67 billion in the first nine months of 2024 from about $3.97 billion in the same period of the prior year.

    These were not new problems for Spirit, however. It has not turned an annual profit since 2019. Its annual report from 2023 said the company recorded a net loss of $447.4 million in 2023, $554.1 million in 2022, and $472.5 million in 2021. The 2021 annual report said the company recorded a net loss of $428.7 million in 2020. The 2020 yearly statement indicated it was profitable from 2016 to 2019.

    From an operational standpoint, Ewing said Spirit was saddled with elevated labor, fuel, and airplane maintenance costs driven by inflation, new labor agreements with union employees, and unreliable jet engines. The pain was exacerbated by growing, costly service interruptions caused by cancellations and delays related to air traffic controller shortages near its base of operations in Southern Florida.

    “That business model that Spirit pioneered requires that the structural costs remain lower,” Ewing said.

    James Gellert, the founder and executive chairman of financial analytics firm RapidRatings International Inc., told The Epoch Times that Spirit also became a victim of its own success. The company was so good at undercutting so-called legacy carriers that it inspired companies such as Chicago-based United Airlines Inc. to expand their basic economy offerings.

    Additionally, as a publicly traded company always seeking quarter-to-quarter profits and growth, Spirit started entering into markets where it could not profitably operate, Gellert said.

    A Spirit Airlines Airbus A320 and a United Airlines Airbus A319 arrive at LaGuardia Airport in New York City on Jan. 9, 2024. Spirit’s successful business model inspired other companies including United Airlines. Charly Triballeau/AFP via Getty Images

    Both Gellert and Smith said Spirit was dealt a significant blow when an attempted $3.8 billion acquisition by JetBlue fell through in January.

    The deal called for the Long Island City, New York-based airline to acquire Spirit but was blocked by a federal judge’s decision that was made on antitrust grounds. Originally, Spirit was looking to merge with Frontier, but JetBlue made an unsolicited offer to purchase Spirit during the courtship.

    In his decision, U.S. District Judge William Young said JetBlue’s acquisition would have taken away a critical, ultra-low-cost option for American consumers. In effect, Young’s decision likely sealed Spirit’s fate.

    Turnaround or Shut Down?

    In its second-quarter earnings release published on Aug. 1, Spirit president and CEO Ted Christie acknowledged the company’s struggle to generate income. The company said Spirit was launching a turnaround plan focused on “low-fare travel with new, high-value travel options that will allow guests to choose an elevated experience at an affordable price.”

    Read the rest here…

    Tyler Durden
    Sun, 12/29/2024 – 21:00

  • No Easy Fix For The Housing Problem
    No Easy Fix For The Housing Problem

    Authored by Jeffrey Tucker via The Epoch Times,

    After World War II, a major priority for U.S. policymakers was to push home ownership for as broad a swath of the population as possible. In many ways, the agenda was a success. Happy families living in fine homes all over the United States, one income from a stable job, and two cars became the mark of prosperity, and a point of advertising for the American experiment the world over.

    Every TV show featured exactly this.

    Two decades into the 21st century, that dream is broken, as most people cannot even think about home ownership even with two incomes. The latest trends show skyrocketing prices and, unlike 2008, this seems less like a bubble than pure inflation with little hope of falling prices. Existing owners, of course, do not want price declines in any case.

    Already, the taxes and costs of insurance have grown equal to the mortgage payment itself, which means that in terms of overall expenditure, the sticker price might be only a quarter of what you will spend over 30 years, according to The Wall Street Journal.

    Many people look at this situation and wonder what the point is. There are ways to use whatever liquid assets you have to earn money rather than spend it this way.

    In the past few months, I’ve heard many suggestions for fixing this problem. None of them is promising.

    Some make matters worse.

    First, people suggest more Federal Reserve interventions. Keep in mind, however, that the Fed can control only one rate—that which is charged to member banks. That rate will influence others down the line within the yield curve structure. The influence is not always predictable. In fact, it can sometimes result in a steeper curve, presenting a bitter problem: lower short-term rates combined with higher rates. This result reflects expectations of the future.

    This is precisely what is happening right now. The Fed keeps lowering the federal funds rate even as mortgage rates increase.

    (Data: Federal Reserve Economic Data (FRED), St. Louis Fed; Chart: Jeffrey A. Tucker)

    The other problem is that lower rates feed inflation and thus threaten to increase housing prices, insurance costs, and therefore also property taxes. Therefore, Fed intervention will not fix any existing problem and contributes to making the situation worse rather than better.

    Second, people are suggesting restrictions on institutions buying with cash offers. This is designed to address what intuitively strikes everyone as unfair and unjust. You are negotiating on a house, lining up your borrowing, selling assets for a down payment, and out of nowhere some cash buyer comes along and snatches it away.

    No question that this is happening, with the largest financial firms buying the asset that they believe to be the most lucrative on the market right now, which is housing. But how in the world would one restrict such purchases? Owners want to sell to the best buyer regardless. It seems strange to intervene in property rights in ways that would make that impossible.

    It’s also not clear how that would affect home prices. Whether a home is purchased with cash or borrowed money does not affect housing prices overall. Such interventions would likely create unanticipated problems. For example, it would certainly reduce the number of rental units available and thus make the housing problem worse, not better.

    Third, people are suggesting that the federal government make special mortgage rates available for borrowers of a certain sort, perhaps families with children or teachers or some other class. I’ve heard numbers such as 3 percent being thrown around. This is not a good idea. It would end up subsidizing the most risky borrowers and recreate the very conditions that led to the housing crisis of 2008. It would also increase demand for housing and apply upward rather than downward pressure on prices.

    The same can be said of the idea of granting tax write-offs or outright subsidies for down payments. That would worsen the deficit and only drive up prices to the point of the subsidy itself.

    Fourth, we hear talk of dramatically increasing the supply of housing in underdeveloped areas. Trump administration teams have floated the idea of freedom cities, for example, with huge development subsidies. Again, this amounts to yet another public expenditure that adds to the fiscal problem and does not address the real problem, which is that people want housing close to their places of work. It achieves nothing to build huge developments in places without enterprise infrastructure, as China has learned over several decades of boondoggles.

    Fifth, people suggest public housing and outright price control, both truly terrible options. In the 1930s, there was a great deal of optimism about the idea of government-provided housing for everyone, but those dreams died by the 1970s. Government can neither build nor manage housing, and even existing units reveal the problem. Every major city has a blighted area filled with public housing that everyone despises. No one wants more of that in their area.

    If none of these solutions is right, what can be done?

    We need to fix the problem of inflation above all else, because that is what is driving insurance costs so high. Insurance is a pricing of risk, and the rising prices in every area of repair, including labor costs, has made it unaffordable in many locations. In fact, this is a major reason why cash purchases are so popular: You don’t have to pay for broad insurance coverage. Fixing inflation will require restraint on money printing. Nothing else gets to the heart of the problem.

    Property taxes should be reduced or abolished, but that is a matter for states and localities, not the federal government. And many cities and states are faced with impossible fiscal cages: Lowering property taxes means less revenue for schooling and crime control, the result of which is to drive residents out rather than attract them. There is no easy solution to this, though state-level vouchers for private forms of schooling are promising. But there again, we have a solution that is several stages removed from the problem we are trying to address.

    Regulations on development at the federal level have become a terrible cost that has inhibited building and expansion of the housing stock. These days, it is nearly impossible even for an individual to build without fitting the new home to green-energy-compliant standards, for example. All of this needs to go. If it were my choice, I would completely defund the Department of Housing and Urban Development. It has been a very long menace and serves no other function than to feed tax dollars to large developers—a classic example of a captured agency.

    All of these solutions can help, but there is no magic answer to restoring the 1950s-era dream of universal housing ownership. It’s not even clear that it makes much sense anymore, as most young people prefer the flexibility of renting. They can find better uses for liquid funds than tying them up in property that carries huge liabilities in taxes, interest, and insurance.

    Meanwhile, focusing reform efforts on regulatory costs, inflation, and schooling options could end up doing more to repair the housing problem than any direct interventions in the market as it currently functions.

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Sun, 12/29/2024 – 20:25

  • Cold Weather Deaths Double In US, Minorities & Elderly Most At Risk
    Cold Weather Deaths Double In US, Minorities & Elderly Most At Risk

    Authored by George Citroner via The Epoch Times,

    Americans are dying from cold weather at more than twice the rate they did two decades ago.

    A total of 40,079 deaths were recorded from 1999 to 2022, with cold temperatures as either an underlying or contributing cause of death, according to a research letter published Dec. 19 in JAMA Network.

    The authors of the letter, affiliated with Boston’s Beth Israel Deaconess Medical Center, Harvard Medical School, and Brigham and Women’s Hospital, used data from the U.S. Centers for Disease Control and Prevention to analyze death certificates.

    The letter highlights a long-term trend of increase in the rate of cold-related deaths, more than doubling from 0.44 per 100,000 people in 1999 to 0.92 per 100,000 people in 2022.

    Cold-related deaths were highest among U.S. adults aged 75 years and older. Older people are more susceptible to cold weather due to their limited ability to regulate their body temperature and a greater prevalence of chronic health conditions.

    While the elderly experience the most deaths overall, the middle-aged group is seeing the fastest rate of increase in cold-related fatalities. Men were more likely to die from cold-related causes than women.

    These findings are “striking” because these deaths are preventable, Michael Liu, a doctor of medicine student at Harvard Medical School and the study’s first author, told The Epoch Times.

    Reasons for the Increase

    Data from the research letter also indicated that while American Indian, Alaska Native, and black people were more likely to die from cold-related deaths each year than any other racial or ethnic groups, Hispanic and white populations saw the most significant increases in the annual mortality rate attributed to cold weather.

    “There is also increasing evidence that social risk factors that predispose to cold-related deaths are rising in the U.S., including higher rates of social isolation and unsheltered homelessness,” Liu added.

    Liu noted that although he and his team cannot accurately predict trends going forward, “it is possible that deaths due to cold may increase over time.”

    “There is evidence that climate change has been associated with more extreme winter weather events,” he said.

    Another factor that may contribute to increasing deaths from cold in the United States over time is the aging population.

    “This population has a more limited thermoregulation capacity and a greater burden of underlying health conditions,” Liu said.

    Structural risk factors like not having sufficient home insulation or heating may also be contributing to cold-related deaths.

    American Indian, Alaska Native, and black populations, are particularly at risk due to living in homes with inadequate home insulation or heating. According to the U.S. Department of Energy, from July 2021 to May 2023, 36.4 percent of households facing energy insecurity were black.

    Additionally, the U.S. Environmental Protection Agency reports that winter months have seen death rates 8 to 12 percent higher than those in non-winter months across the United States for several years.

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Sun, 12/29/2024 – 19:50

  • So Much For 'Liberated Syria'…Jolani Says It Will Take Four Years To Hold Elections
    So Much For ‘Liberated Syria’…Jolani Says It Will Take Four Years To Hold Elections

    Western mainstream has been celebrating the overthrow of Assad at the hands of the jihadist group Hayat Tahrir al-Sham (HTS) and its leader Abu Mohammad al-Julani (who has reverted to his given name of Ahmed al-Sharaa).

    Mainstream media has also been busy reporting every statement of his supposed ‘moderate’ and reform agenda. Generally these reports haven’t been critical of his words, or cared to delve into the long history of killings, kidnappings, and human rights abuses of HTS (previously known as Nusrah Front, or al-Qaeda in Syria). 

    But Jolani has given a fresh interview interview with Al-Arabiya on Sunday in which he made clear that he doesn’t expect elections to be held for up to four years. He also stated that writing a constitution for the new Syria will take three years.

    Every one of his appointed transitional government ministers is from the al-Qaeda linked organization, some of them designated terrorists. For example, we reported previously:

    On Thursday, Syria’s de facto authorities appointed former Al-Qaeda commander and Nusra Front co-founder Anas Hassan Khattab as the head of the country’s general intelligence agency.

    Khattab, also known as Abu Ahmed Hudood, was blacklisted as a “terrorist” by the UN Security Council in September 2014 for his close association with Al-Qaeda.

    “Organizing elections may take four years; any valid elections will require a comprehensive population census,” Jolani told the Saudi-based outlet.

    He claimed that this lengthy delay and preparations would happen as “preparatory to a longer interim government.” In essence he’s admitting that despite some hailing the dramatic events of this month as a “revolution” which brought “freedom” to Syria, the reality is that he as an unappointed ruler will control the country for many years to come.

    Still, he’s running a PR campaign, trying to attract Western support and investment – and the dropping of US sanctions – and so his key line has been that all Syrians will have a home in the future Syria. But Alawites, Christians, and Druze are reporting attacks and vandalism against their religious sites by unchecked foreign jihadists and intimidation by HTS members. 

    “The Idlib experience is not suitable for all of Syria, but it is a nucleus,” Jolani said when the interviewer asked about Idlib being governed by strict Sharia law.

    “I am proud of everything Saudi Arabia has done for Syria, and Saudi Arabia has major investment opportunities in Syria,” Jolani also said about his relations with Saudi Arabia.

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    “Liberating Syria guarantees the security of the region and the Gulf for the next 50 years,” he added. It shouldn’t be forgotten that Saudi Arabia and Qatar heavily weaponized and funded the radical Islamic insurgency against Assad and the Syrian people over much of the last decade, also with deep CIA involvement.

    …So much for the revolution of ‘freedom’.

    Tyler Durden
    Sun, 12/29/2024 – 18:40

  • Yellen Says US Will Hit Debt Ceiling Mid-January, Forcing Treasury To Employ 'Extraordinary Measures'
    Yellen Says US Will Hit Debt Ceiling Mid-January, Forcing Treasury To Employ ‘Extraordinary Measures’

    Authored by Tom Ozimek via The Epoch Times,

    Treasury Secretary Janet Yellen has warned that the United States will hit its statutory debt ceiling around the middle of January, a development she said will prompt the Treasury to resort to “extraordinary measures” to prevent the government from defaulting on its obligations.

    Yellen outlined the looming fiscal challenge in a Dec. 27 letter to congressional leaders, urging them to act to protect the nation’s economic credibility and preserve fiscal stability.

    She noted that the Fiscal Responsibility Act of 2023 temporarily suspended the debt ceiling through Jan. 1, 2025, enabling lawmakers to avert default during contentious budget negotiations. A day after that deadline—on Jan. 2—a new debt limit will be set based on the total amount of outstanding debt subject to the statutory limit as of the end of Jan. 1. Yellen noted that the debt is projected to temporarily decrease by $54 billion on that date due to scheduled Medicare trust fund redemptions, providing a brief reprieve before extraordinary measures become necessary.

    “Treasury currently expects to reach the new limit between January 14 and January 23, at which time it will be necessary for Treasury to start taking extraordinary measures.” Yellen wrote.

    Extraordinary measures, often described as accounting maneuvers, allow the Treasury to free up cash and delay default. These measures, however, are a short-term solution. Once exhausted, they leave the government unable to meet its financial obligations without congressional intervention. Yellen emphasized the urgency of action, warning that a failure to address the debt ceiling would severely damage the nation’s economic credibility.

    “I respectfully urge Congress to act to protect the full faith and credit of the United States,” she wrote.

    Yellen’s warning comes as the national debt has climbed to a staggering $36 trillion, driven by decades of government spending outpacing tax revenue under both Republican and Democratic administrations. High inflation that soared after the pandemic led the Federal Reserve to hike interest rates, increasing borrowing costs and debt service payments.

    The Committee for a Responsible Federal Budget (CRFB) recently noted that interest payments on America’s public debt have nearly tripled since 2020 and in 2024 were higher than spending on Medicare and national defense. The nonprofit estimated that interest payments will continue climbing over the next decade and beyond, exceeding Social Security spending by 2051 to become the top expense.

    “The alarm bells are clearly ringing when it comes to our unsustainable national debt,” CRFB analysts wrote in the note. “Policymakers should put in place reforms that reduce the growth of debt and stabilize it as a share of the economy before interest and debt spiral further out of control.”

    President-elect Donald Trump has proposed eliminating the debt ceiling altogether, or at least extending it through 2029, a move that would give his incoming administration more breathing room by avoiding repeated debt cap standoffs on Capitol Hill.

    Congress first established a debt limit of $45 billion in 1939 and has since raised it 103 times as government spending has consistently exceeded tax revenue. As of October 2024, publicly held debt hit 98 percent of the U.S. gross domestic product, according to the Congressional Budget Office (CBO), a sharp increase from 32 percent in October 2001. CBO projects that public debt will rise to 122 percent of gross domestic product in 2034.

    Maya MacGuineas, president of CRFB, warned in a recent statement that the risks of rising debt include slower economic growth, higher inflation, and constrained fiscal flexibility that would hamper the government’s ability to respond to economic downturns or global crises.

    Tyler Durden
    Sun, 12/29/2024 – 18:05

  • Your Brain Flushes Out Waste Every Night… Here's How To Help It Clean Up
    Your Brain Flushes Out Waste Every Night… Here’s How To Help It Clean Up

    Authored by Flora Zhao via The Epoch Times (emphasis ours),

    As we fall asleep, the brain begins clearing out waste.

    It operates like a late-night laundry service, with all the water valves opened and washing machines running at full capacity to remove dirt from piles of clothes, flushing the wastewater into the drain.

    Illustration by The Epoch Times, Shutterstock

    The brain continuously produces various wastes, and if these are not cleared in time, we feel it. The signs can range from feeling foggy and fatigued to experiencing cognitive impairment.

    Fortunately, efforts can be made to optimize waste clearance during the night.

    Flush the Waste

    The human brain is one of the most metabolically active organs, accounting for about 20 percent of the body’s total energy expenditure. This high level of activity generates significant waste. Smaller byproducts, such as carbon dioxide, urea, and ammonia, diffuse into capillaries and are cleared through the bloodstream. Larger neurotoxic proteins—including beta-amyloid and tau, both widely associated with an increased risk of Alzheimer’s disease, cannot be eliminated through the bloodstream alone due to their size.

    In the past, it was believed that the brain lacked a lymphatic system to remove waste and relied solely on internal mechanisms for clearance.

    However, in 2012, researchers discovered a specialized mechanism within the brain, analogous to the lymphatic system and capable of flushing out larger waste products from deep within the brain. This system was named the glymphatic system, a portmanteau of “glial” (referring to glial cells) and “lymphatic.” It is also known as the pseudo-lymphatic system.

    How the brain removes waste through the glymphatic system. Illustration by The Epoch Times

    Surrounding the arteries in the brain is a sheath-like structure, with cerebrospinal fluid flowing through the space between the artery and this sheath. During sleep, the brain’s blood vessels constrict, increasing the space between the vessels and the sheath, which allows more cerebrospinal fluid to flow in. As the arteries pulse, the cerebrospinal fluid is pumped through brain tissue, flushing out waste—such as beta-amyloid and tau proteins—from the deeper spaces between brain cells, eventually clearing it from the brain.

    Deep Sleep

    “Waste-removing processes in the brain barely operate during wakefulness. It is very much a process that occurs in our deep-sleep stages,” Moira Junge, who holds a doctorate in health psychology and is the CEO of the Sleep Health Foundation in Australia and an adjunct clinical associate professor at Monash University, told The Epoch Times.

    Sleep is divided into two states: rapid eye movement (REM) sleep and nonrapid eye movement (NREM) sleep. NREM makes up 75 percent of total sleep time and is further divided into three stages, N1, N2, and N3—each reflecting progressively deeper levels of sleep.

    During N3, brainwaves are at their slowest.

    “It’s such a deep sleep that you’re not easily disturbed by the external environment; for example, you don’t hear the dog barking outside nor hear your partner come to bed,” Junge said.

    During sleep, the body moves through the stages sequentially, forming a complete sleep cycle lasting around 90 minutes. Throughout the night, a person typically experiences four to five sleep cycles.

    The stages of sleep. Illustration by The Epoch Times

    The glymphatic system becomes more active during sleep, especially during deep sleep, allowing for more effective waste clearance, said psychiatrist Dr. Jingduan Yang, founder of the Yang Institute of Integrative Medicine in Pennsylvania.

    In a mouse study published in Science, researchers used tracers to monitor changes in cerebrospinal fluid flow. They found that during sleep, the interstitial, or intervening, space expanded by more than 60 percent, and the tracer influx increased. The brain’s clearance rate of beta-amyloid doubled during sleep (or under anesthesia) compared to the awake state.

    Accumulated Beta-Amyloid

    Unfortunately, Americans today are sleeping less than ever.

    In 2023, 42 percent of Americans perceive that they get enough sleep, according to Gallup’s December 2023 poll. One in five people sleep fewer than five hours a night—compared to just 3 percent in 1942.

    Shorter sleep duration can also be attributed to people going to bed increasingly later. One study found that delaying bedtime by just one hour reduces total sleep by 14 to 33 minutes each night.

    In addition to going to bed later and sleeping less, we are also not sleeping well. According to the American Psychiatric Association, more than 50 million people in the United States suffer from chronic sleep disorders like insomnia and sleep apnea.

    These issues directly reduce and disrupt deep sleep, shortening the critical window during which the glymphatic system works at peak efficiency. This, in turn, leads to greater waste accumulation in the brain.

    People reporting less adequate sleep and more sleep problems had greater amyloid burden in Alzheimer’s disease-sensitive brain regions.

    A 2021 human study found that even a single night of sleep deprivation can impair the brain’s ability to clear waste.

    An earlier clinical trial showed that despite the expected relatively sizeable interindividual variation in levels of a type of amyloid-beta, the average beta-amyloid accumulation from three morning samples of unrestricted sleep was 6 percent lower than that of three evening samples.

    In comparison, participants who stayed awake for 24 hours exhibited amyloid-beta levels up to 75.8 picograms per milliliter higher. This demonstrated that unrestricted sleep reduced amyloid-beta proteins but that sleep deprivation counteracted this effect. Furthermore, the longer the sleep duration—provided it was not excessive—the greater the reduction in beta-amyloid biomarkers.

    Read the rest here…

    Need help sleeping? Click here…

    Melatonin, Magnesium, Tryptophan, GABA, 5-HTP, Ashwagandha and more

    Tyler Durden
    Sun, 12/29/2024 – 17:30

  • Musk Appears To Soften Pro-Foreign Worker, H-1B Visa Stance Amid Online Spat
    Musk Appears To Soften Pro-Foreign Worker, H-1B Visa Stance Amid Online Spat

    Authored by Jack Phillips via The Epoch Times,

    Tesla billionaire and X owner Elon Musk appeared to soften his stance on H-1B visas on Saturday night after saying he’d “go to war” for the visas, amid an ongoing online spat over immigration and the tech industry.

    Tensions erupted between wealthy members of the tech world, including Musk and fellow entrepreneur Vivek Ramaswamy and their call for what they describe as highly skilled workers in their industry by using H-1B visas, and Trump supporters who have long championed more stringent immigration policies to give priority to American workers.

    On Saturday night, Musk responded to a mega-thread on social media platform X that criticized how H-1B visas are being used.

    “Easily fixed by raising the minimum salary significantly and adding a yearly cost for maintaining the H-1B, making it materially more expensive to hire from overseas than domestically,” he wrote.

    “I’ve been very clear that the program is broken and needs major reform.”

    Musk was responding to a remark from investor Robert Sterling, who said that:

    “America needs to be a destination for the world’s most elite talent. But the H-1B program isn’t the way to do that.”

    The H-1B visa program allows up to 65,000 highly skilled foreign workers annually, plus 20,000 foreigners who obtained an advanced degree from a U.S. institution, to fill specialized roles in the U.S. workforce.

    Separately, Musk has been accused of censorship from conservatives after multiple prominent accounts that criticized his views on immigration and H-1B visas lost access to premium features.

    Laura Loomer, a conservative activist and independent journalist who has long backed President-elect Donald Trump, wrote on X in multiple posts over the weekend that the social platform demonetized her account of more than 1.4 million followers. Her account appears to now lack a verified blue check mark.

    Loomer said that it was because she posted comments that were critical of Musk and his allies’ views on immigration as well as H-1B visas.

    “Why are X users who pay for @premium having their posts listed as ‘probable spam’ on my posts @elonmusk?” she wrote late on Saturday. “This is censorship. I understand you don’t like me, but this is nothing but retaliatory censorship?”

    Last Tuesday, Loomer criticized tech billionaires for descending “upon Palm Beach” as Trump works on his transition team at Mar-a-Lago. Two days later, Musk responded by saying: “Loomer is trolling for attention. Ignore.”

    Later that week, she said that her account lost access to premium features.

    Others who also said their accounts lost premium access include InfoWars host and Jan. 6 defendant Owen Shroyer, New York Young Republican Club president Gavin Wax, and the ConservativePAC, which all have hundreds of thousands of followers apiece.

    “My verification badge is now under review. Weird! Didn’t change anything,” wrote Wax, who also spoke out against H-1B visas. As of Sunday, however, Wax appears to have had his verification badge restored.

    “All of our influencers have now lost verification status, as well as our own page,” the Trump-supporting ConservativePAC wrote. “Our brand did nothing. We spoke out against HB1 visas and it appears that @elonmusk intentionally shut us down? Is this the new status quo from America’s ‘most free’ social media platform?”

    So far, Musk has not publicly responded to the recent accusations of censorship on X. The Epoch Times contacted the platform for comment but received no response as of Sunday.

    Musk and Ramaswamy, who were tapped to head the Trump-backed Department of Government Efficiency (DOGE), engaged in X infighting over whether immigrants who come to work at U.S. tech companies on H-1B visas or Americans would be better tech workers. Ramaswamy, in particular, drew ire for a lengthy post the day after Christmas that appeared to criticize a caricature of American culture.

    “A culture that celebrates the prom queen over the math olympiad champ, or the jock over the valedictorian, will not produce the best engineers,” Ramaswamy wrote. “A culture that venerates Cory from ‘Boy Meets World,’ or Zach & Slater over Screech in ‘Saved by the Bell,’ or ‘Stefan’ over Steve Urkel in ‘Family Matters,’ will not produce the best engineers.”

    Musk appeared to echo his sentiments, writing in a post that the “number of people who are super talented engineers AND super motivated in the USA is far too low.” A number of pro-Trump accounts took umbrage with Musk’s and Ramaswamy’s comments.

    On Saturday, meanwhile, Trump weighed in on the controversy and appeared to back Musk and Ramaswamy, telling the New York Post that he supports the H-1B program.

    “I have many H-1B visas on my properties. I’ve been a believer in H-1B. I have used it many times. It’s a great program,” said Trump, although the president-elect had restricted access to such visas during his first term in office.

    Tyler Durden
    Sun, 12/29/2024 – 16:20

  • Jimmy Carter, 39th US President, Dead At 100
    Jimmy Carter, 39th US President, Dead At 100

    The Washington Post reports that the 39th US president, Jimmy Carter, passed away on Sunday at his home in Plains, Georgia.

    James E. Carter III, the son of the former president, confirmed that his father passed away earlier today at the age of 100.

    He was the oldest living US president in history. Although his son confirmed the death, he did not provide an immediate cause. 

    Here’s more from WaPo:

    In a statement in February 2023, the Carter Center said the former president, after a series of hospital stays, would stop further medical treatment and spend his remaining time at home under hospice care. He had been treated in recent years for an aggressive form of melanoma skin cancer, with tumors that spread to his liver and brain.

    He was predeceased by his wife, Rosalynn Carter, who died in November 2023 at 96. He is survived by his four children, 11 grandchildren, and 14 great-grandchildren.

    Carter entered politics in the 1960s as a Democrat at the state level. By the 1970s, he had been elected governor of Georgia. He served as US president for one term, from 1977 to 1981.

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    WaPo noted, “When Mr. Carter left Washington in January 1981, he was widely regarded as a mediocre president, if not an outright failure,” adding, “The list of what had gone wrong during his presidency, not all of it his fault, was long. It was a time of economic distress, with a stagnant economy and stubbornly high unemployment and inflation.”

    Correct. 

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    Carter became the oldest living US president following the death of George H. W. Bush in late 2018 at the age of 94. In recent years, he maintained a low profile due to the Covid pandemic and had been in hospice care for over a year.

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    The non-profit ‘Carter Center’ also confirmed the passing of the former president:

    Jimmy Carter, 39th president of the United States and winner of the 2002 Nobel Peace Prize, died peacefully Sunday, Dec. 29, at his home in Plains, Georgia, surrounded by his family. He was 100, the longest-lived president in U.S. history.

    President Carter is survived by his children — Jack, Chip, Jeff, and Amy; 11 grandchildren; and 14 great-grandchildren. He was preceded in death by his beloved wife, Rosalynn, and one grandchild.

    “My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love,” said Chip Carter, the former president’s son. “My brothers, sister, and I shared him with the rest of the world through these common beliefs. The world is our family because of the way he brought people together, and we thank you for honoring his memory by continuing to live these shared beliefs.”

    There will be public observances in Atlanta and Washington, D.C., followed by a private interment in Plains, Georgia. The final arrangements for President Carter’s state funeral, including all public events and motorcade routes, are still pending.

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    *Developing… 

    Tyler Durden
    Sun, 12/29/2024 – 16:17

  • A Decade Of McFlation
    A Decade Of McFlation

    Fast food joints used to be the go-to choice for convenient, budget-friendly meals, but over the years, they’ve becoming increasingly tough on the wallet.

    One major franchise that has seen substantial price hikes over the past decade is none other than the Golden Arches. This visualization, via Visual Capitalist’s Kayla Zhu, shows the price increase of 10 McDonald’s menu items from 2014 to 2024.

    The data comes from Finance Buzz and was accessed in May 2024.

    FinanceBuzz analyzed menu prices from 2014, 2019, and 2024 for 10 items available consistently across those years, sourcing data from menu price websites, restaurant official sites, and archived records via the Wayback Machine. Additional adjustments were made to account for franchise pricing variations.

    McRaising the Prices

    Below, we show the price increases of 10 different McDonald’s menu items according to Finance Buzz.

    McDonalds is by far the industry leader in fast food, and they’ve also led the way in terms of menu price increases this past decade, according to Finance Buzz.

    Among the restaurants Finance Buzz measured inflation for, McDonald’s was the top of the list with a 100% average price increase across 10 different menu items since 2014.

    Four of their menu items have more than doubled in price since 2014, including their McDouble burger, medium fries, and Quarter Pounder with Cheese meal, which used to cost $5.39 and will now run customers back almost $12.

    The McChicken sandwich saw the greatest price increase, almost tripling in price from $1.00 in 2014 to $2.99 in 2024.

    To learn more about fast food inflation over the years, check out this graphic that shows the average price increase of 10 menu items of 10 American fast food chains.

    Tyler Durden
    Sun, 12/29/2024 – 15:45

  • Ukraine Receives First Ever Natural Gas Shipment From US As It Cuts Energy Ties With Russia
    Ukraine Receives First Ever Natural Gas Shipment From US As It Cuts Energy Ties With Russia

    Authored by Tom Ozimek via The Epoch Times,

    Ukraine has received its first-ever shipment of liquefied natural gas (LNG) from the United States, marking a pivotal step in Ukraine’s efforts to cut energy supply ties with Russia amid dismal relations between the two warring neighbors.

    The LNG shipment—around 45,000 tons—was delivered to Ukraine via a Greek terminal in the Mediterranean on Dec. 27, according to DTEK, Ukraine’s largest private energy firm. While the United States supplies roughly 40 percent of Europe’s LNG imports, this is the first direct purchase of U.S.-sourced LNG by Ukraine.

    While European countries have been reducing their reliance on gas imports from Russia since its invasion of Ukraine in 2022, LNG transiting Ukrainian territory still accounts for roughly 5 percent of the European Union’s (EU) imports.

    “The arrival of this LNG cargo is a clear signal of DTEK’s determination to play its part in strengthening Ukraine and Europe’s energy security,“ DTEK CEO Maxim Timchenko said in a statement.

    ”Cargoes like this are not only providing the region with a flexible and secure source of power, but are further eroding Russia’s influence over our energy system. We are very grateful to the United States for the strategic contribution it is making to Europe’s energy security with such shipments.”

    In a few days, a five-year deal for Russian gas flows to Europe, which transit through Ukraine, is set to expire on Dec. 31. Russian President Vladimir Putin said in a televised briefing on Dec. 26 that time has run out for a new gas transit deal with Ukraine, which brings LNG to Slovakia, the Czech Republic, and Austria.

    “They announced that they would not renew the contract,” Putin said, saying that Ukraine was punishing Europe by its refusal to extend the transit agreement.

    “There is no contract and it is impossible to conclude it in 3-4 days,” Putin said, adding that Russia was prepared to supply gas to Europe via Poland through the Yamal-Europe pipeline.

    Ukraine’s Prime Minister Denys Shmyhal said in mid-December that Kyiv was prepared to devise an agreement to transit gas through its territory to Europe, and he ruled out extending any existing deal with Russia.

    Friday’s shipment is the first of a number of expected LNG deliveries from the United States to Ukraine, according to DTEK, which in June signed a deal with U.S. energy group Venture Global for gas shipments through the end of 2026 from Venture Global’s Plaquemines facility. Additionally, DTEK will be buying up to 2 million tonnes per year of LNG from Venture Global’s CP2 facility over the next 20 years.

    “With this landmark agreement, we will help bolster Ukraine’s security of natural gas supply, aid continued recovery and economic growth in the region, and further strengthen European energy security,” Mike Sabel, CEO of Venture Global, said in a statement.

    Friday’s first-ever shipment of U.S.-sourced LNG to Ukraine followed President-elect Donald Trump’s recent threat to impose tariffs on EU countries if they don’t buy more oil and gas from the United States.

    Trump’s tariff threat targeted the EU–U.S. trade deficit in favor of Europe, which in 2023 amounted to around $57 billion.

    Tyler Durden
    Sun, 12/29/2024 – 15:10

  • New Israeli Airstrikes Near Damascus Kill 11: War Monitor
    New Israeli Airstrikes Near Damascus Kill 11: War Monitor

    The government in Damascus has changed, but Israel’s relentless aerial assaults on Syria have not. A Sunday Israeli strike targeted an old army weapons depot northeast of the capital.

    “An Israeli airstrike in the outskirts of Damascus on Sunday killed 11 people, according to a war monitor, as Israel continues to target Syrian weapons and military infrastructure even after the ouster of former President Bashar Assad,” reports The Associated Press.

    Via Mehr News Agency

    The depot which was struck has been described as belonging to “Assad’s forces” in the industrial town of Adra. But Israel has been known to launch massive strikes in heavily populated areas, resulting typically in significant civilian casualties.

    In the days and weeks after the December 8 takeover of the country by anti-Assad jihadist group Hayat Tahrir al-Sham (HTS), Israel has conducted hundreds of attacks seeking to degrade and destroy the national stockpile of weapons and advanced anti-air defenses.

    Syria under the Assad government was known as having the most advanced air defense missile system in the region, having long been supplied by Russia.

    Israel has used the opportunity of Assad’s ouster to permanently decimate Syria’s sophisticated weapons systems, including large-scale bombings of chemical weapons research centers, the main locations which are on the outskirts of Damascus.

    This is also to prevent the return of Iranian forces to the country, and perhaps to ensure that whatever government rules Syria years from now can have no access to ‘Weapons of Mass Destruction’.

    At this point, Israeli tanks are a mere 20 miles from Damascus, and the Israeli military has seized Syrian land which extends out from the Golan Heights.

    Adra saw heavy fighting throughout many years of the war in Syria, and at one point was occupied by al-Qaeda…

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    Israel also plans to indefinitely occupy the Syrian side of Mt. Hermon which is the highest mountain in the region and a strategic geographic height. Its leadership has claimed this is necessary to establish a security buffer zone.

    Tyler Durden
    Sun, 12/29/2024 – 14:35

  • "The Bond Markets Are Revolting" – Ed Dowd Exposes Biden Admin's "Incompetence… Or Fraud"
    “The Bond Markets Are Revolting” – Ed Dowd Exposes Biden Admin’s “Incompetence… Or Fraud”

    Via Greg Hunter’s USAWatchdog.com,

    Former Wall Street money manager and financial analyst Ed Dowd of phinancetechnologies.com is back with more data on how the Biden Administration propped up a failing economy during the 2024 election year. 

    Dowd contends “crisis level spending” was being administered, along with some bigtime “fraud.” 

    Dowd says, “We had 10% deficit to GDP during the Great Financial Crisis (2008 – 2009) when we actually had a crisis.  We had 8% deficit to GDP during this election year.  You have to ask yourself, what was the crisis?” 

    “The crisis was to get the Biden Administration (and Kamala) re-elected.  So, they went on binge spending.  They borrowed from the future to try to ensure they won.  

    They did it two ways:  They hired massive amounts of government personnel to float the economy, and they also did illegal immigration. 

    We are thinking it was 10 million to 15 million illegal immigrants that came in the last four years.  The majority of the illegal immigrants came in the last two years.  That stimulated the economy and raised the velocity of money as those people were given money. 

    All the NGO’s that facilitated the illegal immigration also got money, and that stimulated the economy.  This deficit added $2 trillion, and that was unproductive assets.  So, we borrowed from the future to create more government jobs and imported unprecedented amounts of illegal immigrants that don’t add to the economy. 

    That’s what we have, and President Trump’s policies are going to reverse all that sugar juice.  There are going to be mass deportations and reduced government spending. 

    That short term juice is going away, and it was not sustainable anyway.  The bond markets are revolting, and that could not have gone on much longer.”

    But it was not just massive money printing and debt creation that hid how bad the real economy was, it was very crooked data.  Dowd says,

    “We also had bureaucratic incompetence or fraud or whatever you want to call it.  They were padding the non-farm payroll numbers to the tune of 1.25 million jobs…

    If you look at the chart, which we don’t have here, it’s insane. 

    It’s one of the biggest misses between reality and estimates we have ever seen. 

    It’s a seven-sigma event.  It’s 1.25 million jobs.  It’s already started downward revisions…

    The 3rd quarter GDP of 3% will be revised down, and when we get . . . the data in February, there will be more GDP economic revisions down. . . . The capital markets made bad decisions on this data.  The Fed made bad decisions on this data, and corporations made bad decisions on this data.  The price tag is coming due in 2025.  Not only that, but we have a slowing economy across the globe…

    The amount of foreign assets in our stock market has never been higher, and this is all going to reverse.  The price will be paid in 2025. . . .What’s coming is coming.  It’s how low do we go, and when do the animal spirits kick in?  So, there is pain coming, and it’s up to the Trump Administration to get all their policies enacted.  Then we have a hope and a prayer coming out the other side that we will be way better off. 

    The bottom line is there is pain coming regardless.  The question is how fast can we restart with Trump’s policies?”

    Dowd likes gold as part of a portfolio, and he is suggesting people get some cash in hand. 

    Dowd says the war in Syria is going to intensify, and you will be hearing much more negative news from that area in 2025. 

    Dowd, who wrote the popular book “Cause Unknown: The Epidemic of Sudden Deaths in 2021, 2022 and 2023,” says the epidemic caused by the CV19 injections will be with us for the rest of our lives. 

    Dowd released new data that added 800,000 people to the 4 million disabled we already had since the CV19 mRNA vax began.  Dowd says,

    “The other thing that is going on is the increase in cancers.  Science is following up . . . There is cancer causing agents in the mRNA vaccines, and we are seeing cancers on the rise. . . . There are new (medical insurance) claims among young workers, especially cancer claims. . . .

    Insurance rates are going up across the board. 

    The answer to what is going on is to raise prices.  They are not differentiating between the vaxed and unvaxed.  So, everybody’s prices are going up.  Health insurance is going to become unaffordable for most people.”

    There is much more in the 48-minute interview.

    Join Greg Hunter of USAWatchdog.com as he goes One-on-One with money manager and investment expert Ed Dowd, author of the updated book called “Cause Unknown: The Epidemic of Sudden Deaths in 2021, 2022 and 2023” for 12.28.24.  The “sudden deaths” are still happening at epidemic levels!!

    *  *  *

    To Donate to USAWatchdog.com click here

    You can order Dowd’s updated book called “Cause Unknown” by clicking here.

    If you want to go to Dowd’s website called PhinanceTechnologies.com, click here.

    (Be on the lookout for his new groundbreaking economic report coming out in January.)

    Dowd’s work on compiling data on deaths, disabilities and injuries caused by the CV19 bioweapon/vax is all free at his website called HumanityProjects.info. You can see the data by clicking here, and you can donate to the HumanityProjects.info by clicking here.

    Tyler Durden
    Sun, 12/29/2024 – 14:00

  • US Homelessness Epidemic Explodes Under Biden-Harris
    US Homelessness Epidemic Explodes Under Biden-Harris

    The latest Annual Homelessness Assessment Report, released by the Department of Housing and Urban Development (HUD), reveals that homelessness across the United States has surged to record highs during the Biden-Harris administration. This is largely attributed to the ongoing housing affordability crisis. Additionally, Biden-Harris’ disastrous open southern border policies unleashed untold millions of illegal aliens, compounding the problem as Democrat-run cities are giving free hotel rooms to illegals while their own homeless populations suffer.

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    HUD’s report found 770,000 people were ‘experiencing homelessness’ on a single night in January 2024, an 18% jump from 2023 figures. This number does not include the nation’s entire homeless population because some stay with friends or family. 

    The figure follows a dramatic 12% rise in homelessness in 2023, and is the highest since the country began using the yearly point-in-time survey in 2007. 

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    “Migration had a particularly notable impact on family homelessness, which rose 39% from 2023-2024,” HUD wrote in the report. 

    HUD continued, “In the 13 communities that reported being affected by migration, family homelessness more than doubled. Whereas in the remaining 373 communities, the rise in families experiencing homelessness was less than 8%.” 

    Massively concerning is that 150,000 children experienced homelessness, a 33% jump in 2024 when compared to the prior year. The report does not separate the number of homeless immigrants vs. US citizens.

    Robert Marbut Jr., the former executive director of the US Interagency Council on Homelessness from 2019 to 2021, told AP News the latest HUD figures over the past four years are “disgraceful.” 

    “We need to focus on treatment of substance use and mental illness, and bring back program requirements, like job training,” Marbut said in an email response to the media outlet.

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    Besides Biden-Harris importing the third world to the first world and the worsening housing affordability crisis amid the government-sparked inflation storm, HUD blamed some of the homelessness on natural disasters. 

    HUD’s data is nearly a year old, and both the housing affordability crisis and illegal alien invasion have persisted. 

    Of note, more than half of people experiencing homelessness nationwide resided in just four states: California, New York, Florida, and Washington. 

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    Gavin Newsom failed California. 

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    Big sigh! 

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    This latest report should come as no surprise to readers already aware that “America’s Homeless Population Reaches Record High Under Biden-Harris Admin” and that the economy is in far more dire straits than the government has acknowledged (thank the BLS statisticians).

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    Tyler Durden
    Sun, 12/29/2024 – 13:25

  • Pandemic Hawks Circle Dr. Jay: Pundits Launch Attacks On Bhattacharya Ahead Of Confirmation Hearings
    Pandemic Hawks Circle Dr. Jay: Pundits Launch Attacks On Bhattacharya Ahead Of Confirmation Hearings

    Authored by Jonathan Turley,

    For those who opposed the censorship and cancel campaigns during the pandemic, Dr. Jay Bhattacharya became an iconic figure of resistance. Unfortunately, the same can be said of the anti-free speech movement and pandemic hawks. Bhattacharya, who co-authored the Great Barrington Declaration and was a vocal critic of COVID-19 policies, has been nominated as the next head of the National Institutes of Health. As I wrote this weekend in my column, the nomination was heralded by many as a turning point for the NIH. It is also a rallying cry for those who supported the earlier measures, as shown by a hit piece in Scientific American, accusing him of being a danger to the very lives of American citizens.

    Bhattacharya was censored, blacklisted, and vilified for the last four years due to his opposing views on health policy, including opposing wholesale shutdowns of schools and businesses. He was recently honored with the prestigious “Intellectual Freedom” award from the American Academy of Sciences and Letters.

    Before the pandemic, Bhattacharya was one of the most respected scientists in the world and served as the director of Stanford’s Center for Demography and Economics of Health and Aging.

    That all changed when he dared to question the science behind pandemic policies, including suggesting that natural immunity would be as good if not better protection for young healthy individuals.

    It did not matter that positions once denounced as “conspiracy theories” have been recognized or embraced by many.

    Some argued that there was no need to shut down schools, which has led to a crisis in mental illness among the young and the loss of critical years of education. Other nations heeded such advice with more limited shutdowns (including keeping schools open) and did not experience our losses.

    Others argued that the virus’s origin was likely the Chinese research lab in Wuhan. That position was denounced by the Washington Post as a “debunked” coronavirus “conspiracy theory.” The New York Times Science and Health reporter Apoorva Mandavilli called any mention of the lab theory “racist.”

    Federal agencies now support the lab theory as the most likely based on the scientific evidence.

    Likewise, many questioned the efficacy of those blue surgical masks and supported natural immunity to the virus — both positions were later recognized by the government.

    Others questioned the six-foot rule, which shut down many businesses, as unsupported by science. In congressional testimony, Dr. Anthony Fauci recently admitted that the rule “sort of just appeared” and “wasn’t based on data.” Yet not only did it result in heavily enforced rules (and meltdowns) in public areas, but the media further ostracized dissenting critics.

    Again, Fauci and other scientists did little to stand up for these scientists or call for free speech to be protected. As I discuss in my new book, “The Indispensable Right,” the result is that we never really had a national debate on many of these issues and the result of massive social and economic costs.

    Now, those who supported these policies are gathering to oppose Bhattacharya.

    It is hardly surprising that one of the first hit pieces came from Scientific American. The magazine not only helped lead the mob response to the pandemic but has also been criticized for abandoning neutrality in recent elections.

    Only a few weeks ago, editor-in-chief Laura Helmuth posted a raving, profanity-laden meltdown on social media in which effectively called over 77.3 million Americans who voted for President-elect Donald Trump both “fascists” and bigots.

    Now the magazine has published an article by Dr. Steven Albert, a professor and the Hallen Chair of Community Health and Social Justice at the University of Pittsburgh’s School of Public Health.

    Two specific attacks stand out in the piece.

    The “Personal Pique” of Censorship

    First, Dr. Albert suggests that Dr. Bhattacharya was never actually censored. He insists that what Bhattacharya calls censorship was merely the fact that “social media venues … dropped his messaging.” It is curious wording and it is not quite clear what Dr. Albert is trying to say.

    When Albert’s article appeared, various other outlets advanced the same claim. For example, MSNBC (which also was a leading outlet in the attacks on skeptics and dissenters during the pandemic) mocked the claim that Bhattacharya was censored.

    “The problem is there’s basically zero evidence to support Bhattacharya and his supporters’ claims of censorship. It is true that some internet sites appeared to remove or limit access to the document. But, as with medical professionals not being sure how best to handle Covid, the same was true of social media companies, which struggled with how best to handle the spread of potentially dangerous information that could have resulted in harm to users.

    Many companies chose, of their own free will and as they were allowed as private actors, to downplay certain information that they felt might do more harm than good. That is their own First Amendment-protected right as private entities in the United States.”

    The article goes on to suggest that there is no proof of censorship without government direction or control.

    As the ACLU has long maintained, censorship occurs in both private and governmental forums. The same figures insist that, if there is no violation of the First Amendment (which only applies to the government), there is no free speech violation. The First Amendment was never the exclusive definition of free speech. Free speech is viewed by many of us as a human right; the First Amendment only deals with one source for limiting it. Free speech can be undermined by private corporations as well as government agencies.

    There is also ample evidence of government officials pushing social media companies to censor pandemic critics. MSNBC simply excuses the censorship by saying that these companies “struggled with how best to handle the spread of potentially dangerous information that could have resulted in harm to users.” In reality, the censorship itself cost the nation greatly. We never had the type of debate that we need on the efficacy of natural immunities, masks, or other precautions. We never explored the science supporting the six-foot rule. We suffered immense costs in education and the economy rather than allowing scientists on both sides to be heard equally on such forums.

    Instead, Bhattacharya became a persona non grata in academia and was subjected to cancel campaigns.  In the Los Angeles Times, columnist Michael Hiltzik decried how “we’re living in an upside-down world” because Stanford allowed these scientists to speak at a scientific forum. He was outraged that, while “Bhattacharya’s name doesn’t appear in the event announcement,” he was an event organizer. Hiltzik also wrote a column titled “The COVID lab leak claim isn’t just an attack on science, but a threat to public health.”

    Critics of Bhattacharya have also cited the fact that he retained his position, unlike some who were dropped by their institutions or associations. Survival is hardly the test of whether someone was censored or canceled.  Bhattacharya holds a position with academic protections, as do some of us fortunate to have tenure in this age of rage. The fact that he persisted and the American people rejected the establishment in this election is not proof that he was not targeted or blocked from academic settings or social media sites.

    Dr. Albert dismisses the censorship debate as a “personal pique” and “a distraction” that “should not obscure the central focus of U.S. public health policy during the pandemic.” Obviously, for many of us who value free speech and a diversity of viewpoints, it is a bit more than a “personal pique.”

    The “Vanity” of Personal Autonomy

    The second point that stood out in the Scientific American article was the warning that Bhattacharya is too focused on individual rights and personal autonomy to be the head of NIH. Dr. Albert declares:

    “Pitting personal autonomy against the application of science to policy is fine for vanity webcasts and think tanks, but inappropriate for NIH leadership. If he would rather focus on promoting personal autonomy in pandemic policy, perhaps he is being nominated to the wrong agency.”

    It is a chilling observation from a leading public health figure. NIH leadership suggests policies impacting a nation and must balance the costs and benefits of any given course. The NIH states that it is focused not just on “scientific integrity” but “public accountability and social responsibility in the conduct of science.” Isn’t individual rights part of that responsibility?

    I would hope that the head of NIH (indeed every NIH official) would place individual rights and personal autonomy as one of the most prominent considerations in setting policies.policy-making Indeed, the NIH routinely discusses and publishes papers on the importance of personal autonomy when discussing subjects like abortion.

    These two points are linked on some level. The nation was divided on many COVID policies, and doubts only grew with the censorship and intolerance that was evident during the pandemic. The NIH contributed to that mistrust with its heavy-handed tactics and viewpoint intolerance. One of the victims of that period will now head the NIH. That experience could be invaluable as Dr. Bhattacharya steers his agency toward a more transparent and tolerant path.

    *  *  *

    Jonathan Turley is the Shapiro professor of public interest law at George Washington University and the author of “The Indispensable Right: Free Speech in an Age of Rage.”

    Tyler Durden
    Sun, 12/29/2024 – 12:50

  • Latest Race Hoax: Slur Posted At College 'Fabricated' To Make Trump Backers Look Bad
    Latest Race Hoax: Slur Posted At College ‘Fabricated’ To Make Trump Backers Look Bad

    In the latest manifestation of a persistent phenomenon, a race hoaxer at a college stepped in to fill the gap between demand for racism and the supply — by creating fictional racism in the form of a written slur posted on the campus, school officials say.   

    This phony incident took place over Thanksgiving break at Rhodes College, a small private school in Memphis with an enrollment of about 4,000. A dozen sheets of paper that paired a racist message with support for then-recently-elected presidential candidate Donald Trump were left at the school’s National Pan-Hellenic Council Plaza, which is a tribute to the school’s historically black fraternities and sororities. Blacks represent 9.7% of the school’s enrollment.  

    According to reported accounts, the hand-written pages said “F*CK NI**ERS, TRUMP RULES.” The school immediately issued a campus security alert about a “reported hate crime of intimidation based on racial bias,” and included a list of “resources available for survivors,” which included personal counseling, along with guidance from the college’s Institutional Equity office.

    The hoaxer wrote large capital letters on 11 sheets of paper to spell out “F*CK NI**ERS” and scrawled “Trump Rules” on another (via Action News 5)

    Black students conducted a silent protest in the lobby of the school’s library, wearing black clothing and posting signs with messages that included “Hold Racists Accountable,” “Stop Racists,” and “Hate speech will not be tolerated.” The university’s Office of Inclusion and Diversity held a paradoxical “open meeting” for black people only. “This is a chance for Black students, faculty, staff, and alumni to unite and develop actionable steps toward institutional change,” an announcement said. 

    Here’s how the “incident” was initially reported: 

    In what will come as no surprise to regular ZeroHedge readers, the whole thing turned out to be phony, as the school confirmed in a statement to Fox News Digital:  

    “Thanks to the tireless efforts of our Campus Safety officers and the Memphis Police Department, the investigation into the hate crime that occurred recently on our campus has ended with the identification of the perpetrator and the conclusion this incident was fabricated. This individual has admitted responsibility…This matter has caused enormous pain to our community, and we are taking the appropriate steps to hold this individual accountable, including all legal avenues that may be available to us.”

    The hoax led black Rhodes College students to hold a silent protest in the library; one sign read “We will not stand down!!!!” (via Action News 5)

    Rhodes College’s quest for accountability has its limits: the school is keeping the culprit’s name and relationship with the institution a secret. The college did say the hoaxer reported the incident with hopes of blaming someone else for doing it.  

    Between the posting of the racist, Trump-supporting language and the announcement that it was a fraud, black student and Pan-Hellenic Council member Lauren Roberts complained that authorities weren’t working hard enough to find the (non-existent) bigot, telling WREG, “They are saying they are investigating and doing this and that and the third but it’s been two weeks and you still haven’t found anybody that’s kind of like a bummer to the black community, in my opinion.”

    The Rhodes College episode is the latest of many campus racism hoaxes. A very small sampling of other such frauds includes:  

    Kentucky State University criminal justice and political science professor Wilfred Reilly wrote a book on race hoaxes and maintains a database which suggests less than a third of reported hate crimes are real. Reilly wrote that, with “absolute confidence,” it can be said that “the actual number of hate crime hoaxes is indisputably large…We are not speaking here of just a few bad apples.” 

    Tyler Durden
    Sun, 12/29/2024 – 12:15

Digest powered by RSS Digest

Dec 29

Today’s News 29th December 2024

  • Al Qaida Is Winning – The New Caliphate In Syria
    Al Qaida Is Winning – The New Caliphate In Syria

    Authored by Sam Faddis via ANDMagazine.com,

    Biden began his term in office by abandoning Afghanistan to the Taliban and allowing the creation of a new terrorist super state. He is finishing his time in the Oval Office by watching helplessly as a new Caliphate is formed in the rubble of what was once Syria. Divorced from reality as always, his hapless State Department now calls the jihadi ruler of Damascus Al-Jolani a “pragmatist” and talks mindlessly about accommodation and cooperation with mass murderers and rapists.

    Meanwhile, inside Syria, the new Islamic rulers are losing no time in consolidating their rule and making clear their intentions. On 26 December, Al-Jolani appointed former Al-Qaeda commander and Nusra Front co-founder Anas Hassan Khattab as the head of the country’s general intelligence agency. Khattab was designated a “terrorist” by the United Nations a decade ago. According to the UN, he was involved “in the financing, planning, facilitating, preparing, or perpetrating of acts or activities by, in conjunction with, under the name of, on behalf of, or in support of” and “otherwise supporting acts or activities of” the Nusra Front. This Al-Qaeda offshoot was rebranded as Hayat Tahrir al-Sham (HTS) in 2017.

    Those are the guys who now run Syria.

    As the head of intelligence Khattab’s job will not be to prepare detailed analyses of foreign developments. He will be in charge of domestic security. His job will be to crush any dissent and guarantee Al-Jolani stays in power. He has already been performing that function in the areas that HTS has controlled for years, where torture and murder are common tactics used to stifle dissent.

    Last week, Asaad Hassan al-Shibani, a founding member of Al-Qaeda in Syria, was appointed foreign minister for the new terrorist state being created in Syria.

    Meanwhile, more information is becoming available on the composition of the jihadist forces that drove Assad from power. Contrary to press reports that want to characterize the ousting of Assad as some sort of liberal, democratic, populist movement, the reality appears to be that substantial numbers of fighters from outside of Syria are present on the ground. Just before Christmas, a video surfaced of a Christmas tree in a town in Syria being burned by Islamists. It now appears the terrorists who carried out this action were Uzbek fighters fighting with Al-Jolani’s forces.

    In fact, substantial numbers of Central Asians are in Syria and serving the new Caliphate. According to the Middle East Media Research Institute (MEMRI),

    “The exact number of Tajik, Uzbek, and Chinese Uyghur citizens present in Syria is unknown, but these individuals operate in three separate groups under the leadership of Hay’at Tahrir Al-Sham.”

    “Tajik jihadis residing in Syria operate under an organization called Jaish Al-Jihad Imam Abu Hanifa. Members of this group refer to its flag and name as the central focus of their activities on their Telegram channels. Several Telegram channels affiliated with this organization are active, sharing jihadi messages and reports from the Syrian battlefield.”

    “One of the Tajik jihadis in Syria, known as ‘Musafir Tactical’, produces videos on YouTube and Telegram to promote and recruit young Tajiks for the war. He also creates content teaching weapon usage, the operation of communication devices, the repair of automatic weapons, and guerrilla warfare tactics.”

    “Another member of the group, known as Mohsen Tajiki, also has thousands of followers on social media. Since the start of Hay’at Tahrir Al-Sham’s offensive on Aleppo, he has been providing updates moment by moment on the advances toward villages and towns under the control of Bashar Al-Assad’s government.”

    “The East Turkestan Islamic Party is one of the most active jihadi groups in Syria, and compared to other Central Asian-origin groups, it has more resources and manpower. This group is a Uyghur jihadi organization that has been active in the Syrian civil war since around 2012. Its stated goal is to establish an Islamic state in the Xinjiang region of China (East Turkestan) and it is aligned with various jihadi groups in Syria, including branches of Al-Qaeda.”

    “Fighters from Uzbekistan and Kyrgyzstan are also present in Syria, having fought under the flag of Hay’at Tahrir Al-Sham during the attack on Aleppo, and are now on the front lines fighting to advance toward other cities in Syria. These Uzbek and Kyrgyz fighters operate within a group called Katibat Al-Tawhid wAl-Jihad, which was established in northern Syria in 2013.”

    “In March 2022, the U.S. Department of State designated this group as a terrorist organization due to its terrorist activities and its connections with international terrorist organizations, including Al-Qaeda.”

    None of this is consistent with the fiction that Syria is now controlled by individuals seeking a liberal democratic order and cooperation with the West. It is a picture of a nation that has fallen to radical Islamic forces and which will now in tandem with Afghanistan serve as a launching pad for attacks on the United States and its allies.

    Already Al-Jolani’s boys are moving fast to consolidate power. They are demanding that all rival groups turn in their weapons and disarm. They are beginning to proscribe rules for women’s dress throughout the country. They are also advising that anyone who fears Islamic rule is simply misinformed. You will live under Sharia law and you will like it.

    We spent twenty years fighting a war against Islamic terror. That war is not over. We simply stopped shooting back. In a matter of years, we have allowed the creation of two radical terrorist states from which attacks can be launched worldwide. The newest of those is in the heart of the Middle East.

    Don’t look now. Al Qaida is winning. There is a brand new caliphate in Syria.

    Tyler Durden
    Sat, 12/28/2024 – 23:20

  • "We Tested 300 Bay Area Foods For Plastic Chemicals" Here's What We Found…
    “We Tested 300 Bay Area Foods For Plastic Chemicals” Here’s What We Found…

    Robert F. Kennedy Jr. has set his sights on the processed foods industrial complex. Nominated by President-elect Donald Trump to lead the Department of Health and Human Services, Kennedy has long been an outspoken critic of toxic ingredients in food, including dyes and seed oils.

    Trump’s second term has yet to begin, but the merging of the ‘Make America Healthy Again‘ and ‘Make America Great Again’ movements has sparked a dietary awakening among millions of consumers.

    It’s not just dyes and seed oils poisoning Americans and ending their lives short; plastic chemicals are increasingly being found in popular fast foods and supermarket staples.

    The former CEO of GitHub, Nat Friedman, who is also an investor seeding AI, infrastructure, open source, and frontier tech companies and is focused on health, published data on X about plastic chemicals found in a majority of foods across the San Francisco Bay Area. 

    “We did it! We tested 300 Bay Area foods for plastic chemicals. We found some interesting surprises,” Friedman wrote on X. 

    Here are the top five findings from the test, most of which are shocking (full results published here): 

    1. Our tests found plastic chemicals in 86% of all foods, with phthalates in 73% of the tested products and bisphenols in 22%. It’s everywhere.

    2. We detected phthalates in most baby foods and prenatal vitamins.

    3. Hot foods which spend 45 minutes in takeout containers have 34% higher levels of plastic chemicals than the same dishes tested directly from the restaurant.

    4. The 1950s Army rations we tested contained surprisingly high levels of plastic chemicals.

    5. Almost every single one of the foods we tested are within both US FDA and EU EFSA regulations.

    Friedman noted:

    “An important disclaimer: we have refrained from drawing high-confidence conclusions from these results, and we think that you should, too. Consider this a snapshot of our raw test results, suitable as a starting point and inspiration for further work, but not solid enough on its own to draw conclusions or make policy recommendations or even necessarily to alter your personal purchasing decisions. These results represent point-in-time results of a small number of product samples and may not be representative of actual product contents. These tests, like all tests, have inherent uncertainties, and different testing methodologies are likely to yield different results. And the existence of a chemical in a food doesn’t necessarily imply a safety issue. We’d be thrilled to see serious efforts to replicate our results and we are open to any corrections you may have.” 

    “Was the Whole Foods meat from the counter or the packages on the shelves? I get this brand there,” one X user asked Friedman. 

    He responded…

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    The Ribeye steak from Whole Foods ranked fairly high on the list for plastic chemicals.

    Someone else said.

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    The great food awakening continues, broadening from warnings about dyes and seed oils to a new call for Americans to demand changes in food packaging and processing to eliminate plastic chemicals. 

    Studies reveal that microplastics accumulate in the body and pose “a significant health risk.” For more details, read here: “A Significant Health Risk’: How Everyday Items Fill Our Bodies With Microplastics.”

    Tyler Durden
    Sat, 12/28/2024 – 22:45

  • US, Japan Unveil 'Extended' Deterrence Guidelines, Citing Rising Nuclear Threats
    US, Japan Unveil ‘Extended’ Deterrence Guidelines, Citing Rising Nuclear Threats

    Authored by Tom Ozimek via The Epoch Times,

    The United States and Japan have unveiled new guidelines for “extended” deterrence, citing an “increasingly severe strategic and nuclear threat environment” that reflects heightened tensions in the Indo-Pacific, where China, Russia, and North Korea have taken steps to modernize their arsenals and project power.

    The guidelines, unveiled on Dec. 27 through coordinated statements from the U.S. State Department and Japan’s Ministry of Foreign Affairs, underscore the two nations’ commitment to reinforcing their alliance to maintain regional stability and deter conflict.

    “The Alliance will continue to explore how best to ensure extended deterrence is strong and credible,” read the identical statements from the two countries.

    The guidelines are the culmination of long-running discussions under the Extended Deterrence Dialogue, a bilateral framework established in 2010 to address challenges to the U.S.–Japan alliance posed by evolving security threats.

    Details of the new guidelines have not been disclosed.

    Both the United States and Japan said that the document emphasizes enhancing strategic messaging to ensure adversaries clearly understand the alliance’s resolve and capabilities. The measures also include bolstering U.S. extended deterrence with Japan’s defense advancements, such as enhanced missile defense systems and readiness to respond to contingencies.

    The joint announcement coincided with Japan’s Cabinet approval of a record $55 billion defense budget for 2025, marking the third year of a sweeping five-year military buildup under Japan’s national security strategy adopted in 2022. The broader national budget bill, totaling over $730 billion, is set for parliamentary approval by March.

    Part of Japan’s plan involves bolstering its missile defenses. To this end, Japan has allocated another $3.37 billion for interceptors and a mobile reconnaissance radar on Okinawa, a strategic location hosting more than half of the 50,000 U.S. troops stationed in Japan.

    Japan is also preparing to deploy U.S.-made Tomahawk cruise missiles by late 2025, a pivotal step in its bid to acquire strike-back capability. The defense budget allocates $6 billion for a “standoff” defense system that includes long-range missiles, satellite constellations, and other advanced arsenals. Among these, $11.4 million is earmarked for outfitting Aegis-class destroyers to launch Tomahawks.

    The five-year strategy also aims to double Japan’s annual military spending to around $63 billion, positioning Japan as the world’s third-largest military spender, behind the United States and China.

    The new deterrence guidelines and Japan’s record defense budget signal a united front aimed at countering growing regional threats, reflecting concerns over China’s growing military assertiveness, North Korea’s persistent missile tests, and Russia’s activities in the Indo-Pacific.

    Japan’s newly elected Prime Minister Shigeru Ishiba has been outspoken about the inadequacy of traditional deterrence frameworks. In a recent interview with the Hudson Institute, Ishiba warned that developments in nuclear weaponry and delivery systems by adversaries could undermine U.S. extended deterrence.

    Ishiba has proposed the creation of an “Asian version of NATO” that would ensure deterrence against the “nuclear alliance of China, Russia, and North Korea,” while calling for nuclear-sharing agreements and the potential deployment of U.S. nuclear weapons on Japanese soil.

    Tyler Durden
    Sat, 12/28/2024 – 22:10

  • Cooking Oils Used By Millions Linked To Cancer In Second Study In A Week
    Cooking Oils Used By Millions Linked To Cancer In Second Study In A Week

    Via The Mind Unleashed,

    Imagine if something as common as the oil in your kitchen could be silently contributing to cancer. For millions around the world, this unsettling possibility has moved from speculation to science. Two studies, released just days apart, have cast a harsh spotlight on widely used cooking oils, suggesting a troubling connection between their consumption and increased cancer risks, particularly in the colon.

    These findings are not just scientific footnotes—they are alarms ringing in households globally, where seed oils like sunflower, soybean, and canola are staples in daily cooking. As scientists dive deeper into the health consequences of these oils, they’re uncovering a hidden cost to convenience and affordability. Are we sacrificing long-term health for short-term savings? And if so, how can we protect ourselves from this unseen risk?

    What the Studies Reveal: Key Findings

    In two groundbreaking studies released just days apart, researchers have spotlighted a concerning link between widely used cooking oils and cancer risks, specifically pointing to tumor growth in the colon and other organs. These studies raise critical questions about the health implications of seed oils, a staple in kitchens worldwide.

    One study conducted at the University of California, Los Angeles, focused on the effects of certain oils on cancer progression. Dr. William Aronson, a professor of urology at UCLA School of Medicine who led the study, stated: “Our findings suggest that something as simple as adjusting your diet could potentially slow cancer growth and extend the time before more aggressive interventions are needed.” His team’s research suggests that dietary changes could be pivotal in managing the progression of diseases like prostate cancer.

    Meanwhile, another study examined how the consumption of seed oils, such as sunflower and soybean oils, could increase levels of carcinogenic compounds in the body. These compounds, including polycyclic aromatic hydrocarbons (PAHs), are known to play a role in tumor development. The findings have sparked further investigation into the safety of these oils and their processing methods, especially when exposed to high heat during cooking.

    Together, these studies provide a sobering glimpse into the risks associated with cooking oils that millions consider harmless. By focusing on the potential long-term impacts, the researchers aim to ignite a broader conversation about diet, lifestyle, and cancer prevention.

    The Science Behind the Risk: How Cooking Oils Are Linked to Cancer

    Cooking oils, often seen as innocuous kitchen essentials, may harbor hidden dangers that extend far beyond their caloric content. The scientific findings point to a troubling connection between these oils and the development of carcinogens during their use. Specifically, when oils like sunflower or soybean are heated, they release harmful compounds that have been linked to tumor growth.

    One of the main culprits identified in the studies is the production of polycyclic aromatic hydrocarbons (PAHs) and aldehydes. These toxic substances are formed when oils undergo thermal decomposition, a process that occurs when they are heated to high temperatures. These compounds have long been recognized for their potential to damage DNA and trigger cellular mutations, laying the groundwork for cancer development.

    Dr. William Aronson emphasized the importance of understanding how dietary choices influence cancer risks. As he explained, “This is an important step toward understanding how diet can potentially influence prostate cancer outcomes.” The research underscores the role of oxidative stress caused by these compounds, which not only fuels cancerous growths but also accelerates inflammation, a known precursor to various chronic diseases.

    Moreover, the risks aren’t confined to occasional deep frying or high-heat cooking. Even regular, everyday use of these oils in common cooking practices—like stir-frying or sautéing—can release these hazardous substances, making the threat widespread and pervasive. Understanding these mechanisms helps shed light on why the seemingly harmless cooking oils in our homes may be contributing to a growing public health concern.

    Seed Oils in the Spotlight: A Look at the Culprits

    At the center of these alarming studies are seed oils, a category that includes widely consumed options like sunflower, soybean, canola, and corn oils. Praised for their affordability and versatility, these oils have become staples in households and commercial kitchens worldwide. However, their widespread use comes with potential health risks that many consumers are unaware of.

    Seed oils are particularly problematic because they are rich in polyunsaturated fatty acids (PUFAs), which are unstable when exposed to heat. When these oils are subjected to high temperatures during frying or other cooking methods, they degrade, releasing harmful chemicals such as aldehydes and PAHs. These compounds have been directly linked to cancer and other chronic diseases in multiple studies.

    Adding to the concern, seed oils are heavily refined and processed, often involving high heat and chemical solvents during production. This process not only strips the oils of any beneficial nutrients but also creates toxic byproducts even before the oils reach consumers.

    The global reliance on these oils is driven largely by their low cost and long shelf life. Sunflower and soybean oils, for example, dominate cooking practices in both high-income and low-income regions due to their availability and affordability. Yet, as these studies reveal, the convenience of seed oils may come at a significant cost to long-term health.

    This growing body of research is forcing a re-evaluation of seed oils’ place in the modern diet, with scientists urging caution and advocating for safer alternatives. The implications for public health are profound, as millions of people continue to rely on these oils in their daily cooking.

    The Global Impact: Millions at Risk

    The widespread use of seed oils places millions of people at potential risk, especially in regions where these oils dominate culinary practices due to their affordability and availability. Sunflower, soybean, and canola oils, among others, are often considered essential kitchen staples in low-income households and developing nations, making the health implications of these studies a global concern.

    A key issue lies in the balance between cost and safety. For many, these oils represent an economical solution to everyday cooking needs, but their long-term health costs are largely invisible. The findings from recent studies underscore that what appears to be a budget-friendly choice may carry hidden dangers in the form of increased cancer risks. This is particularly troubling in communities that lack access to healthcare resources, where prevention through dietary changes becomes even more critical.

    Additionally, the reliance on seed oils is not confined to individual households. They are heavily used in the food industry for frying, baking, and as key ingredients in processed foods. This amplifies exposure to the harmful compounds linked to these oils, as they are often consumed multiple times a day in various forms.

    The public health implications are significant. If these findings continue to hold true, governments and health organizations may need to revisit guidelines on cooking oils and promote education about healthier alternatives. Raising awareness about the risks and encouraging safer cooking practices could save countless lives while fostering a much-needed shift toward more conscious dietary choices.

    In a world where seed oils are deeply embedded in culinary traditions and food supply chains, the challenge lies in addressing this health threat without compromising affordability or accessibility. This makes the recent findings not just a wake-up call, but a critical step toward global dietary reform.

    Expert Opinions: What Scientists and Doctors Are Saying

    The recent findings linking cooking oils to cancer risks have sparked widespread concern among researchers and health professionals. Experts are emphasizing the need for awareness and further investigation into the compounds released during high-heat cooking with seed oils. These harmful byproducts, including aldehydes and polycyclic aromatic hydrocarbons (PAHs), have been directly tied to cellular damage and tumor development.

    Researchers have also raised questions about the widespread reliance on highly processed seed oils in modern diets. The processing methods often involve high heat and chemical treatments, which can produce toxic residues even before the oils are used in cooking. This has led many health professionals to recommend exploring alternative oils with higher heat stability and lower risk profiles.

    While not all experts agree on the immediate implications of these findings, there is consensus that diet plays a critical role in preventing chronic diseases, including cancer. Public health advocates are urging consumers to consider these findings when making everyday dietary choices, highlighting the need for further research to solidify these early conclusions.

    By spotlighting the risks associated with widely used oils, these studies are a call to action for consumers, policymakers, and the food industry alike. The goal is not only to reduce exposure to potentially harmful substances but also to promote safer, healthier cooking practices on a global scale.

    What You Can Do: Healthier Alternatives and Precautions

    While the findings on seed oils are alarming, they also serve as an opportunity to take proactive steps toward healthier cooking practices. By making informed choices, consumers can minimize their exposure to potentially harmful compounds and reduce their risk of associated health issues.

    1. Choose Safer Cooking Oils
      Replace seed oils like sunflower, soybean, and canola with alternatives that have higher heat stability and fewer harmful byproducts. Oils such as extra virgin olive oil, avocado oil, and coconut oil are better suited for cooking at higher temperatures and are less likely to produce toxic compounds. Additionally, cold-pressed oils are less processed, retaining more of their natural nutrients and antioxidants.
    2. Modify Cooking Techniques
      The method of cooking can significantly impact the safety of oils. Opt for low-heat cooking methods such as steaming, baking, or slow cooking, which reduce the risk of forming carcinogenic compounds. Avoid deep frying or prolonged high-heat cooking, and ensure proper ventilation in the kitchen to minimize exposure to any airborne toxins.
    3. Incorporate Fresh and Whole Foods
      Diversifying your diet with fresh fruits, vegetables, and whole grains can help offset the potential risks associated with oils. These foods are rich in antioxidants and nutrients that combat inflammation and oxidative stress, two key factors in cancer development.
    4. Stay Informed and Read Labels
      Pay close attention to the labels on cooking oils. Look for minimally processed options and avoid products that list additives or chemical stabilizers. Awareness of how oils are processed and the conditions under which they are used can help you make safer choices.

    Small changes, like swapping oils and tweaking cooking methods, can have a significant impact on long-term health. By taking these precautions, individuals can mitigate risks and empower themselves with healthier, more conscious dietary habits.

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    Tyler Durden
    Sat, 12/28/2024 – 21:35

  • Doug Casey On 2024's Defining Events And What Comes Next
    Doug Casey On 2024’s Defining Events And What Comes Next

    Via InternationalMan.com,

    International Man: As we approach the end of the year, let’s take a step back, review the Big Picture, and assess 2024’s major developments to better understand what may come next.

    Before we drill down into specifics, what’s your high-level view of what happened in 2024?

    Doug Casey: Let’s break it down into politics, economics, technology, and culture.

    Politically, the election of Trump, against the will of the Elite, the Deep State, and the Establishment—they’re pretty much the same thing—came as a surprise to me. I suspected they’d succeed in stealing the election. More important than the election of Trump, though, is the defeat of Kamala and the Jacobins of the Democrat Party.

    That defeat is echoed by a reaction against the Left most everywhere. The leftist German government—it was starting to mimic the old East German regime—will hopefully be replaced with the AfD. The elitist Macron is on his way out in France, as is Trudeau in Canada. In Romania, the election of Georgescu (see our interview with him) is being fought tooth and nail by their Deep State, but I think he’ll triumph. Hungary and Slovakia won’t participate in the insane war in the Ukraine. There’s a growing reaction against both war and Wokeism.

    Regarding the economy, the average guy’s standard of living is flat to descending, albeit propped up by debt. He’s buried under mortgage debt, auto loans, student debt, and credit card debt. It is, to use a currently fashionable word, unsustainable like that of the government itself. On the bright side, the top 10%, and especially the top 1%, aided by a roaring stock market, are doing better than ever. Will it lead to a violent wave of resentment among the hoi polloi? When has it not?

    Technologically, Artificial Intelligence finally came into its own in 2024. It’s widely used, and scores of gigantic data centers, which consume gigantic amounts of power, are being built everywhere. AI itself is cause for huge optimism. But it also, almost inevitably, means there will be a renaissance of nuclear power; even Greens seem to recognize it.

    Space exploration is advancing rapidly with the success of SpaceX, which has taken over from NASA, the Europeans, and the Chinese.

    Culturally, it seems 2024 was the year of Peak Woke in the universities, media, and corporations. The idiotic bubble has finally burst. One sign of that was the delegitimization of mass media. Nobody trusts CNN, MSNBC, or any other networks. People increasingly get news from decentralized sources.

    At the same time, there’s a growing trend towards delegitimizing government in general, and the US government in particular. We saw this with the hurricane in North Carolina, where FEMA was not only unhelpful but counterproductive. And the hundreds of large drones floating around the Northeast at night. The government proved itself too incompetent to solve the mystery and too dishonest to discuss its findings, if any. Across the country, people have become pretty fed up with the old order.

    So, except for the underlying rot in the economy, this is all good news.

    International Man: Trump winning the 2024 presidential election was a defining moment in 2024.

    What are your thoughts on the political and cultural changes sparked by this?

    Doug Casey: Sometimes a man makes the times, and other times, the times make the man. It’s the latter with Trump.

    History is punctuated by people like Alexander, Caesar, Genghis Khan, Louis XIV, Napoleon, and Hitler. People like that—and it’s a hugely abbreviated list—change the nature of life, mostly by leaving a trail of dead bodies in their wake. The most famous men in history are, perversely, and almost without exception, the most criminal.

    Americans escaped, by the skin of their teeth, what would have become a Democrat “people’s republic” under the dim and evil Kamala. That said, the election of Trump will break a lot of rice bowls, which is great. It’s needed, and I’m all for it. But anything can happen with the economy, the political system, American culture, and the international situation all on shaky ground.

    Maybe Trump augurs morning in America, as did Reagan. But when Reagan was elected, the stock market was around 1000—in real terms, a historic low. Interest rates were over 15%, historic highs. And Reagan was philosophically quite libertarian. Now, however, the stock market is at all-time highs, in bubble territory. Interest rates have started rising from all-time lows. And Trump is no libertarian; he lacks a philosophical center.

    Those are scary differences.

    It’s said that a butterfly flapping its wings in the Amazon can cause a flood in China. Trump is like a butterfly the size of Rodan. And he’s righteously pissed off about what the Jacobins tried to do to him.

    We’re in for big changes. But let’s look at this from a historical perspective. The long-term trend of history, since the end of the Neolithic 12,000 years ago, is that everything’s been getting better in all ways at an accelerating rate. Unless we suffer a real disaster, like WW3, economic and technological progress will almost certainly continue. The installation of Trump, Kamala, or whoever is no more than a bump in the road.

    International Man: One of the most significant financial events of 2024 was the Federal Reserve’s pivot back to monetary easing under the pretext of having defeated inflation.

    What are your thoughts on this policy shift and its broader economic implications?

    Doug Casey: I’m amazed that anybody really cares about what the Federal Reserve says or seems to do. Manipulating short-term interest rates by a quarter or a half of a percent here or there is trivial. Long-term rates are what count; long-term, not short-term, rates represent the cost of capital to build industry and develop property. With the Fed creating dollars by the trillions to support the government, rates can only go up.

    The dollar has lost at least 98% of its value since the Fed was created 111 years ago. And that trend is accelerating as the US government runs multi-trillion-dollar deficits, which can only be financed by the Fed, creating more dollars. They have no real choice.

    The question is not whether the Fed is going to adjust rates up or down. It’s whether we will have a 1923-style German runaway inflation or a 1929-style catastrophic deflation. If the Fed doesn’t print money fast enough to finance all the debt in the world, the whole system will come unglued in a deflation. So, I’m betting on more money and credit being created. And higher prices to go with them.

    International Man: What were the most crucial geopolitical events of 2024, and how might they shape the future?

    Doug Casey: The most important geopolitical event has received the least press: the election of Javier Milei in Argentina. His success in rolling back the size of the Argentine government is historic. He has fired scores of thousands of government employees, abolished agencies, abolished many taxes, and abolished a lot of price controls and subsidies. The government, which has perpetually run in deeply the red, financed by printed fiat money, is now in the black after only one year. This is a really major change, a veritable first in world history, and a change in the megatrend, with any luck.

    A lesser noticed but related sea change is the triumph of Bukele’s policies in El Salvador. Two years ago, it had probably the world’s worst crime problem after Haiti. Now, it’s one of the world’s safest countries. It was solved, at least temporarily, by locking up about 65,000 known gang members. In the meantime, there’s complete freedom of speech and opinion, and property rights are secure. As a bonus, Bitcoin is recognized as an official currency.

    The other big event is the collapse of the Assad regime. There will be complete chaos as numerous groups jockey for control of Syria. I think it’s a template for the future in most of the artificially constructed countries of the Middle East and Africa—the whole world, in fact—although hopefully more peaceably in most places.

    International Man: Gold and Bitcoin hit new all-time highs in 2024, while the S&P 500 rose around 24% year-to-date at the time of writing.

    What’s next?

    Doug Casey: Gold is no longer cheap. It’s about where it “should” be, compared to historical prices of houses, cars, clothes and food.

    Bitcoin, as a new asset class, a digital age money, is finding its level. As it catches on with the world at large, it’s going higher. But this isn’t the time to discuss why I think that’s true.

    Resource stocks—gas, oil, uranium, coal, gold, silver, copper, etc.—are truly cheap. They’re the best speculative vehicles I can think of. Will they go 10-1 as a group? It wouldn’t be the first time.

    As for the bubbly stock and bond markets, there’s an incoming tsunami. Get out of the water.

    *  *  *

    Doug Casey’s forecasts helped investors prepare and profit from: 1) the S&L blowup in the ’80s and ’90s, 2) the 2001 tech stock collapse, 3) the 2008 financial crisis, 4) and now… Doug’s sounding the alarms about a catastrophic event. One he believes could soon strike. To help you prepare and profit, Doug and his team have prepared a special video. Click here to watch now.

    Tyler Durden
    Sat, 12/28/2024 – 21:00

  • Plane With 175 Passengers Crashes At South Korea Airport, At Least 85 Dead
    Plane With 175 Passengers Crashes At South Korea Airport, At Least 85 Dead

    At least 85 people were killed when a Jeju Airlines airplane veered off the runway and erupted into a fireball as it slammed into a concrete wall at South Korea’s Muan International Airport on Sunday, Yonhap reported, after its landing gear malfunctioned following what aviation authorities say was a likely bird strike.

    Video shared by local media showed the twin-engine aircraft skidding down the runway with no apparent landing gear before slamming into a wall in an explosion of flame and debris. Other photos showed smoke and fire engulfing parts of the plane.

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    The crash occurred shortly after 9 a.m. (0000 GMT) as Jeju Air flight 7C2216, yet another unfortunate Boeing 737 aircraft (an 800, not a Max), was carrying 175 passengers and 6 crew members to Muan International Airport, in the country’s south from the Thai capital Bangkok.

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    At least 33 bodies have been recovered but that number is not final, a fire official told Reuters.

    Two people were found alive and rescue operations were still under way, a Muan fire official said. The official and the transport ministry could not confirm the reports of 28 dead. Yonhap said three people had been rescued. Authorities were working to rescue people in the tail section, an airport official told Reuters.

    The passengers included two Thai nationals, and the rest are believed to be South Koreans, according to the transportation ministry.

    Jeju Air, the airplane’s operator, was seeking details of the accident, including its casualties and cause, an airline spokesperson said.

    South Korean acting President Choi Sang-mok, who was named interim leader of the country on Friday after the previous acting president was impeached amid an ongoing political crisis, ordered all-out rescue efforts, his office said. His chief of staff convened an emergency meeting.

    The incident is suspected to have been caused by a landing gear malfunction following a bird strike, according to the local fire department.

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    The Korean transport ministry said it was investigating the crash. The airline and the fire department were not immediately available for comment.

    The fatal crash takes place just days after a Dec. 25 crash involving an Azerbaijan Airlines passenger plane, killing dozens.

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    Tyler Durden
    Sat, 12/28/2024 – 20:21

  • Lefty Legal Experts Urge Congress To Disqualify Trump In Last Ditch Effort To Keep Him From Taking Office
    Lefty Legal Experts Urge Congress To Disqualify Trump In Last Ditch Effort To Keep Him From Taking Office

    Authored by Debra Heine via American Greatness,

    Two Democrat legal experts are calling on Congress to take immediate action to prevent President-elect Donald Trump from taking office, citing Section 3 of the 14th Amendment.

    Evan A. Davis, the former editor in chief of the Columbia Law Review and David M. Schulte, the former editor in chief of the Yale Law Journal, called for Trump’s disqualification in an opinion piece for The Hill, citing Section 3 of the 14th Amendment.

    Davis is a New York City attorney and a former president of the New York City Bar Association. He worked on the U.S. House Judiciary Committee impeachment inquiry staff during the impeachment process against Richard Nixon.

    Schulte is an investment banker and good friend of Barack Obama. He owns the oceanfront Martha’s Vineyard home where the Obama and his family used to vacation when he was in office.

    Section 3 of the 14th Amendment bars individuals who have engaged in insurrection or rebellion against the United States, or given aid or comfort to its enemies from holding “any office, civil or military.”

    In a unanimous decision last March, the Supreme Court tossed out a Colorado court decision that barred Donald Trump from appearing on the state’s Republican presidential primary ballot.  The lower court had based its decision on 14th Amendment  provision.

    In their 9-0 ruling, the Supremes concluded that “states have no power under the Constitution to enforce Section 3 with respect to federal offices, especially the Presidency.”

    But Davis and Schulte argue that evidence of Donald Trump engaging in “insurrection” is “overwhelming” and that Congress has the authority to block Trump from being inaugurated under the Constitution and the Electoral Count Act of 2022.

    The act, which was intended to prevent another January 6 scenario, added certain procedures for the counting of electoral votes following a presidential election.

    In January 2021, the then-Democrat controlled House of Representatives impeached Trump for “incitement of insurrection” following the January 6 Capitol riot, but the Senate acquitted him,  falling short of the two-thirds majority needed for conviction.

    The Democrat lawyers argue that the majority (57-43) vote in the Senate supports their case for disqualification under the 14th Amendment.

    They say that any votes cast for Trump should be deemed “not regularly given” due to his alleged disqualification.

    “Democrats need to take a stand against Electoral College votes for a person disqualified by the Constitution from holding office unless and until this disability is removed,” the Davis and Schulte wrote.

    “No less is required by their oath to support and defend the Constitution.”

    Most legal experts however agree that the notion of Republican lawmakers supporting a move that could elevate Kamala Harris to the presidency is highly improbable and at the moment, Democrats just don’t have the stomach for such a fight.

    “Republicans and Democrats seem to agree they’ll give Trump the smooth, drama-free transfer of power he denied Democrats in 2020,” Politico reported Thursday, adding “top Democrats say they have no plans to stand in the way of Trump’s victory — and they’re not even sure their rank-and-file colleagues will make the token objections they’ve lodged in years past.”

    Tyler Durden
    Sat, 12/28/2024 – 19:50

  • 'Philanthro-Capitalism' – RFK Jr. Questions Bill Gates' Motivations
    ‘Philanthro-Capitalism’ – RFK Jr. Questions Bill Gates’ Motivations

    “I know most about Gates, you know, because I’ve written a book about him,” says Robert F. Kennedy Jr. – President-elect Trump’s Secretary of Health and Human Services – recollecting his 2021 book, “The Real Anthony Fauci’, where RFK Jr exposes Gates’ so-called “philanthro-capitalism”, which, he explains is “using philanthropy to make yourself rich and you use it strategically and that’s what he’s done again and again.”

    “He’s gotten control of the World Health Organization so that they mandate vaccines all over the world and the companies that make those vaccines are, Gates’ and many of them the major shareholder. And so and he did the same thing with the green revolution.”

    RFK Jr.  – full of facts and not conspiracies (for, if they were, where are the defamation suits) – then unraveled one of Gates’ greatest disasters:

    “He got a hold of the the regulatory agencies in African countries and forced them to take, to change the nature of agriculture. You know, there there’s there’s 20,000 generations of agriculture of of people being, growing, crops like sorghum and plantains and yucca and all these plants for subsistence.”

    “And he said, no. We’re gonna transfer them all to these, you know, GMO monocultures of corn, and then we’re gonna bring in, the companies that he owns Kraft, Coca Cola, McDonald’s, these big food companies, processing companies to buy that and that’s gonna be the deal.”

    “And then of course during COVID, all of that shut down and you had, you know, there’s 30,000,000 Africans now as a direct result of Gates’s policy who are now on the edge of starvation.”

    But, it gets worse, as Gates ‘ventured’ into the vaccine world:

    “I think the the big the real tell was what happened with the DTP vaccine, which is diphtheria, tetanus, and pertussis. Because of Gates pushing this this shot, it’s now the number one vaccine in the world, DTP.”

    “And it’s mainly given in Africa. It was that particular shot is discontinued in the United States because it was killing 1 out of every killing or badly injuring 1 out of every 300 kids who took it. We ended it in Europe and the United States, but there’s Gates giving it to every kid in Africa. And in 2017, he asked the Danish government for money to support this program and he said, we’ve saved we’ve saved 20,000,000 kids. The Danish government said, can you show us the data?”

    “He couldn’t. So the Danish government went and did its own study, and they had records of 30 years of this vaccine in a country called Guinea Bissau. And, they looked at the records and what they they realized in retrospect, which they were never seeing, is that the the girls who were getting that vaccine at 6 months of age were 10 times more likely to die over the next 6 months as children who didn’t get it. “

    “Wow. And they were dying of things that nobody on the ground had ever associated with vaccination.”

    “They were dying of anemia and bilharzia and malaria and dysentery, and, and, and nobody had ever had made the connection that it’s only the girls who got the vaccine who were dying of those things, that the other kids were much healthier. ”

    “And the Danish government had hired the retained the greatest, vaccine scientist all and were pro vaccine. A guy called Peter Aaby who’s like a deity in that space, and another guy called Soren Morgensen.”

    “And a whole team of scientists did that, and those scientists started speaking up and saying you got to discontinue this vaccine. And their careers, Gates made sure their careers were destroyed.”

    All of which left RFJ Jr with no doubts:

    “So that’s when I understood that he actually understands what he is doing. And, you know, this is not just him being hypnotized. He knows that this is wrong because he’s this science was indisputable. And it really made me wonder about what his motivations are.”

    Watch the full conversation here:

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    h/t Camus

    Tyler Durden
    Sat, 12/28/2024 – 19:15

  • Bankrupt Big Lots Strikes Sales Deal, Preserves Brand Name
    Bankrupt Big Lots Strikes Sales Deal, Preserves Brand Name

    Authored by Naveen Athrappully via The Epoch Times,

    Big Lots finalized a deal that preserved the brand name and prevented the discount retail chain from entirely going under.

    Ohio-based Big Lots announced it filed for Chapter 11 bankruptcy earlier this year, citing economic pressures. The company tried to sell its business to Nexus Capital Management but failed to strike a deal. On Dec. 27, Big Lots announced a sales transaction with Gordon Brothers Retail Partners.

    As part of the agreement, North Carolina-based Variety Wholesalers will acquire around 200 to 400 Big Lots stores “which it plans to operate under the Big Lots brand.”

    Variety, which owns more than 400 retail stores in the Southeast and Mid-Atlantic United States, may also “employ Big Lots associates at the acquired stores and distribution centers, as well as certain corporate associates.”

    Bruce Thorn, chief executive officer of Big Lots, said the sale to Gordon Brothers and transfer to Variety is a “favorable and significant achievement.”

    “This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate, and ensure continuity of the Big Lots brand,” he said.

    The agreement now needs to be approved by the bankruptcy court and must undergo other closing conditions.

    Big Lots operates more than 1,400 stores across 48 states in the United States. While filing for bankruptcy, the company cited issues like inflation, saying that rising prices have changed the spending behaviors of customers.

    “The prevailing economic trends have been particularly challenging to Big Lots, as its core customers curbed their discretionary spending on the home and seasonal product categories that represent a significant portion of the company’s revenue,” it said in September.

    Big Lots listed assets and liabilities in the range of $1 billion to $10 billion, owing money to 5,001 to 10,000 creditors. The company’s shares have crashed by more than 99 percent this year.

    Last week, the company said it intends to kick off a “going out of business” sale at its stores.

    Bankruptcies on the Rise

    Multiple American retail chains have entered bankruptcy over the past year. In June, apparel retailer Bob’s Stores went bankrupt and decided to sell all its stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island.

    In July, furniture retailer Conn’s announced filing for bankruptcy, closing down all its 553 stores nationwide following a sales slowdown over past years.

    New Jersey-based Party City filed for Chapter 11 bankruptcy in December, and said it was preparing to close down almost 700 stores across the country. This was the second time in two years that the company filed for bankruptcy.

    According to an S&P report, there have been 634 U.S. corporate bankruptcy filings in 2024, up to the end of November, with the figure on track to potentially hit a new 14-year annual high. S&P bankruptcy numbers only take into account large companies that exceed certain asset and liability thresholds.

    The jump in bankruptcies comes as businesses face challenges like inflation, elevated interest rates, and changing consumer spending patterns, it said.

    “While the US Federal Reserve has begun lowering its benchmark interest rate from a 20-year high, the pace of further cuts may slow in 2025 amid challenges posed by persistent inflation and potential tariffs implemented by President-elect Donald Trump,” said the report.

    “However, Trump’s election victory in November did provide an initial boost to stock markets and investor risk appetite.”

    The American Bankruptcy Institute reveals that overall commercial bankruptcy filings fell 1 percent yearly in November, according to a Dec. 4 statement.

    Michael Hunter, vice president of bankruptcy filing data provider Epiq AACER, attributed this small decline to fewer business days and the holiday season.

    ABI Executive Director Amy Quackenboss said that “elevated interest rates, tougher lending terms, and increased geopolitical tensions continue to impact the balance sheets of many struggling businesses and families.”

    “While still below the levels recorded prior to the pandemic, the steady growth in filings reflects the growing financial challenges faced by distressed companies and consumers.”

    Tyler Durden
    Sat, 12/28/2024 – 18:40

  • Fani To Be Slapped With Subpoenas After Court Rules Lawmakers Can Demand Answers
    Fani To Be Slapped With Subpoenas After Court Rules Lawmakers Can Demand Answers

    Lawmakers in Georgia have been granted the authority to serve subpoenas on Fulton County DA Fani Willis as part of an inquiry into her prosecution of President-elect Donald Trump.

    In a Monday ruling revealed later in the week, Fulton County Superior Court Judge Shukura Ingram allowed the Georgia Senate to compel Willis’s testimony – giving her until Jan. 13 to argue that the lawmakers’ demands are overly broad, or seek confidential information.

    Willis plans to appeal the ruling, the Epoch Times reports.

    “We believe the ruling is wrong and will appeal,” said Willis’s attorney, former Georgia Gov. Roy Barnes.

    Earlier this year, a state Senate committee was formed over allegations of misconduct by Willis during her prosecution of Trump and his co-defendants (one of whom revealed that Fani hired her lover to help with her prosecution). In August, the committee subpoenaed Willis, who then skipped a September hearing, delaying the inquiry. Her attorney argued that the committee’s subpoenas are overly broad and lack legitimate legislative purpose – and that they seek confidential information.

    Republican state Senator Greg Dolezal applauded the ruling.

    “Judge Ingram has ruled the state Senate does indeed have the power to subpoena D.A. Fani Willis,” Dolezal wrote on X. “We’ll see you soon, Madam D.A.“

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    As the Epoch Times notes further, scrutiny of Willis intensified after the Georgia Court of Appeals ruled earlier in December to disqualify her from the Trump case. The split 2–1 decision cited an “appearance of impropriety” stemming from her romantic relationship with special prosecutor Nathan Wade. While both Willis and Wade have admitted to the relationship, they said it began after Wade was hired and ended before Trump’s indictment. Willis’s office filed a notice of intent to ask the Georgia Supreme Court to review the decision.

    This came after earlier rulings, including one by Judge Scott McAfee, who described Willis’s actions as a “tremendous lapse in judgment” and allowed her to continue prosecuting Trump if Wade stepped aside—a condition that was met.

    The Senate committee’s investigation also highlights concerns over Willis’s hiring of Wade, which legislators allege created a “clear conflict of interest” and defrauded taxpayers.

    Following the court of appeals’ decision to disqualify Willis, Trump proclaimed the election case “dead” and alleged corruption within her office.

    Tyler Durden
    Sat, 12/28/2024 – 18:05

  • Amazon Slammed For Editing Classic Christmas Movie
    Amazon Slammed For Editing Classic Christmas Movie

    Authored by Dmytro “Henry” Aleksandrov via Headline USA,

    Conservatives recently criticized Amazon for editing the iconic Christmas movie It’s a Wonderful Life, removing the crucial part of Frank Capra’s work.

    In the movie, the main character, George Bailey, played by Jimmy Stewart, tells his guardian angel, Clarence, that it would’ve been better for everyone if he had never been born. After that, Clarence shows him the dark and depressing world without Bailey to show him that his life matters and positively affects many people. After that, Bailey abandons the idea of committing suicide and returns home to his family and friends.

    In one of the movie versions available on Amazon Prime for streaming, the part where Clarence shows Bailey the world without him was removed, eliminating the film’s entire point.

    Breitbart reported that the abridged version of the movie was presented because the suicide scene was “too dark.”

    The news source also revealed that the movie “has been beset with copyright issues after Capra apparently used the short story The Greatest Gift as the basis for the removed scene and never credited its writer for its use.”

    “If you want to know what’s wrong with the world, Prime Video has an ‘abridged’ version of It’s a Wonderful Life that removes THE ENTIRE POTTERSVILLE SCENE where George sees life if he wasn’t born. That’s all that abridged. The best, most crucial part of the movie. Just. Wow,” Germain Lussier of Gismodo wrote. “Just beyond awful.”

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    Lussier then wrote that Amazon Prime offered both black-and-white and colored full versions of the movie, noting that the fact that this edited version exists makes watching it “weird.”

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    “It’s a Wonderful Life has been reduced to a Not-So-Wonderful Hour. It may be because Congress continues to daisy-chain extensions of copyright periods. As Clarence said,  ‘Strange, isn’t it? Each man’s life touches so many other lives.’ The same can be said of copyrights,” law professor and legal analyst Jonathan Turley wrote.

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    Self-described “grumpy American cartoonist” George Alexopoulos also mocked Amazon by remembering the ultra-woke Lord of the Rings series, The Rings of Power.

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    “100% unacceptable. That’s like making a Lord of the Rings prequel starring Galadriel as an action hero,” he wrote.

    Tyler Durden
    Sat, 12/28/2024 – 17:30

  • US Says Putin Treating North Korean Troops As 'Expendable' Amid Mass Casualties
    US Says Putin Treating North Korean Troops As ‘Expendable’ Amid Mass Casualties

    The White House has said Moscow is treating its North Korean partner forces as “expendable” in its war against Ukraine, and following South Korean and Pentagon intelligence assessments which say North Korea has suffered at least 1,100 casualties so far

    National Security communications adviser John Kirby said in a Friday press briefing, “It is clear that Russian and North Korean military leaders are treating these troops as expendable and ordering them on hopeless assaults against Ukrainian defenses.”

    Getty Images

    “These North Korean soldiers appear to be highly indoctrinated, pushing attacks even when it is clear that those attacks are futile,” he added.

    Kirby said there have been reports of North Korean troops committing suicide due to the battlefield conditions and hopelessness of the situation. He presented this as anecdotal and tangential evidence pointing to massive losses, but the assertion could very well be wartime propaganda.

    “We also have reports of North Korean soldiers taking their own lives rather than surrendering to Ukrainian forces, likely out of fear of reprisal against their families in North Korea in the event that they’re captured,” Kirby asserted.

    On Friday Kiev forces claimed to have actually captured North Korean troops on the battlefield. These foreign troops are believed mainly deployed in Russia’s Kursk region, to assist Moscow in regaining its lost territory.

    “Today we received reports on several soldiers from North Korea, our warriors managed to capture them. But they were seriously wounded and could not be resuscitated,” Zelensky had said in an address.

    “This is one of the manifestations of the madness dictatorships are capable of,” he continued. “The Korean nation should not lose its people in the battles in Europe.”

    Zelensky also called on China to exert pressure on Kim Jong-Un to abandon the deployment in the Ukraine-Russia conflict. Beijing, however, has remained mum on the issue.

    Kirby in his briefing had also vouched for recent South Korean intelligence figures: “Our estimate is that, to date, they have suffered more than 1,000 killed or wounded in this particular fighting in just the past week of them fighting on the front lines,” he said.

    Tyler Durden
    Sat, 12/28/2024 – 16:55

  • There Is No Pardoning The Biden Administration
    There Is No Pardoning The Biden Administration

    Authored by Eric Utter via AmericanThinker.com,

    This is going to be controversial to many, but I am going to tell it like I see it, so damn the torpedoes, full speed ahead.

    The Biden administration, set up as it was by the Obama administration, has been a clear and present danger to the United States of America. In almost every way imaginable.

    It has tanked an economy that otherwise was on the way to (an almost inevitable) rapid, post-pandemic recovery, causing pain to countless American families.

    Speaking of the pandemic, its ludicrous lockdown policy, and a host of other counterproductive and destructive policies, caused immeasurable physical, mental, and emotional harm to millions of people—and summarily destroyed many small businesses, particularly restaurants. It fostered a growing oligarchy by ensuring certain government-approved giant corporations prospered while the small businesses were devastated. It nourished this budding fascism even as it took every opportunity to baselessly label Donald Trump and his supporters as “fascists.”

    Similarly, it incessantly talked of “saving our democracy” even as it tried to destroy it by pushing for the end of the Electoral College and the filibuster, supporting the advent of congressional representation for Washington, D.C., urging the granting of statehood to Puerto Rico, and, most egregiously, going to any and all lengths to get rid of its chief political opponent, Donald J. Trump. It is still doing all it can to obstruct the will of the people, as was evident in its post-election auctioning off materials for the border wall for pennies on the dollar, as well as in placing various other roadblocks in front of the incoming administration. (In other words, it is doing everything possible to counteract the will of the people. Doesn’t sound very democratic to me.) Leaving the border wide open for years has created the greatest current—and latent—security threat the nation has ever faced. Period. 

    In colluding with the social media giants to suppress the Hunter Biden laptop story, or with foreign agents to concoct the Russian-collusion hoax, Democrats have shown, time and again, they will do anything to attain and retain power.

    The Biden administration made that abundantly clear…seven ways from Sunday.

    In its constant use of lawfare and its “accountability for thee but not for me” perversion of the justice system, it has created a two-tiered system of justice that is deeply anti-American and monstrously pernicious.

    And that is troubling—and frightening—to most Americans.

    The Biden administration has helped make a mockery of common sense—if not of reality itself—with its official inability to define what a woman is, and to simultaneously approve of “gender reassignment” surgeries and procedures (even for the very young)…and biological men in women’s locker-rooms, bathrooms, and on their sports teams. It has done grievous damage to our culture—and unity—by endlessly promoting the absurd ideologies of DEI and CRT.

    Its unwillingness to ever be available, accountable, or transparent is only matched by its overwhelming desire and propensity to lie to the very citizens it is supposed to serve. Which we have seen in its attempts to protect itself, smear Trump and his supporters, give a pass to the Chinese spy balloon, and in its flat-out refusal to tell Americans anything resembling the truth about the drone fiasco that has been ongoing for over a month. The non-answers and gibberish that has spewed from the mouths of “government officials,” has been truly mind-blowing…on this and numerous other matters.

    As if all of this weren’t enough, its foreign policy may yet lead to our destruction. It essentially surrendered to goat-herders in Afghanistan, leaving behind billions of dollars of high-end military equipment, more than a dozen dead Americans, and our reputation and dignity. It has bizarrely coddled Iran while playing hardball with Israel, the only liberal democracy in the Middle East. And it seems almost determined to get us directly involved in a shooting war with Russia, if not a nuclear one. 

    To me, this is far worse than incompetence, more than malfeasance. 

    To me, it spells T-R-E-A-S-O-N. 

    Were this an age of reason, what other conclusion could be reached?

    Tyler Durden
    Sat, 12/28/2024 – 16:20

  • Mexico Develops App To Aid Its Citizens In US Facing Deportation
    Mexico Develops App To Aid Its Citizens In US Facing Deportation

    Authored by Rudy Blalock via The Epoch Times,

    Mexico is developing a new cellphone app for its citizens who are in the United States illegally so they can notify their family members and the nearest Mexican consulate if they are facing deportation, according to a Mexican official on Friday.

    The move comes in response to potential mass deportations of illegal immigrants in the United States under the incoming Trump administration.

    Juan Ramón de la Fuente, Mexico’s secretary of foreign affairs, said the app is currently in small-scale testing, and it “appears to be working very well.”

    De la Fuente described it as a “panic button” in a statement to The Associated Press.

    “In case you find yourself in a situation where detention [by U.S. immigration authorities] is imminent, you push the alert button, and that sends a signal to the nearest consulate,” he said.

    De la Fuente did not say whether the app includes a feature to cancel an alert if detention does not occur.

    In addition to the app, the Mexican government has established a 24-hour call center to address questions from its citizens illegally in the United States or those who are unsure of their status. Mexico has also bolstered its consular staff and legal aid resources to assist illegal immigrants in navigating the deportation process.

    According to Mexican government estimates, there are approximately 11.5 million migrants with some form of legal residency in the United States and 4.8 million who are there illegally.

    The app is expected to be fully launched in January, coinciding with President-elect Donald Trump’s inauguration on Jan. 20. During his campaigning, Trump repeatedly said he would implement mass deportations once back in office.

    The development also comes amid ongoing discussions between Trump and Mexican President Claudia Sheinbaum regarding immigration policies. Trump recently claimed a victory in stopping illegal immigration through Mexico following a conversation with Sheinbaum.

    Trump stated on his Truth Social account that Sheinbaum “agreed to stop Migration through Mexico.”

    Sheinbaum’s own social media post suggested a different perspective, stating, “We reiterate that Mexico’s position is not to close borders but to build bridges between governments and between peoples.”

    Sheinbaum further said that Mexico is already addressing migrant caravans, saying, “I told him the caravans are not reaching the northern (U.S.) border, because Mexico is taking care of them.”

    The conversation between the two leaders occurred shortly after Trump threatened to impose new tariffs on Canada and Mexico as part of his strategy to combat illegal immigration and drug trafficking. Trump described the potential tariffs as “effectively closing our Southern Border.”

    Citing data from the U.S. Customs and Border Protection, AP reports that arrivals at the U.S.-Mexico border have dropped 40 percent from an all-time high in December, largely attributed to increased Mexican vigilance around rail yards and highway checkpoints.

    Tyler Durden
    Sat, 12/28/2024 – 15:45

  • Trump Asks Supreme Court To Pause TikTok Ban So He Can Negotiate Resolution
    Trump Asks Supreme Court To Pause TikTok Ban So He Can Negotiate Resolution

    Authored by Sam Dorman via The Epoch Times,

    President-elect Donald Trump is asking the Supreme Court to block a law that could ban TikTok within the United States, stating that he would like to pursue negotiations to resolve some of the issues involved and salvage the platform.

    The Supreme Court is expected to hear oral arguments over the law on Jan. 10, just nine days before the deadline for TikTok’s parent company to either divest from the platform in the United States or face an effective ban.

    That Jan. 19 deadline is also just one day before Trump is expected to be inaugurated for his second term as president.

    “President Trump alone possesses the consummate dealmaking expertise, the electoral mandate, and the political will to negotiate a resolution to save the platform while addressing the national security concerns,” his Dec. 27 amicus brief read.

    Trump’s brief underscored the importance of the timing and urged the court to give him more of an opportunity to handle the issue as chief executive.

    “This timing binds the hands of the incoming Administration on a significant issue of national security and foreign policy, and thus it raises significant questions under Article II,” the brief read.

    Article II refers to the section of the constitution vesting executive authority with the president. Trump’s brief said the law raised questions about legislative encroachment on executive authority.

    “The Executive, not Congress, is primarily charged with responsibility for the United States’ national security, its foreign policy, and its strategic relationship with its geopolitical rivals,” his brief read.

    The law in question was passed with bipartisan support and signed by President Joe Biden earlier this year. TikTok challenged the law in federal court, and the U.S. Court of Appeals for the D.C. Circuit held that it satisfied a high level of scrutiny under the First Amendment.

    Although the Supreme Court has decided to take up the First Amendment issue, Trump said he took no position on the merits of the underlying dispute.

    He did, however, raise concern about the impact of the law on TikTok’s 170 million users and indicated that upholding it could create a “slippery slope toward global government censorship of social-media speech.”

    Trump’s brief took issue with how the law directed the president to work through an interagency process “instead of exercising his sole discretion over the deliberative processes of the Executive Branch.”

    In asking the Supreme Court to halt the law, TikTok similarly cited Trump’s incoming administration and the potential for his intervention.

    On the day of TikTok’s application to the Supreme Court on Dec. 16, Trump gave a press conference in which he expressed sympathy for the platform.

    “We’ll take a look at TikTok,” he said, noting that he had a “warm spot” in his heart for the platform. He added that TikTok had an effect on the support he received from young people in the election.

    TikTok had asked the D.C. Circuit to halt the law but was rejected.

    “The petitioners have not identified any case in which a court, after rejecting a constitutional challenge to an Act of Congress, has enjoined the Act from going into effect while review is sought in the Supreme Court,” a December 13 order from the court reads.

    Attorney General Merrick Garland, whom TikTok sued in the D.C. Circuit and is the respondent at the Supreme Court, defended the law. In a Dec. 27 filing, the Department of Justice said the law “addresses the serious threats to national security posed by the Chinese government’s control of TikTok, a platform that harvests sensitive data about tens of millions of Americans and would be a potent tool for covert influence operations by a foreign adversary.”

    The case drew many amicus briefs from organizations, including the Cato Institute and the American Civil Liberties Union. Both of those supported TikTok. A group of former national security officials backed the D.C. Circuit’s decision.

    Tyler Durden
    Sat, 12/28/2024 – 14:35

  • MSM Pounces As 'MAGA Vs Technocrats' H1-Bomb Explodes Ahead Of Trump Inauguration
    MSM Pounces As ‘MAGA Vs Technocrats’ H1-Bomb Explodes Ahead Of Trump Inauguration

    Update (1400ET): President-elect Trump has broken his silence on H1B-gate, appearing to agree with Elon Musk in support of H-1B visas for skilled workers in the U.S., as the right spars on the ongoing immigration debate.

    “I’ve always liked the visas, I have always been in favor of the visas. That’s why we have them,” Trump told the New York Post Saturday.

    Trump said that he recognizes the visas on his properties, saying, “I’ve been a believer in H-1B. I have used it many times. It’s a great program.”

    And cue the MSM…

    *  *  *

    By now, unless you were living under a rock or so focused on your kids opening their gifts you forgot to check your phone for news, you’ll be aware of what the mainstream media is gloatingly calling a ‘civil war’ breaking out between the MAGA right of Trump’s base and the Musk-ian middle over the topic of ‘legal’ immigration – specifically H1Bs.

    As we detailed fully here, not all immigration is bad, but focus on Americans first. To over-simplify the issues (well maybe not):

    • There is a contingent of MAGA that wants a total shutdown of migrant activity and a moratorium on work visas.  

    • On the other side, some in MAGA want to end illegal immigration while supporting legal immigration of skilled workers.

    • The threat of a complete shut down of all immigration, including skilled workers, has the tech industry concerned. 

    The tensions escalated (and were obviously amplified by the media) after Elon and Vivek turned the rhetoric dial up to ’11’ with comments about “war” and “go fucking yourself” as well as implicit reflections on the lack of work culture among young American workers – none of which which plays well against the longstanding DEI backdrop of white students, and white employees, being passed over for non-whites with similar scores and credentials.

    As ‘sundance’ wrote at The Last Refuge:

    It always appeared the MAGA alignment with Silicon Valley would not be an issue until the interests of the billionaire tech team came into conflict with the MAGA base.  I did not anticipate the fracture being so fast, nor did I anticipate immigration would be the trigger.  However, H1B visa issuance is apparently a key part of the Silicon Valley business model.

    That said, several pragmatic aspects of the discussion are now being lost amid a very toxic shouting match that has begun.

    We would agree – a lot of nuance has been lost in the furor.

    Former RFK Jr. running mate Nicole Shanahan wrote a lengthy statement on X (but this introduction nailed it):

    “Having lived in Silicon Valley for 20+ years and founded and sold an AI company, I’ve seen firsthand how we rely on H-1B to fill grueling, unglamorous coding jobs. These jobs are essential, and we need capable people doing them. But the system needs an overhaul.”

    Overhaul indeed…

    While Silicon Valley may indeed be short of coders, we find it hard to believe America is suffering enough of a shortage of Golf Instructors to warrant H1Bs…

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    …or math teachers…

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    Of course, none of this is new.

    Here’s Trump in March 2016:

    “Megyn Kelly asked about highly-skilled immigration. The H- 1B program is neither high-skilled nor immigration: these are temporary foreign workers, imported from abroad, for the explicit purpose of substituting for American workers at lower pay. I remain totally committed to eliminating rampant, widespread H-1B abuse and ending outrageous practices such as those that occurred at Disney in Florida when Americans were forced to train their foreign replacements. I will end forever the use of the H-1 B as a cheap labor program, and institute an absolute requirement to hire American workers first for every visa and immigration program. No exceptions.”

    …and remember this from 2020…

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    …to which Musk responded at the time…

    But H1B denial rates surged under Trump’s last term…

    So far, Jeff Bezos and Mark Zuckerberg have been quiet on the subject – perhaps this chart explains why…

    May we humbly suggest there is a balance between Biden’s 2% denial rate (basically no denial at all – even golf instructors and math teachers) and Trump’s 24% denial (show us your special skills and here’s the red carpet, otherwise ‘nope’).

    The Biden administration reversed some restrictive policies introduced during Trump’s administration, though recent proposed policies have become more restrictive as well…

    Big Tech and IT outsourcing now receive nearly equal volumes of H-1B approvals, a shift from 2017-2018 landscape where IT outsourcing dominated. Big Tech companies have ramped up H-1B sponsorships as they have grown their US headcount significantly over the past decade. Since 2017-18, when IT outsourcing firms led in H-1B approvals, the landscape has shifted. As of 2024, Big Tech and IT outsourcing now receive nearly equal volumes of H-1B approvals.

    Finally, while the mainstream media is more than happy to perpetuate this splintering among Trump’s supporters, we suggest getting worked up now is futile since the Biden administration has already enacted more restrictive rules which are due to be put in place in early 2025.

    “U.S. Citizenship and Immigration Services [USCIS] is committed to the president’s goal of restoring faith in the legal immigration system and attracting global talent,” said a USCIS spokesperson.

    “USCIS will continue to promote policies and procedures that attract the best international talent, expand economic prosperity, maintain America’s competitive edge in STEM fields and uphold the country’s promise as a nation of welcome and possibility with fairness, integrity and respect for all we serve.”

    However, as we noted previously, as usual, whenever there is a divisive issue causing internal conflict and debate among conservative groups there are doom mongers that dance around the edges and act as if the entire movement is suddenly fracturing.  Conservatives have never agreed on solutions – This is normal. 

    They are not a hive mind like the political left, which is a good thing.  Such debates are a sign of a healthy political process.     

    What we really have here is an artificially created either/or scenario; skilled labor shortages should be treated as a “why not do both” scenario.

    In the long term, the national education system needs to be completely overhauled and a focus on practical skills and advanced STEM has to be championed.  Incentives to lure Americans back into science and engineering fields may be necessary. 

    The US can do both:  Cut immigration down to only the best and brightest, or down to labor pools with proven shortages, while also encouraging native-born American interest in such fields and creating a domestic pool of skilled assets.

    Tyler Durden
    Sat, 12/28/2024 – 14:00

  • Russia Surrounds Vital Ukrainian Stronghold After Devastating Power Grid Attack
    Russia Surrounds Vital Ukrainian Stronghold After Devastating Power Grid Attack

    Ukraine is facing a long period of rolling blackouts this winter after Russia’s “Christmas attack” on the country’s energy infrastructure.  Ukraine reports at least 70 ballistic missiles and hundreds of drones were involved in the onslaught which has left at least 50% of Ukrainians without power (accurate reports on true grid damages are impossible to come by and Ukraine keeps such information censored).   

    The usefulness of targeting the power grid is undeniable – Any attempt to establish a reliable manufacturing base in western Ukraine to produce armaments will be impossible.  Regular scheduled blackouts are now in effect in many parts of Ukraine in order to preserve power resources.  Energy Research Center Director Oleksandr Kharchenko says electricity consumption restrictions in Ukraine may remain in effect for another 2-3 years, and that’s if the war ends soon.

    Another strategic advantage of grid attacks is the use of cold weather conditions to force civilians out of certain energy weak population centers, making it easier to bombard those areas later without producing heavy casualties of non-combatants.

    The large scale missile strikes are dominating the news feeds, while Russian advancements on the eastern front are barely reported.  

    Southwest of the key city of Pokrovsk, Putin’s forces are currently surrounding another “linchpin” town called Velyka Novosilka.  The area is considered a gateway to the Dnipropetrovsk Oblast region and its fall would give Russia easier access to central Ukraine due to thinner defensive lines.  The town is currently surrounded on at least three sides and experts suggest Ukraine is unlikely to order their troops to retreat due to the importance of the location.  Kyiv now fears that the soldiers in the area will soon be encircled.

    Velyka Novosilka is vulnerable to Russian attack after Ukraine retreated from Vuhledar, roughly 30 kilometers [18 miles] east of Velyka Novosilka.  The Ukrainians originally claimed that Vuhledar was strategically “unimportant”, but the loss has proven to be disastrous. 

    Russian gains are expected to slow as winter weather takes hold, but so far there have been no signs of relent.  Velyka Novosilka will fall within weeks, and Pokrovsk is likely to fall within the next couple of months.  The capture of these two vital strongholds will give Russia near total control of the Donbas and Eastern Ukraine.  It is not known if the Kremlin intends to continue pressing to the west, or if they only plan to take control of the East and annex the region in a settlement with Trump and the US. 

    A lack of manpower has been blamed for Ukraine’s increasing strategic failures.    

    Donald Trump continues to call for an expedient peace plan which includes Ukraine formally giving up some territory to the Russians.  Vladimir Zelensky has recently admitted that it is unlikely that Ukraine will ever be able to gain back the land lost to Russian forces.   

    Tyler Durden
    Sat, 12/28/2024 – 13:25

  • Court Blocks Biden From Selling Off Portions Of Southern Border Wall
    Court Blocks Biden From Selling Off Portions Of Southern Border Wall

    Authored by Naveen Athrappully via The Epoch Times,

    The Biden administration has been instructed by a federal judge not to sell off portions of the U.S.–Mexico border wall, which would allow President-elect Donald Trump to use these materials.

    On Dec. 17, the State of Texas filed a lawsuit at the U.S. District Court, Southern District of Texas McAllen Division after reports of the Biden administration selling segments of the border wall along the U.S.–Mexico Border.

    Texas Attorney General Ken Paxton said he secured a victory in the case after a hearing on Friday.

    The Biden administration agreed to a court order preventing the federal government from “disposing of any further border wall materials over the next 30 days—allowing President Trump to use those materials as he sees fit,” Paxton’s office said.

    If the order is violated, the court has the authority to enforce it.

    “This follows our major victory forcing [President Joe] Biden to build the wall, and we will hold his Administration accountable for illegally subverting our Nation’s border security until their very last day in power, especially where their actions are clearly motivated by a desire to thwart President-elect Trump’s immigration agenda,” Paxton said in a Dec. 27 statement.

    Congress had dedicated around $1.4 billion to build fencing along the southern border as part of Trump’s bid to counter illegal immigration. After Biden came to power, he issued an executive order ceasing wall construction and asked the Department of Homeland Security to use the funds for other purposes.

    In May 2024, Attorney General Paxton secured a court order forcing the Biden administration to spend the funds on the border wall. Selling off portions of the border wall that was bought using funds allocated for the purpose would be deemed a violation of this order.

    The Dec. 17 lawsuit was filed after reports that the federal government “may be auctioning off up to half a mile per day of border wall sections for a mere fraction of the original purchase cost,” Paxton’s office said. “In some cases, the government is allegedly listing entire wall panel sections for sale at a starting bid of just $5.”

    Border Security

    During a Dec. 16 press conference, Trump said he spoke with officials in Texas regarding reports of the wall parts auction.

    “We’re going to spend hundreds of millions of dollars more on building the same wall we already have,” Trump said. “It’s almost a criminal act.”

    The president-elect said he had spoken with Paxton about securing a restraining order against such actions. “I’m asking today, Joe Biden, to please stop selling the wall,” Trump said.

    Texas Lt. Gov. Dan Patrick said selling the border wall was like “treating our national security as if it’s a yard sale,” according to a Dec. 16 X post. “This isn’t just a fight against the incoming president—it’s a fight against the American people.”

    Last year, the Biden administration allowed the construction of 20 miles of the southern border, with the president saying he had no choice in the matter but to allow the allocated federal funds to be used for the project.

    “The money was appropriated for the border wall. I tried to get them to reappropriate, to redirect that money,” Biden said in an address. When asked whether the border wall was effective, the president replied, “no.”

    In 2020, the Department of Homeland Security said that the border wall resulted in a decline in incidents of illegal crossings, smuggling of drugs, and human smuggling.

    Earlier this year, Melissa Dalton, the assistant secretary of defense for Homeland Defense and Hemispheric Affairs, told lawmakers that “a border barrier can help mitigate the flow” of illegal immigrants.

    Most Americans also favor building a U.S.–Mexico border wall. A Monmouth University poll released in February showed that 58 percent of respondents supported such a measure, breaking the previous high of 48 percent in 2015.

    Tyler Durden
    Sat, 12/28/2024 – 12:50

  • Former State Department Official David Asher: Americans "Will Soon Learn" COVID Origins Truth
    Former State Department Official David Asher: Americans “Will Soon Learn” COVID Origins Truth

    Revelations that senior US intelligence officials in the early days of the virus pandemic suppressed research indicating a Chinese lab leak as the origin of Covid-19 surfaced in a new Wall Street Journal report titled “Behind Closed Doors: The Spy-World Scientists Who Argued Covid Was a Lab Leak” late this week. 

    The investigation by WSJ’s Michael Gordon and Warren Strobel shows the disagreements within the intelligence community over Covid origins…  

    But an investigation by The Wall Street Journal shows that the disagreements among intelligence experts over what should be included in the report ran deeper than is publicly known. Nor were the FBI scientists the only ones who believed that the intelligence directorate’s review didn’t tell the whole story.

    Three scientists at the National Center for Medical Intelligence, part of the Pentagon’s Defense Intelligence Agency, conducted a scientific study that concluded that Covid-19 was manipulated in a laboratory in a risky research effort. But that analysis was at odds with the assessment of their parent agency, the Defense Intelligence Agency, and wasn’t incorporated in the report presented to Biden. -WSJ 

    Specifically, who decided to exclude input from the Defense Department and the FBI—the only agency to conclude with “moderate confidence” that a lab leak was the likely origin—from the August 2021 briefing to President Biden and the subsequent official federal conclusion that Covid most likely originated naturally?

    David Asher, a senior fellow at the Hudson Institute and former head of State Department investigations into Covid origins, joined Vince Coglianese, host of WMAL’s “The Vince Coglianese Show,” on Friday evening to discuss the cover-up of Covid’s origins during the Biden administration.

    “We can confirm based on public commercial business records with Chinese government businesses were controlled by the Chinese intelligence service. I mean, the stuff about Hunter and James Biden, you know, his son and brother being tied to CEFC, a company that was infamously associated with the Ministry of State Security in China … I think it has a lot to do with it, and that needs to be investigated as well. I mean, there’s no logical reason why Biden would not continue the Covid investigation that I started. He was briefed on it and he buried, it” Asher said. 

    Asher continued, “The Chinese created Covid. It was not Fauci – he did contribute science, technology, and US taxpayer dollars to it. So did the US State Department and United States Agency for International Development provided huge amounts of money to the Chinese for investigating bat coronavirus viruses and then doing in effect gain of function type research in China.” 

    “We have a Deep State that is so out of control…” Asher emphasized. 

    He continued, “We have so much to do in the second Trump Administration to uncover the origin of Covid, assess the costs culpability and responsibility of the Chinese, and then go after our own government Deep State apparatus that covered this thing up with the Chinese in their own sort of parallel universe of a premeditated cover-up.” 

    “We had a senior scientist named Adrienne Keen who used to brief people like me at the State Department. She didn’t tell us that she was also working for the World Health Organization, apparently at the time, as a contractor. I mean, like, I can’t start the level of which this is crazy. I mean, the FBI’s investigation clearly indicated that this thing came out of a lab based on a suspected animal accident,” the former State Department official said. 

    He noted that the American people “will soon learn” the truth about the origins of Covid.

    “Remember Biden Declassified all the Covid intelligence, but nothing was actually put out there. There’s a lot of intelligence that John Ratcliffe will get out the door very very soon,” Asher said. 

    He added, “I’ve met with some of the NSEC team already about it. I know that Senator Paul, who is up on The Hill, will attack this with a bulldozer and machine gun if necessary to get to the bottom of this. The FBI just recently put out with its spokesman on the record that they maintain their investigation, and I wouldn’t be surprised that there might even be criminal charges against some of these people involved – probably not Fauci himself because he’ll get away forever with anything – but I wouldn’t be surprised if Biden pardons him preemptively and probably pardons his brother preemptively. His brother did not create Covid but his brother was getting millions of dollars in money from the Chinese, which is why Biden didn’t want to investigate the origin of Covid because it would get in the way of that uh relationship.” 

    Asher said, “The FBI is sitting on a huge case file of over 200 people that they ran a criminal investigation in effect … and maybe we’re going to see criminal charges because somebody in the US government needs to be blamed” for Covid. 

    Separately on X, Asher wrote:

    “This was why I told people that we at State—via “deep State”—were partially to blame for the coverup. It wasn’t the team I advised, certainly, leading the investigation, not Secretary Pompeo. It was a certain senior official in charge of “arms control” and his minions, including Keene. They were the ones who warned us repeatedly we were opening something akin to a Pandora’s box, which would blow up in our faces. I made it clear whatever is inside the box, I didn’t care if it blew up in THEIR faces—We needed to get to the bottom of what caused COVID, why the Chinese were covering it up and facilitating its release, and why NIH and a bunch of scientists they funded were in on the Fauci organized US coverup. Scientific Wuhangate continues but will be getting exposed under Donald Trump II. Much more to come, I hope.” 

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

    In another X post, he said, “We all need to get ready to help President Trump make America truly Great again by holding the ChiComms accountable for mass murder and Fauci and “scientific” associates as accessories of the crime. I’m now triple deep black MAGA on COVID, fentanyl, and making China pay.” 

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    Asher also noted on X, “President Trump absolutely should pull the plug on the WHO. It’s a worse than useless organization. It totally failed us in the biggest public health crisis modern world history. It’s a disgrace and a disservice to civilization.” 

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

    And this…

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

    As well as, let’s not forget about the documentary “Thank You, Dr. Fauci,” which provides the American people with an understanding of Covid origins… 

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

    The American people are set to receive a truth bomb about Covid origins—something Zero Hedge readers have been well aware of since January 2020 (see: here).

    Tyler Durden
    Sat, 12/28/2024 – 12:15

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Dec 28

Today’s News 28th December 2024

  • David Stockman On The Syrian Fiasco… A Case Of The "Empire First" Folly In Spades
    David Stockman On The Syrian Fiasco… A Case Of The “Empire First” Folly In Spades

    Authored by David Stockman via InternationalMan.com,

    If there was ever a moment that laid bare the utter stupidity and futility of Washington’s Empire First policy it surely emerged in the smoking ruins of Syria. The latter was the desultory culmination of Washington’s 13-years-long effort to destroy the legitimate government of Syria on the purported grounds that Assad was a brutal tyrant and plunderer of the country’s paltry wealth.

    The fact is, he probably was just that. And might well have been among the worst of the dozens of tyrants who today oppress their citizens in nations large and small around the world. But then again, did God Almighty anoint Washington as some kind of planetary Good Shepard charged with bringing just and kind rule to all the peoples of the planet?

    We think not. Indeed, maintenance of a sustainable, prosperous, free constitutional Republic requires fidelity to the opposite— a regime of small, solvent government including on the Pentagon side of the Potomac. Accordingly, the sole end of foreign policy should be safeguarding the security and liberty of the homeland, not proctoring the governing etiquette of rulers halfway way around the globe that pose no military threat whatsoever to America’s homeland security.

    Yet Washington has seen fit during the last decade to pump-in upwards of $40 billion of overt and covert military aid, economic support and humanitarian assistance to a plethora of opposition Syrian forces for no discernible reason of homeland security. To the contrary, the expenditure of all this treasure and political capital was designed for no purpose other than to effect Regime Change in Damascus and to eject the Assad government from its control over the what were the remaining white areas of the Syrian map below as of just a few weeks back.

    Yet the color coded regions all around what is now the vacuum of Assad’s fall tell you all you need to know about the sheer folly of this enterprise and why in truth Washington has mid-wifed yet another failed state; and has done so once again on the pretext of fighting terrorism—this time the ragged band of ISIS jihadists who briefly planted their black flags and brutal rule in the dusty towns of the Upper Euphrates centered in Raqqah, as roughly depicted by the purple area of the map.

    The truth, however, is that the white areas including the Damascus region previously controlled by the Assad government were the true bulwark against a resurgence of the ISIS head-choppers, who had emerged in 2013-2014 from the ashes of Washington’s failed regime change intervention in Iraq.  So even if the choice was between the lesser of two evils, anyone with his head-screwed on straight could see that bolstering, or at least tacitly tolerating, the secularist, pluralist Alawite regime in Damascus was far preferable to the ISIS Caliphate fanatics.

    Stated differently, one failed Regime Change fiasco in Iraq surely warranted second thoughts about continued pursuit of a second attempt at Regime Change next door in Syria. After all, the menace of ISIS which had afflicted eastern Syria was the spawn of Washington’s disastrous intervention against Saddam Hussein. Yet like in the case of Assad, Hussein had posed no threat to America’s homeland security whatsoever but was nevertheless treated to the “shock and awe” of massive military attack and the gallows because he was alleged to be a plundering tyrant who wouldn’t play nice with the greedy Emirs who ruled the shared deserts and oilfields next door.

    Alas, the Empire First geniuses on the banks of the Potomac didn’t get any of this. Their swell plan was to get rid of both the ISIS jihadists and the Assad regime at the same time. But in attempting to do so they ended up creating two new militarized monsters out of the economic dislocations and tribal clashes that resulted from the very civil war they had unleashed.

    To that end, the previous ISIS-ruled territory in purple is now controlled by the US funded Kurdish SDF militias (Syrian Democratic Forces). The latter, of course, are the mortal enemy of Washington’s ostensible NATO ally next door in Turkey, which had been fighting its own Kurdish insurgents for decades.

    Indeed, owing to that threat, Turkey has supported and funded the anti-Kurd SNA (Syrian National Army), which occupies the border lands depicted in yellow on the map. A few years ago, however, the SNA was called the FSA (Free Syrian Army), which was a CIA-supported and operated brainchild of the late Senator John McCain, who never met a country in the middle east that he didn’t wish to invade and occupy.

    Meanwhile, with two new US-funded militias competing for military dominance, the third Syrian anti-government force comprised of the jihadist factions hadn’t been eliminated, either. That latter illusion, of course, had been triumphally claimed by Trump when Washington bombed Raqqah and surrounding areas to smithereens in 2017, and also finished off its terrorist leader, Abu Bakr al-Baghdadi, in 2019. Like the SNA, however, the jihadist contingent had simply shape-shifted. Twice.

    What is today HTS (Hay’at Tahrir al-Sham), which is ostensibly in control of the red-colored corridor from Aleppo down to Damascus, was previously known as the Nusra Front. That’s back when its current leader, Abu Mohammad al-Julani, was a strict jihadist.

    In 2011 he had been sent to eastern Syria to foment an uprising by his mentor and terrorist, the aforementioned al-Baghdadi. Both had been graduates of what amounted to the massive prison-based training school for Sunni jihadists at Camp Bucca in Iraq, later dubbed as “America’s Jihadi University”. The latter 20,000-prisoner monstrosity had been stood up by the clueless proconsuls Washington had sent to Iraq after Saddam’s demise and who soon needed a massive human storage facility for the fruits of their misbegotten de-bathification campaign.

    As it happened, by the end of the decade Washington had soured on its Iraq liberation enterprise and was attempting to extricate itself from its failed multi-trillion misadventure. In conjunction with this wind-down it undertook to substantially empty this bulging prison in what became known as the “Great Prison Release of 2009,” freeing 5,700 high-security detainees from Bucca Prison. Among these was Baghdadi and Julani.

    While the former organized and led the Sunni uprising in Mosul and Anbar province of Western Iraq, the Nusra Front was established as a separate entity in Syria by al-Julani. Initially, it was an offshoot of al-Qaeda in Iraq, but in April 2013 al-Baghdadi announced that the Nusra Front had merged with ISIS to form the Islamic State of Iraq and the Levant (ISIL).

    However, al-Julani and the Nusra Front rejected this merger and went their separate way, taking on a role as an independent jihadist force based in western Syria with strongholds in Idlib and Aleppo. Thereafter his Nusra Front spearheaded the 2015 conquest of this region under the banner of Jaish al-Fatah (the Army of Conquest). The latter was, in turn, described at the time by Foreign Policy magazine as a wonderful “synergy” of jihadists and western arms.

    Years later, US official Brett McGurk didn’t hesitate to label al-Julani’s Idlib base as “the largest Al-Qaeda safe haven since 9/11.” Of course, the crucial role of US weapons and strategic aid in fostering this jihadist success went unmentioned.

    So why did the US provide what one analyst called a “cataract of weaponry” to Nusra Front, just the same? An August 2012 Defense Intelligence Agency (DIA) report, infamously written under the auspices of General Michael Flynn, let the cat out of the bag quite dramatically. It revealed, in fact, that the Washington neocons and hegemonists had determined to support the establishment of a “Salafist principality” in eastern Syria and western Iraq as part of the effort to depose president Bashar al-Assad and divide the country.

    The DIA report said a radical religious mini-state exactly of the sort later established by ISIS as its “caliphate” was the US goal, even while admitting that the so-called Syrian revolution seeking to topple Assad’s government was being driven by “Salafists, the Muslim Brotherhood, and al-Qaeda.”

    Indeed, as indicated above, the seeds of this Salafist principality had been planted when the then ISIS leader, Abu Bakr al-Baghdadi, had dispatched Julani to Syria in August 2011. Prominent Lebanese journalist Radwan Mortada, who was embedded with Al-Qaeda fighters from Lebanon in Syria, met Julani in the central Syrian city of Homs at this time. Mortada informed his readers that Julani was being hosted by the Farouq Brigades, an FSA faction based in the city, which was a sectarian Salafist group that included fighters who had fought for Zarqawi’s brutal Al-Qaeda in Iraq (AQI) after the US invasion.

    That’s right. The current liberators of Syria were legatees of the brutes who were flushed out of the woodwork by Washington’s foolish “Shock and Awe” campaign in Iraq way back in 2003. And true to form, a few months after receiving his assignment from al-Baghdadi, Julani and his fighters entered the war against the Syrian government by carrying out multiple terror attacks. In Damascus during December 2011 Julani sent suicide bombers to target the Syrian government’s General Security Directorate, killing 44, including civilians and security personnel. Two weeks later, in January 2012, Julani sent another suicide bomber to detonate explosives near a bus in the Midan district of Damascus, killing some 26 people.

    These bloody doings coincident with the establishment of the “Support Front for the People of the Levant,” or the Nusra Front, was revealed after a videotape was provided to journalist Mortada showing Julani and other masked men announcing the group’s existence and claiming responsibility for the attacks. Thus, such is the lineage of the leader and group which purportedly “liberated” Syria from the clutches of the Assad family.

    In any event, when the Raqqah-based epicenter of ISIL was demolished after 2017, the Nusra Front hung on, changing its name to Hayat Tahrir al-Sham (HTS) in October 2017. This rebranding was part of an effort to distance itself from al-Qaeda and to restructure the group by merging with several other jihadist factions.

    For several years HTS remained contained in its narrow Idlib territorial base, even as it was assaulted by constant attacks from the forces of Assad and his Russian allies in the area. In effect, they were doing god’s work taking on the real enemy of civilization.

    Nevertheless, al-Julani persevered, recently reinventing himself as Ahmed al-Sharaa—which is his real name. He now wears an even shorter beard than in the second picture below and sometimes even dons a tie, while claiming to be a  “diversity friendly” pluralist friend of all Syrians—Christians, Alawites, Druze etc. That is, the very former infidel enemies of the Caliphate who al-Julani had previously decreed were to be put to death on the ancient orders of the Prophet himself.

    In short, Syria is now destined to become even a worse mess than Libya became after it was liberated by Hilary Clinton in 2011. As is evident from the above, you actually need a roster-sheet to even begin to grasp the madness now unfolding there, but the always astute Moon of Alabama has summarized the state of play as well as can be done:

    It is now highly likely that the country will fall apart. Outside and inside actors will try to capture and/or control as many parts of the cadaver as each of them can.

    Years of chaos and strife will follow from that.

    Israel is grabbing another large amount of Syrian land. It has taken control of the Syrian city of Quneitra, along with the towns of Al-Qahtaniyah and Al-Hamidiyah in the Quneitra region. It has also advanced into the Syrian Mount Hermon and is now positioned just 30 kilometers from (and above) the Syrian capital.

    It is also further demilitarizing Syria by bombing every Syria military storage site in its reach. Air defense positions and heave equipment are its primary targets. For years to come Syria, or whatever may evolve from it, will be completely defenseless against outside attacks.

    Israel is for now the big winner in Syria. But with restless Jihadists now right on its border it remains to be seen for how long that will hold.

    The U.S. is bombing the central desert of Syria. It claims to strike ISIS but the real target is any local (Arab) resistance which could prevent a connection between the U.S. controlled east of Syria with the Israel controlled south-west. There may well be plans to further build this connection into an Eretz Israel, a Zionist controlled state “from the river to the sea”.

    Turkey has had and has a big role in the attack on Syria. It is financing and controlling the ‘Syrian National Army’ (previously the Free Syrian Army), which it is mainly using to fight Kurdish separatists in Syria.

    There are some 3 to 5 million Syrian refugees in Turkey which the wannabe-Sultan Erdogan wants, for domestic political reasons, to return to Syria. The evolving chaos will not permit that.

    Turkey had nurtured and pushed the al-Qaeda derived Hayat Tahrir al-Sham to take Aleppo. It did not expect it to go any further. The fall of Syria is now becoming a problem for Turkey as the U.S. is taking control of it. Washington will try to use HTS for its own interests which are, said mildly, not necessary compatible with whatever Turkey may want to do.

    A primary target for Turkey are the Kurdish insurgents within Turkey and their support from the Kurds in Syria. Organized as the Syrian Democratic Forces the Kurds are sponsored and controlled by the United States. The SDF are already fighting Erdogan’s SNA and any further Turkish intrusion into Syria will be confronted by them.

    The SDF, supported by the U.S. occupation of east-Syria, is in control of the major oil, gas and wheat fields in the east of the country. Anyone who wants to rule in Damascus will need access to those resources to be able to finance the state.

    Despite having a $10 million award on its head HTS leader Abu Mohammad al-Golani is currently played up by western media as the unifying and tolerant new leader of Syria. But his HTS is itself a coalition of hard-line Jihadists from various countries. There is little left to loot in Syria and as soon as those resources run out the fighting within HTS will begin. Will al-Golani be able to control the sectarian urges of the comrades when these start to plunder the Shia and Christian shrines of Damascus?

    During the last years Russia was less invested in the Assad government than it seemed. It knew that Assad had become a mostly useless partner. The Russia Mediterranean base in Khmeimim in Latakia province is its springboard into Africa. There will be U.S. pressure on any new leadership in Syria to kick the Russians out. However any new leadership in Syria, if it is smart, will want to keep the Russians in. It is never bad to have an alternative choice should one eventually need one. Russia may well stay in Latakia for years to come.

    With the fall of Syria Iran has lost the major link in its axis of resistance against Israel. Its forward defenses, provided by Hizbullah in Lebanon, are now in ruins.

    Then again, the question recurs. What exactly was the point of wrecking another tiny, mostly land-locked country in the middle east with a population of just 20 million people, a GDP of only $40 billion, a per capita income of barely $2,000, no significant natural resources beyond a 2.5 billion barrel pittance of oil reserves (equal to about 30 days of global oil production), no significant steel or other industrial capacity, no tech sector, no capability to project any military power whatsoever beyond its own borders and a consumer sector so devastated by the Washington-instigated civil wars that total auto sales in 2022 were 478 units?

    That’s right. No zeros missing!

    At the end of the day, not even Washington is stupid enough to waste $40 billion on that. What has really been going on, therefore, is that by the lights of the Empire Firsters Assad had to be removed because he had the wrong allies and the wrong neighbors. The demonization about his tyranny and plunder was just a cover story for the real objective, which was undermining his Iranian ally.

    As a minority Alawite, which is a branch of Shiite Islam, Assad had aligned with his Shiite kin in Tehran and permitted Syrian territory to be used by the latter to transport arms and materiale to Iran’s Hezbollah allies in southern Lebanon. In turn, that was fully within Syria’s sovereign rights—especially since Hezbollah played a leading role in the coalition government of Lebanon. So destroying this Shiite nexus was the real reason for the relentless Washington war on Assad, and its incessant embrace and financing of all of the unsavory flotsam and jetsam which percolated up from Syria’s devastating civil war.

    Still again, however, there is no way that the homeland security of America was imperiled either by the Shiite-based Iran-Syria-Hezbollah alliance or the fact that one sovereign state member of that alliance (Syria) permitted its territory to used to transport weaponry and materiale. The only possible reason for Washington’s two decade folly in Syria, therefore, is the proposition that Iran is an existential threat to the liberty and security of the American homeland—way over here 6,400 miles from Tehran.

    That’s a ludicrous joke, to say the least. Iran’s GDP of $400 billion is equal to just 1.5% or five days worth of US GDP. Likewise, its $25 billion military budget is just 2.5% of the $1 trillion monster domiciled in the Pentagon.

    Even more to the point, Iran’s tiny Navy consists of 67 mostly coastal patrol boats and fast attack crafts, none of which can operate much outside of the Persian Gulf. Also, it has no long-range aircraft and its longest range missile, the Soumar cruise missile, is non-nuclear and has a maximum range of 1850 miles. That is to say, it can barely reach the European parts of the Mediterranean basin, and can’t hit at all cities like Paris, Berlin, Copenhagen, London, Stockholm or Oslo—-to say nothing of even remotely landing on our side of the Atlantic moat.

    Finally, Iran is not a rogue nuclear power or wanna be nuclear threat—even according to the 17 Deep State intelligence agencies which write the so-called NIEs or National Intelligence Estimates. These NIEs have said time and again that Iran abandoned even its nuclear research program in 2003, abided by the Obama nuke deal to the letter prior to Trump’s unilaterally shit-canning it in 2018, and even now is only enriching modest amounts of uranium to legal levels as is its prerogative as a signatory of the Nuclear Nonproliferation Treaty.

    In short, Iran is Bibi Netanyahu’s political pinata, not an enemy of America’s liberty and security.

    If Washington were not in the Empire First business and, most especially, not in the entangling alliance business in which allies and clients drag America into conflicts that have no direct bearing on its homeland security, Washington would have all along been following Thomas Jefferson’s advice: That is, it would have pursued peaceful commerce with Iran and Syria, not punished them with crippling sanctions and endless attacks on their own sovereignty and right to pursue foreign policy arrangements by their own best lights.

    Finally, what would a legitimate America First foreign policy now do?

    Simple.

    It would close the middle east bases, send the Fifth Fleet back to homeport in America, lift the sanctions on Iran and Syria and resume peaceful commerce with one and all willing nations in the region.

    *  *  *

    The amount of money the US government spends on foreign aid, wars, the so-called intelligence community, and other aspects of foreign policy is enormous and ever-growing. It’s an established trend in motion that is accelerating, and now approaching a breaking point. It could cause the most significant disaster since the 1930s. Most people won’t be prepared for what’s coming. That’s precisely why bestselling author Doug Casey and his team just released an urgent video with all the details. Click here to watch it now.

    Tyler Durden
    Fri, 12/27/2024 – 23:30

  • AI Is A National Security Imperative
    AI Is A National Security Imperative

    Authored by Monica Farrow via American Greatness,

    Many people forget that the Department of Defense conceived the internet as a secure and dynamic communication tool. Still, it took the private sector to turn it into an economic powerhouse that has revolutionized commerce and political discussion and transformed how people connect, work, and share information globally. Many argue that artificial intelligence’s impact on our society and economy will be greater than that of the internet, both economically and in national security. This public-private partnership can unlock AI’s potential, allowing the nation to protect itself while enriching itself.

    That’s why the Department of Defense, which has said that AI “will change society and, ultimately, the character of war,” wants to expand the use of artificial intelligence (AI). This venture will advance America’s defense and ensure the United States remains the world leader in technological modernization. However, while the Defense Department desperately seeks to develop and expand AI, the Department of Justice has declared war on it. It is taking legal actions that threaten to smother the industry, which is still in its infancy.

    AI technology is already touching every facet of modern life. For national defense, AI has the potential to analyze vast amounts of intelligence in real time, assist in decision-making, and help with battlefield strategy. The Deputy Assistant Secretary of Defense for nuclear matters recently noted that AI’s adoption will be a “considerable advancement in our ability to safeguard critical assets.”

    The Defense Department’s investment in AI is also about maintaining parity—or ideally, superiority—against adversaries like China and Russia, who aggressively pursue their AI initiatives.

    Beijing has made no secret of its ambition to become the global leader in AI and is funneling billions into various military and civilian applications.

    It aims to lead the world in AI by 2030 so it can obtain “intelligence supremacy,” allowing it to leapfrog the technological capabilities of the United States. If the U.S. fails to match or surpass these efforts, it risks falling behind in the arms race of the 21st century.

    AI is not just about military applications.

    The technology underpins advancements in healthcare, finance, transportation, and countless other industries and has been called the “most important technology of any lifetime.” Leading in AI ensures that American companies drive innovation, which creates jobs and fosters economic growth. Just as the internet was initially incubated by research and development for military applications, the same holds for AI. We need a robust partnership between government initiatives and private sector innovation to secure America’s AI development and application leadership.

    Many industries, such as tourism, travel, and hospitality, have adopted AI and are already implementing it. Hotels and airlines employ AI algorithms for dynamic pricing, which adapts rates based on up-to-the-minute supply and demand analysis. When demand is low, AI suggests lower pricing to help fill the capacity of hotels and airline flights.

    Yet, despite already being in everyday use, AI has come under fire from government regulators and bureaucrats.

    A federal court case in Nevada has become ground zero in this fight as hotels that use AI to offer pricing options are being sued with the wholesale support of the Department of Justice. Similarly, the DOJ has targeted RealPage, accusing the company’s software, which assists homeowners and landlords in determining what price to offer customers, as being illegal.

    These actions by the DOJ are incredibly short-sighted. Any business model that suggests both price reductions and price increases tied to supply and demand are the signs of a healthy, competitive marketplace is all about, not an antitrust violation.

    If the DOJ’s continued actions against algorithmic AI are successful, their actions risk setting a dangerous precedent by discouraging industries from leveraging AI’s full potential. Who will invest in technology when it risks potential litigation by the federal government?

    The stakes are too high for the United States to fail. If China dominates AI development, U.S. companies can become sidelined in global markets, and American workers could lose jobs in cutting-edge industries, not to mention watch ethical standards get shaped by regimes that prioritize state control over personal freedoms.

    AI is a foundational piece of our future vitality. It makes no sense for one government agency, the Department of Defense, to invest heavily in technology while another, the Department of Justice, threatens to smother it in the crib. Our security and prosperity depend on AI’s growth, adoption, and use. A cohesive national strategy is essential, where innovation is nurtured, not stifled, ensuring that AI can flourish to secure America’s future economically and militarily.

    *  *  *

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.

    Tyler Durden
    Fri, 12/27/2024 – 23:00

  • Finnish Commandos Seize Russia-Linked Ship After Undersea Cable Cut
    Finnish Commandos Seize Russia-Linked Ship After Undersea Cable Cut

    Finland has seized the ship which is being accused of cutting of an undersea cable connecting electricity to Estonia, allegedly on behalf of Russia, given that the vessel was carrying Russian oil. Finnish authorities and Western officials have described the damage to the Estlink 2 electricity cable as the result of “aggravated criminal mischief”.

    EU officials have characterized the incident as part of Russia’s hybrid warfare against NATO, with a European Commission statement describing the cable severing as “the latest in a series of suspected attacks on critical infrastructure.”

    The vessel in question was observed traversing the same area where the cable damage occurred near in time to the incident. Four additional telecom cables were disrupted – one linking Finland and Germany and three between Finland and Estonia.

    Finland’s coast guard boarded the suspect vessel on Thursday:

    Finnish police said in a statement that the coastguard crew boarded an oil tanker in Finnish waters early on Thursday. Authorities named the vessel as the Eagle S, and said it was registered in the Cook Islands in the South Pacific.

    When it was detained, the ship was sailing from Russia’s Saint Petersburg to Port Said in Egypt, according to online marine tracking website, MarineTraffic.

    According to MarineTraffic, the ship was owned by United Arab Emirates-based vessel management company, Caravella.

    The European Commission in its statement additionally accused the Eagle S ship of being part of Russia’s energy sanctions-busting ‘shadow fleet’.

    “The suspected vessel is part of Russia’s shadow fleet, which threatens security and the environment, while funding Russia’s war budget,” it said. “We will propose further measures, including sanctions, to target this fleet.”

    There are initial reports from European sources alleging the discovery of Russian intelligence-linked surveillance equipment found onboard the vessel:

    “Hi-tech” Russian signals intelligence equipment was reportedly carried by the tanker Eagle S, currently in custody after reportedly cutting the Estlink-2 cable in the Baltic, per Lloyd’s List. “They were monitoring all Nato naval ships and aircraft,” Lloyd’s List was told.

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    Data from the ship-tracking website MarineTraffic shows the vessel slowed down at the time the 658 megawatt (MW) Estlink 2 power interconnector was disrupted. The tanker was transiting the Baltics on its way from St. Petersburg to Egypt at the time, on Christmas day.

    MarineTraffic data also shows the Finnish Border Guard’s patrol vessel Turva escorted the tanker to waters off Porkkalaniemi, a peninsula on the Gulf of Finland, on Wednesday night, before it was boarded and seized by Coast Guard commandos the next day.

    Tyler Durden
    Fri, 12/27/2024 – 22:30

  • The Spies Who Hate Us
    The Spies Who Hate Us

    Authored by Jeffrey A. Tucker via the Brownstone Institute,

    Brownstone Institute has been tracking a little-known federal agency for years. It is part of the Department of Homeland Security created after 9-11. It is called the Cybersecurity and Infrastructure Security Agency or CISA. It was created in 2018 out of a 2017 executive order that seemed to make sense. It was a mandate to secure American digital infrastructure against foreign attack and infiltration. 

    And yet during the Covid year, it assumed three huge jobs. It was the agency responsible for dividing the workforce between essential and nonessential. It led the way on censorship efforts. And it handled election security for 2020 and 2022, which, if you understand the implications of that, should make you spit out your coffee upon learning. 

    More than any other agency, it became the operationally relevant government during this period. It was the agency that worked through third parties and packet-switching networking to take down your Facebook group. It worked through all kinds of intermediaries to keep a lid on Twitter. It managed LinkedIn, Instagram, and most of the other mainstream platforms in a way that made you feel like your opinions were too crazy to see the light of day. 

    The most astonishing court document just came out. It was unearthed in the course of litigation undertaken by America First Legal. It has no redaction. It is a reverse chronicle of most of what they did from February 2020 until last year. It is 500 pages long. The version available now takes an age to download, so we shrunk it and put it on fast view so you can see the entire thing. 

    What you discover is this. Everything that the intelligence agencies did not like during this period – doubting lockdowns, dismissing masking, questioning the vaccine, and so on – was targeted through a variety of cutouts among NGOs, universities, and private-sector fact-checkers. It was all labeled as Russian and Chinese propaganda so as to fit in with CISA’s mandate. Then it was throttled and taken down. It managed remarkable feats such as getting WhatsApp to stop allowing bulk sharing. 

    It gets crazier. CISA documented that it deprecated the study of Jay Bhattacharya from May 2020 that showed that Covid was far more widespread and less dangerous than the CDC was claiming, thus driving down the Infection Fatality Rate within the range of a bad flu. This was at a time when it was widely assumed to be the black death. CISA weighed in to say that the study was faulty and tore down posts about it. 

    The granularity of their work is shocking, naming Epoch Times, Unz.org, and a whole series of websites as disinformation, often with a crazy spin that identified them with Russian propaganda, white supremacy, terrorist activity, or some such. Reading through the document conjures up memories of Lenin and Stalin smearing the Kulaks or Hitler on the Jews. Everything that is contrary to government claims becomes foreign infiltration or insurrectionist or otherwise seditious. 

    It’s a very strange world these people inhabit. Over time, of course, the agency ended up demonizing much authentic science plus a majority of public opinion. And yet they stayed at it, fully convinced of the rightness of their cause and the justness of their methods. It seems never to have occurred to this agency that we have a First Amendment that is part of our laws. It never enters the discussion at all. 

    AFL summarizes the document as follows. 

    • CISA’s Countering Foreign Influence Task Force (CFITF) relied on the Censorship Industrial Complex to inform its censorship of alleged foreign disinformation narratives regarding COVID-19.
    • Unelected bureaucrats at CISA weaponized the homeland security apparatus, including FEMA, to monitor COVID-19 speech dissenting from “expert” medical guidance, including President Trump’s comments about taking Hydroxychloroquine in 2020. Many of these “false” narratives later turned out to be true, calling into question the government’s ability to identify “misinformation,” regardless of its authority to do so.
    • To determine what was “foreign disinformation,” CISA relied on the Censorship Industrial Complex’s usual suspects (Atlantic Council DFR Lab, Media Matters, Stanford Internet Observatory) — even those discredited for erroneously attributing domestic content to foreign sources (Alliance for Securing Democracy). CISA even relied on foreign government authorities (EU vs. Disinfo) and foreign government-linked groups (CCDH, GDI) that advocated for the demonetization and deplatforming of individual Americans to monitor and target constitutionally protected speech by American citizens.

    For years, this story of censorship has unfolded in shocking ways. This document among tens of thousands of pages is surely among the most incriminating. And discussing it is apparently still taboo because the Subcommittee report on Covid never once mentions CISA. Why might that be? 

    In the strange world of D.C., CISA might be considered untouchable because it was staffed out of the National Security Agency which itself is a spinoff of the Central Intelligence Agency. Thus does its activities generally fall under the category of classified. And its many functioning assets in the civilian sector are legally bound to keep their relationships and connections private. 

    Thank goodness at least one judge believed otherwise and forced the agency to cough it up.

    Tyler Durden
    Fri, 12/27/2024 – 22:00

  • China Dominates As The World's Top Car Producer
    China Dominates As The World’s Top Car Producer

    Last year, global vehicle production reached 93.5 million units, representing a 2% increase compared to pre-pandemic levels in 2019 and a significant 17% rise from 2022.

    This graphic, via Visual Capitalist’s Kayla Zhu, visualizes the share of motor vehicles produced by the top 30 countries in 2023.

    The figures come from the International Organization of Motor Vehicle Manufacturers, and includes both passenger and commercial vehicles.

    Which Country Produced the Most Cars in 2023?

    Below, we show the total number of motor vehicles produced by each of the top 30 countries, as well as their share of global production.

    Rank Country/Region Region Total Car Production Share of Total Production
    1 🇨🇳 China Asia 30,160,966 32.2%
    2 🇺🇸 USA Americas 10,611,555 11.3%
    3 🇯🇵 Japan Asia 8,997,440 9.6%
    4 🇮🇳 India Asia 5,851,507 6.3%
    5 🇰🇷 South Korea Asia 4,243,597 4.5%
    6 🇩🇪 Germany Europe 4,109,371 4.4%
    7 🇲🇽 Mexico Americas 4,002,047 4.3%
    8 🇪🇸 Spain Europe 2,451,221 2.6%
    9 🇧🇷 Brazil Americas 2,324,838 2.5%
    10 🇹🇭 Thailand Asia 1,841,663 2.0%
    11 🇨🇦 Canada Americas 1,553,026 1.7%
    12 🇫🇷 France Europe 1,505,076 1.6%
    13 🇹🇷 Turkey Asia 1,468,393 1.6%
    14 🇨🇿 Czech Republic Europe 1,404,501 1.5%
    15 🇮🇩 Indonesia Asia 1,395,717 1.5%
    16 🇸🇰 Slovakia Europe 1,080,000 1.2%
    17 🇬🇧 United Kingdom Europe 1,025,474 1.1%
    18 🇮🇹 Italy Europe 880,085 0.9%
    19 🇲🇾 Malaysia Asia 774,600 0.8%
    20 🇷🇺 Russia Europe 729,864 0.8%
    21 🇿🇦 South Africa Africa 633,337 0.7%
    22 🇵🇱 Poland Europe 612,882 0.7%
    23 🇦🇷 Argentina Americas 610,725 0.7%
    24 🇲🇦 Morocco Africa 535,825 0.6%
    25 🇷🇴 Romania Europe 513,050 0.5%
    26 🇭🇺 Hungary Europe 507,225 0.5%
    27 🇺🇿 Uzbekistan Asia 425,876 0.5%
    28 🇧🇪 Belgium Europe 332,103 0.4%
    29 🇵🇹 Portugal Europe 318,231 0.3%
    30 🌍 Others – 2,646,404 2.8%

    China dominated global car production in 2023, accounting for almost a third of all cars produced last year. The country currently produces and exports more cars than any other country in the world, as of December 2024.

    The country currently has the capacity to produce more than twice its domestic demand for cars, freeing up a significant portion of its car production to be allocated for export.

    The Chinese government has massively invested in ramping up domestic automotive production, and specifically its burgeoning electric vehicle sector.

    The government’s strategic initiatives, such as “Made in China 2025,” have prioritized electric vehicle manufacturing, leading to substantial growth in this area.

    The Best of the Rest

    Following behind China is the United States, with 11.3% of the global share. Elon Musk’s Tesla is currently the most valuable automaker in the world, with a market cap of over $1.4 trillion, as of Dec. 24, 2024.

    Tesla shares hit a record high following Trump’s victory in the 2024 presidential election. The American electric vehicle company dominates the industry, representing nearly half of the market capitalization among global automakers, with a valuation exceeding the combined worth of the next 29 car manufacturers.

    Japan ranks third at 9.6% of global car production, bolstered by legacy carmakers like Toyota and Honda.

    To learn more about global car production, check out this graphic that breaks down the global battery electric vehicle (BEV) industry by automaker.

    Tyler Durden
    Fri, 12/27/2024 – 21:30

  • Sheriffs Say They Can Help ICE In Trump's Mass Deportation Plan
    Sheriffs Say They Can Help ICE In Trump’s Mass Deportation Plan

    Authored by Darlene McCormick Sanchez via The Epoch Times,

    Sheriffs will likely play a key role in helping federal agents secure the border and deport illegal immigrants under President-elect Donald Trump.

    Trump made mass deportation of illegal immigrants a key part of his campaign to win a second term as almost 11 million people flooded into the country illegally since 2021.

    The president-elect’s incoming border czar, Tom Homan, has signaled a new era of federal, state, and local cooperation when it comes to deporting illegal immigrants.

    Homan, the former acting head of U.S. Immigration and Customs Enforcement (ICE), indicated he will first target those who have criminal convictions or are wanted for crimes.

    “The nation wants a safe country. We’ve had enough crime in this country,” Homan said during a stop at the Texas border in November.

    Sheriffs in the nation’s 3,100 counties could play an essential role in helping ICE to identify and detain illegal immigrants, said Sam Bushman, CEO of the Constitutional Sheriffs and Peace Officers Association (CSPOA), a conservative organization that opposes “unconstitutional” government overreach.

    As chief law enforcement officers in their counties, elected sheriffs have more latitude than appointed police chiefs. They have authority over criminal investigations, serving warrants, managing county jails, and providing court security within the county.

    Bushman foresees cooperation between willing county, state, and federal authorities to deport illegal immigrants, possibly through the creation of a new coordination agency or command center.

    “I think that we could create an organization that communicates with this trifecta, and that would be very effective,” he said.

    Richard Mack, a former Arizona sheriff and founder of CSPOA, has been in contact with Homan and believes sheriffs will be an integral part of border security and deportation efforts because of their unique understanding of their jurisdictions.

    “Who in this country knows their counties better than the sheriff?” he asked.

    Because of their local knowledge, sheriffs are in a unique position to help make deportation safer and easier, Mack told The Epoch Times.

    Regardless of politics, sheriffs must protect their constituents from crime and criminals, both tied to illegal immigration in terms of drug and human smuggling along with violent gang activity, he said.

    Policy experts have suggested that the federal government could deputize local law enforcement under its 287(g) program to aid ICE because the agency likely doesn’t have the manpower to do so alone.

    The 287(g) program currently provides a framework of cooperation wherein local jails work with ICE to identify illegal immigrants as they are booked for a crime. ICE and designated local law enforcement can then hold that inmate for up to an additional 48 hours so that ICE can take custody of the inmate.

    Homan has touted the program as a safe deportation pipeline, as ICE officers can pick up deportees within the safety of a jail setting, rather than having to organize an operation out in the community.

    ICE has about 20,000 employees, including support personnel. ICE’s Enforcement and Removal Operations (ERO) has 6,100 deportation officers and more than 750 enforcement removal assistants who are assigned to 24 field offices, according to an agency website.

    Former Chief of the U.S. Border Patrol Rodney Scott, who served under both Trump and Biden, said in a previous interview with The Epoch Times that Trump could expand the 287(g) program to help with deportations, as he did during his first term.

    Scott was recently nominated by Trump to serve as the incoming Customs and Border Protection commissioner.

    He said the 287(g) program also allows the creation of a task force and hybrid model that would enable local and state law enforcement to arrest illegal immigrants.

    In the blue state of Maryland, Frederick County Sheriff Chuck Jenkins, a longtime Republican, recalls when the task force model was operational in 2008.

    Frederick County Sheriff Chuck Jenkins at a meeting about illegal immigration issues in Bethesda, Md., on Oct. 17, 2017. Benjamin Chasteen/The Epoch Times

    “We had deputies on the street that could work at the direction of ICE and with ICE to take into custody people who had deportation warrants and so forth,” Jenkins told The Epoch Times.

    Reinstating the task force model would help expedite the deportation of criminals in the country illegally, he said.

    The Trump administration could also send representatives to local sheriff departments to recruit them to join the program, he said.

    “ICE can’t do it alone, or certainly not enough,” Jenkins said. “We need to be a force multiplier for them.”

    Tying federal grant money to sheriff department cooperation with ICE would likely convince many to come on board, he said.

    Even if sheriffs don’t participate in arresting illegal immigrants, they could help in other ways, such as providing transportation and logistical support and workspace for ICE, he said.

    Jenkins said Frederick County’s jail-based detainer program has been successful, resulting in the removal of about 2,000 illegal immigrant criminals in the county.

    Under the 287(g) program, sheriff’s office employees are trained to file a detainer and prepare the paperwork under the supervision of ICE in an effort to streamline the process, he said.

    Illegal immigrants stand along the U.S.-Mexico border as they await processing by the U.S. Border Patrol in Jacumba Hot Springs, Calif., on Dec. 1, 2023. Mario Tama/Getty Images

    San Diego County Sheriff Kelly Martinez, who serves in the nation’s fifth most populous county, has vowed to defy a new county policy to limit cooperation with federal deportation efforts.

    Earlier this month, San Diego County supervisors voted to ban its sheriff department from working with ICE on the federal agency’s enforcement of civil immigration laws, including those that allow for deportations.

    California law generally prohibits cooperation but makes exceptions for those convicted of certain violent crimes.

    Martinez, whose office is nonpartisan but considers herself a Democrat, said she wouldn’t honor the new policy and that the county government doesn’t oversee her office.

    “Current state law strikes the right balance between limiting local law enforcement’s cooperation with immigration authorities, ensuring public safety, and building community trust,” Martinez said.

    In the blue state of Michigan, Barry County Sheriff Dar Lief said it is important to remove violent criminals from the streets.

    “I’m on board with that,” he told The Epoch Times.

    Lief echoed the belief of Trump and his surrogates during the presidential campaign that many of the illegal immigrants coming into the country were from prison systems or asylums.

    “Nonetheless, our governor here asked residents to take in illegal immigrants,” he said. “Who are you opening up your house to?”

    Lief said he warned the citizens of Barry County against taking in illegal immigrants, which Gov. Gretchen Whitmer called “new Americans,” because there was no guarantee they were properly vetted.

    Not all blue states or city leaders are against Trump’s deportation plan to remove criminal illegal immigrants.

    New York City Mayor Eric Adams met with Homan recently to discuss deporting illegal immigrants who commit violent crimes in the Democrat-run city.

    “We will not be a safe haven for those who commit violent acts. We don’t do it for those who are citizens, and we’re not going to do it for those who are undocumented,” Adams said during a press conference.

    New York City Mayor Eric Adams speaks at a media availability event after meeting with border czar Tom Homan in New York City, on Dec. 12, 2024. Oliver Mantyk/The Epoch Times

    Adams said law-abiding illegal immigrants are welcome in the city. Still, it was a “terrible mistake” to allow those in the country unlawfully to commit violent crimes repeatedly, especially those associated with gangs.

    New York Gov. Kathy Hochul said in November during a press conference that she supports “legal” immigrants, including asylum-seekers, but not criminals here illegally or those committing crimes.

    “Someone breaks the law—I‘ll be the first one to call up ICE and say, ’Get them out of here,’” she said.

    Homan said blue city officials don’t have to cooperate, but he has repeatedly warned them not to stand in his way.

    Homan recently announced he would begin deportations in Chicago, criticizing Chicago Mayor Brandon Johnson and Illinois Gov. J.B. Pritzker for resisting the removal of criminal immigrants.

    “If he impedes us, if he knowingly harbors and conceals an illegal alien, I will prosecute him,” Homan said of the Chicago mayor.

    Tom Homan, tapped to be President-elect Donald Trump’s border czar, addressed Operation Lone Star members at the Texas border on Nov. 26, 2024. Darlene McCormick Sanchez/The Epoch Times

    Texas Model

    Homan said during a visit to the Texas border town of Eagle Pass before Thanksgiving that the state’s operation to stop illegal immigration could become a national model.

    He praised Texas Gov. Greg Abbott’s Operation Lone Star, a $10-billion border mission to string razor wire along the border, place buoy barriers in the Rio Grande, help build a border wall, and bus illegal immigrants to sanctuary cities.

    The operation consists of Department of Public Safety law enforcement and Texas National Guard members.

    The program also focuses on arresting illegal immigrants for trespassing on private ranchland along the border—offering a unique roadmap for how counties could help deport illegal immigrants.

    Brent Smith, the county attorney for Kinney County, has plenty of experience dealing with illegal immigrants in his county, which sits along the Texas–Mexico border.

    Kinney County has prosecuted the largest number of illegal immigrants for trespass and related misdemeanors under Operation Lone Star.

    In 2019 and 2020, the small, rural county dealt with just 254 and 132 misdemeanor cases, respectively, mostly involving U.S. citizens.

    The U.S. citizen caseload has remained somewhat constant, but because of illegal immigration, the total number of misdemeanor cases shot up to 6,799 in 2022 and 5,826 in 2023, according to numbers obtained from the county attorney’s office.

    Smith told The Epoch Times that trespassing arrests in Kinney County under Operation Lone Star offered valuable lessons on how to run a border security initiative.

    At first, funding went to provide law enforcement, but Smith said it became clear that there needed to be more funding for the entire county justice system for prosecutors, public defenders, clerks, and judges to process illegal immigrants charged with trespassing.

    “What I foresee is some very strong 287(g) agreements being entered into, and state and local law enforcement actually becoming an arm of the Department of Homeland Security (DHS) immigration enforcement,” he said.

    Law enforcement responds to a crash and fire of a suspected smuggling vehicle near Brackettville, Texas. Courtesy of Kinney County Sheriff’s Office

    He said that after undergoing a DHS training program, local officers are considered immigration officers under the supervision of an ICE agent.

    He pointed to former Maricopa County Sheriff Joe Arpaio, who was known for implementing the 287(g) task force successfully to arrest illegal immigrants in Arizona but came under fire during the Obama administration.

    Maricopa County’s 287(g) program was canceled in 2011 after a Department of Justice investigation accused the sheriff of racial profiling.

    In 2012, the Obama administration discontinued the task force and hybrid models of the program altogether.

    Trump expanded the program in his first term to 150 agreements with local law enforcement and broadened the removal criteria to include misdemeanors.

    Under the Biden administration, new 287(g) agreements were paused.

    Smith said that once Trump ends the Biden administration’s catch-and-release policy, there will be more “gotaways,” which will require a shift in resources to focus on apprehension instead of processing those claiming asylum.

    Money—or the lack of it—will be an essential tool in deportation and border security, he said.

    On the state level, he has been discussing a bill with Texas lawmakers that would require sheriffs to apply for 287(g) agreements before receiving state grant funding.

    The same principle could be applied to federal grant money for cities such as Chicago, he said.

    “How much is your political leanings worth to you? Is it worth $1,000, or $100,000, or $2 million?” he said. “We’re going to find out.”

    Tyler Durden
    Fri, 12/27/2024 – 21:00

  • HTS Names UN-Designated Terrorist As Syria's New Intelligence Chief
    HTS Names UN-Designated Terrorist As Syria’s New Intelligence Chief

    Via The Cradle

    On Thursday, Syria’s de facto authorities appointed former Al-Qaeda commander and Nusra Front co-founder Anas Hassan Khattab as the head of the country’s general intelligence agency.

    Khattab, also known as Abu Ahmed Hudood, was blacklisted as a “terrorist” by the UN Security Council in September 2014 for his close association with Al-Qaeda.

    Anas Hassan Khattab, also known as Abu Ahmed Hudood

    According to the listing, for several years, he was involved “in the financing, planning, facilitating, preparing, or perpetrating of acts or activities by, in conjunction with, under the name of, on behalf of, or in support of” and “otherwise supporting acts or activities of” the Nusra Front. This Al-Qaeda offshoot was rebranded as Hayat Tahrir al-Sham (HTS) in 2017.

    Khattab served as the administrative emir of the Nusra Front as of early 2014 and was part of its shura council by mid-2013. He was also tasked with selecting personal bodyguards for HTS leader and Syria’s de facto ruler Abu Mohammad al-Julani, who dropped his nom de guerre earlier this month and now goes by his real name, Ahmad al-Sharaa.

    In recent years, Khattab oversaw general security operations in Idlib. His involvement in intelligence gathering dates back to the period when HTS consolidated control over northern Syria with Turkish support; during this time, he managed surveillance of covert networks along the borders of HTS-controlled areas.

    Syria’s new intel chief was sanctioned by the US Treasury Department in 2012 for his ties to Al-Qaeda.

    Khattab is the latest HTS authority to be granted a top post in the so-called “transitional government” following the success of the Turkish and US-backed coup against the government of ousted Syrian president Bashar al-Assad.

    Last week, the General Command of the Armed Opposition Factions appointed Asaad Hassan al-Shibani, a founding member of Al-Qaeda in Syria, as the new caretaker foreign minister. This was followed by the appointment of Murhaf Abu Qasra, a top HTS leader known by his assumed name Abu Hassan 600, as defense minister.

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    As HTS continues to consolidate power with the full support of western nations, clashes have broken out in western Syria between the remnants of the Syrian Arab Army (SAA) and HTS-led extremists.

    Tyler Durden
    Fri, 12/27/2024 – 20:30

  • The Work Visa Debate: Not All Immigration Is Bad, But Focus On Americans First
    The Work Visa Debate: Not All Immigration Is Bad, But Focus On Americans First

    After Donald Trump’s overwhelming election victory in November the nation is adjusting to the reality that the mass immigration policies of the political left are about to be reversed.  Not just ended, but turned back.  This means mass deportations of millions of illegals and far more scrutiny on existing temporary visa programs.  The logistics of such an unprecedented effort require intensive planning and a lot of debate.    

    There is a contingent of MAGA that wants a total shutdown of migrant activity and a moratorium on work visas.  For how long?  No one seems to know, exactly, but it’s a scorched earth response to the Biden Administration’s excessive abuses of H-1B programs (and similar labor programs) to sneak millions of third world migrants into the country and label them “legal”.     

    Biden’s free pass for Haitians and Venezuelans, for example, was introduced at a time when the border crisis was hitting the mainstream media feeds and the public realized how bad the situation actually was.  Biden and the Democrats offered Haitians and others temporary work visas and created a loophole, allowing the visas to be extended for years.  In other words, Biden tried to reduce the number of border encounters by offering millions of illegals a backdoor into the US through work programs.    

    The third worlders still get into the country and Biden can claim illegal immigration is going down.  The longer migrants are able to stay in the US on visas, the easier it is for them to get permanent residency.  This is called “Labor Certification” and it’s the first step towards a Green Card.  Because of the many loopholes associated with visa programs, Americans are now highly suspicious of any migration to “fill holes in the labor pool”.     

    On the other side, some in MAGA want to end illegal immigration while increasing legal immigration of skilled workers. 

    In other words, attract the best and brightest from around the globe and bring them here so that our competitors don’t get them first.   

    The threat of a complete shut down of all immigration, including skilled workers, has the tech industry concerned.  Elon Musk chimed in on the H-1B issue recently and called for more foreign engineers to be allowed work status in the US.  Some people agree, while many others are in an uproar, calling Musk a “traitor”.   

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    To be fair to Musk, he would know better than most what the deficiencies are in the STEM labor market in America given his industry focus.  The fact is, not all immigration is bad immigration and going scorched earth on work visas might be a net negative to the US in the short term (perhaps even the long term).  It should be noted that a lot of skilled immigrants come from Europe, Australia, the UK, Canada and other western nations, not just places like India or China.

    Others argue that America is not a sports team or a company, it’s a home.  People believe the system is inviting foreign workers into the US without giving a fair shot to native born Americans.  The question is, do such American STEM workers exist in numbers large enough to fill industry needs?  And, if not, what’s the solution? 

    Vivek Ramaswamy has chimed in on the issue via X, suggesting that there isn’t an intelligence deficiency in the US, there’s an educational and institutional deficiency:  

    “The reason top tech companies often hire foreign-born & first-generation engineers over “native” Americans isn’t because of an innate American IQ deficit (a lazy & wrong explanation). A key part of it comes down to the c-word: culture.  

    Tough questions demand tough answers & if we’re really serious about fixing the problem, we have to confront the TRUTH:  Our American culture has venerated mediocrity over excellence for way too long (at least since the 90s and likely longer). That doesn’t start in college, it starts YOUNG.  A culture that celebrates the prom queen over the math olympiad champ, or the jock over the valedictorian, will not produce the best engineers.” 

    This is essentially the same argument that conservatives have been making for many years; the decline in the American educational system, especially in STEM fields, is legendary at this point, along with the overall decline in culture.   

    Vivek might be a little behind the times on the issue – Even athletic excellence in the US is no longer culturally venerated.  The problem is mediocrity in every area of life.  The most popular career choice for Gen Z is to become a “YouTube star”.  No kid wants to be an astronaut anymore.  There are some very smart people out there on YouTube, but no society can survive on a labor force full of wannabe “influencers”.

    That said, US trust in the immigration system has been broken and even Vivek is receiving considerable blowback for his defense of H-1B visas.  A common counter to Vivek’s position is the claim that much of the “skilled labor” coming from countries like India is actually mediocre labor that does the job (barely) for cheaper wages while replacing better qualified Americans.  Whether or not this is true on a wider scale needs to be investigated. 

           

    As usual, whenever there is a divisive issue causing internal conflict and debate among conservative groups there are doom mongers that dance around the edges and act as if the entire movement is suddenly fracturing.  Conservatives have never agreed on solutions – This is normal.  They are not a hive mind like the political left, which is a good thing.  Such debates are a sign of a healthy political process.     

    What we really have here is an artificially created either/or scenario; skilled labor shortages should be treated as a “why not do both” scenario.   

    First and foremost, Americans want actual proof of these labor shortages.  They’ve heard stories for years but the proof is less accessible.  What if tech companies and others in need of STEM labor were to engage the public in a large scale national labor fair?  It sounds cheesy, but consider for a moment that the vast majority of companies today handle all their hiring through online cattle markets that often give job seekers the runaround.   

    There is almost zero human interaction and no confirmation that a job was ever filled.  There are companies that post fake job listings to make it appear as though they are growing, to make existing employees feel as though they can be replaced and to make existing employees think their extreme work load will soon be alleviated by new talent.  This practice has stunted the stats on the labor market.     

    Nationwide job fairs require money to set up and companies have to put people on standby to talk to prospective employees.  There is energy and a sense of urgency involved.  If skilled labor is truly hard to find, then Elon Musk and other industry leaders should have no problem putting some capital into a physical and interactive job fair – A national search for American talent in STEM in which workers talk to employers face-to-face instead of being filtered by websites and algorithms.   

    It might even be prudent to make such labor searches a requirement for large companies before they’re allowed to bring over migrant workers through visa programs.

    If the shortage is real then it will be obvious from the lack of participation on the side of job seekers or the lack of qualifications in their resumes.  Then, those within MAGA that oppose migrant visas will have to admit that the demand is legitimate and that the only option, in the short term, is to bring in foreign labor.   

    In the long term, the national education system needs to be completely overhauled and a focus on practical skills and advanced STEM has to be championed.  Incentives to lure Americans back into science and engineering fields may be necessary.  The US can do both:  Cut immigration down to only the best and brightest, or down to labor pools with proven shortages, while also encouraging native-born American interest in such fields and creating a domestic pool of skilled assets.

    Tyler Durden
    Fri, 12/27/2024 – 20:11

  • The Economics Of "It's A Wonderful Life"
    The Economics Of “It’s A Wonderful Life”

    Authored by Jeffrey Tucker via The Epoch Times,

    When Frank Capra’s “It’s a Wonderful Life” was being filmed in 1945, just as the Second World War was closing and a few years before the Cold War was heating up, the FBI investigated it for its supposed anti-capitalist themes. A memo said:

    “With regard to the picture It’s a Wonderful Life, [redacted] stated in substance that the film represented rather obvious attempts to discredit bankers by casting Lionel Barrymore as a ‘scrooge-type’ so that he would be the most hated man in the picture. This, according to these sources, is a common trick used by Communists. [In] addition, [redacted] stated that, in his opinion, this picture deliberately maligned the upper class, attempting to show the people who had money were mean and despicable characters.”

    If it was a communist plot, it’s not a very good one. The film celebrates small-town life, family, hard work, faith, dedication to truth, and bottom-up prosperity, while villainizing theft (Mr. Potter effectively steals the money belonging to the small bank) and consolidation of finance.

    Ask anyone what the message of the film is.

    They will tell you: truth, decency, be happy with the opportunities you have, don’t be jealous or envious of others, count your blessings, remember how valuable you are as a person, rally around the life you have, serve your community, fight evil when necessary, and don’t ever take your good life for granted.

    There’s nothing communist about that. As for the portrayal of the banker, Henry Potter in the film is a stand-in for ruling class power and the accumulation of unjust wealth and power, someone more akin to government than regular businesspeople.

    In the nightmare sequence, Potter takes over the town and the place becomes a decadent and drunken place of squalor, crime, and sadness, fueled by credit schemes and power brokering.

    Maybe that has a ring of truth to it?

    Partisans of capitalism would not do their cause any favors by defending the big banker in this movie against the aspirations of the townsfolk. Rather than force-fitting this film into a Cold War narrative, the film can be more properly seen as part of a long line of Capra’s own populist impulses, most fully realized in his 1941 masterpiece “Meet John Doe.”

    That film is actually better overall, in my view, the story of how a legitimate populist movement gets played by a wicked power broker who attempts to channel the people’s goodness into a fifth-column movement designed to subvert the Constitution. I have certain historical figures in mind (FDR perhaps?), but that’s for another time.

    The most riveting scene in “It’s a Wonderful Life” concerns a run on the Building and Loan that is managed by George Bailey. Hearing of the other troubles in the industry, and a rumor spread by Henry Potter, the depositors panic and demand their money to be withdrawn immediately. There was nothing unfair or illicit about the demand. The people were worried about the viability of the institution in light of the rumors of missing funds.

    At the same time, the whole idea of a Building and Loan is the pooling of resources to support home ownership in exchange for which depositors receive interest. They are nowhere promised a full and immediate return on all deposits on demand. The institution is built on trust—trust that the managers are not overleveraged, trust that its investments are wise, trust that the community is economically viable, trust that people will pay their mortgages.

    Bailey gives an impassioned speech to the depositors that saves the institution. Here is what he said:

    “Now listen to me. I beg of you not to do this thing. If Potter gets hold of this Building and Loan there’ll never be another decent house built in this town. He’s already got charge of the bank. He’s got the bus line. He’s got the department stores. And now he’s after us. Why? Well, it’s very simple. Because we’re cutting in on his business, that’s why. And because he wants to keep you living in his slums and paying the kind of rent he decides.

    “Please, let me explain something to you. Your money’s in Joe’s house, right next to yours. And in the Kennedy house, and Mrs. Macklin’s house, and a hundred others. Why, you’re lending them the money to build, and then they’re going to pay it back to you as best they can. Now, what are you going to do? Foreclose on them?

    “I’ve got $2,000 here. That’s what’s left of the Building and Loan. The rest is locked up in mortgages. Now, you’re not going to get your money tonight. But you’ve got my word that each one of you will get your money back as soon as we can possibly give it to you.”

    Based on this speech, people calm down and decide to trust that something will work out. Bailey here proves himself to be a very good marketing manager of the institution, eloquently explaining how the system works here—or, rather, reminding them of how the institution functions as a matter of contract.

    You can trace banking contracts through history to understand that there are many different types. Some institutions are purely for storage and safekeeping, essentially holding your resources in a safe deposit box or a grain elevator. The contract is a bailment: you get the whole of your deposit back on the asking. That is true for every depositor at any moment in time.

    The Building and Loan is not set up to provide all depositors their money upon the asking. Its assets and liabilities balance, but its assets are in the nonliquid form of housing. There is nothing shady or noncontractual about this. Nor does this kind of leverage produce inflation. Its job is to put capital in the form of money to work in ways that pay returns over time.

    In loan banking with clearing services, the situation is different. Your money is invested in other projects and the clearing services are free or depositors earn interest. It’s a straightforward business transaction.

    By the 1940s, however, there was plenty shady about a bank of the type run by Potter, who is a stand-in for a long line of banking interests that become overleveraged and rely on its relationship with government and cartelized central bankers for bailouts when times get rough. We saw this in spades in 2008, when the Fed used its powers to recapitalize major banks and financial firms that had overleveraged in mortgage-backed securities.

    In fact, the creation of the Federal Reserve itself in 1913 was advertised as a way to provide financial stability to the industry but it ended up centralizing it, creating a moral hazard, and subsidizing loan profligacy in a way that endangered the entire system.

    After the Fed was tapped to provide liquidity for the Great War, the industry never really righted itself toward financial soundness. The bank runs of the early 1930s that ended with mandated bank holidays and devaluation make the point.

    That’s not a failure of “fractional reserve banking” as such but simply a failure of signaling systems, clear contracts, transparent audits, and honest risk assessments. Central banking itself is the source of the problem. Nor did government-provided deposit insurance (started in 1933) work as a stabilizer, it only incentivized more risk-taking than the market would otherwise allow.

    To be sure, there is a role for institutions that provide 100 percent backing for deposits. Even now, people are reluctant to keep more than $250,000 in a single bank account because this is the amount of government-provided deposit insurance. They are essentially seeking perfect liquidity on their accounts. The other option is to hold one’s money in financial firms that keep money invested in stocks and bonds that pay returns based on depositor risk assessment.

    The case of Bitcoin is a good test case for what markets demand of banking. Most exchanges claim to offer 1:1 holdings of assets with zero leverage, though others market themselves as institutions for pooling resources and giving returns to depositors based on risk. This experiment has been fascinating because there is no deposit insurance and no Bitcoin central bank. Some exchanges have gone belly up precisely because not all promises have been kept.

    As the industry matures, which we can hope will happen without government backing or intervention, it will become a complex mixture of self-custody (after all, becoming your own bank was the whole pitch of Bitcoin), full custody exchanges, loan operations, and leveraged services of various risk profiles. This is how a free market in money and banking should work.

    In an ideal world, banking would work like any other business in a free market. It would bear all the risk for the investments it undertakes. It would have free entry and exit. There would be innovation driven by the entrepreneurial spirit. Government would have nothing to do with it. In some ways, that was the Building and Loan that George Bailey saved through his efforts.

    The popularity of “It’s a Wonderful Life” owes so much to its messaging, and also to the perception for decades that the film was in the public domain, which permitted it to be widely aired on television, causing generations to regard it as the American classic it truly is. It is also a tribute to the enterprising spirit and its connection to family, community, and the values that make for the good life. The FBI was simply wrong and the film’s popularity to this day proves it.

    *  *  *

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Fri, 12/27/2024 – 20:00

  • "All Systems Go" For Polar Vortex Air Dumping Into US
    “All Systems Go” For Polar Vortex Air Dumping Into US

    New forecasts from private weather forecaster BAMWX show an Arctic blast, or “polar vortex,” is set to pour into the eastern half of the United States during the second week of January or by mid-month. US natural gas markets responded early Friday, jumping nearly 5% on expectations of a colder start to the new year and increased heating fuel demand. 

    “BIG overnight colder trends on the EPS. The key here is the tropospheric polar vortex sitting over the Hudson Bay. The ability for storms/fronts to pull in cold air will be amplified and this run highlights that. Stages set for a few memorable cold snaps in January of 2025,” BAMWX wrote on X. 

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    BAMWX noted, “In addition to the Tropospheric Polar Vortex – one key to keeping the cold around for an extended time is to then move the Stratospheric Polar Vortex towards North America to ensure a consistent supply of cold air down the road,” adding, “Both the ECMWF and GEFS are showing that now.” 

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    BAMWX’s Kirk Hinz commented on the new weather models, pointing to a very serious cold start to the year for the eastern half of the US. He said, “All systems “go” on Arctic air dumping into the US early to mid-Jan.” 

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    Here’s BAMWX’s long-range analysis for January:

    The cold sets the stage for possible snowy conditions across the Ohio Valley, Mid-Atlantic, and Northeast.

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    BAMWX’s January Forecast in video format: 

    NatGas futures for January delivery jumped nearly 5%, reaching about $3.89/MMBtu.

    Notably, prices have breached the $3 resistance level after consolidating for two years, potentially signaling a major trend reversal.

    In early December, warmer Lower 48 temperatures turned the “widowmaker” (March-April 2025) spread negative at the earliest point in the season in nine years. This signaled that the market abandoned expectations for higher prices across the Lower 48 this winter. However, the spread has flatlined around 0 and turned up. 

    All it takes is one polar vortex split to unleash cold Arctic air into the Lower 48, potentially reversing the bearish outlook—and that’s likely what may happen here.

    Tyler Durden
    Fri, 12/27/2024 – 19:30

  • America's Problem With Consumerism Is The Government's Fault
    America’s Problem With Consumerism Is The Government’s Fault

    Authored by Connor O’Keefe via The Mises Institute,

    At the end of every year, as we make our way through the holidays, you’ll hear no shortage of complaints about the rampant hyper-consumerism at the heart of modern American society. And these complaints aren’t without merit. Flip on the TV or walk through any city’s commercial district before Christmas, and it’s easy to get the impression that the entire American concept of familial love rests on how much stuff we buy for each other.

    Beyond Christmas, there’s no question that purchasing and acquiring stuff is a central part of American life.

    Many consider their social status to be reflected by how much they can and do spend on luxurious goods and experiences. And, each year, billions of dollars of marketing goes into convincing us that we are one purchase away from permanent bliss.

    There’s no question that modern America is a very “consumerist” society.

    But before condemning that as a “moral failure” of the American people, it’s important to understand that this is the sought-after result of our government’s policies.

    Consumption is an essential part of life. We obviously need food, water, clothing, and shelter to survive. And, as human civilization has grown beyond Malthusian hunter-gatherer conditions, the goods and services available to consume have made life safer, more comfortable, and more fulfilling than our early ancestors could have dreamed of.

    But all that progress rests on one thing above all: our ancestor’s willingness to forgo consumption, save the fruits of their labor, and invest it in the production of more valued goods and services.

    Forgoing consumption is not easy, but it is incredibly important. Because saving in order to invest is quite literally the engine of civilization.

    But saving itself is also an important aspect of a healthy society. Our world is unstable and uncertain. Saving money protects us from future difficulties we cannot foresee. And further, it allows us to pass on wealth to our descendants—improving the starting point and overall well-being of future generations.

    So, if the well-being of all of our society requires we invest in more valued lines of production, our personal well-being requires we consume, and the well-being of our future selves and descendants requires we save, what determines which action we choose? We can’t do all three at the same time, after all.

    Like anything, it comes down to our preferences. More specifically, in this case, because we’re comparing the satisfaction of our wants in different time periods, it comes down to what economists call time preference—the extent to which we value present satisfaction over that exact same satisfaction in the future.

    For some—mainly children—immediate gratification is highly preferred to delayed gratification, even when that delayed gratification is much larger. These people are said to have a high time preference.

    Typically, as we become adults, we come to recognize the benefits of withholding some of our consumption in order to save and/or invest in productive pursuits. Although it is by no means easy, we start to improve our lives dramatically if we can find the discipline to act in the interest of our future selves. Those who forgo a lot of instant gratification through consumption to pursue the delayed—but often greater—gratification that comes from being frugal or productive are said to have a low time preference.

    Essentially, all of human history is one long story of societies successfully working to lower their time preference, investing in the well-being of future generations, and leaving the world better off than it had been before. While it is always more comfortable in the moment to satisfy our immediate wants, the consistency of falling time preferences across most of the globe suggests that humans naturally gravitate toward sacrificing their own material comforts to bring about a better future for themselves and their children. That is a beautiful thing, and it’s the reason our species has achieved so much. But over the last century or so, this glorious, multi-thousand-year trend has come under attack.

    In the past, some economists mistakenly came to view savings as economic waste. Money saved, they thought, was money “leaking” out of the economy. This idea, which came to be known as “the paradox of thrift,” was then used by political officials to help justify the government’s takeover of the monetary system.

    Today, with full control over the supply and value of money, the United States government has settled on a policy that aims to bring about permanent price inflation. They do this by printing money and injecting it into the economy through the credit markets. Doing so transfers a lot of wealth to the political class and creates the recurring nightmarish cycle of economic booms and recessions. But it also has profound effects on the public’s behavior.

    Because permanent price inflation punishes people for saving. Money loses its value over time, meaning—in a reversal of how it’s worked for almost all of human history—money saved today will not be able to purchase as much in the future.

    With what is, in effect, a tax on savings, the government encourages people to adopt more child-like, high time preference behaviors by saving less and consuming more. Living paycheck-to-paycheck to fund more GDP-bloating consumption is a good thing, in this backward economic view, as is going into debt to fund even more consumption.

    This government-induced rise in time preference also has incredibly damaging impacts on our culture as the consumption of stuff takes priority over the production of resources and the cultivation of community. And the prioritization of immediate gratification spreads beyond economic decisions to encompass all aspects of life.

    The American political class may really believe that savings are economically damaging and that they should be discouraged. Or they may just see that argument as another useful justification for a monetary system that is making them very rich. But regardless, the kind of hyper-consumerist, living paycheck-to-paycheck, buried-in-debt lifestyle that is used to chastise Americans—especially around Christmas—is precisely what the American monetary system is built to encourage.

    Finding the hyper-fixation on buying stuff around the holidays off-putting is appropriate. But make sure you place the blame on the right people.

    Tyler Durden
    Fri, 12/27/2024 – 19:00

  • "I Like This Idea": Kevin O'Leary Calls for "Economic Union" Between US & Canada To Secure Future
    “I Like This Idea”: Kevin O’Leary Calls for “Economic Union” Between US & Canada To Secure Future

    Canadian businessman and “Shark Tank” star Kevin O’Leary appeared on Fox Business Thursday, voicing his dissatisfaction over Liberal Party Prime Minister Justin Trudeau’s imploding leadership. O’Leary suggested that under President-elect Donald Trump’s second term, the United States and Canadian economies should unite to create an economic powerhouse.

    “This could be the beginning of an economic union,” O’Leary said, noting, “Think about the power of combining two economies, erasing the border between Canada and the United States and putting all that resource up to the northern borders where China and Russia are knocking on the doors. Give a common currency, figure out taxes, and get everything trading both ways.”

    He added: “I like this idea and at least half of Canadians are interested.” 

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    In recent weeks, Trump said it would be “a great idea” for Canada to become the 51st US state in an unfolding tariff dispute in North America. This prompted Trudeau to visit Trump’s Mar-a-Lago in South Florida. 

    On Christmas Day, Trump wrote on Truth Social: “No one can answer why we subsidize Canada to the tune of over $100,000,000 a year? Makes no sense!”

    He continued, “Many Canadians want Canada to become the 51st State. They would save massively on taxes and military protection. I think it is a great idea. 51st State!!!”

    Trump also made tariff threats against Canada to secure its border amid the expansion of fentanyl superlab production across Canada—much of which is destined for the US.

    To O’Leary’s point, Trump’s threats to impose tariffs on Canada—highly integrated with the US economy, accounting for 60% of US crude oil imports and 85% of US electricity imports—could spark turmoil for its northern neighbor. To resolve this and ensure North America remains an economic powerhouse throughout this century, deeper economic integration and cooperation might be necessary.

    Tyler Durden
    Fri, 12/27/2024 – 18:30

  • Bird Flu Virus Mutations Discovered In First Severe Human Case In US, CDC Says
    Bird Flu Virus Mutations Discovered In First Severe Human Case In US, CDC Says

    Authored by Katabella Roberts via The Epoch Times (emphasis ours),

    The U.S. Centers for Disease Control and Prevention has found mutations in samples taken from a man infected with the first severe case of avian influenza in the United States, mutations that were not present in specimens collected from his infected backyard flock.

    A person holds a test tube labeled “Bird Flu” in a photo illustration, on Jan. 14, 2023. Dado Ruvic/Reuters

    The agency began analyzing the samples after the patient—a resident of southwestern Louisiana, aged over 65—was confirmed last week as the first person in the United States with a severe case of H5N1 bird flu.

    In a Dec. 18 statement, the CDC said the man was infected with the D1.1 genotype of the virus that was recently detected in wild birds and poultry in the United States, and in human cases in British Columbia, Canada, and Washington state.

    The strain differs from the B3.13 genotype detected in dairy cows, human cases, and some poultry across the United States.

    According to a Dec. 26 update from the agency, an analysis of two respiratory specimens collected from the man showed low-frequency mutations in the hemagglutinin (HA) gene, the part of the virus that plays a key role in its binding to host cells.

    The mutations were not found in poultry samples collected on the patient’s property, suggesting the changes emerged in the patient after he became infected, the CDC said.

    According to the CDC, the mutations seen in the samples may result in increased virus binding to cell receptors found in the upper respiratory tract of humans.

    “Although concerning, and a reminder that A(H5N1) viruses can develop changes during the clinical course of a human infection, these changes would be more concerning if found in animal hosts or in early stages of infection (e.g., within a few days of symptom onset) when these changes might be more likely to facilitate spread to close contacts,” the CDC stated. “Notably, in this case, no transmission from the patient in Louisiana to other persons has been identified.”

    Risk to Public Remains Low: CDC

    While the mutations are rare, they have been reported in some cases in other countries and most often during severe infections.

    One of the mutations was also identified in another severe human case in British Columbia, suggesting it emerged as the virus replicated in the patient, the agency said.

    Despite the discovery of the mutations, the CDC said the risk to the general public remains low.

    The detection of a severe human case of bird flu with genetic changes in a clinical specimen “underscores the importance of ongoing genomic surveillance in people and animals,” the agency said.

    It also highlights the importance of containing bid flu outbreaks among dairy cattle and poultry and implementing prevention measures among people exposed to infected animals or environments, the CDC said.

    A total of 65 human cases of H5 bird flu have been reported in the United States since April 2024, according to the CDC.

    To help prevent exposure, health officials have urged people to avoid direct contact with sick or dead animals, particularly wild birds and poultry, and to wear personal protective equipment if contact is unavoidable.

    The agency also advises people not to touch surfaces or materials contaminated with the saliva, mucous, or animal feces of wild or domestic birds or other animals that may be infected with the virus.

    Reuters contributed to this report.

    Tyler Durden
    Fri, 12/27/2024 – 18:05

  • Mainstream Media Ignores Sectarian Killings In 'Liberated' Syria While Jolani Plays Nice For Cameras
    Mainstream Media Ignores Sectarian Killings In ‘Liberated’ Syria While Jolani Plays Nice For Cameras

    Since the rapid collapse of the Assad government and the takeover of Damascus by US-designated terror group Hayat Tahrir al-Sham (HTS) on December 8, Syrians by the hundreds or even thousands have been filmed in city streets celebrating, expressing hope for a new era.

    But for every scene of hundreds gathered in a city square in front of Al Jazeera or CNN cameras, the reality is that there are many tens of thousands more families holed up in their homes, deeply fearful of venturing outside, with the more fortunate ones having stocked up on supplies just prior to Abu Mohammad al-Jolani’s army of mujahideen fighters entering the capital.

    With the basically overnight and shock collapse of a state system earlier this month which had been in place for over a half-century, Syrians whether in Aleppo, Hama, Homs, Latakia, or Damascus have no clue which armed factions might be patrolling the neighborhoods just around the corner from their apartments.

    Illustrative: Prior scene in northern Syria earlier in the war. Jihadists mock a Syrian soldier’s cross necklace.

    A big looming dark fear is the possibility of “reprisal” killings meted out by the jihadists against any community, especially along religious lines, merely perceived as ‘loyalist’ or at least which never came out openly against the Assad government. We and others have been documenting that this is already taking place.

    Political alignment aside, all communities of the capital have historically been “Syria first”—that is, the common populace tends to frame identity foremost along nationalistic lines. The ideology of the conquerors, in their own words and patches/symbols on their tactical vests, are without doubt Takfirism, Salafism, and Wahhabism. This has been exhaustively documented over many, many years of the tragic proxy war in Syria – yet now suddenly Western leaders and media lackeys have ‘forgotten’ it all. Non-Sunni Muslims are especially being targeted, for nothing else other than religion and identity

    Mainstream media cameras in Damascus have been carefully trying to hide or at least downplay this reality. They present the euphoria of those few on the streets praising the ‘revolution’ and downfall of Assad while ignoring the many more who are bracing for a sectarian bloodbath at the hands of the jihadists.

    American correspondents have even been caught ‘coaching’ bearded militants waring ISIS patches on how to improve their image in front of an international audience… Watch: Syrian ‘Moderate Rebel’ Removes ISIS Patch At Prompting Of American Journalist.

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    This fear of being targeted for ethno-religious genocide is perhaps greatest among Christians, Alawites, and Druze. Dread or anxiety at what tomorrow will bring is also a reality among some business-oriented Sunnis of Aleppo and Damascus.

    Major urban centers in Syria had always had a definite secular and pluralist public vibe—with liquor stores and nightclubs a common sight in central areas—and women in the Islamic veil a little bit more of a rarity. Some liquor stores especially in Aleppo and the north have already been smashed and destroyed.

    Now, for the first time in Syria’s modern history, women who dare to venture out in the city center of Damascus are being asked their sectarian affiliation: Are you Sunni, Shia, Christian, Druze? Or else they are being told to put on the Islamic veil, by bearded militants from outside cities or villages, or worse who are from other countries. Latakia, as well as parts of the countryside, are already witnessing armed jihadist gangs conducting summary executions.

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

    Gruesome videos (too horrific to link to) are filling up social media platforms like X and Telegram, in some instances with unidentified victims being dragged to death behind vehicles.

    Others show HTS-linked factions or else foreign jihadist groups cleansing entire villages of ‘Nusayris’—a derogatory term for Alawites, which is ethno-religious background of the Assad family. Jolani’s officials have recently tried to urge for militants to not film their atrocities or upload them to the internet.

    * * *

    Rania Khalek is an independent journalist who has long reported from the region. Her contacts across Syria are telling her that the jihadists are killing civilians in various places far away from CNN or Al-Jazeera cameras. Below is a report she posted to X [emphasis ZH]…

    Some concerning developments in Syria that were being largely ignored or dismissed until horrific videos of sectarian violence and executions began emerging in recent days…

    In some mixed Syrian towns and villages as well as minority neighborhoods around Homs, Hama and on the coast, security was breaking down and people felt scared to speak about it, according to multiple contacts. The Hama-Homs highway had decapitated bodies strewn about, according to one contact. He wanted to take pictures of the bodies on the highway but he didn’t dare out of fear.

    At one roadblock they forced him to open his phone and they went through it. He said they spoke Arabic but it was a hybrid fusha accent he could barely understand. A contact reported being stopped by HTS at a barricade. He then had to wait for his business partner who is Sunni to come and vouch for him. Not a good sign.

    Flyers have been disbursed in multiple areas informing women how they should dress and act. Minorities in mixed villages have been subjected to robberies, killings, kidnappings, etc. Some have responded by organizing armed men to protect their neighborhoods from raids. This is not everyone’s experience of course. But these sorts of incidents were increasing. And they reached a fever pitch after the video of the destruction of an Alawite shrine surfaced.

    Reuters: “Rebel fighters ride in a vehicle after they seized Damascus and ousted President Bashar in Syria, December 9, 2024.”

    While the random violence and score settling speaks to the chaos that comes with a regime change like this, the sectarian violence is much more concerning. There are militias HTS either has no control over because they’re spread too thin or they don’t care to stop them. Some expressed that they suspect HTS is secretly calling the shots and then playing dumb.

    Whatever the case, there is deep distrust of HTS in many minority communities due to their past violence combined with recent events. “I don’t trust them at all, the fact that they are so insistent on collecting guns from people is so worrying, they even want licensed guns, and this is actually scary. They are always trying to appear as nice people talking about peace, but yet every day someone gets killed and they do nothing about it,” said one contact in Latakia.

    The sectarian violence is reminiscent of post 2011 days when the regime would be kicked out of an area and extremist militias would quickly take over and then chaos and sectarian violence would ensue. The pro-HTS side is framing any pushback or measure of self defense in vulnerable communities as Iranian-provoked or Assadist, which isn’t helpful and exacerbates the sectarianism. As the gun battles heat up, it’s hard to ignore the signs of potential civil unrest to come with violent zones of state collapse. I hope stability wins the day but it doesn’t look good.

    Tyler Durden
    Fri, 12/27/2024 – 17:40

  • State Lawmakers Say Drastic Change Needed To Make College Affordable, Worthwhile
    State Lawmakers Say Drastic Change Needed To Make College Affordable, Worthwhile

    Authored by Aaron Gifford via The Epoch Times,

    For millions of American college students, things can go from bad to worse in a hurry, as they take on long-term debt to finance higher education and earn a degree that, based on labor market demands, isn’t worth the paper it’s printed on.

    Data analyzed by a group of state lawmakers across the country indicates that significant changes are needed to the U.S. higher education system—still viewed as the envy of the world—if a college degree is going to remain the best path for long-term financial stability.

    “The public discourse on higher education … is filled with anxiety over a host of issues,” stated a recent report from the National Conference of State Legislatures (NCSL) Task Force on Higher Education.

    “The affordability of higher education tops the list.”

    The report was written by 29 legislators and four legislative aids across 32 states. The two-year project, completed in October, provides suggestions to college and university leaders and state and federal lawmakers for making college affordable and worthwhile.

    Task force chairs state Sens. Michael Dembrow from Oregon and Ann Millner from Utah discussed the report during a Dec. 20 virtual town hall event and pledged to lobby the federal government and universities to consider its recommendations in the years ahead.

    “It also cuts through some of the myths of higher education,” said Dembrow, a Democrat, while applauding the bipartisan effort. “It’s focused on what we can agree on first. I was surprised at how much we agreed.”

    Collective student debt in the United States is nearly $1.8 trillion, three times that in 2006, according to the report. The Consumer Financial Protection Bureau found that student debt is also the second-largest form of debt in the nation behind mortgages. One-third of borrowers have debt but no degree, reported the U.S. Department of Education.

    The population of undergraduate students declined by 2.4 million students between 2012 and 2022, and the vast majority of students attend public four-year institutions as many community colleges and private schools struggle to stay afloat, according to the report.

    Even though tuition and college costs have increased faster than the rate of inflation, the maximum federal Pell Grant award for eligible students has only increased by 10 percent since 2003, to $7,395 this year. And yet, the federal government spends more than $37,000 per student, or 2.5 percent of the U.S. Gross Domestic Product, compared to about $15,500 per K-12 student, the report says.

    The report found state education departments can expand dual-enrollment programs so students can earn more college credits while in high school and lessen the amount of time and money needed to complete a degree program after they earn their diploma. Higher education institutions, public and private, can help out with this initiative by being more transparent about what credits earned in high school will be counted toward program completion.

    The federal government, meanwhile, should require students to attend annual loan counseling sessions “and know their uptake on aid limits,” the report said.

    The report said colleges and universities could be more transparent by sharing their entire operating budgets to note how much employees are paid and why, and to spell out for students the total costs to attend their institutions full-time, not just the “net” total or average price students pay. The total for housing, meal plans, student services, and other items collectively totals far more than tuition.

    “Clearly communicate the real price students pay,” it said.

    “Assess program costs and prices against enrolled students’ income and career earning potential.”

    The report also suggests that federal block grants are available for states that are in a better position to invest in college and university programs that are more closely aligned with local and state workforce needs. Employers should be involved in writing courses of study and federally funded work-study programs that make students career-ready.

    The report said tuition costs should be reasonable and relative to the college or university’s program cost as well as the students’ incomes, career pathways, and earning potential.

    “The federal government, too, has a strong responsibility to enhance the value of degrees,” it said.

    Millner, a Republican, encouraged lawmakers in all states to read the report and meet with higher education leaders to discuss changes.

    “It builds a foundation to make a plan for higher education to thrive in states,” she said.

    Tyler Durden
    Fri, 12/27/2024 – 17:15

  • Marc Andreessen: 'Every Signal Is Being Sent' Trump DOJ Official Harmeet Dhillon Will Drop Hammer On Woke Corporations
    Marc Andreessen: ‘Every Signal Is Being Sent’ Trump DOJ Official Harmeet Dhillon Will Drop Hammer On Woke Corporations

    Billionaire investor and Donald Trump adviser Marc Andreessen thinks corporate culture is about to undergo a radical change. Speaking with Erik Torenberg on the Moment of Zen podcast, Andreessen said that the reign of extreme wokeness, particularly in corporate America and the media, is rapidly coming to an end.

    The catalyst? A combination of rising legal risks, the deflation of wokeness as a cultural force, and a change in leadership at the Department of Justice. Andreessen highlighted that with the appointment of Harmeet Dhillon to head the DOJ’s Civil Rights Division, the federal government may soon begin to challenge and reverse many of the DEI-driven policies that have dominated corporations, universities, and other large institutions over the past decade.

    This shift, he argues, could trigger a major pullback in DEI initiatives across the private sector, as companies scramble to comply with the law and distance themselves from policies that may now be seen as legally and culturally untenable.

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

    Erik Torenberg: You’re optimistic now that this reign of soft authoritarianism, aka extreme wokeness, is over. There’s a question of will it just come back again in four years? Now that Trump will take power, will they sort of summon the resistance antibodies again? Talk a little bit about your perspective.

    Marc Andreessen: I think that “wokeness is over” is a little bit too glib, and the main reason why that’s the case I think, you know, maybe is self-evident, which is basically the bureaucracies of corporate America and of the government and of nonprofits, foundations, schools, universities, the media companies, the press — basically, the big bureaucracies, what we refer to as sort of the managerial class. The cathedral, Curtis’ term, or James Burnham’s term, the managerial class, the managers who sort of run everything — and by everything being like basically all of the large incumbent institutions — like, wokeness has become standard policy, right? And in like every large organization in the country, like the mandate number one is be compliant, right? Whatever is required to be compliant is like holy, right? It’s like the thing that cannot be — you must be compliant. You must check off all the compliance boxes. Whether you win or not in the market is kind of optional, but you must be compliant. Whether you actually teach students anything is optional, but you must be compliant.

    Wokeness has become part of the compliance regime, also what they refer to wonderfully in great Orwellian terms as the ‘risk management regime,’ the ‘trust and safety regime.’ Yeah, you know, just take all these words and reverse them. This stuff has gotten wired very deeply, and then it’s been well-documented at this point that the foundation for a lot of what we call wokeness is actually baked deeply into the law. And a whole bunch of people have done great work, like Richard Hanania, Christopher Caldwell, and Wesley [Yang], who have all done great work in documenting kind of how deep this stuff is sort of embedded in the law, which is a whole other topic.

    There’s an institutionalization that took place that’s going to take optimistically 30 years to get out or something like that. And by the way, maybe never. Having said that, there’s that. But then there’s what we’ve been dealing with for the last decade, which is beyond that — which is sort of the idea of wokeness being like the cultural vanguard, yeah, and basically being the thing that’s like the coolest, highest-status, highest-fashion thing you can possibly be, and the thing that you have to be if you want to aspire to rise in the hierarchy and among the managerial class and run things. And then, if you want to get like really good press coverage, and if you want people to think that you’re a moral person—that whole thing.

    Then there’s the power component of it. I use the Tolkien metaphor here, the ‘ring of power,’ which is the ability to call somebody a bad name under the wokeness regime and like instantly vaporize them and blow them out of their job and take their job. Like those second parts are like, I think, fading very fast. And in a lot of ways, it’s sort of inevitable that would happen, because it’s just like in fashion, whatever is cool and trending now looks dated five or ten years later. And you wonder how people possibly could have worn bell bottoms or whatever. Like, you know, it’s that kind of phenomenon. And there’s no question, the election basically punched a giant hole in the side of that balloon, and it’s deflating incredibly quickly. And by the way, you see it in the reaction. You see it in the reaction to the election itself, which is the polar opposite reaction to 2016, which is just like complete deflation taking place. And I think wokeness is losing altitude quickly. But let’s come back to the legal part, because that’s also — there are very interesting things that might happen there that we could also talk about.”

    Erik Torenberg: Say more about this.

    Marc Andreessen: If you wanted to pick the most extreme possible attorney to put in charge of the Civil Rights division of the Justice Department to reverse DEI, it would be this lawyer named Harmeet Dhillon. She’s been a California lawyer and has been the scourge of woke corporations for the last decade. As it happens, she has just been appointed to run the Civil Rights division of the Justice Department. For those who don’t track this, the Civil Rights division of the Justice Department is the federal government’s prosecutorial arm that basically enforces wokeness. They’re the ones who have made sure that, for the last decade, these companies have had all these crazy policies under the penalty of being investigated, subpoenaed, and ultimately prosecuted.

    There have been lots of prosecutions and court cases. The most famous case that the current head of the Civil Rights division brought was the case against SpaceX for not hiring enough refugees—despite the fact that SpaceX is a military contractor and is not permitted to hire non-American citizens under a separate law.The person running that division has been a true activist, as you’d expect from this administration. And then Dhillon, who, by the way, I don’t know but I’ve been following for years, and is clearly brilliant, she is the exact opposite of that. Every signal is being sent that they’re going to do a 180 on all these things, and they’re going to begin prosecuting companies for violations of civil rights laws in the form of reverse discrimination—discrimination against white people, Asians, Jews, and other unprotected classes.

    So, signals are being sent by these appointments that there is going to be an assault to reverse the assault that companies and universities have been under. And then, of course, the Supreme Court ruled not that long ago that private universities are not allowed to do race-based admissions. It’s actually really funny because there’s some question as to whether the demographic shift of admissions in the last year was starkly different than the year before, as these institutions claim they’re coming into compliance with the Supreme Court. There’s some question as to whether discovery will show they’re actually in compliance or whether they’re still playing games. That’s another thing we may find out.

    There’s also an open question as to whether this decision has essentially already been made or will be made for private companies as well. And there’s a lot of private companies that have been trying to figure out quietly how to distance themselves from DEI, both for legal reasons and for cultural reasons. Now, there’s another very interesting thing kicking in. I think there are a lot of large companies that were already done with DEI to start with. They were done with DEI for their own reasons because it’s backfired in many spectacular ways. But now, any large company that wants to distance itself from DEI has the best reason in the world: compliance. It’s illegal.

    Let me just say for the record… I think every major corporation in the country is just in flagrant violation of actual civil rights law. You cannot have these hard quotas and racially, ethnically, and religiously biased hiring practices. It’s flat-out illegal. These companies have gone so extreme on this that they’ve ended up in what I think is clearly mass illegality. So, as Dhillon steps into her job, she’s not going to lack for a shortage of targets. If you don’t want to be a target, it’s a great ‘get out of jail free’ card to just voluntarily shut all this stuff down.

    My guess is that starting pretty quickly, we’re already starting to see it. Boeing and a bunch of other companies have already put a bullet in their programs. Even the University of Michigan, which went completely overboard with this stuff, has actually shut their whole thing down. I think we’re going to see, my guess is, a run of companies that will take dramatic action here.

    Watch the entire exchange here:

    Tyler Durden
    Fri, 12/27/2024 – 16:50

  • 15 Facts About The Growth Of Crime In The US That Will Blow Your Mind
    15 Facts About The Growth Of Crime In The US That Will Blow Your Mind

    Authored by Michael Snyder via TheMostImportantNews.com,

    We live in a high crime society.  Nobody can dispute that fact, and it has been this way for a long time.  But the crime wave that we have witnessed in recent years has been truly breathtaking.  Tens of thousands of gangs are running wild in our major urban areas, and the growth of those gangs has been supercharged during the past four years thanks to the reckless border policies of the Biden administration.  Now we have rampant lawlessness in our streets, and it certainly isn’t going to be easy to clean up this mess.

    The following are 15 facts about the growth of crime in the United States that will blow your mind…

    #1 The number of shoplifting incidents per year in the United States is up 93 percent compared to pre-pandemic levels…

    The average number of shoplifting incidents jumped 93% in 2023 compared with pre-pandemic times and monetary losses for retailers have risen 90%, according to the nation’s largest retail trade group.

    With its “Impact of Retail Theft & Violence 2024” study, the National Retail Federation (NRF) is highlighting the severity of this issue. For instance, despite the continuous efforts by retailers to combat such crimes and a growing number of states that have updated their laws to prosecute organized retail crime as felonies, the number of retail theft incidents continues to climb.

    #2 Bakersfield, California is the car theft capital of the country…

    Bakersfield is a city with less than half a million people, making it the 9th most populous city in California. It also has the distinction of having the most car thefts of any U.S. city.

    #3 Denver, Colorado is closing in on Bakersfield very quickly.  In fact, the car theft rate in Denver increased by 37 percent in just one year…

    Denver is the capital and most populous city in Colorado which incidently made the NICB’s hot spot list for the top state by number of auto thefts. Not only did Denver experience 964 thefts per 100,000 residents, but the theft rate increased by 37%. As with most places, Kia and Hyundai vehicles make up a large percentage of those cars stolen.

    #4 When it comes to car theft, Pueblo, Colorado only ranks third, but a 47 percent increase in just one year has it climbing the chart fast…

    Well south of Denver and with a much smaller population, the city of Pueblo takes the third spot on our list. The city experienced auto theft at a rate of 891 per 100,000 residents. Additionally, the theft rate increased by a whopping 47% in one year. Pueblo police cite driver apathy as a reason behind the record levels of theft.

    #5 According to the FBI, more than 14 million crimes are reported in the United States each year…

    The FBI released detailed data on over 14 million criminal offenses for 2023 reported to the Uniform Crime Reporting (UCR) Program by participating law enforcement agencies. More than 16,000 state, county, city, university and college, and tribal agencies, covering a combined population of 94.3% inhabitants, submitted data to the UCR Program through the National Incident-Based Reporting System (NIBRS) and the Summary Reporting System.

    #6 There are more than 1.9 million people sitting in our prisons…

    Further complicating matters is the fact that the U.S. doesn’t have one criminal legal system; instead, we have thousands of federal, state, local, and tribal systems. Together, these systems hold over 1.9 million people in 1,566 state prisons, 98 federal prisons, 3,116 local jails, 1,323 juvenile correctional facilities, 142 immigration detention facilities, and 80 Indian country jails, as well as in military prisons, civil commitment centers, state psychiatric hospitals, and prisons in the U.S. territories — at a system-wide cost of at least $182 billion each year.

    #7 The U.S. has the largest prison population in the world by a very wide margin.  We have approximately 5 percent of the world’s population, but we have approximately 25 percent of the world’s incarcerated population.

    #8 According to the FBI, 33,000 criminal gangs are operating inside the United States today…

    Some 33,000 violent street gangs, motorcycle gangs, and prison gangs are criminally active in the U.S. today. Many are sophisticated and well organized; all use violence to control neighborhoods and boost their illegal money-making activities, which include robbery, drug and gun trafficking, prostitution and human trafficking, and fraud. Many gang members continue to commit crimes even after being sent to jail.

    #9 Collectively, it has been estimated that those gangs have about a million members.

    #10 Gangs account for about 80 percent of the violent crimes that are committed in the U.S. each year.

    #11 In 2023, there were 127,436 rapes reported in the United States.

    #12 For the most recent year that we have data, it was being estimated that more than 550,000 U.S. children “were victims of abuse and neglect”…

    An estimated 558,899 children (unique incidents) were victims of abuse and neglect in the U.S. in 2022, the most recent year for which there is national data.

    #13 If you can believe it, there are 795,000 registered sex offenders in this country.

    More than 795,000 people were listed on state sex offender registries as of August 2024. This is about 8,000 more people than in 2023.

    #14 There are 75,710 registered sex offenders in the state of Texas.

    #15 There are 60,615 registered sex offenders in the state of California.

    What in the world is wrong with us?

    What would cause people to behave this way?

    At this point, our society is literally teeming with evil.  In my brand new book entitled “Why”, I take a look at the root causes that motivate people to do what they do.  It isn’t an accident that our society has gone completely and utterly nuts.  It is simply a result of cause and effect.

    As a society, we have been doing the wrong things for a very long time, and so now we have a giant mess on our hands.

    Let us hope for better things in 2025, because right now lawlessness is thriving all around us.

    *  *  *

    Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

    Tyler Durden
    Fri, 12/27/2024 – 16:25

  • Biden Unveils Bigger 'Surge' In Arms To Ukraine, With Just 3 Weeks Till Trump Sworn In
    Biden Unveils Bigger ‘Surge’ In Arms To Ukraine, With Just 3 Weeks Till Trump Sworn In

    The last week has seen sustained major Russian strikes involving drone and missile barrages targeting Ukraine’s energy infrastructure. This followed a Ukrainian drone strike on a Russian residential building in Kazan, which is far away from the front lines.

    Wednesday alone saw Russia fire some 170 drones and missiles at Ukrainian energy infrastructure, causing several deaths and widespread power outages. “The purpose of this outrageous attack was to cut off the Ukrainian people’s access to heat and electricity during winter and to jeopardize the safety of its grid,” Biden commented in the aftermath.

    With a little over three weeks to go until President-Elect Donald Trump enters the White House, President Biden has ordered a ‘surge’ in US weapons to the Zelensky government. 

    Via Reuters

    “In recent months, the United States has provided Ukraine with hundreds of air defense missiles, and more are on the way,” Biden said, and stressed:

    “I have directed the Department of Defense to continue its surge of weapons deliveries to Ukraine, and the United States will continue to work tirelessly to strengthen Ukraine’s position in its defense against Russian forces.”

    Biden also sought to emphasize the holiday the timing of the attack – though it should be noted that the Orthodox Church in both Russia and Ukraine observe Christmas on December 25th according to the Julian calendar, which is January 7th on the civil calendar. Thus Christmas in the region is actually still a week-and-a-half away…

    “Launching large-scale missile and drone attacks on the day of the Lord’s birth is wrong,” Biden asserted. “The world is closely watching actions on both sides. The U.S. is more resolved than ever to bring peace to the region.”

    Thursday saw Russian Foreign Minister Sergei Lavrov responding to Biden’s warnings by saying the Kremlin could still order attacks on Ukraine’s decision-making centers.

    “We select targets for strikes on the territory of Ukraine, proceeding solely from threats to Russia. These may be military facilities and defense enterprises,” Lavrov said. “Decision-making centers in Kiev can also quite be such targets,” he added.

    On Friday White House national security official John Kirby announced that the US is set to approve yet another security package for Ukraine as part of the ‘surge’ in arms. The Associated Press details Friday afternoon:

    The United States is expected to announce that it will send $1.25 billion in military assistance to Ukraine, U.S. officials said Friday, as the Biden administration pushes to get as much aid to Kyiv as possible before leaving office on Jan. 20.

    The large package of aid includes a significant amount of munitions, including for the National Advanced Surface-to-Air Missile Systems and the HAWK air defense system. It also will provide Stinger missiles and 155 mm- and 105 mm artillery rounds, officials said.

    But by many accounts on the ground, Ukraine’s chief disadvantage lies more in severe manpower shortages in the face of the advancing Russians. This extra surge in weaponry is not expected to make a big difference on the battlefield. 

    Tyler Durden
    Fri, 12/27/2024 – 15:40

  • MEGA '25: How Trump Can Make Ethereum Great Again In 2025
    MEGA ’25: How Trump Can Make Ethereum Great Again In 2025

    Authored by Tom Mitchelhill via CoinTelegraph.com,

    Ethereum’s Ether has been marred by under-performance over the last 18 months, seeing Bitcoin and a swathe of other alternative layer-1 coins, including the likes of Solana and Sui, dramatically outperforming it. 

    While ETH has gained 88% in the last 18 months, SOL has posted a 1,040% gain, and SUI has rallied 448% in the same timeframe. 

    “ETH got sandwiched in 2024 between two shiny objects: Bitcoin, which attracted a huge amount of institutional interest, and Solana, which gained traction with retail investors. ETH was the odd man out,” Bitwise chief investment officer Matt Hougan told Cointelegraph.

    However, many crypto pundits believe the election of Donald Trump in the United States and the expected crypto-friendly stance of key agencies under his new administration could mark the turning point for the performance of Ether in the crypto market. After all, the incoming president’s family launched its own decentralized finance (DeFi) project, World Liberty Financial, on the chain.

    Experts are looking at a swathe of new developments for a bullish stance on ETH heading into 2025, ranging from the demise of “financial nihilism” to a complete overhaul of the US Securities and Exchange Commission, positive regulatory developments, Ether exchange-traded fund (ETF) staking, and increased Commodity Futures Trading Commission (CFTC) oversight of crypto. 

    Alternative layer-1 coins like SOL and SUI have drastically outperformed ETH. Source: TradingView

    “Ethereum is poised to benefit more [from a Trump win] than other protocols, especially since it’s just a lot bigger and more mature than all the other ecosystems other than Bitcoin, which is mature but narrow in its purview,” Consensys CEO Joe Lubin told Cointelegraph at Devcon 2024.

    At the same time, the gloss has started to come off Solana, whose SOL token peaked at an all-time high of $264 a month ago but has since retreated to $192 amid concerns over looming token unlocks.

    End of crypto’s financial nihilism

    One of the big factors weighing heavily on Ethereum’s price has been the aggressive approach of regulators toward alleged securities violations by ecosystem projects including Uniswap, Consensys, Lido and Rocket Pool. Memecoin projects, meanwhile, have been largely overlooked by the SEC.

    A related issue is the disillusionment of crypto natives who were dumped on by venture capitalists during the brutal bear market. Many have turned to fair-launch memecoins and other hyper-speculative assets with little utility. Ikigai Asset Management founder and chief investment officer Travis Kling calls this phenomenon “financial nihilism.”

    In a March 12 essay, Kling said financial nihilism gives little if any importance to “fundamentals” or any notion of an underlying “value proposition.”

    “Financial Nihilism goes hand in hand with Populism – a political approach that strives to appeal to ordinary people who feel that their concerns are disregarded by established elite groups.”

    “The underlying drivers of Financial Nihilism and Populism are the same – this system is not working for me, so I want to try something very different (e.g., buy SHIB or vote for Trump),” wrote Kling.

    However, Ethereum is sold almost entirely on its fundamentals and utility. Advocates repeatedly make the claim that the blockchain network and its ecosystem of layer 2s stand as the future of legitimate, programmable digital money, smart contracts and decentralized financial activity. 

    Trump’s SEC overhaul is good for DeFi

    Saul Rejwan, managing partner of crypto venture capital firm Masterkey, says Trump’s pro-crypto stance could see financial nihilism fall out of favor as legitimate projects are encouraged by regulators rather than hit with endless Wells notices from the SEC. 

    On Dec. 4, Trump tapped pro-crypto businessman and former SEC Commissioner Paul Atkins as his nominee for the next SEC chair, with current Chair Gary Gensler set to resign from the agency on Jan. 20. 

    The SEC will be losing three of its Democratic commissioners under Trump, with Jaime Lizarraga set to leave the agency on Jan. 17 and, more recently, the Senate Banking Committee canceling the renomination vote of crypto-skeptic commissioner Caroline Crenshaw on Dec. 17.

    As the ruling party, the Republicans would typically appoint a majority of three commissioners, but the rapid-fire resignations and cancellations open the SEC up to a possible line-up of four Republican-appointed, crypto-friendly commissioners if Trump breaks protocol.

    Rejwan told Cointelegraph that legitimate sectors of the crypto industry, specifically DeFi and decentralized physical infrastructure (DePIN), stand to benefit most from the new administration and a more crypto-friendly SEC.

    “DeFi projects will thrive under a more favorable regulatory environment. Sectors like restaking just need a little regulatory push to hook institutional investors,” he said.

    “We expect this new leadership to lower barriers to entry and make it easier for early-stage crypto entrepreneurs and resilient firms to innovate and thrive.”

    The Gensler-led SEC under the Biden administration has been famously hostile to DeFi, with the regulator bringing Uniswap, the largest decentralized exchange on Ethereum, into its sights earlier this year. 

    The SEC has proposed expanding the definition of what qualifies as an exchange in the Exchange Act of 1934, explicitly arguing it should include crypto market participants in DeFi.

    Anoop Nannra, CEO of Trugard Labs, said he expects the SEC to undergo a complete overhaul of its enforcement actions and policy directions, saying crypto assets are slated to be classified as “property” under the new administration.

    “I’ve heard from several people within Trump’s orbit that property rights are a critical issue for this administration and that this is actually going to be the calling card for the Republican party’s position on crypto,” he said.

    “I expect to see a complete revamp of the SEC’s position based on this.”

    On Dec. 19, the Token Alliance — which incoming SEC Chair Paul Atkins was co-chair of — met with staffers for SEC Commissioners Hester Peirce and Mark Uyeda and issued its list of priorities. It requested that the agency denounce the controversial 2018 “Hinman speech” and formally withdraw a series of rules that deemed DeFi players to be seen as “exchanges” by law.

    The Token Alliance has asked the SEC to walk back a swathe of anti-crypto policies. Source: The Digital Chamber

    Nannra said he also expects the CFTC will soften to digital assets as well and that the SEC will engage in more discussions with the CFTC moving forward. 

    “I expect to see the CFTC take a more progressive position on crypto as well, further re-aligning the oversight powers between the SEC and the CFTC,” Nannra said. 

    SEC vs. CFTC: Does FIT21 even matter?

    Many pundits believe that the Financial Innovation and Technology for the 21st Century Act (FIT21) — a bill that was passed through the House in May — would be central to the alignment of the CFTC and the SEC on crypto. 

    In short, the bill sought to introduce a federal framework for crypto regulation, pull back some of the SEC’s authority over digital assets, and hand over regulation of spot crypto markets to the CFTC instead. 

    Because Ether has also been deemed a commodity by the CFTC, several pundits have previously asserted that FIT21 could be highly beneficial for Ethereum from a policy perspective. 

    But now, with the change in the regulatory landscape, it raises the question of whether or not the FIT21 bill would be necessary or even desirable anymore. The bill may end up becoming just an unnecessary policy bargain made during a hostile time for crypto assets. 

    In a Nov. 15 client alert, lawyers from legal firm Brownstein noted the bill had stalled but would likely “serve as the starting point for legislative efforts in the new Congress.”

    Regardless of whether FIT21 passes, Trump is reportedly considering handing the CFTC oversight over crypto during his upcoming term, which would also classify most crypto projects as commodities if they meet certain criteria.

    If the CFTC is given regulatory control of crypto, it could come as a win for the industry, which has long signaled that the agency would be its preferred regulator — with the CFTC widely seen as having a “lighter touch” on regulation. 

    What legal changes can we expect to see under Trump?

    Crypto lawyer Robert Nupp told Cointelegraph that the launch of the Trump dynasty’s World Liberty Financial was one the biggest “soft” endorsements of Ethereum, DeFi and real-world crypto projects. It has already purchased millions of dollars worth of ETH, Chainlink LINK$22.18 and Aave AAVE$326.14.

    Nupp believes many within crypto are actually underestimating the positive impact of Trump on the industry. 

    “Right out of the gate, they’re going to be extremely helpful to crypto.”

    Source: Lookonchain 

    According to Nupp, Trump is using World Liberty Financial as a beacon to show the world exactly how he intends to deal with crypto when he becomes president.

    “He’s basically signaling to the world that it’s okay to do this going forward in his administration,” he said.

    Nupp also tipped the Trump administration to move extremely quickly on crypto, pointing out Trump’s close ties with Elon Musk and the appointment of David Sacks as crypto and AI czar as evidence of the pace he will set.

    “It’s going to be a blitzkrieg.”

    ETH staking yields could come to ETFs 

    SEC Commissioner Peirce has already flagged the potential of revisiting decisions to block in-kind redemptions for crypto ETFs and to add staking for the Ether ETFs.

    “If it changes from a majority of commissioners who don’t want things to go through to a majority of commissioners who do want things to go through, then yeah, it’s easier,” she said.

    The ETF issuers — including Fidelity, 21Shares, and Franklin Templeton — have all requested the addition of staking, which currently yields approximately 3.1% per year, according to Staking Rewards. 

    “We believe, under a new Trump 2.0 crypto-friendly SEC, ETH staking yield will likely be approved,” Bernstein said, predicting that growing network activity on Ethereum could see rewards “juice up” to 4%–5%. 

    Ethereum boasts a 3.11% staking reward rate as of Dec. 24. Source: Staking Rewards

    It doesn’t take much to connect the dots on why an ETF offering native yield would be bullish for the underlying asset, particularly in an economic landscape where the US Federal Reserve is looking to drop interest rates further in 2025.

    “In a declining rate environment, ETH yield can be quite attractive. The yield feature in ETFs would also leave some spread for asset managers,” Bernstein said, adding that this would improve ETH’s economics and introduce further incentives to push ETH ETFs to institutional investors. 

    Tyler Durden
    Fri, 12/27/2024 – 15:20

Digest powered by RSS Digest

Dec 27

Today’s News 27th December 2024

  • DEI And The CIA
    DEI And The CIA

    Authored by Bernard Hudson via The American Mind,

    The radical racial ideology has infiltrated the Agency…

    Under the best of circumstances, it is difficult for any intelligence service to collect, analyze, and produce actionable, predictive data for a nation’s leadership. This task is made considerably harder when lockstep adherence to a fringe political ideology is imposed upon the workforce tasked with carrying out this challenging mission.

    Unfortunately, this is the situation the Central Intelligence Agency and other agencies of the U.S. Intelligence Community are in: to America’s detriment, their leadership enthusiastically imposed Diversity, Equity and Inclusion ideology upon their employees.

    To underscore how deeply DEI has metastasized inside the host, in a recent enlightening and publicly available statement, the CIA’s Chief DEI officer said there are three criteria by which an intelligence officer can be promoted at America’s most important foreign intelligence service. Only one of them is related to mission impact.

    The others are a rather vague “corporate mindset”—and DEI.

    Of the three, adherence to the cant of DEI is the most important; those who do not vocally and unreservedly support it are denied promotions and meaningful assignments. Like rallies held by authoritarian regimes, you do not want to be the first to stop clapping at the approved, serial pronouncements.

    It’s ironic that a CIA created to oppose the Soviet Union would embrace the ideological straitjacket that is DEI, an enterprise that uncomfortably mirrors the USSR’s political commissars. Guardians of the party’s orthodoxy, the commissars were coequal with the leadership inside the government agencies where they were assigned, holding considerable sway over who was promoted and who got what assignments. While they were successful for some time in keeping the ruling clique in power, their endless purity tests and unreviewable power helped breed endemic cynicism among the government workers who had to play along to keep their jobs. It accelerated the systemic, institutional incompetence that plagued the Soviet Union to the end of its unlamented run.

    Since DEI, the uniquely American take on the USSR’s commissar system, has been imposed on the Intelligence Community, there has been sufficient time to evaluate its impact on its mission, which is the only metric by which any intelligence service’s value should be measured. Using that standard, there are three conclusions we can draw about the effect DEI has had—and none of them are positive.

    First, DEI does not fill a gap in the law; it is a quota system masquerading as equal opportunity. It is important to recall that the DEI enterprise has been imposed upon a federal workforce that already operated under long-existing regulations which mandate fair treatment of all employees. The modern U.S. Intelligence Community had successfully built an environment where anyone could succeed, provided they were willing to work hard and make sacrifices, two concepts one almost never hears uttered by DEI’s most vocal proponents.

    As it has come to be practiced, one of DEI’s major outputs has been to combine the outside consultant’s mania for numbers with the fervor of heresy-seeking.

    At every administrative level, the modern IC seeks to know and document the race, sexual orientation, county of national origin, disability, and age of anyone seeking promotion or a new assignment. This information is apparently formally incorporated into every Human Resources panel, which has determinative power over the vast majority of assignments and promotions. Findings which do not match the vague and ever-changing standards are almost certainly identified as requiring remedy. (Of course, vague and unreviewable standards are the hallmark of how DEI is practiced within the federal government.) The remedy frequently imposed involves adjusting the recommendations of promotion and assignments panels to make them compliant with the current orthodoxy. This means that assignments, promotions, and opportunities will go to individuals less qualified than other candidates in order to serve the alleged greater good.

    Second, as it is driven by a core belief that much within institutions is oppressive and unfair, DEI fuels an institutionally distracting grievance culture. Because it seeks to measure personnel outcomes based more on fringe identity politics than on mission impact, it provides a ready-made tool for anyone to challenge a strictly merit-based promotion and assignments system. Anyone who has served at a senior level in the federal government understands (even if they will not publicly speak of it) that there is a wide disparity between the top performers in their workforce and the bottom quintile.

    Because DEI prioritizes identity, including self-identity, over mission impact, it has tended to encourage a culture where the least capable workers demand the most of the senior management’s time and attention. Rather than focus on supporting the top performing employees who drive outsized gains in every human institution (including federal agencies), senior managers must constantly navigate an ever-growing number of grievance claims—many of dubious validity and any of which, if mishandled, could harm or derail that senior official’s career.

    This creates a peculiar work environment, where the senior-most managers are increasingly evaluated more through the lens of how their less capable and more aggrieved employees view them, rather than by the mission value those senior managers bring to the challenging task of understanding and clandestinely confronting America’s adversaries.

    Finally, DEI is a thought-and-sentiment-monitoring mechanism, allowing a fraction of the IC’s non-operational and non-analytical workforce to reach into any level of an organization and assess the personnel and operations of that office against DEI’s blurry and ever-changing goals. Combined with the grievance-seeking culture which is always DEI’s fellow traveler, it creates an informant culture which seeks out alleged non-compliance at every level of an organization with a zeal that would impress the early Soviet Union’s counter-intelligence apparatus.

    It is almost certainly less career threatening in the modern CIA to dispute findings related to the plans and intentions of America’s key foreign adversaries than it is to show anything less than full support for the DEI apparatus. No doubt or heresy will go unnoticed or unaddressed. It is not unreasonable to assume that, for senior managers, many types of mission failure would probably be more survivable than being assessed as unsupportive of DEI.

    The tragedy is that the CIA, and the broader IC, have incredible capabilities, but none of those are enhanced by the dangerous, fringe orthodoxy that is the modern DEI machine. Abolishing that apparatus will improve the only metric that should matter when evaluating an intelligence service: how well it collects and produces foreign intelligence and how effectively it gives America’s enemies pause.

    Tyler Durden
    Thu, 12/26/2024 – 23:30

  • Visualizing How US Household Incomes Have Changed Over The Past 50 Years
    Visualizing How US Household Incomes Have Changed Over The Past 50 Years

    This chart, via Visual Capitalist’s Pallavi Rao, tracks the share of U.S. households by annual income bracket from 1967 to 2023.

    All annual income is in 2023 dollars, adjusted for inflation, but not for cost of living differences.

    Data is sourced from the Census Bureau, published 2024.

    Americans Are Making More Money Than Ever Before

    Incomes for American households have grown quite a bit in the last six decades.

    In 1967, nearly one-third of households made less than $35,000 a year (adjusted to 2023 dollars), and in 2023, that’s fallen to one-fifth.

    Here’s the share of households per income bracket for every year since 1967. Categories have been combined from the original source and all figures are rounded. As a result percentages may not sum exactly to 100.

    Year Under $35K $35K–100K $100K-200K Over $200K
    1967 31.3 54.4 12.7 1.7
    1968 29.7 54.4 14.3 1.6
    1969 29.1 52.8 16.2 1.9
    1970 29.6 52.3 16.2 2
    1971 30.2 51.8 16.1 1.9
    1972 29.1 50.4 18.0 2.5
    1973 28.6 49.4 19.3 2.7
    1974 28.9 50.4 18.3 2.4
    1975 30.4 50.1 17.2 2.2
    1976 29.7 49.7 18.3 2.4
    1977 29.8 48.7 18.9 2.6
    1978 28.8 48.3 20.0 3.0
    1978 28.8 48.3 20.0 3.0
    1979 28.4 48.4 20.1 3.1
    1980 29.8 48.0 19.4 2.7
    1980 29.8 48.0 19.4 2.7
    1980 29.8 48.0 19.4 2.6
    1981 30.4 47.9 19.1 2.6
    1982 30.6 47.6 18.7 3.1
    1983 30.4 47.3 19.2 3.2
    1984 29.5 46.6 20.4 3.6
    1985 29.0 46.4 20.8 3.8
    1985 29.0 46.4 20.8 3.8
    1986 28.0 45.5 22.0 4.5
    1987 27.8 45.1 22.5 4.7
    1988 27.2 45.2 22.6 5.0
    1989 26.9 44.7 23.1 5.4
    1989 26.9 44.7 23.1 5.4
    1990 27.1 45.5 22.4 5.1
    1991 28.0 45.1 22.0 4.9
    1992 28.8 44.2 22.1 4.9
    1993 28.7 44.1 21.8 5.4
    1994 28.6 43.7 22.0 5.8
    1995 27.4 44.0 22.8 5.8
    1996 27.2 43.2 23.4 6.3
    1997 26.3 43 23.8 6.9
    1998 25.1 42.6 24.7 7.7
    1999 24.6 41.6 25.5 8.3
    2000 24.2 41.8 25.5 8.6
    2001 24.9 41.9 24.9 8.4
    2002 25.2 37.1 25.1 8.1
    2003 25.7 41.0 24.8 8.4
    2004 25.6 41.4 24.6 8.4
    2005 25.2 41.5 24.6 8.8
    2006 24.6 41.3 24.9 9.2
    2007 24.6 40.9 25.3 9.1
    2008 25.9 40.7 24.6 8.8
    2009 26.1 41.4 24.0 8.8
    2010 27.1 40.6 23.7 8.6
    2011 27.3 41.4 23.0 8.4
    2012 27.4 40.8 23.4 8.4
    2013 26.8 39.6 23.6 9.8
    2014 26.8 39.8 23.7 9.8
    2015 25.3 39.0 25.2 10.5
    2016 24.2 39.5 24.9 11.5
    2017 23.8 38.7 25.4 12.1
    2018 23.0 39.2 25.6 12.3
    2019 21.0 38.0 26.5 14.6
    2020 21.8 38.1 25.8 14.2
    2021 22.7 37.1 25.7 14.4
    2022 22.7 38.5 26.0 12.9
    2023 21.0 38.1 26.5 14.4

    Meanwhile, the other end of the spectrum is seeing growth in the bracket size. In 1967, fewer than 2% of American households made more than $200,000 per year. In 2023, that number had risen to 15%.

    Of course, there’s an increase in labor to also be accounted for. Six decades ago, only one-third of all U.S. households had all parents working. By 2009, the situation had reversed.

    What This Chart Doesn’t Tell Us

    Lastly, looking at incomes is only one half of the story. It doesn’t account for how prices of goods and services have changed relative to growing incomes.

    Houses for example cost about 3x the median income in 1967, and in 2022 cost nearly 6x the median income.

    However, the vast majority of consumer goods are much cheaper now, relative to incomes, due to how manufacturing has moved out to other parts of the world.

    Food is also much cheaper, dropping from 15% of household income in 1967, to around 7% in 2022 – the year when record food inflation had pushed prices up.

    Naturally, incomes vary quite a lot across the country. Check out Mapped: Median Income by State in 2024 to see by how much.

    Tyler Durden
    Thu, 12/26/2024 – 23:00

  • Home Alone: Why America Is Dealing With A Severe Epidemic Of Loneliness Right Now
    Home Alone: Why America Is Dealing With A Severe Epidemic Of Loneliness Right Now

    Authored by Michael Snyder via The Economic Collapse blog,

    We live in a society where a significant chunk of the population feels painfully alone much of the time.  It is an epidemic that has enormous mental, emotional and spiritual implications, and it is one of the clearest signs that we are a society that is coming apart at the seams.  One of the primary reasons why there is so much loneliness in our society is because the institution of the family is in decline.  Today, the proportion of the population that is single and childless is at an all-time high, and the proportion of the population that is married with children is at an all-time low.  How can anyone possibly claim that we are headed for a bright future when we are facing such alarming societal trends?

    According to the U.S. Census Bureau, 40 percent of Americans report feeling lonely at least some of the time…

    The latest version of the US Census Bureau’s Household Pulse Survey — a broad gauge of the economic and social issues affecting American households — found some not-so-surprising news: Americans are lonely.

    The survey conducted between August 20 and September 16 reported that 1 in 8 people (12.6%) was feeling lonely either “always” or “usually,” including nearly a quarter (23.3%) of the younger population (those aged 18 to 29). Since the Household Pulse Survey at the start of the year, slightly more people are now feeling lonely a lot of the time. 40% of people reported feeling lonely at least sometimes.

    Those are very troubling numbers.

    But of course others that have studied our epidemic of loneliness have come up with similar numbers.

    In fact, a report put out by the U.S. Surgeon General concluded that close to half of the U.S. population experiences feelings of loneliness…

    Last year, the US Surgeon General released a worrying report about the deep sense of loneliness that many Americans are experiencing. The report, “Our Epidemic of Loneliness and Isolation,” found that approximately 50 percent of adults in the country are feeling lonely, and that people of all ages are spending significantly less time with others.

    The findings have profound implications for the health of the country. Being lonely or socially isolated puts people at heightened risk for a number of serious illnesses—the report estimates it to be the health equivalent of smoking fifteen cigarettes a day—including depression, cardiovascular disease, and dementia.

    Those that feel lonely on a regular basis are far more likely to develop serious illnesses, and they are far more likely to die early.

    So this is a crisis that we should be taking very seriously.

    One survey actually discovered that the proportion of men that do not have any close friends has increased “fivefold since 1990”…

    Who are the loneliest people in America?

    American men were said to be in a “friendship recession,” with a survey finding the number of men without any close friends increased fivefold since 1990.

    Have you ever wondered why so many older Americans seem so sad much of the time?

    Well, now you know.

    People are yearning for human connection, and Google search trends prove this…

    So it’s no wonder there’s been a rise in running clubs, knitting groups, pickleball, and more, as people search — quite literally — for ways to meet new people. Google searches for terms like “how to meet people” and “where to make friends” are at or near an all time high.

    Somewhere along the way, something has gone horribly, horribly wrong.

    And I believe that it starts with the institution of the family.

    In 1940, just 7.7 percent of all U.S. households were one person households, but by 2020 that figure had jumped to 27.6 percent…

    Over a quarter (27.6%) of all U.S. occupied households were one-person households in 2020, up from just 7.7% in 1940, according to recently released 2020 Census data.

    The share of people living alone increased every decade from 1940 to 2020 (Figure 1). The largest increase happened between 1970 and 1980, when the share increased from 17.6% to 22.7%.

    We were not meant to live alone.

    But now more Americans than ever are doing just that.  Just look at this insane chart…

    Sadly, this decade that trend has continued.

    According to the U.S. Census Bureau, right now 29 percent of all U.S. households are one person households…

    In 2024, there were 38.5 million one-person households, which was 29% of all U.S. households. In 1974, one-person households represented only 19% of all households.

    The reason why there are so many one person households now is because almost half of all U.S. adults are not married…

    From nationalsinglesday.us, “Did you know that 46.4% of U.S. adults are single according to the U.S. Census Bureau? That’s 117.6 million unmarried Americans – nearly every other adult aged 18 and over. This includes those who are divorced or widowed as well as those who have never married. National Singles Day is observed each year during Unmarried and Single Americans Week.”

    More than ever before, Americans are rejecting traditional norms regarding marriage and family.

    In fact, the proportion of the population that is single and childless now exceeds the proportion of the population that is married with children.  A chart that Brad Wilcox just posted absolutely blew me away…

    The chart above makes it abundantly clear that we are a dying society.

    Our birth rate has been under replacement level for a long time because so many Americans don’t want to get married and don’t want to have children.

    Sadly, our entire culture has become anti-marriage, anti-family and anti-children to a very large degree.

    If we do not reverse the insidious trends that have corrupted our culture, we have no hope of defeating the epidemic of loneliness that we are currently facing.

    Humans are meant to love and to be loved, and that is one of the reasons why the traditional family unit is an absolutely vital societal institution.

    *  *  *

    Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

    Tyler Durden
    Thu, 12/26/2024 – 22:30

  • Mark Zuckerberg Denies Hawaii 'Doomsday Bunker' Existence, Calls It A "Little Shelter
    Mark Zuckerberg Denies Hawaii 'Doomsday Bunker' Existence, Calls It A "Little Shelter

    Bloomberg’s Emily Chang asked Meta CEO Mark Zuckerberg in an exclusive interview at their estate in Lake Tahoe about a 4,500-square-foot underground structure – considered by some as a ‘doomsday bunker‘ – at his 1,500-acre ranch in Kauai, Hawaii. 

    Chang asked: “You do have a bunker there; is there something you know that we don’t?” 

    Zuckerberg’s response was priceless because he denied it was a doomsday bunker, calling it a “little shelter … basement.” 

    The billionaire said his whole ranch “got blown out of proportion as if it was some kind of doomsday bunker, which is just not true.” 

    In late 2023, Wired revealed that Zuckerberg’s bunker was around 4,500 square feet, equipped with a “blast-resistant door” and enough food for the tech bro and friends to survive an apocalypse. 

    So, what does Zuckerberg know about future world events coming down the pipe?

    Well, read Free Press Jay Solomon’s latest note, “Is World War III Already Here?”

    Not everyone is a billionaire who can afford the luxury of a custom bunker. However, Zillow recently listed an affordable option: a bunker in an old missile silo in Missouri with EMP shielding and one in Kansas for under a million dollars. 

    Tyler Durden
    Thu, 12/26/2024 – 22:00

  • The State Isn't Santa Claus, It's The Grinch!
    The State Isn't Santa Claus, It's The Grinch!

    Authored by Joshua Mawhorter via The Mises Institute,

    Santa Claus is a magical and benevolent figure who is able to produce and distribute gifts to children every Christmas Eve at no cost to the recipients.

    But many economists and people in the general public mistake the political state for Santa Claus for failure to recognize the nature of government and one of the most basic rules of economics – a government has no resources of its own and cannot “give” with one hand what has not first been taken by the other.

    In a recent Mises lecture, Joseph Salerno elucidated how politicians, many mainstream economists, and the general public operate according to the fallacious “Santa Claus principle” rather than the economic realities of scarcity, opportunity cost, trade-offs, production preceding consumption, and the nature of intervention. Salerno explains,

    The central principle of economics is that the means for improving human well-being—what economists call “goods”—are naturally scarce and must be produced before they can be used to satisfy human wants. The scarcity principle also implies that, once produced, goods cannot be bestowed on one person without depriving some other person or persons of their use. In other words, there is no such thing as a free lunch. The state and its friends reject the scarcity principle and uphold its polar opposite, the Santa Claus principle… (emphasis added)

    Government, by its very nature, cannot act as Santa Claus. It does not have a magical source of production and distribution of goods, it can only expropriate the prior production of others. All its actions of “production” are really acts of consumption and rearrangement of resources. Also quoted by Dr. Salerno, Mises and Fredric Bastiat, respectively, express the same principle,

    …[at] the bottom of the interventionist argument there is always the idea that the government or the state is an entity outside and above the social process of production, that it owns something which is not derived from taxing its subjects, and that it can spend this mythical something for definite purposes. This is the Santa Claus fable raised by Lord Keynes to the dignity of an economic doctrine and enthusiastically endorsed by all those who expect personal advantage from government spending. As against these popular fallacies there is need to emphasize the truism that a government can spend or invest only what it takes away from its citizens…

    While government has no power to make people more prosperous by interference with business, it certainly does have the power to make them less satisfied by restriction of production. (emphasis added)

    Here the public, on the one side, the state on the other, are considered as two distinct entities, the latter intent upon pouring down on the former…a veritable shower of human felicities [like Christmas gifts]…. The fact is the state does not and cannot have one hand only. It has two hands, one to take and the other to give…. Strictly speaking, the state can take and not give…. [because] its hands… always retain a part, and sometimes the whole, of what they touch. But what has never been seen, what will never be seen and cannot even be conceived, is the state giving the public more than it has taken from it…. (emphasis added)

    Dr. Salerno, Mises, and Bastiat all expose the often “unseen” costs of government intervention. The government is not and cannot be Santa Claus. Unlike Santa, governments necessarily must coercively extract scarce resources prior to distributing “gifts” to anyone.

    Mises used Santa Claus several times as a way to teach economic realities. Politicians, several economists and economic schools of thought (e.g., especially those in the current vogue MMT school), and the general public need to learn that that state is not and cannot be Santa Claus. Mises said that, “No government, whether democratic or dictatorial, can free itself from the sway of the generally accepted ideology.” Thus, a danger in popular government and democracy is “the [widespread proliferation of] doctrines which aim at substituting the Santa Claus conception of government.”

    What is more subtle, however, is that many politicians, economists, and laymen somewhat understand literal scarcity and trade-offs, but most do not understand the complex, painstaking development and importance of a capital structure. Thankfully, one does not have to understand the capital structure to benefit from it, but the presumption of the existence and maintenance of a capital structure can lead a society to assume it as a given and decide on policies of large-scale capital consumption which lead to economic destructionism. Says Mises,

    The Santa Claus fables of the welfare school [and others] are characterized by their complete failure to grasp the problems of capital. It is precisely this defect that makes it imperative to deny them the appellation welfare economics with which they describe their doctrines. He who does not take into consideration the scarcity of capital goods available is not an economist, but a fabulist. He does not deal with reality but with a fabulous world of plenty. All the effusions of the contemporary welfare school are, like those of the socialist authors, based on the implicit assumption that there is an abundant supply of capital goods. Then, of course, it seems easy to find a remedy for all ills, to give to everybody “according to his needs” and to make everyone perfectly happy.

    Mises sensibly realized that the social philosophies justifying interventionism and believing that the state was Santa Claus terminate in distortions of the price and capital structure, waste, and economic regression. Eventually, by assuming the Grinch was really Santa, Christmas is “stolen.” Mises explains the inevitable conclusion of such philosophies,

    An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole doctrine of interventionism collapses when this fountain is drained off. The Santa Claus principle liquidates itself.

    The Grinch!

    No, the state is not Santa Claus. In fact, the state is more akin to the Grinch!

    The Grinch hated the Whos down in Whoville and their yearly exuberant celebration of Christmas, thus he hatched a plan to steal from the Whos everything Santa brought, everything pertaining to Christmas, and even their other possessions. Having a change of heart (by it growing three sizes), the Grinch returned the gifts and possessions to the Whos. He was treated as a hero and benefactor, and even invited to participate in their Christmas celebration. We can assume that the Whos did not really believe that the Grinch had furnished them with gifts by returning stolen goods, but rather honored his penitence.

    What lessons are we to learn from the Grinch? That a returner of stolen goods is heroic? What if—being tricked by his return of stolen items—the Whos thought the Grinch was awesome, a generous benefactor of gifts at no cost to them?

    They would—like the general public and many so-called economists—be duped into believing that the expropriator who had taken their production and possessions, then returned them, was a magical Santa Claus-figure who could magically distribute gifts. At least the Grinch only did this once, felt remorse, returned everything he had taken, did not do it again, did not attempt to deceive the Whos into thinking that he was an independent, magical gift-giver, and did not morally lecture the Whos into believing that all he did was to their benefit.

    On the other hand, the state takes regularly, keeps part of what it takes even as it rearranges and “gives,” allows people to think that government provides these “gifts,” and that this is all for the benefit of the recipients.

    Tyler Durden
    Thu, 12/26/2024 – 21:30

  • Ranking The Most Satisfying Vs Most Reliable Car Brands In 2024
    Ranking The Most Satisfying Vs Most Reliable Car Brands In 2024

    This graphic, via Visual Capitalist’s Marcus Lu, visualizes data from recent Consumer Reports surveys on car brand satisfaction and reliability.

    Rivian, BMW, and Tesla were the three most satisfying brands in 2024, but far from the most reliable. In terms of reliability, Japanese brands like Subaru, Lexus, and Toyota came out on top.

    Data and Key Takeaway

    The underlying data behind these rankings is listed in the tables below.

    Satisfaction is represented as the share of owners who would buy another car from the same brand, while reliability is based on Consumer Reports’ proprietary survey data.

    Note: several brands were left out due to insufficient data. These are: Alfa Romeo, Chrysler, Dodge, Fiat, Infiniti, Jaguar, Land Rover, Lincoln, Lucid, Maserati, Mercedes-Benz, Mini, Mitsubishi, Polestar, Porsche, Ram.

    A key takeaway from this data is that owner satisfaction isn’t necessarily tied to reliability. For example, both EV brands in this survey (Tesla and Rivian) scored very highly in satisfaction, but poorly in reliability.

    On the other hand, brands like Acura and Mazda rank highly in reliability, but lower in satisfaction.

    There are limitations to this data, of course. Satisfaction is highly subjective and prone to bias (e.g. Rivian is a new brand that caters to a specific demographic), while reliability is a complex metric that can be difficult to properly gauge.

    Rivian satisfies, Volkswagen disappoints

    Consumer Reports also highlights which brands satisfy owners within specific areas. Rivian ranked the highest in terms of comfort, usability, and ownership costs (which are typically lower for EVs).

    Meanwhile, Volkswagen ranked the lowest in terms of driving experience and usability. Audi, another VW group brand, ranked lowest in terms of cabin storage.

    It’s interesting to note that Rivian and Volkswagen have recently joined forces to share EV platform technology.

    If you enjoyed this graphic, check out Global Car Production by Country on Voronoi, the new app from Visual Capitalist.

    Tyler Durden
    Thu, 12/26/2024 – 21:00

  • Bangladesh's Graft Probe Into Its Russian Nuclear Power Plant Is Politically Motivated
    Bangladesh's Graft Probe Into Its Russian Nuclear Power Plant Is Politically Motivated

    Authored by Andrew Korybko via substack,

    Bangladesh’s new US-backed ruling arrangement initiated a graft probe into their country’s Russian-built Rooppur Nuclear Power Plant (RNPP) on the basis that former Prime Minister Sheikh Hasina and her relatives allegedly embezzled $5 billion from this $12.65 billion project financed 90% by Russian loans.

    Rosatom immediately denied these accusations and claimed that they’re just a means to discredit Russia’s top investment in Bangladesh. Here’s their full statement as reported by TASS:

    “Rosatom is committed to a policy of openness and the principle of combating corruption in all its projects and maintains a transparent procurement system. External audits regularly confirm the openness of the business processes of the project. Rosatom State Corporation is ready to defend its interests and reputation in court. We consider false statements in the media as an attempt to discredit the Rooppur NPP project, which is being implemented to solve the country’s energy supply problems and is aimed at improving the well-being of the people of Bangladesh.”

    This analysis from over the summer about how “The West Can’t Compete With Russia’s ‘Nuclear Diplomacy’”, which was written in response to the Financial Times’ attack at the time against the RNPP, explains more in detail how Rosatom empowers its partner countries through preferential terms. The latest graft allegations are therefore indeed meant to discredit this project, but there’s more to them that’ll now be touched upon in this analysis.

    The new ruling arrangement in Bangladesh seized power with the US’ support by orchestrating a Color Revolution that briefly turned into a spree of urban terrorism before toppling the government. It’s accordingly indebted to its patron and incapable of making any major decisions without its approval. This latest policy of investigating alleged graft connected to the RNPP is merely a ploy for achieving several objectives simultaneously.

    These are discrediting Hasina; discrediting Russia; possibly inflicting serious financial damage upon the aforesaid if the new ruling arrangement refuses to pay back most of Bangladesh’s loan on this pretext; discrediting Rosatom; and thus giving the US an unfair edge in its NPP competition with Russia. This faux investigation is already being exploited by Western media to misportray Russia and its state NPP company as corrupt, which works to the benefit of their American and other Western competitors.

    The purpose is to create a false precedent that can then be weaponized to scare other countries away from doing business with Rosatom on the basis that doing so would cast aspersions on that government’s commitment to anti-corruption practices. Those that want to build NPPs will then be pressured to consider more expensive Western contracts with worse terms in order to avoid the negative Western coverage that would accompany choosing Rosatom instead.

    Any government that still decides to do business with Rosatom over its Western competitors will then have to brace itself for an intense Western information warfare campaign that’ll be lent false credibility by the involvement of Western-financed “NGOs” within their society. They’ll aim to mislead average folks about the government’s integrity by reminding them of the false RNPP precedent to make people think that their leaders are also plotting to siphon off billions from their publicly financed deal with Russia.

    A low level of unrest might follow that could then be scaled appropriately depending on the authorities’ response such as if they resort to forceful measures for restoring control in the event that a riot erupts. That’s not to say that a Color Revolution will immediately follow the clinching of any agreement with Rosatom, but just that whichever governments still decide to do business with them will have their reputations impugned through these means and this could then fuel more unrest at a later date.

    Bangladesh’s new ruling arrangement shouldn’t go along with their American patrons’ games since the country truly needs the affordable energy that’ll be generated by the RNPP. Throwing this strategic project’s future in jeopardy as a favor for being placed into power is arguably treasonous since it works against their country’s objective national interests for the sake of advancing a foreign one’s. Hopefully they’ll realize the damage that they’re inflicting on Bangladesh and reconsider this politicized probe.

    Tyler Durden
    Thu, 12/26/2024 – 20:30

  • 80% Believe Global Temps Will Rise In 2025, See More Extreme Weather Events
    80% Believe Global Temps Will Rise In 2025, See More Extreme Weather Events

    If the last years have shown us anything, it’s that a lot can change, fast.

    While many events cannot be foreseen, can others?

    Ipsos asked more than 23,700 people across 33 countries about their predictions for the coming year, with a survey on topics ranging from technology to the environment and world security.

    This data is based on one survey alone and although it does not focus on additional knowledge of experts and analysts, it does capture a snapshot of sentiments and standpoints in different countries and regions.

    As Statista’s Anna Fleck shows in the following chart, many people around the globe seem to be in agreement over the likelihood of global temperatures set to rise.

    Eight in ten respondents said that next year, we can expect the world to warm further still. This belief was most widespread in Indonesia (91 percent), the Philippines (89 percent) and Malaysia (88 percent).

    In a similar vein, more than seven in ten (72 percent) of respondents said they expect to see more extreme weather events in the country that they live in than last year.

    Infographic: What Will Happen in 2025? | Statista

    You will find more infographics at Statista

    Meanwhile, many respondents were doubtful over whether the government in their country would introduce more demanding targets to reduce carbon emissions more quickly, with only 52 percent of respondents saying it was likely authorities would act in such a way.

    Respondents in China were the most optimistic about this prospect (84 percent).

    Views on whether the conflicts currently raging in the Middle East and Ukraine will come to an end in 2025 were pessimistic. Only around two in ten people thought it would be the case in the Middle East. In Ukraine, closer to three in ten thought the same, but this still marks a four percentage point drop on predictions from the same time one year ago. Just one in three people worldwide thought that people in their country would become more tolerant of one another, marking a fall of two percentage points since last year.

    In terms of the online world, nearly two thirds of respondents said that they expect AI will replace jobs in their country in 2025.

    At the same time, 43 percent agreed that AI will lead to many new jobs being created in their country. When asked whether respondents thought that many more people will live in virtual worlds next year, 59 percent of respondents agreed it likely would be the case – up from 56 percent in 2022.

    Tyler Durden
    Thu, 12/26/2024 – 20:00

  • Azerbaijan Airlines Flight Reportedly Hit By Russian Missile On Christmas Day
    Azerbaijan Airlines Flight Reportedly Hit By Russian Missile On Christmas Day

    Azerbaijani government sources told Euronews on Thursday that a Russian surface-to-air missile hit Azerbaijan Airlines Flight J28243, ultimately causing the plane to crash during an emergency landing attempt in the Kazakhstani city of Aktau shortly thereafter.

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    A Russian SAM was fired at the Embraer ERJ-190 during a drone swarm above Grozny, the capital city of Chechnya, Russia. The SAM detonated near the commercial jet and unleashed a spray formation of shrapnel that damaged the plane’s rear fuselage and flight controls. 

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    Here’s more from the media outlet:

    Government sources have told Euronews that the damaged aircraft was not allowed to land at any Russian airports despite the pilots’ requests for an emergency landing, and it was ordered to fly across the Caspian Sea towards Aktau in Kazakhstan.

    According to data, the plane’s GPS navigation systems were jammed throughout the flight path above the sea.

    Shortly after the Embraer ERJ-190 crashed in Aktau on Christmas Day, footage of the wreckage emerged on X, and that’s when internet sleuths began to notice “traces of shrapnel on the rear fuselage section of the aircraft.” 

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    The flight-tracking website Flightradar24 posted altitude and vertical speed data indicating the plane “struggled to maintain altitude for more than an hour.“

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    It is suspected that the SAM’s shrapnel spray pattern damaged the Embraer ERJ-190’s vertical stabilizer, horizontal stabilizer, and elevators—possibly explaining why the normal landing configuration might not have been achieved.

    This resulted in an aggressive landing approach, contributing to a steep glide slope that led to the hard landing and eventual crash.

    Tyler Durden
    Thu, 12/26/2024 – 19:55

  • The Weaponization Of Information And Digital Tools To Occupy And Derail Your Mind
    The Weaponization Of Information And Digital Tools To Occupy And Derail Your Mind

    Authored by Chris Martenson via PeakProsperity.com,

    Dr. Robert Malone discusses his book “Psywar,” exploring fifth-generation warfare, psychological operations, narrative control, societal impacts, and the challenges of discerning reality in a manipulated information landscape.

    Like all of us, Dr. Robert Malone and his wife Jill had to grope around for understanding during the early days of Covid.  What began as a diligent effort to help the world cope with a novel disease, soon turned into a disconcerting series of discoveries and unpleasant personal and professional experiences.

    Dr. Malone’s journey toward understanding the true origins and purposes of Covid and into the public eye began with a phone call in early January 2020. A retired CIA operative alerted him to a novel coronavirus in Wuhan, prompting Malone to mobilize his team to assess the threat.

    His rapid assessment of the coronavirus landscape revealed the bleak history of vaccine development for coronaviruses, promptly leading him to focus on drug repurposing as a more viable strategy.

    However, Malone immediately encountered unprecedented resistance to publishing his findings on drug repurposing.  He recently told me in the podcast (lined here and below) that “it was exceedingly difficult to get anything published concerning drug repurposing for this particular virus,”

    As our conversation unfolded, Malone shared how his realization of the broader forces at play developed.  One thing led to another, policies contradicted known facts, vaccine harms were buried, and there was no official curiosity in challenging any of this or doing better.

    He soon discovered that these weren’t errors, but reflected a coordinated effort to control the narrative, a strategy that had been pre-planned, as evidenced by exercises like Event 201. This realization was a turning point for Malone, marking his entry into the realm of psychological operations, or “Psywar,” as he titled his latest book.

    Covid, you see, was an opportunity for a hodge-podge of government agencies and affiliated private corporations to practice weaponized narrative control.  The tools of their trade are ridiculously powerful, especially when directed against people who are highly educated and/or utilize abstract thinking as part of their professional lives.

    The entire suite of activities fits under the umbrella of 5th-generation warfare where the target is your mind, the very basis of perception.

    The topics of ‘misinformation, disinformation, and malinformation’ are some of the terms of the trade, while nudging, shadowbanning, bad jacketing, sockpuppets, and censorship are a few of the tactics and tools.

    Malone has done a deep dive into 5th-generation warfare illuminating coordinated efforts to delegitimize dissenting voices and how these tactics were being deployed globally, particularly against those questioning the mainstream COVID-19 narrative.

    It was both impersonal and very personal. “It destroyed my consulting business,” he told me in our interview. 

    It both targeted everyone impersonally, but also specifically ruined the careers of many dissident voices.

    Throughout our discussion, Malone emphasized the importance of understanding the tools and tactics of psychological warfare. “Does it provide immunity to know what’s being done to you?” he pondered, with the conclusion being that while awareness may not offer complete protection, it certainly helps in coping with immunizing against the psychological impact of such operations.

    PsyWars are very real, ongoing, and certain to become ever more powerful as AI supercharges and shortens the learning cycle of the manipulators.   Much of their campaigns to distract, distort and confuse is either completely automatic, or soon will be.

    And the effects are devastating.  Families have been torn apart as political differences are now juiced by weaponized information tactics.  Workplaces have fractured.  Trust is eroded and sometimes gone, as is the case with my own trust in the medical system.

    None of that was organic, a point Robert and I discuss in this podcast.

    Key Data

    • There are over 7,000 peer-reviewed publications on overcoming vaccine hesitancy, illustrating the extensive research into messaging strategies.

    • The Trusted News Initiative was reoriented in 2019 to manage disinformation about vaccines, highlighting preemptive narrative control efforts.

    Implications

    • The deployment of psychological warfare technology against citizens challenges the concepts of free agency and consent to the governed.

    • Individuals may struggle to discern reality from manipulated narratives, leading to increased skepticism and distrust.

    Recommendations

    • Be aware of the psychological tactics used in media and question the sources of information.

    • Engage in critical thinking and seek diverse perspectives to better understand complex issues.

    Watch the Video

    Tyler Durden
    Thu, 12/26/2024 – 19:30

  • Walmart Continues To Be The World's Largest Company By Revenue
    Walmart Continues To Be The World's Largest Company By Revenue

    Collectively, the world’s 10 largest companies by revenue generate roughly $4.6 trillion in annual sales, exceeding the GDP of countries like Japan and Germany.

    Over the past five years, corporate balance sheets have swelled amid robust consumer demand, recovering economies, and strong labor markets. At the same time, stock markets have become increasingly concentrated, with the largest companies gaining market share through pricing power and economies of scale.

    This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the top 10 Fortune Global 500 companies since 2019, based on data from Fortune. For the rankings, Fortune included public and private companies that report financial data. The latest 2024 ranking is based on total revenues in companies’ fiscal years ending on or before March 31, 2024.

    Ranked: The World’s Leading Corporate Giants by Revenue

    Below, we show the largest firms by revenue around the world:

    Walmart, with over 10,600 stores worldwide, has maintained its position as the world’s largest company by revenue for 12 consecutive years.

    With slim profit margin of just 2.4%, Walmart is increasingly focused on digital advertising revenues. Today, Walmart commands 6.8% of U.S. retail ad spend, which is projected to reach $3.7 billion in 2024. Over the past two quarters, Walmart’s ad revenue growth has exceeded Amazon, driven largely by a growing number of marketplace sellers.

    As America’s second-largest retailer, Amazon follows next in line, with $574.8 billion in revenues. Since 2019, revenues have more than doubled, driven by 310 million global customers using its online marketplace.

    However, Amazon Web Services (AWS), fuels the majority of earnings given its high profit margins and strong growth. Today, AWS commands 31% of the global cloud services market.

    Ranking in third is Chinese utility firm, State Grid, the largest employer in the world. The state-owned firm has regularly stood in the top 10 rankings, given its expansive global reach. Today, the utility giant has investments in projects across Australia, Brazil, Portugal, Italy and the Philippines.

    Overall, Apple has the healthiest profit margins among the top 10 countries, at 25%. It is followed closely by oil giant Saudi Aramco, whose cheap production costs and vast oil reserves led profit margins to reach 24% in the latest fiscal year.

    To learn more about this topic from a market cap perspective, check out this graphic on the world’s 25 largest companies by market capitalization in 2024.

    Tyler Durden
    Thu, 12/26/2024 – 19:00

  • Clashes Erupt In 'The New Syria' After Locals Ambush & Kill HTS Fighters
    Clashes Erupt In 'The New Syria' After Locals Ambush & Kill HTS Fighters

    Via The Cradle

    Clashes raged in Syria on Thursday between the remnants of the Syrian Arab Army (SAA) and the currently-ruling Hayat Tahrir-Sham (HTS) extremist group several hours after over a dozen HTS militants were killed in the western Tartous governorate.  

    Violent armed clashes were recorded by citizens in Tartous on Thursday. Video footage also showed positions of the SAA’s 25th Division stationed in the Latakia mountains in western Syria. 

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    HTS-led authorities announced on Thursday that they confiscated weapons belonging to former government soldiers in the Damascus countryside.

    HTS’s Military Operations Administration has launched a security operation to confiscate SAA weapons and arrest “those who incite” sedition, according to a source from Syria’s new Ministry of Interior cited by Al-Watan newspaper. 

    Fourteen HTS militants and three armed men were killed in combat Wednesday evening in Tartous, in what was initially reported as an ambush by former government loyalists and soldiers. 

    Syria’s Interior Minister Mohammad Abdul Rahman confirmed on Thursday the killing of 14 HTS security personnel and the injury of 10 others carried out by “remnants of the former regime.”

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    According to UK-based war monitor the Syrian Observatory for Human Rights (SOHR), the HTS militants were killed while trying to arrest an officer linked to the former government-run Sednaya prison – where thousands of prisoners were released after the fall of Bashar al-Assad’s government on December 8. 

    The incident came as unrest quickly spread across Syria in the past 24 hours after protests by Alawite citizens erupted across the country due to the emergence of a video showing the burning and desecration of an Alawite shrine by extremist militants. 

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    Some reports said the undated video is new, while others said it dates back to the start of the 11-day offensive that began late last month and resulted in the collapse of the Assad government. 

    The video shows the resting place of Hassan bin Hamdan al-Khusaibi, a highly revered Alawite figure, on fire. The militants reportedly killed several people present inside the shrine. Their bodies can be seen in the footage. 

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    Protests also stemmed from the killing of five Alawite judges in the Hama countryside on December 24. Syrian Christians have been protesting as well, triggered mainly by the burning of a Christmas tree in Hama days ago by foreign militants under HTS’s command. 

    A curfew was imposed by authorities in Homs in response to the Alawite demonstrations, in which protestors were reportedly attacked by security forces of the new government, causing deaths and injuries. 

    Clashes between locals and HTS-led authorities have left around nine dead.

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    Alawite demonstrators have been detained and humiliated on camera. 

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    …welcome to the ‘new Syria’ after its ‘liberation’ following a decade plus long NATO-Gulf backed proxy war.

    Tyler Durden
    Thu, 12/26/2024 – 18:30

  • 9-Year-Old Arrested In Baltimore For Armed Carjacking, Robbery Spree
    9-Year-Old Arrested In Baltimore For Armed Carjacking, Robbery Spree

    If you want another reason to avoid the crime-ridden Democratic stronghold of Baltimore City, well, look no further than mobs of kids running around and committing senseless armed carjackings.

    Local news Fox Baltimore reports three juveniles, including a 9-year-old, and two adults were arrested last Sunday in connection to an armed carjacking near the 3900 block of East Lombard Street. 

    “Once there, officers spoke with a 32-year-old woman who stated while stopped at a stop sign at Grundy at Bank Street, four male suspects approached her vehicle. One suspect, described as a white male, produced a metal tool, smashing her window. The suspect then proceeded to drag the woman from the vehicle and fled the location in the victim’s car,” the local outlet said. 

    Officers arrested a 21-year-old man, a 15-year-old boy, a 19-year-old man, a 16-year-old boy, and a 9-year-old boy after a short foot pursuit. The 21 and 16-year-olds were taken to the Central Booking Intake Facility, while the 15-year-old was taken to the Department of Juvenile Services. The 9-year-old was released to his parents.

    In a separate report, Fox Baltimore warned listeners in the area about an epidemic of juvenile carjackings plaguing the metro area. 

    Violent crime, chaos, homicides, drug overdoses, robberies, de-industrialization, and high taxes under decades of radical leftists in City Hall have transformed the once-beautiful city into a lawless metro that, quite honestly, ‘The Wire 2.0’ should be filmed again… 

    Lawless chaos… 

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    All this chaos has sparked a massive citywide exodus of residents, moving to surrounding counties or elsewhere, plunging the latest Census population data for the metro area to a 100-year low. Smart money has been leaving for decades. 

    Fiscally irresponsible policies rammed through Annapolis by far-left Democrats are set to tip the state known for crabcakes, football, and murders into a “deep recession.” 

    Tyler Durden
    Thu, 12/26/2024 – 18:00

  • What Was So Different This Time About Trump's Election?
    What Was So Different This Time About Trump's Election?

    Authored by Victor Davis Hanson via American Greatness,

    In the weeks before the 2016 Trump Electoral College victory, Trump was polling between 35 and 40 percent.

    He would average only about 41 percent approval over his tumultuous four-year tenure.

    No one knows what lies ahead over the next four years. But for now, Trump already polls at well over 50 percent approval.

    Trump’s inauguration in a few weeks likely will not resemble his 2016 ceremony.

    In the 2016-7 transition, Democratic-affiliated interests ran commercials urging electors to become “faithless” and thus illegally reject their states’ popular votes and instead elect the loser, Hillary Clinton.

    Massive demonstrations met Trump on Inauguration Day.

    In less than four months after assuming the presidency, Special Counsel Robert Mueller was appointed to investigate the hoax of Russian collusion.

    That wasted 22-month, $40 million investigation found no collusion but did derail the first two Trump years.

    What followed the collusion ruse was a consistent effort to undermine the Trump presidency—two subsequent impeachments, the laptop “disinformation” hoax, the COVID-19 nationwide lockdown, and news suppression of any mention of the Chinese lab origin of the virus or questioning the closing of schools.

    In the Trump administration’s last summer of 2020, 120 days of riot, arson, looting, assault, and murder followed, with the denouement of the January 6 turmoil.

    In contrast, during the 2024-2025 transition, Trump has all but assumed the presidency. Over 100 foreign leaders have elbowed each other to be invited to Mar-a-Lago or to phone in their congratulations to the newly elected Trump.

    Remember that in 2016 the left screamed “Logan Act” if a Trump transition appointee even talked with foreign officials.

    So why is newly elected Trump a veritable cultural hero in 2024 in a fashion unimaginable eight years ago when the media had rendered him a near demon?

    One, Trump is now seen as a welcome relief.

    A departing and unpopular Joe Biden will leave with about a 36 percent approval rating.

    The prior Biden years are now seen as abnormal, if not disastrous.

    The left’s cultural revolution championed fringe policies never quite seen before: destroying the border, welcoming in 12 million illegal aliens, nihilist critical race and legal theories, institutionalizing a third sex, and mandating woke/DEI quotas and indoctrination sessions.

    Yet Biden had inherited from Trump a secure border, an economy rebounding after the COVID quarantines, 1.23 percent inflation, no wars abroad, and cheap energy.

    Four years later, the outgoing Biden administration is widely unpopular. Almost every one of its policies polls below 50 percent.

    In response, Trump promises not just to restore his first-term success but to expand it.

    Two, Trump personally remains transparent, upbeat, and energetic—eager to meet with anyone, anytime, anywhere, to talk about anything.

    His energy offers a sharp contrast with the era of the non-compos-mentis Biden. The change is welcomed by an electorate exhausted by past presidential stumbling, wandering, incoherence, mind freezes, and angry, “get-off-my-grass” aged fragility.

    Three, Trump is grudgingly admired, now even by some of his enemies who once sought but failed to destroy him.

    He endured two impeachments, five civil and criminal court indictments, incessant lawfare, a 95% negative media, attempts to remove him from states’ ballots, and two assassination attempts.

    Yet all these unprecedented hostile efforts to end Trump may only have made him stronger—and more empathetic when seen as a target of increasingly fanatical enemies.

    Four, Trump has expanded his MAGA base and permanently branded it as an ecumenical movement that welcomes shared class interests rather than fixates on the tired old tribal racial and ethnic chauvinism.

    Trump also brought in disaffected Democrats, independents, and minorities in a way the Democrats could not with the evaporating and bitter Never Trump dead-enders.

    Trump’s veritable campaign menagerie of RFK, Jr., Tulsi Gabbard, Elon Musk, Joe Rogan, Dana White, and Kid Rock made it impossible for the left to demonize MAGA Republicans as right-wing aristocrats, warmongers, or laissez-faire capitalists.

    Fifth, the endorsements of the Biden-Harris legacy media, calcified Hollywood endorsers, blowhard university faculties, and tech barons proved overrated.

    It was trumped by more popular and dynamic internet influencers, podcasters, bloggers, and maverick entrepreneurs.

    Sixth and finally, Trump himself proved more experienced and reflective than in 2016. His team too was more disciplined and street smart, led by savvy chief of staff Susan Wiles.

    2024 saw truly pivotal moments of Trump as everyman—posing for a mug shot after being railroaded by a weaponized lawfare indictment, serving McDonald’s drive-through customers, riding in a garbage truck cab, and raising his fist and yelling “fight, fight, fight”—after having his head near blown off by a would-be assassin.

    Add all of these once unimaginables up, and the people trusted more—and liked better—the Trump reboot than grouchy Joe Biden or inane, inauthentic Kamala Harris and their shared extremist agendas.

    Tyler Durden
    Thu, 12/26/2024 – 17:30

  • "Doesn't Fit MSM Narrative": Latest Arctic Ice Data Shows 26% Larger Than 2012 
    "Doesn't Fit MSM Narrative": Latest Arctic Ice Data Shows 26% Larger Than 2012 

    Climate realist Tony Heller took to X to highlight the climate misinformation and disinformation campaigns waged by far-left corporate media on the global public.

    Heller referenced a 2007 BBC News article titled “Arctic summers ice-free ‘by 2013’,” which warned readers of the supposed threat that “latest modeling studies indicate northern polar waters could be ice-free in summers within just 5-6 years.”

    The BBC article’s baseless claim was designed to instill climate fears across the public to ram through a radical de-growth climate agenda across the Western world. 

    Heller then cited NOAA Sea Ice Extent data of the Arctic from Sept. 16, 2012, and Sept. 7, 2024, and found:

    “This year’s minimum Arctic sea ice extent was 26% larger than 2012. @BBCNews said the Arctic would be ice-free by 2013.” 

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    2012 NOAA Sea Ice Extent data

    2024 NOAA Sea Ice Extent data

    “They keep this info out of the news because it doesn’t serve the narrative…,” one X user commented.

    *  *  *

    Tyler Durden
    Thu, 12/26/2024 – 17:00

  • Dave Collum's 2024 Year In Review, Part 1: What Is A Fact?
    Dave Collum's 2024 Year In Review, Part 1: What Is A Fact?

    Authored by David B. Collum, Betty R. Miller Professor of Chemistry and Chemical Biology – Cornell University (Email: dbc6@cornell.edu, Twitter: @DavidBCollum),

    Dave Collum’s annual Year in Review covers a wide range of topics including finance, geopolitics, conspiracy theories, healthcare, energy, and cultural issues, with a focus on skepticism towards mainstream narratives and the potential for significant societal and economic shifts.

    Every year, David Collum writes a detailed “Year in Review” synopsis (2023, 2022, 2021, 2020, 2019, 2018) full of keen perspective and plenty of wit. This year’s is no exception, with Dave striking again in his usually poignant and delightfully acerbic way.

    Click here for a PDF version of this report!

      Part 1

      • Contents
      • Introduction
      • My Year
      • Podcasts
      • Healthcare
      • Gold and Silver
      • Investing
      • Inflation
      • High Valuations and Broken Markets
      • Electric Vehicles and Green Energy

      Part 2 (Coming Later This Week)

      • News Nuggets
      • Paris Olympics
      • Law and Order
      • Trump Assassinations
      • COVID-19 and the Vaccines
      • College
      • Climate Change
      • World War II and FDR: A Revisionist History
      • The Election
      • Books

      Part 3 (Coming in January of 2025)

      • Free Speech
      • Woke Culture and Rising Neo-Marxism
      • Borders and Illegal Immigration
      • Transgenderism
      • Human Trafficking and Geopolitics

      Introduction

      I have the advantage of having found out how hard it is to get to really know something.

      ~ Richard Feynman

      What is a woman?

      ~ Matt Walsh

      We have reached crisis levels of doubt. It is The Age of Unenlightenment or what Brett Weinstein calls the Cartesian Dark Ages.ref 1 NSA analyst and radical Islam expert Stephen Coughlin says he no longer knows who is calling the shots.ref 2 How do you know what is a fact? AI-generated images and videos have reached near-perfection. The pathological liars in the mainstream media spew agitprop for the pathological liars inside the beltway, all backed by the pathological liars of the Deep State running the fact-check programs.

      I use the Deep State phrase first introduced by Berkeley scholar Peter Dale Scott as a catch all to avoid wading through all the possible three- and four-letter agencies domiciled in multiple countries that might be the culprit du jour. A more pejorative and colloquial synonym, “The Blob”, was coined by Obama but has only recently begun trending. If this is all new to you, check out Mike Benz on the Joe Rogan Experience for a crash course (#2237).ref 3

      My frustration levels soar when I try to provide what I believe is an uncomfortable truth and my victim responds, “I Googled it, and you are wrong.” Oh for fuck’s sake: how many Deep-State-sponsored fact-checkers told you that? It feels like we are suffering from a non-kinetic assault from somebody using Sun Tsu’s Three Warfares Doctrine: psychological warfare, media warfare, and legal warfare.ref 4 I have no idea where this is coming from, but I have ground my brain to mush trying to understand why so many of our leaders show no evidence of foundational beliefs in the American Experiment. Paul Harvey nailed it in his 1965 diatribe, “If I Were the Devil.”ref 5 Take the three minutes to listen. When finished, ask what Paul would add to a 2024 revision.

      Walter Kirn: I feel that my information gathering system is broken.

      Matt Taibbi: Yup. I feel the same way.ref 6

      There are days in which I yearn for the return of the era of frontier justice. You couldn’t afford to be a dickweed in the olden days because it was too easy for someone to lay waste to you when nobody was looking. Throughout this document you will be introduced to people and ideas that make you wish some form of justice would return. I have a solution. We try to use the justice system under the new administration, but if that fails, we round up some of the most serious miscreants—I’m thinking Fauci et al., a few Soros-funded prosecutors in the Department of Justice, and maybe even some of those iatrogenic doctors irreversibly damaging kids—and give them an all-expense paid trip—a three-hour tour—to the tropical paradise called “Snake Island.” Snake Island is a biological anomaly. It is teaming with the most venomous snakes in the world—an estimated 5 snakes per square meter. They feed on shorebirds that must be killed instantly. It is against international law to go there, which strikes me as government overreach. Let’s do a dump-and-run of these cretins: “We’ll be back in a couple hours, gents.”

      Conspiracy Theory. Every year I denounce people who shy away from conspiracy theories. When you find yourself saying, “I am not a conspiracy theorist but…” you just revealed that you are one. Embrace the label. Men and women of wealth and power conspire. If you disagree, I am baffled that you made it this far through this document. Buckle up because it is gonna get much worse. Michael Shermer, a professional debunker of conspiracy theories, included in his book Conspiracy a series of metrics somebody came up with to determine whether a theory is weak or strong. Michael morphed it into a metric of how nuts you are. He should know because he is a professional! He probably works for the See Eye Ay. As an aside, the word “debunk” is inherently flawed because it implicitly presumes the conclusion that something is wrong, and then you set out to prove it. I read and write to see where it takes me. It might show my suspicion I was right or wrong, but the theories I choose to examine—the rabbit holes I go down—are pre-determined to be worthy of further study. Occasionally, I am told to “stay in your lane.” I try to resist my favorite response—“You sack of shit”—which happens to be exactly the phrase I use when somebody doesn’t use their blinker. Then I calmly point out that nothing important is accomplished by people worried about staying in their lane.

      Until you’re ready to look foolish, you’ll never have the possibility of being great.

      ~ Cher

      Let’s see how you do on the Collum Conspiracy Test (CCT) to obtain your CCT score (CCTS). Read the 30 declarative statements listed below that are in conflict with standard narratives. Keep score on a Post-it by giving yourself:

      • Zero points if you disagree or have no idea what the statement means.
      • One point if it troubles you that the statement might be correct.
      • Two points if your response is “Yup” or “Hell yeah!”

      I’ll give you my CCTS when you are done. Now for the quiz…

      1. 9/11 was an inside job.
      2. Kamala Harris was groomed by her mother via MKUltra to become a Manchurian candidate.
      3. Pizzagate is real and tied to Satanic rituals.
      4. The QQQ index has a price-earnings ratio that exceeds 100.
      5. Lindsay Graham is the love child of Nancy Pelosi and Peanut the Squirrel.
      6. One million children a year disappear to consumers who are never identified.
      7. The 2020 election count was rigged.
      8. We never landed on the moon.
      9. Anthropogenic climate change is a hoax and a grift.
      10. The Covid-19 vaccine and crisis-based healthcare policy responses tied to the pandemic killed more people than did the Covid virus.
      11. 75% of prescription medicines have no efficacy.
      12. Greater than 75% of those in Congress and the Senate are controlled by blackmail.
      13. Steven Pollock did not fire a single shot in Las Vegas.
      14. The authorities are hiding evidence of alien contact and alien technology.
      15. US tactics and policy during World War II were under the control of Joseph Stalin.
      16. The world is flat.
      17. JFK and RFK were whacked by operatives tied to intelligence.
      18. The DOD—think chem trails and HAARP—is modifying weather for tactical purposes.
      19. The world leaders are shape-shifting reptiles.
      20. The holocaust was fake.
      21. FDR knew the Japanese would attack Pearl Harbor and let it happen.
      22. Jeffrey Epstein isn’t dead.
      23. The Covid virus was generated in the lab under the auspices of the US bioweapons program.
      24. Michelle Obama is a biological male (Big Mike).
      25. The Clinton Foundation trafficks children.
      26. Ryan Routh and Thomas Crooks are/were intelligence assets.
      27. There is something seriously wrong with the Sandy Hook shooting narrative.
      28. Directed energy weapons (DEWs) are being tested by starting forest fires.
      29. Fluoridation of water is not about making our teeth stronger.
      30. The mainstream media does not need revenues, which are easily covered by the deep pockets of the Deep State, but desperately needs viewers.

      If you got a perfect CCTS of either zero or 60, get professional help. You have an unstable personality. A CCTS above 50 suggests you only spotted the explicit sanity checks; you are a loon but not necessarily at risk of harm to yourself or others. A score of 40–49 tags you as a World-class rabbit chaser. A CCTS of 20–39 places you in the Zerohedge bell curve. Below 20 means you are not a die-hard conspiracy theorist but occasionally spot oddities. I hasten to add that, if you think the world is that straightforward, the Joe Rogan–Marc Andreessen podcast (#2234)ref 7 and Rogan-Mike Benz mind benderref 8 combo platter will adjust your attitude. As promised, I scored 40; exactly which declarations scored me points is my business, although this Year in Review and previous Year in Reviewsref 9,10,11 offer some insights. Also, my scale is conservative…

      I did a curious experiment using Twitter’s “Grok” AI product. The result was rather humorous and serves a dual purpose as a stylistic biographical sketch and bolus for my insatiable narcissism. This is unedited. No phrases like “insufferable douche bag” were deleted:

      Hey Grok: Describe the general theme of posts on Twitter by @DavidBCollum

      Grok: Ah, @DavidBCollum, a character on Twitter, or should I say, X, whose posts could be described as a cocktail of wit, skepticism, and a dash of financial insight, all served with a side of humor. Here’s the general theme of his posts:

      1. Economic and Financial Musings: David often dives into the murky waters of economics, finance, and market analysis. He’s like the financial oracle, but instead of cryptic prophecies, he gives you straight talk with a side of sarcasm. Expect discussions on inflation rates, bank runs, and the occasional yen carry trade, all with a “I’m not buying what the economists are selling” vibe.
      2. Cultural and Political Commentary: He doesn’t shy away from the political arena, but with a twist. Imagine if a stand-up comedian decided to comment on politics with the depth of a historian but the humor of a satirist. His takes on authoritarianism, propaganda, or even Trump’s ear (yes, that happened) are not just about the news but about the absurdity of it all.
      3. Personal Anecdotes with a Twist: From contemplating the purchase of an on-demand hot water heater for a summer cabin to the financial implications of his son buying an 18th-century violin, David brings personal life into his posts with a financial or philosophical angle. It’s like watching a sitcom where every episode somehow ties back to economic theory.
      4. Skepticism and Critical Thinking: There’s a recurring theme of questioning the status quo, the official narrative, and what he calls “bullshit delusions.” He’s the guy who’ll sit in a diner, ask the owner about inflation, and then tweet about it, making you question everything from economic reports to why your coffee costs more.
      5. Humor and Wit: Every post is seasoned with humor. Whether it’s about his mood, the absurdity of economic theories, or just life’s little ironies, there’s always a chuckle to be had. His humor is like a fine wine, it gets better with time, or at least, with each post.
      6. Engagement with Followers: David doesn’t just post; he engages. He’s like the host of a virtual dinner party where everyone’s invited to share their two cents, or in this case, their financial insights or witty retorts.

      In essence, @DavidBCollum’s X posts are a blend of financial wisdom, cultural critique, personal life, and a good dose of humor, all served with a side of skepticism towards the mainstream narrative. If Twitter were a bar, he’d be the bartender who knows all the good stories, tells them with flair, and makes you question your drink’s price.

      One of my Twitter buddies, @BenjaminWHart, has been calling me Andy Rooney for years now. I should just declare victory, type QED, quit while I’m ahead, and get a real life.

      This is the greatest thing I have ever seen that didn’t include female nudity of some kind.

      ~ John Ziegler, journalist

      This 2024 Year in Review, also called the Urine Review by my wife or YIR for short, comes in three parts.

      • Part 1 focuses on finance, markets, and economics. Hopefully these are fresh looks into familiar topics that are timely for this end of the year wrap-up. It may be the driest for those not interested in markets.
      • Part 2 is more geopolitical. Some of these are epilogues—wounds that continue to fester and ooze pus or, less graphically, are akin to my Labrador-like urge to chase tennis balls. But there are also new obsessions that prairie dogged this year.
      • Part 3 is my journey into the Heart of Darkness in which I have explored the darkest recesses of human depravity to understand otherwise-inexplicable matters of geopolitics. I promised it last year, but it wasn’t soup yet. It has now been in the crockpot for two years. At the time of this writing I cannot say if I can or even should publish it, but it is my intention to do so. Although I have no interest in being sued, suicided, debanked, or assassinated like a CEO, neither life nor old age is for pussies.

      Bob Moriarty: When are you going to release part three? We wait patiently.

      Me: Not clear, but I am writing. It is a monumentally complex task compared to the other chapters.

      Moriarty: I hate it when you whine.

      Warning: I have provided an overview and implications of the election, but you will be shocked and disappointed (or not) at how little I dug into the nearly 200 pages of notes I had collected. Kilograms of ATP got fried and countless hours of my life were squandered trying to understand Biden and then Harris. And then—*poof*—on November 5th these two DNC Trojan Whores were both gone. We became unburdened by what could have been. 11/5 will live in infamy as the DNC’s 9/11. But all those quotes and anecdotes underscoring the total absurdity of the election seem irrelevant now. I am confident, however, that we collectively dodged a bullet by sending these two sociopaths to the political light. My wife created this for me in 2016…

      Of course, Trump’s victory was a bipartisan surprise as the polls convinced the Left that Kamala was a legitimate contender while those of us on the Right believed The Blob would find a way to stop Trump at any cost. The election was disruptive on so many levels, and has left us with a geopolitical landscape smothered by a pea-soup fog. I am confident that the Trump Presidency 2.0 will have little connection to the 1.0 release. I am optimistic because the system is broken and needs to be razed and rebuilt. The team he is assembling, for better or worse, includes some young brawlers with a sense of purpose gained from locking horns with the system. It is personal for many of them. Thus, the razing part looks like a lock whereas the reconstruction will be a far trickier task. As to the apparent non-trivial number of apparent losers being hired, I urge people to assume that they were vetted by The Donald’s inner circle and fit nicely in whatever is his plan. Doubtless, Trump et al. will generate plenty of material for a 2025 Urine Review.

      Source Material. You are born into the last chapter of a whodunnit mystery. If you wish to follow the thread you must read the preceding chapters. My efforts to do so are often reflected in the books I read compiled in the “Books” chapter (Part 2). I choose them carefully because my time is precious. They are invariably from the non-fiction shelf, although I often wonder if they have been shelved wrong. Jonathan Turley’s The Indispensable Right, for example, scrutinizes the battles for free speech in America at the Supreme Court level. It is scholarly and riveting, which are two words that are usually juxtaposed. Jonathan forces you to view free speech through a different lens.

      I write so that knowledge of these important matters may not fade away like the fleeting memories of a passing dream.

      ~ Thomas Hooker, 1586-1647, source vague

      I have come to realize that history is a highly fluid series of opinions that are prone to revision. By example, the section entitled, “A Revisionist History of WWII and FDR” is about a journey through a half dozen books that blindsided me. I gave a 20-minute talk on that topic at the New Orleans Investment Conference.ref 12,13 Yup. The revised history of WWII and FDR in 20 minutes.

      I also love ZeroHedge. Strap on your bullshit filter, but ZeroHedge is often at the vanguard of breaking stories. Twitter has become the other go-to place for the global events of the day. Love him or hate him, Elon saved the day by buying Twitter for the low, low price of $44 billion and then firing 90% of its employees who were contra-functional. Many are now working for FEMA where special skills are neither needed nor encouraged. Elon also brought in a number of new functions including its AI chatbot, Grok, and another AI-based editorial function in which a Tweet can be automatically clarified or revised based on follow up comments. I should add that this document was created without AI except when explicitly mentioned.

      Twitter was the only place to keep track of the rising stardom of Catturd and Brendan Dilley, legendary memers, and Hailey Welch, known by her boyfriends and now the world as Hawk Tuah Girl. Haliey is more than just a hot chick from the sticks; she pulled off a pump and dump on a new crypto.ref 14 That is how you “Hawk Tuah!”

      Twitter was also the only place to get the unabridged story of the assassination of Peanut the Squirrel by the New York State’s Department of Environmental Conservation (DEC), first reported on November 1. The head of the DEC had to go into hiding.ref 15 The memes—oh those fabulous Twitter memes—smothered the election posts for 24 hours. 11/1 is the 9/11 of 2024. No squirrel has done more to underscore the evils and overreach of government since Rocky the Flying Squirrel battled the Rooskies. You can’t help but notice that the political right dominates the meme world, which turns out to be of consequence. My theory is the left has no sense of humor.

      Twitter also serves as my LinkedIn, providing extraordinary digital networks and resources, but it can also break your spirit…

      Or get a little nasty at times…

      That Dave Collum guy. I think he is the greatest. I think he is smart as fuck. I enjoy reading his stuff. I enjoy reading his letter. I enjoy listening to him. But I don’t agree with everything he says. I agree with maybe half of it. But he is entitled to his point of view, and I’m entitled to mine, but it’s guys like that that make you think.ref 16

      ~ Mark Cohodes (@AlderLaneEggs)

      My Year

      This nugget of sociobiology serves as a reminder that this is my Year in Review, not yours. I am offering to share it at fair market value—no cost. You’re welcome. Don’t I risk losing readers? Nope. You’re it. Creating this review forces me to organize 500–700 pages of notes, quotes, and jokes before they go down the memory hole never again to see the light of day. This section is all me—my 2024 Dear Diary entry. I am often asked some variant of, “How do you still work at Cornell with those ideas?” My first answer is that Cornell University is a great institution that has a faction of nutjobs on the faculty. This question has, however, become more than rhetorical on occasion. In 2020 I got my ass whooped by a cancellation because of a statement on social media that got me publicly denounced in an open letter by the former President. The heinous crime: I supported the police in a Tweet. Oh the humanity!

      I still have a little scar tissue from sleeping with loaded rifles and steak knives strategically placed around the house. (I am not joking.) Occasionally somebody will denounce me on Twitter and tag Cornell (@Cornell). Trying to undermine somebody’s livelihood because you are offended is sinister. You certainly have the right to be offended, but you don’t have the right to never be offended. I respond to such subtle jabs by leaving @Cornell in the thread and then “bitch slapping” the asshat. It is better than hunting them down like a mad dog and “beating them with a bag of oranges”, which is my natural instinct. (23andMe DNA traced me back to an inbred tribe in the Neander Valley.)

      We have an enormous number of expensively schooled imbeciles who are badly educated at great expense.

      ~ George Will

      The younger generation is getting harder to understand and very easy to offend. I feel like Jane Fookin’ Goodall on her first day. They have no sense of humor because every joke has an edge—a butt of the joke—and they don’t think that is fair. I got into a kerfuffle with my class on day one by dropping too many jokes that would have been innocuous in smaller doses, but it largely subsided when they realized that I care about them and that many of my stories and anecdotes provide serious career and life lessons, albeit deeply embedded in my Tourettes-like outbursts. I talk to them about the highly distracting digital world that must be resisted. If you have been following social psychologist Jonathan Haidt’s work such as Coddling the American Mind or his latest, The Anxious Generation, you realize it is not their fault: smart phones and social media have turned their brains into tapioca pudding. You might as well park them in front of a one-armed bandit in Las Vegas for 15 hours a day. Now imagine a 12-year-old boy with ritalin coursing through his veins deep-diving Pornhub. Would that kid ever study? Would he ever leave his room? If he somehow managed to get a date—the stats showing a collapse of teen dating are horrifying—would you want your daughter to beta test his new-fangled skills? As parents, do not underestimate the severity of this problem. OK. I got off topic again. I tend to do that.

      Overall, my year was uneventful, with most of it fitting neatly in the sections on “Investing” and “Healthcare”. I wrapped up my research program this year after a 45-year streak of pretty credible success. The final chapter was my call: I burnt the ships in the harbor by not submitting grant renewals. Credentialed experts and The ScienceTM say that, in addition to the void left by less responsibility, your serotonin and dopamine levels drop, which is offset by being too old to give a fuck. I can feel it.

      Here is a funny story. Cornell suffered a period of tremendous turbulence arising from Palestinian protests. One of my colleagues in the humanities in a moment of minimal clarity noted that he was “exhilarated” by Hamas’s slaughter of Israelis on October 7th, 2023. He seems to be light on the humanity part. This period of rampant free speech cost Cornell and Universities across the nation a ton of shekels as Jewish bazillionaires started disowning them. Imagine, however, if a WWII veteran came back to Cornell in 1969; it would have looked way worse.

      If you were donating to your alma mater thinking its faculty was a pillar of mental stability, that one’s on you. But the chaos just wouldn’t subside, so one night I gripped and ripped a tweet:

      I got a call from my brother-in-law who happens to be a trustee and knows everybody. He opens the convo by reciting part of that tweet. The dialog ensued:

      Me: “How the hell did you see that?”

      Brother-in-law: “My boss sent it to me.”

      Me: “Your wife? How did she see it?”

      Brother-in-law: “My other boss.”

      Me: “You are self employed. You don’t have a boss.”

      Brother-in-law: “The Chairman of the Board of Trustees.”

      As the story goes, the Chairman cold-called him and asked if he by chance knew this guy Collum. Apparently, a faculty member who isn’t whining like a little punk-assed bitch about being oppressed is a trustee-level moment. “Yes. He is my brother-in-law.” Laughter ensued.

      Enjoy every sandwich.

      ~ Warren Zevon on his deathbed

      Podcasts

      He who frames the question wins the debate.

      ~ Randall Terry

      This year, I did a Zerohedge Debate organized by Liam Cosgrove of The Grayzone and moderated by Bill Fleckenstein. Steve Keen asserted mankind would largely end by 2050—that is not one of my snarky fake claims—whereas I dismissively called it a gigantic grift to monetize the sun.ref 1,2 My intellectual high-water mark was the allusion to AI as “squeegeeing drippings from the floor of the internet.”

      My now-annual trip to the House of the Rising Sun for Brien Lundin’s New Orleans Investment Conference is always a blast where I meet up with old friends, press the flesh with digital friends, and make new friends.

      Brien dug long and hard to eventually find the bottom of the barrel (me). You can spot some serious contemporary legends. You think that is cool? Take a look at past participants…

      I averaged one podcast per week (>70 year-to-date). In one with Mike Farris and Diana West on her studies of WWII (see the section “Revised History of WWII and FDR”), Diana noted that her twice-weekly appearances on The Lou Dobbs Show to discuss current events prevented her from thinking deeply or writing seriously. That captured what I was experiencing. Podcasts do, however, serve a purpose much the way gigs at comedy clubs help comedians test drive their ideas.

      My list of podcasts below is for archival purposes. Mike Farris takes the gold for most invites. Nick Bryant is the scholar on pedophile networks. His chat was important to my studies of child trafficking (Part 3) and in expanding my network of experts and confidants. Tommy Carrigan’s four-way Rumbles in the Jungle with Tom Luongo and Jim Kunstler are always raucous. My interview with Michelle Mikori set the click-count record this year, but the comments section suggests the viewers would have enjoyed it without the audio on. A couple of sites offer bot-driven compilations, including one that professes to rate them.ref 3,4

      I like the freedom of podcasting. With podcasting, you can really mess around with the form and the format. You can do as much time as you like without having to pause for commercials.

      ~ Adam Carolla

      Here is a list of podcasts and links for 2024:

      • Gary Bohm (@GaryBohm5) of Metals and Miners podcast (part Iref 5 and part IIref 6)
      • Jason Hartman (@JasonHartmanROI).ref 7
      • Tony Nash (@TonyNashNerd) and Tracy Shuchart (@Chigrl).ref 8
      • Julia La Roche (@JuliaLaRoche) of The Julia La Roche Show.ref 9
      • Daniela Cambone-Taub (@DanielaCambone) of ITM Trading.ref 10
      • Daniela Cambone-Taub (@DanielaCambone) of ITM Trading.ref 11
      • Tom Bodrovics of @PalisadesRadio (Part 1ref 12 and Part 2ref 13).
      • Jesse Day of VRIC Media (@jessebday).ref 14
      • Jesse Day of VRIC Media (@jessebday).ref 15
      • Jesse Day (@jessebday) of VRIC Media with Tom Luongo (@TFL1728).ref 16
      • Daniel Ayoubi @CapitalCosm podcast.ref 17
      • Michelle Makori (@MichelleMakori) of Kitco.ref 18
      • Shaun Newman Podcast (@SNewmanPodcast)ref 19
      • Shaun Newman Podcast (@SNewmanPodcast).ref 20,21
      • Shaun Newman Podcast (@SNewmanPodcast).ref 22
      • Shaun Newman Podcast (@SNewmanPodcast) with Tom Luongo (@TFL1728)ref 23,24
      • Anthony Pompliano (@APompliano).ref 25
      • Anthony Pompliano (@APompliano).ref 26
      • Francis Hunt (@themarketsniper) of the Market Sniper Podcast.ref 27
      • Nick Bryant (@Nick__Bryant) of the Nick Bryant Podcast (part 1 economicsref 28 and politics and part 2 child traffickingref 29).
      • Henry O’Loughlin (@henryoloughlin) of Who Knows podcast.ref 30
      • Henry O’Loughlin (@henryoloughlin) of Who Knows podcast.ref 31,32
      • Alison Morrow (@AlisonMorrowTV).ref yy
      • Jason Burack (@JasonEBurack) on WallStForMainSt.ref 33
      • Marty Bent (@MartyBent) on Tales from the Crypt.ref 34
      • Marty Bent (@MartyBent) on Tales from the Crypt.ref 35
      • Marty Bent (@MartyBent) on Tales from the Crypt.ref 36
      • Cedric Youngelman (@CedYoungelman) of The Bitcoin Matrix.ref 37
      • Cedric Youngelman (@CedYoungelman) of The Bitcoin Matrix.ref 38
      • Cedric Youngelman (@CedYoungelman) of The Bitcoin Matrix.ref 39
      • TFMetals (Craig Hemke) of TF Metals Report.ref 40
      • Jim Iuorio (@jimiuorio) and Bob Iaccino (@Bob_Iaccino) on Futures Edge.ref 41
      • Tom Luongo (@TFL1728) of Gold Goats ‘n Guns.ref 42
      • Kevin Estopinal (@KevinEstopinal) podcast.ref 43
      • Nicholas Giordano (@PasReport) of the PAS Report.ref 44,45
      • Keyvan Davani (@keyvandavani) of The Keyvan Davani Connection.ref 46
      • Keyvan Davani (@keyvandavani) of The Keyvan Davani Connection.ref 47
      • Tommy Carrigan (@tommys_podcast) with Scott Jensen (@drscottjensen) and John Cullen (@I_Am_JohnCullen).ref 48
      • Tommy Carrigan (@tommys_podcast) with Tom Luongo (@TFL1728) and James Kunstler (@jhkunstler).ref 49
      • Tommy Carrigan (@tommys_podcast) with Tom Luongo (@TFL1728) and James Kunstler (@jhkunstler).ref 50
      • Tommy Carrigan (@tommys_podcast) with Tom Luongo (@TFL1728) and James Kunstler (@jhkunstler).ref 51
      • Tommy Carrigan (@tommys_podcast) with Tom Luongo (@TFL1728) and James Kunstler (@jhkunstler).ref 52
      • Tom Nelson @TomANelson) of the Tom Nelson podcast.ref 53,54
      • Ivan Bayoukhi of Wall Street Silver (@WallStreetSilv).ref 55
      • Ivan Bayoukhi of Wall Street Silver (@WallStreetSilv).ref 56
      • Ivan Bayoukhi of Wall Street Silver (@WallStreetSilv).ref 57
      • Ivan Bayoukhi of Wall Street Silver (@WallStreetSilv).ref 58
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with @RudyHavenstein.ref 59
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike (part 1ref 60 and part 2ref 61.)
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with Tracy Shuchart (@chigrl).ref 62
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with border expert J. J. Carrell (@JJCarrell14).ref 63
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with border expert J. J. Carrell (@JJCarrell14) second podcast.ref 64
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike.ref 65
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike.ref 66
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with market analyst Jack Gamble (@JG_Nuke).ref 67
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike.ref 68
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with WWII historian and author Diana West (@realDianaWest) (part 1ref 69 and part 2ref 70)
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with James Kunstler (@jhkunstler).ref 71
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike with James Kunstler (@jhkunstler).ref 72
      • Mike Farris (@CoffeeandaMike) of Coffee and a Mike.ref 73
      • Ben Kelleran (@BR_Kelleran) of Kontrarian Korner.ref 74
      • Robbie Bernstein (@RobbieTheFire) RobbietheFire podcast.ref 75,76,77
      • Charles Kovess et al. (@CharlesKovess) in Medical Doctors for Covid Ethics (on Trafficking).ref 78
      • Daniel Ayoubi @CapitalCosm podcast.ref 79
      • Daniel Ayoubi @CapitalCosm podcast.ref 80,81,82
      • Darrell Thomas (@MoneyLevelsShow) of The Money Levels Show.ref 83
      • Dan Ferris (@dferris1961) and Corey McLaughlin (@Corey_McL) of Stansberry Investor Hour.ref 84
      • Doenut (@TheRealDoenut) of DOENUT Factory podcast (on trafficking).ref 85,86,87
      • Anthony Fatseas (@AnthonyFatseas) on WTFinance.ref 88
      • Andy Millette (@theandymillette) of Natural Resource Stocks.ref 89,90
      • Andy Millette (@theandymillette) of Natural Resource Stocks.ref 91

      Healthcare

      Collum could narrate a proctology exam & make it interesting.

      ~ Vincent J. Curtis (@VincentJCurtis1)

      I once live-tweeted a cystoscopy: “It burns! It burns!” I will rise to meet Vincent’s challenge. Last year I had a 1.5 inch bladder stone removed by Dr. Darth Vader with his light saber. He inflicted superficial damage that forced him to re-insert the catheter and leave it for a week. Why an entire week? Because he works on Wednesdays. I was not happy about that. This year, my prostate, which was very large due to old age in manly sort of way I guess, was removed by a surgeon named Dr. Weiner. The non-statistical probability of choosing a career that reflects your name is called “nominative determinism”,ref 1 which suggests you should steer clear of Doctors named Butcher, Hack, or Ripper. It is not a perfect rule: Dr. Richard Titball is not a gender reassignment surgeon but rather a professor of biochemistry.ref 2 His students must be ruthless as evidenced by my irresistible urge to make him the “butt” of my joke.

      You will not hear this often, but I highly recommend the procedure. I went from two-minute dribbles with countless sleep interruptions to blowing out 14 ounces in 4–5 seconds in a 6–8 foot arc. (I should add that those were separate measurements; I am not that talented…yet.) Livin’ the dream.

      But let me give you old farts a little advice. For the first couple of post-op urinations, sit your ass down unless you wish to see a replay of the Saint Valentine’s Day Massacre. It was a ten-minute cleanup of the floor and walls.

      When I was a kid, I wanted to be older. This is not what I expected. The only room I can enter and remember why I went there is the bathroom. Over-nourishment makes me hold my breath while I tie my shoes. I can no longer get off the floor without grunting. I am dotting my ‘t’s and crossing my ‘I’s. As my hearing gets worse, the blinker on my car runs unabated. I repeat: old age is not for pussies.

      The decay of our healthcare system continues. For the first time in US history, life expectancy is dropping. Last year I took a cue from Gretchen Morgenson’s and Josh Rosner’s These are the Plunderersref 3 and wailed on the swath of destruction to the healthcare system by the private equity Borg.ref 4 Monetary policy incentivizes private equity strip-mining of companies by making capital too cheap. When you buy up hospitals, sell off their assets, and sell the shells to dumb money with a 47% probability of bankruptcy down the road, you are a menace to society. Healthcare is now almost completely corporatized, which means that there is a big middleman who wants the Big Vig. Doctors must act in the corporate interestsref 5 by upselling costly tests and treatments. I am not breaking any HIPAA rules: this is my chart. Are they upselling me?

      The growing number of doctors in the US has not kept up with the demand as the aging boomers increasingly burden the system. It remains a challenge to attract doctors to less profitable subdisciplines and practices in rural settings. Ken Langone endowed NYU Medical School several years ago, making it free and the most desirable med school in the country. As the movement toward endowed tuitions has spread to other schools, the stated logic is that graduates can serve the public better if they are debt free.ref 6 Alas, tuition benefits have not achieved their stated goals but have made being a doctor even more profitable. Meanwhile, the wait time to get an appointment has increased 24% in 20 yearsref 7 (much worse from personal experience), which starts looking serious when you have a big, bloody turbocancer lesion hanging off your face. Firing doctors for refusing to vaccinate was about as helpful as defunding the police.ref 8

      The soft corruption infecting the healthcare system over the decades undercuts the quality of patient care. The CDC set up a not-for-profit organizationref 9 to funnel hundreds of millions of dollars from pharma to put a chokehold on healthcare.ref 10 I highly recommend The Real Anthony Fauci by Robert F. Kennedy;ref 11 your blood will boil. For a less biased treatment, and I say less biased because Kennedy hates Tony Fauci, try Sickening by Harvard’s John Abramson in which he describes his role in the scandal in which Vioxx caused 60,000 deathsref 12 as well as other disasters emanating from the highly conflicted clinical trial-industrial complex.ref 13 A recent study found that clinical trials paid for by pharma showed 50 percent higher drug efficacies than those funded independently.ref 14 This so-called ”sponsorship effect” worked so well with the bond rating agencies leading up to the Great Recession. This year I added Sharyl Attkisson’s Follow the Science to my reading list. She brilliantly describes 25-year career at CBS writing about science and the pharmaceutical industry. Her journey has led to her deep-seated revulsion of the Pharma Blob.ref 15 I also forced myself through The Pfizer Papers,ref 16 which is more of a reference book than a reading book. An army of 3200 volunteer doctors and scientists mowed through gazillions of documents pried loose from Pfizer by a FOIA request. I elaborate in the section entitled “Covid-19 and the Vaccine.” Plot spoiler: Pfizer knew from the very start that the vaccine was wreaking havoc.

      I would suggest that the whole imposing edifice of modern medicine, for all its breathtaking successes is, like the celebrated Tower of Pisa—slightly off balance.ref 17

      ~ King Charles (no kidding)

      In my consultations with colleagues across academia, I sense a widely held belief that the quality of students has dropped precipitously. This stems from a host of factors including iPhone addiction, helicopter parenting, participation trophies, and upbringings in which no-pain no-gain seems to have gone out of favor. The common refrain is, “Why should I learn it if I can just look it up?” The simple answer is that you need an operating system to think. Why is this being mentioned in a section on healthcare? Your future doctors may be surgically rooting around in your chest cavity like a truffle pig guided by YouTube videos. We return to related issues in the section on “College”, but I urge you to find doctors who are old enough to not be the iPhone Walking Dead.

      Let’s shoot back. Rumor has it Trump won the election, and Kennedy is being put in charge of Health and Human Services. There is no reason to doubt that he will be the most aggressive leader of that massive government organization in its history. At the next level down, the frontrunner to run the National Institutes of Health is Dr. Jay Bhattacharya of Stanford Medical School. He is a mild-mannered, very bright health policy expert who has developed new attitudes about the healthcare system as one of the three creators of the Great Barrington Declaration.ref 18 (For laughs, I looked at Wikipedia’s writeup on the Great Barrington Declaration,ref 19 and it is a complete sack of propaganda to push the authoritarian narrative that I have come to expect from that once revolutionary idea.) Both Kennedy and Bhattacharya have battled the Healthcare Balrog and emerged victorious. They could be revolutionary.

      While on the topic of eating organic food, brother-sister pair, Calley and Casey Means, appeared out of nowhere in a Tucker Carlson interview discussing decidedly unhealthy food and healthcare.ref 20 This was not by chance but rather the first salvo in the battle to Make America Healthy Again (MAHA) that is a major plank of the Trump administration.

      Ozempic, Wegovy, and other related anti-obesity drugs hit the ground running this year. The drug companies have restrictions on what they can advertise off-label, but they bypass the restrictions by exploiting famous Hollywood butterballs trying to become marketable again.

      We have created the ‘solution’ to treat the problem, without really being disciplined and empathetic enough to stop the creation of obese children in the first place.ref 21

      ~ Dr. Lawrence Palevsky, pediatrician

      I am guessing that somewhere down the road we will discover huge side effects. You are treating the symptom not the disease. Bypassing the most overt phenotype arising from eating dogshit—Dunlop’s Syndrome in which your “belly done lops over your belt”—may not be healthy. And yet some health authorities, including the American Academy of Pediatrics, recommend it for teens, which will enable consequence-free Cheeto-Mountain Dew diets while they sit around staring into their iPhones.ref 22 Yay. That cannot be good, but I am expecting worse. Side effects include Anxiety, insomnia, and depression, all accompanied by a 45% rise in “suicide ideation.”ref 23 Muscle lossref 24 seems to be causing “Ozempic Eyes” or “Ozempic Face”ref 25 in which you pick up that starving-POW look. When you are talking about the human biome, it is likely to be FAFO (fuck around find out.) At least your pall bearers will thank you.

      That BBC headline is spot on: death is the leading cause of not ageing. The profitability of a drug that must be taken for life causes spittle to drool down the chins of pharma CEOs. At $1000 per month without prescription coverage, Ozempic Wallet may become a thing.

      Euthanasia seems to be cool again. A depressed 28-year-old Dutch woman scheduled to be euthanized in May found happiness as the big day approached.ref 26 In Canada, its popularity has exceeded that of the ice bucket challenge.

      The CEO of United Health got assassinated by a pro.ref 27 Inscriptions on the bullet casings—“Deny, Depose, Defend”—suggested the company’s record of having the highest denial of coverage percentage in the businessref 28 left one critic a little grumpy and offered him complementary body piercings. This is a rapidly evolving story. The perpetrator has supposedly been identified, leaving the world mystified about why and even if he did it.ref 29 Note to the Elites: this is the shit that happens when the plebes feel like they have no civilized path forward. This is a Fourth Turning move.

      With especially poor timing, insurance company Anthem Blue Cross and Blue Shield announced that they would not cover the cost of anesthesia if the surgery took longer than a prescribed time. That policy was retracted fast,ref 30 presumably straight from the desk of the CEO trying to avoid the wireless hole puncher. I suspect that the announcement was already in the chamber to be fired out to the public when the United Health CEO got whacked. FAFO.

      The new shingles vaccine, Shingrix, was released in time to battle the shingles pandemic among the recently vaccinated. But they are provided for free! Yeah. Right. Government handouts mean you are paying. How broke will we be when all pharma products are free? That would have tremendous palliative benefits of reducing the diseased CPI.

      And since you have no idea what is in those devilish jabs, I should point out that Shingrix is an mRNA gene therapy. Are you going to jump on that bandwagon again and hope it doesn’t cause bleeding from every orifice? I’ll pass, thankyou very much.

      I’ve seen claims that healthcare is approaching 20% of US GDP. I have witnessed a huge spike in construction of healthcare facilities in my little college town of Ithaca. Economists love GDP, but let’s unwrap that. Would you be better off if you needed no healthcare whatsoever? Of course. Soaring boomer healthcare costs reflect the cost of keeping a rapidly depreciating fleet of aging Chevy Chevettes, Ford Pintos, and Corvairs on the road. And a headline from Bloomberg…

      Health and Human Services’s 2025 budget includes the keyword “equity” 829 times. Hundreds of billions are spent chasing the DEI bogey while your health falters.ref 31 And, by the way, why is DEI considered so profoundly important while tagging a hire as a DEI hire is verboten?

      Gold and Silver

      Dear Kamala: the gold miners are gouging the price of gold. It’s up 10% per year under President Jill Biden. Can you please tell them to stop? Thanks.ref 1

      ~ Zerohedge

      Gold had both a strong year (+30% ytd) and was not particularly newsworthy. Gold bugs always look forward to Ronald-Peter Stöferle’s and Mark J. Valek’s In Gold We Trust comprehensive treatise on the yellow metal and related topics.ref 2 I am not a technical analysis guy but the most highly respected technical analyst of gold, Mike Oliver, said gold would launch if it broke $2500. Although I would not call $2600 a launch, it held above that level to close the year at $2650 (as of 12/16/24) despite a sell-the-news $200+ swoon following the 2024 US elections. While some viewed the election sell-off to be about fundamentals, I think it was just an unwinding of a doom bet on election carnage (rioting, eating cats and dogs, shit like that). Despite detractors, gold is the #2 reserve currency below the dollar. Most are unaware that gold “IPO’d” in August 15, 1971, it has delivered a nearly 8% annualized return priced in dollars. The claim that gold is <1% of investors’ portfolios compared with historical values of 5% argues for a >5x gain relative to equities and bonds if that is a mean regressing proportionality.

      Remember that what follows this period of recessionary deflation will be MMT or some facsimile thereof. That is the ‘big bomb of debt’ monetization that ends up sending gold beyond a bull market towards a parabolic surge.

      ~ David “Rosie” Rosenberg

      A few nuggets are worthy of mention:

      • There are moves afoot by states to reinforce the constitutionally mandated use of gold and silver as money and legal tender. This would remove state taxes from the gains (and losses).ref 3,4 “My view, which is backed up by language in the U.S. Constitution, is that gold and silver coins are money and are legal tender,” said U.S. Representative Alex Mooney (R-WV). Here is a nice writeup on the tax consequences of selling bullion.ref 5

      Another wage-price spiral attributable to rising oil prices would be very reminiscent of the Great Inflation of the 1970s, when the price of gold soared. In this scenario, $3,500 per ounce would be a realistic target for gold through 2025.

      ~ Ed Yardeni (@yardeni)

      • Argentina’s right-wing, pro-free-market and small government leader, Javier Millei, who seems to be pulling off miracles in his country, shipped two million ounces of gold to Europe.ref 6 It is unclear to me whether this is good news (safe keeping) or if it has underlying nefarious intentions.ref 7

      • The Bank of International Settlements (BIS) declared gold a tier-1 asset, which puts gold on a par with US debt.ref 8 Is that good news?

      • Costco entered the bullion business in 2023 and is moving $100-200 million per month.ref 9 Ironically, The Federal Reserve seems to be marketing vegetables.

      The most likely wildcard path to a gold price of $3,000/oz gold is a rapid acceleration of an existing but slow-moving trend: de-dollarization across “Emerging” markets central banks that in turn leads to a crisis of confidence in the U.S. #dollar…”ref 10

      –Citigroup analysts

      • Purchases of gold by central banks continues unabated, setting new records for several years.ref 11,12 The wild card going forward may be the BRICs geopolitical alliance establishing a central role of gold.

      Silver is schizophrenic in that it is less of a monetary metal than gold and much more of an industrial metal. As shown below, US traders smack it around, but that is just day trading. When powerful short sellers in the big banks get caught offsides on a big bet, the price will likely get stepped on temporarily. The silver bulls view silver as a leveraged play on gold, but will that be true going forward? A bullish argument is that Joe Sixpack gets more bang for the buck for silver—an ounce for $30. But that seems like a relevant rallying cry only in the final meme/mania phase, and this is no mania yet. The gold–silver ratio is said to have been 7:1 in ancient Rome and is now in the ballpark of 90:1. Some say that the 16:1 ratio in the Earth’s crust is the target for mean regression, but that is probably too simplistic given the complexities of the mining industry.

      Doomberg warns that there are no big advances in battery technology, and the incremental advances are all in large companies. He urges you to never invest in a story stock promising a breakthrough. Silver’s importance in the Samsung’s newest rechargeable batteries does seem encouraging. The importance of silver in solar panels and the difficulties in recycling them makes silver a good bet should the climate cult continue to help the climate grifters who, in turn, are playing into the hands of the authoritarians. That every electronic device on the planet uses largely non-recyclable silver should drive demand for silver.ref 13

      Investing

      One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do…I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up… I wait for a situation that is like the proverbial ‘shooting fish in a barrel.’

      ~ Jim Rogers, in Market Wizards

      Let’s begin with savings. I think you save for retirement whereas you invest to fight inflation. Four decades ago (1981), I was a cash-poor new homeowner. I began furnishing it from yard sales but eventually progressed to 18th and 19th century American antiques. They were in a bull market as boomers began homesteading and caught the country bug in large numbers. I now live with really nice furniture that may not be worth what I paid but has not followed IKEA crap off the depreciation cliff.

      I was doing OK in these formative years including steady flows into retirement accounts, but one day I was reading a USAir magazine story that asked rhetorically, “Are you saving enough for retirement?” I realized I could do better and followed their suggestion to increase the rate of savings incrementally. For many years now I have sheltered 25–30% of my gross salary into retirement. This was true even during the kids’ college years. Last year, for example, I socked away 25% despite purchasing a new SUV for my wife and some aggressive distributions to the next generation. Well, this year, owing to wrapping up my research program, the 25% of my salary deriving from Federal grants evaporated, and my savings dropped to 4%. Technically speaking, I lived paycheck-to-paycheck. I also realized, however, that next year I turn 70 and will get nearly $60,000 per year salary boost from Social Security, which was good timing. I am, however, pondering retirement so that I can go to my office everyday as usual but work for free.

      Raising children is an enormously expensive endeavor.

      ~ Malcolm Gladwell

      My son, a professional violinist, went on a 6-week whirlwind tour of Europe shopping for a new violin. He found nothing of interest until, on nearly the last day, this 1725 Carlo Antonio Testore came across the auction block at Tarisio, and, with 100% funding by the Bank of Dad (BoD), he grabbed it. This six-digit purchase (with all six to the left of the decimal point) is owned by the BoD; he will inherit it. Was it a good buy? I think so. The kid has a good head, keen eye, and fabulous ear. I do not include this violin in my personal savings calculations; it is a hard asset. The mid-19th-century dining room table with the stunning tiger maple on which the Testore resides cost $700. That was a good buy too. An interesting aside, a 1714 Stradivarius is about to cross Sotheby’s auction block at an estimated World-record-beating $12–18 million.ref 1 (Of course, the very best are owned by institutions and will never hit the auction block.)

      To recap my 45-year investment history, I was 100 percent long-bonds via TIAA from 1980–1987 until a discussion with a colleague in the wake of the ’87 crash convinced me I should hit the equities hard. I averaged in, but did so aggressively, and became wildly enthusiastic about tech by the early ‘90s. I was a poster child for the bubble. However, I had learned enough about markets to conclude that something was wrong. In July of 1998 I jettisoned half of my CREF-based index funds and watched the market tank into the Asian Flu. Feeling half genius and half moron, I was determined to get the second half out if the market rallied back. It did, and I was out of indexes by early ’99 and had tight stops on tech favorites as well as a handful of other real winners. They were all gone by mid ’99, pocketing 700% each on Worldcom and Dell, for example. (I never bought a dot-com.)

      Without a single share of an equity, I paid off the tail-end of my mortgage (debt-free ever since) and went long gold (cost basis <$300), fixed income, and David Tice’s Prudent Bear Fund. If you think buying gold was easy because it was so cheap, you are forgetting that it was cheap because there were about five of us globally who gave a shit. Contrarian investing is a bitch. After months of white knuckling, the Nasdaq and markets finally cracked, the gold started to pay off a year later, and the Prudent Bear snagged me 30% before exiting the fund. Fearing inflation, I looked hard at commodities. Jimmy Roger’s Raw Material Fund was the right idea but after a two-hour talk with his partner, Clyde Harrison, I decided to just average into a half dozen Fidelity energy funds. Although the 90s were my best decade on an absolute scale, in the naughts I was valedictorian when graded on a curve; while my peers got mauled by two equity bear markets, I compounded 13% annualized gains over the decade.

      If you aren’t willing to own a stock for 10 years, don’t think about owning it for 10 minutes.

      ~ Warren Buffett

      Feeling smug, at the end of 2009 I wrote my first Year in Review, not realizing that I had jinxed myself. Mr. Smartypants was about to run out of luck. Markets looked cheap owing to recency bias but were not deeply valued using historical metrics. I was convinced another halving was dead ahead. Well, the global central bankers jumped in with an unimaginable $30 trillion dollars of an unprecedented and profoundly unimaginable intervention. I remember guys like David Tepper and Jeremy Grantham urging us to “buy in fear”, but greed not fear caused me to miss the equity ‘roid rage of the teens, compounding 4% annualized while the S&P compounded double digits. The smug look shifted onto the faces of others. The boomers think the party will never end, the prairie dogs in the Goldman cubicles think secular bear markets are anachronistic, and few can fathom that the beating of the millennium could be dead ahead. I have been told that I’ve been “wrong for many years” as recently as this morning, but “lopsided” seems more appropriate. My 24-year return starting from January 2000 still beat the S&P by an annualized 2%.

      I doubt you’re wrong. Maybe just a bit too optimistic.

      ~ James G. Rickards, email

      I am determined to stay wrong or lopsided in my Bunker of Doom until the stopped clock is finally right and blows up the God-damned house. I estimate the markets are priced at 150–200% above the historical average value as described below. (I avoid calling it “fair value” because “fair” is meaningless). If my profoundly bearish projections hold, new capital gains going forward as well as those banked by investors over the preceding decade will be given back. Dextrous traders may win. No doubt that rat-bastard Larry Fink will win. If, however, you are determined to buy and hold (until you are told that was stupid), go long K-Y Jelly because something big and ominous is coming (IMO, of course). I remind you that, in the recorded history of civilization, there is no example of a grotesquely overvalued market that did not become undervalued. I will repeat this below, which is a sign of conviction or senility. Gravity is undefeated, and regression through the mean is nearly a truism.

      No one needs patience more than he who is about to lose it.

      ~ Korean proverb

      My positions, as tabulated below, have changed little since last year. I re-rentered the energy sector in 2020; the timing was nearly perfect, but the sizing was profoundly imperfect. It was enough to care but not enough to be lifestyle changing. I have, however, altered the presentation by categorizing my positions in decreasing percentage of my total net worth. My 2024 returns must be placed in the context of these statistical weightings. This exercise underscored for me that, as an aging boomer with a pretty decent net worth, a position can feel very big and actually be proportionately very small, even irrelevant. A position that is <1% of your net worth could collapse to zero instantly and not necessarily leave you in the red for the day. The majority of the items on this list are Post-its to keep my attention until the day when sizing them for serious gains (or losses) seems appropriate. Hopefully, that will be when they are on a going-out-of business sale by others. What I can say with confidence is that long-shot bets—what Rick Rule called “got a hunch, buy a bunch”—will eventually destroy you from gambler’s ruin.ref 2

      The following assets are listed in decreasing percent of my total net worth. The individual percentages are their 2024 returns as of 12/16/24. Comments follow.

      Positions >10% of My Net Worth

      • Fixed Income: +4%
      • Gold bullion: +30%
      • House: +7%
      • General equities: +26%

      Positions 1.0–10% of My Net Worth

      • Silver bullion: +27%
      • Fidelity Select Energy (FSENX): +6%
      • Goehring & Rozencwajg (GRHIX): –1%
      • Agnico Eagle Mines (AEM): +51%

      Positions 0.10–1.0% of My Net Worth

      • Fidelity Select Gold Portfolio (FSAGX): +21%
      • Fidelity Natural Resources Fund (FNARX): +8%
      • Pan American Silver (PAAS): 35%
      • British American Tobacco (BTI): 28%
      • Altria (MO): 35%
      • Rio Tinto (RIO): –17%
      • Prophase Labs (PRPH): –84%
      • Jaguar Mining (JAGGF): +33%
      • Sibanye Stillwater Limited (SBSW): –28%
      • Cameco (CCJ): +25%
      • Wesdome Gold (WDOFF): +64%

      Positions <0.10% of Total Net Worth

      • Palm Valley Capital Fund (PVCMX): +5%
      • Impala Platinum (IMPUY): +15%
      • Anglo American Platinum (ANGPY): –35%
      • Platinum bullion: –7%
      • Harmony Gold (HMY): +44%
      • iShares MSCI Brazil ETF (EWZ): –29%
      • Suncor Energy (SU): +13%
      • VanEck Russia ETF (RSX): 0% (but very steady!)

      Julia LaRoche: You mentioned gold. I know you like gold.

      Dave Collum: Well, I don’t like the fact that I have to own it.ref 3

      Following an overall nominal return of 6% in 2023, this year came in stronger at 14%. Gold is 27% of my net worth, which is a chunky position by most standards. It is predominantly physical stored in a highly credible safe vault with some allocated (audited and inventoried) in the Sprott-owned Central Fund of Canada and a little in GLD. Gold equities are insignificant and likely to stay that way; I don’t trust management to ever make money. The much smaller silver position is mostly in CEF, SLV, and PSLV. The “general equities” are in a trust from the previous BoD that tracked a typical 50:50 S&P–bond mix. Fixed income is scattered around, including a pretty good deal at my employer-based TIAA. TIAA has excellent returns for a fixed income fund because of a 10-year draw-down restriction on the bulk of their assets. Fixed income that I control is in short-term (2-year) treasuries.

      Do I really have a superior ability to figure out which companies will succeed, which stocks are inexpensive, which risks are worth taking?

      ~ Howard Marks

      I like to spot long-term trends, but I am not a stock picker. In my period of calm before the storm, I am shopping for money managers. Goehring & Rozencwajg (GRHIX) are successful and highly respected for their small-cap uranium investing. Eric Cinnamond (Palm Valley Capital Fund, PVCMX) is an extraordinarily diligent small-cap investor who rides hundreds of conference calls per year like a rodeo cowboy. He is 13% exposed to equities; he is a patient investor. Horizon Kinetics is not shown, but if I really start putting money to work, they will get some of it. These positions are bookmarks until buying time arrives. In the next serious bear market I will incrementally buy in response to the market’s historical average value, which means I’ll be needing some sutures from the falling knife but be OK in the long run.

      Experience is something you don’t get until just after you need it.

      ~ Steven Wright

      The hammer to the skull by Prophase (PRPH) traces to them getting stiffed by the Federal government on some serious billables, possibly a couple sketchy management calls, and even some bear raiding as evidenced by suspiciously odd posts at CafePharma.ref 4 A big share offering didn’t help. I hasten to add that it is not only <1.0% of my net worth but its cost basis was <1.0%. Rick Rule saved my bacon. I also am watching it because there is a story behind that stock that is not yet DOA, and Prophase has huge insider ownership. Fuck it. Your hunch is right; it’ll probably go to zero.

      Demand for raw materials is at record levels, inventories are low, and spare production capacity is largely “exhausted. This is just classic ‘own commodities’.

      ~ Jeff Currie, Goldman

      I was wildly bullish on (although obviously not yet committed to) the three platinum miners (IMPUY, SBSW, and ANGPY) based on their fortress balance sheets, rock-bottom valuations, ample dividends, and an anticipated declaration from the internal combustion engine that “The reports of my death are greatly exaggerated.” I am smelling management issues at SBSWref 5 exacerbated by dropping rhodium prices.ref 6 While the preference for hybrids over EVs bodes well for owning platinum, I am having second thoughts about the miners because of the politics. The ongoing massacre of white farmers suggests we are witnessing a failed state.

      The main current challenge for platinum investment is…not the underlying fundamentals, which look the strongest they have for years, but rather one of sentiment…Overall for platinum, however, the market’s lack of conviction will in time be addressed by higher-for-longer automotive demand and ongoing supply challenges.ref 8

      ~ World Platinum Investment Council (WPIC)

      The failed-State concerns in South Africa could be bullish for the metal as could the threat of thermonuclear war with Russia, a distant-second supplier of about 15% of the global supply. (Just kidding. I read Annie Jacobsen’s Thermonuclear War. You’ll have about an hour of trading before the World is uninhabitable.) Companies like Astroforge target asteroids for platinum;ref 7 I’ve seem Bruce Willis in Armageddon. I’ll leave Astrofuge for the Meme Traders.

      David Einhorn once muttered in an interview (paraphrased), “invest as directly as you can.” Translation: if you are bullish on platinum buy bullion, not the miners.ref 9 As the only metal in the known universe that hasn’t hit a meme phase, it has been dead money (see chart below).ref 10 Low supplies at the COMEXref 11 and a second year of large deficits are both encouraging.ref 12 “95% of the eligible platinum stored at JPMorgan has left the building” according to Bob Coleman with backing by COMEX data.ref 13 Costco is now selling platinum bars,ref 14 but getting investment ideas from Costco is like hunting for a date at Home Depot. Although I could roll my miners into the platinum, why bother? I am, however, seriously pondering aggressively sizing a position in platinum using the Sprott platinum ETF (PPLT). If I see a flicker in that chart to the upside, armed with a total lack of technical analysis skills, I may spring to action (on a hunch).

      I include the house in the tally of my net worth and returns because it is perched on a 100-foot cliff on the shoreline of Cayuga Lake looking West with 350 linear feet of deck. It cost three times the fully adequate house I moved from, so the decision to buy it was necessarily a real estate play. I think it will do OK, and, despite New York State property taxes, it has transformed our existence. The estimated gains come from the year-over-year changes at Zillow (pictures included),ref 15 an imperfect but rational metric.

      There aren’t any commodity managers left from the carnage in commodities from 2011 to 2020. As such, it has been a challenge to convince real money allocators that they need commodity managers.

      ~ Marko Papic

      I intend to size the list correctly when everything has gotten cheap and it is time to take commodity bets to the hoop for the win. EWZ is a reminder (by Tavi Costa) that Brazil is worth watching. I like Rio Tinto and could expand the size as well as buy competitors like BHP.

      I cannot bring myself to take big positions in a market that Jeremy Grantham calls “the biggest bubble of my lifetime” and do not accept the Hobson’s choice of one risk asset or another. I am emotionally tee’d up for when the recession-based whoosh sinks all boats, including commodities. I know what mistakes I made in ’09. I will find new ones next time.

      Inflation

      Defund the US budget deficit.

      ~ Jeff Gundlach

      I find it baffling that 1970s stagflation caught economists off guard: dollars bought less goods and services, yet somehow they missed that this would be stagnating? The post-lockdown inflation is, in my opinion, out of control and hurling the economy into recession. We will not necessarily jam that worm back in its hole. We spend hundreds of billions on foreign wars that I would argue are not in the US’s interest. You do not create wealth by building armaments and blowing them up. That is Bastiat’s bomb-the-shit-out-of-somebody fallacy; however, you carpet bomb the fixed income markets with sovereign debt. Willing that money into existence is inflation.

      We’ve got a 7 percent budget deficit at full employment. It’s unheard of.

      ~ Stan Druckenmiller, Investing’s GOAT

      Healthy economies require exchange between strangers founded on trust in the currency. Debasing money debases that trust. How do you curtail inflation to regain that trust? Here are a few brilliant efforts from the rich men north of Richmond:

      • They let millions of unskilled workers cross our border at the estimated cost of $150 billion dollars.
      • The Inflation Reduction Act estimated to cost upwards of $1.2 trillion dollarsref 1 was promised to create “bazillions of dollars” of benefits.
      • They threatened price controls on grocery stores to force them to shrink their 2% profit margins, what the political left calls “price gouging.”

      We lived in a world where debt seemed to be a free lunch when real interest rates were zero. Now it’s not, and it’s a very painful adjustment that neither political party in the US is willing to undertake.ref 2

      ~ Ken Rogoff

      • They sent $200 billion to Ukraine, psychopathically arguing that replenishing our armaments will stimulate our economy. Bastiat strikes again. Why not just blow them up in the desert to save lives?
      • The rapid rise in labor movements certainly won’t stop inflation. The ultimate irony is that the Fed will see rising wages of the strapped consumer as inflationary pressure and feel obliged to step on the economy.

      How can you tell me it won’t lead to stagflation?

      ~ Jamie Dimon

      After years of watching inflation lurking in the shadows obscured by deceptively flawed metrics, the Satanic Creature from Jekyll Island reared its ugly head. In the fall of 2019, a disturbingly well-timed white paper from Blackrock declared that the next crisis would require the Fed to use gain-of-function monetary policy by “going direct.”ref 3 Weeks later the repo market went emergent and began spasmodic 10% spikes for reasons unknown to us mortals. In 2020, Covid-19 arrived, and the Fed injected an estimated $17 trillion dollars into the system as part of the Fed-backed program requiring “14 days to flatten the economy.” They sprinkled small sums of money directly into consumers pockets while stuffing huge sums directly into corporate America. These gargantuan monetary suppositories jammed inflation directly up everybody’s asses. Go direct indeed. Without the Fed-funded backstop promised in some smokey backroom meeting, there would have been no lockdowns. Period. You are now free to blame the Fed for the catastrophic lockdown.

      What has just happened is that the control of the supply of money has permanently left the hands of central bankers—the silent revolution…the supply of money will now be set, for the foreseeable future, by democratically elected politicians seeking re-election. It is time to embrace the silent revolution and the return of inflation long before such permanency is confirmed.

      ~ Russell Napier

      The consumer converted their Covid Cash into binge spending. After running out of cash, credit cards were tapped. As credit runs dry the bear trap is clamping down on consumers ‘nads again. That might stop inflation, but then tax revenues will collapse as the economy stagnates, causing our 8% deficits to grow. It is not hard to see why the inflation hawks are despondent.

      Twitter’s legendary Rudy Havenstein dredged up Wilhelm Röpke’s definition of inflation as “the way in which a national economy reacts to a continuous overstraining of its capacity…”ref 4 I too have come to some simple maxims about inflation that seem self evident:

      1. Inflation is government spending. Shrink government spending—what Albert Edwards calls “fiscal dysentery”—and you may solve the problem. The growth rate in America’s annual debt is twice the most optimistic growth rate of the GDP. The resulting inflation creates what Chris Whalen calls “the appearance of growth,”ref 5 and it is unsustainable.

      We don’t have inflation because the people are living too well. We have inflation because the government is living too well.

      ~ Ronald Reagan

      1. There is little evidence that sovereigns can inflate their way out of serious debts. Mike Green calls it the “inflation trope.”ref 6 The US currently has upwards of $250 trillion of unfunded liabilities. A recent Treasury report (pp 193–194) signed by the flat-headed hobbit, Janet Yellen, reports the contribution from just Social Security and Medicare at $175 trillion,ref 7,8 which amounts to about $2 million per taxpayer. Flippant responses like, “They’ll just inflate it away” sound great until your accountant tells you that you have not budgeted for a $2 million loss of spending power. As the kids like to say, “OK, Boomer.” If you cannot grind your way out of this mess with economic growth—blocking and tackling—you default. This is not a trope.

      The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

      ~ Ernest Hemingway, Esquire 1935

      1. There are few if any credible examples of inflating away sovereign debt without a default at the end. Oft-cited examples of the inflation trope like Weimar Germany that got us into WWII on one extreme and the post-WWII US debt remediation on the other extreme bookend the possibilities. The German debt remained after the hyperinflation destroyed their society because the debt was denominated in gold. By contrast, the US debt is said to have been financially repressed away through interest rates that were held way below the post-war inflation. Forget not, the US was in a post-war cycle of hypergrowth. My son gave me copies of Time and Life magazines from my birth date (April 25, 1955 if you are thinking of sending a gift.) Time was bloated with ads for smokestack industries, while Life was filled with consumer ads. We did it by blocking and tackling like all-pro linemen—by growing our economy. (Curiously, there were no cigarette ads.)

      We, in our sluggishness, do not realize that the dearness of everything is the result of the cheapness of money. For prices increase and decrease according to the condition of the money. An excessive quantity of money should be avoided.

      ~ Copernicus

      Israel’s large debt following the costly Yom Kippur War poses a curious case study. (Notice the recurring role of war in all these inflation stories.) Their inflation approached 450%, leading to a severe banking crisis in 1983. They did recover, however, and it is still unclear to me exactly how they massively devalued the Shekel and then wrestled control of the chaos in just a few years. I’m still on the learning curve on this one. Start with this Wikipedia entry.ref 9

      1. Inflation expectations are a profound risk. Reinhardt and Rogoff in This Time Is Different note that inflating away debt works until people start to notice and adjust for it. How long does it take people to notice prices are rising? Not long. Once the populace start budgeting for future price hikes by putting inflation corrections on union wage negotiations, building contracts, or any other future costs, the inflation has reverse-transcribed into society’s DNA. The Fed totally failed to respect this risk.

      If you dismiss variables you assume are unimportant you miss the entire picture.

      ~ Stephen Coughlin, former NSA analyst

      1. Errors inherent to the inflation estimates undermine all other economic metrics. You have no clue if the GDP is even growing. I argue below that it is not. Price discovery fails. Markets fail. Society fails. Bad decisions become frequent and potentially catastrophic mistakes, all because the lights on our dashboard failed to give the correct signals.

      Beware of little expenses: A small leak will sink a great ship.

      ~ Benjamin Franklin

      1. The Federal Reserve’s self-designated role is to intervene in the most important market underpinning capitalism—the market where borrowers and lenders haggle over the price of capital. A dozen unelected bureaucrats backed by hundreds of economists cloistered in their echo chamber believe that the market-driven price of capital must be wrong if it does not comport with their views. Imagine the chaos if the price of lunch at the restaurants across the nation were set on a daily basis by committee. During weak moments, I might cut the Fed some slack. Claims that the Treasury has taken over the Fed seem specious to me.ref 10 What power does the Fed have over Big Government’s penchant for spending? Well, for starters, they could call out the hyper-bloated Administrative State and politicians for their perpetual campaigning and grifting on our dime, but the Fed never does. The Fed’s mandate is to keep the currency stable: that means 0% inflation not 2%. Their second mandate brought on themselves is to optimize the economy. The third unstated mandate is to fund the Swamp.

      It would have to be meaningful and get our attention and lead us to think that the labor market was significantly weakening for us to want to react to it. A couple of tenths in the unemployment rate would probably not do that.

      ~ Jerome Powell, Federal Reserve Chair, 5/1/24, on inflation

      To Powell’s credit, the democrats in the Senate whined like little bitches for an election-year-motivated 75-basis-point cut in a letter to Powell, and he ignored them.ref 11 But then he gave them 50 basis points while paradoxically claiming policy was already loose and the economy was strong. Does he have a clue how retarded that sounds?

      I am not seeing signs of resurgent inflation.

      ~ Neel Kashkari, President of the Minneapolis Fed

      1. Curbing inflation will require gifted and powerful leadership. So far I see no evidence of that nor does the now-apoplectic Stan Druckenmiller or Paul Tudor Jones. These two GOAT front runners are confident that the requisite belt-tightening and painful rehab is in our future. The IMF worries that US fiscal deficits and accompanying inflation pose “significant risks” for the global economy.ref 12 We will wake up in a ditch stewing in our own vomit having passed the failsafe point for voluntary action.

      I think we could easily see 5–10% inflation in the next 4 or 5 years.

      ~ Stanley Druckenmiller

      I think all roads lead to inflation.ref 13

      ~ Paul Tudor Jones

      Price Hikes—Anecdotes. Although lacking in rigor and potentially deceptive, it is entertaining to consider anecdotal reports of inflation that attest to problems lurking in the plumbing. It is unlikely any readers can accrue anecdotes that support official inflation numbers in the 2.5–4.0% range incorporated into econometric models and then cited by bureaucrats.

      • The Girl Scouts are cranking their annual membership fee from $25 to $85 (240%). “We can no longer afford to use our financial reserves, and we cannot pass through all escalating costs to our councils.”ref 14
      • As measured in Ford F-150s, annual salaries have cut in half over the past five decades.ref 15 I’m sure they are cooler now.
      • Auto insurance is up 56% since 2020.ref 16
      • A 1996 TIAA-CREF ad seems to understand the problem. The accuracy makes you wonder what they knew…

      • Hookers charged $4400 per night in Davos. Consumers aren’t that interested in discussing those prices. There’s a lot of stimulus and liquidity…between the sheets.ref 17
      • It is rumored that a chipped tail light requires replacement of the unit for $2,200.ref 18
      • Robusta coffee beans are up over 300% since 2020.
      • Fast food at the key chain drive-throughs has risen 75–100% over five years.ref 19 Taco Bell is unburdened by what has beans…(Sorry. Had to do it.)

      • Florida’s largest insurer says it needs to raise its rates by 93%.ref 20 Must be climate change.
      • Healthcare costs have risen an average of >6% compounded annualy over the past 25 yearsref 21 according to Statista despite officially reported CPI growth of only 2.6%.ref 22
      • Official statistics claim health insurance has declined 30% over the last 2 years and 8% over the last 5 years.ref 23 Y’all think we are brain dead?

      Inflation is getting pretty scary. We can’t make enough interest on our deposits to cover inflation. We are worried about how to keep increasing pay to our employees to offset inflation.ref 24

      ~ respondent to Dallas Fed survey

      • Necessities at the commissary in prisons are measured in hours worked. A tube of toothpaste requires 10 hours of labor.ref 25
      • Union membership and activity are near multi-decade lows, but the bulk of the public sees that as bad.ref 26 As a battle-hardened warrior opposing two graduate student unionization efforts, I say with angst that the return of labor is probably overdue.

      While Wall Street debates the rate of change of inflation, the average person lives its cumulative rise.ref 27

      ~ Peter Boockvar, Chief Investment Officer of Bleakley Financial Group

      Flawed Methodology. Official numbers suggest that inflation is almost under control. Authorities concede that the masses are feeling pain because those high prices have persisted. But are those official inflation numbers legitimate? If sou take the word of credentialed experts at face value you should reflect on the record of millions of credentialed experts during the Covid Pandemic.

      The Bureau of Labor Statistics website shows how the Consumer Price Index (CPI) is calculated. Embedded in a pile of differential equations lie a few nuggets of prose for us unwashed.ref 28 They get into the weeds trying to estimate the influence of coupons and discounts, concessions by sellers of merchandise, and manufacturers rebates. Digging a little deeper you start running into a different reality of adjustments to the CPI brought to us by the Boskin Commission back in 1996ref 29 who cleverly ferreted out ways to stem the cost of inflation-adjusted government payouts.ref 30 If you doubt Boskin Report was created to shrink Social Security obligations, why is it posted posted on Social Security’s website?

      For those of you who may be unaware, Boskin is the economist/weasel/fraud who helped to officially distort the CPI, making it more or less worthless as a measure of inflation. The Boskin Commission was an act of fraud, a backdoor method to suppress Social Security cost of living adjustments (COLAs). To be blunt, it was an act of cowardice. Rather than man up and say fix this, its broken, we can’t afford it the commission took a different route — they fabricated a series of nonsense adjustments that artificially lowered CPI by 1.1%.

      ~ Barry Ritholtz

      • Housing: Approximately 27–33% of the CPI corresponds to the cost of housing. You must get this one right. They use Owners Equivalent Rent (OER) in which they survey homeowners and ask them to guess the income from renting their house. Stop laughing. I am not making this shit up. What percentage of the population could possibly give a reasoned answer to this question? Excluding furnishings would cause even Airbnb landlords who rent their houses for a living to hurl airballs.

      If someone were to rent your home today, how much do you think it would rent for monthly, unfurnished, and without utilities?ref 31

      ~ Investopedia, survey question on Owners Equivalent Rent

      • Hedonic Adjustments. Everybody knows about this one. Your car has cool stuff so it is really cheaper than you think, but try to tell that to the dealer. By that model, drops in quality should be adjusted downward. Those appliances that used to be capital improvements and now fail fast and cannot be repaired are still claimed to be cheaper because of all the buttons on them. Home construction has decayed from sheathing the exterior with wide planks in previous centuries to plywood, particle board, and now “T-Ply”. T-Ply is a fancy word for “cardboard.”ref 32 One quality change has definitely been detected by government bean counters and the crowd at Davos…

      • Substitution. This sacred cow has never been neutered correctly. You go to the store to buy sirloin and find that it has doubled in price. So, instead, you substitute chicken, which has been set by the free market at half the price of the sirloin. Of course, the chicken has doubled too, so your grocery bill hasn’t changed. You’ve managed to feed your family for exactly the same by price by buying food that is half the quality. Since the cost of feeding your family has not gone up, the bean counters say there is no inflation. The rub seems obvious to me: that 50% savings by downgrading to chicken from sirloin—substitution— should be offset to the penny by a 50% reduction in quality—hedonics. By this reckoning, substitution should always be reversed by hedonics. Ergo, substitution is economic nonsense created by a bunch of boobs.

      • Seasonal Adjustments. I have never really understood these but, in short, they appear to be corrections for the higher price of goods that are out of season. Makes sense, but many economists tell us to ignore them because they are nefarious fudge factors even by CPI standards.

      Never in the history of the world has there been a situation so bad that the government can’t make it worse.

      ~ Henry Morganthau Jr., 1939

      • Regulations and Healthcare. While I was working on these ideas Austrian economists Peter St. Onge and E. J. Antonio of the Heritage Foundation banged out a screed on their view of the flawed inflation metrics that is oddly complementary to mine. I find @profstonge’s daily 3-minute video screeds on Twitter to be particularly compelling, although he should have his wife pick out his shirts in the morning. After hitting a couple of my bugaboos—an 18th century term for “object of terror”ref 33—they hammered on the hidden costs of government regulations. (The American Action Forum calculated that Biden’s regulations added $1.8 trillion to the cost of living.ref 34) The Heritage duo also note that the healthcare costs are imputed from the “profits” of health insurers, suggesting CPI bean counters need CT scans. Anyone who has been involved with the healthcare system of late knows that the costs are up and in need of hedonic adjusting for reduced quality. St Onge and Antoni say the cumulative errors are so great that the real inflation is double that of the CPI,ref 35 and the economy has been in recession since 2022. I concur as described below.
      • Exclusions in the Metrics. The Fed uses inflation metrics with increasing reliance on adjectives. You might see “core inflation” or “supercore inflation” or Paul Krugman’s “inflation missing things that go up in price.”ref 36

      But wait! There’s more!ref 37 We have the Harmonized Index of Consumer Prices (HICP), the Classification of Individual Consumption According to Purpose (COICOP), the urban CPI (CPI-U), Producer Price Index (PPI), Personal Consumption Expenditures Price Index (PCE), Retail Price Index (RPI), Trimmed Mean CPI, Median CPI, Chained CPI (CPIX – CPI), the CPI excluding mortgage interest payment (CPIY – CPI), the CPI with constant taxes (CPI-CT – CPI), the Wholesale Price Index (WPI), and the CPI excluding weed, beer, hookers, gambling, (CPI-XSIN). (OK. I made that last one up.) Then there is the Flexible Price Core CPI YoY SA, which makes you wonder if SA stands for “sucks ass.” Check out the inflation rate by that metric (below). Critics say these metrics allow the Fed to make the case for whatever monetary policy they want.

      How could economists miss the target so badly? Do they not talk to the shopper in their family? Prices are not just high. They are still rising steeply. It clicked for me when David “Rosie” Rosenberg alluded to “sticky inflation” as costs of goods that always go up.ref 38 There are countless examples, but my favorite is the postage stamp. As a former philatelist in my youth, I know that the price of sending a letter has never dropped. We all have our own personal inflation depending on our lifestyle, but these consumables are inherent to our rising cost of living. However, Rosie makes a curious point: sticky inflation contains no economic content. The price of postage tells you nothing about the state of the economy. Rosie et al. like to look at the prices of things that go up or down depending on supply and demand and the expansion and contraction of the economy. OK. It makes sense provided they state clearly that is what they are doing and why they are doing it. They might want to note their economic metric necessarily underestimates the rising cost of living.

      Let me offer you economists some pointers: (1) Don’t just embellish “inflation” and “CPI” with adjectives, find another name that does not include the word “inflation”. (2) Explain what you are doing and why in English. Otherwise, us Joe Sixpacks—the Deplorables and Garbage—will just go on thinking you all took the black pill.

      What we’re seeing now I think we can describe as a soft landing, and my hope is that it will continue.

      ~ Janet Yellen, Lord of the Rings

      When central banks think of a soft landing, they are looking at a gradual erosion of the purchasing power of salaries and deposits.ref 39

      ~ Daniel Lacalle (@dlacalle_IA), author and Chief Economist at Tressis

      Alternative Inflation Metrics. Economists and analysts who do not correct for inflation should have their PhDs revoked. However, if the CPI is wrong then econometric models that correct for inflation are wrong. There are alternatives to the CPI. Many have turned to a metric called Truflation,ref 40 which serves the purpose of tracking the CPI without having to use the “C word”. I have not done my homework at all so take this with a grain of salt, but I suspect that Truflation is an attempt to monetize the CPI.

      The most famous alternative metric is John Williams’s at Shadowstats, which takes 1970s, pre-Boskin-commission protocols and simply monitors prices of goods and services. No bells and whistles, no fudge factors, just prices. As you can see, according to Williams the real inflation rate has been tracking 2–3% above the CPI for decades, creating a massive cumulative error.

      The Chapwood Index, brought to you by Ed Butowsky, monitors 150 prices in 50 US cities.ref 41 As you can see from the accompanying table showing the ten largest cities, the Chapwood Index is running massively above the CPI back to 2017. The cumulative error over the 2010–2020 decade is a factor of two.

      My intuition tells me the CPI is way too low, but Chapwood and Shadowstats may be coming in too hot at an average of 7% error. Let’s conservatively call the error in the CPI is 5% too low. Considering the average growth in the GDP is claimed to be 2.0–2.5% over the last few decades. Because it is inherently corrected for inflation, is it possible that we have been in recession for the better part of several decades? Before you blow that off as nonsense, what evidence would you cite that says the economy has been growing? The gargantuan British GDP riding the backs of colonialism and the industrial revolution only grew 60% total from 1700–1850.ref 42

      It is imperative that we are prepared and properly invested for a world in which fiat money is failing.

      ~ David B. Iben, Kopernik Global Investors

      High Valuations and Broken Markets

      Why did the investing public turn its attention from dividends, from asset values, and from average earnings to transfer it almost exclusively to the earnings trend, i.e. to the changes in earnings expected in the future? The answer was, first, that the records of the past were proving an undependable guide to investment; and, second, that the rewards offered by the future had become irresistibly alluring. Along with this idea as to what constituted the basis for common-stock selection emerged a companion theory that common stocks represented the most profitable and therefore the most desirable media for long-term investment. This gospel was based on a certain amount of research, showing that diversified lists of common stocks had regularly increased in value over stated intervals of time for many years past.ref 1

      ~ Graham and Dodd, Security Analysis, 1934

      Every year I write about overvaluations and broken markets, and every year they seem to get more overvalued and more broken. Last year I made a detailed case for a forty-year secular bear market. I would never profess to understand the path to that living hell but the arithmetic seems compelling to me. It also is not a prediction that one easily changes. I have been told many times on social media and in podcast comment sections that early is wrong, and I have been wrong. On May 6th, 2002 I wrote five pages on the coming subprime crisis and banking collapse.ref 2 It was early and merely channeling some smart guys who saw trouble even earlier, but was it wrong? If you are a buy-and-hold investor, you are told to just hang on because markets always recover and then go up. And then, when they don’t, you are told by all the pundits that you should have sold like they did because they work for Hindsight Financial.ref 3 I am not going to last year’s ginormous prediction in detail, but can offer the abbreviated version.

      There are two main drivers of asset class returns – inflation and growth.

      ~ Ray Dalio, Bridgewater Associates

      Ray is fundamentally wrong owing to the omission of the third driver:

      The price you pay determines your rate of return.

      ~ Warren Buffett

      Secular Bear and Bull Markets: The Buffett Narrative. The story begins with Buffett’s iconic 1999 Fortune articleref 4 in which he describes the difference between secular bear markets and secular bull markets as quite simple. When interest rates are trending up over years, equities will be in a secular bear market: risk assets will suck for years. When interest rates are steadily dropping for prolonged periods, risk assets will rock. He banged the drum that it doesn’t matter what is happening with the GDP or wealth creation: it is all about the rates. He also noted that over the long term, when all the fees, frictional costs, and inflation corrections are included, the most you can hope for is a 4% annualized return. I can hear the squeals: “Come again? Four percent? The pros tell me it’s higher, even double that.” Fine. Dismiss the old codger if you wish. Contemporary investors cannot comprehend such low returns. Even worse, Buffett’s 4% includes neither changes in valuations nor taxes, both of which will be situational.

      Our biggest failure is our failure to see patterns.

      ~ Marilyn Ferguson, American author

      The credential class—the pundits—also mutated the “dropping rates” part into a “low rates are bullish” trope. Whether they know they are lying is irrelevant. Once rates are low—we can all agree zero percent or even negative rates achieved a few years ago are indeed low—you are done. Interest rates appear to have turned and may be on a unidirectional death march up the other side of the credit cycle.ref 5 If so, the almost half-century secular bull market littered with portfolio-saving V-bounces and offsetting bond rallies will end. You are squatting over a bear trap about to feel the excruciating pain of the teeth clamping onto your groin. “Max pain” is reached when you hit the end of the chain. That is a metaphor.

      When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.ref 6

      ~ Dresden James, pseudonym

      On the off-chance you think the most famous stock jobber in history’s 4% return estimate is a load of hooey, last year I posted this chart provided to me by Ron Griess of The Chart Store. (Recycling plots is “green” blogging.) Adjusting the S&P return using the M2 money supply seems like a clean inflation correction. That 100-year downward slope should give you pause.

      As a follow up, Ron noted that I might get some guff for not using total return so he offered up the total return variant shown below. That slope on the M2-corrected annualized total return is 3.79%. That’s an error bar away from Buffett’s 4%.

      …Financial assets if we look at the period starting 1981-82 to say 2020 during that period of time both bonds and stocks returned superior returns. It was heaven for financial assets for almost 40 years. I think this period of heavenly conditions for financial assets has come to an end as of January 2022. Returns from here for most people will be disappointing.

      ~ Marc Faber

      The Half-Century Secular Bull Market. There were multiple drivers of the half-century bull market beginning in 1981. This is the Reader’s Digest version of last year’s analysis:ref 7

      • US Treasury bond rates dropped from the high teens to zero—the parameter for Buffett’s bull market.
      • Dropping rates were facilitated by China’s desperate need for capital as they pulled themselves out of the Dark Ages. They sold us goods and services for slave wages, which kept U.S. inflationary pressures contained. Those days are over, and November 5th may have added an exclamation point.

      It would be nice if the current system could go on a few years longer. But things look increasingly like something is going to break. For example, there is too much debt around the world holding up inflated asset prices. If these asset prices start going down, the debt bubbles look like they will pop, and banks will start failing. The US government (and other governments) do not possibly have money to bail out all of the defaulting debt. It would seem like something has to “give.”ref 8

      ~ Gail Tverberg, retired actuary and editor of The Oil Drum

      • By 1980, the boomers were hitting the work force and brought their wives. Economists tell us that demographics are a profound driver of wealth creation, and it has turned against us globally.ref 9 (I am being disingenuous as I often insult career economists out of the other side of my mouth.) Also, needing new entrants to the workforce to pay off unfunded liabilities of existing participants is the hallmark of a Ponzi scheme. Infinite population growth on a finite planet is nonsense. And, as noted in the section entitled, “Crisis at the Border” (Part 3), we don’t need more shockingly expensive huddled masses.
      • The Case-Shiller Price-Earnings Ratio (CAPE), one of several dozen valuation metrics that I monitor but is by no means unique, was sitting at bargain-basement level of 6 in ‘81, a low which was only exceeded by the valuations at the start of the roaring ‘20s. It is now parked at a vertiginous 38. For the motivationally or arithmetically impaired, that trough-to-peak trip represents a compounded growth in S&P 500 valuations of >4%. I have yet to see a cogent argument for why market valuations should trend. I will deal with that below.

      We’ve had 15 years of Disneyland that has destroyed the economic structure. Think about it: no interest rates. So anyone who’s 40 years old today has no experience in markets. Zero. They don’t know what time-value of money is.

      ~ Nassim Taleb

      A Case for a Forty-Year Secular Bear Market. What happens over the next forty years if the valuations compound at a net –4% annualized? (Technically, it would be slightly lower to do a full retrace.) That would create an 8% reversal from tailwind to headwind. I can hear you squealing yet again, “Oh that would never happen, right?” Let me reiterate again for the Department of Redundancy Department: there has never been an overvalued market that didn’t eventually find its way back to undervalued. It is an immutable Law of the Jungle. A generation of investors —maybe two generations—would be crushed by such a bear market. Those still alive will vow to never buy equities again. That will signal a nice bottom.

      We are in one of the most expensive markets in history, based on price-to-earnings ratios, price-to-book ratios, and other traditional measures.

      ~ David Rosenberg

      After numerous podcast appearances and exchanges on social media I have concluded that the 21st century investor has been pickled by recency bias—recent defined as nearly a half century. They do not understand the implications or the consequences of high valuations. Several dozen valuation metrics that I highlighted over the years share the common feature (requirement actually) that they are the price of a market divided by something that ought to track it. The numerator and denominator are both subject to the vicissitudes of currency debasement (inflation). As a corollary, inflation can’t save you from high valuations, but inflation can influence investors’ attitudes. Also, beware of false valuation metrics where the denominator might itself be in a bubble. Comparing equities to the price of bonds (interest rates), for example, is ridiculous given that the recent apex in bond prices represented the biggest bubble in the 5,000-year recorded history of debt. The bond market also seems to have witnessed a change of sign in the first derivative. Even something simple like record ratios of large caps to small caps to make a case for small cap investing does not mean the small caps are cheap, only relatively cheap. I will discuss how the Russell 2000 is not cheap below.

      The US valuations are just awful.ref 10

      ~ Jeff Gundlach

      This is the most expensive market of all time…I can’t really see what’s going to break the market at this time.

      ~ David Einhorn, Greenlight Capital

      The best way to illustrate the risk of high valuations is with some real and abstract examples. Buffett surely saw the dot-com crash coming. He may look like an old mobster walking the streets in a bathrobe drinking Cherry Coke and eating a Dairy Queen cone sprinkled with See’s Candy trying to look harmless, but he is a world-class stock jobber and was not fully pleased with his own performance. In particular, he lamented holding on to a chunky position in one of his favorites, Coca Cola. Its standard P/E ratio peaked at 50 in July 1998. It also was more of a royalty trust spewing out steady earnings than a growth company. At this price-to-earnings ratio, Coke was positioned to return 2% cash flow while 2-year treasuries were returning 5.5%. Although this is difficult to imagine, let’s say Coke could double its profits on an inflation-adjusted basis without the share price moving one red cent; it would have been priced to return only 4%. Ergo, Coke shares repriced. It took 15 years to recover that July 1998 high for the first time and 20 years to regain that 1998 price for the last time (hopefully). This does not include dividends (averaging about 3%) nor inflation (averaging whatever you want it to be if you work at the Fed.)

      Now imagine a hypothetical growth stock that you really adore. Call it Artificial Intelligence Design Systems (AIDS). It’s sitting at a P/E of 100 because, well, it’s a hot growth stock. It is currently priced to return 1% based on the cash flow. But it’s a growth stock so inflation-adjusted (real) earnings should double fast. OK. If inflation-adjusted earnings double, the shares will be priced to return 2% provided the price tracks inflation. Double the real earnings again and you are looking at a 4% cash flow, and now do it again to get to an 8% cash flow. Do you really think the markets will wait for AIDS to double inflation-adjusted earnings three times while the inflation-adjusted price doesn’t budge? Me neither.

      If you ever have the misfortune to have an investment that goes down for any amount of time…severity is bad, but duration is underrated when it comes to pain.

      ~ Cliff Asness

      Now project that same gedanken example to a real-life index with a P/E of 100. Let’s take, for example, the QQQ tech index or the Russell 2000. But wait a darn tootin’ minute, pardner. Both indices have P/E’s that are listed around 30. Well, since you brought that up, in 2017 Horizon Kinetics dug into the QQQ and discovered as described in their prospectus that they fudge the numbers.ref 11 The P/E ratios are averaged. Here is where it gets funky. All stocks with a P/E above 40 are rounded by the ETF protocols to 40, and all stocks with no (or negative) earnings are assigned a P/E of 40. This is tantamount to putting a theoretical P/E cap at 40. Horizon Kinetics, by contrast, treated the QQQ ETF as a gigantic Berkshire-like tech entity and simply added up the market caps and divided by the net earnings (earnings minus losses) to get a P/E of 90. I’m bettin’ it’s 100 by now (pardner). That same year Mark Hulbert did the same exercise with the Russell 2000 and also got a P/E of 90.ref 12 You think you are buying a 3% annual cash flow with potential for rapid growth while, in reality, you are buying a 1% cash flow. But, hey Boo, the potential for earnings to double over and over again is still there!

      We are now seeing markets that are wildly overvalued in places, reminiscent of the dot-com boom.

      ~ Charlie Munger

      Coming at this from one more angle. Scroll up to the Case-Shiller P/E chart, and note that the historical average value from 1870 to 1990 is about 12 as shown by the red line. The current value of 38 puts the S&P at 200% above the historical average value. Of course, you could correct this by dropping the share price by 66%, but you would be slapping a diaper on your face to stem the bleeding. Let’s imagine growing our way out using the following assumptions:

      • Despite the usual mishaps caused by the gaggle of diabolical wankerati inside the beltway, assume the GDP will repeat its growth of the 20th century, which is, optimistically, 2.5% annualized.ref 13 Repeating the performance of the 20th century wealth creation seems unlikely, but let me play optimist.
      • The price of the index doesn’t move on an inflation-adjusted basis.
      • You block and tackle your way out of the 200% overvaluation by growing the GDP, which is inherently an inflation-adjusted metric, albeit adjusted by economists.

      This is fourth grade arithmetic: If the S&P price change is exclusively inflation, you will grow your way into historical average valuation in 45 years. Tell me how that fits into your retirement plans. And if the market grinds its way to well below fair value over those 45 years, it could get fugly. Now squint at the chart below which I post every year without updating it and will continue to do so until it no longer fits my narrative. Those blue arrows correspond to periods of 40–70 years of the market treading water from peak-to-trough. As God said to Noah in Bill Cosby’s famous bit, “How long can you tread water?”

      If you aren’t willing to own a stock for 10 years, don’t think about owning it for 10 minutes.

      ~ Warren Buffett

      If you think you are a trader—if you think you have some secret advantage over the bazillion other traders in the world—then trade away. If, however, you are a buy-and-hold investor, these markets may continue to go up, but they are arithmetically widow makers. I have built my Bunker of Doom and may die in there from some PTSD-induced disorder, but I have no intention of being the guy who owns the top whenever it decides to arrive. It has made me look foolish for awhile, but it is OK being early when you are calling for a 40-year bear market. It is also a great call for 69-year-old: I will not live long enough to eat crow. My guess is that the BHAOs (Big Hairy-Assed Opportunities) in which markets are priced for credible cash flows will appear some time in the next decade.

      I doubt you’re wrong. Maybe just a bit too optimistic.

      ~ James G. Rickards, email

      What moves these markets? The current markets are like toddlers playing soccer. They are all chasing the same ball. It is all offense, no defense, and the guy in the goal isn’t even paying attention. The market valuations were following a well-defined channel for more than a century when circa 1994 they exited to the upside without looking back. They pinged historical average for a month or two in the depths of the 08–09 crisis, but then it was just a Denny Terrio dance party going forward. Perusing the curious compilation of charts in the WTF Happened in 1971,ref 14 several indicators of wealth inequality spiked in the mid 90s, but that probably has causality backwards. The Yuan got pegged to the dollarref 15 and NAFTA was implemented in 1994,ref 16 both of which influence trade flows, but that is an intellectual dead end for me. Regulations on credit lending limits were also relaxed that year and total debt has climbed markedly during this era. I repeat: What is driving markets and valuations relentlessly higher?

      The position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.

      ~ John Maynard Keynes (@FamousBastard)

      Several years ago in a Twitter spaces Mike Green—the go-to expert on the influence of passive investing—suggested to me that passive investing took off in the mid 90s. The clarity of the 1994 break alluded to in my 2021 YIRref 17 came via a Twitter DM from Mike:

      The [index funds] used to have to buy each stock individually. In 1994, in violation of the Investment Company Act, the SEC granted an exemption to index mutual funds to use futures… prior to 2004, the indices were market cap weighted. Most think they still are. No, they are FLOAT weighted. Pre-2004, index funds were buying in proportion to market cap. That meant 2x buying versus shares actually available to buy of companies with low float (like MSFT)

      Passive investing causes a tsunami of retirement savings to flood index funds. Equities are purchased with zero attention paid to the merits of the companies’ financials or the valuations. The funds hold no cash. As intellectually bankrupt as the “cash on the sidelines” trope is, there is no cash on those sidelines. The upward pressure on prices and valuations has been relentless with an ever-increasing and non-linear preference for the largest companies. This has not wreaked havoc on price discovery; price discrimination has been eliminated. Intellectual investment and analysis drop to zero. Mike reminds us that bloated share prices allow companies to compensate their employees and pay their bills using stock options.

      Now imagine the carnage if the flows reverse, and share prices start grinding lower. Selling will commense immediately owing to the lack of cash to cover redemptions. Employees wanting bankable cash compensation rather than options will cut into the companies’ bottom lines, which will drive prices lower. Most importantly, if passive investors bought on the way up, who will be the buyers on the way down?ref 18 Short sellers moderate markets by selling the tops and buying the bottoms. They are now extinct, so the tops aren’t being sold and the bottoms won’t be bought. This setup reminds me of the cash flow into regional banks during Covid that led to relentless buying of treasuries and the eventual crisis. Mike Green’s model is way more complicated than his quote implies and well above my paygrade; his analyses include the horrors of massive leverage amplifiers.ref 19,20

      I view the markets as fundamentally broken. Passive investors have no opinion about value. They’re going to assume everybody else has done the work…We are in a secular destruction of the professional asset management community.

      ~ David Einhorn

      Free markets and the efficient market hypothesis reflect the ideas presented in Joe Abercrombie’s The Wisdom of Crowds. The individuals know very little but, the crowd gets it right. It’s why the audience is almost always right in Do You Want to Be a Millionaire? The wisdom disappears, however, when the voting becomes correlated by tribalism. Passive investing in equity indexes is hyper correlation. One central maxim of finance says that when an investment idea becomes widely held, it is no longer a good idea…with a lag apparently.

      Everything popular is wrong.

      ~ Oscar Wilde

      Why are passive flows such a problem? As noted in the bulleted short-term risks, inflows should reverse as boomers retire, there are better opportunities in bonds, panicky investors will rush to escape the sell-off, foreign investors are already moving capital out of US markets, flows into the index fund will subside owing to job losses in a recession—yes we will still have those—and other gray swans will surface unexpectedly because they always do. Markets can go from serene to wobbly to emergent with little warning. Mike thinks those inflows may already be stalling. Buckle up.

      History argues against pandemics and wars as triggers.ref 21

      ~ Me, 2009, YIR

      Short-Term Risks. The rallying cry of the raging bulls is that market valuations tell you nothing about timing. Stein’s Law says the unsustainable must eventually stop. Pepper’s Law says Stein may be waiting a long, long time.ref 22 Indeed, but markets become profoundly fragile and shock sensitive near the peaks. When they finally top on some fateful afternoon at 2:03 PM, the market price quietly marks the point of maximum optimism with spectacular scenic vistas from the summit at the very instant your portfolio is to begin the Long Evisceration. The signs that the markets may be topping are already available to those willing to look. What might bring my pain to an end at the expense of your pain?

      We have totally full employment, totally wonderful profit margins. All the things you would not want to start a bull market from. This is where you start bear markets from. Great bull markets start with exactly the opposite.

      ~ Jeremy Grantham

      • The credit cycle appears to have already turned and inflation may have entered our DNA. Josh Hartnett of Bank of America calls this “devastating” and “the biggest story of the 2020s.”ref 23 Over the last half century bonds and stocks were complementary. When equities were getting trounced bonds rocked enough to deaden the pain. High inflation will inflict pain on both bonds and equities. When fewer and fewer stocks are dragging the markets to new highs while the market at large is foundering, the markets are “narrowing.” The top ten stocks represent the highest percentage of the total market cap since 1929.

      • Yield curve inversions wherein rates of long bonds are lower than rates on short-duration bills seem to preceed every recession. I can’t profess to understand this, but I can take it at face value. We just exited a deep yield curve inversion that is the longest in history lasting 789 days. (The second longest ended in 1929.ref 24)

      But so what? Nothing happened. That is because the same dusty archives show that it is when the curve uninverts—a so-called “bear steepener” for those who need an unsubtle hint—is when all hell breaks loose. The superficial argument is that inversion arrives after the Fed tightening cycle, whereas the bear steepener arrives when the Fed starts furiously dropping rates trying to unscrew that pooch.

      How much do valuations tend to increase, on average, in the 3, 6, 12, and 24 months following a Fed pivot? The answer is simple. They don’t.ref 25

      ~ John Hussman

      • While talking heads bellowed a rally would ensue when the Fed starts dropping rates, tightening cycles reveal these credentialed experts are without a clue. Look at the dates the Fed started dropping rates to handle the dot-com bust/recession and the Great Recession in the chart below. Those little dips that occurred concurrent to the dropping Fed Funds rate correspond to equity losses of –50% apiece. The Covid dip got smothered in the crib by massively spiking inflation emerging when the authorities jammed trillions of dollars straight at the consumers and businesses.

      The tops are nigh when the Fed starts dropping rates. The sell off during the rate drops is often quite large (>50%). The bottom is in when the Fed stops dropping rates. The Fed started dropping rates in March 16th, 2024. Let the games begin. I hasten to add that these correlations of rates and returns don’t necessarily indicate causation.

      • If Mike Green is right that the passive flows are on the cusp of rolling over, the selling by boomers to withdraw and protect their savings could be relentless. Unlike a portfolio of individual stocks in which investors would begin an orderly culling through careful pruning of selected equities, passive investors can eject the entire index with a single spasmodic click of a mouse. This could get entertaining fast.
      • As the Fed cut rates to the joy of those looking for a reprieve, the long-term rates went up. The 10-year is currently up 0.5% off the 9/6/24 bottom. One could argue the Fed has finally lost control of the yield curve. They are twirling their knobs, but the anticipated response is absent.

      The greatest credit event of all would be a recession in which US yields went up, not down.

      ~ Michael Hartnett

      • The $20 trillion, 40-year-old Yen Carry Trade—referred to as “one giant ticking timebomb”—is where you borrow from Japan for nothin’ and buy risk assets around the globe with Japanese Monopoly money. The Bank of Japan took baby steps via small rate hikes—hikes the size of the interest rate in your checking account—to warn the World the salad days of the carry trade are over. If you search “yen carry trade” on Google Trends you see a lot of people were trying to figure this out.ref 26 Some say the single-digit washout in the risk assets over several days solved the problem. My admittedly naïve view is that you do not unwind a 40-year-old, $20 trillion dollar bet in a few days. It’s a delayed fuse not a dud.
      • Silicon Valley Bank and a couple other large regional banks became insolvent rather quickly. Management was blamed for not hedging properly. Somebody must have dropped acid in my coffee: the banks went insolvent owning treasuries and it’s the banks’ faults? First of all, you cannot run a bank with the Fed’s TTMP (Third-Trimester Monetary Policy). You also can’t hedge all the banks using normal channels; we learned that in ‘07–’09. There are hundreds more insolvent regional banks according to some estimates as commercial real estate does laps around the drain.ref 27

      • Various sentiment indicators suggest The Final Exit is near. These include all-time lows in short interest ratesref 28 and all-time highs in the percentage of retail investors’ net worth committed to equities,ref 29 insider selling,ref 30 and equity futures positioning by asset managers. The Sahm Rule predicting recession was triggered in August (forcing everybody to scamper to Investopedia so that they could pretend they understood this.)ref 31

      • Consumer stocks like Target, Walgreens, and Advanced Autoparts are starting to get punished. I spilled almost no ink on the economy in this tome; it is too opaque because of the elections. The corpses will float to the surface soon.

      By the end, we’re 40 times leveraged with 0.1% growth to get what looks like 4% growth…find me an economist who can tell me what the real unleveraged growth of America is, and people will have an epileptic fit even thinking about it because it’s teeny.

      ~ David Murrin

      • Buffett is building a record pile of cash, and he is storing it in short term treasuries (bills). Theories abound, but one stands out: he knows that the toaster oven is about to be thrown in the pool and that long bonds will not be a safe haven this time. (Druckemiller is shorting long-duration US debt.) One of Warren’s top lieutenants apparently thought this was an inadequate defense and sold over half of his BRKA shares.ref 32
      • We are at the start of the presidential cycle. Those expecting Trump to save us ignore history showing the first two years are the worst. Trump also has a strong incentive for the purge to arrive soon to blame it on Biden. The equity bulls also offer up nothing to explain how Trump will alleviate 200% overvalued markets without severe pain.

      I am getting increasingly concerned that we have to endure another decline of 5 percent or more before the year is out.ref 33

      ~ Sam Stovall, CFRA Research’s chief investment strategist, way over his skis

      • The private credit market is an unregulated, difficult to measure leverage said to be in the trillions.ref 34 This is where vendor financed layaway and installment plans allow the consumer to keep the debt off their credit cards and the vendor to keep it off their balance sheets.ref 35 In a recession, will a strapped consumer pay their heating bill or make an payment on that BarcaLounger from Metromattress?
      • Russell Napier assures us that Japan will be forced to repatriate capital by selling assets abroad and that capital is moving to non-China emerging markets.ref 36 That would potentially force selling in the passively supported index funds.

      I feel like a lot of what’s perceived as wealth is an inflation illusion.

      ~ Stephanie Pomboy

      The Magnificent Seven. The Mag 7—Alphabet (Google), Amazon, Apple, Meta (Facebook), Microsoft, Nvidia, and Tesla—are the modern-day Nifty Fifty of 1967 or the 14 Japanese companies rounding out the top 20 companies in the world in 1989. Both offered up spectacular gains, culminating in catastrophic prospective losses. Sometimes the ten largest are discussed, but they lack the catchy name recognition. The Mag 7 are collectively overpriced, moreso than when I launched a diatribe against them in 2022, gloating about their recent beatings only to watch them humiliate me.ref 37 Nvidia (NVDA) has become the market and will be the focus of my scorn. Before projectile vomiting my sour Nvidia grapes, I want to share a few random bullets about the collective Mag 7 and the other players in the Mag 7—the Mag 6—that caught my attention.

      The only thing less valuable than Tesla stock is a fully grown adult at P. Diddy’s house.ref 38

      ~ Lewis Black

      • Billionaires including Warren Buffett, Stan Druckenmiller, Leon Cooperman, David Tepper, and Seth Klarman sold off the majority of their holdings in the Mag 7.ref 39 Earnings of NVDA, Apple, and MSFT are at 50x free cash flow and are believed by some to have peaked while their multiples remain lofty.ref 40 Over the last decade, MSFT’s dividend yield dropped from 3% to 0.7%.ref 41
      • Smart guys like Jesse Felder are eyeballing commodities that do poorly during recessions but lead the markets exiting recessions. Investech says the #1 sector following a market peak is usually energy. The entire commodity sector is on my Black-Friday wish list when the liquidation sales appear.
      • Fred Hickey, one of the veteran tech analysts, notes that MSFT is looking at single digit growth with a lot of that coming from rollups—the old growth-by-acquisition story that worked so well for Worldcom—while sporting a P/E of 40 and priced at 14x revenues. Sun Microsystems traded at just 10x revenues before their 95% swan dive in the dotcom swoon. MSFT is up 20x in 12 years. If profit margin growth rates and valuations return to 2012 levels, the marketplace must shave 70% off Microsoft’s share price. If revenues drop as well, all bets are off.

      If you think Silicon Valley knows what it’s doing financially, you really have to rethink things.

      ~ Jim Chanos, Kynikos

      • Google offered to sell part of its ad tech business to satisfy EU trust busters, but that was deemed inadequate.ref 42 Companies are forced into conservative stances (low profiles) while regulators are actually regulating. Meanwhile, its massive moat seemed invincible until AI showed up. They are now spending serious money simply to retain market dominance.
      • Apple shares tripled in the six years following 2018 (as of June) while revenues grew 5% annualized.

      Apple’s index representation is set to increase after Buffett’s sale fully unleashed the amount of stock available for trading. In turn, index-tracking funds will need to purchase the shares to mimic its growing heft.ref 43

      ~ Bloomberg, failing to understand the definition of “float”ref 44

      • The entire Mag 7 traded at 50 times free cash flow (as of April), and insider selling-to-buying hit 50:1.ref 45
      • Amazon looks unstoppable for now.

      Nvidia (NVDA) is the poster child of the New Era. I have seen cats chase laser pointers with less enthusiasm. I suspect NVDA and its CEO will be pictured on milk cartons when the next big whoosh lays waste to the indices. Some hang the Ponzi moniker on NVDA owing to massive valuations (50x revenues), shady dealings with Coreweave, and a CEO with bad press from past shenanigans.

      ~Me, 2023 YIR

      Nvidia. While nuclear-powered AI is said by some to be the greatest thing since the internet, profits from AI seem to not be materializing. The big players could spend huge bucks just to keep up with each other. Google is at risk of its invader-proof moat drying up. If the generations of technology roll over faster than the R&D can be amortized, AI companies could suffer death by creative destruction.ref 46 Meanwhile, the pick and shovel maker Nvidia has become the first $3 trillion company with a capacity to gain or lose hundreds of billions of dollars in a single day. They added more than the equivalent of Goldman Sachs in one night. Nvidia has become the technology market.

      • According to Jack Gamble, NVDA is vendor financing 35 customers, some with no apparent organic demand for chips. This includes a cannibis company ref 47,48 that may have thought the chips were edibles. Fred Hickey agrees on the vendor financing and suggests chip hoarding is causing price spikes on false demand as customers double and triple order.ref 49 We have seen this plot before. Coreweave has been a huge buyer of chips but then used them as collateral to borrow from Wall Street.ref 50,51 Jim Chanos concurs this is a problem.ref 52 Coreweave bought $2.3 billion in chips in 2023, which coincidentally is exactly the number of Nvidia’s earnings beat. This is to be expected when Coreweaves’ top dogs are asset managers not techies.ref 53 Blackrock was said to be poised to profit from their NVDA options more than they could lose if their loans to NVDA tank. Those guys are incorrigible.

      To get to a [pre-10:1-share-split] $740 share price simply requires NVDA to maintain a monopolist-like operating profit margin of 55% for the next decade, while also growing sales 10x to more than $600bn. For context, the entire industry sold $527bn worth of chips last year.

      ~ Jesse Felder (@jessefelder) not knowing that the price would soon double

      • Jack Gambles also noted that the massive SMCI “ricidivist fraud” is a problem given SMCI is one of Nvidia’s largest customers.ref 54 Hindenberg Research reminded us that SMCI’s largest customer is Coreweave.ref 55 SMCI tanked 80% off a high, but not until after it was brought into the S&P 500.ref 56,57 It is still up nearly 40% year to date.
      • The 5,000 small startup customers—anybody who can code has started an AI company—have no revenues, just a borrowed dollar and a dream. They are as financially sound as the bottom 20,000 cryptos.
      • Nvidia chips are overheating.ref 58
      • Nvidia insiders are selling at record levels.ref 59

      The U.S. Supreme Court will hear Nvidia’s appeal of a court ruling that accuses the company of committing securities fraud.ref 60

      ~ Bezinga Headline NVDA investors won’t want to read (and apparently didn’t)

      Nvidia gets subpoena from US DoJ, Bloomberg News reports

      –Reuters, another headline NVDA investors didn’t read

      • The current troubles with the SEC are simply a repeat of what happened in the dot-com bust as described in this 2002 Alex Berenson article.ref 61 It is the Jensen Huang playbook.
      • NVDA markets its chips to use AI to detect fraud.ref 62 You gotta admit that is funny.

      • Nvidia has been fined $5.5 million for hiding how many gaming GPUs were sold to crypto miners, essentially calling crypto miners gaming companies.ref 63

      Nvidia has been a high-wire act for some time.ref 64

      ~ Marc Cohodes, 2002

      There are a number of people who could have put Jensen in jail.ref 65

      ~ Marc Cohodes, 2024, quoting a source

      • Nvidia’s market cap is larger than all of the companies in the entire energy sector of the S&P 500ref 66 or the entire German market.
      • Jesse Felder says “the average EPS growth rate among AI ETF constituents has fallen from 18% to just 5%, below the S&P 500.ref 67
      • Huawei has a new AI chip to compete with Nvidia in China without getting tangled up in Washington’s chip sanctions.ref 68

      I think it is the biggest bubble I’ve ever seen. Nvidia is up $1 trillion in one month.

      ~ Fred Hickey, The High-Tech Strategist

      Nvidia is highly unlikely to be a long-term winner as the demand for picks and shovels occurs at the beginning of a gold rush, and then rapidly fades.ref 69

      ~ Dhaval Joshi of BCA Research

      So there you have it. Nvidia is the market. It has offered investors >170% one-year return and a 2400% five-year return. Will their 80% profit margins and valuations at >40x revenue and 100x levered-free cash flow hold up over time? During the dot-com bust Nvidia swan dived 90%. Could the drop be bigger this time? I said yes,ref 70 but what do I know? Here is the bullish case that says they just keep going up.ref 71 AI will likely be transformative and highly profitable, but probably to those who can buy the body parts at a deep discount after a period of carnage. Nvidia provides the infrastructure—the pipes—for AI. Corning provided the infrastructure—the light pipes—for the telecom sector and internet.

      I have a few questions. Will history refer to the “Magnificent Seven” as a success story or will they become the “Malignant 7” and join the Nifty Fifty and Dotcoms in the Hall of Shame? That I need not even define “Mag Seven” for the reader is a tell. The Yahoo Finance page has a picture of Jensen Huang every…single…day. He has been on countless magazine covers. This seems like the magazine cover jinx that is now an infamous top call, but—and this is Kim Kardashian-sized but—Jensen has not yet been on The Economist. However, as they said in Starwars, there is another…

      Market Bullets. Before my final wrap up, let’s peek at a couple of funny stories of the type that emerge before the proverbial tide recedes.

      • A 26-year-old pumped a random crypto—fondly referred to as a shitcoin by the bitcoin elite—and turned $900 into $100,000.ref 72
      • The US will award Intel nearly $20 billion in grants and loans to help fund an expansion of its semiconductor factories, apparently to make sure failing companies stay in the US and make sure creative destruction is nipped in the bud.ref 73 It makes you wonder if the billions of dollars spent on share buybacks could have been used more productively for a little R&D. Intel lost 26% in one day.
      • McDonald’s P/E of 25 suggests a 4% annual return. I was impressed by the lines in the drive-through until I realized it was operationally one cashier. Their revenues haven’t budged in a dozen years. Their 200% capital gains over the last dozen years is driven by 150% growth in P/E (valuation). They do have a nice real estate portfolio in the event that franchises fail. McDonald’s “indefinitely” halted onion sourcing from one supplier after an E. coli outbreak sickened at least 75 people. Sounds like an average day for McDonalds. They should have called them “vaccines”, and the authorities would have turned a blind eye.
      • What the heck is going on in those last six months of this S&P chart? Bernie Madoff showed us linearity is often fraud.

      • RCA shares rose 200-fold in the decade leading up to 1929 and dropped 98% (50x) over the next 3 years.ref 74 That’s a nice 4x gain over a dozen years, but I betcha that was little consolation to most investors.
      • A third of all S&P 500 trades occur in the final 10 minutes of the session.ref 75
      • Gamestop more than doubled overnight when “Roaring Kitty” announced he was in pursuit. Mr. Kitty is rumored to have become a billionaire.ref 76 Does this sound like the Wall of Worry?

      Chewy surges after ‘Roaring Kitty’ discloses stake.

      ~ Yahoo Finance Headline

      When a stock surges 90% because of the “Return of Roaring Kitty”, you know we are currently living in one of the most speculative environments in history.

      ~ Otavio Costa

      By the way, what does a whale that can move markets by simply spouting out his blowhole actually look like? This is Roaring Kitty. Are you not entertained now? The Game is indeed nearly over.

      In conclusion, we are witnessing the great cycle of life. As the markets pull out of some secular low and climb the wall of worry, credit loosens, entrepreneurs begin taking baby steps at creating new wealth, eventually reaching a climax—a blow-off top. Prior to the collapse, the smart guys will have already snuck out the back door to safe havens, leaving the risk in pension plans run by Hillbillies. As the collapse wreaks havoc and crushes the nouveau poor, the “elites” will foreclose on the malinvestment and confiscate the portions of the wealth that survive the washout for pennies on the dollar. Who bought the real estate that went on the auction block in 08–09? Not you or me.

      Après le deluge, the cycle starts all over again. A 1994 paper by Romer and Akerloff described the great wealth transfer of the boom-bust cycle.

      I’ve saved my really big concern for last. We appear to be in yet another investment mania. Wall Street guys call it a “blow-off top”, which is coded language for getting you to keep putting your money in through fear that you will miss the best part—the Grand Finale. Lincoln made that mistake too. Yet, somehow, nobody seems euphoric. The Roaring 20s got their name for a reason. The dot-com boom felt like we had catapulted into the future. The housing mania that drove the markets to the ’07 top was euphoric as nouveau homeowners thought Oprah would be giving everybody a house and a pony. During this latest high, by contrast, the Left Half think their lives are over because the Orange Man won. The Right Half voted for the radical reform because they have had enough of the Left Half. The Bottom Half are working two jobs to pay their bills because of the surging cost of living. The Top Half will do anything to avoid returning to the Bottom Half (including selling into a panic). Politicians are despised, the mainstream media is hated, and the healthcare profession killed people. Universities are viewed as neo-Marxist training camps and too damned expensive. It feels like a mix of 1860 USA and 1789 France.

      Here is the Really Big Question:

      If everybody is so grumpy at the top, what the hell is the next recession and accompanying bottom going to look like?

      Electric Vehicles and Green Energy

      There is not the slightest indication that [nuclear energy] will ever be obtainable. It would mean that the atom would have to be shattered at will.

      ~ Albert Einstein, 1932.

      To state the obvious, energy runs the world. The entire growth of civilization is about harnessing enthalpy (heat) to overcome entropy (chaos). Without the constant input of enthalpy, civilization will decay into a state of maximum entropy, and Bartertown may be our best-case scenario. Beginning with The Quest for Fire, every major advance in cultural evolution demanded increasing energy efficiency from trees, peat bogs, whale blubber, coal, oil, natural gas, and the atom. I am convinced that anthropogenic climate change is a load of anthropogenic crap brought to us by tens of trillions of dollars of anthropogenic grift and global authoritarianism.

      I have run out of patience with policymakers, corporate decision-makers, and investors who collectively throw up their hands and say, ‘Don’t blame me.’ There is no excuse to fall for the myth of being victimized by the unprecedented.

      –Stephen Roach in Myth of the Unprecedented

      Here is where I cut the psychopaths some slack: maybe they are in a position to see that changes are coming and, to quote a famous former governor, “Fuck your freedoms.” The Club of Rome was not nuts asserting exponential growth on a finite orb is arithmetic nonsense as brilliantly described in talks by Albert Bartlett.ref 1 The obvious and final play is nuclear. Perceived risk is amplified by the vivid imagery of Three Mile Island, Chernobyl, and Fukushima setbacks; there were no fatalities at the former two, and an estimated 31 died in the immediate aftermath of Chernobyl. By contrast, wind turbines kill several dozen people per year. My interest in energy and electric vehicles is a combination of curiosity, investment opportunity, and tracking the twisted globalists’ quest for global domination. There are plenty of energy experts; I find the pseudonymous Doomberg to be a fabulous source of grounded wisdom.ref 2

      The energy transition is failing and will fail.ref 3

      ~ Barry Norris, the founder and chief investment officer of UK hedge fund Argonaut Capital Partners LLP

      Electric Vehicles. The electric vehicles (EVs) came on too fast. You cannot legislate solutions to technical problems. The EV market appears to be heading for a shakeout that is not just about a bursting bubble on Wall Street. It is bullet time:

      • The basic idea of driverless cars was beta tested more than a half-century ago. They suggested it would take 30 years to put into practice. Here is a brief illustration.ref 4

      • BMW declared the 2035 ban on vehicles based on internal-combustion engines (ICEs) is “no longer realistic”.ref 5
      • The Chinese company EV SVOLT Energy plans to exit Europe by 2025 due to declining EV sales.ref 6
      • Hyundai is being sued by a dealer that claimed to be pressured to cook the EV sales numbers. Dealers were punished by getting allocated the EVs that don’t sell well and were denied discounts.ref 7

      • The Biden administration tried to mandate that >50% of all U.S. car sales in the US are EVs by 2032. Last year, EVs were were 8% of the market.ref 8 Such bureaucratic pronouncements may prove unconstitutional after the Supreme Court overturned the Chevron Doctrine.ref 9 They also fly in the face of the DBD (Drill Baby Drill) initiative of the next administration.
      • German Green Loons called “Vulkangruppe” (Volcano Group) attacked Germany’s electricity infrastructure that appeared to target Tesla’s Gigafactory.ref 10 Aren’t they supposed to keep their Vulkan hands off EVs? The French and German Green Parties have lost half their membership in five years, suggesting that the populace is growing weary of the biodegradable speed bumps appearing during rush hour. So-called “greensliding” arrives when the cost of energy rises.

      Something super weird is going on, as Tesla was the *only* car company attacked!ref 11

      ~ Elon Musk on the German attacks on Giga factory

      • Incentives include $7,500 per vehicle by the US Taxpayer, another $1,500 by state and local taxpayers, and countless grifts from the Feds for building EV plants. The EVs still cost, on average, almost $20,000 more than ICEs.ref 12
      • Resale prices of late-model EVs collapse (>60%) after only 10,000 miles, becoming ELs (electric lemons).ref 13,14 Financial carrot to financial car rot in one year.

      The investment community’s belief that EVs will displace the internal combustion engine remains as strong as ever. We vigorously disagree… Despite claims to the contrary, our research suggests EVs are less energy efficient than internal combustion engine automobiles. As a result, they will fail to gain widespread adoption.ref 15

      ~ Goehring & Rozencwajg

      • EV maker Rivian is headed into liquidation, dragging its supply chain with it.ref 16,17 Who the hell would buy one of these? Good luck finding a local Rivian dealer when you need a repair; their direct-to-consumer model means the dealers don’t exist.

      Electric vehicles (EVs) are piling up on lots across the country as the green revolution hits a speed bump, data show.ref 18

      ~ USA Today, November 14, 2023

      • EV battery makers appear to be pausing billions of dollars of new facility construction.ref 19
      • Hertz bought a fleet of EVs and then bailed on them at a great loss while destroying the resale market.ref 20

      The road to electrification could be bumpier than anticipated.

      ~ Stephen Scherr, Hertz CEO…oops…ex-CEO

      • Volkswagen has requested leniency from European regulators mandating EV sales.ref 21 It is headed for a 10% cut of its German workforce.ref 22
      • One of Hollywood’s electric-powered intellectual juggernauts, Alyssa Milano, drew a line in the sand and became the Volkswagen’s EV pitchwoman…

      The Twittersphere pointed out that Volkswagen was run by Nazis. She deleted her Twitter account.

      • Europe witnessed an 11% drop in EV sales in March with sales in Germany tanking 30%.ref 23
      • Ford is bailing on EVs at the cost of $1.9 billion and turning to hybrids.ref 24,25 The estimated loss per vehicle sold seems to cover a wide range but tops out at $120,000.ref 26,27,28 Perhaps they could make up the losses on volume.
      • China is ready to sell $14,000 EVs,ref 29 spooking Tesla out of the economy car market. Democrat Sherrod Brown wants to ban Chinese EVs because they pose “an existential threat” to the American auto industry.ref 30 He showed evidence of a brain stem when he noted, “The authors are concerned about the recent push to rely on modeling and assumptions about CO2’s capacity to drive changes in global temperature rather than observational evidence. They point out the current CO2-is-the-climate-control-knob zeitgeist is no more than a hypothesis.”

      Well, hells bells. Let’s get more government in the game…

      • A two-year, $7.5 billion Biden Administration investment in EV charging stations produced just 7 charging stations with 38 total ports.ref 31 prompting one Republican to slightly understate, “We have significant concerns that under your efforts American taxpayer dollars are being woefully mismanaged.” That money went somewhere, and 10% for the Big Guy is not chump change.
      • Washington State’s Governor is offering $45 million of subsidies to 9,000 eligible “low income” families to “democratize EVs” that even high income people can barely afford to buy and keep on the road.ref 32
      • Electronic bus maker Proterra got at least $8 billion and then went belly up.ref 33 Jesse Watters called it a pump and dump scheme. Big players had big positions. Insiders got out before the shares crashed to 17 cents. Maybe it was an inside job…

      I have a particular fondness, I must tell you, for electric school buses. I love electric school buses! I just love them for so many reasons! Maybe because I went to school on a school bus. Hey, raise your hand if you went to school on a school bus!

      ~ Kamala Harris, former future President

      The bottom line seems to be that EVs cost way more than ICEs to buy, finance, insure, and repair. They hold value like bananas left on the countertop. You can’t refuel them in two minutes. They can catch fire, rip through tires because of the excessive weight, get written down near zero after a fender bender because the integrity of the battery is unknowable, experience software crashes worse than Windows 95, witness precipitous drop in miles per charge in cold weather, strain the grid, and bankrupt rental agencies because of all of the above.ref 34 Otherwise, they’re great! That leads to the ultimate question: where will we get all the green energy to power all those green cars?

      The nation that destroys its soil destroys itself.

      ~ President Franklin D. Roosevelt

      Biomass-Derived Energy. I’ve written about biomass before. its problems were vividly laid bare by, of all people, Michael Moore in his Planet of the Humans documentary.ref 35 Destroying the World’s arable soils so that you can drive your car is insane. Of course, the corn lobby will keep the ethanol subsidies coming much the way wool subsidies refuse to die. Otherwise, I sense the idea has already died on the vine.

      We built a heck of a lot of wind capacity in 2023 in the United States, but the actual amount of wind electricity produced went down simply because you have wind droughts.ref 36

      ~ Dan Kish, energy economist, Institute for Energy Research (IER)

      Wind Turbines. Wind is close behind. Construction and disposal of wind turbines are environmentally brutal. The ornithologists detest the deaths of migratory birds while missing the possible benefits of catching them with nets to make raptor stews. Turbines turn pristine landscapes into eyesores. I used to fish off Wolf Island in the Saint Lawrence River. It is now a big wind farm. Next time you drive by a windfarm, count how many turbines are not turning.

      Wind turbines seem likely to follow biomass into the dustbin of history. If you want an interesting takedown, listen to this 4-minute riff on wind turbines in the show Landman.ref 37 Let’s shoot them with a few bullets anyway.

      • A credible source passed along the anecdote that we have spent $5 trillion to develop alternative energies and decreased the proportion of total energy derived from fossel fuels from 82% to…(envelope please)…81%!ref 38
      • The Australian government pays $600,000–$900,00 per turbine per year. The grifters pay farmers $12,000 per turbine on their land. The contract leaves the farmer with all future responsibility for the turbines. (Do your due diligence on this one.)ref 39
      • The visually horrific wind turbines off the Nantucket shore began washing up on Nantucket (along with dead whales).ref 40 What happens when a nor’easter comes ripping through?

      • New York agreed to pay $155 per megawatt hour for two windfarms off the coast of Long Island, which compares relatively unfavorably to $36 Per MWH for standard energy.ref 41
      • Cargo ships are being fitted with giant kites to slash the carbon emissions. I could be wrong, but I think the Phoenicians get credit for this idea.ref 42

      Solar Power. Cradle-to-grave analyses of the efficacy of alternative energies require a detailed investigation of the overall cost, resource depletion, net energy cost after the consumption of fossil fuels have been accounted for, and all of the above when it comes time for the grave. Analyses by many including David MacKay,ref 43,44,45 whose work came highly recommended by energy security analyst Iddo Wernick,ref 46 have convinced me alternative “green” energies cannot replace fossil fuels. The incentives for those in the alternative energy industry to carry out such detailed analyses is akin to the incentives of Pfizer to find all the flaws in their drugs and vaccines.

      The problem of solar panel disposal will explode with full force in two or three decades and wreck the environment because it is a huge amount of waste and they are not easy to recycle.ref 47

      ~ Forbes

      Hundreds of millions of solar panels are in service; most have a lifespan of under 30 years. Each year, their electric output drops by at least half a percent, and given enough time they must be replaced. Best I can tell, nobody has figured out how to solve the “intractable problem of hazardous waste disposal”ref 48 once the solar panels have gone to the light. I am by no means an expert, but this serves as a warning to eco-bliss-ninnies who embrace alternative energies without much thought. Developers who pocketed huge profits and are arguably responsible for them cradle-to-grave will be long gone when that grave part arrives.

      I am just topping off years of casual reading about energy, admittedly accruing wisdom incrementally:

      • First Solar in Arizona is worth $19 billion. They get 90% of their profits from government subsidies;ref 49 an estimated $1 trillion of such subsidies are handed out by taxpayers annually. Recall the $535 million given to Solyndra by the Obama administration before they (Solyndra, that is) went bankrupt.ref 50
      • As told by Mish Shedlock, rooftop solar panel companies that got huge subsidies from the ironically named Inflation Reduction Act are falling like dominoes because they are uneconomic even with the Government Grift.ref 51 The subsidies remove the critical indicators needed by the free market, which drives out potentially competitive solutions.
      • The 1.8 million solar panels at the Gemini site can generate enough power to supply 10% of Las Vegas at peak demand. Peak demand from air conditioning coincides with peak production, but the strip remains an energy bloodsucker at night.ref 52
      • The world’s largest floating solar farm got washed away by a storm,ref 53 and the climate cultists claim the storms are getting more severe. The good news is that there is no evidence of increased frequency or severity of storms.ref 54
      • A hail storm in Texas destroyed 1,000’s of acres of solar farms.ref 55

      • The Biden administration offered 55 million acres of public lands for solar farms.ref 56 That is a lot of acreage allocated to eyesores.
      • Subsidies for rooftop solar panels doubled in the last three years. Consumers using conventional energy contribute 15% of their energy bills to pick up the tab.ref 57

      As Europe and the rest of the World get pounded by energy shortages, people may soon be begging for nuclear power plants in their backyards — NIMBY turns RIMBY (right in my backyard).

      ~ Dave Collum, 2023, cited In Gold We Trust

      Nuclear Energy. I have been confident for awhile now that nuclear power was going to return. It must return. The bombing of the Nordstream pipeline struck me as a trigger. Freezing a few asses off in a chilly Northern European winter would have the Germans begging for a plant in their backyards. That didn’t happen, but there emerged an urgent push for nuclear energy that came with little warning inside the Trojan Horse of AI.

      Our children will enjoy in their homes electrical energy too cheap to meter.

      ~ Lewis L. Strauss, chairman of the Atomic Energy Commission

      Chips used for AI suck up 5–10x more power than standard CPU systems.ref 58 I call it a Trojan Horse because I believe the enthusiasm for AI is not just putting pressure to find better sources of energy. AI is being used to generate the “buzz” to get sign-off by the public on nuclear energy. I can imagine a future in which Apple, Microsoft, Google, and Amazon are the largest components in the XLE energy index. All the cool kids like Gates, Fink, Jensen, and Altman are on the bandwagon. Moreover, the timescales often cited are in years not decades. Something has changed. The big money is all in, which means nuclear energy is surging.

      I am playing catchup here, but the “next gen” or “second gen” small modular reactors (SMRs) can be mass produced. Our nuclear sub fleet illustrates the basic idea. Cost estimates are all over the map, but the wild variations appear to trace to regulatory uncertainties, which can be bulldozed if the mood is right. Energy whiz Doomberg did a back-of-the-envelope calculation showing that the footprint of a traditional reactor is <2% that of a solar farm that could put out the same energy. Reactors of old use only 4% of the potential energy (radioactivity), sending 96% of the radioactivity to waste in concrete sarcophagi perched on concrete slabs. The new SMRs use nearly 100% of the available radioactivity. Is it possible that the radioactive waste can be recovered and used? If so, investor enthusiasm for uranium mining companies may be misplaced.

      • A $1.5 billion federal loan will back restarting a nuclear power plant in southwestern Michigan.ref 59
      • Microsoft has expressed an interest in reopening Holtec’s Palisades Three Mile Island nuclear plant and purchasing all of the energy to run their new AI server farms.ref 60,61 The current owner will pony up $1.6 billion to restart it. I have to wonder how one sets the price of the energy with a single-purchaser monopsony. Where are the government subsidies hiding, and what happens if Microsoft loses interest or if the plant has another “event”?

      • Amazon is committing to investing more than $500 million to develop SMRs.ref 62 One can only imagine the subsidies involved. And right on cue, Virginia Gov. Glenn Youngkin threw in his moral support.
      • Bill Gates is pledging billions to back TerraPower LLC.ref 63 “I put in over a billion, and I’ll put in billions more.” The AI sector alone is predicted to consume 3.5% of global electricity by 2030 at current production levels.

      • The Sam Altman-backed SMR startup Oklo that is projected to launch by 2027.ref 63 The Department of Energy is kicking in four cost-share awards and an expedited site-use permit. This compact 15-megawatt reactor will cost around $70 million. The federal ADVANCE Act is greasing the skids for licensing, fuel supply chain, reduced fees, overall shortening of timelines, and “offering incentives.”
      • And, meanwhile, German greens somehow did not get the memo…

      We are heading for nuclear power at warp speed. One wonders what changed. To reiterate: My thesis is that AI is being used to generate the buzz, but that may be thinking too small. Maybe we are witnessing a three-movement concerto: (1) the global climate hysteria, (2) the green energy grift, and (3) the nuclear energy finale. Meanwhile, the US is playing catch up…

      A big question is how fast can the global electric grids be fortified to handle the massive draw from EVs and AI?ref 64

      Part 2 will be published soon…

      Tyler Durden
      Thu, 12/26/2024 – 16:30

    • Exploring Six On-Chain Indicators To Better Understand The Bitcoin Market Cycle
      Exploring Six On-Chain Indicators To Better Understand The Bitcoin Market Cycle

      Authored by Matt Crosby via BitcoinMagazine.com,

      With Bitcoin now making six-figure territory feel normal and higher prices a seeming inevitability, the analysis of key on-chain data provides valuable insights into the underlying health of the market. By understanding these metrics, investors can better anticipate price movements and prepare for potential market peaks or even any upcoming retracements.

      Terminal Price

      The Terminal Price metric, which incorporates the Coin Days Destroyed (CDD) while factoring in Bitcoin’s supply, has historically been a reliable indicator for predicting Bitcoin cycle peaks. Coin Days Destroyed measures the velocity of coins being transferred, considering both the holding duration and the quantity of Bitcoin moved.

      Figure 1: Bitcoin Terminal Price has surpassed $185,000.

      View Live Chart 🔍

      Currently, the terminal price has surpassed $185,000 and is likely to rise toward $200,000 as the cycle progresses. With Bitcoin already breaking $100,000, this suggests we may still have several months of positive price action ahead.

      Puell Multiple

      The Puell Multiple evaluates daily miner revenue (in USD) relative to its 365-day moving average. After the halving event, miners experienced a sharp drop in revenue, creating a period of consolidation.

      Figure 2: Puell Multiple has climbed above 1.00.

      View Live Chart 🔍

      Now, the Puell Multiple has climbed back above 1, signaling a return to profitability for miners. Historically, surpassing this threshold has indicated the later stages of a bull cycle, often marked by exponential price rallies. A similar pattern was observed during all previous bull runs.

      MVRV Z-Score

      The MVRV Z-Score measures the market value relative to the realized value (average cost basis of Bitcoin holders). Standardized into a Z-Score to account for the asset’s volatility, it’s been highly accurate in identifying cycle peaks and bottoms.

      Figure 3: MVRV-Z Score still considerably below where previous peaks have occurred.

      View Live Chart 🔍

      Currently, Bitcoin’s MVRV Z-Score remains below the overheated red zone with a value of around 3.00, signaling that there’s still room for growth. While diminishing peaks have been a trend in recent cycles, the Z-Score suggests that the market is far from reaching a euphoric top.

      Active Address Sentiment

      This metric tracks the 28-day percentage change in active network addresses alongside the price change over the same period. When price growth outpaces network activity, it suggests the market may be short-term overbought, as the positive price action may not be sustainable given network utilization.

      Figure 4: AASI indicated overheated conditions above $100,000.

      View Live Chart 🔍

      Recent data shows a slight cooling after Bitcoin’s rapid climb from $50,000 to $100,000, indicating a healthy consolidation period. This pause is likely setting the stage for sustained long-term growth and does not indicate we should be medium to long-term bearish.

      Spent Output Profit Ratio

      The Spent Output Profit Ratio (SOPR) measures realized profits from Bitcoin transactions. Recent data shows an uptick in profit-taking, potentially indicating we are entering the latter stages of the cycle.

      Figure 5: Large SOPR clusters of profit taking.

      View Live Chart 🔍

      One caveat to consider is the growing use of Bitcoin ETFs and derivative products. Investors may be shifting from self-custody to ETFs for ease of use and tax advantages, which could influence SOPR values.

      Value Days Destroyed

      Value Days Destroyed (VDD) Multiple expands on CDD by weighting larger, long-term holders. When this metric enters the overheated red zone, it often signals major price peaks as the market’s largest and most experienced participants begin cashing out.

      Figure 6: VDD is warm but not too hot.

      View Live Chart 🔍

      While Bitcoin’s current VDD levels indicate a slightly overheated market, history suggests it could sustain this range for months before a peak. For example, in 2017, VDD indicated overbought conditions nearly a year before the cycle’s top.

      Conclusion

      Taken together, these metrics suggest that Bitcoin is entering the latter stages of its bull market. While some indicators point to short-term cooling or slight overextension, most highlight substantial remaining upside throughout 2025. Key resistance levels for this cycle may emerge between $150,000 and $200,000, with metrics like SOPR and VDD providing clearer signals as we approach the peak.

      For a more in-depth look into this topic, check out a recent YouTube video here: What’s Happening On-chain: Bitcoin Update

      Tyler Durden
      Thu, 12/26/2024 – 15:45

    • Biden Quietly Signs 50 Bills Into Law On Christmas Eve
      Biden Quietly Signs 50 Bills Into Law On Christmas Eve

      Without much fanfare, President Joe Biden signed 50 bills into law on his last Christmas Eve in the Oval Office – ranging from establishing the first federal anti-hazing college campus standard, to making the Bald Eagle the country’s first official bird, to preventing federal agencies from issuing “useless reports” (by who’s standard?).

      President Joe Biden speaks at the Department of Labor in Washington on Dec. 16, 2024. Kevin Dietsch/Getty Images

      The bills also named federal buildings and post offices, a law to hold youth treatment and care centers more accountable, and a law which precludes members of Congress from collecting pensions if convicted of crimes.

      The Epoch Times has more detail on some of the bills:

      SB 4610 designates the bald eagle as the national bird, clearing up what has been assumed but not codified for nearly 250 years.

      The bill, co-sponsored by Sens. Amy Klobuchar (D-Minn.), Cynthia Lummis (R-Wyo.), Markwayne Mullen (R-Okla.), and Tina Smith (D-Minn.), was passed by the Senate in July and by the House Dec. 16.

      It states “bald eagles are a historical symbol of the United States representing independence, strength, and freedom; the bald eagle is unique to North America; the bald eagle image remains the leading insignia for all branches of the United States military.”

      It notes that on June 20, 1782, the bald eagle was adopted as the Coat of Arms for the United States Great Seal but there was never any formal language encoded to designate it as the national bird.

      The new law remedies that by amending Chapter 3 of Title 36, United States Code to state, “The bald eagle (Haliaeetus leucocephalus) is the national bird.”

      A Bald Eagle flies over Caroons Lake in Massapequa, N.Y., on on Aug. 11, 2024. Bruce Bennett/Getty Images

      Senate Bill 1351, the “Stop Institutional Child Abuse Act,” creates a federal work group on youth residential programs to oversee the health, safety, care, treatment, and placement of minors in rehab and other programs.

      The bill had 24 bipartisan cosponsors and was adopted in the House, 373-33, on Dec. 18, after the Senate passed the bill by unanimous consent.

      The bill was notable for the personal involvement of socialite and activist Paris Hilton, who testified before the House Ways & Means Committee in July about mistreatment and abuse she claims to have experienced in treatment centers.

      House Bill 5646, the “Stop Campus Hazing Act,” co-filed by Reps. Lucy McBath (D-Ga.) and Jeff Duncan (R-S.C.) and 57 co-sponsors, passed both chambers in unchallenged voice votes.

      The act, spurred by a North Carolina State University report that hazing is rampant on many college campuses, requires federally funded higher education institutions to disclose hazing incidents reported to campus or local police authorities in their annual security reports beginning Jan. 1, 2025.

      The president also signed SB 932, the “No CORRUPTION Act,” co-sponsored by Sens. Jacky Rosen (D-Nev.), Rick Scott (R-Fla.), and Josh Hawley (R-Mo.), which disqualifies a member of Congress “convicted of crimes related to public corruption” from receiving their retirement payments.

      The bill—in long form, the “No Congressionally Obligated Recurring Revenue Used As Pensions To Incarcerated Officials Act”—was adopted in the Senate in July and by the House on Dec. 16.

      Celebrity hotel heiress Paris Hilton poses for photographs outside the U.S. Capitol to show her support for the Stop Institutional Child Abuse Act, on Dec. 17, 2024. Chip Somodevilla/Getty Images

      It eliminates a loophole that allowed members to continue receiving checks while exhausting appeals, an exploitable oversight exposed by the investigation into Sen. Bob Menendez (D-N.J.). Menendez was found guilty in July of accepting bribes in exchange for using his political influence

      HB 5301, the “Eliminate Useless Reports Act,” seeks to streamline federal reporting processes by requiring federal agencies to file a list of outdated or duplicative plans or reports in their annual budget justifications.

      The bill was introduced in 2023 by Rep. Robert Garcia (D-Calif.) with support from co-sponsors Reps. Glenn Grothman (R-Wis.) and Chuck Edwards (R-N.C.), adopted by the House in November, the Senate on Dec. 11.

      The president signed a slate of bills renaming local postal offices in Texas and California. A San Francisco post office will be renamed in honor of the late Sen. Dianne Feinstein (D-Calif.), who passed away in September 2023.

      Tyler Durden
      Thu, 12/26/2024 – 15:20

    • 2024 Closes With Strongest 7 Year Auction On Record
      2024 Closes With Strongest 7 Year Auction On Record

      The final coupon auction of 2024 is now the history books and on the day yields blew out to 6 months highs and just shy of the highest level of 2024, it is probably not a surprise that demand was stellar.

      Stopping at a high yield of 4.532, this was – not surprisingly after the Fed’s hawkish pivot – the highest yield since May. It also stopped through the When Issued 4.532 by 2.1bps, the biggest stop through since January 2023. It was also the 4th consecutive stop for the 7 year tenor, the longest such stretch on record.

      The bid to cover was also remarkable: surging to 2.758 from 2.709 in November, this was the highest bid to cover since March 2020, aka the depth of the covid crisis when everyone was fleeing into TSYs.

      And while this metric was remarkable, the internals were absolutely off the charts, with indirects exploding higher to 87.9% from 64.1%, the highest on record by a long shot. This left virtually nothing for Directs who took down just 2.85%, a record low, while Dealers were awarded 9.3%, the lowest since October.

      Overall, it is somewhat fitting that in this upside down market, where “investors” are dumping value energy names trading at single digit PEs to buy megashoter, garbage “AI story” stonks which will never not survive more than a year or two, let alone make a profit, that the final auction of the year would also be the best 7Y auction on record.

      It is also not a surprise that with the market positioned extremely bearishly, that there was another round of short covering which sent 10Y yields from day highs of 4.64% around noon to just around 4.57% after today’s blowout auction as the name of the game in this “market” is just to squeeze as many shorts as possible.

      Tyler Durden
      Thu, 12/26/2024 – 15:19

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    Dec 26

    Today’s News 26th December 2024

    • China Drone Swarms And US Lasers: The Coming Revolutions In Warfare
      China Drone Swarms And US Lasers: The Coming Revolutions In Warfare

      Authored by Anders Corr via The Epoch Times,

      Given the coming technological revolutions in warfare, it is important that the United States and our allies get out in front early, keep the lead, and degrade the adversary’s capabilities.

      China’s “loyal wingman” fighter drones get a lot of attention these days. The wingman is a force multiplier, meant to fly in numbers alongside its crewed jet fighters or to lead a fleet of smaller drones. If deployed in a swarm, the wingmen and smaller drones could quickly overwhelm a fleet of manned fighter jets and air defenses. They are jet-powered but far less expensive than a regular fighter jet to fly, in part because they do not require a trained pilot. Some simulated dogfights between human pilots and artificial intelligence (AI) pilots who learn on the fly have resulted in AI wins as far back as 2020.

      The latest iteration of the Chinese wingman drone—called the Feihong FH-97A—appears to be a vast improvement over the earlier versions unveiled in 2022 and 2023. The FH-97A is reportedly faster than its U.S. counterpart, the XQ-58A Valkyrie. The range of the FH-97A is about 620 miles. The current range is more than enough to reach anywhere in Taiwan, plus sea lanes on the eastern side of the island that would be critical for provisioning Taiwan in case of a war or naval blockade. From Chinese possessions, the FH-97A can range all of South Korea, the East China Sea, parts of Japan and the Philippines, and all of the South China Sea through island hopping on China’s airfields and artificial islands.

      Moreover, the FH-97A could, in the future, be used to attack any part of the United States or Europe, given that it can catapult launch from aircraft carriers and because the People’s Liberation Army (PLA) has plans to give it aerial refueling capabilities. The drones will add to the power of the PLA Air Force’s other recent innovations (and thefts from the United States), including stealth fighter jets and stealth bombers. The drones can be used for air- and land-attack missions, electronic warfare, reconnaissance, and bomber escort.

      While the United States has long had better-trained fighter pilots and more advanced planes, giving it air superiority over China, those tables could be turning. Without the need for pilots but rather the utilization of AI programs that have demonstrated superiority, China’s age of high technology and mass industrial production could far outproduce the United States and shift air superiority decisively to the PLA.

      This would have immediate and dire consequences for countries already under military pressure from Beijing, namely Taiwan, the Philippines, Japan, and India.

      One promising defense against Chinese drones is laser-based weapons; for example, the HELIOS system deployed on a U.S. naval destroyer in 2022 and the DragonFire system tested by the United Kingdom in January.

      The DragonFire laser can destroy targets with pinpoint accuracy in its line of sight with shots that would cut through the drone’s mechanics or explode its warheads. Each shot costs less than £10 ($12.61) to fire for 10 seconds, suggesting they could be used to cheaply slice into an enemy system with repeated passes. Compare that to the cost of a missile interceptor at a million dollars or more, which can be a waste of money against some of the cheapest Iranian military drones, for example, that cost at most $2,000 each. The British system is planned for deployment on the country’s naval ships by 2027, with the British army also considering a deployment. Scientists in China are also developing laser weapons, including for use from space.

      Laser weapons could eventually negate the power of intercontinental ballistic missiles and hypersonic missiles and force surface and air combatants underwater, where lasers are ineffective.

      Subsurface combatants could become relatively useless against land targets except perhaps those closest to the coast. In the case of Ukraine, for example, the widespread adoption of laser weapons could create a stalemate for years to come.

      The United States is now the world’s strongest superpower, considered economically and militarily. Many have come before, and none lasted forever. One mistake that results in the loss of the technological lead to China or Russia, for example, could be the end of the United States as we know it. Now is our chance to avoid that disaster.

      *  *  *

      Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

      Tyler Durden
      Wed, 12/25/2024 – 23:00

    • 41% Of College-Aged Voters Consider UnitedHealthcare CEO Killing "Acceptable"; New Poll Finds
      41% Of College-Aged Voters Consider UnitedHealthcare CEO Killing “Acceptable”; New Poll Finds

      Authored by Adam Sabes via Campus Reform,

      41% of college-aged voters consider the killing of UnitedHealthcare CEO Brian Thomas as “acceptable,” according to a new poll…

      Emerson Polling conducted the survey of 1,000 registered voters between Dec. 11-13, according to Axios.

      A whopping 41% of voters aged 18 to 29 years old either consider the killing of Thomas as “acceptable” or “somewhat acceptable.”

      Support for the killing drops significantly in older generations, as 23% of voters aged 30 to 39 support the killing and 13% of those aged 40 to 49.

      Just 8% of voters aged 50 to 59 support the killing.

      One professor at the University of Pennsylvania apologized after praising Luigi Mangione, who allegedly killed Thompson.

      In several posts, University of Pennsylvania Professor Julia Alekseyeva called Mangione “[t]he icon we all need and deserve” and took pride in the fact that he graduated from the same institution.

      In her apology, Alekseyeva wrote:

      “Late last night I posted a TikTok, as well as several stories on my Instagram. These were completely insensitive and inappropriate, and I retract them wholly. I do not condone violence and I am genuinely regretful of any harm the posts have caused.”

      Overall, 68% of voters surveyed consider the actions of Thompson’s killer unacceptable.

      Tyler Durden
      Wed, 12/25/2024 – 22:00

    • Could Trump's 2024 Victory Counter A 2026 'Midterm Curse'?
      Could Trump’s 2024 Victory Counter A 2026 ‘Midterm Curse’?

      Authored by Susan Crabtree via RealClearPolitics,

      Donald Trump’s popular vote victory has eroded some of the demographic gains Democrats have been working on for years, giving Republicans hope they can break the historic trend of the president’s party losing seats in the first midterm election after winning the White House.

      Two years from now some 14 Democratic House members will be defending districts Trump won, compared to just three Republicans in districts carried by Vice President Kamala Harris.

      It’s a significantly better outlook than the GOP faced after Trump’s 2016 victory, which he eked out on the basis of an Electoral College win in the key swing states. That year, two dozen Republicans were elected in districts Hillary Clinton won, roughly the same number of Democrat-occupied seats that Trump carried. In 2018, Democrats gained seats in the Clinton districts and even carved into some of the districts that Trump won, wresting back control of the majority until 2022, when Republicans re-took control.

      One reason House majorities have grown slimmer in recent years is the increasingly sophisticated redistricting fights waged by both parties. Over the last decade, Democrats and Republicans have engaged in a protracted battle over the redrawing of congressional districts involving millions of dollars in litigation, thousands of hours of closed-door negotiations, and multiple Supreme Court showdowns.  

      Partly because of their efforts, Democrats limited the House majority to five seats this year – 220 to Democrats’ 215. But because of Trump’s popular vote victory, winning back the majority in 2026 will require Democrats to carve a path through Trump territory.

      “In places where the Democrats were really banking on this whole ‘demographics as destiny’ thing to carry them through  the decade, President Trump just detonated that,” said Adam Kincaid, president and executive director of the National Republican Redistricting Trust.

      Overall, Trump carried nearly the same number of congressional districts across the nation – 231 – that he did in 2016 before the most recent redrawing of the congressional maps took place. In 2016, Kincaid says Trump won many of those districts by a plurality because third-party candidate Evan McMullen, a former CIA officer who ran as an independent, siphoned off votes in nearly two dozen districts. Now, Trump’s two-party vote share is 50.8% – meaning he should have carried only 221 congressional districts if the results were directly proportional to the percentage of the vote he won.

      Kincaid argues the surplus of 10 House districts is a sign of his group’s redistricting success.

      Democrats counter that Republicans’ razor-thin majority demonstrates their own success in taking their fights for more advantageous maps to the courts, especially across the South, where Republicans control many state legislatures and have spent decades drawing the maps in their favor.

      In 2016, voters favored House Republicans over Democrats by only a 1.1% advantage, 49.1% to 48%, but Republicans held a far larger House majority, 241 to 194. This year, House Republicans won 50.5% of the vote to Democrats’ 47.9% but will hold only a five-seat majority next year.

      “The popular vote and seat-count margin in Congress this past election and in 2022 is evidence that the [Democratic] redistricting strategy is working,” Marina Jenkins, executive director of the National Democratic Redistricting Committee, told RealClearPolitics. “What you’re seeing is a map that actually reflects where the voters are, and that’s a far cry from where we were a decade ago.”

      Michael Li, a redistricting expert at the liberal-leaning Brennan Center has long argued that GOP-gerrymandered maps have for years given Republicans such an unfair edge that Democrats typically need to win the national aggregate popular vote in congressional races by 2-3% to control the House.

      He and others often point to 2012, when House Democrats won 1.4 million more votes than Republicans, but the GOP held a 33-seat majority.

      That gap has narrowed greatly in the ensuing years.

      “There’s a lot of really good work that happened by candidates in competitive districts, and there are some places where those competitive districts went to Republicans, but that’s the whole point,” Jenkins said. “These districts are now fair and responsive. If it remains that way through the decade, that’s a good thing.”

      With a more even playing field, the Democrats’ chances of taking advantage of the famed “midterm curse” in 2026 will depend in large part on whether Trump’s popularity recedes over the next two years, a variable impossible to predict. While the national politics play out, Democrats and Republicans will continue focusing on what they can control – continuing their redistricting court battles as far as they can take them.

      This cycle, NDRC efforts are likely to result in Democrats gaining two seats in Alabama and Louisiana as a result of lawsuits forcing the state to abide by the Voting Rights Act, to draw maps reflecting the percentage of black voters. Federal judges ordered lawmakers in those states to give African Americans more opportunities to elect House candidates representing their views.

      Meanwhile, the legal battle over the congressional map in Georgia didn’t change the partisan breakdown of the state’s House delegation. In North Carolina, the Republican-controlled state legislature crafted congressional district lines that gave their party a huge advantage, flipping three seats previously held by Democrats. In New York, the Democratic majority in the state legislature, ridiculed for the comically extreme gerrymandered original congressional map, adjusted to a more modest position.

      Here are some of the most recent redistricting disputes, outcomes, and pending developments.

      Louisiana

      This year, the Supreme Court is expected to weigh in on the lower court ruling forcing the Republican-controlled state legislature to approve a second black-majority district.

      After the November election, the state now has two black members of its six-member delegation – Rep. Cleo Fields representing the newly drawn 6th District, and Rep. Troy Carter, who easily won reelection with 60% of the vote.

      New York

      Even though the predicted Republican “red wave” never materialized in 2022, Republicans managed to flip four House seats in New York that year, which helped them secure the majority. But a ruling by the state’s highest court threatened to jeopardize those gains by making it easier for Democrats to net as many as six Republican-held seats.

      Democratic state lawmakers, however, decided not to overreach and to make only modest adjustments to the district lines. The New York legislature’s final map made modest changes, reducing the number of Republicans in freshman GOP Rep. Brandon William’s district while solidifying Democratic Rep. Tom Suozzi’s Long Island seat, which the party flipped in a February special election to succeed Rep. George Santos, who was expelled from the chamber.

      Both parties have said they will operate with the new map, a decision that cements New York as a top battleground for House control for years to come.

      North Carolina

      Republicans hold a supermajority in North Carolina’s state legislature and used that power to redraw districts lines in their favor. The state’s congressional map was redrawn three times before the 2022 midterm elections, resulting in a 7-7 partisan split of the House delegation.

      Republicans who had gained more sway over the redistricting process in the 2022 midterm elections, including flipping the state supreme court, weren’t satisfied and redrew the map once again before 2024.

      In the end, Republicans flipped three House seats to Republicans after the Democratic incumbents decided against running for reelection in the GOP-skewed new districts.

      Democratic Rep. Roy Cooper lacks veto power over redistricting legislation, so Democratic Party lawyers filed lawsuits on behalf of black and Hispanic voters alleging the new map “intentionally discriminates” against minority voters.

      The cases are pending before a three-judge panel.

      Alabama

      The U.S. Supreme Court has already weighed in on the latest Alabama-approved map, which created a second congressional district with a substantial black population. Before the court action, the state, which is 27% African American, had only one black-majority district out of seven.

      In the high court’s 5-4 decision upholding the map, conservative justices John Roberts and Brett Kavanaugh agreed with three liberal justices to uphold the lower-court ruling enforcing a key provision of the Voting Rights Act – making it illegal to draw maps aimed at diluting the influence of black voters.

      The ruling, which could impact the similar pending case in Louisiana, resulted in the election of two black House members from Alabama serving together for the first time in history. Shomari Figures will represent the newly drawn 2nd Congressional District, which includes Mobile County and much of the so-called rural “Black Belt” (named for its rich soil, not its people). Figures, a Mobile native who worked in the Biden administration, won by nine percentage points last month. He will join longtime incumbent Rep. Terri Sewell of the state’s sprawling 7th Congressional District centered in her hometown of Selma. She willingly ceded some of the Black Belt to help make the delegation more diverse – and more Democratic.

      The Supreme Court’s ruling blocked the state from implementing its map but was not a final resolution of the case. State officials last fall said they would operate under the high court’s ruling but planned to continue litigating the case. The case is set to go to trial in February.

      Georgia

      Georgia Republicans fought Democratic efforts to add an additional House seat they would likely control. The GOP-drawn map complied with an order issued by U.S. District Judge Steve Jones to establish an additional black majority district.

      The map accommodated that requirement but preserved the Republicans’ 9-5 advantage in the state’s House delegation by shifting the Atlanta-area district held by Rep. Lucy McBath, a black Democrat, farther into Republican territory.

      Jones late in 2023 ruled that the newly drawn map, which preserved the GOP’s 9-5 advantage, “fully complied” with his ruling.

      The judge was abiding by Section 2 of the Voting Rights Act, which protects minority voters but doesn’t prevent Republicans from altering Democratic-held districts with white majorities or where no ethnic group is in the majority. Such was the case with McBath’s district, enabling the GOP-controlled legislature to dilute the district with more Republican voters. Despite the changes, McBath won the redrawn 6th District with 75% of the vote.

      That’s not the end of the litigation. A separate federal case in Georgia argues the new map is unconstitutional. That case faces a stay pending an appeals court decision in the Voting Rights Act cases, which a three-judge panel is set to hear in late January.

      Florida

      In September 2023, a state judge ruled against a redrawn district in Northern Florida that Gov. Ron DeSantis had defended.

      The case differs from Alabama’s Voting Rights Act lawsuit decided by the Supreme Court in that it is based on the Fair District provisions in the state constitution. The Republican-drawn map dismantled a seat held by Rep. Al Lawson, a black Democrat, that spanned several black communities across a northern swath of Florida.

      Late last year, however, a state appeals court upheld the map DeSantis argued in favor of, determining that the plaintiffs “failed to present any evidence” that the prior version of the district contained a singular cohesive community that would have a right to protection under Florida law.

      The state supreme court is expected to issue an opinion soon.

      Susan Crabtree is RealClearPolitics’ national political correspondent.

      Tyler Durden
      Wed, 12/25/2024 – 21:00

    • Texas Attorney General Ken Paxton Sues NCAA Over Allegedly Misleading Transgender Policy
      Texas Attorney General Ken Paxton Sues NCAA Over Allegedly Misleading Transgender Policy

      Authored by Matt McGregor via The Epoch Times (emphasis ours),

      Texas Attorney General Ken Paxton filed a lawsuit against the National Collegiate Athletics Association (NCAA) on Dec. 22 for allegedly misleading sportgoers into believing they were watching a competition between players of one gender.

      Texas Attorney General Ken Paxton speaks during the annual Conservative Political Action Conference (CPAC) meeting in National Harbor, Md., on Feb. 23, 2024. Mandel Ngan/AFP via Getty Images

      “The NCAA is intentionally and knowingly jeopardizing the safety and wellbeing of women by deceptively changing women’s competitions into co-ed competitions,” Paxton said in a statement on Sunday. “When people watch a women’s volleyball game, for example, they expect to see women playing against other women—not biological males pretending to be something they are not. Radical ‘gender theory’ has no place in college sports.”

      Paxton argued in the lawsuit that the NCAA’s practice of allowing biological men who identify as women to play in women’s sports violates the Texas Deceptive Trade Practices Act, which protects consumers from scams.

      In response to The Epoch Times’ request for comment, an NCAA spokesperson said though the association doesn’t comment on pending litigation, it will “continue to promote Title IX, make unprecedented investments in women’s sports and ensure fair competition in all NCAA championships.”

      “Most consumers know that a ‘woman’ means an adult human female,” Paxton said, a definition that has been commonly understood “throughout human history,” he noted.

      By allowing men to compete in women’s college sports, the NCAA is robbing women of their earned positions and lying to consumers about the competitive nature of the sporting event, he said.

      “When female athletes are forced to compete against men in women’s sports, they are deprived of titles, records, medals, scholarships, and opportunities to win; opportunities to participate in a fair and safe environment; and the ancillary benefits that sports participation provides,” he said in the lawsuit. “Consumers do not purchase goods and services associated with women’s sporting events to watch men steal medals and records from female programs.”

      In March, former college swimmer Riley Gaines and other female college athletes filed a lawsuit against the NCAA for allowing men identifying as women to compete in women’s sports.

      In October, 26 college regents in Georgia called on the NCAA to ban men identifying as transgender athletes from women’s college sports.

      In its “Transgender Student-Athlete Participation Policy,” updated in May 2024, the NCAA said it aligned with the student-athlete Olympic Movement, which allows for “transgender student-athlete participation for each sport to be determined by the policy for the national governing body of that sport.”

      If there’s no national governing body for the sport, NCAA policy guidelines default to the International Olympic Committee’s policy criteria and the 2010 NCAA policy, in addition to a requirement that such athletes “meet the sport standard for documented testosterone levels” before competing.

      On Dec. 20, the Department of Education withdrew its 2023 proposed rule that would have prohibited schools from banning male athletes who identify as women from participating in women’s sports.

      Citing the complexity of the public comments and legal battles, the department said it chose “not to regulate on this issue at this time.”

      Aldgra Fredly and Caden Pearson contributed to this report.

      Tyler Durden
      Wed, 12/25/2024 – 20:00

    • Merry Christmas… Here's The Average Credit Card Debt In Every US State
      Merry Christmas… Here’s The Average Credit Card Debt In Every US State

      This map, via Visual Capitalist’s Pallavi Rao, visualizes the average credit card debt held by households in each U.S. state and ranks the states where residents pay off the debt the fastest and slowest.

      Data is sourced from Bankrate (2024) who also used average monthly household income to calculate how long it takes to pay off balances.

      ℹ️ Assumptions made for this analysis: 5% of monthly household income is used for card payments. Also, no new debt is accrued in this time period.

      How Long it Takes to Pay off Credit Card Balances in Each State

      Households in Alaska and Washington D.C. are carrying more than $7,000 in credit card debt, the highest across the country. However, with average annual household incomes of $109,000 and $149,000, residents in both states can pay off their debt in about 14–20 months.

      In fact, glancing through the numbers below reveals a pattern.

      *Assuming no new debt is accrued. **Federal district.

      Richer state households—Connecticut, California, Washington—have higher costs of living and are carrying higher credit card balances. But they also manage to pay them off quickly with their larger incomes.

      On the other hand, households in poorer states have below-average debt but it take closer to two years for them to pay it off.

      This highlights the unequal debt burden across America. While the people living on the coasts have higher costs, they’re compensated by their incomes. However the South’s lower costs are not as evenly compensated.

      And of course, compound interest is not a game played in favor of the borrower. Carrying the debt for longer periods of time accrues additional interest. Bankrate’s analysis points out that when making only minimum payments, it would take more than 17 years to pay it off the national average debt: $6,140.

      In case that seems like a ludicrous amount of time, here’s a good reminder that most credit card interest compounds daily and not monthly.

      Cross reference this map with Credit Card Delinquency Rates by State to see the effects of debt burden.

      Tyler Durden
      Wed, 12/25/2024 – 19:00

    • Trump Announces Anti-Drug Ad Blitz, Vows To Designate Mexican Cartels As Terrorists
      Trump Announces Anti-Drug Ad Blitz, Vows To Designate Mexican Cartels As Terrorists

      Authored by Jack Phillips via The Epoch Times (emphasis ours),

      President-elect Donald Trump said Sunday he would aim to designate Mexican drug cartels as terrorist organizations and will launch an anti-drug advertising campaign inside the United States.

      “I will immediately designate the cartels as foreign terrorist organizations,” Trump said in Arizona at a Turning Point conference, reiterating a campaign promise to make the declaration.

      President-elect Donald Trump looks on during Turning Point USA’s AmericaFest at the Phoenix Convention Center in Phoenix, Ariz., on Dec. 22, 2024. Rebecca Noble/Getty Images

      While in office in 2019, Trump had planned to make the designation and ultimately did not make the move after a request from then-Mexican President Andres Manuel Lopez Obrador, who said he wanted cooperation with the U.S. government on dealing with drug cartels.

      Trump’s election platform has stated when he returns to the White House, he will direct the Department of Defense to use “special forces, cyber warfare, and other covert and overt actions to inflict maximum damage on cartel leadership, infrastructure, and operations.”

      Trump on Sunday also previewed a new advertising initiative designed to provide information about the effects of drug use.

      “We’re going to advertise how bad drugs are for you,” Trump said in Arizona at a Turning Point conference, referring to the ad campaign. “They ruin your look, they ruin your face, they ruin your skin, they ruin your teeth.”

      While he did not provide more details about the campaign, it appears to be the first time Trump has made reference to the plan.

      In the 1970s and 1980s, anti-drug ad blitzes were launched across the United States, culminating in former first lady Nancy Reagan’s “just say no” campaign that was designed to prevent younger Americans from doing drugs. Public schools also featured the Drug Abuse Resistance Education, also known as D.A.R.E, that sought to provide information on illegal drugs and controlled substances, as well as prevent gang membership and violent behavior.

      Over the past several years, hundreds of thousands of Americans have died of overdoses of the powerful synthetic opioid fentanyl, which is easy to do due to its potency—just 2 milligrams can be fatal. The drug, which is 50 to 100 times more potent than morphine, is often trafficked across the U.S.–Mexico border by drug cartels based in Mexico.

      Trump’s 2024 campaign has heavily leaned into messaging around stopping the fentanyl epidemic as well as illegal immigration into the United States. Since winning the election last month, the president-elect has said he will also start operations for mass deportations and would declare a nationwide emergency over the matter.

      The incoming Trump administration’s border czar, Tom Homan, a former acting director of U.S. Immigration and Customs Enforcement, and other Trump officials have said that they will prioritize targeting illegal immigrants who have committed crimes or are deemed a threat to U.S. national security for deportation.

      They have also pledged to deport anyone residing in the country illegally, although Trump has indicated he would consider allowing illegal immigrants who have been in the United States since childhood to remain under certain conditions.

      The U.S. Department of Homeland Security estimates that 11 million illegal immigrants were living in the United States as of 2022, the latest statistics that are available. While campaigning in the 2024 contest, Trump talked about creating the “largest deportation effort in the history of our country” and called for using the National Guard and domestic police forces in the effort.

      Reuters contributed to this report.

      Tyler Durden
      Wed, 12/25/2024 – 18:00

    • Millions Of Companies Must Register w/ Massive U.S. Database By Jan. 1 Due To Last-Minute Court Ruling
      Millions Of Companies Must Register w/ Massive U.S. Database By Jan. 1 Due To Last-Minute Court Ruling

      Authored by Ken Silva via Headline USA,

      Millions of U.S. companies might be busy over the holidays forking over their data to the Treasury Department, thanks to a last-minute ruling from the U.S. Court of Appeals for the Fifth Circuit.

      The Treasury Department / PHOTO: AP

      The Fifth Circuit on Monday overturned a lower court’s injunction against a constitutionally dubious law that requires the country’s estimated 32.6 million active companies to submit their private ownership information to a central database ran by the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN.

      The ruling means that all companies formed prior to 2024 must file a report with Treasury by next Wednesday, Jan. 1. Companies formed this year are required to file within 90 days of their formation.

      “Enforcement of the Corporate Transparency Act (CTA) has been reinstated along with its impending January 1, 2025 filing deadline,” the financial firm Brown Advisory said in a Tuesday press release. “These reports provide basic legal information about the company itself, the entity’s owners, and the individuals that create or register the entity.”

      Forbes predicated there’s still a long legal battle ahead.

      “Additionally, a potential new administration may take steps to limit the CTA administratively, adding another layer of uncertainty for businesses,” Forbes reported.

      The cost of compliance with the law is estimated to be some $22.7 billion the first year and $5.6 billion per year thereafter.

      The U.S. government and liberal activists have argued for decades that a central beneficial ownership registry is required to curtail money laundering. Critics have pointed out how the central registry would pose privacy risks and impose another layer of regulation on private businesses. Moreover, criminals wouldn’t voluntarily submit their personal information for such a registry.

      There are six plaintiffs suing over the law, including two that don’t do business outside their respective states. Another plaintiff was the Libertarian Party of Mississippi, which is a non-profit political entity, but would have still had to register under the Corporate Transparency Act.

      Roughly 5 million new companies are formed in the U.S. each year.

      Tyler Durden
      Wed, 12/25/2024 – 16:00

    • "Sudden Spike" In US Marijuana Substitution For Alcohol Ahead Of Trump-Era
      “Sudden Spike” In US Marijuana Substitution For Alcohol Ahead Of Trump-Era

      The number of Americans turning to marijuana as a substitute for alcohol, cigarettes, and painkillers has surged in recent years, according to a new survey by Bloomberg Intelligence. 

      Amir Islam of Bloomberg Intelligence highlighted a “sudden spike” in the substitution of marijuana for alcohol, with the latest survey showing 44% of respondents making the switch, up from 33% in 2022.

      “This is in contrast to less marijuana substitution for cigarettes (30% vs. 39%) and pain killers (30% vs. 35%). The results may prompt additional interest in cannabis from alcoholic beverage producers,” Islam noted. 

      He further noted that major consumer companies, including Altria, Constellation Brands, British American Tobacco, and Imperial Brands, are expanding into the cannabis industry through joint ventures or acquiring stakes in Canadian cannabis producers, positioning for eventual US expansion when federal laws ease. 

      Looking ahead, President-elect Donald Trump may follow through on the Biden administration’s proposed removal of marijuana from the list of Schedule I controlled substances, reclassifying it as a Schedule III drug, a category that acknowledges the drug has lower misuse potential and is often used for medical benefits. 

      David Culver, the senior vice president of public affairs of the US Cannabis Council lobbying group, told NPR News last month that he’s very optimistic that Trump will approach cannabis in a similar way to Biden. 

      “We didn’t see a lot of activity from President Trump, if any at all, on cannabis reform” in his first term, Culver said, adding, “But I think this time is going to be different.”

      In markets, some of the top marijuana ETFs, including AdvisorShares Pure US Cannabis ETF (MSOS), Amplify Alternative Harvest ETF (MJ), AdvisorShares Pure Cannabis ETF (YOLO), and Amplify US Alternative Harvest ETF (MJUS), have been battered since the marijuana stock bubble unraveled in early 2021. None of these ETFs have yet to bottom. 

      In early September, Trump noted on Truth Social:

      As I have previously stated, I believe it is time to end needless arrests and incarcerations of adults for small amounts of marijuana for personal use. We must also implement smart regulations, while providing access for adults, to safe, tested product. As a Floridian, I will be voting YES on Amendment 3 this November. As President, we will continue to focus on research to unlock the medical uses of marijuana to a Schedule 3 drug, and work with Congress to pass common sense laws, including safe banking for state authorized companies, and supporting states rights to pass marijuana laws, like in Florida, that work so well for their citizens.

      Keep in mind that with individuals like Robert F. Kennedy Jr., who will have prominent roles in the incoming administration and have been pro-legalization advocates, a significant shift in national policy may be just ahead in Trump’s second term. 

      Tyler Durden
      Wed, 12/25/2024 – 15:00

    • 'We Created A Pretend World': Mossad Agents Boast About Mass Pager Attack In Lebanon
      ‘We Created A Pretend World’: Mossad Agents Boast About Mass Pager Attack In Lebanon

      Via The Cradle

      Former Mossad agents revealed new details of Israel’s pager and walkie-talkie terror attacks carried out against members of Hezbollah in interviews with the CBS News program 60 Minutes this week..

      According to a former Israeli intelligence agent known as Michael, Hezbollah bought more than 16,000 of the exploding devices. When Mossad chief David Barnea gave the green light for the attack in September, the pagers and walkie-talkies were detonated on subsequent days.

      Some 42 people were killed, including two children, while about 4,000 were injured. Many lost their hands and eyes or had their stomachs ripped open by the explosions. Michael said the walkie-talkie batteries, which included explosive devices, were made in Israel at a Mossad facility.

      Wounded pager attack victim, via CNN

      Mossad then set up shell companies to infiltrate the supply chain and sell the devices to Hezbollah. The walkie-talkies were designed to go into armored tactical vests used in battle.

      “We create a pretend world. We are a global production company: We write the screenplay, we’re the directors, we’re the producers, we’re the main actors,” Michael said. “And the world is our stage.”

      Another former Mossad agent, Gabriel, told 60 Minutes that the spy agency began developing booby-trapped pagers in 2022. They wanted a device that Hezbollah members would carry with them at all times, not just in battle.

      Gabriel said Mossad had learned that the Lebanese resistance movement was buying pagers from a company in Taiwan called Gold Apollo. Mossad set up shell companies, including one in Hungary, to produce the explosive pagers and market them under a licensing agreement with Gold Apollo.

      The pagers had no intelligence capabilities and could not be used to track Hezbollah members or gather information about them, Gabriel said. They could only be detonated to kill or maim anyone holding them.

      Hezbollah members, both in the military and civilian wings, used pagers instead of cell phones to communicate to avoid being surveilled by Israel. “This is a very stupid device by nature. This is the reason they’re using it. There’s almost no way how to tap it,” Gabriel said. 

      Mossad paid for fake ads on YouTube, promoting them as dustproof, waterproof, and with a long battery life. They also posted fake online testimonials for the pagers.

      “It became the best product in the beeper area in the world,” Gabriel said. “When they are buying from us, they have zero clue that they are buying from the Mossad. We make like the ‘Truman Show,’ everything is controlled by us behind the scenes,” Gabriel claimed.  

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

      A Mossad shell company also hired the Gold Apollo saleswoman Hezbollah was already working with. She offered Hezbollah the first batch of pagers as an upgrade, free of charge. By the time of the terror attack in September 2024, around 5,000 Hezbollah members were carrying the pagers. 

      At 3:30 pm on September 17, Mossad detonated the pagers. The walkie-talkies were detonated the following day. “Mayhem ensued as explosions went off. Hospitals filled up with the wounded. Limbs and fingers were torn off. People were left bloodied, blinded, and even with holes in their stomachs,” CBS wrote.

      Following the pager and walkie-talkie terror attacks, the Israeli Air Force unleashed a major bombing campaign in Lebanon. The bombing killed over 500 people on just the first day.

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

      On September 27, Israel dropped over 80 2,000-pound bombs (around 907 kilograms) on Hezbollah leader Hassan Nasrallah’s bunker, assassinating him.

      Over the next two months, Israel and Hezbollah fought a major war that ended in a 60-day ceasefire that took effect on November 27.

      Tyler Durden
      Wed, 12/25/2024 – 14:15

    • Owners Of Russian Ship Ursa Major Declare Sinking An "Act Of Terrorism"
      Owners Of Russian Ship Ursa Major Declare Sinking An “Act Of Terrorism”

      The Russian cargo ship that sank on Tuesday in the Mediterranean Sea following a mysterious explosion in its engine room was described as an “act of terrorism,” according to the vessel’s owner.

      Reuters cites the Russian news agency RIA, which reported on Christmas Day that Oboronlogistika, the ship’s owner and a subsidiary of the Russian Defense Ministry’s military construction operations, stated that the cargo ship, named Ursa Major, had been targeted in “a terrorist act.”

      On Monday, Ukraine’s main intelligence directorate reported the cargo vessel was “sent by Russia to retrieve its weapons and equipment from Syria, broke down off the coast of Portugal due to a malfunction in the fuel pipe of its main engine.” 

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

      The ship tracking website Marine Traffic shows Ursa Major’s last location was drifting on the high seas near Portugal before sinking on Tuesday. 

      Neither RIA nor Russian authorities have provided additional color about the claimed terrorist attack on the cargo vessel or who they suspect is responsible.

      We asked earlier this week: “The big question for the Ursa Major is whether any US Navy submarines with special forces units lurk beneath.” 

      If the terrorist attack claim is confirmed, the fear is that the battlefield in Eastern Europe is broadening outside the region.

      Nearly three years into the Russia-Ukraine war and marking the second Christmas, Free Press’ Jay Solomon recently asked: “Is World War III Already Here?”

      Tyler Durden
      Wed, 12/25/2024 – 13:30

    • These Are The 9 Most MAGA-Friendly Christmas Movies (And Why)
      These Are The 9 Most MAGA-Friendly Christmas Movies (And Why)

      Authored by Ben Sellers via Headline USA,

      Christmas is, above all else, a time for putting aside the petty grievances and differences that separate us from one another and finding meaning in something greater than ourselves.

      Some of the best works of literature and cinema about the season examine this spirit of selflessness, which can seem antithetical to “America First” values when cast in a particular light. But at its core, the spirit of Christmas is quintessentially the same as that which brought millions of people to the polls in November to re-elect Donald Trump. 

      Attempting to catalog all of the thousands of Christmas movies, of course, would be an impossible feat, but below is a list of nine (plus honorable mentions) that resonate particularly well with the MAGA message.

      While the list leaves a lot open to interpretation as to what constitutes a “Christmas” movie or a “MAGA” movie, the one prerequisite was that the themes of both had to be prevalent enough to be immediately recognizable.

      Thus, Rambo: First Blood may have included a scene with Christmas decorations in it, but it did not make the cut—even though it might be considered a MAGA classic—because the movie itself does not directly involve the holiday. And although the BB gun subplot in A Christmas Story may have promoted Second Amendment rights for some, that was not an explicit message so much as it was a sign of the times.

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

      We will kick things off with the low-hanging fruit—the only Christmas classic (to date) known to include a cameo from future two-time President Donald Trump himself.

      9. HOME ALONE 2: LOST IN NEW YORK

      Why it counts: Trump

      The sequel to one of the most beloved modern Christmas classics is now one of the most beloved MAGA classics due to Trump’s cameo appearance. Much of the film revolves around the iconic Plaza Hotel, which Trump owned at the time but went on to sell in 1995. (Maybe he found out that the desk clerk also moonlighted as a transvestite.)

      Another memorable scene takes place at the Wollman Rink, a public ice-skating ring with strong ties to the former Manhattan real-estate magnate. And as an added bonus, the movie features an early appearance from MAGA-friendly comedian Rob Schneider as the bellhop.

      Unfortunately, some of its other actors, including Macaulay Culkin and Daniel Stern, have attempted in recent years to use the movie’s renewed relevance as a platform for petty political attacks, and any royalties from it benefit them as well.

      Honorable mention: While stylistically very different and not specifically centered around Trump himself, MAGA fans might also consider watching A Lion in Winter, the star-studded 1968 Oscar-winner about an aging ruler who—like Trump—has three sons and must decide who is best fit to carry on his dynasty.

      8. ROCKY IV

      Why it counts: Peace through strength

      The 1985 box-office smash came at the very peak of the Ronald Reagan era, just two years before the famous Berlin speech that saw Reagan urging Mikhail Gorbachev to “tear down this wall” and four years before the official fall of the Soviet Union. It was the last of the Rocky films to be directed by Trump-backer Sylvester Stallone (who fittingly described the Republican leader as a “Dickensian” character) until 2006’s Rocky Balboa.

      While the Cold War-jingoism resonated with Republicans during the Reagan era, Stallone’s climactic victory speech also underscores the ideas of mutual respect and healthy dialogue as a means to peace.

      “In here, there were two guys killing each other, but I guess that’s better than 20 million,” Rocky Balboa says after his defeat of Ivan Drago. “I guess what I’m trying to say, is that if I can change, and you can change, everybody can change!”

      He then wishes his son a Merry Christmas, as the fight took place on Christmas Day. Although the holiday does not figure prominently into the plot, it is one of several action movies whose inclusion of Christmas elements has sparked debate.

      However, because the Soviet Union was typically hostile toward religion and did not formally recognize Christmas as a holiday, Balboa’s sacrifice in forgoing the holiday season for the greater good of his country may have been an important reminder that many of those in uniform may not have had the luxury of returning home for the holidays.

      Honorable mention: The aforementioned Rambo: First Blood has holiday decorations, but the ever-controversial Die Hard, set during the Christmas season, is the best known of all the Christmas “action” movies that have audiences divided, featuring rogue cop John McClane (portrayed by Bruce Willis—another rare Hollywood Republican) taking on a network of terrorists in New York City.

      7. THE REF

      Why it counts: Political incorrectness

      Ref star Denis Leary unfortunately made the decision in a 2016 gag appearance with late-night host James Corden to attack Trump by rewriting the words to his 1990s gag song “A**hole” for that year’s campaign against Hillary Clinton. It was a hamfisted attempt at comedy then, and it has aged particularly poorly given Trump’s resonance with the American voting public—many of them the same blue-collar types whom Leary tried to appeal to with his updated Archie Bunker schtick.

      Leary’s 1994 holiday hit The Ref also aged poorly for its other star, Kevin Spacey, but those able to suspend their disbelief can appreciate the fantastic comedic timing that Spacey and co-star Judy Davis have as a bickering couple on the verge of divorce. There may be one or two obligatory Republican “digs” slipped into the script, but those only accentuate the absurdity of an affluent and insufferable New England family that loves to virtue-signal but finds itself utterly out of touch with anything beyond their own selfish needs and desires—until the outside world forces its way into their lives.

      Leary, as a cat-burglar caught in the middle of a hostage situation gone awry, is the perfect foil for the limousine liberals, presaging the “Tea Party” movement that would arrive 10 years later.

      Honorable mention: While the only reference to American politics in 2003’s Love Actually may be the scene with Billy Bob Thornton as a Bill Clinton/George W. Bush hybrid of an uncouth, self-serving American president, the movie’s other plots have become well known for their anachronisms—including toxic, anti-MeToo workplaces, trans/LGBT humor and fat shaming, plus a kid gatehopping past airport security and not getting shot. For those who don’t know the holiday classic by heart, consider pouring everyone a cup of spiked eggnog and turning it into a fun drinking game every time something happens that you could never get away with 20 years later.

      6. THE HUDSUCKER PROXY

      Why it counts: Anti-corporate subversiveness

      Like other selections on the list, the star of this early Coen Brothers movie, Tim Robbins, is an outspoken leftist in real life, which can make it difficult to identify with the character. Yet, it also serves as a reminder than many of the classically liberal values once embraced by the Left have now been embraced and appropriated by MAGA-style populism.

      It involves a corporation (with the great Paul Newman as a member of its board of directors) that selects Robbins’s character as its top executive in hopes of tanking the stock to permit a corporate buyout. But Robbins generates an idea that is both deceptively simple and wildly appealing, leading the  plot to backfire.

      The movie is set over Christmas, with its climax occurring on New Year’s Eve, and has some yuletide thematic elements at the end appearing to echo stories like A Christmas Carol and It’s a Wonderful Life.

      Honorable mention: Others have pointed out in the past that when the full set of facts is taken into consideration, the true hero of It’s a Wonderful Life is Henry Potter, a stockholder in the Bailey Building and Loan company who is forced to pay the price for its bad business decisions. Like Trump, Potter falls the victim to a socialist plot that uses propaganda and lawfare to slander him into submission. Although the movie ends with George Bailey having prevailed, there are hints that a world where Potter never existed would be far worse than one where Bailey never existed.

      5. EYES WIDE SHUT

      Why it counts: Globalist elites’ excesses/depravity

      Stanley Kubrick’s final movie, based on Austrian author Arthur Schnitzler’s 1926 novella “Dream Story,” changes the events from a Mardi Gras celebration to a Christmas one, adding more to the surreal quality of the cinematography.

      The 1999 Tom Cruise film has secured a unique place in pop culture, even inspiring a recent AI tribute by the Dor Brothers that featured world leaders attending a similar masked ball.

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      Kurbrick also drew much of the film’s aesthetic from accounts of a real-life 1972 black-tie ball hosted by Baroness Marie-Hélène de Rothschild that was heavy on Satanic symbolism.

      Theories about members of the globalist elite engaging in such bizarre behavior, often connected to Satanic undertones and sex-cults, have continued to snowball in recent years, ranging from the secret cover-up of Jeffrey Epstein’s client list to the rumors of the Clinton–Podesta Pizzagate conspiracy, to the accounts of cocaine-fueled orgies involving members of Congress and the annual Davos conference hosted by the World Economic Forum.

      Honorable mention: Rod Serling’s 1964 made-for-TV adaptation of A Christmas Carol, titled Carol for Another Christmas was a star-studded propaganda piece commissioned by the United Nations to persuade Americans that the UN did not have a communist agenda in the aftermath of the JFK assassination. It resurfaced in 2012 after Turner Classic Movies began re-airing it. But hindsight makes the propaganda all the more obvious and blatant, perhaps exposing just how left-wing globalist groups like the UN have used Hollywood to undermine American interests.

      4. BRAZIL

      Why it counts: Deep-state resistance

      Monty Python alum Terry Gilliam directed this 1985 dystopian tale (released just weeks after Rambo IV) about a cog in the system who, shortly before Christmas, discovers a serious mistake caused by a literal bug in the machinery. The discovery sends him into a Kafkaesque spiral of tension-escalating plot twists. While trying to break free from the system, he is himself detained and tortured, with the ending leaving it ambiguous as to whether freedom in this society is truly attainable.

      Honorable mention: The Nativity Story, a 2006 retelling of the birth of Jesus tells the familiar tale with an emphasis on the Magi (not to be confused with MAGA), the three wise men who arrived on Jan. 6—known to Christians as the celebration of the Epiphany. King Herrod of Judea sought help from the visiting Oriental trio in locating the Jewish messiah, whom he feared would supplant him as ruler. Although the king resorted to drastic measures—demanding the slaughter of innocent babies, much like the modern Left’s abortion agenda—the Magi refused to cooperate, making them the original J6 political dissidents.

      3. FRIDAY AFTER NEXT

      Why it counts: Blue-collar empowerment

      The 2002 third installment in the comedic series that coined the term “Bye Felicia” finds friends Craig (portrayed by red-pilled rapper Ice Cube) and Day-Day forced to get jobs as security guards after a thief dressed as Santa steals all their Christmas presents. The movie also features a turn from Terry Crews (another red-pilled actor, best known for his turn as President Camacho in the modern cult classic Idiocracy) as a newly-released inmate who picked up homosexual tendencies while incarcerated.

      Honorable mention: Jim Varney’s redneck hero Ernest P. Worrell returns to his most famous role in 1988’s Ernest Saves Christmas, in which the hero becomes Santa Claus after the original Santa leaves his magic bag in the back of Ernest’s cab in Orlando.

      2. SILENT NIGHT

      Why it counts: Vaccine skepticism

      Made during the peak of the COVID-19 hysteria, this 2021 movie, with an ensemble cast led by Keira Knightley, begins as the typical “home for the holidays” comedy set at a British country estate. However, it later takes a genre-bending turn that is as jarring and drastic as the arrival of the pandemic was in March 2020. It is one of the few on this list that may have spoilers, so viewers who don’t mind dampening the holiday spirit (definitely not one to watch with the kids) should watch it for themselves.

      Honorable mention: The Stephen Spielberg-produced Gremlins, written by future Harry Potter director Chris Columbus, remarkably is considered a kid-friendly movie—or, at least, it was when it first came out in 1984. However, it too blends heartwarming and nostalgic family comedy with significantly darker elements after a specimen of Chinese origin, the mogwai, makes its way to small-town America. A scientist (biology teacher Mr. Hanson) then ignores the rules for containing it, leading to a catastrophic epidemic that seem a lot like the gain-of-function research advocated by ex-COVID czar Anthony Fauci.

      1. A CHARLIE BROWN CHRISTMAS

      Why it counts: Winning the culture war

      With the exception of The Nativity Story, none of the films listed connect with the religious component of the Christmas holiday. That has much to do with its commercialization and sanitization by Hollywood and others to make it more inclusive and profitable.

      I, for one, take no issue with the idea of everyone sharing in a seasonal yuletide spirit regardless of belief (this year, Christmas happens to coincide with the start of the relatively minor Jewish holiday of Hannukah), but ultimately there is only one thing that “Christmas is all about,” and nobody articulates that as well as Linus in this 1965 animated classic, which has prevailed over all the efforts by the Left to memory-hole it.

      Honorable mention: Aliens envious of Earth’s culture, travel there to kidnap two children, along with Santa Claus, but later decide that it is unreconcilable with their own culture in 1964’s Santa Claus Conquers the Martians, made for an estimated budget of around $200,000. They attempt to sabotage Santa’s toymaking industry and to replace Santa with one of their own kind, but the plan fails, much as the Left’s so-called Great Replacement strategy via open borders cannot conquer the Western cultures they are seeking to supplant with their reverse-colonization scheme.

      Tyler Durden
      Wed, 12/25/2024 – 12:45

    • How The Daniel Penny Trial Divided The Nation
      How The Daniel Penny Trial Divided The Nation

      Authored by Michael Washburn via The Epoch Times (emphasis ours),

      The trial of Daniel Penny split many observers into two camps—one passionately for and the other fiercely against the defendant, who restrained Jordan Neely in a chokehold on a New York subway in May 2023 and Neely died.

      Illustration by The Epoch Times, Getty Images

      The first camp brands Penny, who was acquitted of the charges of second-degree manslaughter and criminally negligent homicide, a brave hero who was protecting others from Neely. They say Penny is a victim of overreach by Manhattan District Attorney Alvin Bragg.

      The second camp calls Penny a killer with no regard for the value of a poor, ill, homeless man’s life.

      Representative of the view showing disdain for Penny were public comments made by Rep. Alexandria Ocasio-Cortez (D-N.Y.), whose district includes part of Queens. Before the trial began, she called him a “murderer,” and after the verdict, she criticized him again, saying Penny “does not have remorse about taking another person’s life.”

      Defense lawyers, who unsuccessfully moved for a mistrial, complained to Judge Maxwell Wiley about the “circus-like” atmosphere fostered by loud, angry, sometimes menacing protesters on the street outside the courthouse.

      Protesters had made threats against their client and against jurors if they didn’t vote to convict, defense lawyer Thomas Kenniff told the judge.

      The trial began in late October and ended with Penny’s acquittal on Dec. 9. Despite the acquittal, the case raises questions about the challenge of holding a fair and impartial trial in an age of 24/7 social media saturation.

      David Dorfman, a professor of law at Pace University in New York City, said he believes the “toxic social media environment” and the politicization of the justice system made it difficult to have a fair trial, in a case that the government never should have brought in the first place.

      Divine Pryor, executive director of the Center for NuLeadership on Urban Solutions, said he doesn’t think the 24/7 coverage of the Penny case or the street protests exerted undue influence on the course of the trial or the outcome.

      “There are always non-evidentiary pressures that emerge during any high-profile trial that come from arenas outside the judicial process, and they are usually shaped and guided by the media,” he said. His organization, a New York-based nonprofit, advocates for criminal justice reform.

      Jordan Neely’s uncle, Christopher Neely (C), joins demonstrators before Daniel Penny arrives for jury deliberations, outside the Manhattan Criminal Courthouse in New York City on Dec. 9, 2024. Alex Kent/Getty Images

      “Unfortunately, I was not surprised by the verdict, and I did not expect a conviction on any of the charges, because he was immediately portrayed as a ‘war hero’ who was, once again, protecting the community,” Pryor said in an email to The Epoch Times.

      “He was able to make bail and obtain legal counsel, and he won the hearts of the public. The fact that he was a middle-class, white male—well, what’s understood needs no explanation,” he said.

      Pryor said he views the Penny case as similar in some ways to the Bernhard Goetz case in the ‘80s. Goetz shot and injured four young black men who he believed were trying to rob him on a subway in December 1984. In that case, public perceptions of crime, and the races of the people involved, may have shaped perceptions even before the case went to trial, Pryor suggested. The jury ultimately convicted Goetz of carrying an unlicensed firearm but acquitted him of attempted murder.

      As a defense lawyer, Kenniff saw it differently. He sees non-evidentiary pressures as a negative influence not just in this trial, but in a politicized justice system more generally.

      “There were certainly efforts to malign our client and poison the jury pool against him. I think Steven Raiser and I were successful in beating back against much of that, but I can’t say it didn’t impact things,” Kenniff said in an email to The Epoch Times.

      Intimidation of jurors from activists and protesters demanding a certain outcome presents a “real risk,” he said.

      “We saw attempts at that in this trial, where witnesses admitted they were afraid to testify favorably towards Mr. Penny out of fear of retribution. However, the jury refused to be swayed by any of that, and for that we’re grateful,” Kenniff stated.

      Harvey Kushner, chair of the criminal justice department at Long Island University, said the social media-driven pressures that moved Penny’s defense lawyers to argue for a mistrial may be all the more severe in years to come.

      “If you look at the Penny case, you can’t compare it to other times, because the media have changed so dramatically,” Kushner said.

      “This was all over the media, people were not only viewing it but interacting with it on Facebook, TikTok, and X. The way they process it is different today.”

      Thomas Kenniff, attorney representing Daniel Penny, prepares to speak to the media after Penny turned himself into the 5th Precinct in New York City on May 12, 2023. Michael M. Santiago/Getty Images

      A Fateful Ride

      In making its case to the jury, the defense evoked a situation that some or all of the twelve men and women could identify with, having rode the subway themselves and having found themselves in vulnerable situations where no police officers were on hand to respond in the event of an immediate physical threat.

      The incident that defense lawyers Steven Raiser and Thomas Kenniff and lead prosecutor, Assistant District Attorney Dafna Yoran, debated in a lower Manhattan courtroom began on May 1, 2023, when an uptown F train pulled into the Second Avenue station.

      Before the doors closed, Neely entered the train and immediately began acting in a manner that frightened and alarmed passengers, according to several who took the stand during the trial.

      Neely, who had a record of 42 arrests and an outstanding warrant for his arrest on an assault charge at the time, threw his jacket onto the ground and began shouting that he was hungry, homeless, and did not care whether he went back to prison on Rikers Island.

      That was when Penny, who had been listening to music on his earbuds, asked a stranger to hold the earbuds, and then got up, moved behind Neely, and applied a chokehold he had learned during his time in the U.S. Marines.

      Direct and cross-examination dwelled extensively on the amount of time that Penny restrained Neely and on the physical and physiological factors that caused Neely’s death a short time later.

      Nonetheless, witness after witness reiterated the sheer terror that Neely’s conduct caused them.

      Though called to the stand as government witnesses, these men and women of diverse professional, personal, and ethnic backgrounds gave a version of events that could only buttress the defense position that passengers on the F train had a reasonable and immediate fear for their physical safety.

      Lori Sitro, a research director at an agency in the city, described feeling particularly vulnerable because she had her small boy with her on the train. Under direct examination from a prosecutor, Sitro said that Neely’s threats were explicit, and frightening.

      “He was shouting in people’s faces, ‘I don’t have water, I don’t have food, I don’t have a home, I want to hurt people, I want to go to Rikers, I want to go to prison.’ And he was getting increasingly belligerent,” Sitro recalled.

      Police stand outside the Broadway-Lafayette subway station a week after Jordan Neely died, in New York City on May 10, 2023. Spencer Platt/Getty Images

      From the witness stand, Sitro performed a brief pantomime of lunges that she said Neely made toward passengers on the train. His conduct made her so fearful for the safety of her son, that she moved a stroller in front of him as an impromptu shield.

      Another passenger, a teenaged student named Yvette Rosario, recalled feeling such terror that she thought she would pass out, and burying her face in the chest of a friend who stood next to her.

      Dan Couvreur, the founder of a financial startup, said the incident far surpassed tense, unpleasant things he had witnessed on the subway before. “The anger, the aggressiveness, and that tone set it above these other situations that I’ve seen,” he said.

      Yet another witness, Alethea Gittings, who was on her way to a dentist’s appointment when the trouble started, attributed a highly explicit threat to Neely. “If I remember correctly, he said ‘I don’t give a damn, I’ll kill a [expletive], I’m ready to die,’” she testified.

      Gittings further testified not only to thanking Penny for his actions, but to agreeing, without any pressure on Penny’s part, to speak to police about what had happened.

      The defense made much of the accounts of these men and women, who suddenly found themselves in a tense and terrifying situation and in need of someone to come to their aid.

      Read the rest here…

      Tyler Durden
      Wed, 12/25/2024 – 12:00

    • The Musk-Led Manufacturing Revolution Nobody Is Talking About
      The Musk-Led Manufacturing Revolution Nobody Is Talking About

      When most analysts discuss Tesla, they focus on new vehicles or the electric vehicle company’s advancements in autonomy. Yet, according to Launch i/o CEO Jeff Lutz, one of the most significant—and under-discussed—developments at Tesla is happening not in its design studios or on the road, but in its factories. Lutz, a former executive at Google and Motorola, argues that Tesla’s true innovation isn’t just the electric vehicles or robots it’s building, but how those products are being made. The company’s first-principles approach to manufacturing is a radical departure from the industry norm, focusing not just on cheap labor or existing models, but on rethinking the entire production process.

      Tesla is creating factories that are the product—designing, testing, and perfecting every element just as they do with their cars. This focus on manufacturing efficiency, Lutz believes, will lead to a dramatic reduction in production costs, potentially bringing them closer to zero. And this shift in how products are built—rather than merely assembled—could set a new standard for the entire manufacturing world.

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      FARZAD MESBAHI: It’s no wonder that innovation has been lacking so much it’s because we’ve brute forced essentially manufacturing by leveraging globalization because we had that $2 an hour rate in China or Mexico wherever else like we’re not like well we have to just get really good at building stuff to be competitive I was like nah just let him do it like we’ll get get our margins just let them do it.

      JEFF LUTZ: The most under-discussed thing in the analyst world about Tesla is not the new vehicles coming, nor the growing discussions about autonomy, but rather Tesla’s next product: their new way of manufacturing. It’s a big deal, a huge step in how products are made today, and I don’t think many investment firms have the right research people actually looking into what this impact is and what it’s going to enable. It’s going to enable the variable cost to build products to shrink further and further, approaching zero.

      This is the step function needed for cost reduction to achieve further scale, and I don’t think enough people are talking about it. It’s going to be how the Cybertruck is made, how Optimus will be made. Tesla versions its factories like they version their product. They spend time perfecting it and have design reviews of their factory designs just as they do with their products. They have specs and performance attributes they are trying to meet. This is very different from what happens at other companies at the executive level.

      FARZAD MESBAHI: This is such a profound statement because a lot of the stories that I hear are related to, like, say Tesla capitalizing on making manufacturing the product—really just honing in so much on the factory that it becomes the product, the you know, and where we throw around 2 million cars per year, five million cars per year per factory, tens of millions of bots per year sooner than people think. The usual narrative is crazy, pie-in-the-sky; they can’t do that, look at Ford, look at BYD, they can only do so much.

      But what we’re missing here is that we’ve had decades of just sitting on our asses, leveraging cheaper labor versus going out of our way to really push the boundaries of engineering and manufacturing. And now that we have a company that’s willing to do that because the leader is viewing that as a first principles approach to manufacturing, right? Instead of like, okay, cheap labor is good, but why aren’t we pushing manufacturing and engineering as much as we can to make this as efficient and as productive as possible?

      Of course they’re extremely talented, they’re doing something very unique, but it’s also on the backs of 30-40 years of, I’m going to call it laziness. Like, you’re just taking the easy way out, and I get it, more profits, you’re taking care of shareholders—I get it—but you’re not really pushing the boundaries of manufacturing. I think what this leads to is, if companies and leaders truly take this to heart, we’re going to see an explosion in manufacturing across the board. It’s not just going to be a Tesla thing; I think we’re going to see it all over the place.

      JEFF LUTZ: I’m advising companies on this now, you’re going to see massive localization of manufacturing. People think costs just instantly go up when you do that. They do unmitigated, but if you’re a company like Tesla and you’re thinking about it the way they do, they’re actually focused on localizing and making costs go down. Think of it, how many auto factories are expanding in Germany? Just answer that question.

      Watch the entire exchange here:

      Tyler Durden
      Wed, 12/25/2024 – 11:15

    • Dramatic Video Shows Azerbaijan Airlines Passenger Jet Crash In Kazakhstan
      Dramatic Video Shows Azerbaijan Airlines Passenger Jet Crash In Kazakhstan

      Update (1035ET): 

      “There is no official statement that Azerbaijan Airlines flight J28243 was shot down, or shots fired at it, following a video shared on social media showing traces of shrapnel on the rear fuselage section of the aircraft,” Breaking Aviation News & Videos wrote on X. 

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      Breaking Aviation News & Videos provided a first-hand account of the mid-air incident from one passenger:

      “Passenger Kristina from Vladivostok has told the Mash telegram channel that the plane circled over Aktau for about an hour before falling. During the descent, a dull thud was heard, similar to a collision.”

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      Alleged footage of J28243’s final minutes. 

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      What is this unexplained damage on the Embraer ERJ-190’s vertical stabilizer, horizontal stabilizer, and elevators?

      *   *   *

      An Azerbaijan Airlines commercial jet carrying 62 passengers and five crew members crashed in the Kazakhstani city of Aktau. The Embraer ERJ-190 attempted an emergency landing following initial reports of a “bird strike.” Early reports indicate there are 28 survivors.

      “Flight #J28243 that crashed near Aktau Airport in Kazakhstan is an Azerbaijan Airlines Embraer ERJ-190 with registration 4K-AZ65,” flight tracking website Flightradar24 wrote on X. 

      Flightradar24 said, “J28243 took off from Baku at 03:55 UTC time and was flying to Grozny. The aircraft was exposed to strong GPS jamming which made the aircraft transmit bad ADS-B data. At 04:40 UTC we lost the ADS-B signal. At 06:07 UTC we picked up the ADS-B signal again before it crashed at 06:28 UTC.” 

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      “The aircraft was struggling to maintain altitude for more than 1 hour,” Flightradar24 noted.

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      The flight-tracking website also noted: “The aircraft was exposed to GPS jamming and spoofing near Grozny.”

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      Russian media outlet RIA News said the loss of partial flight controls was due to a “collision with birds,” forcing the pilot to declare an emergency and attempt a landing at Aktau. 

      Dramatic videos of the landing approach and crash were posted on X. 

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      Footage of the survivors.

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      “Stabilizer changes position downwards in the last seconds, reminds me of the cases of the 737max,” one X user said. 

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      Were the flight controls locked up? 

      Perhaps one way to crush altitude with loss of flaps… 

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      Bird strike? Or… 

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      *Developing… 

      Tyler Durden
      Wed, 12/25/2024 – 10:35

    • El-Erian: A Baseline Scenario For The Global Economy In 2025
      El-Erian: A Baseline Scenario For The Global Economy In 2025

      Authored by Mohamed El-Erian via Project Syndicate,

      In 2024, global geopolitics and national politics have undergone considerable upheaval, and the world economy has both significant weaknesses, including Europe and China, and notable bright spots, especially the US. In the coming year, the range of possible outcomes will broaden further.

      It is something of a tradition every December to take stock of the year that is ending and consider what might lie ahead. This is true on a personal level: in my family, we tend to do this around the dinner table.

      But it is also true more broadly, with the time of year inviting an examination of the intersection of economics, national politics, and global geopolitics.

      You would be forgiven if, as a starting point, you expected these three areas to be in alignment.

      After all, they are deeply interconnected, which suggests self-reinforcing dynamics.

      But 2024 brought some unusual dispersion in this relationship that actually widened, rather than narrowed, over the course of the year.

      Begin with geopolitics. In 2024, Russia secured a greater advantage in the Ukraine war than the consensus forecasts of a year ago anticipated. Similarly, the human suffering and physical destruction resulting from the Israel-Hamas war in Gaza exceeded most observers’ already-grim expectations, and spread to other countries, such as Lebanon. The apparent impunity of the strong, together with the absence of effective means of preventing dire humanitarian crises, has deepened the sense for many that the global order is fundamentally imbalanced, and lacks any enforceable guardrails.

      As for domestic politics, upheaval has been the order of the day in many countries. Governments have collapsed in both France and Germany – Europe’s largest economies – leaving the European Union without political leadership. And following Donald Trump’s victory in last month’s presidential election, the United States is preparing for a political transition that is likely to bring a significant increase in the political influence of a new “counter-elite.”

      Meanwhile, an “axis of convenience” – comprising China, Iran, North Korea, and Russia – is seeking to challenge the Western-dominated international order. Other recent developments – from the now-impeached South Korean president’s abrupt declaration of martial law (which was quickly reversed) to the collapse of Bashar al-Assad’s regime in Syria – have reinforced the impression that we are living at a time of exceptional geopolitical and political volatility.

      The last year also brought some worrisome macroeconomic developments.

      Europe’s malaise has deepened, as countries grapple with low growth and large budget deficits. And China has failed to respond credibly to the clear and present danger of “Japanification,” with unfavorable demographics, a debt overhang, and a prolonged property-market downturn undermining growth, economic efficiency, and consumer confidence.

      And yet, stock markets have remained relatively stable and delivered high returns, including almost 60 record-high closes for the S&P index.

      The US economy’s exceptional performance is a major reason why. Far from weakening, as most economists expected, the US pulled even further ahead. Given the amount of foreign capital the US is attracting, and the scale of its investment in the future drivers of productivity, competitiveness, and growth, it is likely to continue outperforming other major economies in 2025.

      One consequence of this success is that the US Federal Reserve did not deliver the soothing 1.75-2-percentage-point interest-rate cuts that markets were pricing in a year ago.

      This trend, too, is set to continue: at December’s policy meeting, the Fed signaled fewer cuts in 2025, and a higher terminal (long-run) rate.

      But political and geopolitical upheaval – and the limited prospects for significant improvements – does pose a risk to the endurance of US economic exceptionalism. Even if the US continues outperforming its peers, as expected, the range of possible outcomes, in terms of both growth and inflation, has widened. In fact, global economic and policy outcomes as a whole are now subject to a larger possibility set, both because the downside risks have grown and because upside innovations – such as in artificial intelligence, life sciences, food security, health care, and defense – could transform sectors and accelerate productivity gains.

      Absent a major policy reset, my baseline scenario for the US includes a somewhat lower immediate growth rate, even as the economy outperforms its peers, and sticky inflation.

      This will present the Fed with a choice:

      1. accept above-target inflation,

      2. or attempt to bring it down and risk tipping the economy into recession.

      Globally, economic fragmentation will continue, pushing some countries to diversify their reserves further away from the US dollar and explore alternatives to Western payment systems. Yields on US ten-year government bonds – a global benchmark – will edge higher, trading mostly in the 4.75-5% range. As for financial markets, they might find it more challenging to maintain their status as the “good house” in a challenging geo-economic neighborhood.

      This is how things appear now. But, beyond recognizing the wider dispersion of possible economic outcomes in 2025, it will be crucial regularly to test whichever baseline one embraces against actual developments.

      Tyler Durden
      Wed, 12/25/2024 – 10:30

    • Too Much Tesla Hype From Wedbush's Daniel Ives? Deutsche Bank Sees Q4 Deliveries Missing
      Too Much Tesla Hype From Wedbush’s Daniel Ives? Deutsche Bank Sees Q4 Deliveries Missing

      Wedbush analyst Daniel Ives recently told clients that Tesla could surpass a $2 trillion market cap by the end of 2025. He raised Tesla’s price target to $515 from $400 while reiterating an “Outperform” rating. 

      Ives called incoming policy shifts under Trump’s second term a “total game changer” as Tesla’s autonomous driving and artificial intelligence businesses are expected to surge in a more friendly operating environment. 

      “We are raising our price target on Tesla to $515 from $400 as we believe the Trump White House the next 4 years will be a “total game changer” for the autonomous and AI story for Tesla and Musk over the coming years. Our bull case is $650 for 2025,” Ives told clients. 

      However, in a separate note, Deutsche Bank’s Edison Yu and Winnie Dong provided clients with the understanding that quarter four “represents the largest delivery quarter for Tesla” and “so far we think it is tracking somewhat below” the 515,000 mark needed to grow volume on the year.

      “Tesla volume could fall slightly below target Tesla would need to deliver at least 515k vehicles in Q4 to grow volume slightly for the full year, and based on quarter-to-date data, it appears to be tracking closer to 500k vs. DBe/Street at 510-511k,” the analysts said. 

      They expect, “The largest source of volume in Q4 should come from China, which appears to be tracking to nearly 210k deliveries, helped by zero % financing incentives, along with a cash discount on the Model Y. N. America should be around 150k and Europe at 84k units,” adding, “In October and November, retail sales in China totaled 40.5k and 73.5k units, and December MTD is >40k units (through the 15th). By model, our tracking suggests 153k units of Model 3, 322k of Model Y, 11k of Model S+X, and ~14k of Cybertruck.” 

      The analysts also provided third-quarter figures showing that the Tesla Model Y, Model 3, and Cybertruck were the best-selling models in the US. Regarding purchasing these vehicles, Experian data shows Teslas have the highest percentage of loans and or cash transactions compared to all other EV sales, with many other brands seeing more leases by consumers. Perhaps that speaks volumes about Elon Musk’s brand in the eyes of the consumer…

      In the third quarter, Tesla reported 462,890 deliveries and 469,796 vehicles produced, slightly missing the FactSet StreetAccount. As for Tesla, hitting the 515,000 mark for the fourth quarter to achieve growth in the full year remains questionable. 

      Entering the new year, Musk’s EV price war with startups and legacy brands is expected to intensify as President-elect Donald Trump plans to eliminate the $7,500 EV tax credit. Musk has applauded Trump’s decision to roll back EV tax credits, which could bankrupt his competitors. 

      New auto loan rates remain at two-decade highs and are expected to stay elevated through 2025, adding continued headwinds to auto sales amid an affordability crisis.

      Tyler Durden
      Wed, 12/25/2024 – 09:55

    • Russia Launches Christmas Assault On Ukraine, Targeting Power Grid 
      Russia Launches Christmas Assault On Ukraine, Targeting Power Grid 

      Russia unleashed a massive aerial attack using missiles and drones on Ukraine’s energy infrastructure. Ukraine’s President Volodymyr Zelenskiy called the Christmas Day assault “inhuman.”

      “Today, Putin deliberately chose Christmas to attack. What could be more inhuman? More than 70 missiles, including ballistic missiles, and more than a hundred attack drones,” the Ukrainian president wrote on Telegram.

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      Bloomberg cited Ukraine’s power grid operator, Ukrenergo, as saying the attack left 500,000 customers in the Kharkiv region without heating, while blackouts were triggered in parts of Kyiv and elsewhere. 

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      Zelenskiy said, “Russian evil will not break Ukraine and will not distort Christmas.” Duh… Starlink. 

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      Russia’s Defence Ministry confirmed the Christmas Day aerial strike on Ukraine as a “massive” one and said energy infrastructure near Kyiv’s “military-industrial complex” was targeted. 

      “The aim of the strike was achieved. All facilities have been hit,” the ministry wrote in a statement, as quoted by Reuters. 

      Nearly three years into the war and marking the second Christmas, Free Press’ Jay Solomon recently asked: “Is World War III Already Here?”

      Meanwhile, US President-elect Donald Trump recently described the war in Ukraine as total “carnage,” unprecedented since World War II, and emphasized the urgent need for peace.

      Gen Zers aspiring to become social media influencers or OnlyFans models should realize they could be the ones shipped off if World War III erupts. This generation’s lack of anti-war advocacy might stem from ignorance, as their faces remain glued to their devices.

      Tyler Durden
      Wed, 12/25/2024 – 09:20

    • Syrian Christians Protest Presence Of Foreign Jihadists After Christmas Display Burned
      Syrian Christians Protest Presence Of Foreign Jihadists After Christmas Display Burned

      Starting Monday night and into Tuesday, large demonstrations broke out in Christian areas of Damascus and other parts of Syria over the continued presence of foreign jihadists in the country.

      The ruling Hayat Tahrir al-Sham (HTS) has vowed to protect the sizeable non-Muslim communities of Syria (Christians, Alawites, and Druze) following the overthrow of the secular-leaning President Assad and his Baath government, but deep fears have remained that an Islamic state based on Sharia law will emerge.

      HTS Abu Mohammed al-Jolani is currently trying to appease Western and external backers by saying all the ‘right things’ in public—but Christians in particular are deeply fearful given that since the jihadist takeover of the country there have been several acts of anti-Christian vandalism and attacks.

      Under the prior Assad government, Christians and others had a high degree of religious freedom. Churches would sound bells on special holidays, Christmas lights and decorations would be prominent in December, and special festivals would often take over entire streets and neighborhoods in celebration.

      The pre-war Christian population was commonly estimated to be ten to twelve percent of the population, but since 2011 many have fled. Christians have also been killed or kidnapped over the years by Western and Gulf-backed militants, including priests and two bishops who were Christian leaders in Aleppo.

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      While Jolani is trying to send positive signals to the US government and others over the future of Syria’s Christians, Church leaders and the people are not waiting around.

      On Tuesday night Christian districts in and around Damascus as well parts of Hama countryside erupted in protest after the day prior armed men set fire to a large Christmas display in the Christian town of Suqaylabiyah, in Hama governate.

      Below is a scene from one of the largest Christian areas of central Damascus Tuesday night:

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      “We demand the rights of Christians,” the protesters chanted, many carrying crosses. Other slogans demanded a future role in the country for all Syrians, and that churches and the religious freedom of everyone must be protected.

      A regional source has described the initial Christmas tree burning which outraged Syria’s Christians as follows:

      Video footage that circulated on social media on 23 December showed a large Christmas tree burning in Hama’s Suqaylabiyah – a Christian neighborhood. The tree was set ablaze on Monday by foreign militants under HTS’s command. Some reports said the militants were from Chechnya, while others said they were Uzbeki fighters.

      HTS deployed a military official to the scene of the burning to condemn the incident and vow punishment for those responsible. 

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      “Protests led by Syrian Christians also took place in Sahnaya, Jaramana, Hama, and other areas of the country,” the same outlet reported.

      Church leaders remain on edge given that foreign militants control broad swathes of the countryside and are able to attack non-Muslims with impunity. HTS has also at times conducted acts of “intimidation” – for example by entering church services in Damascus while openly brandishing rifles.

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      Christians are telling HTS that if they are serious about governing, they must immediately kick the foreign jihadists out of the country. The black flags of ISIS have also been spotted in various parts of the country, and are sometimes even sported by HTS members themselves.

      The foreign jihadists entered the country in the first place during the prior 13 years of war, often crossing into Syria from NATO-member Turkey and with the tacit support of the Western and Gulf anti-Assad alliance.

      * * *

      For more on the history of Christians in Syria and persecution at the hands of fanatical militant groups during the past decade of war, see Syria Crucified…

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      Tyler Durden
      Wed, 12/25/2024 – 08:45

    • Bitcoin Christmas: How To Give Family & Friends Useful Crypto Advice
      Bitcoin Christmas: How To Give Family & Friends Useful Crypto Advice

      Authored by Daniel Ramirez-Escudero via CoinTelegraph.com,

      Retail investors are famously always late to the party, flocking to Bitcoin only when it smashes through glamorous milestones like $100,000. 

      This Christmas, the dinner table will offer more than turkey and pudding. Expect curious relatives to test your crypto savvy and ask how to join the bull market. Are you ready for the spotlight?

      This festive season, your “orange pill” credentials are on trial. Will you dazzle with eloquent arguments on decentralization and monetary sovereignty or crumble like a stale mince pie and just stammer, “Number go up!” under the holiday spotlight? 

      Fear not — here are some tips to steer your family and friends through the crypto conversation.

      Remember: You’re not a crypto guru and can’t predict the future

      One of the first things you must do is make sure they know that any action taken “is their responsibility.” 

      Inexperienced investors might mistake you for a crypto guru, but let’s be honest — that’s probably not the case. Chris Burniske, partner at venture capital firm Placeholder and former blockchain products lead at ARK Invest, put it:

      “No one knows anything for sure about markets. The only people you know for sure are lying, are those who say they ‘know for sure.’”

      When crypto markets roar in a full-blown bull run, everyone feels like the next Warren Buffett. Stay humble — admit you don’t have all the answers. Remind them not to follow your footsteps blindly like a herd of sheep. Caution is key, even in the frenzy.

      Give them context on where we are in the bull market

      As Bitcoin dominates headlines, everyday investors with little experience often succumb to FOMO — the fear of missing out — and rush in without fully understanding the risks. 

      Retail investors are often desperate to get in fast, driven by the overwhelming hype where everybody seems to be becoming rich with crypto.

      Bitcoin Roller Coaster. Source: Bitcoincoaster

      Successful crypto traders counter their human instincts — they buy when crypto attention is low and sell when euphoria sweeps the market. Retail investors, on the other hand, often follow the herd, driven by emotion rather than strategy.

      Burniske said the “painful reality” is that rising cryptocurrency prices inevitably draw attention, which fuels further buying. The feedback loop, which he nicknamed the “attention cycle,” accelerates when prices become extraordinary.

      “The later we are in that attention cycle, the worse the entry.”

      Burniske advises, “Give them context on where we are currently in the cycle.” He believes the market has been in a bull run for two years and may now enter its final stages.

      So, what should you do when their “appetite for crypto exposure remains insatiable,” even if it’s possibly the wrong time to enter?

      Burniske believes they should enter with an equal proportion to Bitcoin, Ether and Solana  with a ratio of 50%/25%/25%. Burniske said that if they get trapped if the market turns into a bear market, at least “they’re holding quality.”

      If they’re tempted to dive into altcoins or memecoins chasing get-rich-quick schemes, Burniske recommends advising them to allocate no more than 10% of their total investment while reminding them that it’s “at their own risk.”

      Timing the crypto exit is the real challenge

      Stepping into the crypto markets is easy. Many retail investors dive in with excitement, quickly seeing gains as the bull market drives prices upward. But remember, what goes up must come down.

      The conditions for the crypto markets have rarely been more favorable, particularly in terms of crypto regulation and institutional adoption.

      United States President-elect Donald Trump made numerous pro-crypto promises during his election campaign. Securities and Exchange Commission Chair Gary Gensler looks set to be replaced by the pro-crypto Paul Atkins, and a Solana bagholder is set to become the new US crypto czar.

      Senator Cynthia Lummis has proposed a bill for the US to buy Bitcoin as a strategic reserve asset, and institutional adoption continues to soar, with crypto exchange-traded funds (ETFs) breaking new records. 

      The rise of the Bitcoin ETF market capitalization. Source: CoinGlass

      Given these transformative changes, some believe the historical four-year Bitcoin cycle will be replaced with a supercycle, where assets trend ever upward.

      But don’t bank on it. Burniske warns that this could lead retail investors to miss the opportunity to take profits at the market peak.

      “‘Supercycle’ is without fail a collective delusion.”

      Burniske acknowledges that “ETFs and potential sovereign buying ‘could’ mean we don’t have as brutal a bear in the future for BTC.” However, he cautions, “Anything that goes 100x quickly is prone to at least an 80-90% crash at some point, structurally — too many people sitting on profit.”

      Bitcoin’s price performance peaks and lows from prior cycles. Source: Caleb & Brown

      Burniske said that it’s hard for people to grasp how sharply a cryptocurrency can decline. However, given you’ve probably roundtripped your own bags in at least one previous cycle, you can warn them of the problem. “Since you’ve lived it, you know, and now you can teach them.”

      Nothing is certain except death and taxes

      Armed with the knowledge you’ve given them about what to buy and when to sell, there are still further common mistakes investors can make, according to Burniske.

      When investors sell during a bull market, they may watch the coin continue to soar, as no one can predict when the peak has been reached. Burniske advises teaching new investors to resist FOMO and avoid reinvesting profits in an attempt to chase further gains. This is “generally a horrible idea.”

      This practice is risky because if the market suddenly collapses, investors could owe more taxes on realized gains than the value of the assets left after the crash.

      To avoid falling into this FOMO trap, he recommends placing the gains out of the crypto market for 12–18 months in traditional accounts, which can provide some interest (crypto stablecoins have additional risks). This reserved money will be used to pay tax liabilities. 

      Once taxes are settled, the cycle can begin anew. Burniske recommends “sniffing around again” in crypto markets when sentiment turns to apathy, typically around 12 months after the peak.

      Wall Street cheat sheet: the psychology of a market cycle. Source: ResearchGate

      As an experienced crypto investor, it’s crucial to help guide new investors to avoid repeating the same mistakes in the next bull market. Encourage them to get interested in crypto when the attention cycle is low — or non-existent. If done right, they’ll be well-positioned to educate other newcomers who might jump in during the next wave of hype.

      Tyler Durden
      Wed, 12/25/2024 – 08:10

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