- Never Forget: Leftists Showed Their True Authoritarian Colors During COVID
Never Forget: Leftists Showed Their True Authoritarian Colors During COVID
Authored by Brandon Smith via Alt-Market.us,
When I think back to the first days of the covid pandemic lockdowns, I suspect the majority of people, even many conservatives and liberty movement types, had a healthy concern about the effects of the virus and the potential for structural upheaval if it turned out to be as deadly as the World Health Organization initially claimed. If covid had an Infection Fatality Rate of 3% or more as global health officials warned, then the damage would be substantial enough to change our world for many years to come.
Anyone who was not at least partially concerned about a biological disaster (or biological warfare) was probably an idiot. Anyone who was smart was prepared. However, after a few months of the spread of the virus and after the first flurry of scientific data, several facts became evident:
1) The lockdowns did nothing to stop the spread, they were simply destroying our economy.
2) The masks were useless and did nothing to prevent transmission of the virus.
3) The IFR of covid was a tiny 0.23%, and that’s not accounting for all the co-morbidity deaths that were falsely labeled as covid deaths.
4) The vaccines did not prevent transmission for millions of people. They did not prevent infection in many cases and numerous vaccinated people have died from the virus. Not only that, but unvaccinated people with natural immunity were better protected than those that took the vaccine and boosters.
5) Studies show that the vaccines cause dangerous side effects at a much greater rate than the CDC admitted.
Everything government officials told us during the pandemic was a lie. It was not a mistake, it was not bureaucratic confusion, it was a lie. Even after this information became available, they KEPT GOING – They kept people locked down, kept them masked and they even tried to force-vaccinate the population. There were some Republican politicians that also went along with the panic, many of them Neocons (fake conservatives). However, the majority of red states quickly ended the restrictions once the contradictory data was made public. In the meantime, the blue states looked ridiculous and paranoid as they desperately clung to the mandates.
I believe the only reason Biden, the Democrats and globalist institutions eventually stopped was not because they realized their science was incorrect; it was because they realized millions of conservatives and independents were ready start a shooting war over the mandates and they knew they would lose.
Even today, months after Biden was forced to finally end the national emergency status on covid, there are still a lot of people out there running around with masks, still isolating in their homes and still complaining all over social media that the public has moved on from the pandemic hysteria. Where does this behavior originate? And why did so many Americans (mainly leftists) jump on the authoritarian bandwagon when it comes to lockdowns and forced vaccination?
I want to explore the psychology of such people here, because I think it’s the natural inclination of the public today to move on quickly from the discomfort of terrible events and ignore the deeper implications. We cannot move on from this, because the ultimate problem was never solved. These same leftists and globalists were never admonished for their behavior, they never had to admit they were wrong and they WILL attempt the same draconian measures again in the future if left unchecked.
Here is what I think happened during the covid cult frenzy…
A Useful Weapon Against The Constitution
Leftists are quick these days to change the subject or outright deny their authoritarian activities during covid. It makes sense, they view the next election as a defining election and they want people to forget that we almost lost what remains of our constitutional rights because of their policies. But again, we can’t allow these things to fade into the ether. Here’s a list of the worst trespasses on the part of leftists and globalists during the pandemic:
They lied about the effectiveness of the lockdowns.
They lied about the effectiveness of the masks.
They lied about the effectiveness of the vaccines.
They lied about how extensive the testing was for the covid vaccines.
They lied about the “pandemic of the unvaccinated.”
They enforced lockdowns OUTSIDE where it is nearly impossible to contract a virus.
They tried to put the population under house arrest.
They put legislation in motion in some states to build “covid camps” in the US.
In some countries, they did build covid camps, not just for travelers, but for everyone.
They conspired to suppress ample evidence linking the Wuhan Lab in China with the outbreak.
They (Government and Big Tech) conspired to use social media as a tool for mass censorship of conflicting data.
They exploited algorithms through search engines to bury any and all contrary information.
As many leftists openly admitted, the goal was to make life so difficult for the unvaccinated that they would eventually comply in order to survive. In this way, establishment elites and leftists could claim that people “volunteered” for the vaccines and no one was forced. What they really meant was, no one was forced at gunpoint, but we all knew that threat was coming next. In fact, polling showed that a large percentage of Democrats were willing to scrap the Bill of Rights altogether and declare war on the unvaccinated…
Finally, the vast majority of leftists supported Biden’s vaccine passport executive orders for workers in companies with 100 employees or more, which would have ultimately led to vaccine passports for everyone. This would have destroyed the constitution as we know it and created a society in which economic participation is completely controlled by the government. Keep in mind, all of this was being justified by a virus with a tiny 0.23% median death rate.
Since the political left views the Bill of Rights as an obstacle to the majority of their political goals, I argue that they simply saw the pandemic as a vehicle they could exploit to remove constitutional protections they always wanted to get rid of anyway.
The Mentally Ill Took Over The Country
Around 23% of the US population is estimated to have at least one mental illness. On average, around 3% of the population suffers from psychotic episodes and 1% of the population is full blown psychopathic (incapable of empathy and takes joy in the suffering of others). America is a sick nation full of psychologically disturbed people, and there is currently no recourse for fixing the problem.
Instead, under the leftist methodology, the mentally ill are elevated, idolized and enabled while violent criminals are released onto the streets over and over again. Take one look at all the major cities on the west coast of the US where progressive policies rule and see the disturbing decline. But what does this have to do with medical tyranny under covid?
The political left uses the mentally ill as a bludgeon, an easily manipulated tool for chaos. During the lockdowns and restrictions the establishment and the media stoked the fires of paranoia. By themselves they have no power; they need the crazed mob as a weapon to keep the rest of the country afraid and in line. They needed good little Stasi, always watching, always correcting, always screaming at those without masks, attacking those that refused to get vaxxed and mocking those that spoke out about scientific inconsistencies.
And, in return, the establishment made the mentally ill feel as if they were normal. For a fleeting moment in time, the most unstable and narcissistic people on the planet were made to feel like THEY were on the right side of history and rationality. It was a parasitic feedback loop that almost destroyed the last vestiges of America.
Tiny Tyrants Begging For Scraps From The Globalist Table
There are generally two kinds of people in the world – Those that want power over others, and those that just want to be left alone. The progressive ideology seems to be a breeding ground for “tiny tyrants”: People who have no individual power, little accomplishment and no influence to speak of, but are still stricken with an obsession to micromanage the world around them. These folks see crisis and government overreach as an opportunity rather than a threat.
There are also those people who view their existence as so devoid of interest or excitement that they tend to live vicariously through calamity and conflict. They saw the covid outbreak and the lockdowns as a moment that gave their lives “meaning.” Yes, it’s sad and pathetic, but this is how many people out there cope with obscurity and lack of merit.
These opportunists didn’t want the pandemic to end. They wanted it to go on forever, because if it did they could feed off the establishment power shift. They could gather scraps from the globalist table, and like carrion, feast on the corpse of our Republic. The motive? Selfish vanity, that is all.
All of this could very well happen again. The big tyrants and tiny tyrants are still out there, waiting for the next crisis; the next panic event to take the public off their guard. Another viral event is unlikely, but they do seem anxious to use climate change, war and economic turmoil as the next great “reset” button. In the end, there will have to be a dramatic shift in how the liberty minded interact with the authoritarian left. It is clear that we cannot share the same country, or the same civilization. Our values are fundamentally at odds. It’s only a matter of time before a single spark ignites a firestorm.
* * *
If you would like to support the work that Alt-Market does while also receiving content on advanced tactics for defeating the globalist agenda, subscribe to our exclusive newsletter The Wild Bunch Dispatch. Learn more about it HERE.
Tyler Durden
Fri, 08/11/2023 – 23:40 - Visualizing The Global Population By Water Security Levels
Visualizing The Global Population By Water Security Levels
Most of the world’s population today lives in countries facing critical water security issues.
Dealing with issues such as declining freshwater availability, demand from growing populations, insufficient infrastructure, or flawed water governance can impact how easily a country’s population can access water. A combination of multiple factors quickly makes problems with water security a lived reality.
As Visual Capitalist’s Freny Fernandes illustrates below, a recent Global Water Security Report by the United Nations University assessed the water security of different countries across the world.
Methodology
This study assesses water security in countries by examining 10 different underlying components, ranging from water quality and sanitation to availability, resource stability, and climate-related risks.
Each component is given a score out of 10, with a nation’s overall water security score calculated from the sum. Water security levels are assigned based on the overall scores:
-
75 and above is classified as “water secure”
-
65‒74 is classified as “moderately secure”
-
41‒64 indicates a country is “water insecure”
-
40 and below is considered “critically insecure”
Water Security Levels by Country
Water security remains a concern around the world, but is especially dire in regions like the Middle East and Africa, where 13 of the 23 nations in the critically insecure category are located.
In total, 113 countries are considered water insecure, including the world’s two most populated, India and China. An additional 24 countries are considered critically water insecure, with the largest by population including Pakistan and Ethiopia
Country Water Security Score Assessed Level 🇦🇫 Afghanistan 32 Critical 🇦🇱 Albania 60 Insecure 🇩🇿 Algeria 58 Insecure 🇦🇴 Angola 53 Insecure 🇦🇬 Antigua and Barbuda 56 Insecure 🇦🇷 Argentina 56 Insecure 🇦🇲 Armenia 60 Insecure 🇦🇺 Australia 78 Secure 🇦🇹 Austria 85 Secure 🇦🇿 Azerbaijan 60 Insecure 🇧🇸 Bahamas 48 Insecure 🇧🇭 Bahrain 67 Moderate 🇧🇩 Bangladesh 51 Insecure 🇧🇧 Barbados 44 Insecure 🇧🇾 Belarus 68 Moderate 🇧🇪 Belgium 71 Moderate 🇧🇿 Belize 54 Insecure 🇧🇯 Benin 47 Insecure 🇧🇹 Bhutan 56 Insecure 🇧🇴 Bolivia 55 Insecure 🇧🇦 Bosnia and Herzegovina 62 Insecure 🇧🇼 Botswana 55 Insecure 🇧🇷 Brazil 69 Moderate 🇧🇳 Brunei Darussalam 52 Insecure 🇧🇬 Bulgaria 67 Moderate 🇧🇫 Burkina Faso 49 Insecure 🇧🇮 Burundi 45 Insecure 🇨🇻 Cabo Verde 54 Insecure 🇰🇭 Cambodia 46 Insecure 🇨🇲 Cameroon 47 Insecure 🇨🇦 Canada 75 Secure 🇨🇫 Central African Republic 43 Insecure 🇹🇩 Chad 39 Critical 🇨🇱 Chile 67 Moderate 🇨🇳 China 64 Insecure 🇨🇴 Colombia 62 Insecure 🇰🇲 Comoros 40 Critical 🇨🇬 Congo, Rep. 58 Insecure 🇨🇷 Costa Rica 69 Moderate 🇨🇮 Côte d’Ivoire 51 Insecure 🇭🇷 Croatia 75 Secure 🇨🇺 Cuba 56 Insecure 🇨🇾 Cyprus 80 Secure 🇨🇿 Czech Republic 75 Secure 🇰🇵 Democratic Republic of Korea 59 Insecure 🇨🇩 Democratic Republic of Congo 50 Insecure 🇩🇰 Denmark 85 Secure 🇩🇯 Djibouti 32 Critical 🇩🇲 Dominica 41 Insecure 🇩🇴 Dominican Republic 46 Insecure 🇪🇨 Ecuador 61 Insecure 🇪🇬 Egypt 45 Insecure 🇸🇻 El Salvador 58 Insecure 🇬🇶 Equatorial Guinea 47 Insecure 🇪🇷 Eritrea 29 Critical 🇪🇪 Estonia 78 Secure 🇸🇿 Eswatini 41 Insecure 🇪🇹 Ethiopia 31 Critical 🇫🇯 Fiji 57 Insecure 🇫🇮 Finland 83 Secure 🇫🇷 France 81 Secure 🇬🇦 Gabon 52 Insecure 🇬🇲 Gambia 50 Insecure 🇬🇪 Georgia 63 Insecure 🇩🇪 Germany 79 Secure 🇬🇭 Ghana 52 Insecure 🇬🇷 Greece 80 Secure 🇬🇩 Grenada 48 Insecure 🇬🇹 Guatemala 55 Insecure 🇬🇳 Guinea 46 Insecure 🇬🇼 Guinea-Bissau 44 Insecure 🇬🇾 Guyana 44 Insecure 🇭🇹 Haiti 34 Critical 🇭🇳 Honduras 52 Insecure 🇭🇺 Hungary 75 Secure 🇮🇸 Iceland 83 Secure 🇮🇳 India 41 Insecure 🇮🇩 Indonesia 51 Insecure 🇮🇷 Iran, Islamic Rep. 48 Insecure 🇮🇶 Iraq 51 Insecure 🇮🇪 Ireland 82 Secure 🇮🇱 Israel 75 Secure 🇮🇹 Italy 78 Secure 🇯🇲 Jamaica 59 Insecure 🇯🇵 Japan 77 Secure 🇯🇴 Jordan 65 Moderate 🇰🇿 Kazakhstan 58 Insecure 🇰🇪 Kenya 46 Insecure 🇰🇼 Kuwait 75 Secure 🇰🇬 Kyrgyzstan 54 Insecure 🇱🇦 Lao PDR 56 Insecure 🇱🇻 Latvia 78 Secure 🇱🇧 Lebanon 59 Insecure 🇱🇸 Lesotho 54 Insecure 🇱🇷 Liberia 36 Critical 🇱🇾 Libya 37 Critical 🇱🇹 Lithuania 81 Secure 🇱🇺 Luxembourg 85 Secure 🇲🇬 Madagascar 37 Critical 🇲🇼 Malawi 47 Insecure 🇲🇾 Malaysia 75 Secure 🇲🇻 Maldives 49 Insecure 🇲🇱 Mali 43 Insecure 🇲🇹 Malta 62 Insecure 🇲🇷 Mauritania 41 Insecure 🇲🇺 Mauritius 43 Insecure 🇲🇽 Mexico 61 Insecure 🇫🇲 Micronesia 38 Critical 🇲🇳 Mongolia 60 Insecure 🇲🇪 Montenegro 51 Insecure 🇲🇦 Morocco 57 Insecure 🇲🇿 Mozambique 46 Insecure 🇲🇲 Myanmar 50 Insecure 🇳🇦 Namibia 51 Insecure 🇳🇵 Nepal 48 Insecure 🇳🇱 Netherlands 72 Moderate 🇳🇿 New Zealand 81 Secure 🇳🇮 Nicaragua 54 Insecure 🇳🇪 Niger 38 Critical 🇳🇬 Nigeria 57 Insecure 🇲🇰 North Macedonia 51 Insecure 🇳🇴 Norway 84 Secure 🇴🇲 Oman 55 Insecure 🇵🇰 Pakistan 37 Critical 🇵🇦 Panama 61 Insecure 🇵🇬 Papua New Guinea 34 Critical 🇵🇾 Paraguay 63 Insecure 🇵🇪 Peru 55 Insecure 🇵🇭 Philippines 58 Insecure 🇵🇱 Poland 70 Moderate 🇵🇹 Portugal 75 Secure 🇵🇷 Puerto Rico 51 Insecure 🇶🇦 Qatar 73 Moderate 🇰🇷 Republic of Korea 70 Moderate 🇲🇩 Republic of Moldova 57 Insecure 🇷🇴 Romania 70 Moderate 🇷🇺 Russian Federation 73 Moderate 🇷🇼 Rwanda 46 Insecure 🇰🇳 Saint Kitts and Nevis 36 Critical 🇱🇨 Saint Lucia 46 Insecure 🇻🇨 Saint Vincent and the Grenadines 42 Insecure 🇼🇸 Samoa 50 Insecure 🇸🇹 Sao Tome and Principe 50 Insecure 🇸🇦 Saudi Arabia 56 Insecure 🇸🇳 Senegal 49 Insecure 🇷🇸 Serbia 57 Insecure 🇸🇨 Seychelles 50 Insecure 🇸🇱 Sierra Leone 38 Critical 🇸🇬 Singapore 61 Insecure 🇸🇰 Slovakia 76 Secure 🇸🇮 Slovenia 76 Secure 🇸🇧 Solomon Islands 23 Critical 🇸🇴 Somalia 35 Critical 🇿🇦 South Africa 56 Insecure 🇸🇸 South Sudan 37 Critical 🇪🇸 Spain 77 Secure 🇱🇰 Sri Lanka 40 Critical 🇵🇸 Palestine 51 Insecure 🇸🇩 Sudan 30 Critical 🇸🇷 Suriname 57 Insecure 🇸🇪 Sweden 90 Secure 🇨🇭 Switzerland 84 Secure 🇸🇾 Syria Arab Republic 42 Insecure 🇹🇯 Tajikistan 44 Insecure 🇹🇭 Thailand 53 Insecure 🇹🇱 Timor-Leste 42 Insecure 🇹🇬 Togo 49 Insecure 🇹🇴 Tonga 43 Insecure 🇹🇹 Trinidad and Tobago 54 Insecure 🇹🇳 Tunisia 58 Insecure 🇹🇷 Türkiye 68 Moderate 🇹🇲 Turkmenistan 49 Insecure 🇺🇬 Uganda 49 Insecure 🇺🇦 Ukraine 62 Insecure 🇦🇪 United Arab Emirates 66 Moderate 🇬🇧 United Kingdom 79 Secure 🇹🇿 United Republic of Tanzania 46 Insecure 🇺🇸 United States of America 80 Secure 🇺🇾 Uruguay 60 Insecure 🇺🇿 Uzbekistan 46 Insecure 🇻🇺 Vanuatu 31 Critical 🇻🇪 Venezuela 56 Insecure 🇻🇳 Vietnam 48 Insecure 🇾🇪 Yemen 38 Critical 🇿🇲 Zambia 56 Insecure 🇿🇼 Zimbabwe 49 Insecure Countries facing water security issues account for 72% of the world’s population, with an additional 8% of the global population facing critical water insecurity.
That includes 4.3 billion people in the Asia-Pacific region alone, and an additional 1.3 billion people across Africa. Many of these countries are grappling with issues including fast-growing populations and drought conditions faster than they can develop the necessary infrastructure to deal with them.
Only 12% of the world’s population lives in water-secure countries, including almost all Western countries, with Norway at the very top of the rankings at an overall score of 90. An additional 8% of the world lives in moderately secure countries such as Brazil and Russia.
However, water availability in these more secure countries is not perfect either. For example, U.S. states reliant on the Colorado River for irrigation and drinking water are facing continued drought conditions and limiting consumption, with further crisis on the horizon.
Towards a Water Secure Future
As nations around the world face increasing water-related challenges, governments and international agencies have been collaborating to foster sustainable water management practices. In fact, clean water and sanitation for all is one of the UN’s Sustainable Development Goals (SDGs).
Many regions have already begun to implement these practices. For example, cities in California have begun recycling wastewater and capturing stormwater to deal with water scarcity. Farming-dependent regions are also looking to smart agriculture to reduce the drain on the limited freshwater resources.
Such initiatives to improve water irrigation systems, enhance water infrastructure, and conserve the depleting freshwater reserves may help elevate countries out of water insecurity and help preserve this precious resource for generations to come.
Tyler Durden
Fri, 08/11/2023 – 23:20 -
- COVID-19 Vagus Nerve Inflammation May Lead To Dysautonomia: New Study
COVID-19 Vagus Nerve Inflammation May Lead To Dysautonomia: New Study
Authored by Megan Redshaw via The Epoch Times (emphasis ours),
New data may provide answers for those experiencing persistent symptoms long after their bout with COVID-19 has ended. These may include fatigue, lightheadedness, brain fog, cognitive issues, gastrointestinal problems, heart palpitations, shortness of breath, or an inability to tolerate upright postures.
A July 15 study published in Acta Neuropathologica suggests that SARS-CoV-2 infection may damage the nerves of the autonomic nervous system (ANS), causing an inflammatory response that can later lead to dysautonomia observed in long COVID patients.
(Billion Photos/Shutterstock) Study Findings
Using several methods, researchers at the University Medical Center Hamburg-Eppendorf in Germany performed a microscopic analysis of the vagus nerves in 27 deceased patients with COVID-19 and five controls who died of other causes, without COVID-19.
The vagus nerve is a vital component of the ANS that regulates critical functions such as digestion, respiratory and heart rate, and immune response. Vagus nerve signaling to the brainstem also controls the “sickness behavior response,” where the brain mounts flu-like symptoms including nausea, fatigue, pain, and other chronic symptoms in response to inflammation.
The researchers detected SARS-CoV-2 RNA in vagus nerve samples obtained from deceased patients with severe COVID-19 showing direct infection of the nerve was accompanied by inflammatory cell infiltration composed mostly of monocytes—a type of white blood cell that finds and destroys germs and eliminates infected cells. Their analysis revealed a “strong enrichment of genes regulating antiviral responses and interferon signaling,” supporting the idea that vagus nerve inflammation is a common phenomenon with COVID-19.
The researchers also analyzed 23 vagus nerve samples of deceased COVID-19 patients grouped into low, intermediate, and high SARS-CoV-2 RNA viral load to determine if the virus was directly detectable in the vagus nerve and if the viral load correlated with vagus nerve dysfunction. Results showed the virus was present in the vagus nerve and also determined there was a direct correlation between SARS-CoV-2 viral RNA load and dysfunction of the central nervous system.
Researchers then screened a cohort of 323 patients admitted to the emergency room between Feb. 13, 2020, and Aug. 15, 2022, categorized by whether they had mild, moderate, severe, critical, or lethal COVID-19. They found that the respiratory rate increased in survivors but decreased in non-survivors of critical COVID-19. These results suggest SARS-CoV-2 induces vagus nerve inflammation followed by autonomic dysfunction (respiratory rate decrease), which “contributes to critical disease courses and might contribute to dysautonomia observed in long COVID.”
Responding to the study, microbiologist Amy Proal of PolyBio Research Foundation wrote on X, “Because the vagus nerve is an essential component of the #autonomic nervous system and regulates body functions such as heart rate, digestion, and respiratory rate, direct infection of the nerve by SARS-CoV-2 may contribute to related symptoms.” She added, “The findings beg the question: Could persistent SARS-CoV-2 infection of the vagus nerve contribute to dysautonomia in #LongCovid?”
What is Dysautonomia?
Nearly 1 in 5 people in the United States continue to experience unexplained symptoms of long COVID after their infection ends, with as many as 66 percent of patients suffering from moderate to severe dysfunction of the ANS known as dysautonomia.
Dysautonomia is a disorder of the ANS, a part of the central nervous system that controls vital involuntary functions such as breathing, heart rate, blood pressure, digestion, skin and body temperature regulation, salivating, hormonal and bladder function, and sexual function. The ANS also plays a role in the acute “fight or flight” stress response and sends messages to and from internal organs.
Dysautonomia causes the ANS—which consists of the sympathetic, parasympathetic, and enteric nervous systems—to malfunction, either through an inability to perform its tasks or by causing too much activity, resulting in high blood pressure or a rapid heart rate. The condition can be confined to the arms and legs or spread throughout the entire body. It can be severe or mild, and may be reversible or worsen over time.
Postural orthostatic tachycardia syndrome (POTS) is a common form of dysautonomia that has increased since the COVID-19 pandemic began and has been reported by those with long COVID and in those following COVID-19 vaccination.
Symptoms of POTS include but are not limited to lightheadedness, difficulty thinking or concentrating, severe and long-lasting fatigue, intolerance to exercise, blurred vision, low blood pressure, heart palpitations, tremors, and nausea.
Since the rollout of COVID-19 vaccines, 801 cases of POTS were reported to the Vaccine Adverse Events Reporting System as of July 28. This includes 597 cases attributed to Pfizer and 171 cases to Moderna.
Treatments for Dysautonomia
Therapeutic treatment options for autonomic dysfunction in the medical community are aimed at symptom management and avoiding triggers using pharmaceutical drugs and nonpharmacologic measures.
Read more here…
Tyler Durden
Fri, 08/11/2023 – 23:00 - The US Military Suicide Crisis
The US Military Suicide Crisis
Nearly half of those serving in the U.S. military have contemplated suicide since joining the forces, according to the Iraq and Afghanistan Veterans of America (IAVA) Members 2022 report.
This is a huge jump up from the nine percent that said they had thought about taking their own life before signing up.
The following chart, from Statista’s Anna Fleck, illustrates how the United States’ has a suicide crisis on its hands, which seemingly is not showing signs of abating. If anything, it has worsened, with the 2014 data recording a slightly lower 31 percent of veterans having experienced suicidal thoughts.
You will find more infographics at Statista
According to a 2021 report by Thomas Howard Suitt at Boston University, suicide rates among the active military personnel and veterans of the post 9/11 wars have been climbing in recent years. While the same trend can be said of the general public, in the military and veterans spheres it’s happening at an even faster rate.
To put this into context, estimates currently put the figure of suicides among active duty personnel and veterans of the post 9/11 wars at 30,177 – a high number, especially when considering that 7,057 U.S. service members were killed in war operations in that time.
Reasons attributed to the higher suicide rates among those in the military and veterans include the high exposure to trauma, stress, military culture and training.
However, factors such as the rise of improvised explosive devices (IEDs) and advances to medical treatment that keep service members in the military longer are also cited. Such high suicide rates, Suitt concludes, mark the “failure of the U.S. government and U.S. society to manage the mental health costs of our current conflicts.”
Tyler Durden
Fri, 08/11/2023 – 22:40 - India Consumes 11x More Crude Oil From Russia, Exposing Ineffectiveness Of Western Sanctions
India Consumes 11x More Crude Oil From Russia, Exposing Ineffectiveness Of Western Sanctions
Russia has now become the main crude oil supplier of India, one of the world’s largest consumers, Hungarian daily Magyar Hírlap reports.
According to the data, export volumes were almost 11 times higher than last year’s shipments over the same period and exceeded shipments for the whole of 2022. Last year, India imported 33.4 million tonnes of Russian crude oil.
It is another sign that Western sanctions have had a much smaller impact than expected on Russia’s ability to export its natural resources.
During the period under review, Russia secured the title of India’s primary supplier of crude oil, followed by Iraq (21.4 million tonnes) and Saudi Arabia (17.5 million tonnes).
Russian crude imports to India continued to grow over the summer, reaching a record 2.2 million barrels per day in June and rising for ten consecutive months, according to crude analyst firm Kpler.
Deliveries fell slightly in July to an average of 1.9 million barrels, according to a special report in the Morning Express newspaper earlier this week.
Analysts attributed the decline to the production cut agreed by the OPEC+ group, under which Moscow has pledged to reduce output by 500,000 barrels a day.
Moscow began redirecting oil shipments to Asia last year in response to Western sanctions on Ukraine, which included an oil embargo and price restrictions on Russian crude and petroleum products. India, the world’s third-largest importer and consumer of oil, has become one of Russia’s biggest consumers by not joining the sanctions and taking advantage of the discounts offered by Moscow.
However, New Delhi has pledged not to breach the Western price ceiling for Russian crude oil, which is set at $60 per barrel, excluding transport, freight, customs, and insurance costs.
Tyler Durden
Fri, 08/11/2023 – 22:20 - 'On The Verge Of The Abyss' – No US Presidential Election In 2024?
‘On The Verge Of The Abyss’ – No US Presidential Election In 2024?
Authored by Raul Ilargi Meijer via The Automatic Earth blog,
In January 2023, US special counsel Jack Smith applied for -and received- a subpoena for Twitter, specifically for all of Donald Trump’s utterances at the site through the years, including the ones he may have never published. Note: the subpoena came long after Trump left Twitter. And no, it wasn’t X then, and therefore it is not now. He wrote it when it was Twitter. Important. Trump left Twitter (was cancelled) on Jan 8 2021, Elon Musk bought it on October 27 2022, and renamed it “X” in late July 2023. Just so we get our horses and dogs in line.
Special counsel Jack Smith received his Twitter/Trump subpoena with the added provision that it had to be entirely secret, not even Twitter or Trump could know. US District Court Judge Beryll Howell gave Smith what he wanted, agreeing that if Trump’s years-old Twitter past was known, he would become a flight risk. But both Smith and Howell knew this was absolute nonsense. Not only is Twitter the last place you turn to when you have nefarious secrets to hide (it’s the opposite!), but the man is running for President, for God’s sake! And because of some 5 year old -or so- tweets he would pack in the family and disappear to an -underground- bungalow on Vanatua, never to be heard from again?
I would put this down as the moment when it became impossible for the US to have a presidential election in 2024. We’ve had some 8 years of this anti-Trump circus now, non-stop, Hillary, Pelosi, Adam Schiff and Robert Mueller, yada yada yada, but I don’t think we’ve reached the point before where the elections might as well be cancelled.
We’re there now though. And that is a BIG point.
We’ve let it come far too far. We’re in slapstick territory.
Think of it as a boxing match.
In the one corner, we have the former champion/president, wearing the slightly widened red trunks. At age 77, he looks somewhat bruised and battered, but he doesn’t look beaten- yet. What’s noticeable though is that his corner is empty, except for Melania cleaning his brow, not even his own party is there to support him. There are some 90 million Americans behind him, but they are at home.
In the other corner, the defending champion, in blue trunks, weighing in at about 25 pounds and falling, looks a little lost. But behind him in his corner he has thousands of operatives: his entire party, plus the CIA and NSA and FBI and DOJ. And all the newspapers and TV channels and social media in the country. And all the judges and prosecutors, the DAs and GAs, it’s a veritable love-in. The guy in the blue trunks could be braindead and he’d still win. And I wish I was a cartoonist, and could capture the entire image in one frame. I can see it in front of my eyes, but I can’t draw it.
Where the boxing analogy goes astray is that in this case the blue side is allowed to harass the red side before, during and after the (preparations for) the fight, and during the fight itself. You can’t a have a free and fair fight, and a level playing field, if some “blue operatives” can put shackles on the ankles and wrists of the red candidate, or even lock him up while he’s preparing for the bell to ring. If the system allows him to be a candidate, it must also allow him to prepare for his candidacy, in the same way that his opponent can. That is not happening.
US special counsel Jack Smith has announced that the US plans to drag Trump before court after court starting January 2 2024. At least 3 major indictments (will be a dozen) , likely many more, and at my last count, 82 charges (it’s impossible to keep up). Smith can then finger pick any of these charges to put Trump in custody, whenever he feels like it. The judges are almost all “blue”, and so are the jury pools: New York and DC. And this is while he’s supposed to be campaigning!
And also: Trump allegedly already spent $40 million on legal expenses. But what if Trump doesn’t have $40 million? We could argue the $40 million should be spent on his campaign. Look at Imran Khan, guys, who was just convicted to a 3-year prison term in Pakistan on US directives. Like Trump, he is the most popular political candidate in his nation, and they got him on selling necklaces when he was PM.
That is Trump’s future too.
And hence, the end of American democracy.
He doesn’t stand a chance. And if he doesn’t, the system doesn’t, and you don’t. You’re fine as long as you agree with the boot stomping on your neck, and you maybe even enjoy it. But if you don’t, Jack Smith and his ilk – and Obama, Hillary, Adam Schiff, Pelosi, the whole gang, will come with charges and indictments directed at you.
You’re on the verge of the abyss.
If you want to take your chances with what you might find down there, fair enough. But always know that you have a choice.
And that, if somehow they do manage to stage a presidential election in November 2024 as things stand now, it’ll be fake from A to Z. Grow a pair, people, grow a backbone. You’re going to need them.
Tyler Durden
Fri, 08/11/2023 – 22:00 - Seniors Told To Brace For Far Lower Social Security Payment Boost In 2024
Seniors Told To Brace For Far Lower Social Security Payment Boost In 2024
Authored by Tom Ozimek via The Epoch Times,
The 2024 cost-of-living adjustment (COLA) increase for Social Security recipients is likely to be a fraction of what it was in 2023 and a disappointment to many seniors, according to a nonpartisan seniors group, which found that some eight in 10 retirees report they’re still reeling from inflation.
The latest COLA estimate from The Senior Citizens League (SCL) is around 3 percent, which amounts to a roughly $54 increase in the current average monthly benefit check of $1,789.
The estimate could still change, however, with SCL saying it will release its final projection for the 2024 COLA on Sept. 13.
The Social Security Administration (SSA) is expected to announce the actual COLA for 2024 sometime in mid-October.
To arrive at its official calculation, the SSA takes the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) during the third quarter of 2023 (which includes July, August, and September). This figure is then compared to the corresponding data from the previous year.
“The COLA announcement is expected to be October 12, 2023, barring any unforeseen delays from a government shutdown,” Mary Johnson, Social Security and Medicare policy analyst at SCL, said in a statement.
A partial government shutdown in 2013 led to delays in the official COLA announcement.
‘High Prices Continue to Impact Households’
The newest COLA estimate of around 3 percent is roughly in line with the SCL’s earlier projection but far lower than last year’s adjustment of 8.7 percent, which was driven up by multi-decade high inflation.
Annual inflation, which is a key input in the COLA calculations, inched up to 3.2 percent in July from 3 percent in June. While that’s above the Federal Reserve’s target of around 2 percent, the latest inflation reading is well below the 40-year high of 9.1 percent in June 2022.
“In 2023 Social Security recipients received the highest COLA in more than 40 years, but 79 percent of retirees report that lingering high prices continue to impact household budgets significantly,” SCL said in a statement.
In an SCL survey of 1,759 retirees in mid-July, nearly eight in 10 said that essentials like housing, food, and prescription drugs are costing them more today than a year ago.
“High costs have significantly impacted older Americans’ ability to access healthcare,” SCL said in a statement.
Around two-thirds of retirees who participated in the survey said that high prices have forced them to put off dental care, including major work like dentures, bridges, and implants.
Nearly one-third of retirees said they had postponed filling prescriptions or getting medical care.
“Older consumers, especially those with lower retirement incomes remain vulnerable to some of the higher prices that haven’t gone down,” Mary Johnson, Social Security and Medicare policy analyst at SCL, told Yahoo Finance.
Housing costs have risen 7.7 percent over the past year while rent is up 8 percent, the latest inflation data shows, with the estimated 3 percent COLA adjustment a far cry from these figures.
Richard Priedits of Grand Rapids, Michigan, told The Associated Press that he’s noticed higher accommodation costs during his annual vacation.
“We are using credit cards a lot more,” he said as he stopped at the Red Rock Canyon National Conservation Area in Nevada.
“The hotel was probably about $100 more … We filled up the tank this morning. It was like $90.’’
Prices are high back in Michigan as well, he said: “It’s expensive everywhere.’’
Some analysts expect that the pace of inflation in housing will slow down significantly going forward since there’s a lag in rental costs being reflected in the government’s inflation figures.
“Housing disinflation will pick up momentum in the coming months,” Lydia Boussour, senior economist at EY-Parthenon in New York, told Reuters.
Despite the rate of inflation growth slowing from the 9.1 percent peak in June 2022, consumers are still feeling the effects of price pressures.
According to a Bankrate survey in July, 72 percent of Americans don’t feel financially secure. Among them, 63 percent say that high inflation is making it hard for them to be financially comfortable.
Another survey by Bankrate in June found that 68 percent are saving less for unexpected situations because of inflation.
Social Security Fund In Danger
Social Security is facing future challenges due to various factors such as inflation, economic conditions, and lower-than-expected tax revenue.
A recent projection by the nonpartisan Committee for a Responsible Federal Budget (CRFB) estimates that the Social Security retirement fund will be insolvent in 2033, resulting in a 23 percent benefit cut. This means that, in 2033, annual benefits for the average newly retired dual-income couple would be cut by $17,400.
The future of Social Security has become a key political talking point as the 2024 presidential campaign ramps up.
Former President Donald Trump has warned his fellow Republicans not to cut Social Security benefits, while President Joe Biden has vowed to push back against any GOP-led efforts to slash Social Security payments.
CRFB says that any 2024 presidential candidate who “pledges not to touch Social Security is implicitly endorsing a 23 percent across-the-board benefit cut for the 70 million retirees” when the fund runs out of money within 10 years.
Accordingly, there have been bipartisan calls to come up with a fix.
Senate Judiciary Ranking Member Chuck Grassley (R-Iowa) speaks at a hearing with the Senate Judiciary Committee in the Dirksen Senate Office Building in Washington on July 12, 2022. (Anna Moneymaker/Getty Images)
Sen. Chuck Grassley (R-Iowa) said during a July 12 Senate Budget Committee hearing that Social Security must be preserved for future generations.
Mr. Grassley urged Congress to follow the example of President Ronald Reagan and House Speaker Tip O’Neill (D-Mass.) in the 1980s.
“When you have candidates for president on the Republican side and you have a Democratic president in office today who say, ‘We’re not going to touch Social Security,’ how are you going to get things done?” Mr. Grassley asked.
“The only way to reach a deal on Social Security is to follow the Reagan–O’Neill model. That means Congress and the president working in a bipartisan fashion and keeping a chain, a range of options on the table,” Mr. Grassley said, referring to the 1983 agreement that stabilized Social Security for decades.
The Reagan-O’Neill model was basically a combination of increasing payroll taxes and gradually raising the retirement age.
Tyler Durden
Fri, 08/11/2023 – 21:40 - Turkey Views Ukraine Peace Talks As Futile Without Russia, May Host Next Round
Turkey Views Ukraine Peace Talks As Futile Without Russia, May Host Next Round
Following last weekend’s Ukraine peace talks hosted in Jeddah, Saudi Arabia, Turkey now says it might play host to the next round. The Saudi talks didn’t produce much of anything, also given Russia wasn’t even represented, and it was pushed reportedly to get BRICS countries off the fence and more firmly in support of Kiev.
Turkish daily Hurriyet indicated in a fresh report, “it should not be surprising if Turkey becomes the host of the third round.” The report hailed Turkey as a host nation that “can openly and clearly speak to all sides” of the conflict.
More importantly, Turkish officials who were present in Jeddah are reported to have said “results cannot be achieved without involving Russia in the process.”
Thus it appears that if Turkey-hosted talks do materialize, Russia is likely to be represented – also as attempts to restore the Black Sea Grain Initiative have been ongoing – though appear more distant than ever as the Black Sea aspect to the conflict heats up with tit-for-tat bombings of ports and warships, and recently even a Russian fuel tanker.
China too has let it be known that Moscow needs to be directly involved in any serious Ukraine peace talks. China’s involvement in the talks is being widely viewed as a positive. Beijing characterized its participation in the Saudi summit as follows:
China’s attendance shows it supports “substantive efforts” to end the war “through negotiation and diplomacy,” said Victor Gao, a prominent Chinese political analyst with strong links to the ruling Communist Party. “China will listen carefully to any idea or proposal” that is “helpful to the peaceful settlement of the war.”
Kremlin officials have meanwhile blistered over “peace talks” being held without them, saying that it’s tantamount to rivals and enemies ‘gossiping without us’.
As Business Insider summarizes of Kremlin furry:
In comments to The Moscow Times, four former and current Kremlin officials familiar with Russia’s diplomacy were troubled. Ukraine had managed to gather traditional Russian allies at the summit, not just its usual backers in the West, they noted. One official said Ukraine was seeking to cut out Russia and get countries to rally behind its version of how to end the war.
“Kyiv’s goal is to make these countries if not allies, then partners. And then if a general consensus is reached, Ukraine will try to deepen it and raise more sensitive issues to build such a consensus,” the diplomat told the publication.
A former high-ranking Russian diplomat also expressed concern to The Moscow Times about Russia’s isolation, but added that Moscow’s participation in discussions was necessary for ending the conflict. “The fact that we’re not there is naturally unpleasant for us. As is the fact that they’re gossiping without us,” the former official said. He did, however, say that “you cannot solve” the war without Russian input.
The influential nations of China, India, Brazil, and Saudi Arabia have by and large resisted Washington pressure to sign onto the West’s anti-Putin measures and to stop cooperation altogether. At the same time, Moscow has charged the US and UK in particular of actively thwarting peace behind the scenes.
Tyler Durden
Fri, 08/11/2023 – 21:20 - China's Imports Of Saudi Oil Set To Soar Despite Production Cuts
China’s Imports Of Saudi Oil Set To Soar Despite Production Cuts
By Tsvetana Paraskova of OilPrice.com,
China is set to import 40% more crude from Saudi Arabia under term contracts in September despite the unilateral production cut of 1 million barrels per day (bpd) of the world’s top crude oil exporter, traders told Bloomberg on Friday.
Chinese refiners are estimated to receive as much as 52 million barrels of crude oil cargoes next month, compared to about 37 million barrels set to arrive in August, the traders participating in the market told Bloomberg. The significant increase will come from the start of a new supply contract between Saudi oil giant Aramco and Chinese refiner Rongsheng Petrochemical Co.
Under an agreement signed by Aramco and Rongsheng Petrochemical last month, the Saudi firm successfully closed the transaction to buy a 10% stake in the Chinese refiner for $3.4 billion (24.6 billion Chinese yuan). The deal includes the supply of 480,000 bpd of Arabian crude to the largest Chinese integrated refining and chemicals complex, which is owned by Rongsheng affiliate Zhejiang Petroleum and Chemical Co. Ltd (ZPC).
Last week, Saudi Arabia said it would extend its unilateral voluntary cut of 1 million bpd from July and August into September, adding that the cut could be extended or extended and deepened.
The Kingdom’s production for the month of September 2023 will be around 9 million bpd, as it is in July and August.
Despite the cut, Saudi Arabia is expected to supply full crude oil volumes in September under contracts with Asian buyers.
Saudi Aramco raised the official selling price (OSP) for its Arab Light crude oil grade to Asia by $0.30 per barrel for the month of September, to $3.50 above the Oman/Dubai average, the company said earlier this month. Aramco also raised the price of its Arab Light crude to Europe by $2 per barrel, but it left its crude to the United States the same at +$7.25 versus ASCI for the month of September, it said.
Tyler Durden
Fri, 08/11/2023 – 21:00 - Is It Time To Fact-Check Corporate Media's 'Climate Hysteria' Over "Hottest Day Ever"?
Is It Time To Fact-Check Corporate Media’s ‘Climate Hysteria’ Over “Hottest Day Ever”?
Corporate media unleashed a barrage of headlines of climate doom, including “Era of global boiling has arrived” and “hottest month in the history of civilization” and “hottest day ever recorded.” These headlines were published in July, the typical peak of the Northern Hemisphere summer. Some of these wild claims were based on records from four decades ago, even though Earth has been around for billions of years.
CBS News wrote, “Earth sees third straight hottest day on record, though it’s unofficial: ‘Brutally hot.'” It’s crucial to note that CBS hedged itself with “unofficial,” meaning the data hasn’t been verified.
Records grab attention, and clearly, the climate alarmists in corporate media were pushing a ‘climate change’ agenda in a month with the warmest temperatures of the year: geniuses. As for the warmest ever, well, even the National Oceanic and Atmospheric Administration had questions about the climate math (Read: Even NOAA “Runs Away” From ‘Hottest Day Ever’ Claim After Media Hysteria).
NOAA runs away from ‘hottest day’ claim.https://t.co/BQv0VpuE5r pic.twitter.com/IaeOIGj5xE
— Steve Milloy (@JunkScience) July 7, 2023
July was hot, but it’s because of the peak Northern Hemisphere summer. The El Nino weather phenomenon may have contributed to some extra warmth. In terms of temperatures deviating excessively from a 30-year average, well, there’s not much of that, according to Bloomberg data.
If you weren’t able to visualize temperature data, the corporate media had people believing the world was on fire:
So how do climate alarmists know what the precise temperatures were hundreds of thousands of years ago? Well, it might be one giant guess, as environmental attorney Steve Milloy recently explained in a Wall Street Journal opinion piece titled “Hottest Days Ever? Don’t Believe It“:
“One obvious problem with the updated narrative is that there are no satellite data from 125,000 years ago. Calculated estimates of current temperatures can’t be fairly compared with guesses of global temperature from thousands of years ago.”
Remember when climate child warrior Greta spewed this junk science in 2018? Where were the fact-checkers??
But don’t worry. The billionaires funding the climate change movement are still flying in private jets and sailing around the world in mega-yachts while they rid the world of cow farts and force insects into the diets of the masses.
Al Gore
Michael Bloomberg
Climate fear has been a multi-decade scheme…
Here’s Milloy’s report tilted “Media Climate Fact Check.”
Tyler Durden
Fri, 08/11/2023 – 20:40 - 7 Things The New Sergeant Major Of The Army Can Do To Restore Trust In The Military
7 Things The New Sergeant Major Of The Army Can Do To Restore Trust In The Military
Authored by Chase Spears via RealClearDefense.com,
On Friday Michael Weimer became the 17th Sergeant Major of the Army.
He assumed the role in a time of significant strain on the force due to turbulent political factors, a service component seemingly unsure of how to position itself in the post Global War on Terrorism era, and a steady drumbeat of institutional scandals.
Being the Sergeant Major of the Army is a tough role on a good day, but that is not the kind of day in which Weimer enters the office.
In the final days of my military career, I offer some thoughts on how our newest top Sergeant Major can steward the position to help restore a sense of stability to the force.
First, take input from beyond the echo chamber.
In recent years top Army officials have largely disregarded voices from significant portions of the population, claiming a desire to ‘look like America.’ Instead of preserving the trust of all Americans, they merely traded sympathies from one segment of the public to another. One cannot gather an accurate social pulse by excluding the worldview of half the nation. Focus on people and standards, rather than intersectional self-identities.
Second, social media channels are only one avenue for keeping your fingers on force sentiment.
An hour on Twitter does not replace an hour walking the motorpool. Too many among us fell for a deception that all soldiers are on Twitter, and thus every military leader should “get on the bus” with them, and engage at whatever level the most junior user would want. This #miltwitter grouping is plagued by military-affiliated social revolutionaries, and has become a place of disrespect and hostility within the ranks, “a circular firing squad in a cone of silence, where everybody is just taking each other out.” The behavior among this grouping of mostly U.S. Army members degrades military professionalism, and has repeatedly drawn the Army unnecessarily into negative news cycles. Let your online presence be a reflection of your leadership, rather than a place to be pulled from your purpose.
Third, avoid being drawn into social activism in your official capacity.
Social and political movements come and go. Yet too many senior military officials have recently been caught up in them, some even launching informational counter fires against political commentators. It had been understood in the age of Huntingtonian thought that the military stayed out of socio-political fights, opting instead to be more a ‘dignified’ element of governmental structure. However, we have watched as prominent voices among the #miltwitter grouping call for installation commanders to ban channels such as Fox News over its critique of progressive military policy. Many among them label politically inconvenient facts as disinformation, and malign, through tantrums of ad hominem, those who share such data. Army Regulations prohibit such behavior, those rules are rarely enforced when it comes to online expression. Polls show an alarming drop in favorable public sentiment in the military, partly in response to such behavior. No amount of marketing campaigns will reverse that trend. Only a change in actions can bridge the widening divide. Social stability requires a sense of principled permanence from the military. In a storm-tossed sea, be a lighthouse firmly anchored upon a solid foundation.
Fourth, be discriminate with whom you associate.
There has been a trend of senior military officials who give platform, and even preference in future duty assignments, to connections made on social channels. There seems to be a belief that because a particular soldier is loud and fits a popular narrative, that person is a useful influencer to align with. Those self-imagined stars inevitably prove unhelpful. Yet senior-leader endorsements of them remain a matter of record. Train our NCOs to avoid this trap. Perhaps they will gain influence with their officers to do likewise.
Fifth, surround yourself with competent, mature, respectable public affairs counsel.
Anyone who employs an antagonistic approach, and who would advocate for the same with your official channels, is telling you that he or she is unqualified to offer sound counsel. Keep this point at the forefront of your thinking throughout your tenure. Apply it with all your courtiers.
Sixth, define what words like readiness and lethality actually mean.
These, among others, have become nothing more than pieces of value terminology: vague, meaningless words that tie to human emotions to make people feel pressured to agree with whatever idea you tie to them. Senior officials attach them to every imaginable policy change, regardless of the relevant facts. Then the force echoes, because no one wants to be accused of inhibiting readiness or lethality. This practice dumbs the military mind and distracts from actual combat training. Push the Army to produce legitimate definitions, and then discipline the force to use those terms in proper setting and context.
Finally, issue an apology on behalf of the Army for its participation in DoD’s unlawful and unscientific COVID shot requirement, and the particularly heartless way in which the Army prosecuted it.
In that one move, your legacy will be secured as one of the good guys and endear you forever in the hearts of the most principled men and women remaining in uniform.
Your job is a hard one. It may often feel lonely, as responsibility is isolating. Cheap praise will be in constant supply from people who want to be close to power. In contrast, being a steady hand on the wheel is hard, and often not recognized until long after encouragement would have been comforting. We do not need more characters who want to be transformational, but leaders who can rightly be called reformational.
I ask that you use your influence to be a rising tide that elevates everything within your reach and restore dignity to the office you now hold. The force needs it. The nation needs it. I pray you lead well.
* * *
MAJ Chase Spears will soon retire from the U.S. Army after serving a 20 year career in public affairs both as an enlisted soldier and officer. He recently completed a transition fellowship as Chief of Staff to Kansas State House Representative Pat Proctor and is a doctoral candidate at Kansas State University. His opinions are his own and should not be construed to be those of the U.S. Army, Department of Defense, U.S. Government, nor any other affiliated agencies.
Tyler Durden
Fri, 08/11/2023 – 20:20 - Flying Taxi Suffers "Significant Structural Damage" In Crash
Flying Taxi Suffers “Significant Structural Damage” In Crash
Update:
Bloomberg confirmed Vertical Aerospace’s electric vertical take-off and landing (eVTOL) aircraft crashed earlier this week, forcing the startup to suspend test flights until regulators complete an investigation.
* * *
There is a big push to get electric vertical take-off and landing (eVTOL) aircraft off the ground as the Federal Aviation Administration (FAA) established a new framework that prepares the US for flying taxis by 2028. Hundreds of companies are developing eVTOL designs; some are even testing these new high-tech aircraft.
Many tests are going smoothly, but one in the UK did not. Vertical Aerospace’s eVTOL crashed this week, according to an image posted on “X,” formerly known as Twitter, by journalist Charlotte Bailey.
Bailey said the VX4 prototype “crashed from approximately 20ft during an unmanned inflight shutdown as part of its ongoing testing program.” She said the image shows the aircraft suffered “significant structural damage.”
Bailey also penned a note about the eVTOL crash in the aviation blog Pilot Magazine that outlined an inconvenient truth about eVTOLs, similar to electric vehicles:
Fire crews were immediately called to the scene, described as being “concerned” for the safety of the lithium-ion batteries on board. The airfield was briefly shut although has since reopened, with traffic using the runway beyond the south side of the airfield where the crash occurred.
Vertical Aerospace’s eVTOL isn’t the first crash. Bloomberg noted last year that several eVTOL testing accidents occurred with other companies. Some of these accidents were battery fires.
eVTOLs present similar challenges facing EVs on the ground: battery fries.
Tyler Durden
Fri, 08/11/2023 – 20:00 - US Diesel Prices Surge Anticipating A Soft Landing
US Diesel Prices Surge Anticipating A Soft Landing
By John Kemp, Reuters Senior Market Analyst
Prices for diesel and other distillate fuel oils have surged as expectations for a soft landing and an improving economic outlook in the United States threaten to deplete already low inventories even further.
Futures prices for ultra-low sulphur diesel delivered in New York Harbor in September climbed to $135 per barrel on August 9, up from $95 on May 31.
Prices for diesel and other distillate fuel oils have been rising much faster than for crude petroleum, widening margins for refiners.
The crack spread for making diesel from U.S. crude, with both delivered in September 2023, has doubled to $50 per barrel from $25 at the end of April. The crack for making diesel from U.S. crude, with both delivered in December 2023, has climbed to $43 per barrel from $27 at the end of April.
Diesel prices are rising as traders anticipate that shortages will quickly re-emerge if the economy avoids falling into a recession later in 2023.
DEPLETED INVENTORIES
Distillate inventories have not recovered significantly despite the slowdown in manufacturing and freight activity evident since the middle of 2022.
U.S. inventories amounted to 115 million barrels on August 4, up from 111 million a year ago, but otherwise the lowest for the time of year since 2000.
Inventories were 24 million barrels (-17% or -1.31 standard deviations) below the prior ten-year seasonal average on August 4, based on data from the U.S. Energy Information Administration (EIA).
The deficit has widened rather than narrowed over the last five months from 12 million barrels (-9% or -0.73 standard deviations) on March 3 (“Weekly petroleum status report”, EIA, August 9).
The distillate shortage is a worldwide phenomenon, with inventories also 33 million barrels (-8% or -1.11 standard deviations) below the 10-year average in Europe at the end of July.
Singapore stocks were 3 million barrels (-30% or -1.79) below the 10-year average in the course of July, so there is limited scope for resolving the deficits by moving inventories from one region to another.
REFINERY CAPACITY LIMITS
U.S. refineries are operating close to their maximum capacity and are also under pressure to maximise production of gasoline given low inventories of that fuel as well.
U.S. refineries were running at 93.8% of their maximum operable capacity over the seven days ending on August 4, which was just 1.1 percentage points below the average over the last decade.
Technically, refiners might be able to boost crude processing by another 200,000 to 300,000 barrels per day but that would yield no more than an extra 60,000 to 120,000 barrels per day of distillate fuel oil.
In any event, refiners are under pressure to maximise gasoline output as well, where inventories are at the lowest season level since 2015, and 12 million barrels (-5% or -1.23 standard deviations) below the 10-year average.
HEDGE FUNDS ATTRACTEDUntil three months ago, portfolio investors had become increasingly bearish on the outlook for distillate prices, anticipating a recession would cut consumption and cause inventories to accumulate.
By May 2, hedge funds and other money managers had amassed a combined net short position of 27 million barrels in U.S. diesel and European gas oil futures and options (6th percentile for all weeks since 2013).
Since then, however, fund managers have been purchasers in 11 out of the last 13 weeks, purchasing a total of 116 million barrels, as the threat of recession has receded and the risk of fuel shortages has re-emerged.
By August 1, the combined position had been transformed to 89 million barrels net long (73rd percentile), according to records filed with ICE Futures Europe and the U.S. Commodity Futures Trading Commission.
Position-building by hedge fund managers has anticipated, accelerated and amplified the rise in distillate prices and crack spreads and is speeding up the adjustment to the next phase of the cycle.
With much of the position-building concentrated in nearby futures contracts, where both liquidity and volatility are highest, futures contracts have already swung into a steep backwardation.
For U.S. diesel, the futures spread between September and December has moved into a backwardation of $8 per barrel up from a small contango at the start of May.
CANARY IN THE MINE
Diesel often acts as the canary in the mine for broader inflationary pressure in the economy because it is overwhelming consumed by trucking firms, railroads, manufacturers and construction firms.
The negligible accumulation of diesel and other distillate inventories implies the industrial recession may not have been as deep as other indicators such as business surveys have suggested since the middle of 2022.
As a result, the industrial economy is likely to emerge from the current business cycle slowdown with a relatively small amount of spare production capacity and working inventories.
The rapid escalation in diesel prices and hedge fund position building is a warning that capacity constraints and upward pressure on goods prices are likely to re-emerge relatively quickly later in 2023 and in 2024.
Depleted diesel inventories are a sign that if the economy achieves a mid-cycle soft-landing the second phase of the current expansion could prove short and inflationary.
Tyler Durden
Fri, 08/11/2023 – 19:40 - Sam Bankman-Fried Heads Back To Jail After Bail Revoked
Sam Bankman-Fried Heads Back To Jail After Bail Revoked
FTX Founder Sam Bankman-Fried is headed back to jail after the judge in the case revoked his bail over alleged witness intimidation, after he showed a journalist from the NY Times private writings from his ex-girlfriend and business partner, Caroline Ellison, and used a VPN in violation of a previous order not to.
The 31-year-old Bankman-Fried was remanded directly into custody, and will remain in a New York federal detention center until his trial begins on Oct. 2.
Sam Bankman-Fried leaving court on February 16, 2023 (Liz Napolitano/CoinDesk) Late last month the DOJ sought to have SBF’s bail revoked over the leaked diary, and allegedly used the Signal app to obstruct the investigation, as the app auto-deletes content after a period of time.
John Reed Stark, former US SEC’s Office of Internet Enforcement Chief, suggested that Judge Lewis Kaplan could view SBF’s actions as an effort to improperly influence witnesses and choose to either make further modifications to his bail conditions or revoke his bail entirely. Obviously, Kaplan chose the latter.
“The documents are in part personal and intimate. They are personally oriented, not business oriented. There’s something that someone who has been in a relationship would be unlikely to share with anyone except to hurt and frighten the subject,” said Judge Kaplan, adding “In view of the evidence, my conclusion is that there is probable cause to believe that the defendant has attempted to tamper with witnesses at least twice under Section 1512(b).”
Judge Kaplan: He subscribed from the Bahamas and used a VPN as if he were in the Bahamas when he was in Palo Alto and could have watched it on public TV. It shows the mindset. All things considered I am going to revoke bail.
— Inner City Press (@innercitypress) August 11, 2023
https://platform.twitter.com/widgets.js
BREAKING: Sam Bankman-Fried (SBF) Will Go To Jail – Bail Revoked
SBF will go to jail ahead of his October trial on various fraud and conspiracy charges.
More information to come pic.twitter.com/BPFHsquDmO
— Sulaiman Ahmed (@ShaykhSulaiman) August 11, 2023
https://platform.twitter.com/widgets.js
Click into this Twitter thread from Inner City Press for the blow-by-blow:
OK – now US v. Bankman-Fried hearing on possible remand of SBF to jail for intimidating witnesses, including leaking Caroline Ellison’s Google Docs (still sealed) to the NYT. Inner City Press moved to unseal https://t.co/wkt4FqxJGD & will live tweet, thread below pic.twitter.com/OXW9z4JWsj
— Inner City Press (@innercitypress) August 11, 2023
Maybe SBF will hit the gym?
FTX 🏋️♀️ CORPORATE GYM pic.twitter.com/LuuuofFJDA
— Win Smart, CFA (@WinfieldSmart) December 22, 2022
https://platform.twitter.com/widgets.jshttps://platform.twitter.com/widgets.js
Tyler Durden
Fri, 08/11/2023 – 19:30 - Visualizing Market Volatility And Investor Emotions
Visualizing Market Volatility And Investor Emotions
The Fear & Greed Index, created and popularized by CNN, is a powerful tool that captures investor sentiment and confidence levels. It rises when markets are greedy and falls when investors are fearful.
In this infographic sponsored by Fidelity Investments, Visual Capitalist’s Rida Khan and Alejandra Dander compare the Fear & Greed Index with the CBOE Volatility Index (VIX) to see the connection between volatile markets and the impulses of investors.
The Fear & Greed Index
The Fear & Greed Index combines the following indicators to see how much they differ from their averages.
-
Market momentum
-
Stock price strength
-
Stock price breadth
-
Put and call options
-
Junk bond demand
-
Market volatility
-
Safe haven demand
The index gives each indicator equal weighting in calculating a score from 0 to 100, with 100 representing maximum greediness and 0 signaling maximum fear.
CBOE Volatility Index (VIX)
The VIX gauges expected price changes in S&P 500 Index options over the next month, indicating market volatility. It has lower values during bull markets and higher values during bear markets.
When these two indexes are correlated, it becomes evident that lowering market volatility corresponds to heightened investor greed.
Impact of Key Events on Investor Sentiment
This infographic highlights significant points emphasizing the relationship between the two indexes.
September and October 2022
During this period, rising prices, interest rates, and the possibility of a recession led to the highest level of fear observed between May 2022 and May 2023.
February 2023
February brought a breath of fresh air as GDP growth led to the highest levels of investor confidence during the period under study.
March 2023
The collapse of three mid-sized tech-friendly banks triggered a wave of extreme fear. It served as a stark reminder of the inherent vulnerability of financial markets and how quickly panic can spread.
Weathering the Storm
By proactively thinking about their emotional impulses, investors can better navigate volatile conditions, and what’s more, benefit from them.
Fidelity’s new market volatility guide provides invaluable insights, empowering investors to make informed decisions in unpredictable markets while avoiding emotional biases.
Tyler Durden
Fri, 08/11/2023 – 19:20 -
- Zuckerberg Says "Not Holding My Breath" For Proposed Fight With Musk In Italy
Zuckerberg Says “Not Holding My Breath” For Proposed Fight With Musk In Italy
Update (1915ET):
“I’ve been ready to fight since the day Elon challenged me. If he ever agrees on an actual date, you’ll hear it from me. Until then, please assume anything he says has not been agreed on,” Meta CEO Mark Zuckerberg posted on social media platform Threads, responding to Elon Musk’s tweet about a proposed fight in Italy earlier in the day.
Zuck continued, “Not holding my breath for Elon, but I’ll share details on my next fight when I’m ready. When I compete, I want to do it in a way that puts a spotlight on the elite athletes at the top of the game. You do that by working with professional orgs like the UFC or ONE to pull this off well and create a great card.”
* * *
After Elon Musk wrote on “X” — formerly known as Twitter, last Sunday that he will be fighting his arch-nemesis Meta CEO, Mark Zuckerberg, in a mixed martial arts cage match, the internet was excited — then one day later, upset that the billionaire said, “Exact date is still in flux. I’m getting an MRI of my neck & upper back tomorrow.”
Then on Tuesday, hopes of the fight faded when Musk responded to Chris Anderson, host of TED Talks, agreeing that a ‘battle of brains’ in a “cage match-style debate” would be more “noble.”
In a rollercoaster of emotions this week, the internet is cheering once again the fight appears to be on.
On Friday morning, Musk tweeted, “I spent 3 hours in an MRI machine on Monday. Bottom line is that my C5/C6 fusion is solid, so not an issue.” He added, “However, there is a problem with my right shoulder blade rubbing against my ribs, which requires minor surgery. Recovery will only take a few months.”
Musk said the fight will be “managed by my and Zuck’s foundations (not UFC).” And live streaming of the event will be hosted on X and Meta platforms. He said, “Everything in camera frame will be ancient Rome, so nothing modern at all.”
Zuck v Musk fight will be live-streamed on 𝕏.
Who’s ready to witness the most awaited battle ever 👀
🎈Colosseum, Rome pic.twitter.com/86GKwsmXC4— sid (@immasiddtwts) August 7, 2023
https://platform.twitter.com/widgets.js
Musk said he “spoke to the PM of Italy and Minister of Culture. They have agreed on an epic location.”
The fight will be managed by my and Zuck’s foundations (not UFC).
Livestream will be on this platform and Meta. Everything in camera frame will be ancient Rome, so nothing modern at all.
I spoke to the PM of Italy and Minister of Culture. They have agreed on an epic location.
— Elon Musk (@elonmusk) August 11, 2023
https://platform.twitter.com/widgets.js
He also said the fight will “pay respect to the past and present of Italy” and “all proceeds go to veterans.”
And all proceeds go to veterans
— Elon Musk (@elonmusk) August 11, 2023
https://platform.twitter.com/widgets.js
Who could have predicted in 2023 that the billionaire owners of social media companies would agree to fight on the world stage?
Tyler Durden
Fri, 08/11/2023 – 19:15 - From Scandal To Nothingburger
From Scandal To Nothingburger
Authored by J. Peder Zane via RealClearPolitics.com,
The New York Times is incredible. Most journalists find it hard enough just to communicate what they know and how they know it in plain English.
But Times reporters and editors go above and beyond. Who, what, when, where, how, and why are just the starting point. They take on the added challenge of shaping and shifting their language with remarkable skill to create articles that are somehow simultaneously honest and deceitful. That extra layer of attention allows them to claim they report truths that are inconvenient to their progressive causes, while defusing their impact. This is so hard to do that the Times often ignores political stories because spin is even beyond their talents – which achieves the same dampening effect. Because for millions of Americans, it didn’t happen if the Times didn’t report it.
Luke Broadwater and his editors delivered a master class in the art of devious reporting last week in an article that put the lie to President Biden’s repeated claims that he has never even discussed his son Hunter’s foreign business deals.
Broadwater’s Aug. 4 article reported that Hunter’s former business partner, Devon Archer, had told Congress that Joe Biden had “repeatedly allowed himself to be in the presence ‒ either physically or by phone ‒ of business associates of his son’s who were apparently seeking connections and influence inside the United States government” – while Joe served as Barack Obama’s vice president.
The article noted that Archer told Congress “the elder Mr. Biden never actually got involved” in business details, but it also explained that was unnecessary. In a follow-up interview with Tucker Carlson, Broadwater reported, Archer had said that while “there was not business content in these conversations” the purpose was “the idea of signals and influence.” The prize,” Archer explained, “is enough in speaking or hearing or knowing you have that proximity to power.”
I am the vice president of the United States. I’m here. I hear you. Keep paying my son.
Archer directly contradicted Joe Biden’s claims of ignorance regarding his son’s shady dealings, Broadwater reported, saying “he believed it was false for defenders of President Biden to say that he had no knowledge of his son’s business activities. ‘He was aware of Hunter’s business,’ said Mr. Archer, who played golf with both Bidens. ‘He met with Hunter’s business partners.’”
Mr. Archer went further, the Times reported, echoing Hunter’s sales pitch to clients that they were not just getting in business with him but the Biden family. This paid real dividends for at least one entity, the Ukrainian gas company Burisma, which paid Hunter $83,000 a month to serve on its board. Archer “believed Burisma as a company stayed in business through tough times through its associations with influential figures in Washington, and the ‘brand’ that Hunter Biden brought to the board.”
Of course, none of this was news to those who read outside the left’s echo chamber. But given the Times’ position as the ultimate arbiter of truth for the liberal elite, these were startling admissions. Game, set, and match, right? When the Times acknowledges that the president has been lying to the public for years about his direct involvement in an influence peddling scheme based on his high office, talk should turn to impeachment and resignation.
And yet, Broadwater and his editors expertly declawed those damning revelations by casting the evidence of Joe’s corruption as proof of GOP perfidy. This effort hinges on the expectation that most people will not read news stories very closely. Their understanding of an article is largely shaped by the headline and the opening paragraphs, which frame the way readers interpret all that follows. An immensely consequential example of this was the headline on the Politico article published just days before the 2020 election regarding Hunter’s laptop: “Hunter Biden story is Russian disinfo, dozens of former intel officials say.” It did not matter that the article itself was filled with significant caveats, reporting that the officials had not seen the laptop and possessed no proof of Russian involvement. The headline defined the narrative.
Similarly, the headline on Broadwater’s article dismissed Archer’s testimony as a partisan nothingburger: “Key Witness Doesn’t Back Up G.O.P.’s Biggest Allegations on Bidens.”
The first five paragraphs of the article ignore the evidence of the president’s lies and corruption to frame Archer’s testimony as proof of GOP overreach – a common journalistic maneuver known as “Republicans pounce.”
“Republicans who for months have accused President Biden without proof of crime and corruption thought that a former business partner of his son’s could be the key to finally substantiating their most serious allegations…
But the testimony this week of Mr. Archer, a former Yale lacrosse player who has been convicted of federal tax charges, fell well short of that, shooting down a bribery allegation Republicans have long promoted and generally rejecting the idea that the elder Mr. Biden had any material involvement in his son’s business dealings. It was the latest instance of House Republicans promising far more than they could produce in terms of proof of their allegations against the president.”
Thus, the Times sets readers up to believe the key issue is what Archer could not substantiate – reports of bribes, which he may not have been privy to – rather than his eyewitness testimony of the president’s malfeasance. This creates a context in which Archer’s damning revelations are simply part of an epic fail.
While the headline and opening of an article have the most impact on reader perception – psychologists calls this the “primacy effect” – the end of an article is also crucial in constructing a lasting impression of the facts. In his kicker, Broadwater once again works to diminish the facts he has reported by repeating Democrat Rep. Dan Goldman’s question to Archer of whether it was “fair to say that Hunter Biden was selling the illusion of access to his father.” Mr. Archer responded, “Yes.”
While Broadwater ends his piece there, Archer, in fact, equivocated slightly, describing Goldman’s characterization as “almost fair” because Hunter did, in fact, provide direct access to his father through dinners, meet and greets, and phone calls. “Because there ‒ there is ‒ there are touch points and contact points that I can’t deny that happened,” Archer explained, “but nothing of material was discussed. But I can’t go on record saying that there was ‒ there was communications” between Joe and Hunter’s business partners.
The illusion, of course, is that Archer’s testimony vindicated Biden. The evidence shows that nothing could be further from the truth – except, incredibly, in the pages of the New York Times.
Tyler Durden
Fri, 08/11/2023 – 19:00 - Iran Slows Uranium Enrichment As Prisoner Deal Unfolds: Report
Iran Slows Uranium Enrichment As Prisoner Deal Unfolds: Report
Is de-escalation between Iran and the US on the horizon? This week’s reported prisoner swap deal suggests so, but analysts still by and large say this is not a “deal” which somehow will lead to a quick restoration of JCPOA nuclear agreement talks.
But the The Wall Street Journal is citing government sources who believe “Iran has significantly slowed the pace at which it is accumulating near weapons-grade enriched uranium and has diluted some of its stockpile,” according to a Friday report. “The more slowly Tehran accumulates highly enriched uranium, the less potential fissile material it has for nuclear weapons,” the report underscores.
Image via Reuters Just on Thursday the United States and Iran revealed they’ve reached a rare prisoner swap agreement, which is to soon lead to the freeing of five Iranian-American dual citizens, and in exchange Tehran has been guaranteed access to an estimated $6 billion in its own blocked oil revenue. The US is also expected to release an unspecified number of jailed Iranians.
The Americans have yet to be released, but are said to have been moved from Iran’s notorious Evin Prison, and placed into house arrest as a first step.
The WSJ situates this first leg of the prisoner swap deal as intending to lead to future nuclear talks:
If the U.S. detainees are set free, Iran will gain access to billions of dollars of oil revenues trapped in South Korea under U.S. sanctions.
U.S. and European officials have told Iran that if there is de-escalation of tensions over the summer, they would be open to broader talks later this year, including on Iran’s nuclear program.
The unnamed officials describe a slowed process toward near-weapons-grade enrichment:
According to the people, Iran has diluted a small amount of 60% enriched uranium in recent weeks and slowed the rate at which it is accumulating new material. Iran’s stockpile has grown since the 114 kilograms of highly enriched uranium Iran was recorded having in May, but it could easily dilute more of the 60% it has produced to get back to that level. It isn’t yet clear if Tehran plans to do that.
Iran was adding just short of 9 kilograms of 60% to its stockpile on average between February and May.
But with the White House’s Ukraine policy coming under growing public criticism, and increasingly skeptical GOP leadership in the House, President Biden needs a foreign policy “win” going into 2024.
So far the swap deal appears as follows… the US unfreezes $6 billion in Iranian oil assets, Americans can come home, and Biden can claim to have overseen reduced uranium enrichment by Tehran on the campaign trail.
By making Iran’s ability to buy food and medicine part of a hostage deal, they’re admitting that sanctions don’t really have a “humanitarian exemption.”
Saying that “money is fungible” is the beginning of a justification. https://t.co/8whGdCCmm6
— Matthew Petti (@matthewpetti.bsky.social) (@matthew_petti) August 11, 2023
https://platform.twitter.com/widgets.js
But it remains that persistent bellicose rhetoric traded between the Iranians and Israelis is likely only to incentivize the Islamic Republic to keep its ‘nuclear program option’ on the table.
Tyler Durden
Fri, 08/11/2023 – 18:40 - OPEC+ Oil Supply Plunges By 1.2 Million Bpd As Saudi Arabia Cuts Output
OPEC+ Oil Supply Plunges By 1.2 Million Bpd As Saudi Arabia Cuts Output
By Tsvetana Paraskova of Oilprice.com
Oil supply from the OPEC+ group dipped in July by 1.2 million barrels per day (bpd) to 50.7 million bpd, the lowest level in nearly two years as Saudi Arabia began its unilateral production cut of 1 million bpd, the International Energy Agency (IEA) said on Friday.
The alliance’s oil production was down by more than 2 million bpd from the start of the year. Over the same period, oil producers outside the OPEC+ group increased their combined production by 1.6 million bpd to 50.2 million bpd. For the rest of the year, the non-OPEC+ production gains are expected to be limited, the IEA said.
OPEC alone saw its crude oil production from all its member states fall by 836,000 bpd to 27.31 million bpd in July, due to a 968,000 bpd decline in Saudi output as the Kingdom nearly delivered its promised 1-million-bpd cut last month. Saudi Arabia, leader of the cartel and the OPEC+ agreement, saw its crude oil production slump by 968,000 bpd from June to average 9.021 million bpd in July, per OPEC’s secondary sources in its latest monthly report. Due to Saudi Arabia’s cut, the Kingdom’s crude oil production has now fallen below the production of Russia, the key partner of OPEC in the OPEC+ alliance.
Global oil supply plunged by 910,000 bpd to 100.9 million bpd in July, as the Saudi cut more than offset a 310,000 bpd increase in non-OPEC+ supply to 50.2 million bpd last month, the IEA’s estimates showed.
This year, global oil output is set to rise by 1.5 million bpd to a record 101.5 million bpd, with the U.S. driving gains of 1.9 million bpd from non-OPEC+ producers. Next year, non-OPEC+ supply is also set to dominate world supply growth, and is expected to increase by 1.3 million bpd while OPEC+ could add just 160,000 bpd, the agency said.
Tyler Durden
Fri, 08/11/2023 – 18:20
Digest powered by RSS Digest
Saving...
