Today’s News 13th February 2024

• A Small Arizona Town Prepares To Fight State Over Illegal Immigration
  A Small Arizona Town Prepares To Fight State Over Illegal Immigration

  Authored by Allan Stein via The Epoch Times (emphasis ours),

  As a small rural town in Arizona, Springerville has what it needs in terms of material amenities for its residents. There’s a general store, a small regional hospital, a supermarket, retail shops, hotels and restaurants, and parks for recreational vehicles during the tourist season.

  

  The town’s closest neighbor is Eagar (population 4,800). The nearest city is Show Low (population 11,732), about 50 miles southwest across vast golden hills and open range.

  “The one thing I pride myself on with this little community is we band together,” Springerville’s Mayor Shelly Reidhead told The Epoch Times. “We love each other, and we take care of each other.

  “I hope that holds when it hits the fan.”

  Although Springerville sits 300 miles from the U.S.–Mexico border, the illegal immigration crisis almost landed on its doorstep last year.

  This year, Ms. Reidhead fears another showdown with her state officials if the border crisis grows much worse.

  “I’ve been dreading 2024 because I know what we’re in for [with the presidential election]. It’s not going to be a pretty year.”

  In May 2023, Arizona Gov. Katie Hobbs and her staff pushed the idea of busing illegal aliens to Springerville and housing them in the 189,000-square-foot dome stadium, the Round Valley Ensphere.

  

  When residents found out, they were furious and prepared to take action.

  Some wanted to block the buses carrying the illegal immigrants at the town line with chain barriers—and come armed if necessary, according to residents who didn’t want their names used.

  It was a tense situation, they said. Fortunately, the confrontation never came about after the town told the governor’s office to get lost.

  The stadium looks like a giant flying saucer landed in the middle of horse and cattle country. It’s a massive wooden-dome stadium that can seat 5,500 spectators in bleachers away from the elements.

  Due to its sheer size, the futuristic-looking enclosure has multiple uses. Years ago, it provided temporary shelter for displaced wildfire victims.

  The Arizona governor eyed it up to temporarily place illegal immigrants.

  But, the town moved against it.

  On July 19, 2023, Springerville’s town council passed a binding resolution, signed by the mayor, that said “no” to the town footing the bill for immigrants—illegal or legal.

  

  “The town is a small municipality with limited buildings, space, and material resources to accept, house, maintain, or support migrants,” the two-page resolution reads.

  But, legally, it could take more than a binding resolution to prevent the state from dropping off busloads of illegal aliens and creating problems for the town, Ms. Reidhead said.

  Located in Apache County, Springerville ranks among the state’s poorest communities, with 1,730 residents and a median income of $46,311 in 2022.

  Almost 12 percent live below the poverty line.

  “You’re in cowboy country here,” said Ms. Reidhead, who takes a hard line over illegal immigration and protecting her community’s traditional way of life.

  The Epoch Times has reached out to Ms. Hobbs’s office, which has yet to respond.

  Ms. Reidhead and other town officials have been keeping a close eye on the southern border since President Joe Biden took office.

  “What [the Biden administration] wants is a broken, chaotic country,” Ms. Reidhead said. “They’re doing a good job.”

  “We can’t even feed the people in the United States now. How are we going to feed another 8 million people?”

  According to U.S. Customs and Border Protection (CBP) data, border agents apprehended more than 2.4 million illegal aliens at the southern border during the fiscal year spanning October 2022 through September 2023. Another 189,402 were encountered along the northern U.S. border.

  CBP has already reported nearly 989,000 illegal immigrants during the first quarter of fiscal 2024.

  

  Officials say that illegal border crossings have begun to shift away from the embattled 1,254-mile southern border in Texas and to Arizona and California as the Lone State state battles with the Biden administration over border security in Texas.

  Texas Gov. Gregg Abbott has so far prevailed in his state’s efforts to increase border security, but he’s being sued by the Biden administration over several measures, including concertina wire, river buoys, and new state legislation.

  In Arizona

  In December 2023, CBP temporarily closed Arizona’s Lukeville shared port of entry with Mexico due to a surge in illegal crossings.

  Later that month, Ms. Hobbs ordered the deployment of Arizona’s National Guard to assist Border Patrol agents in Lukeville with processing foreign nationals who entered the country illegally.

  The governor has deflected criticism over her handling of the border crisis in Arizona onto the federal government.

  “Yet again, the federal government is refusing to do its job to secure our border and keep our communities safe,” Ms. Hobbs said in a Dec. 15 statement announcing the deployment of National Guardsmen.

  “With this executive order, I am taking action where the federal government won’t. But we can’t stand alone; Arizona needs resources and manpower to reopen the Lukeville crossing, manage the flow of migrants, and maintain a secure, orderly, and humane border,” she said.

  “Despite continued requests for assistance, the Biden administration has refused to deliver desperately needed resources to Arizona’s border.”

  Read more here…

  Tyler Durden
  Mon, 02/12/2024 – 23:55

• John Fetterman Is Not The Progressive Politician Everyone Thought He Was
  John Fetterman Is Not The Progressive Politician Everyone Thought He Was

  Authored by Beth Brelje via The Epoch Times (emphasis ours),

  Financial backing from progressive Democrats helped John Fetterman flip a long-held Republican U.S. Senate seat in Pennsylvania in 2022.

  

  During his first two years as a senator, Mr. Fetterman has often surprised progressives and conservatives alike with his outspoken positions that have challenged party dogma.

  Mr. Fetterman has voted against his party five times. He was the only Democrat to vote no on the confirmation of Monica Bertagnolli to direct the National Institutes of Health.

  He was one of four Democrats who voted no to increase the debt ceiling.

  And he agreed with Republicans on a resolution to disapprove of a rule written by the Department of Commerce relating to President Joe Biden’s June 2022 emergency and authorization for temporary extensions of time and duty-free importation of solar cells and modules from southeast Asia.

  The guy on the Senate floor in the Carhartt hoodie is still very much a Democrat: pro-abortion, pro-recreational marijuana, pro-criminal justice reform, and a strong supporter of unions.

  At the U.S. Capitol, Mr. Fetterman told The Epoch Times that he has not changed positions, but things are happening that highlight them—most notably, his support for Israel and acknowledging the problem of illegal crossings at the southern border.

  “Sometimes people may have the wrong impressions, whether from the commercials and all that stuff,“ Mr. Fetterman said. ”I’ve always really had those kinds of positions, so it’s not like a shock. So, nothing’s changed, perhaps maybe the perception.”

  He also said he’s never been a progressive. He described himself as a regular Democrat who has made the case that Democrats come with a variety of views.

  G. Terry Madonna, senior fellow in residence for political affairs at Millersville University, has watched Mr. Fetterman’s political career from the beginning and said it is not uncommon for politicians to change their views.

  “He’s not a typical liberal Democrat, which most of us thought he was during the course of his campaign, and the fact of the matter is, he’s evolving,” Mr. Madonna told The Epoch Times.

  But he’s not turning into a conservative. “I’ve not seen any evidence, except for those two issues, that he’s moved away from the liberal mantra, but there have been growing questions about him because of these two big issues that he’s come out with [views] very different from liberal Democrats,” Mr. Madonna said.

  

  Mayor of Braddock

  Mr. Fetterman has often been undaunted by public opinion and sometimes the rules.

  He was the first Pennsylvania mayor to perform a same sex marriage in 2013, despite that a state law prohibited it.

  One January night in 2013, Mr. Fetterman, then the mayor of Braddock, thought he heard gunshots. He ran outside, got in his truck, and chased, confronted, and detained a black man with a shotgun that he had in his truck. The man had no weapon. He was out jogging.

  “I believe I did the right thing, but I may have broken the law in the course of it, and I’m certainly not above the law,” Mr. Fetterman told a WTAE TV reporter at the time. Nothing came of the incident legally, but it does come up at election time.

  Earning $150 a month, Mr. Fetterman worked as the part-time mayor for the impoverished borough from 2006 to 2019. It was his only job for those 13 years. Once a thriving steel town with 20,000 people, Braddock had dwindled to 2,300 by the time Mr. Fetterman became mayor. In 2021, only 1,700 residents remained, including Mr. Fetterman, his wife, Gisele, and their three children.

  

  Then, like now, Mr. Fetterman’s style and blunt comments attracted media coverage and opportunities.

  The small-town mayor was invited to speak in Colorado at the Aspen Institute Cultural Diplomacy Forum in 2009. He also spoke at the Aspen Ideas Festival in 2010, had a feature written about him in The New York Times, and gave a Ted Talk in 2013 about how he was revitalizing Braddock with community gardens, teaching youth work skills, creating housing for kids aging out of foster care, and building playgrounds on abandoned lots.

  On the Issues

  Many issues in Washington are boiled down to black-and-white positions, but immigration is a gray area for Mr. Fetterman, he said, as he acknowledges the complexity of the issue.

  During his failed 2015 campaign for Senate, he ran an advertisement highlighting his wife, who is from Brazil. She entered the United States illegally at age 9 with her mother.

  “I was asked: ‘Your wife’s family broke the law. What do you think of that?’ And I said: ‘Well, I’m so grateful that they did. Because if they didn’t have the courage to take that step, I wouldn’t have the three beautiful children that I have today,’” Mr. Fetterman said in the advertisement. “We as a society take a step backwards if we do anything but embrace the people that are here, and create effective laws and pass the citizenship for people coming into our country.”

  Read more here…

  Tyler Durden
  Mon, 02/12/2024 – 23:00

• Fani Willis Disqualification Is "Possible," Judge Says
  Fani Willis Disqualification Is “Possible,” Judge Says

  By Catherine Yang of The Epoch Times

  Fulton County Superior Judge Scott McAfee confirmed on Feb. 12 that the hearing about misconduct claims against Fulton County District Attorney Fani Willis and special prosecutor Nathan Wade “must occur” on Feb. 15 and could lead to disqualification.

  

  Ms. Willis is presiding over the high-profile racketeering case that names former President Donald Trump and 14 others.

  “I think it’s clear that disqualification can occur if evidence is produced presenting a conflict or the appearance of one, and the filings submitted on this issue so far have presented a conflict of interest that can’t be resolved as a matter of law,” Judge McAfee said.

  Ms. Willis will be called as the first witness, the judge said after hearing some of the prosecutors’ arguments. “I don’t see how quash can be imposed here,” he said, referring to the district attorney’s effort to dismiss the subpoenas.

  On Feb. 12, the judge held a hearing regarding the district attorney’s motions to quash the nine subpoenas issued on Ms. Willis herself and her staffers, ahead of this week’s anticipated hearing where the district attorney will have to respond to allegations of an “improper” relationship.

  On Jan. 8, defendant Michael Roman filed a lengthy motion that alleged Ms. Willis was in a personal relationship with Mr. Wade, an attorney with a private law firm whom she had contracted to take a lead position in the racketeering case. He alleged that Mr. Wade took Ms. Willis on “lavish” vacations including a cruise, and that she financially benefited from the situation.

  He also made several other allegations including that Mr. Wade wasn’t qualified for the position and that Ms. Willis used funds improperly, which the judge indicated would not be the focus of the Jan. 15 evidentiary hearing. After the huge claims were made, several codefendants filed their own motions to disqualify Ms. Willis based on “prejudicial” actions.

  “Specifically looking at defendant Roman’s motion, it alleged a personal relationship that resulted in a financial benefit to the district attorney that is no longer a matter of speculation,” the judge said. “The state has admitted a relationship existed, and so what remains to be proven is the existence and extent of any financial benefit, again if there even was one.”

  Judge McAfee said the claims of prejudice were based on public statements—a speech Ms. Willis gave at an Atlanta church where she invoked God and said her critics were playing the “race card”—and did not warrant a hearing meant to produce evidence for the record. Other issues such as Mr. Wade’s resume also did not warrant an evidentiary hearing, the judge said.

  The district attorney had filed a motion arguing that no evidentiary hearing was necessary because no conflict of interest had occurred, but the judge rejected the argument.

  “Because I think it’s possible that the facts alleged by the defendant could result in disqualification, I think an evidentiary hearing must occur to establish a record on those core allegations,” Judge McAfee said.

  He said the hearing will focus on “whether a relationship existed, whether that relationship was romantic or not in nature, when it formed, and whether it continues.”

  “I think that’s only relevant because it’s in relation to the question of the extent of any personal benefit conveyed as a result of the relationship,” Judge McAfee said.

  Mr. Roman’s attorney, Ashleigh Merchant, alleged that the relationship began as early as 2019 and the couple cohabited at one point, and claimed in a court filing that she could produce witnesses to testify to these allegations.

  Mr. Wade had submitted a sworn affidavit stating that he had met Ms. Willis in 2019 but a “personal relationship” began only in 2022, and that Ms. Willis split expenses with him so there was no financial benefit.

  Anna Cross, another one of the prosecutors contracted by the district attorney for the case, said during the Feb. 12 hearing that none of the subpoenaed witnesses have anything to say that contradicts Mr. Wade’s affidavit.

  Continue reading here.

  Tyler Durden
  Mon, 02/12/2024 – 22:05

• House GOP Seeks Biden-Hur Dementia Transcripts, Recordings
  House GOP Seeks Biden-Hur Dementia Transcripts, Recordings

  Three House committees have asked the DOJ to turn over transcripts and recordings of President Joe Biden’s interviews with special counsel Robert Hur, following an explosive report that concluded Biden is too cognitively impaired to be charged with a crime.

  

  The request, sent by the three GOP leaders to Attorney General Merrick Garland, echoes many Republican concerns that Biden is receiving more favorable treatment than Donald Trump for the same crime.

  “The Committee on the Judiciary requires these documents for its ongoing oversight of the Department’s commitment to impartial justice and its handling of the investigation and prosecution of President Biden’s presumptive opponent, Donald J. Trump, in the November 2024 presidential election,” wrote the chairs of the three committees – House Oversight and Accountability Chair James Comer (R-KY), House Judiciary Chair Jim Jordan (R-OH), and House Ways and Means Chair Jason Smith (R-MO), who are demanding the information no later than February 19.

  

  “Although Mr. Hur reasoned that President Biden’s presentation ‘as a sympathetic, well-meaning, elderly man with a poor memory’ who “did not remember when he was vice president’ or ‘when his son Beau died’ posed challenges to proving the President’s guilt beyond a reasonable doubt, the report concluded that the Department’s principles of prosecution weighed against prosecution because the Department has not prosecuted ‘a former president or vice president for mishandling classified documents from his own administration,” the letter continues.

  “The one ‘exception’ to the Department’s principles of prosecution, as Mr. Hur noted, ‘is former President Trump.’ This speaks volumes about the Department’s commitment to evenhanded justice.”

  Other GOP lawmakers have said more of the same.

  

  “Among the most disturbing parts of this report is the Special Counsel’s justification for not recommending charges: namely that the President’s memory had such ‘significant limitations’ that he could not convince a jury that the President held a ‘mental state of willfulness’ that a serious felony requires,” said House Speaker Mike Johnson (R-LA), Majority Leader Steve Scalise (R-LA), Majority Whip Tom Emmer (R-MN) and conference Chair Elise Stefanik (R-NY) in a letter sent last week in response to the report.

  “A man too incapable of being held accountable for mishandling classified information is certainly unfit for the Oval Office.”

  Tyler Durden
  Mon, 02/12/2024 – 21:30

• "Vladimir Putin Will Not Lose This War": Sen. Ron Johnson And Elon Musk Discuss Facing Reality In Ukraine
  “Vladimir Putin Will Not Lose This War”: Sen. Ron Johnson And Elon Musk Discuss Facing Reality In Ukraine

  Update (2100ET): During today’s Twitter Spaces, Elon Musk and Sen. Ron Johnson (R-WI) discussed their opposition to the ongoing war in Ukraine.

  

  “We all have to understand that Vladimir Putin will not lose this war… Losing to Vladimir Putin is existential to Vladimir Putin. Russia has four times the population and a much larger industrial base,” said Johnson, adding “Russia can produce 4.5 million artillery shells per year. We’re not even up to 1 million per year. The average age of a Ukrainian soldier right now is 43 years old.”

  “If you’re worried about the people of Ukraine, you have to understand that probably 100,000 of their soldiers have been killed,” Johnson continued, adding “The only way this war ends is in a settlement, and every day that the war goes on, more Ukrainians and more Russian conscripts die, more civilians die, and more of Ukraine gets destroyed. Again, sending $60 billion as added fuel to the flames of a bloody stalemate makes no sense.”

  Musk echoed Johnson’s sentiment, saying “As you said, there’s no way Putin is going to lose. If he backs off, he will be assassinated. And for those who want regime change in Russia, they should think about who is the person that could take out Putin?”

  

  He also defended his record – saying “My companies have probably done more to undermine Russia than anyone. Space X has taken away two-thirds of the Russian launch business. Starlink has overwhelmingly helped Ukraine.”

  Listen:

  🚨BREAKING: Elon Musk and Senator Ron Johnson discuss their opposition to escalating the ongoing bloody stalemate in the War in Ukraine.

  Instead, advocating for peace negotiations to bring an end to the loss of lives and the destruction of Ukraine.@elonmusk: “My companies have… pic.twitter.com/89O09FkYGM

  — KanekoaTheGreat (@KanekoaTheGreat) February 13, 2024

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

  *  *  *

  On Monday, Sen. J.D. Vance (R-OH) shared a memo sent to his Republican colleagues in Congress which outlines an “impeachment time bomb” hidden in the text of the Senate’s Ukraine funding bill in case Trump wins the November election.

  

  According to the memo;

  President Trump has said, in regard to the war in Ukraine, “We got to get that war settled and I’ll get it settled.” He has stated that he would resolve the war in 24 hours.

  The bill includes $1.6 billion for foreign military financing in Ukraine, and $13.7 billion for the Ukraine Security Assistance Initiative. These funds expire on September 30, 2025 — nearly a year into the possible second term of President Trump. These are the exact same accounts President Trump was impeached for pausing in December 2019.

  …

  If President Trump were to withdraw from or pause financial support for the war in Ukraine in order to bring the conflict to a peaceful conclusion, “over the objections of career experts,” it would amount to the same fake violation of budget law from the first impeachment, under markedly similar facts and circumstances.”

  According to Vance, Democrats “would seize on the opportunity to impeach him once again.” 

  I just sent the below memo to every one of my Republican colleagues in Congress.

  Buried in the bill’s text is an impeachment time bomb for the next Trump presidency if he tries to stop funding the war in Ukraine.

  We must vote against this disastrous bill. pic.twitter.com/uKqet9s0xd

  — J.D. Vance (@JDVance1) February 12, 2024

  https://platform.twitter.com/widgets.js“This is insane,” replied Elon Musk – who then arranged for a ‘spaces’ discussion on X which will include Sens. Mike Lee (R-UT), Vance, along with Vivek Ramaswamy and David Sacks, at 6PM E.T.

  You can listen in by clicking into the post below:

  What’s up with this spending bill? https://t.co/nlaY8JQlTx

  — Elon Musk (@elonmusk) February 12, 2024

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

   

  ZeroPointNow
  Mon, 02/12/2024 – 21:01

• Houston Church Shooter Identified As Transgender With A Long Criminal History
  Houston Church Shooter Identified As Transgender With A Long Criminal History

  Authored by Tom Ozimek via The Epoch Times,

  A shooter who was killed by off-duty police officers after opening fire at a Houston megachurch while seemingly using a 7-year-old child as a human shield has been identified as a woman named Genesse Moreno, who police said also identified as a man named Jeffrey Escalante.

  

  Police said a woman in her early 30s entered Lakewood Church on Feb. 11 wearing a trench coat and backpack, armed with a long rifle, and began firing.

  Before managing to kill anyone, the shooter was taken down by two off-duty officers, one a Texas Alcoholic Beverage Commission agent and the other a Houston police officer, according to Houston Police Chief Troy Finner.

  “I want to commend those officers. She had a long gun, and it could’ve been a lot worse, but they stepped up and they did their job,” Chief Finner said during a media briefing on the afternoon of Feb. 11.

  

  Emergency vehicles line the feeder road outside Lakewood Church during a reported active shooter event in Houston on Feb. 11, 2024. (Kirk Sides/Houston Chronicle via AP)

  An affidavit seeking a search warrant for a home in Conroe, Texas, about 40 miles north of Houston, identifies the shooter as 36-year-old Genesse Ivonne Moreno, according to the Associated Press. The warrant was released by the Montgomery County district attorney’s office.

  Records cited by the Houston Chronicle and other media outlets, and which are circulating online, show that the shooter also identified as Jeffrey Escalante, who had a long criminal history, including assault, drug, and weapons charges.

  “A lengthy criminal history. A woman who thinks she is a man,” Don Hooper, a writer at the Houston Conservative Forum, wrote in a post on X, formerly known as Twitter, that featured a series of the shooter’s mugshots over the years.

  “My information is biological female per the medical examiner,” he wrote in an earlier post. “They were looking at the body when brought in.”

  Chris Hassig, commander of the Houston Police Department homicide division, said during a media briefing on Feb. 12 that investigators have identified the shooter as a 36-year-old Hispanic female named Genesse Moreno.

  “There are some discrepancies [regarding the individual’s gender],” he said. “We do have reports she used multiple aliases, including Jeffrey Escalante. So she utilized both male and female names.”

  However, Mr. Hassig said the investigation indicates that “she has been identified this entire time as female.”

  He noted that the gun used by the shooter had a sticker with the word “Palestine” on it.

  Child as Human Shield?

  At the Feb. 12 briefing, Mr. Hassig said two people were injured in the incident, including the child who accompanied the shooter.

  The other person injured was a 57-year-old man, who was shot in the hip or leg.

  Mr. Hassig said the 7-year-old child who accompanied Ms. Moreno was struck in the head in the exchange of gunfire and remains in critical condition.

  He said Ms. Moreno pulled up to the church in a vehicle with the child inside and then entered the building with the little boy and, after entering, “she immediately starts firing inside of the hallway.”

  The two officers returned fire.

  “Multiple shots are exchanged by all three,” Mr. Hassig said. “She eventually falls to the ground; the 7-year-old child falls to the ground as well from gunfire. One gunshot wound to the head.”

  A Montgomery County District Attorney’s Office spokesperson was cited by the Houston Chronicle as saying on Feb. 12 that the 7-year-old was not expected to survive.

  While it’s unclear who shot the child, Chief Finner blamed the shooter.

  “That female, that suspect put that baby in danger,” he said during the Feb. 11 briefing.

  “I’m going to put that blame on her.”

  Lakewood Church, which seats roughly 16,000 people, is led by pastor Joel Osteen.

  

  Pastor Joel Osteen speaks to the media after a shooting at Lakewood Church in Houston on Feb. 11, 2024, in a still from video footage. (KTRK-TV ABC13 via AP)

  In a statement posted on X, Mr. Osteen praised law enforcement for acting swiftly to neutralize the threat and said that he was “devastated” by the shooting.

  “In the face of such darkness, we must hold onto our faith and remember evil will not prevail,” he said.

  Texas Gov. Greg Abbott issued a statement calling the shooting a “heinous act” and praising law enforcement for acting “quickly to respond to this tragedy.”

  “Our hearts are with those impacted by today’s tragic shooting and the entire Lakewood Church community in Houston,” Mr. Abbott wrote.

  A motive for the attack remains unclear.

  Ms. Moreno’s posts on social media show a history of leftist politics, according to independent journalist Andy Ngo.

  Alan Guity, a member of Lakewood Church since 1998, said he heard gunshots while resting inside the church’s sanctuary as his mother was working as an usher.

  He told the Associated Press that he ran to his mother and that they both lay flat on the floor as the gunfire continued.

  Mr. Guity told the outlet that he and his mother prayed and stayed on the floor for about five minutes until they were told it was safe to leave the building. He said that as he exited the building, he could see people crying and looking for loved ones.

  Tyler Durden
  Mon, 02/12/2024 – 20:55

• Invasion Spreads To Unfenced US Northern Border Amid "Record-Breaking Surge" Of Illegal Entries Detected
  Invasion Spreads To Unfenced US Northern Border Amid “Record-Breaking Surge” Of Illegal Entries Detected

  As the Biden administration and “shadowy network of secretive nonprofits” facilitate the greatest migration invasion this nation has ever seen on the southern border, new concerns are mounting that illegals are finding alternative routes into the country via the unfenced northern border with Canada. 

  New US Customs and Border Protection data shows more than 12,000 migrants were apprehended on the northern border last year, more than double the number from the year before of 3,578. 

  The New York Post first reported that most illegal crossings (about 70%) have occurred along the 295-mile Swanton Sector, including upstate New York, New Hampshire, and Vermont. 

  Earlier this month, Robert Garcia, the chief patrol agent for the northern border sector, posted on X:

  Since October 1, 2023, Swanton Sector Border Patrol Agents have apprehended more than 3,100 subjects from 55 countries (more than Fiscal Years 2022, 21, 20 & 19 combined). Photo: An early morning apprehension of 4 adult males from Bangladesh on February 1, near Mooers, New York.

  Since October 1, 2023, Swanton Sector Border Patrol Agents have apprehended more than 3,100 subjects from 55 countries (more than Fiscal Years 2022, 21, 20 & 19 combined). Photo: An early morning apprehension of 4 adult males from Bangladesh on February 1, near Mooers, New York. pic.twitter.com/nAf5KG467R

  — Chief Patrol Agent Robert Garcia (@USBPChiefSWB) February 2, 2024

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  Garcia then warned: 

  “The record-breaking surge of illegal entries from Canada continues in Swanton Sector.” 

  The record-breaking surge of illegal entries from Canada continues in Swanton Sector. A citizen’s report in Champlain, NY, led to the arrest of 10 Bangladesh citizens. Agents rely on the vigilance of our community.
  If you see something, say something! Call 1-800-689-3362. pic.twitter.com/eSTMV8HwOu

  — Chief Patrol Agent Robert Garcia (@USBPChiefSWB) February 8, 2024

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  Experts told NYPost, “Migrants who make it to Mexico and can afford a $350 one-way plane ticket from Mexico City or Cancun to Montreal or Toronto are making their way south to cross the northern US border — where they are less likely to be turned away than those who cross the southern border.” 

  On the northern border, migrants take advantage of border crossings without walls or fences. They’re simply just walking right into the US. 

  

  New York State Assemblyman Billy Jones, who represents Clinton County, recently warned: “The northern border has pretty much been ignored.” 

  The tick-up in migrant encounters on the northern border first came to our attention nearly one year ago. We penned this note last May: “Northern US Border Encounters With Illegals More Than Double In 7 Months.”

  And just days ago, a migrant smuggling ring in New Jersey was uncovered that bussed “dozens if not hundreds” of migrants into the US through the unfenced border between Quebec and Vermont. 

  

  Earlier this month, New York Republican leaders in the state Legislature urged Gov. Kathy Hochul to deploy the state’s National Guard on its northern border. 

  “More than 8 million border encounters have occurred since President Biden took office. In 2023, over 2.5 million migrants entered the country through the southern border. In December alone, 302,034 encounters were reported by US Customs and Border Protection. On New York’s Northern Border, 91,640 illegal crossings were reported in the past year.

  “Immigration reform is a matter that must be dealt with on the Federal level. However, we hope you agree that the states’ sovereign right to protect its citizens and its communities must be valued above the actions of federal authorities. For this reason, we urge you to deploy the National Guard immediately to assist the State of Texas and New York Canadian border in efforts to stop the flow of migrants coming into our country illegally,” the letter stated, signed by state Senate Minority Leader Rob Ortt and Assembly Minority Leader William Barclay.

  The colossal mess the Biden administration has created by willfully ignoring the border invasion and refusing any executive action is only worsening as the crisis is now spreading to the northern border. 

  Tyler Durden
  Mon, 02/12/2024 – 20:20

• Best And Worst Metro Areas For First-Time Buyers In 2024
  Best And Worst Metro Areas For First-Time Buyers In 2024

  Submitted by Sam Bourgi of CreditNews

  

  The past few years have been one of the worst periods for first-time homebuyers in America’s history.

  Record home prices, chronically low inventory, 22-year-high mortgage rates, and bidding wars with cash- and equity-flush buyers have locked many younger buyers out of the housing market.

  According to the National Association of Realtors (NAR), first-time homebuyers made up just 32% of all transactions last year—the fourth lowest share seen in more than 40 years.

  While would-be homeowners bide their time, Creditnews Research looked at America’s 50 largest metro areas to uncover housing markets that are still attractive for first-time buyers.

  Our ranking shows how easy it is for residents in each metro area to buy a starter home—defined as homes with a sale value in the 5th to 35th percentile range purchased with a mortgage.

  Primary factors in our scoring model include mortgage affordability, market access, and bargaining power. We also looked at macro indicators, such as employment growth and livability.

  Combined, the weighted scoring model provides a holistic snapshot of America’s largest metro areas that offer first-time buyers the best bang for their buck.

  Some of the results may surprise you.

  Best metro areas for first-time buyers

  Based on Creditnews Research’s scoring model, the top metro areas for first-time buyers are:

  1. Pittsburgh: America’s steel town is an excellent place for first-time homebuyers because it offers the best affordability for a starter home. No other metro area in our ranking offers a lower mortgage payment relative to income. Pittsburgh also ranks second in terms of listing price cuts—giving buyers strong bargaining power when house hunting. Pittsburgh’s labor market isn’t exactly booming (it ranks 31st for employment growth), but its job growth is still positive. In this remote work age, the Pittsburgh metro area, made up of five counties, can be an attractive place to live, even for families who aren’t employed in local manufacturing.
  2. Austin-Round Rock: Austin has experienced a population explosion in recent years, making homes at the higher end of the spectrum hard to afford for first-time buyers. But those shopping for starter homes can still find a decent value. The Austin metro area, which includes five counties, ranks first for market access—with its home listings staying on the market the longest. Austin is also a top-10 city for employment growth and is one of the most livable cities in America when it comes to amenities, culture, and healthcare. The trade-off is mortgage affordability (29th). Families in Austin have a much higher income than the national average, but starter homes are priced at $331,565—bringing the average mortgage payment to a hefty $2,259 a month.
  3. San Antonio-New Braunfels: Roughly 80 miles from the state capital, the San Antonio-New Braunfels metro area is the third most affordable place for first-time homebuyers. And, San Antonio ranks second in market access, suggesting much lower competition among buyers than the national average. It’s also a top-10 area for employment and livability but doesn’t rank as highly as Austin in either category. It does, however, boast much better mortgage affordability and bargaining power than Austin, ranking 6th and 4th among other metro areas, respectively.
  4. Birmingham-Hoover: Alabama’s largest metro area, consisting of seven counties, has seen its population steadily decline over the decades, but still offers first-time buyers a little bit of everything: mortgage affordability (6th), bargaining power (4th), and employment growth (5th). Over the past year, employment in the area has increased by 3%, making it one of the fastest-growing labor markets in the country.
  5. Jacksonville: Wrapping up our top 5 ranking is metro Jacksonville, which includes four counties and is the 4th largest metropolitan area in Florida. Jacksonville makes the list thanks to its strong market access (4th) and good livability (12th). What makes Jacksonville a major standout on this list is its labor market. After registering a whopping 3.8% increase over the past year it ranks first in employment growth. The only caveats to Jacksonville are mortgage affordability (28th) and bargaining power (32nd), which rank middle of the pack. Still, starter home prices are highly affordable compared to other major metro areas.

  Pittsburgh: Steel town becomes boom town?

  While Pittsburgh doesn’t get as much spotlight as Austin and other Sun Belt cities, the steel town punches above its weight in giving the best bang for the buck for first-time homebuyers.

  What makes Pittsburgh such an attractive place for first-time buyers is the affordability of its starter homes, which typically go for $107,912—the lowest among other metro areas in our ranking.

  Even at the current mortgage rates, a mortgage for such a home, including fees and insurance, would come to around $850 a month.

  That translates to just 14% of the median monthly household income in Pittsburgh, meaning many middle-class households can easily afford two starter homes.

  Pittsburgh is also one of the few metropolitan areas where the average household can afford a median-priced home.

  As such, the Pittsburgh metro ranks #1 in our mortgage affordability ranking.

  Perhaps more surprising is the fact that Pittsburgh’s unemployment rate is well below the national average. Its cost of living is also lower than the U.S. average.

  Even investors have recognized the real estate potential in the steel town.

  In 2021, nearly 25% of homes sold in the city were to investors or corporations—up from 15.5% in 2010, according to the local nonprofit Pittsburgh Community Reinvestment Group.

  Unlike other investor-infested housing markets, however, Pittsburgh continues to offer the best value among the top 50 metro areas.

  Worst metro areas for first-time buyers

  Not surprisingly, California dominates the bottom of the rankings because of its lack of mortgage affordability, relatively weak market access, and diminished bargaining power.

  The bottom five metro areas in our ranking are:

  • 46. Riverside-San Bernardino-Ontario: Riverside’s close proximity to Los Angeles has made it an attractive destination for Californians. Despite being a growing city with lots of amenities, the third largest metro area in California, which includes Riverside and San Bernardino counties, ranks 48th for livability due to its high cost of living. Mortgage affordability for a starter home is also among the worst (44th), mainly because of elevated housing costs. Riverside residents also lack bargaining power—the metro ranks 39th in that category.
  • 47. Denver-Aurora-Lakewood: The mile-high city ranks dead last for bargaining power—meaning residents there shouldn’t expect price reductions when shopping for a starter home in this six-county metro area. Mortgage affordability is also among the lowest (38th), mostly because of elevated housing costs. Denver ranks 48th for jobs, becoming one of only a small handful of major cities to register negative employment growth.
  • 48. Los Angeles-Long Beach-Anaheim: With an average starter home price of $645,196, Los Angeles, the most populous metropolitan area in the country, is one of the worst cities for first-time homebuyers. Elevated housing costs have pushed down mortgage affordability—the city ranks 49th in this category. Los Angeles also ranks poorly for livability (46th) due to a high cost of living, crime, and poor access to healthcare.
  • 49. San Diego-Carlsbad: For first-time buyers, the San Diego metro, which encompasses all of San Diego county, is very similar to Los Angeles. The city has an average home price of $651,891 and poor mortgage affordability (48th). San Diego has a much higher livability score (26th) but ranks worse than Los Angeles for market access and bargaining power. There just aren’t a lot of housing options for first-time buyers, and the prospects aren’t looking up in the near term.
  • 50. San Jose-Sunnyvale-Santa Clara: At the very bottom of our ranking is San Jose, which is an hour’s drive south of San Francisco. What makes San Jose so prohibitive is its lack of mortgage affordability (50th), with starter home prices coming in at a whopping $965,068—even higher than Los Angeles. That’s more than six times higher than the annual median household income in that area. A lack of market access (35th) and poor employment growth (38th) round out the reasons first-time buyers might want to (or have to) steer clear.

  Where each metropolitan area ranks

  Tyler Durden
  Mon, 02/12/2024 – 19:55

• CRE Crash Unfolding: "Yes That's Not A Typo – It Literally Sold For $9 Per SQFT" 
  CRE Crash Unfolding: “Yes That’s Not A Typo – It Literally Sold For $9 Per SQFT” 

  In a commentary, Neil Callanan of Bloomberg highlighted, “The commercial real estate crash unfolding in the US is a natural consequence of quantitative easing.” 

  Callanan continued: ” … which intentionally pushed investors out of safer assets like bonds and into alternatives like private equity, malls, and warehouses.” 

  

  The journalist penned the note titled “The CRE Crash Is Part of the Price of Global Quantitative Easing” following the latest CRE rumblings with loan losses, reserve build, and dividend cuts announced by New York Community Bancorp, a regional bank with high exposure to multifamily and CRE lending across NYC. Also, sizable credit losses and/or write-downs of US CRE sparked chaos for lenders in Japan, Germany, and Canada as the dominoes began to fall. 

  Furthermore, Callanan referenced a National Bureau of Economic Research report revealing that 45% of all office loans are underwater. This report also cautioned that upwards of 300 regional banks could face solvency runs due to CRE turmoil at the end of the third quarter. 

  In a report last week, research firm Green Street estimated that appraised property values could sustain another 10% to reach fair valuations, which is bad news for lenders, particularly smaller ones with weak balance sheets. 

  X user Triple Net Investor posted the latest CRE catastrophe: “A 262k sq ft building in Ohio has just sold for $2.4 million, or $9 per sq ft.” 

  X user said, “Yes, that’s not a typo – it literally sold for $9 per sq ft.” 

  “The commercial real estate ‘correction’ has gone from concerning to an outright apocalypse, primarily impacting office properties in most cities across the US,” the user explained. 

  A 262k sq ft building in Ohio has just sold for $2.4 million, or $9 per sq ft

  Yes that’s not a typo – it literally sold for $9 per sq ft

  It was the former site of FedEx Custom Critical in Green, Ohio

  The commercial real estate ‘correction’ has gone from concerning to an… pic.twitter.com/8yJMTg09Nc

  — Triple Net Investor (@TripleNetInvest) February 9, 2024

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

  Barry Sternlicht, chairman and CEO of Starwood Capital, warned last summer that the CRE storm is entering “Category 5 hurricane” strength. He recently gave his take on the situation:

  “The office market has an existential crisis right now… it’s a $3 trillion dollar asset class that’s probably worth $1.8 trillion [now].” 

  Barry Sternlicht just gave a VERY thoughtful interview about the growing troubles in commercial real estate:

  Here’s what he had to say:

  “We have a problem in real estate. In every sector of real estate, not just office, because of the 500 basis point increase in rates that was… pic.twitter.com/OZdrpxxBtq

  — Triple Net Investor (@TripleNetInvest) February 1, 2024

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

  So, what’s ahead for the office market? 

  Well, more turmoil: Analysts led by Morgan Stanley’s Ronald Kamdem warned the most significant headwinds for Class A and Class B/C is years of supply, well above pre-Covid levels. 

  

  Class A office has about 18 years of supply, compared with the 2015-19 average of 13 years. 

  

  “The supply risk picture at the national level remains concerning and implies vacancy rates will likely remain under pressure,” Kamdem wrote. 

  And what happens if these buildings can’t find tenants and office owners can’t find financing?

  Well, as Vishwanath Tirupattur, global head of Quantitative Research at Morgan Stanley, warned in a note days ago: The CRE crisis will be with us for a long time. 

  Tyler Durden
  Mon, 02/12/2024 – 19:30

• Democrats Strongly Support Mail-In Voting While Republicans Oppose, Poll Shows
  Democrats Strongly Support Mail-In Voting While Republicans Oppose, Poll Shows

  Authored by Aaron Pan via The Epoch Times (emphasis ours),

  

  A solid majority of Americans support the use of voter ID and paper ballot backups as measures to ensure election integrity, yet they remain divided along party lines over the issue of voting by mail, according to a survey.

  The Pew Research Center poll, released on Feb. 7, found that 84 percent of Democrats believe voting by mail should be available to all voters, while 28 percent of Republicans favor this requirement. On a national average, 57 percent of respondents support this proposal.

  Democrats strongly favor automatic voter registration for all eligible citizens and election-day voter registration, with 79 percent and 76 percent support, respectively. In comparison, nearly four in ten Republicans support these measures.

  In 2021, another Pew Research survey found that “Democrats are more likely to strongly favor proposals aimed at making it easier to vote; Republicans are more likely to strongly support requiring voters to show photo ID.”

  Measures With Strong Bipartisan Support

  The survey also found that most U.S. voters support paper ballot backups (82 percent), voter ID requirement (81 percent), early in-person voting (76 percent), making Election Day a national holiday (72 percent), and granting voting rights to convicted felons after completing their sentences (69 percent).

  Voter ID requirements and paper ballot backups have the highest support among Republicans. The other three proposals receive higher support among Democrats.

  Although a solid majority of Americans support voter ID, with 81 percent in favor, there is partisan division over the policy. Nearly all Republicans (95 percent) favor the measure, while 69 percent of Democrats support voter ID.

  Americans are also divided over the policy of removing inactive records from voter registration lists: 60 percent of Republicans favor this policy, compared with 27 percent of Democrats.

  Among racial and ethnic groups, black voters are more strongly supportive of early in-person voting (85 percent) and of granting voting rights to convicted felons after they finish their sentences (79 percent) than other groups are.

  Shift in Public Opinion

  The survey found that voters have changed their views in recent years, particularly regarding voting by mail; 57 percent of American adults now support voting by mail, compared with 70 percent four years ago. Among Republicans, only 28 percent support the policy, down from 49 percent in 2020, while Democrats’ views on this have remained unchanged since 2020.

  For the photo ID requirement, Republican support remains unchanged at 95 percent, whereas Democrat support has increased to 69 percent, up from 61 percent last year.

  Support among Americans for making election day a national holiday has increased from 65 percent in 2018 to 72 percent at present. In contrast, support for election-day voter registration has declined over recent years, dropping from 64 percent in 2018 to 57 percent today.

  Election Integrity Concerns

  Newly released documents show that the Cybersecurity and Infrastructure Security Agency (CISA) knew it was unethical to censor concerns about the security of mail-in voting prior to the 2020 election, but it proceeded to do so anyway.

  On Jan. 22, America First Legal (AFL) revealed a collection of documents alleging that CISA was aware that mail-in ballots were less secure than voting in person before the 2020 election.

  “CISA interfered in the 2020 presidential election. CISA knew that in-person voting did not increase the spread of COVID[-19]. CISA knew mail-in voting was less secure. CISA nevertheless supported policy changes to encourage unprecedented widespread mail-in voting,” AFL said in a statement.

  “Common sense dictates that ballots submitted via mail are inherently less secure than verified, in-person voting by a citizen who shows identification before casting his or her ballot,” Gene Hamilton, AFL’s vice president and general counsel, said in a press release. “The American people were lied to, and there must be accountability. ”

  CISA admitted that mail-in voting held more severe risks than in-person elections, but it collaborated with technology companies to restrict what it deemed misinformation, disinformation, or malinformation surrounding the 2020 election. However, the recently disclosed records reveal how CISA did this.

  Austin Alonzo and Savannah Hulsey Pointer contributed to this report.

  Tyler Durden
  Mon, 02/12/2024 – 19:05

• Court Orders Netherlands To Halt F-35 Parts For Israel As EU Says "Too Many People" Are Dying
  Court Orders Netherlands To Halt F-35 Parts For Israel As EU Says “Too Many People” Are Dying

  Israel’s worst nightmare is beginning to unfold. It has worked for years and decades to prevent a global boycott movement from ever gaining traction amid persistent accusations it violates Palestinians’ human rights, but amid the current war and soaring civilian death toll in Gaza, there are signs the pro-boycott movement is gaining steam.

  The government of the Netherlands has been ordered to block of all exports of F-35 fighter jet parts by a Dutch appeals court, on fears that the transfer would contribute to human rights violations. 

  

  “It is undeniable that there is a clear risk the exported F-35 parts are used in serious violations of international humanitarian law,” the court said according to Reuters.

  Israel has been bombing the Gaza Strip continuously since Oct.7 as part of the military operation to root out Hamas. But the war has resulted in an immense civilian death toll. Gaza health officials say the death toll has surpassed 28,000 as a result of the ground and air assault. 

  Defense leaders not happy, however, the government’s Trade Minister Geoffrey van Leeuwen admitted that “The delivery of US F-35 parts to Israel in our view is not unjustified.” He said F-35s were for Israel’s protection from the many regional threats it faces, “for example from Iran, Yemen, Syria and Lebanon.”

  According to the court, “the state had to comply with the order within seven days and dismissed a request by government lawyers to suspend the order pending an appeal to the Supreme Court.”

  There’s reportedly a possible workaround in progress which would involve sending the jet parts to Israel based on the government providing guarantees that the parts wouldn’t go toward F-35s operating over Gaza.

  Interestingly, the court order threatens to disrupt a crucial US-supply chain pipeline of defense wares to Israel: 

  The appeals court also said it was likely the F-35s were being used in attacks on Gaza, leading to unacceptable civilian casualties. It dismissed the Dutch state’s argument that it did not have to do a new check on the permit for the exports.

  The Netherlands houses one of several regional warehouses of US-owned F-35 parts, from which the parts are distributed to countries that request them, including Israel in at least one shipment since Oct. 7.

  The government said it would try to convince partners it would remain a reliable member of the F-35 program and other forms of international and European defense cooperation.

  Meanwhile, humanitarian pressure continues to mount on Israel, also at a moment the International Court of Justice is weighing South Africa’s ‘genocide’ case against Israel.

  European Union foreign policy chief Josep Borrell is the latest to urge Israel’s backers to halt all military supplies to the Jewish State. He lamented Monday that “too many people” are being killed in Gaza. But his remarks more highlighted the hypocrisy of the West as it condemns the death toll from Israel’s actions but still keeps pumping in the arms…

  Update: EU’s Borrell on US+Israel:
  “If you believe too many people are being killed, maybe you should provide less arms”
  “Everybody goes to Tel Aviv begging”
  “Netanyahu doesn’t listen to anyone. They’re going to evacuate. Where? To the moon?”
  “Stop saying please & do something!” pic.twitter.com/g8uiprUia2

  — Rosie Birchard (@RosieBirchard) February 12, 2024

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  Referencing Joe Biden’s remark last week that Israel’s military action was “over the top,” Borrell said, “Well, if you believe that too many people are being killed, maybe you should provide less arms in order to prevent so many people having been killed.”

  “How many times have you heard the most prominent leaders and foreign ministers around the world saying too many people are being killed?” Borrell questioned. “If the international community believes that this is a slaughter, that too many people are being killed, maybe we have to think about the provision of arms.”

  Meanwhile, this testy exchange also played out Monday afternoon…

  AP’s Matt Lee: What leverage is US using?

  State Dept spox Matt Miller: “The words of the President…matter”

  Lee: “Over the top?’ That’s leverage?”

  (2 days after Biden called Israel’s behavior “over the top,” it attacked the last refuge for 1.5 million Palestinians—killing 90+) pic.twitter.com/pEOKbQlCsb

  — Prem Thakker (@prem_thakker) February 12, 2024

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  Tyler Durden
  Mon, 02/12/2024 – 18:45

• Victor Davis Hanson: The Absurd Border Con
  Victor Davis Hanson: The Absurd Border Con

  Authored by Victor Davis Hanson via The Epoch Times,

  In 2021, President Joe Biden opened wide an inherited, secure southern border that had finally stopped mass illegal immigration.

  

  When he overturned former President Donald Trump’s efforts, a planned flood of over 8 million illegal immigrants entered the United States.

  Almost all arrived without background checks, health screening, or vaccination certificates—but with massive needs for free housing, education, healthcare, and food entitlements and subsidies.

  For four years, President Trump battled the courts, his Democratic opposition, and the open-border establishments within his own party to ensure legal-only immigration. Somehow, he rebuilt some of the old porous border fence. He had begun to build his long-promised new wall to the Gulf of Mexico. He had ended Obama-era catch-and-release.

  Would-be refugees had to apply for asylum in their home country. President Trump leveraged Mexican President Andrés Manuel López Obrador to police his own border and stop cynically transiting millions of illegal aliens into the United States.

  There was general Democratic Party opposition to all of Trump’s measures, both through Congress and via the courts.

  For the last three years of Biden’s mass influx, the left has applauded open borders. That is, until late last year, when overwhelmed southern border state governors began busing and flying illegal immigrants en masse to northern sanctuary-city jurisdictions.

  For years, these sanctuary zones had preened their liberality about open borders. They smeared as “racists” and “xenophobes” any who insisted on legal-only immigration.

  But now they were subject to the real-life ramifications of their own destructive ideologies.

  Major blue-state cities like Chicago, Los Angeles, San Francisco, and Washington, D.C., became outraged that they were inundated with tens of thousands of immigrants, all without legality, veritable identification, or background checks.

  Some proved violent. Others crowded out scarce resources essential to millions of inner-city poor.

  The liberal architects of illegal immigration are usually rich and powerful enough to be insulated from the consequences of their utopian policies.

  But not so their poor or minority constituents. They deal first-hand with spiking crime, appropriation of their parks and civic centers, and restricted access to now overwhelmed social services.

  So the once open-border Democrat Party and President Biden are in a quandary. They now fear mass defections of core Latino and black voters in an election year.

  But how can they square the circle of insisting on open borders with the need to appear to their own voters as determined to close them?

  We saw the absurd answer this week. Shameless Democrats tried to enlist naive and foolish Republicans to bail them out with a “comprehensive immigration bill.”

  It was really designed to keep the border open while spending billions of dollars to facilitate more rapid and orderly transits—and more substantial welfare support for millions of illegals here and still to come.

  Now Democrats claim that anyone who did not sign on to codify and regulate illegal immigration was responsible for their own deliberate open border policies in the first place!

  To add insult to injury, they next sought to piggyback their toxic immigration bill onto massive aid for Israel and Ukraine. It was a transparent effort to blame any Republicans for harming Israel and aiding Putin, should they not sign on to a more efficient open border.

  The real agenda of the bill’s supporters is absolutely no return to Trump’s legal-only immigration and a secure border.

  That simple solution requires no new legislation and almost no new spending. But it does imply acknowledgment that the hated President Trump had solved the problem executively – and that admission is apparently taboo.

  Finally, public outrage from the left and conservative anger at foolish and naive Republican enablers stopped the bill.

  Still, it remains somewhat unclear why President Biden and his Homeland Security chief, Alejandro Mayorkas, destroyed what President Trump had achieved. Why would they ensure such misery for both American hosts and millions of illegal immigrants?

  Did they want new long-term constituents, given that their neo-socialist agendas cannot win over a majority of current Americans?

  Is importing millions of the poorest and most in need on the planet a way to ensure a still larger Great Society of entitlements and, with it, higher taxes on the “filthy rich”?

  Do they assume that America’s increasingly non-Election-Day balloting ensures far less authentication and rejection of mail-in ballots, and thus it will be relatively easy for non-citizens to vote?

  Many, left and right, make no effort to hide their desire for cheap imported labor—even though the current labor participation rate is only 62 percent of the potential American workforce.

  Finally, one might expect this artifice from the left that is wedded to open borders.

  But why some establishment Republicans aided and abetted these disingenuous efforts is yet another reminder why the doctrinaire Republican Party had to be reinvented by President Trump.

  Tyler Durden
  Mon, 02/12/2024 – 18:20

• Satanic Temple Claims Abortion Is Part Of Their Religion In Effort To Block Abortion Bans
  Satanic Temple Claims Abortion Is Part Of Their Religion In Effort To Block Abortion Bans

  Authored by Darlene McCormick Sanchez via The Epoch Times (emphasis ours),

  

  A satanic group is continuing attempts to overturn abortion bans in pro-life states by filing lawsuits claiming abortion is part of their religion.

  The Satanic Temple (TST), a nonprofit based in Salem, Massachusetts, has filed lawsuits in Missouri, Indiana, Texas, and Idaho that so far have been unsuccessful.

  That hasn’t stopped the headline-grabbing organization from plaintiff-shopping for new religious freedom lawsuits to stop abortion bans, according to its website.

  The group doesn’t shy away from controversy. It made news recently for staging a satanic holiday display featuring a silver goat head atop blood-red robes during Christmas at the Iowa Capitol. The Baphomet statue shared space with a Christmas display until it was decapitated.

  Michael Cassidy, a former U.S. Navy fighter pilot who ran for office in Mississippi, took credit for tearing it down. The Christian conservative raised $120,000 as of early February for legal fees after being charged with criminal mischief. Recently, prosecutors announced they are charging him with a felony hate crime.

  TST created an abortion ritual that it claims will exempt women from their states’ laws. The ritual, along with TST’s new abortion clinic in New Mexico, was featured in November’s Cosmopolitan magazine.

  Proponents of abortion feel a woman should have control over her body, and abortion should be a choice. Pro-life groups contend that life starts at conception and that the developing child has the right to life.

  TST named their clinic Samuel Alito’s Mom’s Satanic Abortion Clinic, mocking the U.S. Supreme Court justice who wrote the majority opinion in Dobbs v. Jackson Women’s Health Organization that overturned Roe v. Wade.

  The abortion ritual involves the recitation of two of the group’s tenets and reinforces the idea of bodily autonomy.

  “The Satanic Abortion Ritual is a destruction ritual that serves as a protective rite,” the website states. “Its purpose is to cast off notions of guilt, shame, and mental discomfort that a patient may be experiencing due to choosing to have a legal and medically safe abortion.”

  

  The group’s website states that it relies on several legal arguments: that denying members access to abortion infringes on their religious right to participate in a satanic abortion ritual; that forcing someone to carry an unwanted child amounts to seizing a woman’s uterus without compensation; and that forced pregnancy is akin to servitude, in violation of the 13th Amendment, which abolishes slavery.

  In the case of Indiana, the group argues that the abortion restrictions criminalize abortions resulting from protected sex and create a class of people who are discriminated against because they are denied an abortion.

  Recent judicial rulings, such as the case of a Christian business owner denying services to LGBT people on religious grounds, appear to be part of the group’s legal strategy to flip the script on abortion bans. Except in this case, their religion involves providing the service of ritualized abortion.

  Critics say the legal strategies are shaky.

  Jonathan Hullihan is a Texas attorney for Citizens Defending Freedom, a watchdog group focused on liberties guaranteed by the Constitution. He told The Epoch Times that the High Court’s decision in Dobbs held that the Constitution did not confer a right to an abortion, leaving it to states to regulate.

  TST has brought claims under the Religious Freedom Restoration Act (RFRA) or state versions, he said.

  “This is an attempt to recognize a federal constitutional right to abortion in direct conflict with the Dobbs holding,” Mr. Hullihan said.

  

  “While courts generally don’t question the sincerity of religious beliefs, the claim that religious beliefs require members to seek an abortion is unlikely to prevail in court,” he said. When contacted for comment, Lucien Greaves, TST co-founder and spokesperson, told The Epoch Times that critics don’t have a monopoly on freedom of religion.

  ProLove Ministries founder and CEO Abby Johnson questioned the idea of religion without a deity.

  “I think it’s interesting they’re trying to get a religious exemption when they say over and over and over again that satanism isn’t a religion and they’re non-theistic,” she told the Epoch Times.

  “So, I’m like, ‘Tell me again how you are trying to get a religious exemption?’” she said.

  ‘Out of Touch’

  Opponents of abortion argue that religious freedom doesn’t mean anything goes.

  “The Supreme Court has made it pretty clear that you’re not allowed to claim a religious exemption to get away with doing whatever you want to,” said Eric Scheidler, executive director of the Pro-Life Action League.

  TST’s rhetoric about choice ignores the facts about abortion, Mr. Scheidler said. Some 60 percent of women who get an abortion felt “high levels of pressure” to do so, according to a 2023 study in the National Library of Medicine.

  “They are really out of touch,” Mr. Scheidler told The Epoch Times. “I mean, most Americans find a story like this kind of horrifying, people making light of abortion.”

  A 2021 government study found more than 90 percent of biologists believe life begins at conception.

  Mr. Scheidler suspects part of the group’s goal is to play the provocateur.

  “They get some sort of adolescent thrill out of the imagined conniption fits that they drive religious people into with their antics,” Mr. Scheidler said. “In fact, we sort of roll our eyes and carry on with the real business.”

  Epoch Times reporters Sam Dorman, Samantha Flom, and Jackson Elliott contributed to this report.

  Tyler Durden
  Mon, 02/12/2024 – 17:40

• Trump Asks Supreme Court To Intervene In Immunity Appeal
  Trump Asks Supreme Court To Intervene In Immunity Appeal

  Former President Donald Trump asked the Supreme Court on Monday to step in and weigh in on his claim of presidential immunity after the DC Circuit Court of Appeals sided with special counsel Jack Smith – ruling that Trump is not immune from prosecution. The lower court held off on issuing the mandate until Monday in order to allow Trump’s legal team time to approach the Supreme Court.

  

  Trump is specifically asking the Supreme Court to pause the lower court’s ruling until he can formally appeal, which will further delay his trial in front of District Court Judge Tanya Chutkan.

  BREAKING: Trump asks Supreme Court to halt an appeals court ruling denying his bid to dismiss his election interference case based on presidential immunity. pic.twitter.com/sccmQSQEcb

  — Katelynn Richardson (@katesrichardson) February 12, 2024

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  The trial was originally scheduled for March 4, however Chutkan vacated the date in early February amid Trump’s immunity defense, and noted that the court would “set a new schedule if and when the mandate is returned.” Chutkan’s decision also denied Trump’s bid to toss the case in December based on the immunity claim.

  Smith sought to keep the trial on schedule in December by asking the Supreme Court to take up the question before the appeals court had a chance to consider it, but the justices rejected his request.

  “President Trump’s claim that Presidents have absolute immunity from criminal prosecution for their official acts presents a novel, complex, and momentous question that warrants careful consideration on appeal,” the application states. “The panel opinion below, like the district court, concludes that Presidential immunity from prosecution for official acts does not exist at all. This is a stunning breach of precedent and historical norms.” –Daily Caller

  In January, Trump’s legal team presented oral arguments to the DC Circuit Court of Appeals, which Trump attended. The Judge, Biden appointee Florence Pan, questioned whether presidential immunity extended to such examples as a president ordering SEAL Team Six to assassinate a political rival without facing criminal charges.

  “For the purpose of this criminal case, former President Trump has become citizen Trump, with all of the defenses of any other criminal defendant. But any executive immunity that may have protected him while he served as President no longer protects him against this prosecution,” the panel wrote in its Feb. 6 ruling. “Former President Trump lacked any lawful discretionary authority to defy federal criminal law and he is answerable in court for his conduct.”

  In short, to be continued…

  ZeroPointNow
  Mon, 02/12/2024 – 17:20

• Institutions Double Down On AI In trading — JPMorgan Survey
  Institutions Double Down On AI In trading — JPMorgan Survey

  Authored by Helen Partz via Cointelegraph.com,

  

  Institutional investors have been increasingly betting on the role of artificial intelligence (AI) in the future of trading, according to a new survey by the multinational investment bank JPMorgan.

  In the most recent edition of JPMorgan’s “e-Trading Edit: Insights from the Inside” survey, 61% of the 4,010 institutional traders surveyed across 65 countries anticipated AI and machine learning (ML) to emerge as the most impactful technologies for trading within the next three years.

  According to the survey’s rankings, AI and ML are followed by application programming interface (API) integration, with 13% of respondents choosing it as one of the most important technologies shaping the future of trading.

  Blockchain or distributed ledger technology and quantum computing both account for 7% based on the respondent’s preferences. Mobile trading applications and natural language processing secured 6% of respondents.

  

  AI and machine learning have been steadily gaining ground in JPMorgan’s reports in recent years, with the tech accounting for just 25% in ranked importance two years ago.

  On the other hand, institutions have been growing increasingly skeptical about the role of other technologies in trading, including mobile trading applications and blockchain, according to JPMorgan’s survey. Since 2022, blockchain and mobile trading applications have lost 18% and 23% of investor choices as promising technologies for trading, respectively.

  AI has been reshaping the future of finance over the past few years by offering various features, including trade predictions or identifying real-time threats to market sentiment. According to a 2022 report by Nvidia, investors have been integrating AI and ML, with 30% of respondents reportedly managing to reduce their annual revenue by more than 10%.

  While doubling down on the AI role in trading, JPMorgan-surveyed institutions have become less willing to get into cryptocurrency trading.

  According to the survey results, 78% of institutional traders have no plans to trade cryptocurrencies like Bitcoin

  or digital coins within the next five years. The percentage of investors not planning to trade crypto has increased since last year, as 72% of respondents indicated unwillingness to trade such assets in 2023.

  

  At the same time, the percentage of respondents that have started trading crypto or trade it already has slightly increased from 8% in 2023 to 9% in 2024.

  JPMorgan has been controversial in terms of its approach to crypto over the past few years. CEO Jamie Dimon continued to slam cryptocurrencies like Bitcoin even after the company was named an authorized participant in one of the fastest-growing spot Bitcoin exchange-traded funds by BlackRock.

  Tyler Durden
  Mon, 02/12/2024 – 17:00

• Mapping Global GDP Growth Forecasts By Country In 2024
  Mapping Global GDP Growth Forecasts By Country In 2024

  Resilient GDP growth and falling inflation are spurring a brighter outlook for 2024, although cautions remain across global economies.

  While investors are hopeful that U.S. rate cuts could happen as early as May, the Fed has signaled that it won’t “declare victory” too soon. As countries around the world maneuver a complex landscape, they are faced with a scope of risks that include inflationary spikes, rising debt loads, and dwindling consumer savings.

  The grpah below, via Visual Capitalist’s Dorothy Neufeld, shows global GDP growth projections in 2024, based on the International Monetary Fund (IMF) October 2023 Outlook and January 2024 update.

  

  Global GDP Growth Outlook 2024

  In 2024, real GDP growth is forecast to increase 3.1%, a slight rise from October’s outlook.

  While positive growth is projected across all regions, it varies widely due to many factors spanning from the effects of higher borrowing costs to low consumer sentiment. Here are forecasts across 191 countries worldwide:

  Country	2024 Real GDP % Change (Projected)	2023 Real GDP % Change (Estimate)
  🇦🇱 Albania	3.3%	3.6%
  🇩🇿 Algeria	3.1%	3.8%
  🇦🇩 Andorra	1.5%	2.1%
  🇦🇴 Angola	3.3%	1.3%
  🇦🇬 Antigua and Barbuda	5.4%	5.6%
  🇦🇷 Argentina	2.8%	-2.5%
  🇦🇲 Armenia	5.0%	7.0%
  🇦🇼 Aruba	1.2%	2.3%
  🇦🇺 Australia	1.2%	1.8%
  🇦🇹 Austria	0.8%	0.1%
  🇦🇿 Azerbaijan	2.5%	2.5%
  🇧🇸 The Bahamas	1.8%	2.7%
  🇧🇭 Bahrain	3.6%	6.0%
  🇧🇩 Bangladesh	6.0%	4.5%
  🇧🇧 Barbados	3.9%	1.6%
  🇧🇾 Belarus	1.3%	1.0%
  🇧🇪 Belgium	0.9%	4.0%
  🇧🇿 Belize	3.0%	5.5%
  🇧🇯 Benin	6.3%	5.3%
  🇧🇹 Bhutan	3.0%	1.8%
  🇧🇴 Bolivia	1.8%	2.0%
  🇧🇦 Bosnia and Herzegovina	3.0%	3.8%
  🇧🇼 Botswana	4.1%	3.1%
  🇧🇷 Brazil*	1.7%	-0.8%
  🇧🇳 Brunei Darussalam	3.5%	1.7%
  🇧🇬 Bulgaria	3.2%	4.4%
  🇧🇫 Burkina Faso	6.4%	3.3%
  🇧🇮 Burundi	6.0%	4.4%
  🇨🇻 Cabo Verde	4.5%	5.6%
  🇰🇭 Cambodia	6.1%	4.0%
  🇨🇲 Cameroon	4.2%	1.3%
  🇨🇦 Canada*	1.4%	1.0%
  🇨🇫 Central African Republic	2.5%	4.0%
  🇹🇩 Chad	3.7%	-0.5%
  🇨🇱 Chile	1.6%	5.0%
  🇨🇳 China*	4.6%	1.4%
  🇨🇴 Colombia	2.0%	3.0%
  🇰🇲 Comoros	3.5%	4.4%
  🇨🇩 Democratic Republic of the Congo	4.7%	2.7%
  🇨🇬 Republic of Congo	4.4%	6.2%
  🇨🇷 Costa Rica	3.2%	2.2%
  🇨🇮 Côte d’Ivoire	6.6%	0.2%
  🇭🇷 Croatia	2.6%	6.7%
  🇨🇾 Cyprus	2.7%	1.7%
  🇨🇿 Czech Republic	2.3%	5.0%
  🇩🇰 Denmark	1.4%	4.6%
  🇩🇯 Djibouti	6.0%	3.0%
  🇩🇲 Dominica	4.6%	1.4%
  🇩🇴 Dominican Republic	5.2%	4.2%
  🇪🇨 Ecuador	1.8%	2.2%
  🇪🇬 Egypt	3.6%	-6.2%
  🇸🇻 El Salvador	1.9%	-2.3%
  🇬🇶 Equatorial Guinea	-5.5%	3.1%
  🇪🇪 Estonia	2.4%	6.1%
  🇸🇿 Eswatini	3.3%	7.5%
  🇪🇹 Ethiopia	6.2%	-0.1%
  🇫🇯 Fiji	3.9%	1.0%
  🇫🇮 Finland	1.0%	2.8%
  🇫🇷 France*	1.0%	6.2%
  🇬🇦 Gabon	2.6%	-0.5%
  🇬🇲 The Gambia	6.2%	1.2%
  🇬🇪 Georgia	4.8%	2.5%
  🇩🇪 Germany*	0.5%	3.9%
  🇬🇭 Ghana	2.7%	3.4%
  🇬🇷 Greece	2.0%	5.9%
  🇬🇩 Grenada	3.8%	4.5%
  🇬🇹 Guatemala	3.5%	38.4%
  🇬🇳 Guinea	5.6%	-1.5%
  🇬🇼 Guinea-Bissau	5.0%	2.9%
  🇬🇾 Guyana	26.6%	4.4%
  🇭🇹 Haiti	1.4%	-0.3%
  🇭🇳 Honduras	3.2%	3.3%
  🇭🇰 Hong Kong SAR	2.9%	6.3%
  🇭🇺 Hungary	3.1%	5.0%
  🇮🇸 Iceland	1.7%	-2.7%
  🇮🇳 India*	6.5%	2.0%
  🇮🇩 Indonesia	5.0%	3.0%
  🇮🇷 Iran	2.5%	3.1%
  🇮🇶 Iraq	2.9%	0.7%
  🇮🇪 Ireland	3.3%	2.0%
  🇮🇱 Israel	3.0%	2.0%
  🇮🇹 Italy*	0.7%	2.6%
  🇯🇲 Jamaica	1.8%	4.6%
  🇯🇵 Japan*	0.9%	5.0%
  🇯🇴 Jordan	2.7%	2.6%
  🇰🇿 Kazakhstan	4.2%	1.4%
  🇰🇪 Kenya	5.3%	3.8%
  🇰🇮 Kiribati	2.4%	-0.6%
  🇰🇷 Korea	2.2%	3.4%
  🇽🇰 Kosovo	4.0%	4.0%
  🇰🇼 Kuwait	3.6%	0.5%
  🇰🇬 Kyrgyz Republic	4.3%	2.1%
  🇱🇦 Lao P.D.R.	4.0%	4.6%
  🇱🇻 Latvia	2.6%	12.5%
  🇱🇸 Lesotho	2.3%	-0.2%
  🇱🇷 Liberia	5.3%	-0.4%
  🇱🇾 Libya	7.5%	74.4%
  🇱🇹 Lithuania	2.7%	4.0%
  🇱🇺 Luxembourg	1.5%	1.7%
  🇲🇴 Macao SAR	27.2%	4.0%
  🇲🇬 Madagascar	4.8%	8.1%
  🇲🇼 Malawi	3.3%	4.5%
  🇲🇾 Malaysia	4.3%	3.8%
  🇲🇻 Maldives	5.0%	3.0%
  🇲🇱 Mali	4.8%	4.5%
  🇲🇹 Malta	3.3%	5.1%
  🇲🇭 Marshall Islands	3.0%	3.2%
  🇲🇷 Mauritania	5.3%	2.6%
  🇲🇺 Mauritius	3.8%	2.0%
  🇲🇽 Mexico*	2.7%	5.5%
  🇫🇲 Micronesia	3.1%	4.5%
  🇲🇩 Moldova	4.3%	2.4%
  🇲🇳 Mongolia	4.5%	7.0%
  🇲🇪 Montenegro	3.7%	2.6%
  🇲🇦 Morocco	3.6%	2.8%
  🇲🇿 Mozambique	5.0%	0.5%
  🇲🇲 Myanmar	2.6%	0.8%
  🇳🇦 Namibia	2.7%	0.6%
  🇳🇷 Nauru	1.3%	1.1%
  🇳🇵 Nepal	5.0%	3.0%
  🇳🇱 Netherlands	1.2%	4.1%
  🇳🇿 New Zealand	1.0%	2.9%
  🇳🇮 Nicaragua	3.3%	2.5%
  🇳🇪 Niger	11.1%	2.3%
  🇳🇬 Nigeria*	3.0%	1.2%
  🇲🇰 North Macedonia	3.2%	-0.5%
  🇳🇴 Norway	1.5%	0.8%
  🇴🇲 Oman	2.7%	6.0%
  🇵🇰 Pakistan	2.5%	3.0%
  🇵🇼 Palau	12.4%	4.5%
  🇵🇦 Panama	4.0%	1.1%
  🇵🇬 Papua New Guinea	5.0%	5.3%
  🇵🇾 Paraguay	3.8%	0.6%
  🇵🇪 Peru	2.7%	2.3%
  🇵🇭 Philippines	5.9%	-0.7%
  🇵🇱 Poland	2.3%	2.4%
  🇵🇹 Portugal	1.5%	4.0%
  🇵🇷 Puerto Rico	-0.2%	2.2%
  🇶🇦 Qatar	2.2%	2.2%
  🇷🇴 Romania	3.8%	6.2%
  🇷🇺 Russia*	2.6%	0.5%
  🇷🇼 Rwanda	7.0%	8.0%
  🇼🇸 Samoa	3.6%	2.2%
  🇸🇲 San Marino	1.3%	0.8%
  🇸🇹 São Tomé and Príncipe	2.4%	4.1%
  🇸🇦 Saudi Arabia*	2.7%	2.0%
  🇸🇳 Senegal	8.8%	4.2%
  🇷🇸 Serbia	3.0%	2.7%
  🇸🇨 Seychelles	3.9%	1.0%
  🇸🇱 Sierra Leone	4.7%	1.3%
  🇸🇬 Singapore	2.1%	2.0%
  🇸🇰 Slovak Republic	2.5%	2.5%
  🇸🇮 Slovenia	2.2%	2.8%
  🇸🇧 Solomon Islands	2.4%	0.9%
  🇸🇴 Somalia	3.7%	3.5%
  🇿🇦 South Africa*	1.0%	2.5%
  🇸🇸 South Sudan	4.2%	4.9%
  🇪🇸 Spain*	1.5%	3.2%
  🇰🇳 St. Kitts and Nevis	3.8%	6.2%
  🇱🇨 St. Lucia	2.3%	-18.3%
  🇻🇨 St. Vincent and the Grenadines	5.0%	2.1%
  🇸🇩 Sudan	0.3%	-0.7%
  🇸🇷 Suriname	3.0%	0.9%
  🇸🇪 Sweden	0.6%	4.0%
  🇨🇭 Switzerland	1.8%	0.8%
  🇹🇼 Taiwan	3.0%	6.5%
  🇹🇯 Tajikistan	5.0%	5.2%
  🇹🇿 Tanzania	6.1%	2.7%
  🇹🇭 Thailand	3.2%	4.3%
  🇹🇱 Timor-Leste	3.1%	5.6%
  🇹🇬 Togo	5.3%	1.5%
  🇹🇴 Tonga	2.5%	5.4%
  🇹🇹 Trinidad and Tobago	2.2%	2.6%
  🇹🇳 Tunisia	1.9%	2.5%
  🇹🇷 Türkiye	3.0%	1.3%
  🇹🇲 Turkmenistan	2.1%	2.5%
  🇹🇻 Tuvalu	3.5%	3.9%
  🇺🇬 Uganda	5.7%	4.6%
  🇺🇦 Ukraine	3.2%	2.0%
  🇦🇪 United Arab Emirates	4.0%	3.4%
  🇬🇧 United Kingdom*	0.6%	0.5%
  🇺🇸 U.S.*	2.1%	2.1%
  🇺🇾 Uruguay	3.3%	1.0%
  🇺🇿 Uzbekistan	5.5%	5.5%
  🇻🇺 Vanuatu	2.6%	1.5%
  🇻🇪 Venezuela	4.5%	4.0%
  🇻🇳 Vietnam	5.8%	4.7%
  🇵🇸 West Bank and Gaza	2.7%	3.0%
  🇾🇪 Yemen	2.0%	-0.5%
  🇿🇲 Zambia	4.3%	3.6%
  🇿🇼 Zimbabwe	3.6%	4.1%

  *Reflect updated figures from the January 2024 IMF Update

  In the United States, GDP growth is projected to remain moderately strong, supported by rising real wages boosting consumption across the economy.

  Yet compared to last year, growth is set to slow amid a softening labor market. In 2024, Citigroup announced it was laying off 20,000 employees after a disappointing year. Meanwhile, tech firms such as Google, Amazon, and Salesforce are reducing headcounts. Along with this, package delivery giant UPS announced 12,000 job cuts.

  In China, property market woes are dragging on economic growth. Declining real estate values have impacted incomes, assets, and the public mood. Due to these headwinds, consumption growth is forecast to drop over the year.

  Over in Latin America, Chile and Brazil were among the first emerging countries to hike interest rates in 2021—and they were some of the first to cut them last year. Thanks to improving domestic demand amid dissipating price spikes, the IMF upgraded the outlooks for Brazil and Mexico in 2024.

  The lowest growth across all regions is forecast to be seen in Europe, at 0.9%. In late 2023, Signa, a multi-billion European property firm collapsed following the sharpest rise in interest rates in the European Union’s 25-year history. Also dimming the outlook is low consumer sentiment and the impact of high energy prices.

  What are the Key Risks?

  While no one holds a crystal ball, there are certain risks outlined by the IMF that could negatively impact global GDP growth:

  • Sharply Rising Commodity Prices: If geopolitical tensions escalate in the Israel-Hamas war, it could spillover into the broader region leading to spikes in energy prices. Over a third of global oil exports are based out of the region, in addition to 14% of global gas exports. Adding to this, 11% of international trade passes through the Red Sea, which has seen continued attacks between Iran-backed Houthi rebels and strikes from the U.S. and its allies.

  • Stubborn Inflation: A return of supply disruptions paired with an overheated labor market could add inflationary pressures, potentially leading to higher interest rates. In turn, stock markets could respond adversely and financial stability could deteriorate.

  • China’s Economy Slows: A property market rout could hurt domestic growth and consumer confidence, leading to declining consumption across the country. Accounting for nearly 19% of global GDP (PPP) in 2023, a slowing Chinese economy could impact countries that rely on trade with China.

  While these risks remain present, the economy could witness positive surprises as well. Should inflation fall faster than expected, it would likely lead to monetary easing and a boost to global economic growth. Overall, the global economy defied expectations in 2023, and it may do the same in 2024.

  Tyler Durden
  Mon, 02/12/2024 – 16:40

• Why Are Solar Panels 44% Cheaper In China Than The US?
  Why Are Solar Panels 44% Cheaper In China Than The US?

  Authored by Mike Shedlock via MishTalk.com,

  The US wants to break into the solar panel business. Doing so, if its possible at all, means costs of the solar panels and electricity will surge…

  

  China’s Grip on Solar

  The Wall Street Journal asks Can the U.S. Break China’s Grip on Solar?

  That’s a free link worth reading. The short answer is everything in China is cheaper from materials to electricity to labor.

  The process is worth a closer look, however, and the US trails significantly in every stage.

  Polysilicon

  The primary building block for some 97% of the world’s solar panels is high-purity silicon, or polysilicon. Making that silicon is the first big step in the solar manufacturing process. It is the most energy- and capital-intensive piece because of the high temperatures and expensive equipment used in refining.

  Until around 2005, polysilicon manufacturing was dominated by companies from the U.S., Europe and Japan. With China’s huge expansion and investment into solar, that has flipped. In 2023, roughly 91% of the polysilicon for solar panels was produced in China.

  Recently, the U.S. has effectively banned the use of most Chinese polysilicon in imported solar panels because much of it is made in the western Chinese region of Xinjiang, where the U.S. has accused Chinese authorities of committing human-rights abuses including forced labor, allegations that Beijing denies.

  Today, U.S. buyers are increasingly relying on solar panels that use polysilicon made outside of China. Those supplies are tight, and keep prices for the U.S. market higher than for other markets.

  Ingots and wafers

  In the next part of the process, the solar-grade silicon is melted in furnaces then cooled into big rod-shaped crystals called ingots. The ingots are sawed into thin slices called wafers.

  China makes more than 97% of the world’s solar ingots and wafers. The U.S. makes none.

  Ingot manufacturing is very energy-intensive due to the high temperatures used.

  China has built many factories in areas with cheap power from coal or hydroelectric plants. The bulk of China’s solar manufacturing is in provinces where electricity costs are nearly 30% below the global industrial average.

  Sand and other materials

  High-quality quartz sand is used to produce special containers, called crucibles, for melting the silicon.

  Most of the world’s sand used in ingot production comes from the Appalachian mountains in North Carolina. But almost all of it is shipped straight to China, which makes the bulk of the world’s crucibles.

  Would-be crucible makers in the U.S. could have trouble getting sand. And would-be ingot and wafer makers in the U.S. will probably be buying the crucibles from China, bumping up costs.

  Cell manufacturing

  This is the stage at which the silicon becomes a device that can convert sunlight into electricity. There are many different ways of making solar cells, but in most, wafers are treated with chemicals and etched with circuits.

  China controls around 80% of the solar-cell market, largely because of cost advantages, and because it controls other steps of the supply chain, which lets it build ecosystems of suppliers. Many Chinese cell manufacturers also produce wafers or panels.

  The U.S. currently has no solar-cell manufacturers, with the last few pulling out of the country or going bankrupt within the past few years. Many companies have said they are planning to build solar-cell factories following the passage of the Inflation Reduction Act. More announcements are expected since it doesn’t require as much initial investment as silicon or wafer manufacturing.

  Solar Panels

  Solar-panel manufacturing is effectively an assembly process. Companies take cells and line them between sheets of glass or another material, connect them with wires, laminate the whole thing and place it in a frame. Then wires and other electronics are added to connect the panels to each other and the larger electrical system.

  This is the easiest and least capital-intensive piece of the solar supply chain, and the part that is most widely dispersed around the world. China accounted for 83% of the world’s solar-panel production and the U.S. less than 2% in 2023.

  In Europe

  Reuters reports With Solar industry in Crisis, Europe in a Bind Over Chinese Imports

  Europe’s green energy transition is stuck between a rock and a hard place. A flood of cheap Chinese solar panel imports is driving record solar energy installations. But those same imports are crushing Europe’s few local solar manufacturers.

  Europe just had a bumper year for green energy. European Union countries installed record levels of solar capacity, 40% more than in 2022. The vast majority of those panels and parts came from China – in some cases, 95%, International Energy Agency data show.

  German Economy Minister Robert Habeck wrote to the European Commission in November, expressing concern that the EU executive was about to slap trade restrictions on Chinese solar imports, a letter seen by Reuters showed.

  Habeck warned restricting Chinese imports could kill off Europe’s rapid expansion of green energy and make 90% of the PV market more expensive. It risked bankruptcies among EU companies that assemble and install solar panels using imported parts, he said.

  “You can’t reduce dependency on China in the short term or you don’t build the projects,” Miguel Stilwell d’Andrade, CEO of Portuguese utility EDP, told Reuters.
  He noted that solar panel prices have climbed in the United States, which has duties on Chinese imports. “It is having an inflationary impact … the price of panels is more than double that of Europe,” he said.

  Rather than being happy about cheap panels that help a green transition, the EU nannycrats are up in arms. So are President Biden and Donald Trump.

  60 Percent Tariffs

  The Inflation Reduction Act aims to bring some of the above processes back to the US. But it will not level the playing field on labor costs or electricity costs. Nor does the US have the plants.

  The US can easily catch up on technical know how, but it is going to lose out on every other step without huge additional tariffs.

  Both Biden and Trump are willing to do so. Trump proposes 60 percent tariffs on China. To date, Biden took Tariffs trump imposed and increased most of them.

  If the US puts 60 percent tariffs on China, the final costs will rise at least 60 percent and we will need much more electricity as well. So electricity costs will jump too.

  There are big inflationary pressures on many fronts.

  Minimum Wages Hikes at California Fast Food Restaurants

  On September 28, I noted Minimum Wage for Fast Food Workers Jumps 30% to $20 Per Hour in California

  More inflation is coming your way. California again leads the way.The bill will force many small restaurants out of business or they will pony up too. If McDonalds pays $20, why take $15.50 elsewhere? The $4.50 hike from $15.50 to $20 is a massive 30 percent jump.More inflation is coming your way. California again leads the way.

  Student Debt Cancellation

  President Biden is bragging the Supreme Court didn’t stop him from handing out still more inflationary free money.

  

  “The Supreme Court Didn’t Stop Me” said Biden on more student debt cancellation.

  The True Costs of Net Zero Are Becoming Impossible to Hide

  On February 6, I noted The True Costs of Net Zero Are Becoming Impossible to Hide

  Bloomberg reports a 48% Surge in Costs Wrecks Biden’s Much-Lauded Wind-Power Plans.

  Even with massive subsidies, these projects are not economical.

  Big Explosion of Government and Social Assistance Jobs

  President Biden is bragging about job growth in 2023. But he doesn’t say where those jobs are.

  

  Data from the BLS, chart and calculations by Mish.

  As a direct result of migration Denver Health at “Critical Point” as 8,000 Migrants Make 20,000 Emergency Visits

  Denver Health CEO Donna Lynne warned Denver Health is at a critical, critical point. Eight-thousand migrants from Central America accounted for approximately 20,000 visits in 2023.

  Denver Health asked the Federal Emergency Management Agency to provide funds for immigrants’ medical costs. The state and federal governments aren’t reimbursing the hospital, which spent $136 million for patients who didn’t pay.

  For more discussion, please see Big Explosion of Government and Social Assistance Jobs in 2023 to Help Migrants

  For now, we have disinflation, a slower increase in prices, not falling prices.

  I wonder how long that can last given the huge number of inflationary pressures that are still on deck.

  Fed Chairman Tells 60 Minutes US Fiscal Path is Unsustainable

  Also note that Jerome Powell told 60 Minutes the US Fiscal Path is Unsustainable

  Fed Chair Jerome Powell tells 60 Minutes that it’s “urgent” the US address its “Unsustainable Fiscal Path”

  I list 15 key takeaways from the interview.

  In light of unsustainable fiscal policy, the end of global wage arbitrage, the end of just in time manufacturing, and huge tariffs, I do not see the happy soft landing that nearly everyone including the Feds now sees.

  Tyler Durden
  Mon, 02/12/2024 – 16:20

• 0DTE Punters Pump And Dump Momentum Stocks As "Parabolic" Tech Hits An Airpocket
  0DTE Punters Pump And Dump Momentum Stocks As “Parabolic” Tech Hits An Airpocket

  For a few hours there it seemed like the “market” was about to blast off in a carbon-copy replica of the dot com bubble.

  With futures opening flat after Asia was closed for trading and with most traders sitting on the sideline ahead of tomorrow’s CPI print, it didn’t take long for the algos and the 0DTE crew to take control of market flows and promptly lift the Mag Seven (or rather the Mag AI since most of the 7 participants did not take part in today’s meltup and instead it was just the AI names) to new all time highs with the liftathon however fizzling the moment Europe closed. And then in the early afternoon, the party suddenly ended with a whimper, when two two consecutive dumps in 0DTE sparked an initial retracement of all gains and subsequently pushed it to session lows and – gasp – down on the day…

  

  … which also triggered the biggest sell program of the day, as seen in the TICK puke just after 2pm.

  

  The mini vortex first pushed such parabolic tech bubble names as ARM (which is so clearly and grotesqsuely manipulated by SoftBank again, one has to an en even greater moron than the SEC not to notice it), NVDA and SMCI to new all time highs, before an air pocket emerged, sending both names in the red for the day before the dip buyers made another appearance.

  

  The continued meltup in the AIvantgarde names was enough to briefly push NVDA market cap above that of AMZN, and is now breathing down GOOGL’s neck.

  

  In the end, however, the attempt to force another all time high failed, and even though spoos earlier hit a new all time high of 5,066 they closed down 0.1%,  with the Nasdaq also sliding to close 0.4% lower…

  

  … which however did nothing to reverse the brutal squeeze that has sent the most shorted names soaring in the past week.

  

  And speaking of ARM Holdings, its its latest 29% meltup has now brought the 3 days surge to 93%.

  • *ARM SOARS 29% TO BRING THREE-DAY JUMP TO MORE THAN 93%

  

  For those confused, the move is nothing more than another gamma squeeze orchestrated by SoftBank, the same trader who famously sparked the market-wide Gamma squeeze of the Nasdaq in the summer of 2020.

  Softbank is certainly not known for forced gamma squeezes https://t.co/zFyRKkAoZ6

  — zerohedge (@zerohedge) February 8, 2024

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

  To be sure, if the market is about to crack, and Goldman warned over the weekend that that may indeed be the case as there are quite a few disconnects below the surface..

  

  … we may have a long way to drop as the coming 30% drop in Momemtum would claim quite a few “AI” names.

  

  Yet even a 30% drop, which Goldman specifically warned may be coming…

  

  … would do little to dent the unprecedented outperformance of the Mag 7 vs pretty much everything else.

  

  The rest of the market – and the rest of the day – was rather boring, with rates virtually unchanged, as the 10Y closed at 4.17%, flat on the day…

  

  … and FX was even more boring with the BBDXY also flat. The only notable outlier was crypto, with bitcoin surging above $50,000 for the first time since Dec 2021 and even Ether finally preparing to break out…

  

  … as all those aggressively shorting every pop higher in the cryptocurrency via futures get REKT.

  

  Tyler Durden
  Mon, 02/12/2024 – 16:17

• Boston Couple Sign Up To House Illegal Immigrants, Get Four Delivered Within An Hour
  Boston Couple Sign Up To House Illegal Immigrants, Get Four Delivered Within An Hour

  Authored by Steve Watson via Modernity.news,

  A couple in Boston signed up to a government scheme to house illegal immigrants in their own home and were delivered an entire family of four within an hour, according to a CBS News report.

  

  “When Colin and Jessica Stokes called the state to sign up to be a host family, it took less than an hour for the displaced migrants to be dropped off at their door,” the report notes, adding “The family of four, who didn’t want to go on camera, had made been sleeping at Logan Airport“

  The couple, Colin and Jessica Stokes, said that “they knew they had the means and wanted to step up,” and that “It has been wonderful.”

  “I was like I have to get sheets on the beds. How many people are coming? Where are they from? What ages. We really knew nothing,” Mrs Stokes told reporters, with her husband adding “The need is so clearly overwhelming.”

  A couple said they were willing to provide shelter for illegal immigrants sleeping in Boston Logan airport. Within an hour the government sent a family of 4 to live in their house. @elonmusk was right when he said “They will come for your homes.” Report: https://t.co/m11isvHRGo pic.twitter.com/yGLdcYVOyp

  — m o d e r n i t y (@ModernityNews) February 12, 2024

  X owner Elon Musk, who has vocally charged that the Biden Administration is encouraging and aiding mass illegal immigration, previously warned that soon people would be giving up their homes to house immigrants as there is no where else for them to go.

  Musk was right.

  As we previously highlighted, illegal immigrants are being found sleeping in airports all over the country as states such as Texas are bussing them further north once they have crossed the border and been processed.

  Meanwhile, Department Of Homeland Security head Alejandro Mayorkas has again refused to take responsibility for what is happening on the Southern border, declaring that “Congress is the only one who can fix it.”

  *  *  *

  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
  Mon, 02/12/2024 – 15:40

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