Jul 21

Today’s News 21st July 2024

  • The Biden Titanic
    The Biden Titanic

    Authored by Victor Davis Hanson via American Greatness,

    Joe Biden’s escalating dementia and the long media-political conspiracy to hide his senility from the public are the least of the Democrats’ current problems.

    Biden’s track record as president may be more concerning than his cognitive decline. He has literally destroyed the U.S. border, deliberately allowing the entry of more than 10 million illegal aliens. His callous handlers’ agenda was to import abjectly poor constituencies in need of vast government services without regard for the current struggles of a battered American middle class and poor.

    The widespread poverty of a vast new cohort of illegal immigrants could serve as indictments of a “racist,” “unequal,” and “unfair” America—as if the residents of East Palestine, Ohio or inner-city Chicago had anything to do with the centuries-long corruption and oppression of Mexico and Latin America that daily drives thousands of their own poorest citizens northwards to a society founded on very different ideas than those of their homelands.

    Note that the left, neither in Mexico nor in America, never asks why millions of these impoverished people prefer to break into a supposedly racist America. Much less do they even distinguish those principles and values that once made America prosperous, free, and secure from their antitheses that have sadly made much of Latin America mostly poor, without freedom, and insecure.

    Biden inherited near-zero real interest rates and inflation at 1.4 percent. Almost immediately, in nihilistic fashion, Biden did to a sound economy what he had done to a secure border. So, he recklessly printed money at a time of spiraling, quarantine-ending demand and supply chain disruption. Middle-class wages never caught up with Biden’s inflation, as prices for key staples are nearly 30 percent higher than when he took office.

    The cost of servicing the ballooning national debt at high interest is now nearly $1 trillion per year. The world abroad is aflame, lit by Biden’s inexplicable withdrawal from Kabul, his mixed signals to Vladimir Putin on the eve of his invasion of Ukraine, his deliberate alienation of Israel, his appeasement of Iran and China, and his cuts in the defense budget, coupled with his woke war on mythical “racists” in the military.

    Energy prices soared, even as Biden’s green agenda proved unworkable and prompted draining the strategic petroleum reserve and begging foreign oil despots before key elections. The “unifier” Biden by design needlessly alienated nearly half the country, and in his debate, he reiterated why Trump supporters do not deserve his concern. And more ominously and recently, Biden grossly told hundreds of his donors that “it’s time to put Trump in a bullseye”—just days before the attempt on Trump’s life.

    The greatest absurdity of the Biden White House is the gaslighting talk of Biden’s “achievements.” Biden’s actions over the last four years are not offsets for his senility that warrant his continuance in office, but again, sadly, they serve as force multipliers, furthering claims of his dementia and for his removal.

    Joe Biden is not just non compos mentis and in a sane world, he would be subject to 25th Amendment removal. He also increasingly seems unpleasant and obnoxious, if not sometimes simply weird. To achieve momentary clarity, Biden either shouts at his audience or stoops over and whispers in an eerie fashion.

    He insults reporters and his own staff. Every few sentences, without warning, he begins screaming. His face is fixed in a permanent, angry contortion. As a result, the public sees their president as an off-putting, angry old man—and in his selfish dotage, an increasingly unsympathetic one. Even after more than 40 months of media hagiography, Joe Biden still cannot poll over a 40 percent approval rating, given that his rudeness is fueled further by the day due to escalating mental confusion.

    Biden is, to be candid, a serial prevaricator. It is not just his ad nauseam repetition of Trump’s supposed slurs—the Charlottesville “both sides” lie, the “suckers” lie, or the “bloodbath” lie. He continues to peddle absolute falsehoods like the mythical nine-percent inflation he inherited and Trump’s supposed intention to ban all abortions, or his whopper that after welcoming in 10 million illegal aliens, Biden would have had a closed, secure border if not for those selfish Republicans who, for some reason, did not trust his ridiculous eleventh-hour, election-timed immigration proposal.

    When he hammers Trump as a “convicted felon,” Biden has no clue that a majority of Americans equate that charge with Biden’s own warped lawfare assault on ancient customs, as well as a reminder that his now closest advisor is likewise a “convicted felon.”

    When Biden rants near daily about the rich “paying their fair share,” he reminds us that his son is also facing federal tax evasion charges for unreported foreign income in the millions of dollars and that as soon as Biden himself leaves office, as a recipient of the same foreign cash, he may find himself in the same legal jeopardy. So, to use a Bidenism, “how dare he” accuse affluent Americans of the very crimes that his own family is knee deep in?

    Biden’s prefaces of “no lie,” “here’s the deal,” “no kidding,” and “no joke” are little more than tics that forewarn us of complete fabrications about to follow, from the ridiculous story of an uncle supposedly eaten by New Guinea cannibals to his supposed heroics during the Civil Rights movement and his near childhood adoption by various minority communities.

    In this regard, senility served oddly as a crutch for Biden. In the past, he paid dearly for his plagiarism, cheating, racist rants, and prevarications, losing three presidential bids and earning a reputation as the empty-suit blowhard of the Senate. Now his press handlers conveniently chalk up his long-standing habitual untruth as momentary mental “confusion.”

    Given all the above, remember that Biden was to be the “savior” of the Democratic Party. To this day, celebrities demanding his withdrawal from the race throw him the bone that “he saved the country by stopping Trump”—as if no wars, stability abroad, no inflation, low interest, and low energy costs were something to fear.

    Yet Biden’s four years pale in comparison to what in 2016 might have been a Harris, Buttigieg, Warren, Booker, or Sanders candidacy or presidency. No wonder Democrats concluded that there were no viable alternatives to a cognitively challenged Biden, precisely because Biden was the only available fig leaf to the new Democratic Party and its neo-socialist agenda—that, if transparent, would have terrified the country that it was soon to nearly destroy.

    Biden’s Democratic critics have it all wrong: removing Biden is wise and needed for the country’s sake, but it will not solve the growing public anger at the left. Without the veneer of even a tottering old Joe from Scranton, there will be no camouflage. And then, the true leftist agenda will be served raw to the American people—open borders, woke/DEI racial polarization, transgendered obsessions, inflation/stagflation, wars a plenty abroad, an inert Pentagon, unaffordable energy, partial-birth abortions, and crazy ideas like packing the court and making Puerto Rico and Washington, DC, states.

    So, what is the Democratic strategy to win the 2024 election?

    Certainly, an “open” convention would not produce a moderate Democratic nominee or even a suitable replacement façade. There are no moderates in contention. If there were any hale candidates to offer cover, the party would be in permanent war with its shrill and angry woke base. Joe is the last of his generation to offer a credible front. There are no more Diane Feinsteins or Bill Clintons to package the hard-left agenda. If Harris cannot serve as Biden’s replacement, someone like her or further to the left would appear on spec.

    The Democrats have no plans to run on their record.

    Their tripartite strategy is as simple as it is tired and worn.

    • First, expect a third chapter to follow the 2016 Russian collusion caper and the 2020 laptop disinformation ruse – likely some October revelation from the administrative state’s “experts” and “authorities” that Trump is a criminal, a traitor, or a spy or plans a coup, to destroy NATO or nuke something. Perhaps there is another Access Hollywood tape, a porn star on ice, anything to avoid discussing the damage done since 2017.

    • Second, there is still a last gasp to a dying lawfare. Never underestimate the last-gasp judicial effort to inactivate, gag, bankrupt, or jail Trump, however counterproductive such attempts so far have proved.

    • Third, when all else fails, remember that in many of the swing states, 70 percent of the electorate will not be voting on Election Day and will not be presenting IDs. Millions of their ballots will be harvested or cured by third-party activists. Last time around, the leftist journalist Molly Ball bragged about their “cabal” and “conspiracy” of big money and big tech that had “saved” Americans from Trump.

    Those post-election confessions were not just high-fiving but also a confident forewarning of what is to come.

    Tyler Durden
    Sat, 07/20/2024 – 23:20

  • Eric Weinstein: "It's The Communism Stupid"
    Eric Weinstein: “It’s The Communism Stupid”

    Eric Weinstein, a former managing director of Peter Thiel’s investment firm, Thiel Capital, took to X to explain one of the most under-discussed forces shaping the current US presidential election is the perception of communism.

    Weinstein said the Democratic Party does not identify as a communist. He noted that some see elements of the party’s agenda—such as DEI initiatives, social justice movements, and progressive policies—as precursors to revolutionary Marxism. This view fuels massive support for Donald Trump by notable individuals, such as the world’s richest man, Elon Musk, and his deep network of VCs with ‘enormous checkbooks.’  

    Weinstein said the belief is that the Democratic Party, by embracing progressive causes, is inadvertently promoting a communist agenda aimed at destabilizing capitalism and the American society. This view, although not widely accepted by corporate media, is a pivotal factor in Trump’s surging support. 

    Weinstein’s X post (emphasis ours):

    One of the most important forces shaping the current US presidential election is not being sufficiently discussed: COMMUNISM.

    Because the Democratic Party does not view itself in any way as communist, you can’t have a discussion about the role that communism is playing in support for Donald Trump. How can a Wall-Street friendly party favored by large institutions be communist!?!

    Okay. Begin by just stipulating that this is true for the sake of argument whether or not you agree with it.

    For the moment, imagine that you see all DEI as Marxist and Maoist. Imagine that you see AOC and the squad as communists. Imagine that what you see in terms of ‘social justice’ or ‘wokeness’ or ‘Postmodernism’ or ‘Gender affirming healthcare’ or ‘Palestinian Genocide’ or ‘Soros open society initiatives’ or ‘progressive DAs’ or ‘Anti-Whiteness’ or ‘defund the police’ is straight up precursor to *violent* revolutionary Marxism.

    The people crossing over to the cause of Trump with enormous checkbooks see this EXACTLY the way I have described in the above paragraph. You can pretend that this isn’t so. Maybe they won’t admit it to you or do so in public. But the stark truth of it is that what is driving a lot of surprising support for Trump and the Republicans has nothing to do with either. It’s not all about Trump. Or the GOP.

    It’s about Marx, Mao, Stalin, and Lennin. It is the idea that Revolutionary Marxism is a dangerous brain cancer that is always trying to get a foothold among the weak.

    The idea that is everywhere is this: “The Democratic party of the United States thought they could play with rebranded revolutionary Marxists as if the new communism were merely a form of socially conscious pro-market, pro-democracy liberalism, when it is instead a communist Trojan horse philosophy. It has as its aim, destabilizing and destroying our culture, the United States and then the world. This isn’t a culture war. It is the takeover of the United States by hardcore revolutionary neo-marxists who have come for your newspapers, universities, public schools and your children. The leaders who think they can reach out to ‘progressive’ voters do not realize that they are dancing with a devil who will outplay them.”

    Does that sound silly to you? Great. Glad to hear it.

    And, if so, you have absolutley no idea what is being discussed by many of the world’s smartest, most powerful and most influential people. Constantly.

    Why is this confusing? Well, no one I know sees Joe Biden as communist. They don’t even see the Democratic party leadership as communist. They view the party as opportunistic and naive in thinking that Democrats can allow violent pathological revolutionaries into the big blue tent with a simple coat of blue paint and a bargain basement rebrand to ‘Deconstruct the patriarchy’ and ‘Decolonize’, ‘Defund’, and otherwise ‘Reform’ our society while quietly waiting for their real moment.

    I’m sorry if this sounds funny to some of you who can’t imagine opposing Biden for these reasons. If so, it just means you have no clue…as in ZERO…as to what is going on in a pivotal part of the shift towards Trump.

    I just wanted to bring this up because it is barely being discussed in mainstream media:

    “It’s the Communism stupid.”

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    X users responded to Weinstein’s post: 

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    Tyler Durden
    Sat, 07/20/2024 – 22:45

  • COVID Social Distancing Linked To Newborn Mortality And Preterm Births, Study Finds
    COVID Social Distancing Linked To Newborn Mortality And Preterm Births, Study Finds

    Authored by Marina Zhang via The Epoch Times (emphasis ours),

    Pandemic social distancing is linked to higher rates of preterm births and newborn deaths within one to two months, according to a new study.

    (Alena Ozerova/Shutterstock)

    In a study published Thursday in JAMA Network Open, researchers at the University of Alabama at Birmingham (UAB) evaluated over 18 million births in Alabama from 2016 to 2020, comparing prepandemic years to the period after officials enacted public health restrictions in March 2020.

    The link was not immediately apparent. However, when researchers examined neonatal mortality and preterm rates two months after social distancing was implemented in the population, they found a link between the population’s social distancing behavior and neonatal mortality and preterm births. The neonatal period includes the first four weeks of a baby’s life.

    The study evaluated the “unanticipated effects” of social distancing on infant health outcomes, senior study author Dr. Vivek Shukla, a neonatologist and assistant professor in the UAB Division of Neonatology, told The Epoch Times via email.

    The clinician-researcher said that more research is needed to get a more nuanced understanding of these associations.

    “This study shows that, on a population level, there might be delayed effects of health interventions,” he said. “Sometimes the effects of measures are not evident on the first day the measures are implemented.”

    He added that the study only evaluated how social behavior might have related to health outcomes and did not examine how COVID-19 infections could affect a mother and her child.

    Fewer Prenatal Visits

    The authors said that their findings may be related to disrupted prenatal care and pregnancy complications.

    They observed that during the pandemic, there were fewer prenatal visits and medical checkups during pregnancy, which may have been linked to social distancing behaviors in the population.

    “These appointments are important to catch and address complications that could be life-threatening to both mom and baby,” co-author Dr. Rachel Sinkey, an associate professor in the UAB Division of Maternal–Fetal Medicine, said in a press release.

    According to the American Medical Association, 81 percent of physicians surveyed in July and August 2020 reported providing fewer in-person visits than before the pandemic. The average number of in-person visits fell from 95 to 57 per week.

    Additionally, disease rates, including gestational diabetes, gestational hypertension, and induction of labor, as well as neonatal intensive-care unit (ICU) admission, were higher during the pandemic.

    The study found that neonatal mortality rates were generally lower throughout the 2020 pandemic period, but there were slight increases in neonatal mortality and preterm births after the population became more adherent to social distancing practices.

    “COVID-19 affected the health care systems globally, and many lives were lost; it is important to learn from this experience to prepare better for possible future health crises,” said Dr. Shukla.

    “We need to understand how changes in health behavior affected outcomes, whether people had limited access to care or healthy habits were altered.”

    Further Research Needed

    Since the study is only observational, no causal conclusions can be drawn from its findings.

    “The results indicate a need for more in-depth studies on the unintended effects of pandemic-related health behavior changes,” Dr. Shukla said.

    Tyler Durden
    Sat, 07/20/2024 – 22:10

  • These Are America's Biggest Gambling States
    These Are America’s Biggest Gambling States

    In 2023, the “commercial gaming industry” which includes casinos and sports betting services collectively earned more than $66 billion, a 10% jump from 2022.

    In the following graphic, Visual Capitalist’s Marcus Lu ranks the top 10 U.S. states by the amount consumers spent on gambling in 2023.

    Data for this graphic and article is sourced from the American Gaming Association.

    Which State Has the Highest Gambling Spend?

    Unsurprisingly, Nevada attracts the most gambling spending in the country at $15 billion. However, Pennsylvania and New Jersey both saw over $5 billion spent in 2023.

    The top 10 states collectively accounted for 74% of America’s total gambling spending in 2023.

    Rank State 2023 Revenue YoY Change
    1 Nevada $15.5B +5%
    2 Pennsylvania $5.9B +10%
    3 New Jersey $5.8B +11%
    4 New York $4.7B +12%
    5 Michigan $3.6B +10%
    6 Ohio $3.3B +42%
    7 Indiana $2.8B -2%
    8 Louisiana $2.7B +4%
    9 Illinois $2.5B +18%
    10 Maryland $2.5B +14%
    11 Mississippi $2.5B -4%
    12 Iowa $1.9B +1%
    13 Missouri $1.9B +1%
    14 Massachusetts $1.7B +47%
    15 Colorado $1.5B +5%
    16 Virginia $1.1B +98%
    17 West Virginia $806M +7%
    18 Rhode Island $708M +3%
    19 Florida $691M 0%
    20 Arkansas $687M +12%
    21 Kansas $588M +23%
    22 Connecticut $580M +39%
    23 Arizona $557M +15%
    24 Delaware $507M +3%
    25 Tennessee $458M +21%
    26 New Mexico $271M +3%
    27 Maine $175M +6%
    28 Oklahoma $151M 0%
    29 South Dakota $148M +3%
    30 Kentucky $112M N/A
    N/A U.S. $66.7B +10%

    Note: Figures rounded.

    The American Gaming Association notes that the commercial gaming industry grew in 32 of the 36 states they cover in their report. Only Washington D.C., Florida, Indiana and Mississippi saw their gambling spending contract.

    Meanwhile, Kentucky legalized sports betting in 2023, (full casinos are still illegal) and immediately saw more than $100 million spent in the year. Ohio, Massachusetts, Nebraska, and Maine also legalized sports betting last year.

    Land-based “traditional” casinos also had a bumper year, attracting nearly $50 billion in gambling spending, up 3% compared to 2022.

    The gambling industry’s revenues have only been growing in the last few years. Access to platforms through smartphones, the 2018 Supreme Court decision that removed restrictions on sports betting, and the pandemic, have all contributed.

    Experts point out that while gambling is “a terrible get-rich-quick scheme for individuals,” it’s a “much better one for states.” Nevada, a state with little in natural resources, is a prime example.

    If you enjoyed this article, check out Visualizing the Tax Burden of Every U.S. State which measures the percent of an average person’s income paid towards local taxes.

    Tyler Durden
    Sat, 07/20/2024 – 21:35

  • Top US General Laments 'Failure' Of Yemen Operations As Putin Mulls Arming Houthis
    Top US General Laments ‘Failure’ Of Yemen Operations As Putin Mulls Arming Houthis

    Via Middle East Eye

    The top US commander in the Middle East warned Defense Secretary Lloyd Austin that the US’s operations against Houthi fighters in Yemen are “failing” to deter the Iran-backed group from attacking international shipping, The Wall Street Journal reported on Friday.

    In a classified letter, General Michael Erik Kurilla, the head of US Central Command (Centcom), suggested the US should take a more forceful approach against the Houthis, the report said. The letter comes amid fears that Red Sea tensions could draw in Russia. 

    The WSJ cited an exclusive article published by Middle East Eye last month which revealed US intelligence agencies learned Russian President Vladimir Putin has mulled arming Yemen’s Houthis with anti-ship cruise missiles.

    US Navy/DoD file image

    MEE revealed that Putin was dissuaded from the move by Saudi Arabia’s Crown Prince Mohammed bin Salman. “Putin engaged Mohammed bin Salman who requested them (Russia) not to pursue the arrangement,” the senior US official previously told MEE.

    According to The Wall Street Journal, the Biden administration still believes Putin could pursue the arrangement and is confidently trying to stop Russia from arming the Houthis.

    Fears about the Houthis’ access to potentially more sophisticated weapons are likely to grow, following a drone attack on Tel Aviv on Monday that killed one person and injured several others. The Houthis claimed responsibility for the strike.

    Ukraine and Red Sea

    Russia’s deliberations to step up its involvement adds a new dimension to the conflict. Moscow is upset with US and European military support for Ukraine. Putin said last month that Russia is considering providing long-range missiles to third countries to hit the assets of Nato countries.

    “There is a connection between Russia’s war on Ukraine and the Red Sea,” General Frank Mckenzie, the retired commander of US Central Command, told MEE.

    But aiding the Houthis is not straightforward for Moscow, which enjoys good ties to Sunni Gulf monarchies and Iran, the Houthis main foreign backer. Saudi Arabia and the UAE launched a campaign against the Houthis after Yemen descended into civil war in 2014 amid concerns a Houthi takeover of Yemen would install Tehran’s partners at their borders.

    The Saudi-led coalition launched thousands of air strikes on Yemen which failed to dislodge the Houthis but resulted in thousands of civilian deaths and a major humanitarian crisis. The Houthis responded by lobbing missiles and drones at civilian infrastructure in Saudi Arabia and the UAE.

    Since 2022, an uneasy truce has held between the Houthis and Saudi-backed forces, but Gulf states are alarmed about rising tensions in the Red Sea. The Houthis began attacking commercial ships in November, in what they said was in solidarity with besieged Palestinians in Gaza.

    List of new Houthi targets

    The attacks have upended global trade, forcing shipping companies plying goods between Europe and Asia to take a circuitous route around Africa to avoid Houthi attacks.

    The Houthis have also struck at the core of the US’s great power projection in the region: protecting sea lanes of communication. In January, the US began striking Houthi positions in response to the attacks. MEE reported previously that Houthi fighters have been tapping commercially available maritime intelligence to draw up their target lists in the Red Sea.

    The Houthis have at times hit vessels linked to Russia and Iran, but the group has promised the countries safe passage and has made a point of trying to avoid hitting their vessels, analysts and former maritime officials told MEE.

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    But former senior US officials who spoke to MEE said that within defense circles, there have been complaints that the Biden administration has restricted the US’s ability to hit the Houthis.

    The WSJ reported that Kurilla warned in his letter that “US service members will die if we continue going this way”, as he argued for a more forceful response to Houthi attacks. The report said that Centcom has been instructed to draw up a list of expanded targets, including specific Houthi fighters.

    Houthi attacks died down during the Muslim holy month of Ramadan, but as fighting between Hezbollah and Israel intensified in June, they have increased.

    Tyler Durden
    Sat, 07/20/2024 – 21:00

  • US-Japan Patriot Missile Production Hits Snag On Shortage Of Boeing Part 
    US-Japan Patriot Missile Production Hits Snag On Shortage Of Boeing Part 

    It has become apparent since the Russian invasion and resulting multi-year war in Ukraine that America’s stockpiles of ammunition, from shells to missiles, have been dangerously depleted, and there is a massive need to upgrade and expand weapon production capacity domestically and abroad in allied nations as the world quickly fractures into an uncertain and dangerous multi-polar state.

    This munitions deficiency endangers the US’ ability to fight future wars, and American dominance under the elderly President Biden has greatly suffered. Ronald Reagan would have been disgusted by Biden’s disastrous foreign policy moves, which have only stoked more chaos worldwide. 

    If Trump becomes president for the second time, he will likely restore a sense of American dominance and exceptionalism. This means modernizing America’s Armed Forces and, most importantly, ensuring the West has enough munitions and warfighting capabilities for future wars. 

    However, a new Reuters report suggests that production snags have already been developed in Japan to boost the production of Patriot air defense missiles.

    Sources say supply chain woes have made it challenging for Japan’s Mitsubishi Heavy Industries to boost Patriot missile production from 30 to 60 per year under a license from defense contractor Lockheed Martin. 

    This could complicate the US plan to increase Patriot missile production from about 500 yearly to more than 750. Sources say the hold-up in Japan is due to a shortage of a critical component manufactured by Boeing that guides the missile to the target in the final stages of flight. 

    “It could take several years before Mitsubishi Heavy Industries is able to raise output” because of the shortage, one of the industry insiders told Reuters. 

    Last year, Boeing began expanding the capacity of the seeker technology in the US, with an annual increase of the critical component reaching about 30%. However, the new production lines won’t be operational until 2027. 

    “The production snag in Japan shows the challenges Washington faces in plugging industrial help from its global allies into its complex supply chains,” Reuters pointed out.

    Tyler Durden
    Sat, 07/20/2024 – 20:25

  • Carnegie Mellon University Prof Says Trump Assassination Attempt Was "Staged" Like "Stupid Tubi Movie Set"
    Carnegie Mellon University Prof Says Trump Assassination Attempt Was “Staged” Like “Stupid Tubi Movie Set”

    By Emma Arns of CampusReform

    A professor at Carnegie Mellon University took to social media after the assassination attempt of former President Donald Trump and suggested that the shooting was “staged,” suggesting that the shooter was part of a “stupid show.”

    Uju Anya, an associate professor of second language acquisition at Carnegie Mellon University, made the comments just hours after the attempted assassination.

    “People dying doesn’t make the attack any less staged. Someone who thought the attack was real could’ve killed others trying to prevent harm. Also, someone could’ve shot the shooter to hide the plot,” associate professor of second language acquisition, Uju Anya, tweeted.

    “Politicians kill all the time and kill many more people to steal power,” she added. “And people died behind this farce. Actual people’s lives gone for them to stage this stupid show.”

    Anya currently teaches and conducts research primarily “examining race, gender, sexual, and social class identities in new language learning through the experiences of African American students,” according to her website. 

    “It was staged. Like a stupid Tubi movie set in the Bronx with palm trees in the background,” she added.

    “They lie, and people die. That’s exactly what they do. That’s the record. Whatever ‘attack’ on him they set up to stoke his followers’ fears and sentiments, threat and persecution has now cost lives,” Anya said.

    When an X user commented “someone is dead,” Anya responded, “a dead person can’t reveal the setup.”

    Trump was grazed by a bullet Saturday at his Pennsylvania rally. The gunman was taken down by Trump’s Secret Service team, and Corey Comperatore, an attendee, was killed.

    Anya considers herself an “antiracist” a “feminist” and an ally of the LGBT+ community, as referenced in her X account biography.

    She is also the author of two books, “Racialized identities in second language learning” and “Racial equity on college campuses”.

    Campus Reform has reached out to Anya and Carnegie Mellon University for comment. This article will be updated accordingly.

    Tyler Durden
    Sat, 07/20/2024 – 19:50

  • If You're Going To Take A Bribe (You Shouldn't), At Least Get Gold
    If You’re Going To Take A Bribe (You Shouldn’t), At Least Get Gold

    Authored by Mike Maharrey via Money Metals,

    On July 16, a jury convicted Senator Bob Menendez (D-N.J.) on 16 counts, including wire fraud, bribery, and extortion.

    According to the indictment, the senator and his wife took bribes, including 13 gold bars, from New Jersey businessmen with Egyptian ties. 

    According to court documents, the Sen. and Mrs. Menendez accepted the gold, along with cash and an automobile from three prominent Egyptian businessmen in exchange for the senator’s influence. Menendez also allegedly provided “sensitive U.S. Government information and took other steps that secretly aided the Government of Egypt,” as part of the bribery scheme. 

    According to the indictment, a June 2022 raid at the couple’s New Jersey home found “over $480,000 in cash – much of it stuffed into envelopes and hidden in clothing, closets, and a safe.” Police also found two 1-kg gold bars along with 11 1-ounce gold bars.

    At the time of the indictment, U.S. Attorney Damian Williams said Menendez and his wife wielded “power and influence to protect and enrich the businessmen and benefit the government of Egypt.”

    After the conviction, Williams said, “This case has always been about shocking levels of corruption.  Hundreds of thousands of dollars of bribes, including gold, cash, and a Mercedes-Benz. This wasn’t politics as usual; this was politics for profit.”

    Menendez continues to maintain his innocence, saying he was “deeply disappointed” in the jury’s decision. 

    “I have never violated my oath. I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent,” he said.

    Menendez’s attorney claimed the cash and gold weren’t bribes but gifts to the couple in “lean times.” In his closing arguments, he asserted, “His actions were lawful, normal, and good for the country.”

    Gold: A Solid Bribe

    If you’re going to accept a bribe (and you shouldn’t) getting it in gold is the way to go.

    According to the indictment, “Multiple gold bars provided by Daibes (one of the Egyptian businessmen) were found during the court-authorized June 2022 search of the couple’s home.” It also says the senator performed a web search for “how much is one kilo of gold worth.”

    At the time of the indictment in June 2022, the spot price of gold averaged around $1,800 an ounce. Menendez received just over 81 ounces of gold in the bribery scheme. At the June 2022 price, it was worth over $145,800. 

    Here’s the kicker – gold holds its value and even appreciates over time. Unlike the $480,000 in cash Menendez received, the gold is worth a lot more today than it was then.

    Today, those gold bars are worth $200,475. That’s a 37.5 percent increase!

    Meanwhile, the $480,000 in 2022 cash is only worth $452,755 today thanks to price inflation.

    During the Republican Convention, Rep. Matt Gaetz (R-Fla.) quipped, “Inflation has gotten so bad, you can no longer bribe Democrat senators with cash alone. You have to use gold bars just so the bribes hold value.”

    Gaetz has a point. If you’re going to take a bribe (don’t), get it in gold.

    There are some other advantages of getting bribed in gold instead of dollars. It effectively packs a lot of dollars into a very small space. It’s easy to store and transport. It’s virtually impossible to destroy. Gold is also liquid. Menendez wouldn’t have had any problem selling his gold bars — if he had not gotten nailed by authorities.

    One word of caution: if you accept gold as a bribe (don’t) you should make sure the gold is real. There are a lot of shady people out there, and let’s be honest, if someone is offering you a bribe, they’re probably shady. So, you want to be careful so you don’t get scammed.

    Let me be clear: you really shouldn’t take bribes. But if you do (don’t), get it in gold. It will maintain its value over time even in this crazy world of inflation!

    Tyler Durden
    Sat, 07/20/2024 – 18:40

  • White House Mulling Sanctions On Hardline Israeli Ministers Smotrich & Ben-Gvir
    White House Mulling Sanctions On Hardline Israeli Ministers Smotrich & Ben-Gvir

    The White House has over the last several months imposed a series of sanctions against small Israeli settler groups accused of committing human rights abuses against Palestinians and of stealing land. These are so limited (largely amounting to restrictions on travel to the US) that they are largely seen as merely symbolic.

    There are new reports in Israeli media saying the Biden administration is mulling a big next step: sanctioning top Israeli government ministers who are known to encourage and support radical settler groups in the West Bank.

    Via Flash90

    The Jerusalem Post reports that Biden’s National Security Council held a meeting days ago to discuss strategies to thwart expanding Jewish settlements in the West Bank.

    Among the plans reportedly discussed was the possibility of sanctions on hardline and outspoken Netanyahu coalition ministers Bezalel Smotrich and Itamar Ben-Gvir. Not only have these two officials frequently made incendiary remarks seen as exacerbating the Gaza crisis, but they openly encourage Israelis to move in on Palestinian land.

    The two actually oversee Israeli government policy in Judea and Samaria, where some of the most extreme settler groups have a significant presence.

    Ben-Gvir and Smotrich have also regularly denounced the ‘weakness’ of Biden administration policy on the Gaza crisis in the wake of the Oct.7 terror attacks on southern Israel. 

    The have both claimed that Biden is ‘helping Hamas’:

    Finance Minister Bezalel Smotrich stated bluntly that the strong American opposition would only reinvigorate Israel’s drive to eliminate Hamas.

    “We must continue this war until victory, despite, and to a certain extent precisely because of, the opposition of the administration Biden and the stopping of arms shipments,” he said in a statement. “We simply have no other choice that does not endanger our existence and security.”

    National Security Minister Itamar Ben Gvir, a firebrand who leads the far-right Otzma Yehudit party, tweeted simply that “Hamas [loves] Biden.”

    With Prime Minister Benjamin Netanyahu expected in Washington next week, where he’ll address Congress and likely meet with President Biden, the US will more than likely not trigger a full-on diplomatic crisis with its closest regional ally by sanctioning its top ministers at this time.

    Relations have already been tense of late…

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    A possible future Trump administration would also surely reverse any possible sanctions. Trump’s team has vowed to given Israel whatever it needs to eradicate Hamas and Palestinian Islamic Jihad (PIJ) in the ongoing Gaza operations.

    Tyler Durden
    Sat, 07/20/2024 – 18:05

  • "Vast DEI Bureaucracy" Hurting U.S. Armed Forces; ASU Study Finds
    “Vast DEI Bureaucracy” Hurting U.S. Armed Forces; ASU Study Finds

    By Cameron Arcand of The College Fix

    A new Arizona State University study suggests that Diversity, Equity and Inclusion efforts in the United States military are ineffective.

    The study done by the university’s Center for American Institutions argued that there is a emphasis on training new soldiers about social issues like “unconscious bias” and “intersectionality” in a way the center says runs contrary to typical American ideals. The study examined DEI plan’s in different sector of the military, including DEI office staffing and education at academies like West Point.

    “The massive DEI bureaucracy, its training and its pseudo-scientific assessments are at best distractions that absorb valuable time and resources,” the executive summary states. “At worst they communicate the opposite of the military ethos: e.g. that individual demographic differences come before team and mission.”

    Donald Critchlow, director of the center, wrote in the introduction it was focused on looking at the influence of Critical Race Theory in the United States Armed Forces training.

    “The Commission on Civic Education in the Military began as a project to review civic education in the military. Our research team did not expect to find Critical Race Theory so embedded and pervasive. Diversity, Equity, and Inclusion programs are found throughout the U.S. Armed Forces and our service academies,” Critchlow wrote. “This year long study documents just how pervasive these training programs are in our Armed Forces and Service Academies and that DEI extends well beyond just formal training programs in the military and service academies.”

    “The Founders of our nation understood and feared a politicized military. History had shown them that a politicized army easily became the tool of tyranny. The Armed Forces of the United States has proudly upheld this long tradition of separating mission from politics,” he continued.

    In terms of recommendations, the study suggests that DEI offices be completely scrapped, but said it may be politically unlikely for the time being.

    “The surest way to eliminate the concerning trends we have identified, and the growth of race and sex-based scapegoating and stereotyping in the U.S. military, is to altogether end the DEI bureaucracy there,” the study states. “However, until such a time as the executive or legislative branches of the government choose to end the DEI bureaucracy in our federal agencies and military, we are left to advocate the pursuit of alternative avenues that may affect positive change despite existing policies.”

    They also suggested the military prioritize civic education with a focus on “America’s commitment to freedom and opportunity.”

    The study comes as some branches of the military continue to struggle with recruiting new service members.

    Tyler Durden
    Sat, 07/20/2024 – 17:30

  • Bangladesh Issues 'Shoot-On-Sight-Order' As Deadly Student-Led Protests Spiral
    Bangladesh Issues ‘Shoot-On-Sight-Order’ As Deadly Student-Led Protests Spiral

    Weeks-long protests in Bangladesh led by students have descended into increasing violence amid severe economic woes and a new controversial law widely seen as unfairly rewarding supporters of Prime Minister Sheikh Hasina’s Awami League party with lucrative government jobs.

    Since early June, campus-based protests have called for a complete shutdown of the country until the new policy is repealed. A High Court ruling at the start of the summer came down in favor of a quota system which secures 30% of government jobs for family members of veterans who fought in Bangladesh’s 1971 war of independence from Pakistan.

    Getty Images

    The student protesters have demanded a system based on merit. A series of initially peaceful university protests resulted in increasingly chaotic scenes and clashes with police, resulting in casualties. From there protests have grown nation-wide.

    Deaths among protesters have grown into the dozens, with the police reporting casualties as well. Some reports say over 100 demonstrators have died and that this figure is climbing by the day.

    Communications have been intermittently disrupted for the nation of 170 million people as authorities desperately try to gain control of the situation.

    Authorities have also escalated, as of Saturday allowing security forces to use live-fire to put down protests:

    Police imposed a strict curfew with a “shoot-on-sight” order across Bangladesh as military forces patrolled parts of the capital Saturday after scores were killed and hundreds injured in clashes over the allocation of civil service jobs.

    The curfew began at midnight and was relaxed from noon to 2 p.m. for people to run essential errands, and is expected to last until 10 a.m. Sunday, allowing officers to fire on mobs in extreme cases, said lawmaker Obaidul Quader, the general secretary of the ruling Awami League party.

    Police and military checkpoints have been set up in the streets of the capital Dhaka in order to enforce the curfew.

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    It’s essentially a state of martial law, with one eyewitness saying, “The public is anxious as people didn’t expect the army to be deployed. But some people are also relieved because there is a great deal of respect for the army in Bangladesh.”

    And an Al Jazeera correspondent has described, “There are a lot of ordinary people who are supporting the students. There’s a great degree of frustration in the country right now and many people don’t accept this government and feel like the prime minister came to power by force.”

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    The government has meanwhile accused opposition parties of stoking the unrest, and has condemned the destruction of property and further pointed out some 300 police officers have been injured.

    Tyler Durden
    Sat, 07/20/2024 – 16:55

  • "Many Educators Portrayed Trump As An Existential Threat. Moving Forward, A Narrative Shift Is Essential"
    “Many Educators Portrayed Trump As An Existential Threat. Moving Forward, A Narrative Shift Is Essential”

    By Jared Gould of Minding the Campus

    American Education: Public, Popular, And Polarizing

    We may never know what motivated Thomas Matthew Crooks to become Trump’s would-be assassin, but as we seek answers, we must recognize the role educators across the country have played in perpetuating a discourse that fuels animosity and normalizes political violence. Specifically, many educators have portrayed Trump as an existential threat to America. Moving forward, a narrative shift is essential.

    Days before the attempted assassination, retired Seattle teacher Michael McSweeney penned an editorial in the The News Tribune, expressing concern that Trump may win the presidency again, issuing a dramatic “apology” to former students, admitting he had misled them about the U.S. government’s checks and balances. “I lied to you because I never could have imagined one person as evil and dangerous as Trump could ever be elected president,” McSweeney wrote, echoing the ideological stance many educators have taken since Trump rode the golden escalator.

    In 2016, when I was a freshman history student at the University of Southern Mississippi, professor Dr. Tyler used her lecture on World War II to draw a comparison between Trump’s “Make America Great Again” slogan and Hitler’s rhetoric, alleging that Hitler said, “Make Germany Great Again.” How could impressionable students interpret this intellectually dishonest comparison as anything other than equating Trump with an evil dictator?

    This sentiment wasn’t unique to my college in South Mississippi.

    A year later, College Fix reported that University of Southern California professor Charles H.F. Davis defended controversial tweets that included obscenities directed at President Donald Trump and calls for the destruction of “whiteness” and the “white supremacist heterosexist patriarchy.” Davis, then an assistant professor and Chief Strategy Officer at the USC Race and Equity Center, argued that Trump’s rhetoric and policies embody oppressive systems. His Twitter background photo showed a black woman shooting a pig dressed in a police uniform.

    Even after the horrific events of this past weekend, this rhetoric persists. 

    Louise A. Kelly, an associate professor of exercise science at California Lutheran University, posted on Facebook her hope for another assassination attempt, even wishing to assassinate Trump herself. Stacey Patton, an associate professor at Morgan State University, wrote that she hoped the attempt was successful and argued that killing Trump would be justified because “Republicans are racist”—minorities did incredibly well under the Trump administration.  

    The same rhetoric surfaced in Crooks’s neck of the woods. In 2019, a Pennsylvania middle school teacher had to apologize to parents after assigning homework in which students pretended to be refugees amid a scenario where President Trump was attempting to seize control of the country.

    Without a doubt, this education has profoundly warped the minds of young people everywhere.

    A young TikTok user recorded herself screaming into her phone, angry that Crooks missed. In an interview by Timecast News another seemingly young woman, who claimed to be born in the Soviet Union and has a hammer and sickle tattoo on her shoulder, says, “It’s a shame the person missed.” Others have recorded themselves summoning John Wilkes Booth, whose spirit might help a future assassin. 

    This should surprise no one. Educators have contributed, in the most inappropriate ways, to our political discourse. If anything, the attempt on Trump’s life is a clear wake up call that educators must change their tone.

    Amidst dangerous rhetoric and ideas, educators should uphold our republic’s principles. Political differences and passionate debates should not escalate to violence; instead, educators should inspire civil discourse, respectful disagreement, and peaceful solutions.

    I hope the trail ahead is better. 

    Tyler Durden
    Sat, 07/20/2024 – 16:20

  • Speaker Johnson Threatens To Arrest Lawmakers Who Disrupt Netanyahu's Congress Speech
    Speaker Johnson Threatens To Arrest Lawmakers Who Disrupt Netanyahu’s Congress Speech

    Israel Prime Minister Benjamin Netanyahu is set to address Congress at the invitation of Republicans on July 24. Several Democratic lawmakers have announced their intent to boycott the speech, citing what they say are ongoing human rights abuses and war crimes by the Israeli military (IDF) in Gaza.

    Additionally, this week 230 anonymous staff members have signed a letter urging a Congressional protest or boycott. According to The Hill, this includes staff from Republican congressional offices as well… “across 122 Democratic and Republican offices,” it says. The letter was organized by the Congressional Progressive Staff Association.

    House Speaker Mike Johnson has put the body on notice, threatening to arrest anyone who is protesting or displaying unruly behavior. 

    Via AP

    “There are a number of Democrats in the House who have said they’re going to boycott that event. Some others may protest,” Johnsons told an audience of the Republican Jewish Coalition on the sidelines of the Republican National Convention in Milwaukee earlier this week.

    “We’re going to have extra sergeants at arms on the floor. If anybody gets out of hand… We’re going to arrest people if we have to do it,” he added.

    As for the Congressional Progressive Staff Association’s letter, it reads as follows: 

    “Citizens, students, and lawmakers across the country and the world have spoken out against the actions of Mr. Netanyahu in his War on Gaza,” the letter says.

    “Israelis have been protesting in the streets for months, decrying his failure to negotiate a ceasefire and release of hostages. We hope you will join your fellow Members of Congress in protest at his speech or in refusing to attend it.”

    There are some 100 members of the Congressional Progressive Caucus in the House and Senate, and the majority or even all of them are expected to boycott or possibly protest the speech. The Council on American-Islamic Relations (CAIR), the country’s largest Muslim civil rights organization, have called on Congressional security officers to refuse Johnson’s directive.

    In the wake of Johnson’s crackdown threat, some pundits have highlighted that he’s a big recipient of funds from America’s foremost Israeli lobby…

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    It remains an open question whether Netanyahu will meet with President Biden, given especially his Covid diagnosis amid the full-blown White House crisis of his staying the course and running again. 

    Biden is meanwhile under pressure to show some serious progress in Doha-sponsored peace talks. On Friday there are once again claims that the two sides are at the “goal line” of reaching a deal, but similar headlines have been echoed on and off again for months. 

    About 120 hostages remains in Hamas and Islamic Jihad (PIJ) captivity, and Netanyahu too has faced immense domestic pressure to achieve a ceasefire deal and gain freedom for the captives. 

    Tyler Durden
    Sat, 07/20/2024 – 15:45

  • Gov. Pritzker's Role In The Extreme Rhetoric Surrounding Donald Trump
    Gov. Pritzker’s Role In The Extreme Rhetoric Surrounding Donald Trump

    By Ted Dabrowski and John Klingner of Wirepoints

    The language of politics is nasty and in recent years it’s become extreme. Many even link the assassination attempt on Donald Trump to the rhetoric that’s enveloped this presidential election. We won’t go that far, as vile language does not equal assassination attempts and free speech deserves to be fiercely protected, no matter how offensive it may get between politicians.

    But what can’t be ignored is the damage done to the social fabric of the nation by the name-calling that condemns massive swaths of the American population as racist, fascist or a “threat to our country,” which our own governor is guilty of doing. In the last two years, Gov. J.B. Pritzker has increasingly betrayed his own ideology of “inclusiveness” with a growing attack on nearly half the country. His vitriol has become destructive.

    Gov. Pritzker is a leading voice in today’s Democratic Party and a major surrogate for President Biden and his own messaging. Pritzker’s words matter. When he calls Trump a “threat to our democracy” and accuses him of fascism and authoritarianism, Pritzker knows he’s effectively labeling the 70 million-plus MAGA Republicans the same because of their support for Trump. It’s not the name-calling itself that matters, but rather the impact such language has on the left. Pritzker is telling his half of the country there should be and can be no compromise, no cooperation with the other “fascist” half. It’s polarizing to the extreme.

    Pritzker’s rhetoric became more extreme when he began hinting at presidential ambitions. During his first presidential preview speech in New Hampshire, he remarked: “Let me be clear, I loathe Donald Trump. Every stump speech I delivered in my 2018 campaign began with ‘Everything we care about is under siege by a racist, misogynist, homophobic xenophobic president.’” The crowd cheered, and since then he’s upped his rhetoric even further.

    Pritzker’s latest speeches and tweets go so far as to call Trump a “threat to the nation” as well as declare “right wing extremism” a threat to “our democracy and our freedoms.” Today, the governor is the Democrats’ main attack dog, if the New York Times headline “This Top Democrat Is Leading His Party’s Attack on Trump as a Felon,” is any indication.

    Pritzker’s personal attacks against Trump have escalated to tying MAGA to fascism. Just last year, the governor told listeners at the Illinois state fair: Illinois Democrats have done more in the last five years to push back on the wave of authoritarian, anti-democratic MAGA Republican nonsense than in any other place in the country…leave it to us to raise the tallest flag in the fight against modern American fascism.” 

    Pritzker also accused MAGA Republicans of stirring up hatred after his Chicago home was vandalized in October of last year: “The divisions across the country, which are being fomented by the MAGA Republicans led by their MAGA Republican leader Donald Trump, are causing people to feel that there’s a hatred, that it’s okay to act upon if they disagree with you on an issue.” 

    Even disagreements on policy issues are now an existential threat to democracy. Think Big America, Pritzker’s national abortion-rights organization, declared “Far-right extremism” – defined as “being against abortion” now “threatens our democracy and our freedoms.” 

    And Trump himself is a “threat” to the country, according to Pritzker: “Donald Trump is a racist, a homophobe, a grifter and a threat to this country. He can now add one more title to his list — a felon.”

    Pritzker has been relentless. Just a month before the fateful Trump rally in Pennsylvania, the governor tweeted his longest list of invectives yet: “Donald Trump is a convicted felon, an adjudicated rapist, and a congenital liar. He’s a racist, sexist, misogynistic narcissist who wants to use the levers of power to enrich himself and punish anyone who dares speak a word against him.”

    The attempted assassination has caused the Democratic Party and Gov. Pritzker to pull their punches – at least for now. They’ve canceled a planned series of attack ads that were set to run during the Republican National Convention. And Pritzker’s own planned appearance in Milwaukee has also been scrubbed.

    The peace won’t last long. Gov. Pritzker’s national image – and his potential hopes for the presidency – are too closely entwined with his anti-Trump crusade for him to abandon it for long. 

    In fact, the governor was already back to the personal insults just three days after the assassination attempt:

    “I have never, and never would call for any political violence. And you can take that to the bank. That’s not anything that I’ve ever advocated. I think that there’s always hot competition in the world of ideas, in the political world. And so we all advance our own ideas and when their ideas are bad ones, we call them out.

    But it’s still true that Donald Trump is a convicted felon, an adjudicated rapist, has been a congenital liar and is unfit for the office of President of the United States.”

    Not even an assassination attempt can temper Gov. Pritzker. That’s quite revealing.

    Tyler Durden
    Sat, 07/20/2024 – 15:10

  • Trump Tells Zelensky He'll "Bring Peace" In "Very Good Call"
    Trump Tells Zelensky He’ll “Bring Peace” In “Very Good Call”

    Former President Trump has again declared he will “bring peace” following a rare phone call with Ukrainian President Volodymyr Zelensky on Friday, which comes as world leaders prepare for a likely second Trump administration. 

    Trump in a readout hailed it as a “very good phone call” wherein Zelensky congratulated him on a “very successful” Republican National Convention and becoming the Republican nominee for US President.

    Zelensky during the call condemned the “heinous” assassination attempt which targeted Trump, slightly wounding his ear, and praised American unity in the aftermath.

    Trump apparently pushed a theme of the urgency of negotiations to end the war with Russia in the call:

    “I appreciate President Zelenskyy for reaching out because I, as your next President of the United States, will bring peace to the world and end the war that has cost so many lives and devastated countless innocent families,” Trump wrote.

    “Both sides will be able to come together and negotiate a deal that ends the violence and paves a path forward to prosperity.”

    Zelensky similarly shared on X that he wished the former president and Republican nominee “strength and absolute safety in the future.”

    “I noted the vital bipartisan and bicameral American support for protecting our nation’s freedom and independence,” Zelensky said. “Ukraine will always be grateful to the United States for its help in strengthening our ability to resist Russian terror.”

    He also said he agreed with Trump to at some point discuss “at a personal meeting what steps can make peace fair and truly lasting.” In general, the Ukrainian side liked what it heard, and responded positively, per Politico:

    A person close to Zelenskyy who requested anonymity to discuss the private conversation said it went “exceedingly well” and that Trump pledged to “achieve a just peace in Ukraine” if he wins back the White House.

    Zelensky and his top officials within the last year have excoriated peace proposals and statements coming from Trump and his team, earlier strongly suggesting Trump is naive. The Ukrainian leader has more than once even invited Trump to come to his war-ravaged country in order to “see for himself” the nature of Russia’s war there.

    NATO at the same time has sought to “Trump-proof” the alliance’s long-term funding commitments to Ukraine, on fears that Washington support could soon drastically pull back. Trump has in the past blamed Biden’s weak standing on the world stage for allowing the Russian invasion to happen in the first place.

    Tyler Durden
    Sat, 07/20/2024 – 14:35

  • Putting The National Debt Into Perspective We Can All Understand
    Putting The National Debt Into Perspective We Can All Understand

    Authored by Mike Maharrey via Money Metals,

    The federal government ran another big deficit in June, as the national debt inches closer to $35 trillion.

    $35 trillion USD.

    Trillion with a ‘T.’ 

    That’s an unfathomable number. It’s meaningless to most people. We simply can’t comprehend a number that big.

    Let’s try to put the $34.9 trillion national debt into perspective.

    According to the National Debt Clock, every American citizen would have to write a check for $103,565 to pay off the national debt. 

    Of course, a lot of people don’t pay taxes. That means the taxpayer burden is much higher. Every U.S. taxpayer would have to write a check for $266,953 to wipe out the debt.  And that’s on top of the taxes we already pay!

    To put it another way, $35 trillion is more than the total economies of China, Japan, Germany, and the UK combined.

    Visualizing 1 Trillion

    1,000,000,000,000

    It’s hard to wrap your head around how big 1 trillion is, much less 35 trillion. Here are a few factoids to help you visualize just how big that number is:

    • There are 1 million seconds in 11.5 days. A trillion seconds is about 32,000 years. 
    • If you could say one number every second, it would take about 11.5 million days to count to 1 trillion. 
    • If you had spent $1 million every day since the birth of Christ, you still wouldn’t have spent $1 trillion.
    • If you line up dollar bills end-to-end, you could go to the moon and back around 203 times with $1 trillion. You could wrap them around the earth about 3,893 times.
    • If you stacked up 1 trillion dollar bills, the dollar tower would rise to 67,866 miles.
    • If a cup of coffee costs $3, you could buy 333 billion cups of coffee with $1 trillion. 
    • If you had 1 trillion dollars, you could give every person on Earth approximately $125.
    • One trillion grains of rice would weigh about 20,000 metric tons. 

    Keep in mind that all of these examples only illustrate the size of $1 trillion. The national debt is nearly 35 times that number.

    James Madison once called a large national debt a “public curse.”

    “I go on the principle that a Public Debt is a Public curse and in a Rep. Govt. a greater than in any other.”

    We’re certainly cursed to the tune of $35 trillion USD.

    Thomas Jefferson said he considered “public debt as the greatest of the dangers to be feared.”

    In his Farewell Address, George Washington urged us to use debt sparingly – and, get this, actually pay it off as quickly as possible!

    “As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible, avoiding occasions of expense by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it.”

    We failed to heed the warning of the Anti-federalist writer Brutus.

    “I can scarcely contemplate a greater calamity that could befall this country, than to be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction.”

    And here we are.

    Tyler Durden
    Sat, 07/20/2024 – 14:00

  • Israeli Jets Strike Houthi-Controlled Port City Following Tel Aviv Drone Attack
    Israeli Jets Strike Houthi-Controlled Port City Following Tel Aviv Drone Attack

    For the first time since the Israel–Hamas war erupted last October, the Israeli military has deployed fighter jets to strike Iran-backed Houthi rebels in Yemen. This action follows an incident where the rebels penetrated Tel Aviv airspace with a kamikaze drone (also for the first time) on Friday, resulting in the death of one civilian. 

    Huthi official Mohammed Abdulsalam posted on social media that a “brutal Israel aggression against Yemen” had just occurred. He noted that the airstrikes hit “fuel storage facilities and a power plant” in the Yemeni port of Hodeida “to pressure Yemen to stop supporting” Palestinians in the Gaza war. 

    Footage of the attack has surfaced on X by early Saturday afternoon. 

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    Axios reports US and Israeli officials confirmed the Israeli Air Force strikes in retaliation for the Houthi drone strike in Tel Aviv on Friday morning, killing one and wounding eight more. We noted that this Houthi drone strike risked “sparking escalation of warfare between Yemen’s Houthis, Hezbollah, and the State of Israel.”

    “This attack makes it crystal clear to the Houthis and Iranians that strategic, energy-linked economic targets are fair game in retaliation for attacks on Israeli strategic locations like Tel Aviv,” Scott Modell, CEO of Rapidan Energy Group, tells us. 

    Modell points out, “The Houthis are really taking a big risk because any tankers who supply them will now be in the crosshairs for retaliatory attacks by Israel. The US & NATO allies will continue to do practically nothing.” 

    Mario Nawfal on X points out that Israel destroyed Yemen’s main port: 

    Israeli airstrikes on Hodeidah port reportedly killed dozens and crippled the Houthis’ ability to unload containers. Hodeidah port is a crucial lifeline for Yemen, handling 70% of the country’s imports, including vital humanitarian aid. This strategic blow aims to disrupt supplies and intensify pressure on Yemen.

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    Axios cited a senior Israeli official who said the strike on the port was ‘purely Israeli action.’ 

    “This was a targeted operation at the port of Hodeida. We carried out the strike after many months of restraint in the face of Houthi attacks that included the firing of dozens of items, including surface-to-surface missiles,” the official said.

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    Furthermore, Houthis have been increasing their aerial and surface drone attacks on the critical maritime chokepoint in the southern Red Sea, which has disrupted global shipping, sending the capacity of containers lower while pushing freight costs higher. The Biden administration’s Operation Prosperity Guardian has failed to secure the maritime route so far.  

    Sigh… 

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    *This story is developing. Please check back for updates. 

    Tyler Durden
    Sat, 07/20/2024 – 13:30

  • Court Blocks Ariz. Illegals From Registering To Vote… Until September
    Court Blocks Ariz. Illegals From Registering To Vote… Until September

    Authored by Jacob Burns via Headline USA,

    A voting sign points voters in the right direction to drop off early ballots in Phoenix. / PHOTO: AP

    In a decision released Thursday, the 9th Circuit Court of Appeals determined that illegal immigrants were not allowed to vote in Arizona.

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    However, the ruling will apply only through the primary elections, Votebeat Arizona reported.

    With an appeals court scheduled to hear the case in September, it leaves open the possibility that the Gov. Katie Hobbs’s outrageous election-law loophole to let illegals vote in federal races may yet be reversed ahead of the Nov. 5 general election, with little time left afterward to seek additional remedy.

    The current Arizona law inexplicably requires proof of citizenship for state elections but not for federal ones. With Democrats currently in control, recent advertisements actively encouraged illegal immigrants to fill out applications for ballots, warning them that without ID they would only be sent the federal ballot.

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    The 9th Circuit’s temporary stay requires those registering to vote in the state have to provide proof of citizenship for federal elections as well.

    The Circuit Court in any case reversed the decision of a lower court, which had argued that the National Voter Registration Act preempted the need for proof of citizenship with respect to voting in federal elections in particular, even if the State of Arizona could still require it for state and local elections.

    Arizona State Senate President Warren Petersen said the ruling was a victory for those who care about free and fair elections.

    “Only U.S. citizens should be allowed to vote in our elections,” he wrote in response.

    “It sounds like common sense, but the radical left elected officials in our state continue to reject this notion, disrespecting the voices of our lawful Arizona voters.”

    According to Petersen, however, the only way to adequately address the issue in the long run is for the United States Congress to act.

    “We are grateful the court is upholding this provision in our law, and it’s time for Congress to take action to ensure only lawful U.S. citizens are voting in federal races,” he concluded.

    Not all were pleased with the ruling. Progressive Arizona election lawyer Jim Barton called the ruling “bad news,” because it may mean lower voter turnout if only citizens can vote.

    Tyler Durden
    Sat, 07/20/2024 – 12:50

  • We Are On The Edge
    We Are On The Edge

    Submitted by QTR’s Fringe Finance

    At the beginning of the year, I not only laid out 24 stocks that I would be watching for the year based on what I thought the macro environment would do, but I also detailed gold and miners as what I would buy if I had to narrow things down to one trade only.

    It’s been a great first six months for this potential trade, with the VanEck Gold Miners ETF (GDX) up about 24% and the SPDR Gold Shares (GLD) ETF up about 19%, roughly the same as spot gold which opened January at $2062 and now sits over $2470.

    I was reading the news last night and, taking into account how odd trading in the market has been over the last two sessions, I presented myself with the same question:

    If I had to put on one trade right now for the rest of the year and narrow it down to one position, what would I do?

    I think the answer is simply that it would be long volatility or long the VIX in some way right now. Not only are we simply due for an enormous spike in the VIX, but there’s also no shortage of catalysts that can make it happen over the next six months, in my opinion.

    We took the next step in the President Joe Biden freak show yesterday when, just six hours after President Biden said he would consider dropping out of the race if a medical condition emerged, he “coincidentally” announced that he had tested positive for COVID-19 later in the evening. Then, despite testing positive, Biden was seen walking around without a mask on. And you guys wonder why I write entire articles dedicated to the Democratic party’s inability to finesse their strategies…

    Regardless, after a week or two of Biden appearing as though he may have once gaian firmed up his grip on the nomination, especially given the news regarding Trump’s assassination attempt usurping the news cycle, it once again appears as though his party is turning on him.

    Politico was out with an article yesterday saying that the Democratic Party, led by Nancy Pelosi, is ‘convinced Biden will lose’. Democratic leaders like Pelosi, Adam Schiff, Chuck Schumer, and Hakeem Jeffries are all now reported to have suggested that Biden step aside. And, in a crucial difference, headlines started to break late last night and early this morning that Biden was “receptive” to the idea and had queried his team as to whether or not Vice President Airhead had a better shot of beating Donald Trump in the general election than he did

    Also politically, although I have publicly encouraged otherwise, the temperature surrounding the Donald Trump assassination attempt continues to have everybody in the country on guard.

    With five months left until the election, it is only common sense to believe that other “surprise” political news could emerge. Except, this time when it does, the country will already be in a heightened state of alert due to the events of the last week. This makes it more likely than normal that we would see volatility related to the upcoming election, in my opinion.

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    On top of that, the stock market as a whole is starting to show signs of weak knees, as I’ve been predicting would happen as a result of interest rate hikes for the better part of the last two years. One sign of approaching volatility in markets isn’t always that stocks go down quickly, but that they sometimes swing wildly both up and down—something we saw this week after the Dow 700+ points in one day, only to see tech stocks collapse the most since 2022 in the next session.

    The rotation from technology to industrial stocks and boring value stocks that I talked about just days ago in my portfolio review appears to be taking place. Check out the 6% divergence all of a sudden over the last two sessions.

    Either way, this volatility in markets could continue not only as a result of said rotation, but also eventually as a result of the economy’s gears locking up and high-interest rates finally wreaking havoc. As we get closer and closer to the first rate cut, I continue to believe that this could be the ultimate “sell the news” event and could mark the beginning of a large correction in equity markets.

    As a reminder, all of this is taking place at a time when the country has unsustainable levels of debt, a growing deficit, out of control spending and is entering a period of fiscal dominance.

    On top of the election and the market, all of the standard risks I pointed out at the beginning of the year remain in place: you have President Biden creating turmoil by restricting Chinese chip manufacturers, we still have an emerging conflict between China and Taiwan, Israel is still engulfed in its conflict in the Middle East, and Ukrainian President Volodymyr Zelenskyy is still begging the United States for more money to perpetuate the country’s non-stop conflict with Russia.

    Finally, we still have a wildcard with the BRICS nations potentially challenging the US dollar, and one of our closest allies in the dollar, Saudi Arabia, drifting away from the petrodollar. This is a catalyst that would likely take years to develop to a point where it would have a meaningful impact, but in my opinion, the gears are whirring away in the background, and just because we can’t see the consequences yet doesn’t mean that we should ignore this potential seismic change in progress.

    For me, it’s just a numbers game. If I had to look at the trade that has the “most ways to win,” I’m not sure anything else right now has a better setup than being long volatility. Since COVID, the VIX has been trading systematically lower and lower while markets have done nothing but go higher and higher, both in defiance of a very risky macro environment. We are so overdue for a “CNBC anchor meltdown style market move lower” that it hurts.

    QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author. This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. These positions can change immediately as soon as I publish this, with or without notice. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

    Tyler Durden
    Sat, 07/20/2024 – 11:40

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