Sep 28

Today’s News 28th September 2022

  • New Zealand Calls It Quits On Aiding Ukraine's Military
    New Zealand Calls It Quits On Aiding Ukraine’s Military

    At a moment Washington continues what’s essentially an endless arms and financial aid pipeline to Ukraine, and as some defense officials express concerns over the Pentagon’s own dwindling stockpiles, one country says it’s giving up on arming Kyiv.

    New Zealand, which is one of the “Five Eyes” intelligence-sharing partners which includes the US, now says it can no longer keep up with supplying what Ukraine is asking for without depleting its stockpiles.

    “The New Zealand government has expanded sanctions on key Russians, but cannot provide further military assistance as it has nothing Ukraine wants,” The Canberra Times reports Tuesday.

    Royal New Zealand Air Force C-130H(NZ) Hercules arrives into the Australian Defence Force’s main operating base in the UAE. Source: Australian military

    Defense Minister Peeni Henare said his country stands “ready to provide further lethal aid if Ukraine’s needs matched its stockpiles.”

    The top defense official then confirmed it is currently the case that the military cannot keep up:

    Asked on Tuesday whether New Zealand had considered further military support, Mr Henare said the requests didn’t match “on our current assessment and according to the requests in the donor meetings I’ve been on”.

    “On those donor calls, they’ve come asking and it’s for HIMARS, land-to-air defence systems and also land-to-sea defence systems,” he said.

    So far, New Zealand’s contribution has been meager – given also it’s a tiny Pacific island nation – compared to European countries, and has been focused on defensive equipment such as body armor.

    “If they were things we were to procure, they would take years but that hasn’t stopped us providing military aid,” PM Jacinda Ardern commented this week on the logistical challenges in procuring and then shipping weapons abroad.

    A look at historic New Zealand military expenditures over the last half-century…

    But as a major non-NATO ally of the United States and major intelligence-sharing partner, New Zealand is without doubt assisting the US mission in support of Ukrainian forces in this arena. It is also vowing more sanctions, and has typically signed off on whatever fresh US and EU anti-Russia sanctions are rolled out.

    Tyler Durden
    Wed, 09/28/2022 – 02:00

  • Watch: French PM Declares EU Will Be 'Vigilant' Against 'Threat' Of Democratically Elected Italian Leader
    Watch: French PM Declares EU Will Be ‘Vigilant’ Against ‘Threat’ Of Democratically Elected Italian Leader

    Authored by Steve Watson via Summit News,

    Screenshot

    Following the stunning election of conservative candidate Georgia Meloni to the office of Prime Minister in Italy, Meloni’s French counterpart has declared that the EU will be ‘vigilant’ against any ‘threat to human rights’ posed by the democratically elected leader.

    France’s Prime Minister, Elisabeth Borne, stated during an interview that the EU intends to scrutinise the actions of the Italy’s first woman PM.

    “In Europe, we have a set of values ​​and, of course, we will be mindful that these values ​​are respected by everyone when it comes to human rights and the right to abortion,” Borne proclaimed.

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    Meloni, a Catholic, has previously promised that there will be no crack down on abortion in Italy, but has expressed a desire to see more alternatives offered to women.

    The comments of the French PM come after European Commission head Ursula von der Leyen threatened to punish Italy for electing a right-wing coalition government.

    Von der Leyen stated that “we have tools” if Italy is not “willing to work with us”:

    The thinly veiled threat was blasted by Matteo Salvini, head of Lega (The League), the party expected to form a coalition with Meloni’s government.

    “These are disgusting words, the threatening tone is unacceptable,” Salvini urged, adding “Our parliamentary group will present a motion of censure,” and emphasising that the Italian people control what happens in their country, not “the Brussels bureaucrats”.

    Following the victory of Meloni’s Brothers of Italy party, hysterical media coverage ensued, with numerous publications warning of the “return of fascism in Italy.”

    Those concerns were rubbished by, of all people, former leftist Prime Minister Matteo Renzi, who called them “fake news.”

    Tyler Durden
    Tue, 09/27/2022 – 23:30

  • Syria Demands Compensation For Oil Losses In UN Speech
    Syria Demands Compensation For Oil Losses In UN Speech

    In a rare plea before the U.N. General Assembly in New York, Syria’s top diplomat demanded compensation for oil and gas stolen by the United States, as well as its monumental energy losses over the course of the 11-year long war.

    “The war against Syria, ultimately, was an attempt by the West to maintain control over the world,” Syrian Foreign Minister Faisal Mekdad told the assembly on Monday, demanding further that the continuing US military occupation in the oil and gas rich northeast “should end immediately, without conditions.”

    Syria’s foreign minister Faisal Mekdad addresses the 76th Session of the United Nations General Assembly this week.

    He informed UN leaders that “direct and indirect” oil and gas sector losses over the course of the conflict have reached $107 billion, stressing further that Damascus is demanding compensation.

    “Fighting terrorism does not happen through an illegitimate international coalition that violates Syria’s sovereignty and destroys towns and villages,” Mekdad asserted. He said that any ‘counterterror’ campaign or foreign presence on sovereign Syrian soil must be done in direct coordination with President Bashar al-Assad. 

    While during the Trump administration years the hundreds of American troops stationed in eastern parts of Syria were there to “secure the oil” – as Trump had often repeated, the Biden administration has chosen to stress a continued counter-terrorism mission. And yet, US forces and their Kurdish SDF proxies continue to occupy the largest and most important oil and gas fields in the region. 

    Russia too has long called for the immediate exit of American forces, and has of late appeared to step up its air campaign against anti-government jihadist elements in Idlib, which has put Turkey on edge. Pro-Iranian militias have reportedly launched sporadic attacks on US bases, meanwhile.

    Ironically, just last week in President Joe Biden’s address to the UNGA, he declared “you cannot seize another country’s territory by force. The only country doing that is Russia.”

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    Many pundits were then quick to point out the obvious: that Biden denounced Russia’s occupation of eastern Ukraine all the while being completely oblivious to the years-long American occupation of Syria. Or alternately, Washington is certainly fully aware and believes itself to be the only country in the world with the “right” or “mandate” to seize any foreign soil that it wants to.

    Tyler Durden
    Tue, 09/27/2022 – 23:00

  • Pennsylvania Pro-Life Advocate to Appear In Federal Court Following Dawn SWAT Raid
    Pennsylvania Pro-Life Advocate to Appear In Federal Court Following Dawn SWAT Raid

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

    A Pennsylvania State Police SWAT officer stands by as Eric Frein arrives at the Pike County Courthouse for his arraignment in Milford, Penn., on Oct. 31, 2014. Frein, a suspected cop killer, was taken into custody from a Pennsylvania airport hangar after a seven-week manhunt. (Kena Betancur/Getty Images)

    A pro-life advocate and father of seven will appear in federal court in Philadelphia on Sept. 27 to face charges that he violated the Freedom of Access to Clinic Entrances Act (FACE Act) outside a Pennsylvania abortion clinic nearly a year ago.

    Mark Houck, a Catholic pro-life speaker and author from Kintnersville, Pennsylvania, is accused of twice physically assaulting a patient escort at a Planned Parenthood clinic during an altercation in October 2021.

    On Sept. 23, a heavily armed Justice Department SWAT team arrested the 48-year-old Houck at his home at gunpoint, placing him in handcuffs while his terrified wife and children looked on.

    Houck became the latest target of President Joe Biden’s Department of Justice solely to “intimidate people of faith and pro-life Americans,” said Peter Breen, an attorney at the Thomas Moore Society, a national non-profit law firm representing Houck in the case.

    U.S. President Joe Biden delivers a primetime speech at Independence National Historical Park in Philadelphia, Penn., on Sept. 1, 2022. (Alex Wong/Getty Images)

    “Mark Houck is innocent of these lawless charges, and we intend to prove that in court,” Breen said in a Sept. 26 statement.

    About 20 heavily armed FBI agents stormed Houck’s home at daybreak on Sept. 23, pointing guns at his head and then arresting him in front of his wife Ryan-Marie and their young children.

    He faces two counts of physically assaulting the patient escort.

    In June, Thomas Moore Society attorneys notified the DOJ that the FACE Act does not cover one-on-one altercations like the one involving Houck, which they claimed was initiated by an abortion supporter harassing Houck’s son.

    The attorneys also advised that Houck would appear in court voluntarily to face any charges against him.

    “Rather than accepting Mark Houck’s offer to appear voluntarily, the Biden Department of Justice chose to make an unnecessary show of potentially deadly force, sending 20 heavily armed federal agents to the Houck residence at dawn this past Friday,” Breen said in the statement.

    “In threatening form, after nearly breaking down the family’s front door, at least five agents pointed guns at Mark’s head and arrested him in front of his wife and seven young children, who were terrified that their husband and father would be shot dead before their eyes.”

    Donations continued to pour in for the Houck family via the Christian crowdfunding platform GiveSendGo, which totaled $137,000 as of Sept. 25.

    Mark Houck faces up to 11 years in prison, three years of supervised release, and fines of up to $350,000 if convicted.

    In June 2019, Thomas Moore Society attorneys won a similar case in the Eastern District of Pennsylvania, establishing that a one-off altercation cannot form the basis for a FACE Act complaint.

    Tyler Durden
    Tue, 09/27/2022 – 22:30

  • Futures Tumble After Report Apple Backs Off Plans To Increase iPhone Production Due To Lack Of Demand
    Futures Tumble After Report Apple Backs Off Plans To Increase iPhone Production Due To Lack Of Demand

    So much can change in just 8 days: back on Sept 19, citing “Apple analyst” Ming-Chi Kuo, 9to5mac reported that Apple was “cranking up iPhone 14 Pro production to address higher demand.”

    Well, maybe not, because moments ago, citing people familiar with the matter, late on Tuesday Bloomberg reported that contrary to expectations for a production boost, Apple is instead “backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize.

    According to the report, the phone maker which hasn’t come up with a refreshingly new model in about 4 years but merely adds more megapixels and a slightly faster chip and presents it as “new”, told suppliers “to pull back from efforts to increase assembly of the iPhone 14 product family by as many as 6 million units in the second half of this year.” Instead, Apple will aim to produce 90 million handsets for the period, around the same level as the prior year and in line with Apple’s original forecast this summer.

    In fairness, it’s not like outside analysts had any idea Tim Cook was about to pull a swticheroo: Apple had upgraded its sales projections in the weeks leading up to the iPhone 14 release and some of its suppliers had started making preparations for a 7% boost in orders. But just two weeks after the unveil of the new phone, Apple realized that this anticipated demand boost wasn’t coming.

    And yes, while demand for higher-priced iPhone 14 Pro models may indeed be stronger than for the entry-level versions – after all the baseline model offers absolutely nothing new – at least until the market plunges another 20% and even those rich on paper have to cancel their orders, even so the overall supply will not change although in hopes of salvaging at least margins if not overall revenue, some suppliers are shifting production capacity from lower-priced iPhones to premium models… which incidentally is hardly as it was reported by MacRumors about a week ago.

    Needless to say, the success – and failure – of the company’s leading device has implications for wide swathes of the tech industry, with suppliers including Taiwan Semiconductor and Hon Hai Precision Industry Co. depending on sales of iPhones and related devices as key revenue drivers.

    All this is happening as China, the world’s biggest smartphone market, is in an economic slump that’s hit its domestic mobile device makers and also affected the iPhone’s sales. Purchases of the iPhone 14 series over its first three days of availability in China were 11% down on its predecessor the previous year, according to a Jefferies note on Monday.

    And then there is the global recession: as Bloomberg notes, global demand for personal electronics has also been suppressed by soaring inflation, recession fears and disruption from the war in Ukraine. As a result, the smartphone market is expected to shrink by 6.5% this year to 1.27 billion units, according to data from market tracker IDC.

    “The supply constraints pulling down on the market since last year have eased and the industry has shifted to a demand-constrained market,” said Nabila Popal, research director at IDC. “High inventory in channels and low demand with no signs of immediate recovery has OEMs panicking and cutting their orders drastically for 2022.”

    The news that there is just not enough demand for the trinkets and beads of the world’s largest company promptly hammered futures, which not only gave up all overnight gains, but promptly tumbled back to session – and fresh 2022 – lows.

    Tyler Durden
    Tue, 09/27/2022 – 22:11

  • 30-Year US Mortgage Rises Above 7% For The First Time Since 2000; Fastest Surge In History
    30-Year US Mortgage Rises Above 7% For The First Time Since 2000; Fastest Surge In History

    Less than two weeks ago we cited Freddie Mac according to which the average 30 year US mortgage just rose above 6% for the first time since 2008, with real-estate brokerage Redfin commemorating the move by saying that “This Is The Sharpest Turn In The Housing Market Since The 2008 Crash.” Well, just a few days later, Jeff Gundlach was so kind to point out this evening…

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    …that  the national average 30 year mortgage rate just soared above 7.0%, hitting 7.08% and the highest since December 11, 2000.

    This was the fastest 1% increase in mortgage rates in history; and the fact that it took place inside of a month is even more remarkable.

    There is nothing we can add here that isn’t self-explanatory, and that we haven’t said already, like for example the fastest ever collapse in YoY Case-Shiller prices, as well as the first sequential drop in 112 years…

    … not to mention that the typical home now sells for less than the asking price…

    … but what is perhaps most remarkable is that according to the Altanta Fed, as of a few weeks ago, the median American household would needed to spend 44.5% of their income to afford payments on a median-priced home in the US, the highest percentage on record with data going back to 2006.

    Well, as of today, that number is just over 50%. That’s right: more than half of the average US household’s income goes to paying housing payments, nearly double what this number was just two years ago.

    That such a move can’t end in anything but tears is obvious to everyone… but the Fed, which still thinks it can somehow avoid the most destructive of hard landings.

    Tyler Durden
    Tue, 09/27/2022 – 21:41

  • Oil Prices Are About To Reverse Course
    Oil Prices Are About To Reverse Course

    By Irina Slav of OilPrice.com

    “That would be the road to hell for America,” JP Morgan’s CEO Jamie Dimon said last week, referring to a suggestion that all big banks divest from the oil and gas industry. In the same week, Aramco’s chief executive warned that years of underinvestment in new oil production are beginning to bear fruit, which is an undersupplied market.

    Despite these statements that suggested oil prices should move higher, oil fell for much of the week. Yet it wasn’t dragged down by fundamentals. Oil prices are down because many traders and investors are bracing for a recession.

    The bad news is that even in a recession, oil prices can go higher, and this is exactly what some of those banks that kept JP Morgan company at last week’s Congress hearing expected.

    Actually, JP Morgan was one of the bullish forecasters. Last week, the banking major’s analysts wrote in a note that they expected Brent crude to rebound to $101 in the fourth quarter. The analysts cited tighter supply as the reason for their forecast.

    Goldman Sachs is even more bullish. Three weeks ago, the bank’s analysts said Brent could hit $125 next year despite the oil price cap touted by the G7 as a tool both for keeping the market supplied with Russian oil and for lowering prices. They remain bullish to date.

    Morgan Stanley is a little more modest in its price expectations, seeking Brent crude at $95 per barrel in the last quarter of the year. It’s worth noting that this is a downward revision of the bank’s price outlook for the fourth quarter, which happened two weeks ago, prompted by growing recession fears.

    UBS also revised down its price expectations earlier this month, again citing recession concerns as well as the continued flow of Russian oil to Asian importers. That downward revision, however, brought Brent to $110, with analysts noting it could rise to $125 by the end of the third quarter of 2023.

    The reasons that the Swiss bank gave for the expected rebound are as interesting as they are worrying. According to UBS, oil prices wouldn’t rebound because of a recovering global economy. They would rebound because of the greater demand for oil products for electricity generation and because of tighter overall markets as the U.S. ends its SPR oil sale program.

    During the current quarter, oil prices have slumped by 20 percent, Bloomberg noted in a report on bank forecasts about its price. The reason, once again, had nothing to do with supply and demand dynamics. It had a lot to do with central bank policies and specifically the Fed’s aggressive move to rein in inflation by a quick succession of rate hikes that have pushed the dollar a lot higher, making commodities priced in the currency more expensive.

    On the fundamental front, the G7 is pushing ahead with the oil price cap, even though Russia said that it would simply not sell oil to a country enforcing a price cap. The EU, for its part, is currently discussing yet another package of sanctions against Moscow following the news that four eastern Ukrainian regions would be holding referendums to join the Russian Federation.

    Meanwhile, OPEC+ keeps falling well short of its production targets, and this will likely continue. In addition, some analysts expect the cartel to implement more production cuts, further squeezing global supply.

    In the U.S., inventories in the strategic petroleum reserve are at the lowest in decades, and this has worried some. Others, like Robert Rapier, have pointed out that the SPR is not as vital for the country’s supply as it used to be decades ago when the U.S. was heavily dependent on oil imports.

    What the above suggests is what Aramco’s Nasser warned about last week. The oil market is not in balance, and supply is getting tighter because there is little in the way of new supply to make up for natural depletion, which has been accompanied by other factors such as political instability and U.S. sanctions on large producers.

    At the same time, with the EU tightening the sanction screws on Russia, chances are that gas prices will remain elevated, which will result in what UBS noted as one factor for higher oil prices: greater demand for fuels to use in the generation of electricity instead of even costlier natural gas.

    “The consequence of global inventory drawdowns is that once demand picks up, the upshot in prices will happen all over again,” Morgan Stanley global oil strategist Martijn Rats told Bloomberg. “For now, demand has taken a step back, but the supply picture hasn’t changed that much; the supply ceiling is not that far away at all. As soon as demand picks up, we will have the same price pressures in the market again.”

    In a nutshell, this is the ultimate reason why oil prices will likely soon be on their way back up. Supply growth is stalling while demand is about to pick up. And depending on how strongly it picks up, we could see a lot higher oil prices next year.

    Tyler Durden
    Tue, 09/27/2022 – 21:00

  • US Tells Snowden Return Home To "Face Justice" Or Risk Conscription In Russian Army
    US Tells Snowden Return Home To “Face Justice” Or Risk Conscription In Russian Army

    Upon learning of Monday’s decree signed by Vladimir Putin to grant Russian citizenship to ex-NSA employee Edward Snowden after having been given asylum since he arrived there in 2013, the US administration called on Snowden to return to American soil to “face justice”.

    “Mr. Snowden should return to the United States where he should face justice as any other American citizen would,” State Department spokesman Ned Price said Monday.

    Edward Snowden posted a photo of his family to Twitter on Monday.

    But Price followed with a claim that’s being disputed by Snowden’s legal defense team. “Perhaps the only thing that has changed, is that as a result of his Russian citizenship, apparently now he may well be conscripted to fight in Russia’s war in Ukraine,” he said.

    In response, Snowden’s lawyer was quoted in Russia’s Sputnik as saying since Snowden never served in the Russian army, he will not be impacted by the ‘partial mobilization’ – which applies to reservists, though there have been conflicting reports of instances of draft notices being sent out to Russian young men:

    “He did not serve in the Russian army, therefore, according to our current legislation, he does not fall into this category of citizens, which is now called up. You know that now they are calling up reservists who have served and have the appropriate specialty. And then he will act according to the law, as everything is provided for in Russian legislation,” Anatoly Kucherena, Snowden’s laywer in Russia, said.

    The decree enacted on Monday stated as follows:

    “In accordance with paragraph ‘a’ of Article 89 of the Constitution of the Russian Federation, I decide: to accept the following persons in the citizenship of the Russian Federation: Edward Joseph Snowden, born June 21, 1983, in the United States of America.”

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    In a statement posted to Twitter, Snowden said he had applied for and obtained dual citizenship on fears that he could be separated from his son without Russian citizenship.

    Snowden remains America’s most visible whistleblower, after a career in US intelligence, including as a contractor for the NSA and CIA, he exposed pervasive US government domestic surveillance, which critics say is a severe violation of individual Americans’ rights as guaranteed under the Constitution.

    Tyler Durden
    Tue, 09/27/2022 – 20:40

  • Air Force Academy Defends Telling Cadets To Replace 'Mom And Dad' With 'Gender-Neutral Language'
    Air Force Academy Defends Telling Cadets To Replace ‘Mom And Dad’ With ‘Gender-Neutral Language’

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

    Members of the U.S. Air Force Academy Class of 2021 salute during their graduation ceremony at Falcon Stadium in Colorado Springs, Colorado, on May 26, 2021. (Michael Ciaglo/Getty Images)

    The U.S. Air Force Academy has defended its teaching cadets to avoid “gender-specific terms” such as “mom” or “dad,” saying that “inclusive language” is important to its mission of training leaders capable of winning wars.

    The Colorado Springs-based military school recently met with criticism over a slide that instructs cadets to replace gender-specific terms with gender-neutral ones. For example, “partner” is considered a better alternative to “boyfriend” or “girlfriend.” Terms like “parents,” “caregivers,” and “guardians” are preferable to “mom” or “dad.”

    To be “inclusive,” cadets should also avoid saying that they are “colorblind” or that they “don’t see color” or “we’re all just people,” according to the slide.

    A screenshot of the slide, which is part of a training titled “Diversity and Inclusion: What it is, why we care, and what we can do,” was shared with Fox News by Rep. Mike Waltz (R-Fla.), an Afghan War veteran and vocal critic of “wokeness” in the U.S. military.

    “It’s been a tradition in the military to get letters from Mom and Dad or your boyfriend and girlfriend for as long as there’s been a military,” Waltz told Fox News. “Now we’re instructing every cadet entering the Air Force to not say ‘mom’ and ‘dad,’ to not say ‘boyfriend’ or ‘girlfriend’ and this kind of drive towards gender neutrality.”

    “I think the Air Force should be worried about the ‘macroaggressions’ against America that are happening all over the world,” he added in a mocking reference to “microagression,” a term leftists use for behaviors they see as unintentional or indirect discrimination against members of a marginalized group.

    Academy’s Response

    In response to criticism, the Academy said the language of the slide was taken out of context and “misrepresented.”

    “The Air Force Academy does not prohibit the use of ‘Mom and Dad’ or other gender-specific terms,” the Academy said in a statement. “The slide in question was not intended to stand alone.”

    The slide, according to the Academy, was intended to “demonstrate how respect for others should be used to build inclusive teams, producing more effective warfighting units.”

    “USAFA develops leaders of character that can lead diverse teams of Airmen and Guardians inclusively, to enhance innovation and win future conflict,” the Academy said. “It is the diversity of Airmen and Guardians coming from all corners of our nation who perform the Department of the Air Force’s hundreds of critical mission sets that make us the best, most innovative Air and Space Forces the world has ever known.”

    In another slide shared by Waltz, cadets are referred to the Academy’s “Diversity & Inclusion Reading Room” for additional “resources” on the topic. That room, according to a February 2021 news release, is a “safe space” intended to “broaden and deepen exploration of the issues involved in diversity, inclusion and justice.”

    “Mark Jensen, president of the Academy’s faculty senate and a philosophy professor, said the reading room is the result of teamwork between faculty members and the Academy’s ongoing Critical Conversation series that formed in the wake of George Floyd’s Death,” the Academy reported at that time.

    Communist Tactics

    Waltz, who is a ranking member of the House Armed Services Subcommittee on Readiness, shared with Fox a particular concern that the program’s structure appears to create a “separate, parallel chain of command.”

    “To those of us who are a little bit older, it reminds us of what the Soviets used to do or what the Chinese do today, where they literally have political commissars inserted at every level end of the chain of command, but they have a separate reporting chain to ensure that the military is abiding by their ideology and their political doctrine,” Waltz said.

    “Not only do they have diversity and equity officers in the cadet chain of command, they wear a special insignia, which is exactly what the political commissars—they would wear an armband in both the Soviet army and now in the Chinese Communist military. I just think there are some really alarming parallels.”

    Tyler Durden
    Tue, 09/27/2022 – 20:20

  • 29% Of Americans Now Drawing From Their Savings "More Than Usual", New Survey Shows
    29% Of Americans Now Drawing From Their Savings “More Than Usual”, New Survey Shows

    New data out last week in the latest Forbes Advisor-Ipsos Consumer Confidence Weekly Tracker had shed some light on just how much Americans have been dipping into their savings as economic conditions worsen in the country. 

    While the survey showed that economic sentiment amongst Americans is unchanged, it still sits at levels that are “significantly lower than it did to start the year”, the report says. 

    While some indices contained in the survey pertaining to investments, expectations and jobs remain relatively stable (expectations declined slightly), it’s of note that the survey showed “a significant increase in the number of Americans who are withdrawing from their savings more than usual and investing or saving money less than usual.”

    Overall confidence still remains 3.4 points below the pandemic average, the report showed.

    The expectations sub-index, mentioned above, is down 0.7 points from two weeks ago and sitting “below its pandemic and historical averages, as well as its pre-pandemic reading”. 

    The report also notes that “for the third time in four months, the amount that draw from their savings more than usual outnumbers those who do so less than usual.”

    “Americans who do report a change are exercising caution. Those who say they spend money, borrow money/use credit, invest/save money, and pay off their loans/credit more than usual are outnumbered by those who say they do these things less than usual,” the report says. 

    Additionally, there has been an increase in the number of people who said they are saving less than usual (up 8 points to 46%). The report indicates that there has been an “increase in the percentage of those saying they are now drawing from their savings more than usual” (up 8 points to 29%). This number marks its highest point since tracking the data started)

    The results were based on data from an Ipsos survey conducted September 19 – 20, 2022 with a sample of 942 adults aged 18-74 from the continental U.S., Alaska, and Hawaii who were interviewed online in English, the report said. 

    You can view the survey’s full results and examine the questions used to conduct the research at this link. 

    Tyler Durden
    Tue, 09/27/2022 – 20:00

  • Arizona Woman Made $7.2 Million From Human Smuggling In 6 Months: Police
    Arizona Woman Made $7.2 Million From Human Smuggling In 6 Months: Police

    Authored by Charlotte Cuthbertson via The Epoch Times (emphasis ours),

    Tania Estudillo Hernandez, 24, was arrested and charged with crimes related to human smuggling and possession of weapons, in El Mirage, Ariz., on Sept. 23, 2022. (Maricopa County Jail)

    A 24-year-old Arizona woman was arrested and charged with crimes related to a human smuggling enterprise on Sept. 23, according to the El Mirage Police Department (EMPD).

    Over a six-month period at least, the woman, Tania Estudillo Hernandez, had allegedly held and/or processed 80 to 100 illegal aliens per month at a residence in El Mirage, the police department stated in a Facebook post.

    The illegal aliens were charged as much as $15,000 each in smuggling fees, police said. At $15,000 a person, for 80 people per month over six months, that’s a total of $7.2 million.

    Police said the department received a report of a person being held for ransom at the El Mirage address on the morning of Sept. 23.

    “The complainant stated in the residence there were multiple people kidnapped, including her husband,” the EMPD stated.

    Officers stopped a vehicle leaving the residence and discovered Hernandez transporting a Guatemalan national, the report stated.

    “EMPD learned that while conducting the traffic stop, two smugglers left the home with 10 Undocumented Immigrants,” the police department noted.

    During a subsequent search warrant executed on the home police seized a semi-auto rifle, two handguns (one of which was reported stolen out of Phoenix), and ammunition.

    “Ledgers documenting human smuggling, and other evidence of human smuggling was seized, to include evidence that Tania Estudillo Hernandez managed and directed smuggling operations,” the EMPD stated.

    A Google maps view of W Dahlia Drive, El Mirage, Ariz., where an alleged human smuggler was holding illegal immigrants on Sept. 23, 2022. (screenshot)

    Hernandez was booked into Maricopa County Jail on violations of kidnapping, money laundering, illegally conducting or participation in an illegal enterprise, and conspiracy, police said.

    El Mirage is located in the greater Phoenix metropolitan area and is less than 3 hours’ drive to the U.S.–Mexico border.

    The Tucson Border Patrol sector in Arizona leads the nation in known gotaways, which are illegal aliens that Border Patrol detects, but fails to capture. Border Patrol reported about 10,000 illegal alien gotaways in the Tucson sector per month during the last several months, according to provisional Customs and Border Protection numbers obtained by The Epoch Times.

    Border agents in Arizona have apprehended more than 514,000 illegal aliens in fiscal year 2022, which ends on Sept. 30.

    Often, Border Patrol agents are tied up processing large groups of illegal border crossers, which leaves miles of border unpatrolled.

    Tyler Durden
    Tue, 09/27/2022 – 19:40

  • Coast Guard Spots Chinese, Russian Warship Formation Off Alaska
    Coast Guard Spots Chinese, Russian Warship Formation Off Alaska

    The US military revealed Monday that earlier this month a US Coast Guard had ship embarked on a routine patrol in the Bering Sea and its crew was surprised to come across a Chinese PLA Navy guided missile cruiser.

    But more rare and unexpected was that the Coast Guard soon discovered the Chinese ship wasn’t alone as it sailed off Alaska’s coast, but was accompanied by two additional Chinese military ships and four Russian naval vessels, including a destroyer. The Chinese-Russian patrol group was described as being “in single formation”. 

    Image: U.S. Coast Guard 

    The Coast Guard in releasing a photo of the encounter stated, “The Coast Guard Cutter Kimball crew on a routine patrol in the Bering Sea encountered a People’s Republic of China Guided Missile Cruiser, Renhai CG 101, sailing approximately 75 nautical miles north of Kiska Island, Alaska, September 19, 2022.”

    According to more details by the Coast Guard and reported in the Associated Press: 

    The Honolulu-based Kimball, a 418-foot vessel, observed as the ships broke formation and dispersed. A C-130 Hercules provided air support for the Kimball from the Coast Guard station in Kodiak.

    “While the formation has operated in accordance with international rules and norms, we will meet presence with presence to ensure there are no disruptions to U.S. interests in the maritime environment around Alaska,” said 17th Coast Guard District commander Rear Adm. Nathan Moore.

    The reference to the “presence with presence” patrol strategy is a method of dissuading such enemy foreign vessels from coming near US waters by maintaining frequent naval and coast guard patrol activity.

    This latest incident follows something similar a year ago, when in September 2021 Chinese ships were spotted by Coast Guard observers 50 miles off the Aleutian Islands. The Chinese and Russian navies have also been ramping up coordinated activity in the Sea of Japan and near Japanese islands, which Tokyo has protested as an unwarranted intrusion.

    Tyler Durden
    Tue, 09/27/2022 – 19:20

  • EU Chief Calls Nord Stream Attack "Sabotage", Warns Of "Strongest Possible Response"
    EU Chief Calls Nord Stream Attack “Sabotage”, Warns Of “Strongest Possible Response”

    Update (1910ET): 

    European Commission chief Ursula von der Leyen confirmed the Nord Stream pipeline system leaks were caused by “sabotage,” and warned of the “strongest possible response” should active European energy infrastructure be attacked. 

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    Earlier, Danish Prime Minister Mette Frederiksen described the three separate leaks on NS1 and NS2 as “deliberate acts,” adding: “It’s hard to imagine that it’s accidental.”

    On Monday, Swedish seismologists reported the detection of underwater explosions – shortly after which large patches of roiling gas could be seen on the surface in the same area.

    As rumors swirl over who is responsible for the incident, one message it sent was clear – vital systems are vulnerable to attack.

    “The most important message that somebody wants to send, is what one is capable of doing with an offline pipeline can also be done with active pipelines, or undersea cables, or other infrastructure,” said Julian Pawlak, a researcher at the German Institute for Defense and Strategic Studies, in a statement to the NY Times.

    In response, Denmark and Norway announced increased security around their energy infrastructure, and Norway, now Europe’s most important producer of gas and oil, called for “increased vigilance by all operators and vessel owners.” In a statement, Norway’s energy minister, Terje Aasland, cited “reports of increased drone activity” around its coast, and said that much of what he had learned of the Nord Stream incidents “indicates acts of sabotage.” -NY Times

    And while Poland’s former Defense Minister appeared to thank the United States for the attack (a perfectly good explanation for which we’re sure is will be offered), Poland’s PM, Mateusz Morawiecki, laid the blame on Russia for targeting the pipelines – suggesting that the attack was an attempt to escalate the Ukraine conflict.

    “We do not know the details of what happened yet, but we can clearly see that it is an act of sabotage,” said Morawiecki, adding “An act that probably marks the next stage in the escalation of this situation in Ukraine.”

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    * * * 

    Update (1445ET): 

    German magazine Spiegel said the US Central Intelligence Agency (CIA) recently warned Berlin about the increasing signs of a possible planned attack on the Nord Stream pipeline system. 

    Spiegel reported, citing unnamed sources, that the CIA tipped off Berlin in the summer about possible attacks on NS1 and NS2. 

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    * * * 

    Update (1415 ET): 

    Prime Minister of Denmark Mette Frederiksen told reporters Nord Stream pipeline system damage to NS1 and NS2 “are deliberate actions, not an accident.”  

    “It is now the clear assessment by authorities that these are deliberate actions. It was not an accident.

    “There is no information yet to indicate who may be behind this action, Frederiksen said, adding that authorities don’t see NS1 and NS2 damage as a military threat against Denmark. 

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    * * * 

    Update (1215ET):

    CNN’s White House and national security reporter Natasha Bertrand said the Biden administration “is not going to speculate on the cause” of the Nord Stream pipeline system damage to NS1 and NS2. 

    “The US stands ready to support European partners’ efforts as they investigate,” Bertrand said. 

    Another CNN national security reporter, Kylie Atwood, tweeted that US Secretary of State Antony Blinken said it would be “in no one’s interest” if NS leaks were confirmed as the result of an attack or sabotage.

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    Remember what Undersecretary of State for Political Affairs Victoria Nuland said earlier this year… 

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    * * * 

    Update (1025ET):

    AFP News reported the US is ‘ready to provide support’ to Europe after the Nord Stream pipeline system leaks. 

    There was no further information on what type of support, but one can only imagine it would involve increased LNG cargo shipments to the EU.  

    There’s only one issue… 

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    * * * 

    Update (0932ET): 

    Swedish broadcaster SVT reported that the Swedish National Seismic Network detected two underwater explosions near the Nord Stream pipeline system on Monday. 

    “One of the explosions had a magnitude of 2.3, and was registered at as many as 30 measuring stations in southern Sweden,” SVT said. 

    Bjorn Lund, a professor in seismology and director of the Swedish National Seismic Network, said these two seismic events were explosions.  

    Here’s a map of the three leaks on the Nord Stream pipeline system. 

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    Bloomberg’s Javier Blas said the size of the “gas leak is huge.” 

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    So the question remains what (or who) caused the blasts? 

    Remember what President Biden said weeks before Russia invaded Ukraine:  

     “If Russia invades…then there will be no longer a Nord Stream 2. We will bring an end to it.”

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    * * * 

    Update (0920ET):

    Swedish daily newspaper Aftonbaldet quoted the Swedish Defense Force’s chief of operations, Michael Claesson, who said it’s not ruled out that there’s a connection to the gas leaks and Russia’s mobilization last week. 

    Claesson then told the paper that the incident was a “military matter.” 

    * * * 

    Update (0910ET): 

    Danish Defense Forces published the first images of the gas leaks from the Nord Stream pipeline system near the exclusive economic zone southeast of Bornholm island, according to the Swedish daily newspaper Aftonbaldet. 

    The first images show a large surface area of gas bubbles in the Baltic Sea. 

    Here are more images of one of the leaks. 

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    Another leak was reported by the Danish Defense Forces to be 1 kilometer in diameter on the surface water. 

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    This is an absolutely massive leak. 

    A handful of EU officials suspect the pipelines were sabotaged.  

    * * * 

    Update (0842ET):

    Sweden’s government held a crisis management meeting with other public authorities over the damage to the Nord Stream pipeline system, Swedish daily newspaper Aftonbaldet said, citing comments from Foreign Minister Ann Linde. 

    Linde said Sweden may discuss the pipeline damage with Denmark later today.  

    Denmark is tightening security around all energy assets as some European officials speculate the NS pipeline system was sabotaged. 

    * * * 

    The plot thickens about what caused damage to three lines of the Nord Stream gas-pipeline system under the Baltic Sea to Europe as some European officials now suspect sabotage.

    Nord Stream AG, the operator of the NS pipeline system, published a statement Tuesday that read, “the destruction that happened within one day at three lines of the Nord Stream pipeline system is unprecedented … and impossible now to estimate the timeframe for restoring operations of the gas shipment infrastructure.” 

    On Monday, NS2 gas pipeline and two NS1 lines reported rapid pressure drops, with gas leaks reported by Swedish and Danish authorities in the Baltic Sea near the exclusive economic zone southeast of Bornholm island. 

    A more in-depth view of the incident area. 

    Pressure drops in the NS gas-pipeline system could be the biggest signal that flows via NS1 might not resume this winter. Germany and surrounding countries are investigating the incident. NS2 cannot impact flows to the EU because the controversial idled conduit was never operational after German Chancellor Olaf Scholz canceled it after Russia invaded Ukraine earlier this year.

    Klaus Mueller, the president of the German energy network regulator, tweeted that the market situation remains “tense,” but Germany and the EU are no longer dependent on NS supplies. 

    Nord Stream AG issued an outage message that is active until Oct. 26, while the German economy ministry said it’s investigating the incident. 

    Dutch front-month gas, the European benchmark, was up nearly 10% at 190.50 euros per megawatt-hour on Tuesday morning. 

    The simultaneous pressure drop of the NS lines suggests some market participants may watch for any indication of sabotage. 

    Denmark’s Prime Minister Mette Frederiksen said it was hard to imagine NS gas leaks were caused by a “coincidence.” 

    Frederiksen didn’t rule out sabotage, though she said it was too early to draw any conclusions, according to Reuters, quoting public broadcaster DR during a visit to Poland. 

    A German security official told Bloomberg that NS damage appears to be the result of “sabotage.”

    The evidence points to a violent act, rather than a technical issue, according to a German security official, who asked not to be identified because the matter is being probed. -Bloomberg 

    German daily newspaper Tagesspiegel reported that “the Nord Stream pipelines may have been damaged by targeted attacks and leaked as a result.”

    A source close to the government, quoted in the newspaper, said, “everything speaks against a coincidence.”

    “We cannot imagine a scenario that is not a targeted attack,” the source said.

    Die Welt, another German newspaper, reported the timing of the NS damage may suggest sabotage and was unlikely to be an accident. 

    Reporters asked Kremlin spokesman Dmitry Peskov if the NS system’s pressure drop could be due to sabotage. He responded: “It is impossible to exclude any options.”

    There appears to be no immediate end to the gas leak from NS pipelines, according to the Danish national daily newspaper Berlingske, which quoted Danish Energy Authority. 

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    The energy authority said, “a lot of gas is coming out, so it is not a small crack, it’s a really big hole. Nord Stream leaks can be a deliberate act, but it can also be something else, it’s just extremely rare that something like this happens.”

    *Developing…  

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    Tyler Durden
    Tue, 09/27/2022 – 19:10

  • Beto Turns On Biden, Blames Prez For Latino Voters' Rightward Shift
    Beto Turns On Biden, Blames Prez For Latino Voters’ Rightward Shift

    Authored by Dorothy Li via The Epoch Times (emphasis ours),

    Texas Democratic gubernatorial candidate Beto O’Rourke speaks during a campaign rally at Republic Square in Austin, Texas on December 04, 2021. (Brandon Bell/Getty Images)

    Beto O’Rourke has blamed Joe Biden’s actions during the 2020 election as playing a part in Latino voters’ rightward political shift in recent years.

    “Candidate Biden didn’t spend a dime or a day in the Rio Grande Valley—or really anywhere in Texas, for that matter—once we got down in the homestretch of the general election,” O’Rourke said at the Texas Tribune Festival on Sept. 24.

    “You got to be locking eyeballs with the people that you want to fight for and serve and whose votes that you want to win.”

    The rightward shift of Hispanic and Latino voters made headlines in the 2020 election.

    Trump saw more support from Latino voters in 2020 than in 2016. According to Pew Research, Trump moved from 28 percent to 38 percent approval among Hispanic voters, a gain of 10 percent. Biden, meanwhile, earned 59 percent of the Hispanic voters, down from 62 percent Democratic nominee Hillary Clinton received in her 2016 election.

    In South Texas, a historically Democratic stronghold, Hispanic votes shifted significantly. For example, Zapata County, where Clinton won by 33 percentage points in 2016, flipped to Trump in 2020.

    “Republicans showed up with a very strong, compelling economic message,” O’Rourke said Saturday when asked why the Hispanic voters in Texas shifted to GOP candidates.

    “From Trump, it was literally one syllable, one word,” O’Rourke continued. “It was ‘jobs,’ and he kind of offered a false choice: ‘I can either keep you holed up in your house during this pandemic, or I can open up all places of employment and prioritize the economy.’”

    “What did we have on our side? Nothing,” he added.

    The momentum Republicans gained among Hispanics appears to be sustained in Texas so far. In a June special election, conservative Republican Mayra Flores defeated Democrat Dan Sanchez by roughly eight percentage points. Flores became only the second Republican to ever win in a Rio Grande Valley congressional district and the first Mexican-born Republican ever elected to Congress from Texas.

    Texas Gov. Greg Abbott speaks at a press conference at the Capitol in Austin, Texas, on June 8, 2021. (Montinique Monroe/Getty Images)

    Upcoming Governor Race

    O’Rourke, who is facing off against Republican Gov. Greg Abbott in the upcoming midterm election, said he would not repeat the same errors Democrats made two years ago.

    “I am making sure that we do not commit the same sin as some Democrats before me have committed, which is take voters of color—Black voters and Latino—for granted,” he said, adding that his Spanish language skills gave him a “competitive advantage.”

    Recent polls show the democratic candidate is falling behind Abbott, who is seeking a third term as governor. According to a poll released on Sept. 19 by The Dallas Morning News and the University of Texas at Tyler, Abbott had a lead of 9 percentage points over O’Rourke.

    But the 49-year-old shrugged off the survey results.

    “I take these polls with a grain of salt,” he said.

    John Haughey contributed to the report.

    Tyler Durden
    Tue, 09/27/2022 – 19:00

  • Apple Sued After 67 Year Old Employee Claims Bonus Was Withheld Because Of His Age
    Apple Sued After 67 Year Old Employee Claims Bonus Was Withheld Because Of His Age

    Color us surprised to see a “woke” workplace like Apple being sued for discrimination, but that’s exactly what’s happening in one case where the popular iPhone manufacturer is being accused of age bias.

    Apple is being sued by an employee who claims he wasn’t awarded restricted stock like others in his position were because of his age.

    And the kicker? The suit claims that Apple admitted the employee didn’t get the stock because it was specifically “designed as an investment in the future” and that the employee’s supervisor made an “age based assumption” that the employee would be retiring soon. 

    The employee, 67 year old Donald Shruhan Jr., said he wasn’t awarded stock in 2019 despite getting an “excellent performance review”. According to Bloomberg, the suit also claims that “two other senior directors in his unit both received stock awards ‘commensurate with their performance,’ but ‘each was significantly younger’.”

    Shruhan, who is a senior manager on Apple’s global security team, says it was the first time in 11 years he didn’t get a bonus commensurate with his performance, Bloomberg reported. He claims he should have received a bonus between $800,000 and $850,000. 

    Shruhan tried to solve his issue by going through the company first, but after reaching an “impasse” with Apple human resources, he obtained a right-to-sue letter from the California Department of Fair Employment and Housing.

    To this, we can only add: Tim Cook is 61 years old. When will he stop being awarded restricted stock units because of his age? 

    Tyler Durden
    Tue, 09/27/2022 – 18:40

  • Russia Confirms 'Sporadic' Contacts With US On Nuclear Weapons
    Russia Confirms ‘Sporadic’ Contacts With US On Nuclear Weapons

    Authored by Dave DeCamp via AntiWar.com,

    Kremlin spokesman Dmitry Peskov said Monday that the US and Russia have had “sporadic” contact over the issue of nuclear arms as tensions are soaring between the world’s largest nuclear-armed powers.

    “There are channels for dialogue at the proper level, but they are of a very sporadic nature. At least they allow for the exchange of some emergency messages about each other’s positions,” Peskov said.

    When Russian President Vladimir Putin ordered a partial mobilization last week, he warned that Russia could use nuclear weapons to protect its “territorial integrity.” The warning was significant since Russian territory is set to expand into Ukraine once referendums on joining Russia are completed in Russian-controlled areas.

    On Sunday, US National Security Advisor Jake Sullivan said the US warned Russia it would face “catastrophic consequences” if it used a nuclear weapon in Ukraine.

    Sullivan wouldn’t explain what that means but said the US “spelled out in detail” to Russia how it would respond. When asked if Russia had received such a message from the US, Peskov declined to comment.

    Since Russia invaded Ukraine on February 24, there have been virtually no public high-level meetings between US and Russian officials. Secretary of State Antony Blinken spoke with his Russian counterpart, Sergey Lavrov, in July, but the conversation was focused on a potential prisoner swap.

    Tyler Durden
    Tue, 09/27/2022 – 18:20

  • General: Unvaccinated National Guardsmen Activated For Hurricane Ian
    General: Unvaccinated National Guardsmen Activated For Hurricane Ian

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    National Guard members are seen in a file photo. (Charlotte Cuthbertson/The Epoch Times)

    Ahead of Hurricane Ian’s predicted landfall in western Florida, the head of the Florida National Guard confirmed Monday that Guardsmen who are not vaccinated for COVID-19 will be activated in response to the storm.

    Florida National Guard Maj. Gen. James Eifert on Monday told reporters that the Pentagon’s vaccine mandate does not impact the state’s capacity to activate unvaccinated service members to deal with a natural disaster such as a hurricane.

    “The vaccine mandate does not impact our ability to bring people in on state active duty … we will be activating all of those people [who are unvaccinated],” he remarked.

    Secretary of Defense Lloyd Austin mandated that all service members receive COVID-19 vaccination and that  National Guardsmen who refuse to get the shots must obtain a religious or medical exemption or face repercussions. Some Guard members could face a loss of wages and cannot train, while those who continue to refuse the vaccine can be potentially discharged, according to the Department of Defense.

    Numerous lawsuits have been filed against the Pentagon due to its mandate, while some lawmakers have questioned whether such orders are putting a damper on the U.S. armed forces’ recruitment efforts. And earlier this month, former Secretary of Defense Mark Esper warned that several branches of the military are severely “struggling” to find recruits.

    Storm Path

    The National Hurricane Center (NHC) on Monday afternoon said Ian is a Category 2 system with 100 mph winds. The storm has strengthened since Monday morning when forecasters said it was a Category 1 storm with wind speeds hovering around 85 mph.

    Meanwhile, hurricane warnings have now been issued for the central western Florida coastline, including Tampa Bay, indicating the storm is going to impact the area in the next 24 to 36 hours. First, Ian is on track to hit western Cuba, according to the NHC. After impacting Cuba, the system is expected to strengthen into at least a Category 3 hurricane with 111 mph or greater wind speeds.

    Read more here…

    Tyler Durden
    Tue, 09/27/2022 – 18:00

  • Tesla Shanghai Plant Running Under Maximum Capacity Despite Recent Production Upgrades
    Tesla Shanghai Plant Running Under Maximum Capacity Despite Recent Production Upgrades

    Despite yet another email leaking about how the company is expecting record deliveries for Q3, headlines are also breaking today suggesting that Tesla’s Shanghai plant – its main driver for sales in China an exports throughout Europe – is running under its maximum capacity.

    The plant will be running “at about 93% of capacity through the end of year,” Reuters reported this morning. The pace is despite the fact that the factory was recently upgraded to handle more production. 

    Production was recently upgraded to be able to handle 22,000 vehicles weekly, an increase of 30% from prior levels. One source told Reuters that the pace the factory was operating at was “lower than he had expected”. 

    The factory is capable of producing 14,000 Model Ys and 8,000 Model 3s per week. The company’s target is 20,500 units a week for the rest of the year, the sources told Reuters. 

    Recall, we reported two weeks ago that Tesla had delivered 76,965 vehicles in China for the month of August. 

    That number was up 172.8% from the month prior. Data from the China Passenger Car Association showed that the automaker sold 34,502 cars in China and exported 42,463 vehicles. 

    The numbers came even as battery maker CATL had to shut down part of its operations due to power restriction constraints during the month, Reuters reported. CATL’s Yibin plant supplies battery cells to Tesla Shanghai. 

    The stark difference in month-over-month numbers comes as China’s Shanghai plant was down for a planned upgrade for most of July. Recall, deliveries in China had crashed -64.2% heading into the month of August.

    Overall passenger car sales were up 28.4% in August, the CPCA noted. EV sales in China have been on the rebound since the government has reembraced subsidies and tax breaks, which it previously had planned on phasing out.  

    Tyler Durden
    Tue, 09/27/2022 – 17:40

  • "The Train Crash Scenario": California EV Mandates Will Further Stress An Already Exhausted Electric Grid
    “The Train Crash Scenario”: California EV Mandates Will Further Stress An Already Exhausted Electric Grid

    So apparently the idea of EVs providing a problem-free and pollution-free utopia where everybody lives in total harmony and there are no problems isn’t quite the reality of the situation.

    The reality in California, as the Wall Street Journal wrote about this week, is actually that EV charging is putting stress onto an aging grid and forcing the state to think about ways to generate more power. 

    The state’s plan to end gas powered vehicles by 2035 means that power needs in the state are going to increase. Meanwhile, as California’s grid has already been stressed this year, the state has been asking citizens to be mindful of when they charge their EVs – and even when they use their major appliances.

    Which, of course, begs the question: how the hell is the state going to go all electric within 12 years?

    First, it’ll need buy-in from its citizens over charging habits. Dan Bowermaster, senior program manager for electric transportation at EPRI, a nonprofit research group, told WSJ: “Are people going to top off every night? Are people going to wait every few days and then charge up all at once? There are a lot of questions about customer behavior.”

    Utilities and auto makers are already trying to offer incentives for owners to charge at certain times and using favorable methods, the report says. 

    The state is expected to have 5.4 million passenger EVs and 193,000 medium and heavy duty EVs by 2030, the state’s energy commission estimates. This charging will amount to 5% of the electric load at peak hours, compared to about 1% now. 

    Despite this, Liane Randolph, chair of the California Air Resources Board, is optimistic. She told the WSJ: “The reality is the grid is only stressed in a limited period, a few hours in the early evening on certain types of days. Most of the time it’s fine.” 

    Oh, okay. Problem solved.

    Well not quite. A study out of Stanford released last week showed that the grid could face problems late at night when cars are charged at home. Siobhan Powell, the study’s lead author, commented: “If everyone were doing that, it would cause really big problems.”

    At home charging draws about the same power as using 2.5 air conditioners, the report says. 

    John Moura, director of reliability assessment and performance analysis at the North American Electric Reliability Corp., added: “There’s some energy challenges in how we’re bringing on new resources to meet this new growth of electricity demand.” 

    “The disaster kind of comes from the rally cries from the public that utilities aren’t connecting their EVs fast enough. And now that bumps up against EV mandates. That’s the train-crash scenario.”

    Tyler Durden
    Tue, 09/27/2022 – 17:20

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