Jun 04

Today’s News 4th June 2024

  • Italy Pipes Up Against NATO Escalation As Court Ruling Could Cut Off Russian Gas Sooner Than Expected
    Italy Pipes Up Against NATO Escalation As Court Ruling Could Cut Off Russian Gas Sooner Than Expected

    Authored by Conor Gallagher via Naked Capitalism,

    A Russian construction worker speaks on a mobile phone during a ceremony marking the start of Nord Stream pipeline construction in Portovaya Bay (AP Photo/Dmitry Lovetsky, File)

    An opaque legal ruling could, in a roundabout way, soon halt all pipeline deliveries of Russian gas to Austria – and therefore Italy. Coupled with the ongoing disruptions in the Red Sea, the economic consequences for Europe’s second-largest industrial location could be dire.

    In late May, an undisclosed European court handed down a ruling that in a roundabout way could force Austria’s main gas company OMV (Österreichische Mineralölverwaltung or Austrian Mineral Oil Administration) to stop paying for Russian gas.

    Some background:

    This all goes back to the West’s “freezing” of hundreds of billions of Russian foreign assets in 2022. In light of that move, Putin introduced the “gas for roubles” program so that payments and clearing on its gas exports would be under the control of the Russian Central Bank and therefore unable to be frozen or stolen by the West.

    Many European countries/companies refused to comply and loudly complained that Putin was cutting off the gas.

    Meanwhile, some countries and companies in central Europe were “allowed” by the EU to continue importing Russian gas due to difficulties in updating their legacy energy infrastructure or some other reason. So companies like Austria’s OMV agreed to pay in roubles and continue to import the Russian gas and often send it on to the countries that threw a fit over the gas for roubles program.

    Now, here we are two years later, and it looks like OMV is going to be forced to stiff Gazprom on payments and redirect that money to European energy companies who refused to pay in roubles.  What little details of the case that are known are this from Upstream:

    …European companies led by Germany’s Uniper and RWE filed arbitration claims in Sweden, Switzerland and Luxembourg against the Russian company’s European trading subsidiary, Gazprom Export, seeking multibillion-dollar compensation payouts.

    OMV said on Wednesday that its remaining supplies from Gazprom may be under threat due to “a foreign court ruling” obtained by “a major European company” relating to the 2022 halt in supplies.

    Neither the court nor the company was identified.

    However, OMV said the court ruling contains an injunction ordering Gazprom’s remaining European customers to divert their payments for received Russian gas to the accounts of the “major European company”, as enforcement of the compensation is deemed impossible in Russia.

    OMV said that, if enforced, the ruling will require its OMV Gas Marketing & Trading subsidiary “to make payments under its gas supply contract with… Gazprom Export” to “the European energy company instead of sending them to Gazprom Export”.

    “However, it is currently not known to OMV whether and when such an enforcement might occur,” it added.

     Naturally, since Gazprom would not be receiving money for its natural gas, it would no longer deliver it to Austria. Despite the obviousness of that response, all the headlines read like this:

    OMV of course says that it would still be able to supply customers with volumes from non-Russian sources through its “extensive diversification efforts in recent years,” but at what cost? At least one prediction has European natural gas prices jumping 18 percent, and that’s on top of the significant rises over the past two years. There’s a reason that Austria kept importing from Russia and is now the EU country that relies the most on Russian gas. As always, it’s cheap and reliable.

    For comparison, OMV just signed long-term deals with BP and US-based company Cheniere Energy to import a combined nearly 2 million tons of LNG per year through a terminal in The Netherlands. The deals don’t begin until 2026 and 2029, respectively, and the contractual price will be pegged to market prices, which is the obvious disadvantage compared to set prices in long term contracts with Russia.

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    Sure, the increased energy prices will hit the poorest Europeans hardest and reduce their quality of life, but hey, it’s good for US LNG companies.

    The fact is, this is bad news for Austria, and maybe more importantly from an EU-wide perspective, for the bloc’s second largest industrial center: Italy. Both countries have been trying to prepare for a halt to Russian gas supplies at the start of the next year when the current gas transit agreement between Russia and Ukraine expires. Officials in Kiev have repeatedly made it clear that will be the end of Russian gas flowing through Ukraine.

    That the cutoff date might now come sooner than expected just adds insult to injury. As OMV talks up its diversification efforts, it only has to look to Italy to see how difficult that process can be. With the ongoing tensions in the Red Sea and the Middle East causing disruptions in LNG deliveries Rome is in a major bind despite long pretending otherwise.

    Italy has Algeria to the south, which was going to increase gas and oil exports. Italy had the LNG facilities and was going to be part of “the continent’s new economic growth engine.”

    But that plan to transform the country into a gas hub for Europe, already on shaky ground, started to go up in flames in the Red Sea months ago. Italian PM Giorgia Meloni’s predecessor, the unelected former Goldman Sachs man Mario Draghi, was one of the biggest proponents of the EU’s doomed Russia policy and pushed the energy hub idea, which was seamlessly picked up by Meloni.

    It was never all that well thought out in the first place.

    In 2021, Russian imports accounted for 23 percent of Italian fuel consumption with gas depended on more heavily (about 40 percent of imports), but it was said Italy was well-positioned to manage the loss of Russian fuels due its proximity to North Africa. Italy quickly began looking south across the Mediterranean as part of the EU-wide turn to Africa in search of energy replacements for Russian oil and gas. Algeria was going to increase the flow of gas through an existing pipeline, and the countries plan to build another pipeline.

    Here were Italy’s calculations from a March 2022 piece from Hellenic Shipping News:

    Italy consumed 29 billion cubic metres (bcm) of Russian gas last year, representing about 40% of its imports. It is gradually replacing around 10.5 bcm of that by increased imports from other countries starting from this winter, according to Eni.

    Most of the extra gas will come from Algeria, which said on Sept. 21 it would increase total deliveries to Italy by nearly 20% to 25.2 bcm this year. This means it will become Italy’s top supplier, provide roughly 35% of imports; Russia’s share has meanwhile dropped to very low levels, Descalzi said this week.

    The rest of the shortfall was to be made up of LNG shipments from Angola, Egypt, Mozambique, Qatar, and of course the United States.

    Rome was using billions of euros coming from the EU’s green fund, the REPowerEU plan, and the Covid recovery fund to completely wean itself off Russian gas and turn the country into a hub, mainly with LNG storage facilities. The government rushed through a 5 billion cubic meter capacity (bcm) LNG terminal project in Tuscany with the Draghi government appointing a special commissioner with near-absolute powers that allowed the project to proceed despite court challenges.

    In December, Italy’s gas grid operator Snam completed a $400 million deal for another floating 5 bcm LNG storage and regasification facility that will be based on Italy’s northeastern coast, which will bring the country’s total to 28 bcm.  In September of 2022, Reuters declared that the “energy crisis sires new European order: a strong Italy and ailing Germany.”

    The Italian government patted itself on the back and said it was the “best in Europe” on energy security.

    While gas made up about 51 percent of Italy’s total electricity generation in 2022 (the highest level in Europe), more than 95 percent of it was imported from overseas, and the problem was the math was overly optimistic going forward.

    The Transmed system connecting Algeria and Italy wasn’t even operating at full capacity in 2022 when Italy began to believe it was going to be able to ramp up deliveries. There were major Algerian production issues, including infrastructure problems and the need to divert gas to meet increasing domestic demand for electricity.

    Marco Giuli, a researcher at the Brussels School of Governance in Belgium, told Natural Gas Intelligence at the time that “the additional 9 Bcm from Algeria by 2023 is unrealistic, especially considering that Algerian supplies to Italy increased by 80% between 2020 and 2021, Giuli said.

    Here we are in 2024 and Algeria’s gas exports to the EU have actually declined:

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    So with LNG problems due to the Red Sea disruptions and less than hoped for from Algeria,  what did Italy do in response? It started getting more gas from Russia via Austria:

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    Now, it looks like Russian supplies could be cut off even sooner than expected, and with Israel announcing its destruction of Gaza will continue until the end of the year, that means the Red Sea will remain a no-go zone. So Italy, Austria and others will be stuck with limited LNG options, which means prices will likely be ridiculously high due to scarce supply. Meanwhile, Italian factory activity continues to contract as it has been doing for the majority of the time for the past two years.

    The vise tightening in Italy could be playing a role in Italian politicians piping up about the insanity of US/NATO escalation against Russia. Consider the following signs that Italy wants to get off the escalator in recent weeks:

    • In early May Italian Defense Minister Guido Crosetto slapped down French President’s Emmanuel Macron’s flirtation with the idea of sending Western troops to Ukraine.
    • Foreign Minister Antonio Tajani declared that Italy is not at war with Russia and will not send troops.
    • Deputy Prime Minister of Italy and Minister of Infrastructure and Transport Matteo Salvini said that NATO General Secretary Jens Stoltenberg should recant his statements about using Western weapons to attack inside Russia’s pre-2014 borders, or he should resign. The full comment: “Never attack Russia,” says Salvini, who adds: “If they want to go and fight in Ukraine, let Stoltenberg, Emmanuel Macron and all the bombers who want war go there. Ukraine or using our weapons to kill in Russia is madness. Either this gentleman who speaks on my behalf, since he speaks on behalf of NATO, either apologizes or resigns. Because the Italian people did not give you any mandate to go and shoot in Russia”.

    Unfortunately for the Italian people and especially the working class who have to bear the brunt of the pain from the economic war against Russia, the pushback against further escalation is too little, too late.

    The Italian public has consistently shown some of the lowest support levels in Europe for Project Ukraine, and those numbers have been consistently falling as research shows that half of Italians are struggling to make ends meet.

    Productive sectors of the economy have never been on board, and some political figures on the right like Salvini’s League and Berlusconi’s Forza Italia have periodically spoken out against escalation, but any attempts at a rational cost-benefit analysis or even maintaining some sort of cultural dialogue with Russians is met with hysteria from the liberal centrists in Italy (the real left has been mostly stamped out).

    It’s a major shift for Italy, which long enjoyed close ties with Russia. The two countries remained strong business partners until recent years. For example, Italy shared manufacturing know-how, such as on civil aircraft and helicopter projects, as well as the modernization of rail transportation, and Russia had the energy. Many mid-sized Italian businesses, especially in areas like agricultural manufacturing, were also eager to get into the emerging Russia market. They’re now doing what they can to stay there. Italian exports to Türkiye, for example, have jumped 87 percent over the last two years with much of that increase likely attributable to the effort to bypass sanctions.

    But now the gas is soon to be completely cut off and the US is cracking down on countries like Türkiye and their role in sanctions evasion.

    The whole Project Ukraine has always been a lose-lose proposition for Italy. Go against it and fall victim to EU Commission President Ursula von der Leyen’s “tools,” which would have likely included yanking the nearly $200 billion in Covid recovery funds going to Rome along with other financial difficulties orchestrated from Brussels. Despite a big part of her appeal being her earlier pro-sovereignty positions, Meloni pledged fealty to the EU, NATO, and the US after her 2022 election. That decision, too, now has Italy in a massive bind. And despite Meloni rolling over, von der Leyen’s “centrist” pro-Project Ukraine coalition partners in Brussels are now threatening to block the latter from a second term running the EU Commission if she tries to bring Meloni’s party into the center-right European People’s Party in the EU Parliament.

    And that pretty much sums up Italy’s past thirty years of involvement in the European project.

    For three decades Italy has been one of the most eager adopters of EU-prescribed neoliberal reforms. Leaders in Rome complain but say there’s no choice.

    For decades public assets have been sold off. American private equity is currently feasting on the country with CIA-connected KKR nearing completion of its acquisition of Telecom Italia’s fixed line network. More are to come as the sell-off must go on, the leaders in Rome complain but obey.

    Most Italians’ standard of living keeps falling, but that only proves more market-friendly reforms are needed, Brussels says. Italian leaders complain but oblige. One can only wonder why.

    Dipartimento delle Finanze

    And now what was left of Italian manufacturing is being killed so that US energy companies can make a killing delivering LNG, but Russia bad, they say.

    And no doubt, despite these recent protestations over further escalation with Russia, when the US demands its European vassals wade ever deeper into the Ukrainian morass, the government in Rome will moan and wail as they order working class Italians to the front lines.

    Tyler Durden
    Tue, 06/04/2024 – 02:00

  • Malinen: Start To Prepare For The Unthinkable
    Malinen: Start To Prepare For The Unthinkable

    Authored by Tuomas Malinen via GnSEconomics.com,

    DEPRCON WARNING

    Nuclear Threat (Free)

    These are the lines none of us would have ever wanted to write, but we have to. The current situation in and around the war in Ukraine has opened a path, which could lead to a nuclear confrontation.

    Ukraine has struck another early-warning (over-the-horizon) radar, this time in Orenburg region, near Orsk, some 1500 km from Ukraine. This radar did not even look at the direction of Ukraine, which makes the strike an act of madness, or something sinister.

    These strikes to the Russian early-warning system can serve only two aims:

    1. Ukrainian leadership is desperately trying to fully commit NATO to the war in Ukraine, or

    2. Strikes are a preparation for nuclear strikes to Russia by the U.S.

    Needless to say that the latter is extremely speculative. However, it is one of the two motives that can be established for the strikes. Alas, we have to acknowledge its existence. We have gone through the former in our previous warning.

    What is more is that, according to Kremlin, the U.S., the U.K. and France would have deployed ground-based intermediate and short-range missile system to Ukraine. These systems were previously banned by the INF (Intermediate-Range Nuclear Forces) Treaty from which President Trump withdraw the U.S. in February 2019, citing Russian non-compliance and missiles developed by China.

    These missile systems can be used to strike deep into Russia. The risk is that, if Ukraine would continue to target the early-warning system of Russia, at some point Kremlin would simply be forced to act, because it would seriously undermine their nuclear deterrence.

    Nuclear deterrence operates on three dimensions: time, distance and altitude, in addition to the actual arsenal of nuclear weapons. Time and distance are crucial for the response (retaliation, effectively) and altitude where missiles fly, is crucial for anti-missile and other defense systems to operate. Over-the-horizon radars are crucial for all three dimensions, as early warnings give authorities time, distance and altitude to react and enact defensive measures. If they are taken out, or their ability to detect an approaching intercontinental ballistic missiles (ICBM) seriously hindered, modern nuclear deterrence simply fails. This is the reason, why Kremlin would be forced to react if the early-warning system of Russia would become compromised by a foreign party (Ukraine/NATO). This applies also to the U.S. and all other nuclear powers. Everybody would eventually be forced to react under such a threat.

    There are naturally other options than just a nuclear strike for Kremlin, but they all would need to be major, which would enflame the conflict further. If Kremlin would choose to enact a nuclear strike, it would probably use a tactical nuke, which is smaller than a strategical nuke (e.g., an ICBM), and hit a military target, like an airbase.

    This is why we (with an extremely heavy heart) issue a warning of a possible nuclear strike in Europe. This warning is effective for the time being.

    We don’t present any estimated likelihood for it, at this point at least, as it would be macabre. However we note that, while the likelihood is probably not very high at the moment, if strikes to Russian early-warning system continue, it will grow rapidly.

    While still unlikely, we urge you to start to prepare for the unthinkable.

    Tyler Durden
    Mon, 06/03/2024 – 23:25

  • Where Smoking Is Still Popular
    Where Smoking Is Still Popular

    Although the proportion of people smoking cigarettes is gradually declining globally, in some countries the habit is still highly prevalent.

    As Statista’s Anna Fleck reports, according to data from a Statista Consumer Insights survey, conducted between January and December 2023, roughly 36 percent of urban Indian respondents said that they smoke cigarettes at least occasionally.

    In China, the share is even higher, with 42 percent saying the same.

    Infographic: Where Smoking Is Still Popular | Statista

    You will find more infographics at Statista

    Tomorrow, May 31 is World No Tobacco Day.

    This year’s theme is “Protecting children from tobacco industry interference”, aiming to encourage governments around the world to shield young people from tobacco marketing tactics in the hope of reducing future cases of addiction.

    Tyler Durden
    Mon, 06/03/2024 – 23:00

  • Fentanyl Mixed With Potent Animal Sedative Is All The Rage
    Fentanyl Mixed With Potent Animal Sedative Is All The Rage

    Authored by Matt McGregor via The Epoch Times (emphasis ours),

    Various forms of fentanyl. (Courtesy of the University of Houston)

    Public health authorities are warning of a new fentanyl drug concoction laced with a veterinary sedative more potent than previous cocktails.

    According to a libertarian drug policy analyst, the emergence of this new drug continues an acrimonious relationship between illicit substances and law enforcement’s attempt to control them that began in the first chapter of the War on Drugs: Prohibition.

    Both cities of Chicago and Philadelphia have issued health alerts warning of the drug medetomidine being mixed with fentanyl after an increase in overdoses.

    According to the Chicago Department of Public Health (CDPH), medetomidine is more potent than xylazine, also a veterinary sedative that has made it into street narcotics labeled the “zombie drug.”

    “Multiple associated drug samples from the West Side of Chicago tested positive for elevated levels of medetomidine,” the CDPH said. “Medetomidine has not previously been detected in Chicago, although it has recently been detected in Philadelphia. In Chicago, medetomidine has been detected in combination with fentanyl, heroin, xylazine, alprazolam and nitazenes.”

    Medetomidine is similar to Precedex in humans and can cause respiratory depression, the CDPH said, adding that its effects can’t be reversed by Naloxone, a medication that restores breathing after an overdose.

    According to a May press release from The Center for Forensic Science Research & Education, among the effects of medetomidine are muscle relaxation, sedation, and hallucinations, which can lead to severe adverse reactions.

    The Department of Public Health for the City of Philadelphia reported in its alert that the drug has appeared in Maryland, Ohio, Florida, and Canada.

    It has been identified in drug samples in Philadelphia from April to May, the alert said.

    ‘Iron Law on Prohibition’

    Dr. Josh Bloom, director of chemical and pharmaceutical science at the American Council on Science and Health (ACSH), wrote in a May 2024 article on medetomidine that “attempts to rein in illicit fentanyl or control the chemicals used to synthesize it resulted in even more dangerous drugs” that have prompted the appearance of drugs like xylazine and medetomidine. 

    “Another day another more dangerous street drug in an unwinnable war,” Dr. Bloom said.

    Dr. Jeffrey Singer, a health policy analyst with the libertarian Cato Institute, told The Epoch Times that the emergence of this new drug is unfortunate, but not unexpected.

    “This is what we call in the drug policy field the ‘Iron Law of Prohibition,’” Dr. Singer said, further explaining that this is a theory proposing that when law enforcement cracks down on illicit substances, their potency and danger only increases.

    As an example, Dr. Singer points to the prohibition era from 1920 to 1933 when people turned to harder concentrations of alcoholic beverages when they could no longer legally obtain beer and wine.

    Another more modern example, he said, is people bringing liquor into stadiums where beer and wine aren’t allowed because the smaller volumes are easier to smuggle.

    “Prohibition incentivizes whatever is being prohibited,” Dr. Singer said.

    When drug enforcement agencies cracked down on prescription opioids during the Obama administration, heroin then became cheaper and easier to obtain, he said.

    Later, fentanyl was used because it increased the potency of heroin and made it easier to smuggle in smaller sizes, he said.

    “What really set things off was the pandemic because the border closures and supply chain issues made it difficult to get opium,” he said.

    It was also hard to get the supplies used to make opium into heroin, so the cartels began to deal only in fentanyl, which can be synthesized and reproduced in a lab, he said.

    “There wasn’t a problem getting the supplies for this because you can make it in a lab and you don’t have to grow anything,” he said. “When the pandemic was over, the cartels just stuck with fentanyl because it’s easier.”

    Never Enough

    But it’s never enough, he said, so the cartels started adding xylazine to increase the potency of fentanyl, and now the more potent medetomidine.

    “After that, there will be something else,” he said. “There’s always something else.”

    There’s already a new class of synthetic opioids, he said, called nitazenes, which is considered 40 times more potent than fentanyl.

    “It’s a game of cat and mouse, and it’s going to go on and on until lawmakers realize they can’t win the War on Drugs,” he said.

    Federally Legalized; State Regulated

    According to Dr. Singer, prohibited drugs should be federally legalized like alcohol, with it left up to the states to decide if they want to criminalize them.

    If drugs are legalized, age, public use, and driving while under the influence restrictions could be imposed.

    “Essentially, we should follow the model we used when we ended alcohol prohibition,” he said. “When I buy an alcohol product in the liquor store, I never worry that it might be tainted with some other drug, like fentanyl, or that it might be of greater percentage alcohol than it states on the label.”

    He added that government obstacles should be removed from groups seeking to provide harm-reduction strategies to drug users.

    “Harm reduction strategies will be needed whether or not prohibition is ended,” he said.

    ‘Transnational Organizations’

    Dr. Singer added that he prefers to no longer call those trafficking drugs “cartels.”

    Instead, he refers to them as “transnational organizations.”

    “Our drug war has made them so powerful and so wealthy that though some of their leaders may be headquartered in some places like Mexico, these cartels have begun partnering with cartels in other countries,” he said.

    Plan Columbia, the 1999 U.S. foreign aid initiative to combat Colombian drug cartels in Columbia, only moved the cocaine trade to Central America and Mexico, he said.

    “In fact, cocaine has never been more abundant and cheap than it is now, so all they’ve done is move it from one place to the other, and it’s not stopping,” he said.

    Tyler Durden
    Mon, 06/03/2024 – 22:35

  • How US College Students Feel About Their Finances
    How US College Students Feel About Their Finances

    Student debt in the U.S. has ballooned to over $1.7 trillion, burdening millions of Americans with financial stress. Rising tuition costs and stagnating wages are considered to be the major drivers of this issue.

    To gain insight into how this is affecting students, Visual Capitalist’s Marcus Lu visualized the results of WalletHub’s Student Money Survey.

    This survey was conducted in 2024 with a nationally representative sample of 210 students. Results were normalized by gender and income.

    Data and Key Findings

    Student wealth surveys can provide unique insights into the financial preparedness of younger Americans.

    Starting with post-grad fears, it appears that the majority of students are afraid of either not finding a job, or paying off their debt.

    Some of these worries could subside in the future, as the federal government appears committed to cancelling federal student debt.

    The latest news came on May 22, 2024, when the Education Department announced it would cancel $7.7 billion for borrowers who received Public Service Loan Forgiveness, which includes professions like teachers and nurses.

    Regardless, 77% of students surveyed believed that their tuition was a good investment.

    Not Learning Enough

    Another highlight from this study was that nearly half (49%) of students feel that their school does not do enough to teach them about personal finance.

    When survey respondents were asked to choose which topic they wished they had learned more about, the most common answer was “How to do my taxes”.

    If you enjoy posts like these, check out Mapped: Personal Finance Requirements by State, which visualizes where high school students are required to take a personal finance course.

    Tyler Durden
    Mon, 06/03/2024 – 22:10

  • "I Was Offered Assisted Dying Over Cancer Treatment": Broken Canadian Healthcare System Is Killing Patients
    “I Was Offered Assisted Dying Over Cancer Treatment”: Broken Canadian Healthcare System Is Killing Patients

    Authored by Ian Birrell via UnHerd,

    Allison Ducluzeau with her doctor after receiving treatment.

    Two years ago, over the Thanksgiving holiday, Allison Ducluzeau started to feel pain in her stomach. At first, she assumed she had eaten too much turkey, but the pain persisted. A couple of weeks later, she saw her family doctor who requested CT scans, although none were sorted. Soon after, as the agony worsened, her partner insisted she went to the emergency unit at their local hospital on Vancouver Island. Finally, doctors confirmed the couple’s worst fears: she was almost certainly suffering from advanced abdominal cancer.

    Allison, then 56, later learned that she had stage 4 peritoneal carcinomatosis, an aggressive condition. By the time she saw a specialist early last year, he warned that she might only live a few months longer: chemotherapy tended to be ineffective for her cancer, buying a bit more time at best, and she was inoperable. Instead, she was told to go home, sort out her papers, and decide if she wanted medical assistance in dying.

    Unsurprisingly, Allison was devastated. “I could barely breathe — I went in there hoping to come out with a treatment plan but was just told to get my will in order.” That night was the worst of her life as she broke the shattering news to her son and daughter at her home in Victoria. “I told them I might only live for another two months,” she recalled. “If I’d not had my children, I might have accepted MAID [medical assistance in dying] — but when I saw the effect on them, having just been through the deaths of my own parents, it made me dig really deep.”

    So, determined to find help, she researched her condition, spoke to doctors as far away as Taiwan, flew to California for scans and eventually travelled to Baltimore for treatment. She had discovered that patients could be given debulking surgery to reduce their cancer, followed by targeted use of heated chemotherapy — yet back in Canada, she could not get even an initial telephone chat with a surgeon who performed such operations for two months. Aided by her tight circle of friends and relatives, she raised almost half the $200,000 cost for the operation by crowdfunding. By the time she managed to see an oncologist in her home province of British Columbia, she was already on the road to recovery.

    Today, Allison is in remission. She lifts weights daily, and goes running and cycling. She recently married her partner on a beach in Hawaii in front of her children. But she remains infuriated that Canadian doctors offered to kill rather than treat her. “The way it was presented was shocking,” she told me. “I was disgusted to be offered MAID twice. Once I was even on the phone, when I was on my own having just come back from Baltimore. It left me sobbing.”

    As the debate over assisted dying heats up in Britain, with Keir Starmer promising a free vote on the matter if he wins the general election, and with politicians in Jersey approving plans for its use only last week, we should take notice of Allison’s case. For she does not share the ethical or religious concerns held by many opponents of euthanasia. Nor does she oppose Canada’s 2016 MAID reform; she agreed with her father five years later that it was an “appropriate” option for his intensifying pain after many years of prostate cancer.

    But she has deep worries about assisted dying being offered by doctors in a health system that is floundering — especially with inadequate and overwhelmed oncology services when cancer patients comprise almost two-thirds of the soaring numbers of citizens opting for MAID. “We do not have a good standard of care here, especially for cancer — and that is why it is so dangerous to have MAID, especially when it can be used to take a bit of pressure off physicians and the government.” She knows of three other cancer patients whose families fear they died needlessly — including the person whose home she bought after downsizing to pay her medical bills in the US.

    Allison’s very existence challenges those who argue that Britain — with its flailing health and social care systems, shamefully long waiting lists and historically poor cancer survival rates — should rush headlong into legalisation of assisted death. So, what would she tell those advocating for the reform? “I would tell Britain to only accept assisted dying when the health service is fixed — otherwise it is a very dangerous step to take. We deserve decent and timely care rather than offers of faster death.”

    “I would tell Britain to only accept assisted dying when the health service is fixed.”

    Like her, I have no qualms over the ethics of assisted dying as an atheist — but huge concerns over its realities. This is based on my reporting on the issue from the pioneering nations of Belgium and the Netherlands, with evidence of the implications for vulnerable groups, especially those already suffering medical discrimination and societal marginalisation. One study last year, for instance, revealed eight Dutch people were subjected to euthanasia simply because they felt unable to live with their learning disability or autism, along with 16 other closely related cases. Disturbingly, many included being lonely as a central cause of their unbearable suffering.

    Yet until talking to Alisson, I had not considered the implications of injecting this irreversible reform into a struggling healthcare system. In British Columbia, faced with growing waiting lists and corrosive healthcare bureaucracy, there have been reports of a number of cancer patients forced to resort to MAID. Samia Saikali, for instance, a 67-year-old grandmother in Victoria, chose to end her life that way after waiting more than 10 weeks to see a specialist. “The word cruel comes to mind,” said her daughter Danielle, pointing out that, with aggressive cancer, this delay can be the difference between having a shot at life or certain death. “Cruel to be given such a terrible diagnosis and then told to just wait and sit and wait.”

    Yet studies indicate that Canada’s cancer care and survival rates are better than the UK, where waiting lists rose every year over the past decade. The NHS target for starting treatment after diagnosis is 62 days, showing how complacency is built into the British health system. But even this dismal target is missed for more than one-third of patients, despite there being evidence that each month of delay reduces the survival chances by about 10%. One study earlier this year into why British survival rates have fallen behind countries such as Canada found the average wait in Scotland for chemotherapy was 65 days — and 81 days for radiotherapy in Wales.

    Concerns have been highlighted by Canadian bioethics professor Jaro Kotalik, co-editor of the first full analysis of his country’s reform, who warned British MPs last year that MAID seems to be more and more “a way to compensate for lack of resources and reduce healthcare costs”. He added that palliative care “appears to be a casualty of MAID” with reduced access, leaving some patients to feel that assisted dying was their only option since “their suffering has been inadequately addressed or because they perceive that their families or social supports would carry an excessive burden”.

    “MAID has become a way to compensate for lack of resources and reduce healthcare costs.”

    Kotalik maintains that there had been far too little investigation or oversight of MAID since its introduction. “There is no real governance of this national programme, which relies for the purpose of collecting information about applicants and deaths entirely on self-reporting by providers,” he said. “I’m concerned about the possibility of people choosing MAID without the full or correct diagnosis, especially in cancer when oncologists are not involved. Options for a cancer patient should not be assessed just by a general practitioner or nurse practitioner so I worry patients are not fully informed about alternative options with different treatments and more comfortable outcomes.”

    Such warnings become even more pertinent in light of the surging MAID toll on Vancouver Island, a haven for wealthy retirees with its beautiful beaches, forests and mountains. Euthanasia campaigners often reject claims that reform leads to a “slippery slope”, although numbers keep rising and icriteria have been expanded in nations that led the way. In the Netherlands — which in 2002 pioneered assisted dying for patients — it accounts now for one in 20 fatalities, with 58 couples dying together last year and the rules extended to include terminally ill children.

    Canada has also seen MAID cases soar each year — and once again, protections have been eroded. In 2021, the central rule that natural death had to be “reasonably foreseeable” was removed. Latest figures disclosed that 13,102 people ended their lives under the scheme in 2022, a rise of 30% over the previous year despite postponement until 2027 of the controversial expansion to people with chronic mental illness. The country is catching up fast on Holland’s rate with 4.1% of deaths aided by doctors. Its annual MAID report also revealed that more than one-third of those choosing to die felt themselves a burden on family, friends or caregivers. Inevitably, there have been significant controversies with reports of pressurised fatalities involving disabled, elderly and impoverished citizens.

    Meanwhile, the rate of MAID cases under Vancouver Island’s health authority is more than twice as high as the rest of Canada; indeed, it may well be the world’s highest since it accounts for almost one in 10 deaths. I heard various explanations for this, ranging from the struggling state of the region’s cancer services through to a history of legal, social and medical activism in support of euthanasia.

    Prominent practitioners include Stefanie Green, founding president of the Canadian Association of MAID Assessors and Providers, who has assisted more than 400 deaths. She spent two decades as a family doctor focusing on maternity and new-born care before turning to assisted dying. “I’d always been interested in the intersection between medicine and ethics,” she told me. “The more I looked into it, the more I was drawn to it. The skill set was almost identical. It required a knowledgeable person to take people through a natural event. I would be with them during a very intimate event. It would take time to build up the trust. It is intense, it is intimate, there are the family dynamics.”

    When I asked if medically induced death was really “a natural event”, she insisted that “the death is imminent” before adding that she found the work deeply moving. “Patients are grateful, families are grateful, and I am facilitating their final wishes. I am certain in all the cases they are 100% eligible, both legally and medically. The work is done properly. It is not for me to decide on their situation. It is their personal autonomy.”

    Green is both passionate and proud of her work: intriguingly, she faces far more protests over the single day a week she spends performing infant circumcisions from campaigners who argue it is an infringement of the child’s rights. She agrees, however, that patients such as Allison have every right to feel disappointed. “She should feel aggrieved that the Canadian health system is not working efficiently and failed her. I will also demand better resources with more doctors and nurses. The government has failed — but that is not reason to cancel the MAID programme. It needs to be delivered carefully and cautiously.” Likewise, she agrees society often fails people with disabilities. “We must act to remedy this — but this shouldn’t mean we cancel desired, needed, legal medical services.”

    Green stresses that MAID requires people to make their own request to terminate their lives. “It cannot be triggered by anyone else. It cannot be coerced — subtly or explicitly. It must be consistent with their own values; they must demonstrate capacity. It is far, far more common to see people coerced out of their request for MAID than to have someone show up who has been coerced into making this choice — which we then note and find them ineligible.”

    This debate is a moral minefield, with emotive and valid arguments on both sides. There is, however, a global drift towards legalisation of assisted dying, from Ecuador to Germany. In Britain, as lawmakers across the Channel prepare to debate assisted dying, YouGov polling suggests similar legislation would be backed by 44% of voters, although 31% remain unsure — and surveys have suggested twice as many people with disabilities would be concerned by a change in the law as support it, despite claims from campaigners to the contrary.

    Christopher Lyon, a social scientist at the University of York, believes Britain should be very cautious in following Canada’s lead after witnessing his father’s assisted death in a drab Victoria hospital room in the summer of 2021. He was left highly disturbed by the experience, believing his father failed to meet the correct criteria for being moved rapidly to the category of “reasonably foreseeable” death, as well as being depressed and possibly drunk when giving consent. “It was absolutely horrific,” he said. “Britain would be wrong to go down this path. You see some people making the same arguments as in Canada about personal autonomy, control and the right to make decisions to end your life. It is perhaps a choice for people in very rare cases with extreme and unmanageable suffering at the very end of life, which is not what we see in Canada. But there is no doubt the evidence points towards a slippery slope with widening access — although it is really more of a cliff face. Ultimately, I doubt any assisted death system can be made safe.”

    Lyon told me he was neutral on this issue before seeing his 77-year-old father die. “It is horribly hard to see your father in distress being killed by a doctor with no attempt to help. It is almost indescribable. It came across as so cruel — but also so avoidable.”

    Tyler Durden
    Mon, 06/03/2024 – 21:45

  • High-Flying Commodity Sectors Set to Keep Climbing
    High-Flying Commodity Sectors Set to Keep Climbing

    By Farah Elbahrawy, Bloomberg markets live reporter and strategist

    Outperforming mining and energy stocks are set for further gains as a constructive backdrop for commodity prices and demand is set to support earnings.

    Basic resources and energy shares have outpaced the benchmark over the past three months, despite May’s drop in crude prices. Strategists are turning increasingly positive, with shareholder payouts and a wide discount to the market supporting the case for the sector.

    JPMorgan’s Mislav Matejka said miners’ earnings-per-share will be supported by gains in industrial commodity prices by the second half of the year. He also likes the energy sector “which offers strong cash flow generation, attractive dividend yield, and is a geopolitical hedge.”

    Profits are set to recover after stalling for two years, with analysts expecting the European energy and materials sectors to gain in 2025, according to data compiled by Bloomberg Intelligence.

    Morgan Stanley analysts led by Martijn Rats retain an attractive industry view as the structural outlook for energy companies over the coming years “continues to be in good shape.” They expect oil prices will trend higher this summer as seasonal demand strength creates a deficit in crude balances.

    The case for energy stocks is also underpinned by their massive shareholder payouts. Companies like Shell and BP doubled down on making buybacks a priority this earnings season. European companies are expected to return over €600 billion ($652 billion) to shareholders this year, a decade-high, and energy firms are set to be one of the biggest contributors. Investors are also monitoring a wave of mergers and acquisitions in the sector.

    Another team of Morgan Stanley analysts including Alain Gabriel is also positive on metals and mining stocks in Europe, saying miners trade at a steep discount to the market relative to history. “A stable demand environment and continued focus on supply stress continues to underpin a solid commodity price environment,” they said.

    Societe Generale strategists including Manish Kabra said equities rather than metals are now a more attractive way to play the boom in commodity prices. “The current rise in metal prices suggests an inflection in EPS momentum ahead for the mining sector,” he said, adding his team prefers miners to energy stocks.

    China’s recovery is another driver investors are closely monitoring, with mixed signals emerging in recent days. Official data showed the country’s factory activity unexpectedly contracted in May, a warning sign from the area of the economy that Beijing is most reliant on to drive growth. A different poll showed manufacturing activity expanded.

    One of the key risks for commodity shares “is the lack of momentum in industrial activity in China and the property sector,” Liberum strategist Susana Cruz said. “That, added to a slowdown in the US economy reduces the upside for the sector,” though improving momentum in Europe could support demand in the second half of the year.

    Tyler Durden
    Mon, 06/03/2024 – 21:04

  • Louisiana Bill Authorizing Physical Castration For Sex Offenders Heads To Governor’s Desk
    Louisiana Bill Authorizing Physical Castration For Sex Offenders Heads To Governor’s Desk

    Authored by Matt McGregor via The Epoch Times (emphasis ours),

    Louisiana Attorney General Jeff Landry (C) speaks during a press conference at the U.S. Capitol in Washington, on Jan. 22, 2020. (Drew Angerer/Getty Images)

    A proposed bill that would enforce surgical castration as opposed to chemical castration for those convicted of rape has advanced in the Louisiana legislature.

    The bill is now headed to Republican Gov. Jeff Landry’s desk to be signed or vetoed.

    Senate Bill 371, sponsored by state Sen. Regina Barrow, a Democrat, would sentence those 17 and older who have been convicted of the rape of a victim under the age of 13 to be physically castrated.

    It passed in the state House 74–24 and in the Senate 29–9.

    “Proposed law further provides that the procedure is contingent upon a determination by a court-appointed medical expert that the defendant is an appropriate candidate for surgery, which determination must be made within 60 days of imposition of sentence,” the bill reads. “Proposed law further provides that when the offender is sentenced to a period of incarceration or confinement, the procedure must be performed no later than one week prior to the release of the offender.”

    The Department of Public Safety and Corrections would oversee the procedure; however, it “will not be performed if not medically appropriate.”

    “Proposed law further provides that if an offender fails to appear or refuses to undergo the procedure, the offender may be charged with failure to comply with the court order and sentenced to imprisonment for between three and five years, without benefit of parole, probation, or suspension of sentence,” the bill states.

    Expands on Previous Castration Law

    According to state law, voluntary castration for people convicted rape date back to 2008, when the legislature passed legislation that sentenced a sex offender “to be treated with medroxyprogesterone acetate, or MPA.”

    “However, in lieu of treatment with medroxyprogesterone acetate (MPA), the court may order the defendant to undergo physical castration provided the defendant file a written motion with the court stating that he intelligently and knowingly, gives his voluntary consent to physical castration as an alternative to the treatment,” the act states.

    The new legislation proposed by Sen. Barrow expands on the previous act by authorizing a judge to order a physical castration to those convicted of a sex offense in which the victim was 13 or under, according to the bill.

    In April, 54-year-old Glenn Sullivan pleaded guilty to four counts of second-degree rape of a 14-year-old that resulted in her pregnancy, according to a press release from Louisiana District Attorney Scott Perrilloux.

    As a part of his sentence, Mr. Sullivan will be physically castrated, in addition to serving 50 years in prison.

    “The case stems from a July 2022 Livingston Parish Sheriff’s Office investigation,” the press release said. “A young woman told detectives that Sullivan had raped her multiple times when she was just 14-years-old. As a result, the juvenile became pregnant, and a DNA test that was ordered during the course of the criminal investigation proved Sullivan had impregnated her.”

    The press release stated that Mr. Sullivan had also allegedly groomed her and threatened her family to prevent her from speaking out.

    “So many of these types of cases go unreported because of fear,” Mr. Perrilloux said. “The strength it must have taken for this young woman to tell the truth in the face of threats and adversity is truly incredible.”

    Tyler Durden
    Mon, 06/03/2024 – 20:55

  • Cycling Has Shifted To A Higher Gear Since COVID
    Cycling Has Shifted To A Higher Gear Since COVID

    Commemorated on June 3 each year, World Bicycle Day is celebrated to promote the benefits of cycling and recognize its importance as a simple, affordable and environmentally friendly mode of transportation.

    The United Nations declared this observance in April 2018 to highlight the bicycle’s role in fostering sustainable development, health and well-being, encouraging governments and societies to embrace cycling as a means to reduce pollution and enhance the quality of life in urban and rural areas alike.

    In the United States, a firmly car-centric society, the bicycle plays a relatively minor role compared to large parts of Europe, where people are much more likely to rely on their bikes for everyday transportation. During the Covid-19 pandemic, however, which forced gyms to shutter and public transportation to suspend operations, millions of Americans re-discovered bicycles as a safe, socially-distanced form of physical exercise and transportation. The bike boom hit retailers unprepared, causing new bicycles to become a scarce commodity, exacerbated by the fact that global bicycle supply was also constrained due to Covid-19.

    As Statista’s Felix Richter shows in the chart below, according to inflation-adjusted figures published by the U.S. Bureau of Economic Analysis, Americans spent $5.3 billion on bicycles and accessories in 2020, up from an average of $4.7 billion between 2015 and 2019.

    Infographic: Cycling Has Shifted to a Higher Gear During Covid-19 | Statista

    You will find more infographics at Statista

    The trend continued in 2021, when consumer spending on bicycles and accessories grew past $6 billion, surpassing the pre-pandemic average by almost 30 percent. Looking at the past two years, consumer spending on bicycle gear has plateaued at that level, fueling hopes that the industry could remain in a higher gear compared to pre-Covid days.

    Tyler Durden
    Mon, 06/03/2024 – 20:30

  • Software Update "Glitch" Blamed For NYSE Market Break That Sparked Berkshire Wipe Out, Trading Halt Cascade
    Software Update “Glitch” Blamed For NYSE Market Break That Sparked Berkshire Wipe Out, Trading Halt Cascade

    Update (8:00pm ET): In a flashback to the early 2010s when markets broke on a daily basis, we are back to blaming “glitches” for broken markets and flash crashes.

    Hours after a new generation of traders experienced a partial market flash crash that wiped out the entire market cap of Berkshire Hathaway and halted trading on about 40 other stocks after their circuit breakers were triggered, Bloomberg reports that the culprit was a “glitch” during a software update early on Monday.

    The disruption, the third such episode to hit otherwise peaceful US markets in the past week, was resolved after roughly 45 minutes when the Consolidated Tape Association, whose systems are operated by a NYSE subsidiary, reverted to a backup data center running a different software version. NYSE said it will cancel the bad trades in Berkshire Hathaway and is reviewing the erroneous halts to determine whether to cancel any of those.

    The forced pauses, which began shortly before 9:45 a.m. in New York, came as CTA was rolling out a change in the software that governs which opening prices display on the Securities Information Processor, the feed that consolidates bid and ask quotes made on various exchanges.

    As noted earlier, about a dozen trades in Berkshire Class A shares went off at $185.10 around 9:50 am ET before trading was halted. The stock closed Friday at $627,400. NYSE said any trade between 9:50 and 9:51 at or below $603,718.30 will be canceled. NuScale Power had a similar glitch, with trades that printed at about 99% below the prior price.

    The sudden disruption did not affect Nasdsaq-listed shares and had minimal impact on the broader market, though it came as trading infrastructure adapts to one-day settlements from two, known as T+1. A glitch Thursday left the S&P 500 Index without live pricing for more than an hour. Two days earlier, an exchange had problems interfacing with the data dissemination feed.

    “A little weird, but almost undoubtedly coincidental,” said Steve Sosnick, chief strategist at Interactive Brokers LLC, of the NYSE issue after last week’s S&P 500 Index glitch. “We’ve gotten used to huge amounts of uptimes without exchange incidents, so when a couple of glitches in a row occur it is notable.”

    “I would assume that those bad trades will be broken,” Jonathan Corpina, NYSE floor trader and senior managing partner at Meridian Equity Partners, told Bloomberg. “I’m more curious how did this happen? I understand what happened, but I want to understand how?”

    The limit up-limit down trading bands typically govern when stocks are paused for volatility. The SIP is a single data feed where regulatory bodies process and consolidate bid and ask quotes and trades from all US exchanges. Equities trading in the US is executed on more than a dozen exchanges, with all of the bid and ask orders consolidated on data feeds that are distributed worldwide. NYSE, which is owned and operated by Intercontinental Exchange Inc., operates multiple exchanges including NYSE Arca and NYSE American.

    The firm consolidates order data from various exchanges at the Consolidated Tape Association. Together, those constitute Tapes A and B. Nasdaq Inc., owner of the Nasdaq exchanges, operates a separate consolidated feed known as Tape C. Volumes on American exchanges are calculated by adding the three tapes.

    As Bloomberg notes, the disruptions are reminiscent of a confusing episode in January 2023, when a staffer at the New York Stock Exchange’s backup data center in Chicago left a backup system running in an error that led to wild price swings for hundreds of stocks when the market opened.

    “Whether a coincidence or not, it is certainly causing a pile of confusion on the street for the second session out of the last three,” Dave Lutz, head of ETFs at JonesTrading, said in a message.

    * * *

    Update (12:02pm ET): After a cascade of circuit breakers pushed various NYSE stocks and instantly halted trading, the Exchange said in an email that the technical issue with industrywide price bands published by the CTA SIP has been resolved and all systems are currently operational.

    • All impacted stocks have reopened
    • Price band issue has been resolved
    • Issue triggered trading halts in a number of NYSE listed stocks

    As we noted earlier, the technical error at the New York Stock Exchange resulted in numerous erroneous trading volatility halts, including for Berkshire, Chipotle and Abbott :abs, and odd trades in at least two stocks early in the cash session Monday. Bloomberg adds that the forced pauses, which began shortly before 9:45 a.m. in New York, were resolved not long after 11 a.m. and the stocks resumed normal trading, according to statements from NYSE. The firm said a technical issue with the “industry-wide” price bands published by the Consolidated Tape Association Securities Information Processor led to the halts.

    As we also noted earlier, trades Berkshire Hathaway/A shares appeared to go off at mistaken prices. About a dozen trades showed shares changed hands at $185.10 around 9:50 a.m., a discount of 99.97% to Friday’s closing price of $627,400. NuScale Power had a similar glitch, with trades that printed at about 99% below the prior price.

    “It’s very confusing that it’s happening in just a few shares,” said Jonathan Corpina, senior managing partner at Meridian Equity Partners, who typically works on the floor of the NYSE. “I would assume that those bad trades will be broken.”

    A representative for NYSE declined to comment on the matter beyond the exchange’s market status update page. Intercontinental Exchange Inc. is the owner of the New York Stock Exchange.

    The limit up-limit down trading bands typically govern when stocks are paused for volatility. The SIP is a single data feed where regulatory bodies process and consolidate bid and ask quotes and trades from all US exchanges. The sudden disruptions Monday come just days after a glitch left the S&P 500 Index without live pricing for an hour, and as the market adapts to quicker settlement times for US stock trades.

    “A little weird, but almost undoubtedly coincidental,” said Steve Sosnick, chief strategist at Interactive Brokers LLC, of the NYSE issue after last week’s S&P 500 Index glitch. “We’ve gotten used to huge amounts of uptimes without exchange incidents, so when a couple of glitches in a row occur it is notable.”

    Chipotle was down 1.2% at 9:44 a.m. New York time when it was halted. Abbott gained as much as 1.9% on Monday. Halts are normally triggered by a series of factors, most commonly for rapid and large changes in price and volume. Chipotle resumed trading at 10:21 a.m. in New York and was down about 2.5%.

    * * *

    Something snapped just after 9:40 am, when as the market was still reeling from the latest idiotic move in meme stonks, we just saw one of the world’s largest companies – Berkshire Hathaway – wipe out just about 100% of its value and crash to basically zero…

    … amid a cascading wave of trading halts sparked by a break at the NYSE:

    • *MULTIPLE NYSE STOCKS SHOWING VOLATILITY TRADING HALTS

    … which the exchange quickly admitted it was at fault for.

    • *NYSE EQUITIES INVESTIGATING REPORTED TECHNICAL ISSUE

    The full list of halts can be found on the NYSE site and includes the following names:

    Among other notable names that crashed and were halted on a Limit Up, Limit Down Circuit breaker were Chiptole, BMO, NuScale.

    And while we wait to learn what exactly caused today’s “market break” which may have just afforded us a glimpse of true market values, we can only reminds readers of the immortal words of the Big Lebowski:

    Tyler Durden
    Mon, 06/03/2024 – 20:20

  • Magnesium Deficiency Linked To Metabolic Syndrome – Here's How To Boost Intake
    Magnesium Deficiency Linked To Metabolic Syndrome – Here’s How To Boost Intake

    Authored by Zena le Roux via The Epoch Times (emphasis ours),

    (Sergey Neanderthalec/Shutterstock)

    In our pursuit of optimal health, an often-overlooked mineral has quietly emerged as a potential game-changer: magnesium.

    More than half of the American population—with some estimates suggesting a staggering 75 percent—are failing to meet the recommended dietary intake of this vital nutrient, possibly hurting their metabolic health.

    The Myriad Roles of Magnesium in the Body

    Magnesium is essential for optimal bodily function, acting as a cofactor in numerous enzymatic reactions. It regulates cardiovascular physiology, stress responses, inflammation, and hypertension and enhances glycemic control when combined with vitamin D, making it crucial for metabolic health. Magnesium deficiency is prevalent among obese individuals.

    Common symptoms of magnesium depletion include muscle cramps, headaches, eye twitches, insomnia, fatigue, irritability, and a sensation of a “lump” in the throat, Dr. Nathali Morrow-van Eck, a functional-integrative general medical practitioner in Pretoria, South Africa, told The Epoch Times. These symptoms stem from magnesium’s role in supporting the gamma-aminobutyric acid (GABA) brain system, essential for relaxation and stress reduction.

    Magnesium also activates the COMT gene, a protein-coding gene that helps with anxiety management and hormone metabolite detoxification (the body’s process of eliminating byproducts).

    With magnesium involved in over 300 bodily functions, deficiency signs often manifest subtly, initially affecting energy production processes, Katrina Farrell, a registered nutritional therapist, told The Epoch Times.

    The Magnesium–Metabolic Syndrome Connection

    A 2024 study published in the Journal of Clinical Endocrinology & Metabolism examined the link between magnesium depletion and metabolic syndrome. The analysis of 15,565 participants revealed that the likelihood of developing metabolic syndrome increased by almost one-third for every incremental rise in the magnesium depletion score.

    This correlation persisted across diverse populations, regardless of behavioral or sociodemographic factors, suggesting that addressing magnesium deficiency could be a preventive measure against metabolic syndrome, whether through dietary modifications or supplementation.

    Magnesium plays a crucial role in various aspects of digestive health. It helps with producing digestive enzymes, nutrient absorption, and peristalsis, the wave-like motion that propels food through the digestive tract. Insufficient magnesium can lead to constipation and bloating.

    Continuously low magnesium levels affect insulin function, rendering it less effective and impeding metabolism. As a result, magnesium deficiency can contribute to weight-management challenges, Type 2 diabetes, and prediabetes, according to Ms. Farrell.

    Experimental magnesium deficiency in rats has been linked to inflammation, hypertriglyceridemia (high levels of triglycerides in the blood), and changes in lipoprotein metabolism, according to a scientific review published in Magnesium Research. Magnesium’s impact on intracellular calcium homeostasis may be a unifying factor connecting stress and inflammation and may be behind their potential contribution to metabolic syndrome.

    Magnesium is vital for insulin and glucose metabolism because it facilitates insulin receptor function, acting as a cofactor for enzymes involved in glucose breakdown and oxidation and regulating insulin secretion. Low magnesium levels can lead to insulin resistance and impaired glucose uptake by cells, thereby disrupting overall metabolism and increasing the risk of metabolic disorders like Type 2 diabetes.

    Why Are We Not Getting Enough Magnesium?

    Magnesium depletion has become increasingly prevalent, attributed to various factors in modern lifestyles, Ms. Farrell said.

    Contemporary farming methods have led to declining magnesium levels in our food supply. Additionally, processed foods, ubiquitous in today’s diets, often lack sufficient magnesium content. Alcohol and certain medications, such as proton pump inhibitors (PPIs), usually prescribed for chronic acid reflux, can deplete magnesium reserves.

    Excessive caffeine consumption can also deplete magnesium levels.

    Stress is another major culprit behind magnesium depletion, Ms. Farrell added. During periods of stress, the body releases magnesium as part of the stress response. Consequently, whether acute or chronic, stress can rapidly deplete magnesium levels.

    Research published in The Clinical Biochemist Reviews suggests that serum magnesium levels fluctuate with different types of exercise. Levels tend to increase after brief, maximal exercise but decrease following endurance exercise.

    How to Increase Magnesium Intake

    Diet is crucial for obtaining sufficient magnesium, Ms. Farrell said.

    Grain refining and food processing diminish magnesium content, leading to up to an 85 percent reduction. Boiling magnesium-rich foods also results in significant magnesium loss. Opting for raw, whole foods provides a natural and potent source of the mineral.

    Ms. Farrell advocates a “food-first” approach, emphasizing nuts, seeds, and leafy greens in daily meals to boost magnesium intake. She also recommends Epsom salt baths, magnesium body lotions for relaxation and rejuvenation, and exploring magnesium supplements tailored to people’s needs.

    Dr. Morrow-van Eck recommends both oral and transdermal magnesium products. A person’s absorption of dietary magnesium from the gut can range from 24 percent to 76 percent. The absorption rate primarily depends on the individual’s magnesium status rather than their intake. When the body’s magnesium level is lower, a higher percentage of dietary magnesium is absorbed.

    For oral supplementation, she prioritizes optimal doses of the most bioavailable forms, such as magnesium threonate, glycinate, and citrate. For targeted relief, she suggests applying transdermal magnesium chloride and massaging it into areas of concern for optimal absorption.

    The Limitations in Assessing Magnesium Levels

    Optimal health outcomes often result from a balanced and varied diet that provides a spectrum of essential vitamins, minerals, and other nutrients, Ms. Farrell said. She noted that the effects of nutrients are often enhanced or modulated by the presence of other nutrients rather than their operating independently.

    An example is the relationship between vitamin D and magnesium. While vitamin D relies on magnesium for transportation and activation, magnesium plays a pivotal role in various bodily functions, including gut health, immune function, and skin health. Low magnesium levels can hinder vitamin D’s effectiveness even if one has sufficient vitamin D levels.

    Regarding magnesium assessment, Ms. Farrell advises against relying solely on blood tests, as magnesium is primarily stored in organs and bones, not in the bloodstream. Blood tests, therefore, do not provide a complete picture. She suggests that considering symptoms, habitual alcohol consumption, or high levels of stress might better indicate whether more magnesium is needed.

    Possible Side Effects

    While magnesium from dietary sources poses no significant risks, excessive magnesium intake through dietary supplements may lead to adverse effects such as diarrhea, nausea, and abdominal cramping, according to the National Institutes of Health (NIH). Diarrhea is commonly associated with magnesium chloride, gluconate, carbonate, and oxide. People with impaired renal function or kidney failure are particularly susceptible to magnesium toxicity, which typically occurs when serum concentrations surpass 31.35 to 47.02 milligrams per deciliter (mg/dL), or 1.74 to 2.61 millimoles per liter (mmol/L). Also, several medications can influence magnesium levels or interact with magnesium supplements.

    To optimize efficacy and minimize interactions, separate the intake of magnesium supplements and oral bisphosphonates by at least two hours. This precaution is essential as magnesium supplements can impede the absorption of bisphosphonates like alendronate (Fosamax), commonly prescribed for osteoporosis treatment.

    To avoid potential interaction, take specific antibiotics either two hours before or four to six hours after consuming magnesium-containing supplements. This timing is critical because magnesium can form insoluble complexes with certain antibiotics.

    Tyler Durden
    Mon, 06/03/2024 – 20:05

  • E-Trade May Ban 'Roaring Kitty' From Platform For Market Manipulation
    E-Trade May Ban ‘Roaring Kitty’ From Platform For Market Manipulation

    ETrade has had enough of the stock shenanigans of meme stock guru Keith Gill, also known as Roaring Kitty, who just happens to be a client of the online brokerage now owned by Morgan Stanley. Gill’s non-stop promotion of GameStop on social media, coupled with giant trades, raised concerns about potential stock manipulation. This could force E*Trade to dump the retail trader, according to Wall Street Journal sources.

    The scale of Gill’s online influence, with millions of followers across various social media platforms, and his active promotion of the struggling video game retailer, has sparked concern among executives at the Morgan Stanley-owned trading platform. The firm is uncomfortable with Gill’s presence on the trading platform, as it could attract unwanted attention, given his significant reach. 

    That power created concerns he can pump up a stock for his own benefit. Their debate includes whether his actions amounted to manipulation and whether or not the firm is willing to risk drawing the attention of his meme army by removing him, according to people familiar with their internal discussions. -WSJ 

    With the SEC unable to decide how to approach the bizarre pump (and dump), and whether to classify Gill’s unique social media style as market manipulation, brokerages are now taking action into their own hands.

    The sources confirmed what became public knowledge late on Sunday, namely that Gill bought a “large volume of GameStop options on E*Trade” before the first pump in May. 

    Morgan Stanley employees, knowing that Gill is a customer, looked at his E*Trade account, according to people familiar with the matter. That sort of monitoring of clients is routine.

    The employees saw he had purchased call options before the tweet, the people said. A call option gives a trader the right to buy the stock by a certain date at a stated price. At least some of those options expired that week, one of the people said. That meant Gill’s trades likely generated profits thanks to the stock move his tweet generated.

    Gill’s trading continued, likely loading up with equity and short-term options ahead of Sunday’s posting of his E*Trade account. He showed GME stock valued at $115.7 million, $65.7 million in GME short-term options, and $29 million in cash.

    The post alone on Reddit triggered a stock frenzy in GME on Monday but quickly faded late into the session.

    The people said the debate about Gill as a client at Morgan Stanley began three weeks ago, around the time of the first GME pump. They said no decision has been made yet. 

    One of the biggest red flags around the first pump was GME’s ability to slam the market with an offering of 45 million shares, allowing the company to raise $933 million, and sparking speculation that Gill was working alongside the company.

    Meanwhile, sentiment around Gill is shifting: far from the “authentic” retail daytrading beacon that he became in early 2021 when his foray into the historic Gamestop short squeeze sparked the meme stock frenzy, his latest AUM which is clearly in the hundreds of millions “appearing more like manipulation without a solid thesis”, has prompted speculation that far from working for himself, Gill may be in cahoots with one or more hedge funds…

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

    … while established voices such as Clifford Asness slammed the “internet scammer” whose “coming back to pump and dump again is insane. It’s a cult. It’s an angry clueless cult (are there other kinds) angry about nonexistent scams and following ridiculous cult leaders.“

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

    But what may be the most damning twist in this latest episode of meme stonk mania is that the other OG of the daytrading movement, Dave Portnoy himself, asked if he is a big mark for Roaring Kitty.

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

    Tyler Durden
    Mon, 06/03/2024 – 19:40

  • Trump Makes Big Promise On Gaza War To UFC Superstar Khabib
    Trump Makes Big Promise On Gaza War To UFC Superstar Khabib

    Via Middle East Eye

    Former US president Donald Trump appears to have made his biggest and boldest campaign promise yet. During a Ultimate Fighting Championship (UFC) event in Newark, New Jersey on Saturday, the 2024 presidential hopeful vowed that he would stop Israel’s devastating war in Gaza when confronted by former mixed-martial artist and UFC legend Khabib Nurmagomedov.

    Following Islam Makhachev submission victory over Dustin Poirier for the Lightweight Championship, Nurmagomedov, who serves as a coach for Makhachev, was heard telling Trump: “I know you will stop the war in Palestine.”

    Trump, who routinely touts his support of Israel but has also been critical of the war on Gaza, responded by saying: “We will stop it. I will stop the war.”

    The clip was shared widely on X, formerly known as Twitter, and has since made rounds on other social media platforms to much praise. “Love seeing Khabib tell Trump to stop the genocide,” said former UFC fighter and anti-war activist Jake Shields.

    “Overall I like Trump much more than Biden but his unequivocal support for Israel is a deal-breaker for me. Almost all of his funding comes from ultra zionist so he’s unlikely to switch directions but still good hes hearing it.”

    “Bro just accomplished more than all of our Arab leaders in this war,” another user said. “This is what you call using your voice and name to call for change,” another added. 

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    Others, however, were quick to point out that Trump’s statements and actions whilst in office did not inspire much confidence. “Trump won’t do it. He literally gave the Golan Heights to Israel. Moved the embassy to Jerusalem. He will sell the US out for Israel. Always,” one user wrote on X. 

    “He just said two weeks ago that Israel should be allowed to finish the job,” posted another. “He says one thing and then the complete opposite the next day. This is how everyone is able to project what they want to hear onto him.”

    Israel’s war on Gaza, now nearing its ninth month, has turned much of the enclave, which is home to more than two million Palestinians, into an uninhabitable hellscape. Whole neighborhoods have been erased. Homes, schools and hospitals have been devastated by air strikes and scorched by tank fire. 

    Nearly the entire population is reported to have fled their homes, and those who remained in northern Gaza are on the verge of famine. More than 36,000 people have been reported killed, the great majority of them women and children, according to Gaza Health Ministry figures. Thousands more are missing or presumed to be dead under the rubble.

    ‘Most pro-Israel president’

    Trump’s comments come amid increasing frustration among staffers within the Biden administration and US voters at the president’s handling of the war, with a growing number of staff resignations and reports of internal dissent. 

    However, while experts say the surge of “uncommitted” voters in the Democratic primaries is sending Biden a message that his administration’s policy on Gaza will cost him ahead of the presidential election in November, Trump’s ability to court voters on Palestine is limited.

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    Trump has repeatedly labelled himself the most pro-Israel president in US history, noting his decision to move the US embassy in Israel from Tel Aviv to Jerusalem, and his backing of Israel’s claim to sovereignty over the occupied Golan Heights – something “nobody even asked for”.

    In an interview with Real America’s Voice, Trump previously said: “Any Jewish person that votes for Biden does not love Israel and, frankly, should be spoken to.” He added that he does not understand “how a Jewish person can vote for Biden or a Democrat because they are on the side 100 percent of the Palestinians”.

    Earlier this month, he reportedly told donors during a closed door meeting that he would pursue a zero-tolerance policy US college campus protesters, adding he would deport those who weren’t US citizens. 

    “If you get me elected, and you should really be doing this. If you get me reelected, we’re going to set that movement back 25 or 30 years,” he reportedly said. Earlier on Saturday, Trump, who was recently found guilty on 34 felony charges in his “hush money trial,” was welcomed with deafening roars of adulation when he made his way into the Prudential Center alongside UFC CEO Dana White.

    Tyler Durden
    Mon, 06/03/2024 – 19:15

  • The India Stock Story Is More Than Just What Happens This Week
    The India Stock Story Is More Than Just What Happens This Week

    By Ven Ram, Bloomberg markets live reporter and strategist

    Stock markets in India have run away with the idea of voters giving the green light for further economic reform, but gains may moderate toward the end of the day.

    The Sensex has run up 3% after exit polls showed a decisive majority for Prime Minister Narendra Modi’s party. The scale of the rally suggests that traders have priced in a landslide victory, but given the inconsistent nature of exit polls, some traders may be inclined to take money off the table ahead of the actual election results due on Tuesday. With the markets having priced in the best outcome, there is little room for upside surprise from here.


     
    Elections results aside, valuations — while not overexuberant — sound a note of caution. The Sensex offers a prospective earnings yield of about 4.75%, lower than an average of 5.33% that has prevailed historically. The Nifty offers 4.85%, compared with a mean of 5.52%.

    However, beyond the here and now, stocks in India are bound to fare well. Before today’s effervescent rally, the market cap of the nation’s shares was some $4.7 trillion, a number that is commensurate with the size of its economy.

    Data last week showed that gross domestic product rose 7.8% in the three months through March, compared with a forecast of 7% — a margin of beat that is isn’t common in mature economies and ones that are as big as India’s. Indeed, given the frantic pace of growth, S&P Global forecasts that the domestic economy will grow from $3.5 trillion in 2022 to $7.3 trillion by 2030 to emerge as the world’s third largest.

    The S&P has, meanwhile, affirmed the nation’s foreign- and local-currency debt rating to positive, opening the path toward a higher rating over the next couple of years. That, together with expected interest rate cuts from the central bank, will bring down companies’ cost of capital, boosting margins.

    The rupee has rallied on the back of exit polls, but the Reserve Bank is likely to absorb excess inflows to build its reserves — meaning I don’t expect unmitigated gains. The currency’s stability, however, augurs well for foreign investors repatriating money, adding another reason to be bullish on the nation’s stocks over the longer term.

    Tyler Durden
    Mon, 06/03/2024 – 18:50

  • Massive Australian Truck Convoy Protests Live Sheep Export Ban
    Massive Australian Truck Convoy Protests Live Sheep Export Ban

    Authored by Monica O’Shea via The Epoch Times (emphasis ours),

    A truck drives on a road in Albany, Western Australia, on April 19, 2024. (Susan Mortimer/The Epoch Times)

    A huge truck convoy has descended on Western Australian (WA) roads to protest the Labor government’s ban on live sheep exports.

    More than 1,350 trucks registered to participate in the rally in Perth to send a message to the government about the proposed ban.

    Large trucks with signs “keep the sheep” and “stand with our farmers” were seen on Perth highways on May 31, while onlookers displayed a banner with the words “we love farmers.”

    This comes after the Labor Party introduced legislation to parliament on May 30 that will stop live sheep from being exported from Australia by sea from May 1, 2028.

    The Export Control Amendment (Ending Live Sheep Exports by Sea) Bill 2024 (pdf) amends the Export Control Act 2020 and will delegate sheep to the “permanently prohibited exports” list.

    Shadow Assistant Trade Minister Rick Wilson joined WA Livestock and Rural Transporters Association vice president Ben Sutherland at the convoy.

    “This grass roots movement is gaining momentum and getting overwhelming support in the city as well as the regions,” Mr. Wilson said.

    Mr. Wilson seconded an urgent motion in the House of Representatives seeking a parliamentary inquiry into the decision on May 30.

    “It’s an absolute disgrace, no consultation from the minister or any of the members of the Labor Party with Western Australian farmers,” he said in a video.

    “They’ve made this unilateral announcement, and [it] is now in the parliament in the process of becoming law.”

    WA Livestock and Rural Transporters Association vice president Ben Sutherland, a co-organiser of the rally, and Liberal MP Rick Wilson MP. (Supplied)

    Petition Now Has 33,500 Signatures

    A Keep the Sheep petition against the ban has received 33,500 signatures online at the time of publication.

    “Our campaign is bigger than just politics, it’s about people’s lives and livelihoods,” the group said. “The sheep industry has been the backbone of rural towns for over a hundred years and will soon disappear.”

    The Australian Livestock Exporters’ Council (ALEC) CEO Mark  Harvey-Sutton also rode in the cab of a truck as part of the rally in Perth.

    Mr. Harvey-Sutton said he was pleased to stand together with farmers uniting to have the “disastrous policy” reversed.

    “We know that people across WA support farmers and truckies. We know that West Australians agree that the government destroying livelihoods during a cost of living crisis is unfair,” he said.

    “We won’t stop fighting this ban and it will be an election issue for the Government in Western Australia and beyond.”

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    National Farmers Federation president David Jochinke said the prime minister, agriculture minister, and all parliamentarians need to take a “good look” and what unfolded in Perth.

    “This is a grassroots farmer demonstration of historic proportions,” he said.

    Mr. Jochinke said the convoy in Perth shows the governments have underestimated rural communities and their support for farmers, and voter intelligence.

    “I think people in WA and across Australia will start to wake up to the grubby political deal that’s been done here,” he said.

    “To those convoying today: farmers across Australia are with you. Your willingness to stand up and defend our sector is bloody legendary, and this is just the start.”

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    Explanation for the Live Sheep Ban

    Agriculture Minister Murray Watt said the Australian sheep industry now has the time, support, and certainty it needs to plan effectively for the future

    “We have put $107 million on the table to ensure those affected by the phase out are well-positioned and ready when the trade ends in May 2028,” he said.

    “This is a policy that invests in the future of the Australian sheep industry.”

    Mr. Watt added the government had promised the phase out would not take place in this term of Parliament, and setting an end date of May 1, 2028, fulfils that commitment.

    “While live sheep export numbers have plummeted in the last 20 years, now contributing just 0.1 percent of all national agricultural exports, sheep meat exports are going through the roof.”

    “Australia is now the largest exporter of sheep meat to the world, with nearly $4.5 billion in chilled and frozen sheep meat exported in 2022-23 alone.”

    Mr. Watt was under pressure to investigate the live sheep ban further on May 30, with the Nationals and Liberal Party attempting to bring about an inquiry in the lower house of Parliament.

    Following this, Minister Watt said “of course there will need to be” a Senate inquiry into the legislation on May 30.

    In response, Nationals Leader David Littleproud said Minister Watt had promised a Senate inquiry just “hours” after an inquiry into the same crucial issue was voted down in the House of Representatives.

    Mr. Littleproud said a future Coalition government will “reinstate the live sheep export trade.”

    WA National MLA Mia Davies also took part in the convoy, explaining she was heading to town to let everyone know Albanese needs to do the right thing by WA and “keep the sheep.”

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    In a post to X on May 31, Mr. Watt said Aussie meat exports have soared in just one year of our Australia-UK Free Trade Agreement.

    Mr. Watt shared an image showing beef exports are up 429 percent to $51.8 million and sheep meat exports have risen 19 percent to $100.1 million.

    “It’s delivering for Aussie farmers, workers, and consumers,” he said.

    Tyler Durden
    Mon, 06/03/2024 – 18:25

  • Hawaii's Kilauea Volcano Erupts In Area That Was Dormant Since 1974
    Hawaii’s Kilauea Volcano Erupts In Area That Was Dormant Since 1974

    Kilauea, one of the most active volcanoes in the world, is erupting again, and this time in an area that has been inactive for half a century. Alert levels have been raised across Hawaii Volcanoes National Park as there are concerns the eruption could flare up again despite only lasting six hours on Monday. 

    The US Geological Survey’s Hawaiian Volcano Observatory said the eruption was about 1 mile south of the Kilauea caldera inside Hawaii Volcanoes National Park. The last time this area experienced an eruption was in December 1974. 

    “Glow is visible in webcam imagery, indicating that lava is currently erupting from fissures,” the US Geological Survey said. 

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    HVO raised the Volcano Alert Level for ground-based hazards from a “watch” to a “warning.” The aviation color code in the surrounding area has been elevated from “orange” to “red.”

    Fox News Weather spoke with scientists who say there’s no telling how long the current eruption will last. 

    Before the eruption, USGS reported earthquake swarms on Sunday as magma moved beneath the surface. 

    In 2023, Kilauea erupted in January, June and September. An eruption in 2018 destroyed 700 homes. 

    “From 1983 to 2018, all of the activity came from two vents,” said Michael Poland, a geophysicist with the USGS, who spoke with The New York Times. 

    Poland continued, “Since 2018, it has gone away from a period of steady eruptions. Now it has discrete, usually shortish eruptions happening in several different places. Now we’re getting eruptions happening in places we haven’t seen in 50 years.”

    Tyler Durden
    Mon, 06/03/2024 – 18:00

  • Rubio's Coastal Grill Closing 48 Locations In California Due To "Rising Costs Of Business In The State"
    Rubio’s Coastal Grill Closing 48 Locations In California Due To “Rising Costs Of Business In The State”

    Rubio’s Coastal Grill, best known for its fish tacos, is shuttering 48 locations in California due to the “rising cots of business in the state”, according to a new report from ABC 10. 

    The business, based in Southern California, announced the closures in a statement this weekend that read: “Making the decision to close a store is never an easy one.”

    It continued: “Rubio’s Coastal Grill…after a thorough review of its operations and the current business climate, has decided to close 48 underperforming locations in California as of May 31, while keeping 86 stores in California, Arizona and Nevada open.”

    Jot Condie, president and CEO of the California Restaurant Association, warned that these closures could just be the beginning for the state: “Daily headlines have chronicled job losses, reduced working hours, restaurant closures and higher prices for California’s inflation-weary consumers as a direct result of this minimum wage hike.”

    He continued:  “Feedback from our members suggests this has become a breaking point for many small restaurant businesses.”

    ABC reported that Condie believes more closures will follow if the state follows through on plans for an $18 minimum wage, which will be on the ballot for voters to decide on this November. 

    Rubio’s closed 48 locations, including 11 in Northern California, 24 in Los Angeles, and 13 in San Diego.

    The El Dorado Hills Town Center branch reportedly missed several rent payments, leading to a dispute with the landlord. The center issued a three-day eviction ultimatum to Rubio’s, which closed the site the day after receiving the notice, according to town center spokeswoman Dawn Bricker.

    Bricker noted the business essentially fled overnight. Rubio’s confirmed the closure but did not comment on potential legal actions by the town center.

    The company was founded in 1983 in San Diago and is headquartered in Carlsbad, California. 

    Tyler Durden
    Mon, 06/03/2024 – 17:40

  • Israel Pounds Aleppo In Fresh Attack, Iranian IRGC Casualties Confirmed
    Israel Pounds Aleppo In Fresh Attack, Iranian IRGC Casualties Confirmed

    Israel launched major airstrikes on the northern Syrian city of Aleppo in the overnight hours, which killed an Iranian military adviser, and possibly more Iranian militia members, as well as civilians.

    “At approximately 12:20 AM at dawn on Monday, the Israeli enemy launched an aerial attack with missiles from a direction of southeast Aleppo, targeting a number of points in the vicinity of Aleppo city, and the army air defenses intercepted the aggression’s missiles and shot down some of them,” Syrian state SANA said.

    Via AFP

    “The aggression led to the martyrdom a number of civilians, and some material losses to the property,” the report added.

    Hours after the initial overnight and early morning reports of the attack, Iranian state media confirmed the death of an Islamic Revolutionary Guard Corps (IRGC) officer.

    “During last night’s attack by the Zionist regime on Aleppo, Saeed Abyar, one of the IRGC advisers in Syria, was martyred,” confirmed Iran’s Tasnim news agency.

    But there are unverified reports that many more were killed. The opposition-linked, anti-Assad war monitor Syrian Observatory for Human Rights (SOHR) reported that 16 members of pro-Iran groups were killed in the attack. The main strike location was reportedly at a copper smelting plant and weapons warehouse in the Aleppo countryside. 

    SOHR has documented forty-four Israel attacks on Syria in 2024. This includes:

    “32 airstrikes and 12 rocket attacks by ground forces, during which Israel targeted several positions in Syria, destroying nearly 92 targets, including buildings, weapons and ammunitions warehouses, headquarters, centres and vehicles. These strikes killed 164 combatants and injured 69 others…”

    Days ago, Israel bombed the coastal Syrian city of Baniyas, killing a girl along with ten other civilians, local reports said. 

    Below: unverified footage of the aftermath of the overnight strikes…

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    In the initial days and weeks after Oct.7, Syria had lobbed several rockets toward the Israeli-occupied Golan Heights, which left no casualties. Much of the Syrian populace has meanwhile become frustrated and expressed growing anger that the Russian military, which has long had a significant presence inside Syria (especially since 2015), has not done more to try and intercept inbound Israeli jets. But Israel often mounts its attacks from over Lebanese airspace.

    “Moscow strongly condemns these aggressive actions, which come in gross violation of Syria’s sovereignty and basic rules of international law,” Russia’s foreign ministry announced Monday. “Such use of force, which in the current tense regional situation can lead to extremely dangerous consequences and trigger a large-scale armed escalation, are unacceptable.”

    Tensions are soaring especially in the wake of Israel’s April 1st brazen attack on Iran’s embassy in Damascus, which left a high ranking IRGC General and several other Iranian officers dead. Additionally, in southern Lebanon Hezbollah has been upping its attacks on Israel in recent days and weeks. Hezbollah is closely allied with Damascus and Tehran.

    Tyler Durden
    Mon, 06/03/2024 – 17:20

  • Lacking Finesse, Lacking Mindfulness
    Lacking Finesse, Lacking Mindfulness

    Submitted by QTR’s Fringe Finance

    While I can count on one hand the number of captivating in-person conversations I’ve had over the last few months (years?), today I lucked out and was gifted a few minutes to catch up on life with someone I genuinely find interesting and feel heard by.

    We ruminated about what was new in our lives and traded ideological cliff notes. At one point, we broached the subject of the beauty of simplicity in life.

    Readers of my free, near daily blog and listeners of my podcast know that for years, I’ve been partially ascribing the decay of Western civilization, led by the political left, to our belief that overanalyzing and overthinking the excruciating minutiae of “problems”—whether they be day-to-day issues, political, social or otherwise— can be effective.

    Instead, I’ve argued, our obsession of identifying “intellectual solutions” has thrown the engine of evolution into reverse. Like the Titanic, we don’t just come to a dead stop and start regressing as a society in a way that’s so obvious that it’s easy to recognize. Rather, progress slowly erodes, then civilization reaches an evolutionary standstill, and only then do we start to slowly regress—tearing down the principles, values, and educational foundations of society little by little.

    In 2024, we are a nation of people whose evolutionary biology stands at stark odds with the world of abundance that surrounds us. What would Cro-Magnon man think of problems like choosing between a Diet Coke and Coke Zero at a car dealership vending machine while trying to determine whether to buy a Chevy Suburban or a Cadillac Escalade? Or which filter to use when taking your 21st selfie of your dog for the day — and then whether you should post it on Facebook, Snapchat, Instagram or all three?

    These are slightly different than the nuanced issues we had to worry about thousands of years ago and, therefore, evolved equipped to deal with.

    It is this widening gap between our age-old hardwiring and modern-day societal expectations, led by sociological and cultural cornerstones like Jerry Springer, Brazilian butt-lifts and The Golden Bachelor, that has caused us to lose sight of what living in a calm state or having a satisfied mind means.

    For Cro-Magnon man, calm was food that night, a warm fire and not dying. End of list.

    Today, calm is something we desperately tell ourselves we feel when we reach a certain number of social media followers, despite never snapping out of the anxious and panicked state we are in. Calm comes in 1.7 second increments, when a dopamine hit from a bite of a Cheesy Gordita Crunch™ and a sip of a Mountain Dew Baja Blast™ futilely attempts to register in any way on our biologically hijacked rewards system, only to have the same success of that of an infant who has yet to take their first steps trying to scale Everest.

    And our modern day inability to find calm and satisfaction is what drives people (myself included) to moments of feeling like they aren’t good enough, aren’t doing enough, aren’t getting what they are entitled to and aren’t being recognized or making a difference.

    As a result, many people constantly living in a panicked state spend their days looking for the thing they think is going to “fix” them and bring them a feeling of content, despite the harsh reality that real equanimity can only come from within. Rather than being introspective, and courageously looking deeply into oneself, people push themselves toward career goals, relationship goals, material things and the like. They keep up with the Joneses. They develop addictions. They buy sh*t on Amazon.

    Thoughts of “fixing” become fixations, and fixations become patterns—patterns which many people continue stuck in for the rest of their lives, regardless of whether they achieve the things they set out for in the first place.

    Similarly, many people fall into the trap of trying to “solve” not just their own problems, but all of the world’s problems. Others become determined to figure out the meaning of life as a whole, striving to comprehend the entire compendium of all human knowledge with very real-sounding aspirations of fixing the world — which are ironically just layered over compensating for their own unprocessed insecurities.

    And why not? It’s something we’re told as a kid: you can change the world.

    🔥 40% OFF FOR LIFE: Using this coupon entitles you to 40% off an annual subscription to Fringe Finance for as long as you wish to remain a subscriber.

    I’m not saying that an individual effort can’t alter the course of history, but I am saying it has given people a false sense of their ability to control the world around them.

    I quote the legendary George Carlin, talking about “saving the planet”:

    We’re so self-important. Everybody’s going to save something now. Save the trees, save the bees, save the whales, save those snails. And the greatest arrogance of all: save the planet.

    Save the planet? We don’t even know how to take care of ourselves yet. I’m tired of this sh*t. I’m tired of f*cking Earth Day. I’m tired of these self-righteous environmentalists, these white, bourgeois liberals who think the only thing wrong with this country is that there aren’t enough bicycle paths.

    Besides, environmentalists don’t give a sh*t about the planet. You know what they’re interested in? A clean place to live. Their own habitat. They’re worried that some day in the future they might be personally inconvenienced. Narrow, unenlightened self-interest doesn’t impress me.

    The planet has been through a lot worse than us. Been through earthquakes, volcanoes, plate tectonics, continental drift, solar flares, sun spots, magnetic storms, the magnetic reversal of the poles … hundreds of thousands of years of bombardment by comets and asteroids and meteors, worldwide floods, tidal waves, worldwide fires, erosion, cosmic rays, recurring ice ages … And we think some plastic bags and some aluminum cans are going to make a difference?

    The planet isn’t going anywhere. We are! We’re going away. Pack your sh*t, folks. We’re going away. And we won’t leave much of a trace, either. Maybe a little Styrofoam.

    The planet will be here and we’ll be long gone. Just another failed mutation. Just another closed-end biological mistake. An evolutionary cul-de-sac. The planet will shake us off like a bad case of fleas. The planet will be here for a long, long, long time after we’re gone, and it will heal itself, it will cleanse itself, ’cause that’s what it does. It’s a self-correcting system. The air and the water will recover, the earth will be renewed.

    And if it’s true that plastic is not degradable, well, the planet will simply incorporate plastic into a new paradigm: the earth plus plastic. The earth doesn’t share our prejudice toward plastic. Plastic came out of the earth. The earth probably sees plastic as just another one of its children.

    Could be the only reason the earth allowed us to be spawned from it in the first place. It wanted plastic for itself. Didn’t know how to make it. Needed us. Could be the answer to our age-old egocentric philosophical question, “Why are we here?”

    Plastic, asshole.

    The key point is: we aren’t in control, no matter how much we would like to be.

    And when people fail to recognize that surrendering control is truly the path towards peace of mind, they substitute it with various stages of pseudo-intellectual faux-academic white noise in the form of focusing on an obscure topic, subdividing it into the smallest possible parts where it retains properties of the idea, then analyzing it further into sub-subatomic particles of human thought.

    In other words, they overthink sh*t. They spend 470 pound-feet of brain torque for a problem that could be solved by a distracted 11 year old playing Xbox in the next room, riffing off the top of his head and carelessly yelling out ideas like his mom just called him for dinner and he’s yelling back “one more minute!”

    People who can’t surrender control redline that engine and arrive at their own “solutions” that not only fail to adhere to the guardrails of logic but often times wind up as a vortex of reason and the polar opposite of common sense.

    How else would a smart and highly evolved civilization arrive at “solutions” like segregated college campuses to fight racism, taking on more debt to pay off our national debt, taxing unrealized gains, setting up injection sites to end drug use and letting criminals out on cashless bond while defunding the police to make us safer?

    These social non sequiturs are the result of what our idea of an “intellectual” is now.

    In days past, thought leaders had simple solutions to even the most complex problems that have been irrefutably time-tested, like when Einstein figured out that e=mc². No one challenged that solution as being too simple because it’s just 5 characters long and no one has “fixed” it further because it just works.

    Even philosophy had an elegant simplicity about it, which is why many people now looking to find a state of calm wind up going back and reading Buddhist texts, stoicism, or transcendentalists. Philosophers like Marcus Aurelius, Thích Nhất Hạnh, Emerson and Thoreau are proof you could think deeply and arrive at simple, powerful, yet humble and understated observations.

    “Life is available only in the present moment.” – Thích Nhất Hạnh

    But today, accolades are distributed not based on the merits of ideas regardless of how much anthropological jargon is used, but based on the ideas that are the most complicated and esoteric sounding, regardless of how effective and reasonable they are.

    In fact, for all the lotus tattoos and yoga retreats, it appears to me that mindfulness and simplicity is often cast aside by many modern day “intellectuals” who incorrectly believe there are no simple or easy solutions to complex problems and that people who think otherwise are simply unenlightened, undereducated bumpkins.

    During the course of our conversation today, my friend also asked me about religion. It took me a second to try and put into words why I have a belief in a power greater than myself — but eventually, the answer arrived: it creates a circuitous loop of logic in my mind that offers me permission to myself to not worry about things that are out of my control. From there, that allows me to live in a simpler, more mindful, and calm manner than I otherwise would.

    A week or two ago, I wrote an article examining the flawed logic, general uselessness, and cowardice of today’s activists, regardless of cause.

    When I watch a couple of teenagers deface a 200-year-old priceless work of art, when I see groups like “Queers for Hamas,” or when I see protesters having visible issues controlling their rage as they scream wildly into the open air about whatever their particular grievances are, I don’t see people that are calm and satisfied. I see people who are genuinely scared and suffering in their lives, only to have turned to the school of over-intellectualization and panic for an “answer” that will very likely make whatever their issue is worse instead of better.

    “Activism is a way for useless people to feel important, even if the consequences of their activism are counterproductive for those they claim to be helping. and damaging to the fabric of society as a whole.” — Thomas Sowell

    For these people, the school of appreciating every day just because we’re alive and breathing simply doesn’t exist. They are held prisoner and tortured by an insatiable, unexplainable dissatisfaction that they can’t put their finger on. For them, there is no stopping and giving thanks — there is only an irrational, synthetically engineered baseline feeling of whatever oppression is trendy that week that feeds off of their insecurities and anxieties like a malnourished tapeworm.

    Which brings us to the present day political sphere, where Donald Trump leads Joe Biden in polls heading into the summer before the election.

    The problem now for many “intellectuals” on the left side of the political aisle is they have over-analyzed themselves into a collective cult of both sociological regression and decadence that is so obvious that many people who would otherwise be in the center of the aisle can’t help but notice. Then, they’ve congratulated themselves for it, given each other awards and convinced themselves they’re geniuses.

    For example, Paul Krugman actually thinks this is funny:

    I wouldn’t worry about the “dibs” on that one Paul. I’m not exactly sure it’s going to be first in line to be ripped off and used royalty free without attribution by a world famous comedian, if you know what I’m saying.

    I’ll level with the left. The Democratic Party is right about some things when it comes to Donald Trump: he can be an asshole, he’s said some chauvinistic sh*t over the years, he’s a cutthroat businessman, he’s a narcissist, and he lies.

    But herein lies the failure of finesse by the left. They don’t have the simplicity of mind to recognize that their targeted ends of keeping Trump out of office do not justify the far more egregious means that they employ.

    Now, many parts of the nation that simply saw an asshole, narcissist and liar a couple of years ago are now seeing an asshole, narcissist and liar who was all but framed for being a traitor, impeached twice for frivolous reasons, has been dragged through the mud by the media every single day that he’s been in the political sphere, and who now is facing 34 felony charges for a private contract that was entered into 10 years ago over an immaterial amount of money — at the same time crime across the country has been all but legalized by liberal district attorneys.

    New York DA Alvin Bragg has spent his career decriminalizing crimes but, in Trump’s case, has elevated a misdemeanor past the statute of limitations to 34 felony counts. Georgia DA Fani Willis has accused Trump of corruption while handing out taxpayer cash and high-prestige job titles to her boyfriend. The recent Trump trial was justified by our current president last week by saying that “nobody is above the law”, but the body of corruption and criminality contained on Hunter Biden’s laptop alone makes it clear that actually, there are some people who are very much above the law.

    It’s a page right out of the aforementioned overanalytical fixation pattern book.

    And while I’ve always thought the term “Trump Derangement Syndrome” was idiotic, the left isn’t doing themselves any favors. The hyperbolic term alludes to a level of cognitive distortion where all bearings and calibration of what is right and wrong fall by the wayside of an obsession to “fix” the problem of Donald Trump.

    Taking a criminal charge that would otherwise not have even been prosecuted and turning it into an legal circus act that could see the leading candidate for president theoretically serve prison time not only shows an unhealthy pattern of obsession with “fixing” the problem the left erroneously believes they have the solution to, it shows a complete and total lack of finesse and the mindfulness that could work well to revive the Democratic Party and its base.

    Like him or not, Donald Trump brings with him a host of simple policy solutions that aren’t overthought, at a point where we don’t have the luxury of any more time for intellectual masturbation or unnecessary complexity: close the border to stop illegal immigration! Put more police on the street and remove lenient DAs to tackle petty crime! Drill f*cking holes in the ground to bring oil prices down!

    The left wants to argue the fact that Trump is a caveman, with caveman ideologies. But the truth is they have “overthought” us so far off the path of reason, that the solutions our nation requires are really are that simple.

    So easy a caveman could do it.

    So I ask: If a person arguing that Donald Trump is unhinged is correct, but that person is five times more unhinged than Trump is, which of the two are going to look like they’re making the most sense when you step back, squint your eyes, and look for clarity in the political Magic Eye puzzle?

    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 sh*t wrong a lot. I mention it twice because it’s that important.

    Tyler Durden
    Mon, 06/03/2024 – 17:00

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