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Professor 'Kidnapped' By ICE Indicted For Assaulting Federal Officers Via The College Fix, The California State University professor whom the California Faculty Association claimed was “kidnapped” by Immigration and Customs Enforcement has officially been indicted by a grand jury for assaulting federal officers. In July, the CFA had alleged ICE tossed CSU Channel Islands professor Jonathan Caravello into an unmarked vehicle “without identifying themselves” or giving a reason for the arrest. The night before the incident, Caravello had told the City of Camarillo Council that he was “patrolling the city streets following armed masked thugs trying to kidnap my [undocumented] neighbors.” Caravello, who teaches math and philosophy and researches epistemology, rationality, and “transcendental arguments,” became involved with a protest against an ICE raid of the Glass House Farms marijuana facility. Despite complaints by the CFA and the university that Caravello was “peacefully” demonstrating, U.S. Attorney Bill Essayli said the professor was arrested for throwing a tear gas canister at officers. According to Fox News, after agents deployed tear gas to disperse a crowd that had begun throwing rocks at their vehicles, Caravello “ran up to one of the canisters and tried to kick it.” He missed, however, and then ran after it and hurled it at the agents. During his arrest, prosecutors said Caravello “continuously kicked his legs and refused to give agents his arms.” This past Wednesday, Caravello officially was indicted under 18 USC 111, (allegedly) “assaulting, resisting, or impeding certain officers or employees.” He was released on $15,000 bond and faces up to 20 years in prison. In a statement, CSU Channel Islands said: “We are aware of the recent indictment involving Jonathan Caravello. As this matter is currently before the courts, we will not be commenting on the details of the case. We respect the legal process and believe it is important to allow it to proceed without speculation. Our focus remains on our ongoing work and commitments to our students.” It added that Caravello “is still employed and currently teaching at our campus.” Tyler Durden Sat, 09/06/2025 - 19:50
Trump Shortlists Hassett, Warsh, And Waller As Top Picks For Fed Chair Authored by Aldgra Fredly via The Epoch Times, President Donald Trump confirmed on Sept. 5 his top three candidates to succeed Federal Reserve Chair Jerome Powell when his term ends in May next year. Speaking to reporters, Trump said he is considering former Fed board member Kevin Warsh, current Fed board member Christopher Waller, and National Economic Council Director Kevin Hassett for the role. “You could say those are the top three,” the president told reporters in the Oval Office. Trump added that he had initially considered Treasury Secretary Scott Bessent as a fourth finalist, but Bessent said he preferred to remain in his current role. “I had him as a fourth,” he said of Bessent. “He told me ‘I’m not leaving.’” Bessent, who is overseeing the search for Powell’s successor, said at the press conference that he was not interested in the job. Trump has signaled he wants to appoint someone who is more inclined to lower interest rates, a point on which he has clashed with Powell. The Trump administration has been at loggerheads with the Fed over interest rate cuts. Trump wanted the Fed to lower interest rates to bring down borrowing costs and spur growth, but the central bank has kept its benchmark policy rate unchanged at 4.25 to 4.50 percent for five consecutive meetings. Powell has argued that the Fed should wait for more clarity on the economy’s trend before moving to cut rates, citing the impact of the administration’s policy changes. Bessent, on Aug. 12, urged the central bank to slash interest rates by half a percentage point at its September policy meeting of the Federal Open Market Committee (FOMC), and follow up with a series of reductions to bring borrowing costs down by at least 150 basis points. The push for lower rates comes as inflation appears substantially contained. The headline Consumer Price Index rose 2.7 percent in July, in line with expectations, while core inflation ticked up to 3.1 percent. Waller has supported lowering interest rates. The Fed governor said in April that he would favor cutting rates “sooner, and to a greater extent than I had previously thought.” “With a rapidly slowing economy, even if inflation is running well above 2 percent, I expect the risk of recession would outweigh the risk of escalating inflation, especially if the effects of tariffs in raising inflation are expected to be short lived,” Waller said in his speech. Hassett had agreed with Trump that the Fed has kept rates inappropriately high, while Warsh had previously called for a “regime change in the conduct of policy” at the central bank. Tyler Durden Sat, 09/06/2025 - 18:40
High Rollers & Algorithms: Meet The Dudes Cashing In On AI Gambling Bots Long before Las Vegas emerged from the Nevada desert, gambling has ranked among America's most enduring pastimes - and in the age of artificial intelligence, it stands poised for a technological transformation. A new crop of tech entrepreneurs is racing to develop the world's first AI-powered gambling agents designed to help sports bettors generate substantial returns. Take Szeder, founder of MonsterBet, is at the forefront with MonsterGPT, launched in early 2025. The tool uses web scrapers and retrieval-augmented generation (RAG) to analyze real-time data and select bets on professional sports. “Some users, myself included, are hitting winners 56% to 60% of the time,” Szeder, a computer science graduate, told WIRED. Access runs $77 a month. Massachusetts-based Rithmm offers its “AI-powered sports intelligence” for $30 monthly, while JuiceReel provides a free basic app, according to WIRED. Beyond traditional sports, Tom Fleetham, formerly of blockchain firm Zilliqa, built an AI named Ava for horse race predictions. “Her analysis was sharp,” he told the magazine, though placing bets was a hurdle. The sports betting industry has skyrocketed since the Supreme Court overturned the federal betting ban in 2018, with mobile platforms like DraftKings and FanDuel fueling a multibillion-dollar market. Analysts project revenues could hit $14 billion by 2028. In 2023, ESPN partnered with PENN Entertainment to launch ESPN BET in 16 states. The $1.5 billion, 10-year deal, plus $500 million in stock warrants, included a mobile app, website, and retail locations, integrating odds across ESPN’s platforms. Yet, the industry’s growth comes with warnings. Critics argue that AI-driven algorithms and aggressive marketing could exacerbate addiction and financial strain, pressing regulators and operators to prioritize social responsibility. States such as New York (which never met an industry they didn’t want to regulate), introduced rules last year aimed at shielding residents from potential risks associated with online gambling. Under existing regulations, all gambling and sports betting advertisements were required to display problem gambling warnings and provide hotline numbers for individuals experiencing gambling addiction. The new law expands these requirements, according to the Times Union, specifying that mobile sports betting platforms must comply with the same regulatory standards governing other gambling establishments and venues. "I want New Yorkers to be able to safely enjoy the activities they love while proceeding with caution when necessary,” New York Kathy Hochul said at the time. "New Yorkers will have easier access to the safety resources they need to better protect themselves from the grips of addiction." Tyler Durden Sat, 09/06/2025 - 18:05
More Than 1,900 Arrests Made In DC Since Federal Takeover Of Policing Authored by Savannah Hulsey Pointer via The Epoch Times, The Washington D.C. Metropolitan Police Department and federal partners have conducted more than 1,900 arrests since President Donald Trump federalized policing in the nation’s capital. FBI Director Kash Patel announced on Sept. 5 that, in addition to the total arrests, in just the days of Sept. 4–5, there were 26 arrests involving FBI personnel, five gun recoveries, and four drug seizures. Trump federalized the D.C. Metropolitan Police Department on Aug. 11, ordering about 800 National Guard troops to assist with law enforcement. “I’m announcing a historic action to rescue our nation’s capital from crime, bloodshed, bedlam, and squalor, and worse,“ Trump said at a White House press briefing at the time. “This is Liberation Day in D.C., and we’re going to take our capital back.” Attorney General Pam Bondi also lauded the federal cooperation by law enforcement, saying Department of Justice (DOJ) statistics show 73 total arrests for Sept. 4 alone. Bondi also said that since the federalization of policing in Washington, there have been 200 illegal guns taken off the streets. The same day, Patel also confirmed, in a post on X, the arrests of two suspects believed to have been involved in the murder of Capitol Hill intern Eric Tarpinian-Jachym. Tarpinian-Jachym, 21, an intern for Rep. Ron Estes (R-Kan.) and a University of Massachusetts student, was shot and killed on June 30. At the time, police believed he was an innocent bystander in the shooting, which injured two others. Bondi said in a Sept. 5 post on X that if convicted, the two suspects will face “severe justice,” and that she hopes it provides “some measure of solace to his family.” Patel thanked members of the Metropolitan Police Department and said, “We are delivering on President Trump’s promise to make DC safe again.” The National Guard presence in Washington has surged to nearly 2,300 troops, and the Pentagon mobilized another 1,700 National Guard members across 19 states to bolster federal immigration enforcement. A Joint Task Force–D.C spokesperson told The Epoch Times in an emailed statement on Aug. 24 that troops had arrived in Washington from West Virginia, South Carolina, Ohio, Mississippi, Louisiana, and Tennessee for a total of 2,270 National Guard members. Trump has voiced an interest in sending National Guard troops to other major cities, including New York and Chicago, to enforce a similar crackdown on crime in major metropolitan areas. Meanwhile, U.S. Attorney Jeanine Pirro announced the largest seizure of fentanyl and meth precursors in U.S. history, at a Sept. 3 news conference in Houston. Pirro spoke to reporters while standing in front of 1,300 barrels of chemicals, and asked those in attendance to “imagine bodies where those barrels are,” saying the work of law enforcement would save lives by keeping drugs such as fentanyl off the streets. Pirro said it would take 24 18-wheelers to transport the seized chemicals to a storage facility. Tyler Durden Sat, 09/06/2025 - 17:30
"Summer COVID Wave" Prompts Panic In California; Masks Recommended At least one official in California has recommended that residents wear masks indoors due to an increase in COVID-19 in recent days. Wastewater data released by the Centers for Disease Control and Prevention on Thursday show that California is seeing “very high” levels of the virus, while all states on the West Coast are either at “high” or “very high” levels. As Jack Phillips reports for The Epoch Times, the top health official for Yolo County, located outside Sacramento, said in a statement last week that residents are advised to wear masks indoors. No mandate was issued. “California is experiencing a summer COVID wave,” Aimee Sisson, the Yolo County health officer, said in the statement. “Based on current wastewater levels of the virus that causes COVID-19, I recommend that everybody in West Sacramento wear a mask when they are around others in indoor public spaces.” “I also recommend that people in the rest of Yolo County wear masks when they are around others indoors if they are 65 or older, have a weakened immune system, have an underlying medical condition that puts them at a greater risk of severe COVID-19, or spend time around people who fall into these categories.” Sisson’s office also said in a news release issued by the county that “wearing a high-quality mask such as an N95, KN95, or KF94 that fits well continues to provide strong protection” before touting vaccines for the virus. The San Francisco Department of Public Health told the Los Angeles Times, in an article published Sept. 3 that suggests multiple California officials have recommended masking, that it is also recommending people “consider wearing a well-fitted mask in crowded indoor spaces, including when traveling, and to stay at home if they feel sick.” Multiple requests from The Epoch Times to the city health department have not been returned as of Friday. In Canada, New Brunswick’s Horizon Health Network told The Epoch Times this week that it would mandate masks for certain clinical areas due to a rise in respiratory illnesses such as COVID-19. Several weeks ago, the government of Honduras announced it had reinstated a nationwide mask mandate in health care settings due to a rise in respiratory viruses. Last year, multiple California counties implemented mandatory mask requirements in health care settings that lasted from November 2024 until the spring of this year, including counties in the San Francisco Bay Area. Some of the countywide mandates were meant only for employees, while one county required all visitors and patients to wear a mask. An Epoch Times review suggests that no counties in the United States have recently issued mask mandates or are planning to issue mask mandates for the coming fall or winter months. The Epoch Times contacted the California Department of Public Health for comment. An update on the agency’s website posted in late June recommends that certain people wear masks or an N95 respirator variant, particularly if they suspect they were exposed to an infection or “are at a high-risk of becoming severely ill.” It comes as California, Oregon, Washington state, and Hawaii formed a “West Coast Health Alliance” in response to decisions made by U.S. Secretary of Health Robert F. Kennedy Jr., including his shakeup of the CDC’s advisory panel. Tyler Durden Sat, 09/06/2025 - 16:55
Trump Says Justice Department Has Done Its Job On Epstein Case Authored by Jack Phillips via The Epoch Times, President Donald Trump said in a lengthy social media post that the Department of Justice (DOJ) has “done its job” on releasing information connected to deceased convicted sex trafficker Jeffrey Epstein. “The now dying (after the DOJ gave thousands of pages of documents in full compliance with a very comprehensive and exacting Subpoena from Congress!) Epstein case was only brought back to life” in recent days for political purposes, not for the victims, Trump wrote in a post on Truth Social on Sept. 5. Trump added that the Justice Department “has done its job,“ and ”they have given everything requested of them“ in the Epstein case, adding that it’s time for Democrats who are making Epstein-related demands to ”end“ what he called the ”Epstein hoax.” In the post, he also said that the chatter around Epstein is designed to serve as a “hoax” to gain political points and an attempt “to deflect and distract from the great success of a Republican President.” Democrats and some Republicans in the House have called for disclosures related to the case, about six years after Epstein was charged with sex trafficking counts before he was found dead in a Manhattan jail cell in August 2019. This week, lawmakers hosted a news conference with women who said they were victims of Epstein to call for more transparency. On Tuesday, the House Oversight Committee, under Chair James Comer (R-Ky.), released a batch of Epstein-related files that it said it obtained from the DOJ in response to a subpoena for those records. The records encompass 33,295 pages of material, which were uploaded onto Dropbox and Google Drive. Speaking to reporters in the Capitol on Tuesday, House Speaker Mike Johnson (R-La.) said that the document disclosure “is the beginning and not the end” and that “we want to bring justice to every single person who is involved in the Epstein evils and the cover up thereof, but we also want to be equally certain we protect the innocent victims.” The materials include videos that were captured outside of Epstein’s jail cell, footage from his Florida home, audio files between his former associate Ghislaine Maxwell and Deputy Attorney General Todd Blanche over the summer, and other documents. Transcripts of the interview between Maxwell and Blanche were released last month. Maxwell is currently serving out a 20-year prison term after she was convicted on charges in 2021 of conspiring with Epstein to sexually abuse minors over the course of a decade. In the news conference, the women who said they were Epstein’s victims called on members of Congress to pass a bill requiring the release of more documents related to the case. “Survivors need protection, resources, and legal support. If this Congress is serious about justice, then let this moment also affirm your commitment to provide victims with the legal aid they need,” Anouska De Georgiou, a self-described Epstein victim, said at the press event earlier this week that had been organized by Reps. Thomas Massie (R-Ky.) and Ro Khanna (D-Calif.). Tyler Durden Sat, 09/06/2025 - 16:20
Hegseth: The 'Department Of War' Will "Fight Decisively, Not Endless Conflicts" Authored by Steve Watson via Modernity.news, President Trump signed an Executive Order Friday officially changing name of the Department of Defense back to the Department of War. The War Department previously existed for over a century and a half, from 1789 to 1947—and now thanks to Trump it’s back. In the Oval Office, White House Staff Secretary Will Scharf explained the significance of the change, noting “From 1789 until 1947, our nation won some of its greatest military victories under the direction of a Secretary of War, operating within a Department of War.” WATCH: President Trump signs an Executive Order officially renaming the Department of Defense back to the Department of War. The War Department existed for 158 years, from 1789 to 1947—and now it’s back. In the Oval Office, White House Staff Secretary Will Scharf explained the… pic.twitter.com/xgjw24Gtw9 September 5, 2025 “Today, with this executive order, you will authorize the current Secretary of Defense, in the current Department of Defense, to once again embrace this great lineage,” Scharf added. In signing the order, Trump remarked “I think that’s a big one!” Workers were later seen removing “Defense” lettering to be replaced with “War”: 🚨 JUST IN: The Departnent of War rebrand is in FULL FORCE. Workers have been spotted making the changes official. pic.twitter.com/SAoOgUT7Ul September 5, 2025 Secretary of Defense, (Now War) Pete Hegseth commented that the name change is about restoring a “warrior” mentality. Hegseth added that it concerns “Restoring victory and clarity as an end state,” and “Restoring intentionality to the use of force.” NEW: Secretary of War Pete Hegseth says the name change back to the Department of War is about restoring the WARRIOR ETHOS. “Restoring victory and clarity as an end state.” “Restoring intentionality to the use of force.” “So at your direction, Mr. President, the War Department… pic.twitter.com/Yp1V8lTPc3 September 5, 2025 “So at your direction, Mr. President, the War Department will fight decisively, not endless conflicts,” Hegseth urged, adding “We’re going to go on offense not just on defense. Maximum lethality. Not tepid legality.” “Violent effect, not politically correct. We’re going to raise up warriors, not just defenders,” Hegseth further remarked. “America first, peace through strength, brought to you by the War Department… We’re back,” he concluded. * * * Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews. Tyler Durden Sat, 09/06/2025 - 15:10
Eyebrow-Raising Details Emerge From FBI Raid On John Bolton's Home Federal Bureau of Investigation agents seized three computers, two iPhones, and multiple documents from the Bethesda, Maryland, home of former Trump national security advisor John Bolton on August 22, according to a report released Friday. The raid is part of an ongoing investigation into whether the infamous war hawk mishandled classified documents, including allegations he emailed sensitive files to family members via a private server. The New York Post reported new details about the raid: In addition to the high-tech hardware, agents confiscated two USB drives, a hard drive, four boxes of “printed daily activities,” “typed documents in folders labeled ‘Trump I – IV'” and a white binder labeled “statements and reflections to allied strikes,” according to an inventory made public Thursday. The warrant also revealed that Bolton is being looked at for allegedly violating two sections of the Espionage Act of 1917 forbidding unauthorized possession or removal of national defense information, and another law preventing hoarding of classified files. The investigation, which intensified under the Biden administration, also centers on personal emails allegedly obtained by a foreign government’s spy agency, according to people familiar with the matter cited by the New York Times. The emails reportedly contained classified information Bolton sent to close associates while gathering material for his 2020 memoir, “The Room Where It Happened.” The FBI’s search of Bolton’s home aimed to determine if he possessed materials that could verify the authenticity of the compromised emails. During the Trump administration, the Justice Department initiated a criminal probe into whether Bolton mishandled classified material in his book. The administration also sued to delay the memoir’s publication. Although the book was released, a federal judge, Royce Lamberth, concluded that “Defendant Bolton likely jeopardized national security by disclosing classified information in violation of his nondisclosure agreement obligations.” However, Judge Lamberth declined to block distribution, noting, “the horse is already out of the barn,” as excerpts had been published and 200,000 copies had shipped. The Times sources indicated that the information allegedly obtained by the foreign spy agency was not included in Bolton’s book. The investigation into Bolton reportedly stalled under Biden for reasons that remain unclear. An FBI agent, speaking to the Post, criticized the pause, telling the newspaper, “The [Biden administration] had probable cause to know that he had taken material that was detrimental to the national security of the United States, and they made no effort to retrieve it.” The agent added, “That was a friendly administration to [Bolton]. They kept bashing [Trump] the entire time for ‘weaponizing law enforcement,’ and they - by politically stopping a righteous investigation - are the ones who weaponized law enforcement.” Bolton, who has not been charged or arrested, denies any wrongdoing. If convicted on all potential charges, he could face up to 25 years in prison. Tyler Durden Sat, 09/06/2025 - 14:35
Judge Orders Trump Admin To Release Billions In Frozen Foreign Aid Funding Authored by Jackson Richman via The Epoch Times (emphasis ours), A federal judge ruled that the Trump administration cannot withhold billions of dollars in foreign assistance approved by Congress, including aid that the White House recently said it would not spend. President Donald Trump holds a Cabinet meeting with members of his administration in the Cabinet Room of the White House on Aug. 26, 2025. Chip Somodevilla/Getty Images The Trump administration must release $11.5 billion in foreign aid that is set to expire at the end of the month, said U.S. District Judge Amir Ali in a Sept. 3 decision. “There is not a plausible interpretation of the statutes that would justify the billions of dollars they plan to withhold,” Ali wrote in his ruling. “To be clear, no one disputes that Defendants have significant discretion in how to spend the funds at issue, and the Court is not directing Defendants to make payments to any particular recipients. But Defendants do not have any discretion as to whether to spend the funds.” The Trump administration last week requested that Congress rescind $4.9 billion in foreign aid. The $11.5 billion figure includes the $4.9 billion. In accordance with the Impoundment Control Act, a rescission is when the White House requests Congress to reverse government funding that has been appropriated by Congress. Typically, it must be approved within 45 days of the request being sent to Congress, or else the money must be spent. Given that this request was made within 45 days of the end of the fiscal year on Sept. 30, the cancellation could take effect without Congress approving it. This maneuver is known as a pocket rescission. Ali wrote that the funding is to be spent since Congress appropriated it. “It is undisputed the relevant appropriations acts have been valid law from the time they were enacted to today. For almost all that period, Defendants did not even dispute that the laws were mandatory and required them to spend the funds,” he wrote. “The President never asked Congress to rescind the funds at issue even though he successfully sought rescission of analogous funds in May 2025.” The Trump administration filed a notice of appeal on Sept. 4. “President Trump has the executive authority to ensure that all foreign aid is accountable to taxpayers and aligns with the America First priorities people voted for,” White House spokesperson Anna Kelly said in a statement. Republicans and Democrats have criticized the pocket rescission. “With the Trump Administration’s attempt of the so-called ’pocket rescission,' it is clear that Republicans are prioritizing chaos over governing, partisanship over partnership, and their own power over the American people,” Senate Minority Leader Chuck Schumer (D-N.Y.) said in a Sept. 2 letter. “Republicans should not accept Russ Vought’s brazen attempt to usurp their own power,” Senate Appropriations Committee Vice Chair Patty Murray (D-Wash.) said in an Aug. 29 statement, referring to the director of the Office of Management and Budget. “No president has a line item veto—and certainly not a retroactive line item veto.” Sen. Lisa Murkowski (R-Alaska) called the pocket rescission “unlawful.” “Congress alone bears the constitutional responsibility for funding our government, and any effort to claw back resources outside of the appropriations process undermines that responsibility,” she wrote on X. The Associated Press contributed to this report. Tyler Durden Sat, 09/06/2025 - 14:00
Trump Warns Any Venezuelan Plane Threatening US Ships Will Be Shot Down On Friday, for the second time in just two days, a Venezuelan F-16 jet flew near a US warship in the southern Caribbean. At least eight American navel vessels have been deployed off the Latin American country which possesses the world's largest proven crude oil reserves. President Trump the same day warned that if Venezuelan jets fly over US naval ships and "put us in a dangerous position, they'll be shot down." Wikimedia Commons CBS late Friday cited Pentagon officials who said a Venezuelan plane flew over the US destroyer "Jason Dunham" for the second time. Some observers have begun to question the circumstances behind the prior US strike on a "drug-carrying vessel from Venezuela" operated allegedly by a drug trafficking gang, which killed all eleven people on board. Assuming they weren't military, it could be classified as an extrajudicial killing in international waters, with no warning issued or attempt at intercept. The Commander-in-Chief has put US forces deployed there on a war footing, it appears: When asked by reporters in the Oval Office on Friday what would happen if Venezuelan jets flew over US vessels again, Trump said Venezuela would be in "trouble". Trump told his general, standing beside him, that he could do anything he wanted if the situation escalated. Venezuelan President Nicolás Maduro has responded by rejecting the state-linked narcotrafficking allegations, and explained that current problems and differences between the nations do not justify a "military conflict". Maduro continued, "Venezuela has always been willing to talk, to engage in dialogue, but we demand respect." Watch: Trump issues his new warning: NOW - Trump instructs General Caine to shoot down Venezuelan jets if they approach U.S. naval ships dangerously. pic.twitter.com/g0gDfVHkB2 September 5, 2025 Shooting down a Venezuelan jet would constitute an act of war, but Trump would likely not immediately go beyond that - unless there was further retaliation from Caracas. However, there remains the likely possibility that Trump could be pursuing a regime change policy, in continuation of some statements from his first term. On this, CNN writes: Asked by a reporter on Friday if he would like to see regime change in Venezuela, Trump said, "We’re not talking about that." He went to say, "But we are talking about the fact that [Venezuela] had an election, which was a very strange election, to put it mildly." CNN further claims, "President Donald Trump is weighing a multitude of options for carrying out military strikes against drug cartels operating in Venezuela, including potentially hitting targets inside the country as part of a broader strategy aimed at weakening leader Nicolas Maduro, according to multiple sources briefed on the administration’s plans." Like the other many conflicts and unchecked adventurism in foreign lands, Congress appears to be missing in action, with the exceptions of Kentucky's Rand Paul and Thomas Massie. Tyler Durden Sat, 09/06/2025 - 13:25
Damning New Evidence Emerges In Biden Autopen Scandal Authored by Matt Margolis via PJ Media, Fresh revelations about Joe Biden's autopen scandal paint a picture so damning that even his most loyal defenders should be squirming in their seats. Internal emails obtained by the New York Post show a White House in complete disarray, with staff frantically scrambling to figure out whether Biden actually knew what documents were being signed in his name. Manuel Balce Ceneta The timeline alone should make every American's blood boil. On Jan. 11, Biden allegedly gave verbal approval for commuting the sentences of crack cocaine offenders. But those documents weren't signed until Jan. 17, and only after a series of panicked late-night emails between White House staff trying to establish some semblance of proper authorization. Staff Secretary Stef Feldman, clearly the only adult in the room, demanded verification of Biden's approval before allowing the autopen to do its work. At 9:16 p.m. on Jan. 16, she wrote to Biden's aides, "I'll need an [email] from [Deputy Assistant to the President Rosa Po] confirming the president's sign-off on the specific documents when they are finalized." But here's where it gets really ugly. Deputy White House Counsel Tyeesha Dixon forwarded concerns to Chief of Staff Michael Posada, asking, "Michael, any thoughts on how to address this?" Most tellingly, Dixon noted in her email that "the president did not review the warrants." The expectation that autopen would handle Biden’s pardons and commutations says everything about how his White House operated and raises legitimate questions about who was really running the country. Staffers routinely mechanically applied Biden's signature to legal documents, and now we know his own counsel admitted he never actually reviewed what he was supposedly signing. Among those benefiting from this constitutional chaos was Russell McIntosh, a 51-year-old involved in the 1999 murder of a woman and her two-year-old child in North Carolina. This is the caliber of individual Biden's team was cutting loose while the president remained blissfully unaware of the specifics. The Justice Department wasn't faring any better. Here’s more from the Post: The emails also indicate Justice Department confusion on how to carry out Biden’s orders — with the department not receiving names of the roughly 2,500 affected inmates from the White House until after the public announcement and then quibbling with the content of the files. DOJ veterans expressed concerns about the fact that some of the commutation recipients were violent criminals — and also raised questions about whether the wording of one of three of Biden’s clemency warrants rendered the grants null and void. That document said offenders were having their punishments reduced for “offenses described to the Department of Justice,” without any specifics. DOJ official Elysa Wan wrote to Dixon, English and White House associate counsel DeAnna Evans on the evening of Jan. 17: “We do not know how to interpret ‘offenses described to the Department of Justice.’ Could you please clarify?” Then-Associate Deputy Attorney General Bradley Weinsheimer wrote to Dixon and Evans on Jan. 18 that he too was concerned about the vague wording of the clemency warrants impacting dozens of more serious cases. This wasn’t a fluke or a simple mistake. Biden’s team ran a shadow presidency, making major decisions while their boss stayed clueless, and in the process, they shredded any pretense of accountability. This was a full-blown constitutional crisis. Americans should be furious. This constitutional chaos evidence exposes the Biden White House as nothing more than a puppet show. While the mainstream media stays silent, PJ Media delivers the hard-hitting investigative journalism that holds corrupt politicians accountable. Join PJ Media VIP today to support our mission. Use promo code FIGHT for 60% off your membership. Get exclusive access to fearless reporting, ad-free browsing, and the truth they don’t want you to see. Support real journalism that puts America first! * * * Check this out. And sign up for our store's no-spam 'second channel' email here... Tyler Durden Sat, 09/06/2025 - 12:50
Shocking Video Shows Ukrainian Refugee Fatally Stabbed On Charlotte Train By Career Criminal A shocking new video obtained by local media outlet WBTV shows the moments before 23-year-old Iryna Zarutska was randomly stabbed on Charlotte's public transportation light rail. According to an affidavit obtained by WBTV on Aug. 28, Zarutska, a Ukrainian who fled the war-torn country, was stabbed in the neck on the Lynx Blue Line train at the East/West Boulevard station along Camden Road in the South End. She was pronounced dead from knife wounds at the scene. The murderer, who was later arrested and held without bond, was career criminal Decarlos Brown Jr., a 34-year-old diagnosed with schizophrenia. The video is absolutely disturbing. BREAKING: New video shows the moment the repeat offender Decarlos Brown Jr stabbed the 23-y-old Ukrainian war refugee Iryna Zarutska to death on a train in Charlotte, North Carolina Reopen the asylum homes. Too many violent crazies roam the streets 🇺🇸🇺🇦 pic.twitter.com/QPzG7cqwvZ September 6, 2025 North Carolina House Majority Leader Brenden Jones, a Republican representing Columbus and Robeson counties, responded on X, criticizing the Democrats' failed woke agenda for allowing violent criminals to roam the city streets... "The tragedy of Iryna Zarutska's death in Charlotte is the result of decades of Democrat DAs and Sheriffs putting their woke agendas above public safety," Rep. Jones said, adding, "Violent criminals commit crimes with impunity, while families live in fear." The tragedy of Iryna Zarutska’s death in Charlotte is the result of decades of Democrat DAs and Sheriffs putting their woke agendas above public safety. Violent criminals commit crimes with impunity, while families live in fear. #ncpol pic.twitter.com/QNIGSVP0HZ September 6, 2025 Zarutska's death raises alarm over the effectiveness of criminal justice reforms and highlights the Democratic Party's massive failures that have allowed violent criminals to walk the streets, creating a national public safety threat. If it's defund the police, no cash bail, woke judges, and continue down the list of failures that have sparked out-of-control violent crime across major cities nationwide, it's time the American people hold Democrats accountable for their deadly progressive experiments. Defunded police No cash bail DEI judges This is what all of that “progressive” garbage leads to👇🏼 pic.twitter.com/aOpSTRMrDh September 6, 2025 President Trump's move to restore law and order nationwide has been a countermeasure to clean up this epic mess left behind by the failures of progressive policies. It's time to demand accountability. Tyler Durden Sat, 09/06/2025 - 12:15
Fake Students Plague California Community Colleges, Displacing Real Enrollees Authored by Kimberley Hayek via The Epoch Times, California’s community colleges are grappling with a surge in fraudulent enrollments, with 1.2 million fake applicants last year accounting for nearly 30 percent of new students, blocking real students from classes and costing millions in stolen financial aid, according to college officials. The problem, exacerbated by the shift to online learning during the COVID-19 pandemic, affects at least 90 of the state’s 116 campuses, said Marvin Martinez, chancellor of the Rancho Santiago Community College District, and Jeannie Kim, president of Santiago Canyon College. Before the pandemic, most classes were in-person, making fraud more difficult, Martinez said. But with 80 percent of courses moving online, bots and fake students can enroll from anywhere, including other states or countries. “It’s happened on a massive scale,” Martinez told Epoch TV’s California Insider host Siyamak Khorrami. “What’s made this situation of fraudulent enrollment so different than anything that I’ve seen before in my 36 years in higher ed is that it’s happened in almost 80 percent now of the campuses.” At Santiago Canyon College, fall 2024 enrollment initially spiked 10 percent to 13 percent, Kim said, but faculty discovered many registrants were fraudulent. In one anthropology course, administrators raised the enrollment cap by 30 daily, only for bots to fill slots instantly, leaving just 12 to 15 genuine students. Faculty identified fakes through non-engagement, identical assignments, or invalid contact details, like phone numbers tied to businesses or defunct entities. Removing fraudulent enrollments cut the college’s headcount by 10,000 to 12,000 spots, with some bad actors enrolled in up to five classes each. The fallout is severe. Real students are denied access to required courses, delaying graduations, certificates, and transfers to four-year universities. “Counselors saw the crestfallen faces of students unable to get classes they needed to graduate,” Kim said. Among faculty, morale has gone down as classes shrink to single digits, making them cost-inefficient yet necessary for student progress. “Faculty teach because they love their discipline, but it’s devastating to see classes dwindle,” Kim added. Low-enrollment classes were allowed to run, doubling budgetary strain to prioritize student needs. Financially, colleges face significant losses. California funds community colleges based on enrollment, but removing fake students can cut revenue by up to 23 percent, Martinez said. “You can’t get paid for fake enrollments,” he noted. “It’s better to make that cut upfront than face audits later.” In 2024, scammers stole $8.4 million in federal aid and $2.7 million in state aid, with losses since 2021 exceeding $18 million, state reports show. The colleges reported 20 to 25 identity theft cases, requiring notifications to victims and reports to the U.S. Department of Education. Fraud motivations include exploiting Pell Grants, with “Pell runners” collecting up to $7,400 before vanishing, and harvesting personal data such as Social Security numbers for identity theft, Martinez said. Perpetrators, often international, use AI tools such as ChatGPT to mimic students, targeting no-prerequisite courses such as accounting or business. To combat the issue, colleges are deploying LightLeap.AI, an artificial intelligence platform from N2N Services, initially developed for course predictions but adapted for fraud detection. Santiago Canyon adopted it for under $100,000 after Kim discovered it at a conference, and it is now scaled to 80 campuses statewide at about $75,000 per institution. Processing nearly 3 million applications and flagging 360,000 suspected fraudsters, LightLeap.AI uses machine learning to analyze shared phone numbers, IP addresses, minimal application data, and suspicious course-taking patterns, achieving a 99 percent accuracy rate at Santiago Canyon. “One art faculty member was ecstatic, saying, ‘I have a clean roster. They’re all real,’” Kim recalled. LightLeap.AI’s triangulation method cross-references application data with student information systems and proprietary blacklist/whitelist databases, identifying patterns such as multiple applications from one IP address. Operating in three stages—application, registration, and financial aid—it catches twice as many scammers as manual methods, freeing 7,500 seats for real students at Santiago Canyon. Its network effect allows fraud detection at one college to flag bad actors across 83 campuses, with a 92.3 percent effectiveness rate at West Valley-Mission. The system adapts to evolving tactics by incorporating geolocation data and reducing false positives through continuous learning. Since its intersession rollout, it has been applied across spring, summer, and fall terms, with updates to counter fraudsters’ use of generative AI. Implementing LightLeap.AI presents challenges. “We need tech-savvy staff, but community colleges can’t compete with tech industry salaries,” Martinez said. Budgets, unchanged in 20 years, hinder hiring, and manual verification tools like ID.me are voluntary and inadequate. A proposed $10 application fee, discussed in 2025, aims to deter fraud but risks burdening vulnerable students such as the homeless or undocumented, who struggle with ID verification. Online education is essential for working adults, who now outnumber recent high school graduates enrolled at community colleges. “Adult students—parents with jobs and bills—rely on online classes,” Martinez said. To support this shift, he urged Sacramento to increase funding for technology and staffing. “If it doesn’t happen, we’re going to keep losing money,” he warned. A 2025 state audit is evaluating fraud trends and mitigation effectiveness to guide future funding. “We’re easy prey because bureaucracies react slowly,” Martinez said. Kim emphasized ethical duty: “We’re public servants with a moral obligation to protect taxpayer dollars.” California community colleges serve about 1.8 million students annually, offering low-cost pathways to degrees and jobs. Tyler Durden Sat, 09/06/2025 - 11:40
These Are The US States That Added The Most Billionaires Over The Last Decade The billionaire map of America looks very different today than it did a decade ago. New faces and shifting fortunes have reshaped where the country’s wealthiest residents call home, and some states have vaulted ahead in the billionaire rankings as Visual Capitalist's Pallavi Rao shows in the infographic below. The data for this map comes from two related Forbes sources. Their 2016 billionaire breakdown (which used net worth figures as of November, 2015), and their Real-Time Billionaires List, accessed July, 2025. Using both datasets, we mapped the net change in U.S. billionaires by state. Due to data limitations, this map does not count U.S. billionaires in Washington D.C. and overseas territories. The South is Gaining Billionaires, Fast While California leads by overall billionaire gains (+75), two southern states are in the top five. Rank State Code 2015 Billionaires 2025 Billionaires Change in Billionaires 1 California CA 124 199 75 2 Florida FL 44 117 73 3 New York NY 93 136 43 4 Texas TX 48 83 35 5 Illinois IL 17 30 13 6 Massachusetts MA 10 23 13 7 Pennsylvania PA 10 23 13 8 Georgia GA 9 21 12 9 Nevada NV 8 19 11 10 North Carolina NC 3 10 7 11 Arizona AZ 9 15 6 12 Utah UT 1 7 6 13 Virginia VA 5 11 6 14 Connecticut CT 12 17 5 15 Ohio OH 6 10 4 16 Washington WA 13 17 4 17 Colorado CO 10 13 3 18 Louisiana LA 1 4 3 19 South Carolina SC 1 4 3 20 Hawaii HI 1 3 2 21 Maryland MD 8 10 2 22 Mississippi MS 0 2 2 23 Missouri MO 6 8 2 24 Montana MT 4 6 2 25 Nebraska NE 2 4 2 26 Tennessee TN 10 12 2 27 Alabama AL 0 1 1 28 Arkansas AR 5 6 1 29 Kansas KS 2 3 1 30 New Hampshire NH 1 2 1 31 New Mexico NM 0 1 1 32 North Dakota ND 0 1 1 33 Oregon OR 2 3 1 34 Vermont VT 0 1 1 35 Maine ME 1 1 0 36 New Jersey NJ 8 7 -1 37 Oklahoma OK 5 4 -1 38 West Virginia WV 1 0 -1 39 Idaho ID 3 1 -2 40 Indiana IN 4 2 -2 41 Michigan MI 11 9 -2 42 Wisconsin WI 9 7 -2 43 Wyoming WY 9 7 -2 N/A Iowa IA 1 1 No change N/A Kentucky KY 1 1 No change N/A Minnesota MN 5 5 No change N/A Rhode Island RI 1 1 No change N/A South Dakota SD 1 1 No change N/A Alaska AK 0 0 No billionaires N/A Delaware DE 0 0 No billionaires N/A U.S. US 540 869 329 In fact, second-ranked Florida added 73 billionaires—more than doubling its roster to 117—thanks to the influx of hedge-fund titans, tech founders, and pandemic-era corporate relocations. Texas gained 35, cementing its draw as America’s energy capital and a swelling tech hub around Austin and Dallas. With no state income tax and a cost of living well below coastal peers, both states have become magnets for high-net-worth individuals fleeing higher-tax jurisdictions. Tech Hubs Keep Their Billionaire Edge, But is Growth Cooling? California remains the undisputed leader with 199 billionaires in 2025—up 75 from 2015—anchored by Silicon Valley fortunes from companies such as Apple, Google, and OpenAI. Yet the Golden State’s growth rate lags that of Florida and Texas, hinting at headwinds from rising costs and remote-friendly work patterns. New York added 43 new billionaires, driven largely by finance and media exits, but also saw some flight to lower-tax locales. Even with slowing momentum, these coastal giants still host 39% of all U.S. billionaires. Unexpected Wealth Hotspots in the Mountain West and Midwest Beyond the big four, several smaller states quietly punched above their weight. Nevada added 11 billionaires, boosted by Las Vegas real-estate windfalls and a growing tech presence around Reno. Utah’s count jumped six-fold on the back of booming software IPOs along the “Silicon Slopes.” Illinois and Massachusetts each gained 13 billionaires, underscoring the enduring wealth-creation power of Chicago’s trading dynasties and Boston’s life-science clusters. Conversely, traditional manufacturing states such as Michigan and Wisconsin slipped, each losing two members of the three-comma club. If you enjoyed today’s post, check out The Richest Billionaire in Every Country (That Has One) on Voronoi, the new app from Visual Capitalist. Tyler Durden Sat, 09/06/2025 - 11:05
Victor Hanson: The Greatest Democrat Fear? Authored by Victor Davis Hanson, President Donald Trump’s greatest achievement within six months was simply ending illegal immigration as we had once known it — without “comprehensive immigration reform” or any other rhetorical trickery. It remains difficult to find, much less deport, the 10 to 12 million illegal aliens who entered in the last four years. Those who helped break the law, by design or indifference, now believe it was moral to destroy federal immigration law but immoral to uphold it. And it is still unclear whether former President Joe Biden’s handlers deliberately sabotaged their own border for political and demographic purposes out of sheer orneriness or utter incompetence. Many of the left’s cherished totems — massive Green New Deal subsidies, the diversity/equity/inclusion industry, biological males competing in women’s sports, and the USAID revolving door — are either comatose or in their death throes. The historic drop-off in military recruitment reversed shortly after Trump took office. Republican voter registration is up, and Democratic registration is down. Abroad, Trump finds remarkable successes. For now, there are pauses in the fighting between India and Pakistan, Egypt and Somalia, Cambodia and Thailand, Rwanda and Congo, Serbia and Kosovo, and Armenia and Azerbaijan. Much credit is due to Trump for brokering ceasefires. Iran will not get a bomb in the next four years — as seemed likely when Biden left office. The Middle East’s current most grotesque terrorist cadres and states — Iran, Hezbollah, Hamas, and the Houthis — are far weaker than they were when Trump entered office in January. There is at least some engagement in envisioning the outlines of a ceasefire in Trump’s inherited Ukraine War. The rub is finding the degree of ordnance necessary to convince Putin that increasing Russia’s casualties to more than one million will endanger his own dictatorship sooner than destroy Ukraine. Breaking up the new three-billion-person China/India/Russia nexus hinges on ending the war. The economy is still strong. Gas prices are at historic lows. Increases in all types of energy production proceed full bore. Current GDP, inflation, unemployment, and the stock market — all at one time or another said to be in a crisis state — remain strong. Talk of an impending recession or hyperinflation is mostly muted. No one quite knows either the full effects of Trump’s tariffs — especially given the injunctions issued by left-wing district justices — or of the promised over $10 trillion in foreign investments. Much of Trump’s agenda will hinge on whether interest rates are lowered, Republicans survive the midterms, and the degree to which unelected left-wing lower-court justices can be stopped from hijacking the Constitution and de facto running the country. As for the Democratic opposition, there is no counter agenda, no shadow government responsible leadership, and no willingness to craft bipartisan legislation. Instead, the left’s strategy is that of the kamikaze: to destroy Trump at the cost of destroying the Democratic Party. Otherwise, Democrats seek to prove so obnoxious in demonizing Trump that they create such mass hysteria that the weary electorate figuratively lies down, closes its eyes, covers its ears, and screams nonstop, “Make them all go away!” Former foul-mouthed vice presidential candidate Tim Walz is now reduced to a ghoulish status. He recently boasted to an audience that rumors of Trump’s death — who survived two assassination attempts last summer — will thankfully one day prove true. The top of the failed ticket, Kamala Harris, wanders aimlessly without an office, constituency, audience, or ideas. To remain viable, she knows she must continue touring and speaking. But Harris accepts that the more anyone hears her word salads, the more they will remember her 2024 train wreck. Head of the Democratic Party, Ken Martin, now screams that Trump is a fascist. But by what standards does he judge? Did Trump try to take his rivals off state ballots? Does he advocate for destroying the filibuster, the Electoral College, and the 156-year-old nine-justice Supreme Court, or packing the Senate by admitting two new states? Are local, state, and federal prosecutors — a la Bragg, James, Smith, and Willis — coordinating with the White House and DOJ to indict Trump’s current chief adversaries, such as Gavin Newsom, Kamala Harris, or Josh Shapiro? Did Trumpers hire a foreign spy to concoct a fake hit dossier on Democratic grandees? Are his subordinates now spreading it to the media? Are 51 conservative former CIA contractors and retired spooks swearing that Newsom or Harris is working with the Russians, Chinese, or any of our enemies? The greatest Democrat fear? That it has so institutionalized excessive executive orders, ad hominem lawfare, lower-court usurpation, state nullification of federal law, and federal intervention in higher education, the energy industry, and the nation’s open spaces that their own legacies empowered Trump and now will boomerang upon themselves — as the public applauds the karma. Tyler Durden Sat, 09/06/2025 - 10:30
U.S. Tells "Maryland Father": No Asylum, Next Stop Eswatini The "Maryland Father" (well, in the eyes of leftist corporate media), otherwise known as alleged MS-13 illegal alien gangster Kilmar Abrego Garcia, was notified by the Department of Homeland Security about deportation plans to a tiny African country. In an email to the alleged MS-13 illegal alien gangster, published on X by Fox News' Bill Melugin, an Immigration and Customs Enforcement official informed the illegal that, given his concerns about being prosecuted and or even tortured in nearly two dozen countries, Eswatini is now considered the best fit. The email added, "Nonetheless, we hereby notify you that your new country of removal is Eswatini, Africa." Homeland Security commented on X, "Homie is afraid of the entire western hemisphere." Homie is afraid of the entire western hemisphere. https://t.co/lH7oZLaCKI September 5, 2025 Last month, leftist activist District Judge Paula Xinis, overseeing the illegal's case, ruled that the El Salvador native cannot be deported until early October. This comes as the illegal has been fighting for renewed asylum claims. The Trump administration recently offered the El Salvador native the option of deportation to Costa Rica in exchange for a guilty plea. However, his lawyers rejected the offer. He has been accused of human trafficking by the federal government. New data obtained by Newsweek of ICE data via a Freedom of Information Act (FOIA) request showed that the Trump administration is on track to deport 276,207 illegals annually, or about 1.1 million over four years. In other news... https://t.co/nZkBEj3GGi https://t.co/Zem0AayWUO pic.twitter.com/qJVpaAyJLb September 5, 2025 . . . Tyler Durden Sat, 09/06/2025 - 09:55
...And The Legacy Media Wonders Why Nobody Trusts Them Authored by Dr. James Allan via DailySceptic.org, Last year when I was asked to write a chapter for a US book on the incredible inroads and attacks on our civil liberties during the thuggish Covid lockdown years I decided, in part, to rank the worst offending groups. The lawyerly and doctorly castes were bad. They were woeful in fact. But the politicians as a class, the ones who ultimately made the calls, were worse – and there were very few exceptions to that generalised claim, as any Australian knows who looks for politicians who, say, resigned from Cabinet on principle (nada, zero) or who spoke up publicly and loudly against the massive authoritarian over-reach and aping of the policies of the Chinese Communist Politburo (a mere handful at most). So I gave the silver medal for thuggish lockdown commitment and stalwart thuggery to the political class. However, in terms of letting all of us citizens down I reserved the gold medal for the journalists of the legacy media. As a class they exhibited no scepticism. No thinking for themselves. They were fearmongers and PR agents for the modellers, public health gurus, ‘nudge’ manipulators and politicos. Yes, there were some brave exceptions. But very few. What we got from the legacy media was a sort of attempt to play the type of media you’d see in George Orwell’s 1984, dealing in Big Brother doublethink. And all of that is on top of the verifiably huge drift towards the political Left of the legacy media over the last few decades. Well, if you were hoping things would get noticeably better after the lockdowns ended, they haven’t. For just one instance, let me take you to the murders of two young children and the wounding of at least 17 others in Minneapolis, Minnesota last week. It took place at a Catholic school with the murderer shooting at random through a stained-glass window during the first school mass of the academic year. The legacy media embarrassed itself reporting on this because it went against all the progressive class’s and legacy media’s (but I repeat myself) deeply held shibboleths and Left-wing bromides. You see the murderer was a man, Robert Westman, who back in 2020 had changed his first name to Robin and come out as transgender. He said he was now a female. And he hated Donald Trump. And he left behind a sort of manifesto that oozed antisemitism along with other bits of nastiness. How to report this? How to report this, while still genuflecting before the progressive worldview? Life for the legacy media is just so much easier when a multiple shooter is a white, heterosexual male, preferably with conservative leanings. Then the details can be reported pronto. And the label ‘white nationalist’ will just be begging to be used. Alas, it was not to be. So on the transgender front the legacy media tied itself in knots. NBC News described the shooter as “a person in her early 20s”. The New York Times also used ‘she’ to describe the murderer. CNN talking heads worried about ‘misgendering’ the person who had killed two primary school kids and wounded 17 others, some severely. These journalists definitely know what’s important in a story, don’t they? The Washington Post got itself in a bit of a conundrum because, as it reported, “it is unclear how the shooter identified at the time of the incident”. Likewise, the NPR that President Trump has just defunded wrote that we “do not know how the person currently identified” while the very Left-leaning Associated Press told readers “the shooter’s gender identity wasn’t clear”. Oh, and on CNN the former FBI Deputy Director Andrew McCabe, the man embroiled up to his neck in the Russian collusion scam against Donald Trump, made a point of calling the trans murderer by his preferred identity: “I’m sure [the killer’s mother] is grieving for her daughter” – also somewhat misdirecting the first port of call for sympathy you might think. Meantime no legacy media outlet that I know of mentioned the fact that an awful lot of recent mass school shootings have been committed by transgender murderers – in Denver, Nashville, Uvalde, Georgia, Aberdeen, Philadelphia, the list goes on. In fact, it is a massively disproportionate number of such crimes being committed by transgender school shooters, a point I make for all the identity politics Lefties out there who insist on seeing the world in terms of groups. I agree with the growing numbers of people who say the two most likely reasons for this are a) gender dysphoria is a severe mental illness which right now is not being treated as mental illness, but instead is being humoured and encouraged. Or, b) transgender people who transition are being subjected to intense doses of drugs that may be having an unpredictable effect on their behaviour or aggravating their pre-existing mental illness. Because let’s be honest. If you told someone you were Napoleon Bonaparte trapped in the wrong body that person would not make empathy his main response and cater to your self-delusion. He would try to explain that there is a mind-independent truth about the external, causal world. Likewise, the 47 year-old cannot identify as a 13 year-old to win some sporting competition. Because however he feels or whatever his preferences, he is not 13 years old. Again, the white woman doesn’t get to be black just because that’s what she would like and is how she sees herself. As one US commentator rightly noted after this Minnesota tragedy, “The trans movement has been a disaster in every way and should be re-examined from the ground up.” And the higher up the socio-economic ladder you go, the more sympathy you find for this toxic empathy. Rich, white women seem to be the most in its thrall. The other big difficulty for the legacy media in reporting this shooting was the fact that the shooter hated Trump and wasn’t all-in on MAGA. Indeed, this shooter, Robert Westwood, had written “kill Donald Trump” on his gun. Now, how could they report that without pushing a characterisation that would help the current US President (a.k.a. ‘Hitler’)? Well, one of the terrestrial, longstanding main US TV networks tried to square that circle by reporting that the murderer had “Donald Trump’s name on his gun”. Yes, you read that sleight of hand correctly. Still want to know why the legacy media is dying and why conservatives, especially, no longer trust anything that they are being told by these partisan hacks? Why supposed Right-of-centre politicians pay any attention to these legacy media journalists is beyond me. Just look and see how Donald Trump and Pierre Poilievre treat them with disdain and copy that. Tyler Durden Sat, 09/06/2025 - 09:20
EU Lawmakers Skeptical Of Digital Euro As ECB Renews Pitch Authored by Jesse Coghlan via CoinTelegraph.com, The European Central Bank (ECB) renewed its push to issue a digital euro, drawing pushback from EU lawmakers over privacy protections and potential risks to commercial banks. ECB board member Piero Cipollone told a parliamentary economic committee on Thursday that a digital euro “will ensure that all Europeans can pay at all times with a free, universally accepted digital means of payment, even in case of major disruptions.” Some parliamentarians pushed back over concerns that the digital currency wouldn’t protect user privacy, and that offering accounts backed by the central bank would undercut the private sector. Legislation for the central bank digital currency (CBDC) has been before the European Parliament since 2023, and has faced delays amid political concerns and the 2024 elections. Digital euro seen as fallback in crisis The ECB’s Cipollone said the core of the bloc’s digital payment systems comes from non-EU providers, which could hinder the “capacity to act swiftly and independently — particularly in times of crisis.” He pitched the digital euro as a fallback in cases of cyberattacks or network outages, and noted US efforts to promote dollar-backed stablecoins. Source: ECB Cipollone said a digital euro would “complement physical cash, which remains key for resilience and inclusion,” but added that digital payments are now “essential to daily life,” which the government is expected to ensure. Lawmakers warn on privacy, risks to banks Some lawmakers raised concerns about the privacy implications of a digital euro and the risk that EU citizens would choose to bank with the ECB over a commercial bank, as it would present a safer option. On privacy, Cipollone stressed that the central bank “will not know anything about the payer and the payee” and that an offline solution for the digital currency “will be as good as cash in terms of preserving the privacy of the people.” Pierre Pimpie of the right-wing Eurosceptic Patriots for Europe group said “accounts in private banks could be emptied” due to a digital euro and took issue with the ECB having control over setting a cap on user accounts, which he argued the bank could raise in a crisis. Cipollone said the central bank’s cap would be set “on the basis of rigorous analysis” and added that if corporations and wealthy individuals “see a crisis in Europe, it will take them a second to buy a stablecoins denominated in a different currency.” “The digital euro at that point would be the least of our problems,” he added. ECB eyes 2026 law, rollout by 2029 Cipollone said the ECB was working under the assumption that digital euro legislation would be in place by the second quarter of 2026. Three EU institutions must greenlight the digital euro, including the parliament, the European Commission and the European Council. Talks among them could take months. After the law is passed, which could be as late as the middle of 2026, the ECB has to create and test the digital currency’s infrastructure, which could take up to three years, putting a potential launch around 2029 if no delays occur. Tyler Durden Sat, 09/06/2025 - 08:10
These Are Europe's Best-Selling Car Brands So Far In 2025 Which car brands are winning Europe’s competitive auto market in 2025, and how much of their sales are electric and hybrid vehicles? This visualization, via Visual Capitalist's Niccolo Conte, shows the best-selling car brands in Europe in the first half of 2025 so far using data from JATO Dynamics via Best-Selling Cars. It also showcases the share of internal combustion engine (ICE) sales vs. hybrid and electric vehicle (EV) sales for each car brand. Volkswagen Group Leads European Car Sales Volkswagen Group remains Europe’s top car seller, with over 1.8 million units sold in the first half of 2025, as seen in the data table below. While still heavily reliant on combustion engines (72% of sales), Volkswagen has steadily increased its electric offerings, which now represent 28% of sales. Volkswagen maintains a significant lead over Stellantis, the second-largest car brand with 1.04 million units sold in H1 2025. Stellantis has the highest share of combustion cars sold among the top 10 car brands at 83%, with just 17% of sales coming from EVs or hybrid vehicles. Europe’s Emerging Car Brand Competitors Renault Group (704,023) and Hyundai Motor Group (540,917) were third and fourth respectively, with both of them having 43% of their sales coming from hybrids or EVs. Premium brands like BMW group (40% electrified) and Mercedes-Benz (34%) are also rapidly transitioning towards more electric and hybrid offerings. Meanwhile, Chinese-owned Geely Group (with 67% of sales EV or hybrid) is gaining ground in Europe with competitive EV offerings and ranked ninth in total sales with 202,230 just ahead of Nissan (165,645) and behind Ford (257,337). Toyota’s Electrification Edge in Europe Toyota ranks sixth with nearly 479,000 cars sold but stands out for its electrification strategy. A remarkable 86% of its European sales were hybrids or EVs, the highest share of any top automaker. Toyota’s strong hybrid lineup and growing adoption of electrified models in Europe has helped it compete against larger-volume and domestic brands. To learn more about EV adoption around the world, check out this chart on global EV adoption over time on Voronoi, the new app from Visual Capitalist. Tyler Durden Sat, 09/06/2025 - 07:35
"The Time For Real Change Is Now!" - Conor McGregor Urges Irish To Lobby Councillors For Presidential Bid Authored by Thomas Brooke via Remix News, Former MMA champion Conor McGregor has urged his online supporters to pressure local councillors into nominating him as a candidate for the Irish presidency. In a video filmed outside Government Buildings in Dublin, McGregor attacked the government over homelessness, migration, and security. “We have seen the homelessness of Irish children rise to levels unprecedented, proving this government’s refusal to abide by and respect our proclamation where all children of Irish are to be cherished. Instead, our children abandoned,” he said. He also claimed tourism had declined and “danger on our streets has risen” as a result of mass immigration. Citizens of Ireland, the time for real change is now! As President, I will not sign any bill in law until it goes back to the people first! If you want to see my name on the ballot for the Presidency, I urge you to contact your local county councillors today and ask them to… pic.twitter.com/LGDCSGN9vr September 4, 2025 Describing himself as a “master of martial combat” and a “solution-driven man,” McGregor called on his followers to contact councillors. “If you want to see my name on the ballot for the presidency, I urge you to contact your local county councillors today and ask them to nominate me,” he said. “Our councillors are the backbone of our communities. They work harder and deliver more for the people than those in the Oireachtas, who continue to fail this country time and again.” He told supporters he wanted to be “a president face to face with government officials with only one priority — to ensure that the country our founding fathers gave their lives for is strictly adhered to on behalf of its citizens.” He tied his message to Ireland’s republican tradition, invoking the 1916 Proclamation. “Ireland, under my tenure, the will of the people will be heard. Ireland under my tenure, we will return important articles of our constitution prior, and thus again aligning with Padraig Pearse’s proclamation,” he said, referring to the revolutionary who was one of the leaders of the Easter Rising. To run, a candidate must secure the backing of either four of the State’s 31 local authorities or 20 members of the Irish bicameral parliament. McGregor’s plea suggests he is not confident about securing the latter, and is thus seeking the people to lobby their local councillors to get him on the ballot. The Irish presidential election is scheduled to be held on Oct. 24. Read more here... Tyler Durden Sat, 09/06/2025 - 07:00
The Power Of Siberia 2 Pipeline Deal Signifies The Failure Of Trump's Eurasian Grand Strategy Authored by Andrew Korybko via Substack, Trump’s escalatory signals in Ukraine, the Indo-US split that he induced, and the attendant alleviation of the Sino-Indo security dilemma freed Russia up to clinch the long-negotiated Power of Siberia 2 deal... Trump’s Eurasian grand strategy has sought to preemptively avert Russia’s potentially disproportionate dependence on China in order to avoid having its natural resources turbocharge the superpower trajectory of the US’ only systemic rival. In pursuit of this, the US envisaged entering into a resource-centric strategic partnership with Russia upon the end of the Ukrainian Conflict, expecting that this shared goal would incentivize Putin into agreeing to significant territorial and/or security concessions. Trump’s unwillingness or inability to coerce Zelensky into any of Putin’s demanded concessions paired with increasingly concerning reports about plans to deploy NATO to Ukraine to spook Putin into ditching his balancing act and pivoting to China. The successful clinching of their long-negotiated deal over the Power of Siberia 2 gas pipeline, which will nearly double Russia’s gas exports to China to ~100 bcm a year and at a cheaper price than the EU receives, signifies the failure of Trump’s Eurasian grand strategy. Putin might have held out for longer had Trump not inadvertently catalyzed the incipient Sino-Indo rapprochement via his hypocritically punitive tariffs that aim to derail India’s rise as a Great Power. That spooked India into patching up its ties with China, which alleviated their security dilemma that the US was exploiting to divide-and-rule them. This in turn reduced India’s worries about closer Russian-Chinese energy cooperation that it previously feared could lead to Russia becoming China’s junior partner. It was never officially voiced, but astute observers and those who’ve talked to Indian thinkers know that India was worried that China might leverage its influence over Russia to get it to curtail or cut off military exports to India, therefore giving China a pivotal edge in their border dispute. The Trump-induced Indo-US split and attendant alleviation of the Sino-Indo security dilemma freed Russia up to clinch the Power of Siberia 2 deal without fear of spooking India into the US’ arms and thus dividing-and-ruling Eurasia. The growing convergence between BRICS and the SCO, which aim to gradually reform global governance via their complementary efforts to accelerate multipolar processes, is due in no small part to India’s embrace of both in response to new strategic threats from the US. Prime Minister Narendra Modi’s first visit to China in seven years to attend the SCO Leaders’ Summit, during which time he held an important bilateral meeting with President Xi Jinping, is expected to lead to a new normal in Sino-Indo ties. The roots of their tensions haven’t been resolved, but Russia expects that they’ll now be better managed, ergo why it clinched its deal with China over the Power of Siberia 2 gas pipeline right after also concluding that the US won’t try to help it obtain any of what it wants from Ukraine. To review, Trump signaled escalatory intent in Ukraine reportedly as the quid pro quo for the US-EU trade deal and then Sino-Indo ties improved as Indo-US ones worsened, thus making Power of Siberia 2 politically possible. Trump’s foreign policy towards Eurasia has therefore indisputably failed. His team’s misguided approach towards Russia and India in demanding too much of them led to those two and China working out their differences, which exist amongst themselves bilaterally but also regarding their ties with the US, and consequently accelerated multipolar processes at the expense of the US’ unipolar interests. The Rubicon has clearly been crossed after this latest pipeline deal and it’s anyone’s guess how the US will respond. Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge. Tyler Durden Fri, 09/05/2025 - 23:25
Pulque: A 2,000-Year-Old Sacred Mesoamerican Booze Authored by Ross Pomeroy via RealClearScience, The Mexica people ruled the Aztec Empire in the Valley of Mexico for its roughly 90-year duration between the 15th and 16th centuries. Mexica mythology tells of an intoxicated deity, Ometochtli, whose drink of choice was pulque. White and viscous, with a strong, yeasty odor of slightly spoiled buttermilk, pulque is produced through fermenting a sugary sap known as aguamiel, extracted from certain species of Agave plant. According to myth, the goddess Mayehuatzin, Ometochtli's sister, provided the aguamiel and plied him with his favorite fermented booze. While pulque is today little known outside of Mexico, it has deep roots in human history, tracing back 2,000 years in Mesoamerica. Researchers at the Escuela Superior de Medicina del Instituto Politécnico Nacional in Mexico City recently explored its longstanding significance in a paper published to the journal histories. The Mexica may have been most fond of pulque, but the Teotihuacanos, Otomies, Zapotecas, Mixtecas, and Maya also consumed it. "Anthropological evidence, including pottery, murals, codices, chronicles, and oral cosmological traditions, suggests that this... alcoholic beverage was already part of the diet of the inhabitants of Teotihuacan," the authors wrote. "Pulque is therefore one of the oldest, if not the most important, fermented beverages in Mesoamerican history." One of the reasons pulque is relatively overlooked compared to other fermented beverages, such as kombucha (originating in ancient China) and kefir (hailing from the North Caucasus), is its exceedingly brief shelf life. Naturally fermented in an enclosed container over 12 to 24 hours, it reaches an alcohol concentration comparable to beer – roughly 4 percent to 6 percent – then rapidly spoils over the next 24 to 36 hours. Its transience made it a sacred drink and divine gift in ancient Mesoamerican cultures. "It was highly esteemed and reserved for the nobility and priesthood, who consumed it during ceremonial and religious rituals," the researchers described. Today, pulque's transience makes it difficult to export and sell. While the Spanish conquistadors enjoyed it (and its intoxicating effects) after conquering the Aztecs, pulque over time fell out of favor compared to longer-lasting beer, tequila, and wine. European rulers also carried out a coordinated smear campaign against pulque in the late 19th and early 20th centuries. "This anti-pulque campaign, orchestrated by political elites, stigmatized the drink, its producers, and its consumers, depicting it as unsanitary and associated with poverty, indigeneity, and illiteracy," the authors wrote. Currently enjoyed by locals and tourists in Mexico, pulque hasn't found widespread fandom anywhere else. Pasteurized versions – which last for months – do exist, but food writers express that the experience isn't remotely the same. "It’s the original active fermented beverage which will simply go bad after a few days so it’s truly a locavore phenomenon," Max Garrone wrote for Flaviar. As for the flavor, award-winning food writer Naomi Tomky calls it "intriguingly zingy." "Natural or plain, pulque is an opaque milky color but fizzy and bright on the tongue. Sweet, but not cloying, lightly viscous but not slimy, and just ever-so-subtly yeasty, like the whiff of freshly risen bread dough hitting the oven." Tyler Durden Fri, 09/05/2025 - 22:35
India Doubles Down On Russian Oil Purchases, As Trump Declares Both Are 'Lost' To 'Deepest, Darkest China' President Trump on Friday said India and Russia seem to have been "lost" to China following Modi and Putin having met with President Xi Jinping this week, amid the leaders hailing the forging ahead of a new multi-polar order which seeks to thwart a purely Washington-centric global system. "Looks like we’ve lost India and Russia to deepest, darkest, China. May they have a long and prosperous future together!" Trump wrote in a social media, with an accompanying a photo of the three leaders together at Xi's summit in China. PM Modi, via X This has been followed on Friday with India confirming that it will double down on Russian oil purchases, in defiance of US tariffs and threats. "Where do we buy our oil from, especially since it’s a very expensive commodity, we pay a very high price for it and it’s the highest import, so we’ll have to decide what suits us best," Indian Finance Minister Nirmala Sitharaman said in an interview. She then emphasized somewhat defiantly, "We will definitely buy it." On the same day, this development reported in Reuters will only serve to exacerbate tensions: Top Indian refiner Indian Oil Corp (IOC.NS), opens new tab skipped the purchase of U.S. oil in its latest tender and instead bought 2 million barrels of West African and a million barrels of Middle Eastern grade, trade sources said on Friday. The state refiner also bought one million barrels each of Nigerian oil grades Agbami and Usan from French oil major TotalEnergy, and another million barrels of Abu Dhabi's Das crude from Shell, the people said. Nigerian oil has been bought on free-on-board basis and Das has been purchsed on a delivered basis for arrival at Indian ports in late October-early November. In its previous tender last week, IOC bought 5 million barrels of U.S. West Texas Intermediate. This comes amid Trump's escalating trade war with New Delhi, but he now seems resigned to simply admit India has been "lost" to China and Russia. Russian Foreign Minister Sergey Lavrov earlier this week hailed that India, among the largest economies on the planet, has not given in to US demands to stop purchasing its oil and other products. A combined population of almost 3 billion... "Such tariffs have already been introduced, for example, against India - our particularly privileged strategic partner, a major consumer of Russian goods, in particular, hydrocarbon raw materials," the top Russian diplomat explained. "We appreciate the fact that New Delhi did not bend under pressure and remains committed to the principles of free trade," Lavrov stated. Tyler Durden Fri, 09/05/2025 - 22:10
Lone Senate Voice Criticizes Trump's Bombing Of Boat Near Venezuela Authored by Dave DeCamp via AntiWar.com, Sen. Rand Paul (R-KY) on Thursday criticized the Trump administration’s decision to bomb a boat near Venezuela over claims that it was carrying drugs, an action that was taken without providing any evidence. "It’s hard to have any sympathy for drug dealers trying to import product into our country," Paul said in an appearance on Newsmax. "But at the same time, I guess, you might ask the question, ‘Where does it end? Are we the world’s policemen?" Via Associated Press The Kentucky senator said that US authorities wouldn’t bomb a boat if it were off the coast of the US and suspected of running drugs. “We all assume these people were bad people and drug dealers, but if they were caught off the coast of Miami, we would stop the boat. If they don’t shoot at us, we don’t shoot at them,” he said. Paul said that the “reason we have trials and we don’t automatically assume guilt is what if we make a mistake and they happen to be people fleeing the Venezuelan dictator?” He added that in the US, even the “worst people” accused of terrible crimes are entitled to a trial. President Trump claimed that the strike on the boat killed 11 people who were members of the Venezuelan gang Tren de Aragua, a Venezuelan gang the US government has labeled “narcoterrorists.” Secretary of Defense Pete Hegseth and other US officials have said more strikes are coming and are not ruling out the possibility of pursuing regime change in Venezuela, which may be the real purpose of the deployment of multiple US Navy warships to the Southern Caribbean. Rand Paul: "The reason we have trials and we don't automatically assume guilt is what if we make a mistake and they happen to be people fleeing the Venezuelan dictator? ... off our coast it isn't our policy just to blow people up ... even the worst people in our country, if we… pic.twitter.com/UpKVFAy5XU September 3, 2025 Venezuelan President Nicolas Maduro has denied the US accusations that he’s involved in drug trafficking and is vowing to fight if the US attacks his country. Other Venezuelan officials have downplayed the US strike on the boat, claiming that the video Trump released purporting to show the bombing may have been a fake, AI-made video. Tyler Durden Fri, 09/05/2025 - 21:45
A Stealth Fighter Pilot's Timeless Rules For Making Tough Decisions Authored by Rebecca Day via The Epoch Times, Clear thinking and effective decision-making skills are two pillars of personal and professional success. But it can sometimes be hard to know if you’re making the right call amid a sea of options. Or maybe too much information causes you to forgo a decision, sometimes referred to as “analysis paralysis.” U.S. Air Force pilot Hasard Lee tackles these common problems and teaches us an easy-to-apply, well-rounded system full of effective solutions with his book, “The Art of Clear Thinking: A Stealth Fighter Pilot’s Timeless Rules for Making Tough Decisions.” And as an experienced combat pilot and instructor, no one is better equipped to teach clear thinking and quick decision-making than Lee. His book offers a contemporary approach to timeless wisdom. The nonfiction work incorporates practical tips and methods that are immediately applicable to a range of situations, from business decisions to everyday problems. But before Mr. Lee explains just how we can learn to think better, he first takes us into the high-speed professional life of a fighter pilot. Author Hasard Lee. St. Martin's Press An Exhilarating Read From dogfights during some of combat’s most hazardous conditions to training sessions as one of the Air Force’s most skilled pilots, Lee’s extensive experience flying the world’s most complex combat jets, including the F-16 and F-35, is highly impressive. Through his debut book, he helps readers see that the pressure and chaotic environments he’s lived through are highly relatable. Several of the book’s chapters begin with anecdotes of some of Lee’s most high-stakes missions. These riveting, eye-opening stories offer a bird’s-eye view of what it’s like to be an Air Force fighter pilot in the U.S. military. And this unique author experience is what sets “The Art of Clear Thinking” apart from the rest. He takes us back in time to some of history’s most historic battles, including the American military’s invasion of Normandy on June 6, 1944. As it turns out, this historic mission was supposed to happen the day before. However, Royal Air Force Captain and meteorologist James Stagg, who worked closely with President Eisenhower during the mission, noticed weather radar had picked up stormy conditions that would directly affect the operation. The high winds alone, making the sea especially choppy, would make it tough for landing craft to successfully reach Normandy’s coastline. Heavy cloud coverage would also make navigation difficult for aircraft. A tough call had to be made. Troops needed to be instructed to either go forward with the mission despite inclement weather or postpone it to June 6, when a possible break in the storm was forecast. General of the Army Dwight David Eisenhower circa December 1943. Public Domain A little-known factor played a key role in the ultimate success of this foray: U.S. President Dwight D. Eisenhower’s quick decision-making abilities and ability to prioritize a multitude of pressing tasks. His mental toughness and skill allowed his team to adapt to the situation and make the hard, risky decision to postpone the operation for 24 hours. It was met with much criticism. Any delay gave the Germans a chance to find out about the planned attack. Despite pushback, Eisenhower’s strategic thinking and ability to take vast amounts of information and prioritize what was necessary helped put American soldiers in an advantageous position. A First-of-Its-Kind Program With many combat missions and flight hours under his belt, Lee ultimately became an instructor. Instead of limiting his teaching solely to flight instruction, he became part of a group of fellow instructors who developed a “first-of-its-kind program” that treated mental toughness not as an innate character trait but as a skill that could be harnessed and learned. During the program’s development, he drew on his years of experience as a fighter pilot. He also incorporated lessons learned during his time as a boxer while attending the Air Force Academy. While at the academy, he was introduced to the concepts behind sports psychology for the first time, which he continued to build upon throughout his professional career. The visionary program he helped spearhead was such a success for the Air Force that it is now an integral part of every pilot’s training. The book features several of the program’s lessons that are easily adaptable to everyday life. Lee has spent time teaching the lessons included in “The Art of Clear Thinking” to people involved in many disciplines, from business executives to athletes on professional sports teams. Lee understands why this type of wisdom is accessible to humans from all walks of life. In “The Art of Clear Thinking,” he states, “High performance isn’t something that can be turned on and off—to thrive in the cockpit, the pilots needed to thrive in their personal lives.” This mentality built for success easily translates to anyone who wants to better themselves personally, accomplish goals professionally, and live all-around more fulfilling lives. X-35B flying over Edwards Air Force Base. Public Domain Inspiration for Every Reader Athletes and other performance-based professionals can take advantage of Lee’s simple yet highly effective tactics to remain calm amid adversity. Tried-and-true breathing techniques and resetting one’s internal dialogue are included in the text, along with an easily digestible section on the science behind this type of sports psychology-based training. The book briefly delves into the science of the brain, its chemical reactions, and how that affects us physiologically. Business professionals and goal-oriented individuals can particularly benefit from the author’s section on Humans as Decision-Makers, which highlights the importance of developing one’s critical thinking skills as opposed to only relying on technology to do all of the forecasting that often comes with trying to anticipate market conditions. The core of this book revolves around conceptual thinking. Lee helps you understand how to apply an integrated system of ideas to a problem when information is sometimes either too abundant or too scarce and come up with a quick, effective solution. This is a big reason why it’s such a well-rounded work on mental fortitude. Man is only as good as his grasp of concepts, and Lee eloquently elaborates on this important point of reality in his chapter Fast-Forecasting: “When we rashly turn over our decision-making to external aids, such as committees or computers, we lose the ability to bring the full power of our brain to bear on a problem. We, in essence, have carved out a hole in our understanding and replaced it with someone else’s solution. If we don’t learn the underlying concepts behind that new information, then we’re blindly trusting that it’s correct. We lose the ability to quickly reconfigure concepts into creative solutions, which is one of the great strengths of the human mind.” Assess, Choose, Execute Many more tips, tricks, and thought-provoking stories are discussed throughout this entertaining and helpful read. The book itself is laid out across three different overarching sections: Assess, Choose, and Execute, which make up a concept fighter pilots learn early on that is vital to their success: the Ace Helix. This method involves assessing the problem at hand, swiftly choosing the proper “course of action,” then prioritizing tasks that aid in the execution of decisions that will help reach the goal or solution efficiently. The book’s readability and layout make it an easy read and one you can treat as a guide you can come back to over and over again. It’s a helpful reference tool that aids in navigating life’s complex situations that require quick, effective decisions. Equal parts practical wisdom and philosophy, “The Art of Clear Thinking” is a great resource to have on hand for a calm mind and reasoned thinking. * * * Patriots, these handmade flags are really cool. Made by ZH reader John O. Pick one up and support both ZeroHedge and John's work. Tyler Durden Fri, 09/05/2025 - 20:55
Top Secret Seal Team Mission Into North Korea Ended With Massacre Of Civilians & Zero Intel Gained On Friday The New York Times revealed what may go down in history as the single most ignominious fiasco of US special operations in years, or possibly even decades - a positively wild story which is going to cast a further spotlight on Trump and current and former intelligence officials and elite military commanders. In early 2019 at a moment President Trump during his first term publicly engaged in high-profile diplomacy with Kim Jong Un, which included chummy summits at the DMZ border and the exchange of letters, a highly secretive operation by the US Navy's SEAL Team 6 ended with a group of North Korean civilian fishermen massacred under mysterious circumstances. Trump as Commander-in-Chief had ordered a high-risk mission, utilizing low-tech methods to avoid detection, to insert the Seal team on the North Korean coast where they would install a surveillance device capable of intercepting Kim Jong Un’s most sensitive communications. It would be hidden from Congress and the public, and even government officials based on need-to-know access. It's one of those past covert ops which was never intended to see the light of public knowledge. SEAL Delivery Vehicle mini-submarine, illustrative file image via US Navy The Times report describes the mission's purpose as likely to give the White House a huge leg up as Trump tried to engage Kim on the nuclear front, to achieve hoped-for historic denuclearization on the Korean peninsula. "The objective was to plant an electronic device that would let the United States intercept the communications of North Korea’s reclusive leader, Kim Jong-un, amid high-level nuclear talks with President Trump," it says. But the report notes that the hidden surveillance objective may have had a broader purpose. "The mission had the potential to provide the United States with a stream of valuable intelligence," NY Times continues. "But it meant putting American commandos on North Korean soil — a move that, if detected, not only could sink negotiations but also could lead to a hostage crisis or an escalating conflict with a nuclear-armed foe." Essentially this would be a small-scale invasion and breach of one of the most militarized and paranoid countries in the region and on earth. It should be noted that it is covert operations like these which give autocrats like Kim Jong Un (or previously: Saddam, Gaddafi, Assad, as well as the Iranians) valid reasons to be paranoid concerning Western spies and elite operatives. The report details that under the cover of night, the Seal team landed on a North Korean shoreline after they swam through freezing waters with untraceable equipment, operating completely blind and with no typical drone, spy plane or overhead surveillance or real-time mapping. Even their weapons and bullets were selected so as to be 'untraceable'. Apparently there was precedent for this, something also long kept secret: "In 2005, SEALs used a mini-sub to go ashore in North Korea and leave unnoticed, according to people familiar with the mission," NY Times discloses. "The 2005 operation, carried out during the presidency of George W. Bush, has never before been reported publicly." Every aspect to the 2019 infiltration was ultra high-risk, NYT continues: The plan called for the Navy to sneak a nuclear-powered submarine, nearly two football fields long, into the waters off North Korea and then deploy a small team of SEALs in two mini-subs, each about the size of a killer whale, that would motor silently to the shore. The mini-subs were wet subs, which meant the SEALs would ride immersed in 40-degree ocean water for about two hours to reach the shore, using scuba gear and heated suits to survive. Eight Seals would swim to the target and plant the device, but the mission began to dramatically unravel from nearly the moment they surfaced in the dark of night. Illustrative: Ohio-class nuclear-powered guided missile submarine USS Georgia with SEALs undergoing training, US Navy Given the lack of real-time intelligence and communications black-out, intelligence analysts had studied and monitored the intended landing spot for months prior via satellite, to ensure no North Korean soldiers or bystanders could detect the operation. But it turns out there was a fishing boat very near the target zone: Every few yards, the SEALs peeked above the black water to scan their surroundings. Everything seemed clear. That might have been a second mistake. Bobbing in the darkness was a small boat. On board was a crew of North Koreans who were easy to miss because the sensors in the SEALs’ night-vision goggles were designed in part to detect heat, and the wet suits the Koreans wore were chilled by the cold seawater. The SEALs reached shore thinking they were alone, and started to remove their diving gear. The target was only a few hundred yards away. By that moment, one group of Seals had made it to the shore, while another had stayed with the underwater small subs. Thinking that the fishing boat had likely detected the subs, which may have been exposed due to wake-movement or bubbles at the surface, and possibly underwater lights - a Seal commander at the shore opened fire on the boat. "As the shore team watched the North Korean in the water, the senior enlisted SEAL at the shore chose a course of action," NY Times details. "He wordlessly centered his rifle and fired. The other SEALs instinctively did the same." Upon inspection of the shot-up boat, all the crew were dead. They had just been unarmed civilians diving for shellfish. But to conceal their presence, the Seals punctured the lungs of the corpses so the bodies would sink to the bottom of the ocean floor. From that point, "The SEALs swam back to the mini-subs and sent a distress signal." The report adds: "Believing the SEALs were in imminent danger of capture, the big nuclear submarine maneuvered into shallow water close to the shore, taking a significant risk to pick them up. It then sped toward the open ocean." The fact that this highly classified incident is being leaked to the press now is significant in its own right... This is insane. Trump secretly deployed SEAL Team 6 into North Korea to plant a listening device but the mission collapsed when a fishing boat approached. SEAL Team 6 killed every civilian, sank the bodies by piercing their lungs, and escaped. Congress wasn’t told about it. pic.twitter.com/JnnZuSqibt September 5, 2025 The Seal team made it back unharmed, and US officials told the NY Times that a flurry of intense North Korean military activity was later observed by satellites at that same shoreline. Pyongyang never made accusations or statements publicly acknowledging there was a deadly incident, and the US gained no intelligence from it - as the listening device was never planted - and there was apparently never accountability. The whole episode suggests there may be many more such 'secret failures' involving special forces in recent history. Special operations tend to only be made public, and celebrated, when they are a success; however, such missions which end in futility and innocent civilians dying get covered up, often with mission overseers getting promoted. Pyongyang is certainly paying close attention to the Friday Times report. * * * Pasta lovers check this out, and sign up for our store's no-spam 'second channel' email here... Tyler Durden Fri, 09/05/2025 - 20:30
Nasal Spray May Reduce Risk Of COVID-19 Infection: Study Authored by Zachary Stieber via The Epoch Times (emphasis ours), A nasal spray typically used to relieve allergy symptoms may help combat COVID-19, according to a new study. An electron microscope image shows SARS-CoV-2 (round gold objects), which causes COVID-19, emerging from cultured cells. NIAID via The Epoch Times People who received the azelastine nasal spray in a randomized, placebo-controlled trial in Germany were less likely to test positive for COVID-19, researchers reported on Sept. 2. Only 5 participants administered the spray had laboratory-confirmed COVID-19, compared to 15 in the placebo group, they said. Spray recipients also had a lower incidence of rhinovirus infections. The single-center trial involved 450 people receiving the spray or a placebo three times a day for 56 days. The trial lasted from March 2023 to July 2024. “Azelastine nasal spray could provide an additional easily accessible prophylactic to complement existing protective measures, especially for vulnerable groups, during periods of high infection rates, or before travelling,” Dr. Robert Bals, professor of internal medicine at Saarland University, who led the trial, said in a statement. In a commentary article, also published by JAMA Internal Medicine, U.S. researchers Dr. Samuel Vidal and Dr. Dan Barouch said that the German scientists reported “promising data.” Since the trial was carried out at one center and had a relatively modest size, further studies are needed to assess whether the spray is actually effective against COVID-19, Bals and his co-authors said. “These findings support the potential of azelastine as a safe prophylactic approach warranting confirmation in larger, multicentric trials,” they wrote. The trial was funded by URSAPHARM Arzneimittel GmbH, which manufactures the spray, and some of the authors are employees of the company. In the United States, azelastine was approved in 2012 to reduce symptoms of seasonal allergies. It is sold as Dymista and is also available generically. Side effects include drowsiness and headache. Earlier Findings Some earlier papers have also indicated that the spray works against seasonal viruses. In a trial carried out in India that involved some of the same German researchers, neither arm had COVID-19-related hospitalizations, but recipients of azelastine had lower viral loads and improved symptoms, the researchers said in a 2024 paper. People who tested positive for COVID-19 and received the antihistamine had lower viral loads than placebo recipients, researchers, including some of the authors of the new paper, said in a 2023 paper. The trial was conducted in Germany. Both of those trials were funded by URSAPHARM. Scientists said in 2022 that a study indicated that azelastine reduced the effects of COVID-19 in vitro, or in a laboratory setting. The study received funding from CEBINA GmbH, a partner of URSAPHARM. Tyler Durden Fri, 09/05/2025 - 20:05
Watch: Israel Systematically Flattens High-Rise Buildings In Gaza City The war on the 'high rises' has begun, as shocking footage shows Israel's military has begun pulling down buildings one by one as part of its operation to take over Gaza City, through powerful missile strikes at their base. The Israel Defense Forces (IDF) has sought to justify its actions by saying Hamas and Islamic Jihad hide in the buildings, as use them to organize assaults on Israeli troops. IDF started flattening high-rise buildings in Gaza City in what looks like the 1st significant phase of its new offensive. IDF claims Hamas used this building for military purposes pic.twitter.com/wrpTmHN9pG September 5, 2025 Widely circulating images show that large buildings in the city center have been completely collapsed into their own footprint. And on Friday, Al Jazeera reports that more are being targeted, amid IDF warnings issues to residents of certain buildings, saying that must immediately evacuate the premises. "In the past half an hour, the Israeli army has issued a forced evacuation order for people living in Gaza City’s largest residential building," according to Al Jazeera’s Hani Mahmoud. "We’re talking about a 16-storey building that houses at least 65 residential apartments and lots of department stores at the bottom of this residential tower," Mahmoud described. Another angle of the collapse... Gaza City high-rise crumbles in new angle of IDF's missile assault on Mushtaha Tower Israel's Defense Minister marked strike as 'removing bolt from GATES OF HELL in Gaza' 'When the door is opened, it will not be closed, and IDF activity will intensify' https://t.co/J3Sr7Q6UXr pic.twitter.com/tMI9sKrKLt September 5, 2025 Palestinian residents are receiving phone calls telling them they have a very short window of time to get out of their homes, leading to fear and panic among civilians. Previously the 12-story Mushtaha Tower (above and below) was blown up after Israel called it "Hamas infrastructure". At this rate it's expected that the entire central Gaza City area will be flattened. The IDF called it "terrorist infrastructure" and utterly destroyed it... Israel's military has also been regularly destroying tunnel networks under the city, as Hamas has frequently use these for guerilla warfare tactics. Hamas has been ambushing IDF infantry units by sending small teams from these tunnels. Tyler Durden Fri, 09/05/2025 - 19:40
Top Indian Refiner Snubs US Oil In Latest Tender By Tsvetana Paraskova of OilPrice.com India’s top refiner, Indian Oil Corporation Ltd (IndianOil), has forgone buying U.S. crude at this week’s tender, instead opting for Middle Eastern and West African crude, sources in the oil trade industry told Reuters on Friday. At the previous tender last week, IOC bought as many as 5 million barrels of U.S. West Texas Intermediate crude. But this week, the biggest refiner in the world’s third-largest crude importer bought 2 million barrels of West African crude, another one million barrel of Nigeria’s Agbami and Usan crudes, and two million barrels of Middle East crude, including one million barrels of Abu Dhabi’s Das from Shell, according to Reuters’ sources. Competitive prices for U.S. crude in an open arbitrage window to Asia have prompted Indian state and private refiners to accelerate buying of American oil in recent weeks. A few weeks ago, rising prices of Middle Eastern grades opened the arbitrage window for West Texas Intermediate (WTI) to flow to Asia. Key grades from the Middle East, such as Dubai and Murban, have seen their prices rise in recent weeks on the back of strong demand for high-sulfur crude in Asia and reduced shipments of Murban. As India’s purchases are driven by economics above all else, both state and private refiners bought more U.S. crude in August to take advantage of the lower freight costs and the open arbitrage window. The higher purchases of U.S. crude could help reduce the huge trade deficit that the United States runs with India. With difficult U.S.-India trade talks, the Trump Administration has singled out India to punish as a buyer of Russian crude. Indian refiners, however, are not giving up on Russian crude—they continue to seek bargain prices and are expected to import more Russian oil in September compared to August levels as discounts are deepening amid Russia’s constrained refining capacity due to Ukrainian drone strikes. Tyler Durden Fri, 09/05/2025 - 19:15
Vietnam Replacing China As Key Link In Global Supply Chains Vietnam is turning into a production powerhouse for the world as a result of the U.S. trade war, , according to Caixin. For example, once a farming region, Bac Ninh has become northern Vietnam’s industrial hub, driven by Chinese manufacturers relocating operations south to avoid U.S. tariffs and diversify supply chains. The shift began with the U.S.-China trade war and has accelerated as clients pressure suppliers to set up in Vietnam. “When the trade tensions began in 2018, one client suggested we look into Vietnam,” said Li Fangting of Mingjie, a Dongguan-based plastics maker. “After the pandemic, those suggestions turned into demands. Some clients said we wouldn't be considered for new orders unless we had a presence in Vietnam.” Mingjie now produces in Bac Ninh for U.S. and European markets. But costs are rising. Industrial land in Bac Ninh is pricier than in many Chinese regions, and wages are catching up. Some firms now produce goods costlier than their Chinese equivalents, relying on tariff gaps that could vanish overnight. In April, the U.S. slapped a 46% tariff on Vietnamese exports, later trimmed to 20%. Despite these pressures, northern Vietnam is emerging as a “world assembler.” Samsung, which has invested over $23 billion since 2008, anchors a cluster of electronics producers, joined by Apple suppliers like Foxconn, Goertek, and Luxshare. “Over the past few years, we’ve seen a surge in supply chain companies, logistics providers, and packaging firms entering Vietnam, following in the footsteps of their major clients,” said Anchalee Prasertchand of Thailand’s WHA Group. Caixin writes that supply chains remain incomplete, forcing many manufacturers to import components from China. In textiles, 80% of yarn still comes from China, said Tian of Hechang Threads Dyeing. Furniture is more self-sufficient, with 90% of inputs sourced locally, though steel and panels remain scarce. As one factory owner put it: “In fact, the global center of furniture production shifted from Dongguan to Binh Duong by 2018. This industry won’t be going back to China.” Even with higher costs, Vietnam’s tariff advantage sustains momentum. Executives estimate Vietnamese goods are 15% more expensive than Chinese ones, but with U.S. tariffs averaging 57.6% on Chinese products versus 20% on Vietnamese, the gap is decisive. Chinese firms are also eyeing Vietnam’s domestic market of 100 million people. “Trade wars may be the spark, but going overseas is really about tapping global markets — not just the U.S., but also Europe and Southeast Asia,” said Niu Qiang of KCN Investment Consulting. “For Chinese companies, this is the true start of globalization.” Automakers highlight the shift. Shineray Motors, which entered in 2018, adapted trucks for local roads and weather. Its mini-commercial vehicles now hold 30% of Vietnam’s market. “Now is a good time to lay the groundwork for the passenger car and new energy vehicle market,” said general manager Wang Lu. Giants like Geely and Great Wall are also investing, cementing Vietnam’s role as both a manufacturing hub and consumer battleground. Tyler Durden Fri, 09/05/2025 - 18:50
Democrat Extremism Underwrites Trump Authored by J.T. Young via RealClearPolitics, Democrats’ extremism continues to underwrite Donald Trump’s agenda. Since 2021, this has been the case, and it shows no sign of stopping. Rather than bolstering them as an alternative, Democrats are giving Trump the leverage to pursue his aggressive agenda. President Trump remains divisive. While his job approval and favorability ratings are higher than they were eight years ago, they remain low. According to Real Clear Politics’ August 28 average of national polling, Trump’s approval rating is 45.3%-51.5% for -6.2% net; on August 28, 2017, Trump sat at -16.9%. According to RCP’s polling average of Trump’s favorability, he is 44.3%-52.1%, for -7.8%; on August 28, 2017, Trump was -17.9%. Trump’s 2024 victory was a landslide in swing states and states between the coasts. However, Trump’s win in the popular (below 50%) and in the electoral votes (312-226) was hardly historic. Nor did he bring home large congressional majorities: Republican control of the Senate (by six votes, 53-47) and House (by five votes, 220-215) do not approach past presidents’ majorities. Yet Trump took office governing like FDR in his first 100 days. Now into his third “hundred days,” Trump is still doing so. And this is a president who was twice impeached and once defeated: No impeached president has ever been reelected (let alone a twice-impeached one), and the last time a defeated president was reelected occurred over 130 years ago. How is this continued momentum possible? Democrats’ extremism is making them even less popular. According to a recent WSJ poll, Democrats’ popularity is at a 35-year low. This is no outlier: Other polls show similar results. Between 2020 and 2024, Republicans gained up to 4.5 million registered voters versus Democrats, who saw net losses in all 30 states reviewed by the NYT. And Trump’s 2024 victory was attributable to an overwhelming win in “fly-over” country: The 46 states outside California, New York, Massachusetts, and Washington contain 80.5% of America’s electoral votes; Trump won 72% of them in 2024. The issues that the Biden-Harris ticket lost on last November are the same issues that Democrats are insistent about fighting Trump on now. On illegal immigration, RCP’s average of national polling showed Biden’s last job approval rating was just 33.5%. Yet Democrats continue to challenge Trump at every juncture: They have tried to make Kilmar Abrego Garcia into a martyr; they have stormed ICE detention facilities; they have tried to jeopardize ICE agents’ safety by pushing to bar them from wearing masks. On crime, RCP’s average of national polling showed Biden’s last job approval rating was just 38%. Yet Democrats continue to challenge Trump on his push against crime: They have objected to him deploying the National Guard in Washington, D.C., despite D.C. Mayor Muriel Bowser saying it has reduced the city’s crime; and they have threatened to take him to court if he tries to deploy the National Guard in crime-ridden Chicago. The same anti-Trump intransigence has led Democrats to take similarly extremist positions on allowing biological males to compete against biological females (something Americans overwhelmingly oppose), to lock arms against Trump’s push to keep tax rates from rising to pre-2017 levels (every Democrat in the House and Senate voted against it), and for many, to object to his strike against terrorist-backing Iran’s nuclear facilities. Americans oppose allowing biological males to compete against girls and women. RCP’s average of national polling showed Biden’s last job approval rating on the economy – which would have been devastated by the tax hike that would have occurred if Democrats had blocked keeping 2017 tax rates in place – was just 38.8%. The RCP average showed Biden’s last job approval rating on foreign policy – to which America’s support for Israel has been foundational for decades – was a mere 35.6%. Time and time again, Democrats are choosing the wrong side of lopsided issues. In doing so, they are maintaining the margin between themselves and Trump, and they are not giving Americans a plausible alternative to Trump. No alternative means giving Trump all the leverage. There is an old joke about two men encountering a lion. Terrified, the first man whispers to the other man, “What are you going to do?” “Run,” the other man whispers back. The first man responds, “Are you crazy, you can’t outrun a lion!” “I don’t have to outrun the lion,” says the second, “I just have to outrun you.” Right now, Trump is outrunning the Democrats, and the Democrats aren’t even making it a race. J.T. Young is the author of the recent book, Unprecedented Assault: How Big Government Unleashed America’s Socialist Left from RealClear Publishing and has over three decades’ experience working in Congress, the Department of Treasury, the Office of Management, and Budget, and representing a Fortune 20 company. Tyler Durden Fri, 09/05/2025 - 18:25
450 Illegal Aliens Arrested At Hyundai Battery Plant In Georgia About 450 illegal aliens were detained in a multi-agency raid at Hyundai's massive construction site for a new EV battery plant in Bryan County, Georgia. The Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), along with ICE, the FBI, and other agencies, said the workers were unlawfully employed, prompting investigations into immigration and labor violations. This highlights the need for the Trump administration to crack down on companies that hire illegals, including imposing criminal fines. ATF's field office in Atlanta wrote on X that on Thursday, "A major immigration enforcement operation at the Hyundai mega site battery plant in Bryan County, GA, leading to the apprehension of ~450 unlawful aliens, emphasizing our commitment to community safety." Today, @ATFAtlanta joined HSI, FBI, DEA, ICE, GSP and other agencies in a major immigration enforcement operation at the Hyundai mega site battery plant in Bryan County, GA, leading to the apprehension of ~450 unlawful aliens, emphasizing our commitment to community safety. #ATF pic.twitter.com/su6raLrLu6 September 4, 2025 Hyundai released a statement, quoted by Bloomberg, indicating it was aware of the mass arrests at its mega-site battery plant in Bryan County. Its partner, LG Energy Solution, said it is assessing the situation and coordinating with the Korean government and other authorities. "We are closely monitoring the situation and working to understand the specific circumstances. As of today, it is our understanding that none of those detained is directly employed by Hyundai Motor Company," Hyundai said. Bloomberg noted, "Unauthorized immigrants make up an estimated 5% of the American workforce and the widening crackdown threatens to wipe out hundreds of billions of dollars in economic output." Recall that Hyundai received tax breaks and other incentives to create jobs at the battery plant. Yet, those 450 jobs did not go to Americans, but instead to illegals who likely sent some of their wages overseas. Should Hyundai be held liable? Perhaps the Trump administration should get serious about fining employers who hire illegals and steal American jobs. Related: Illegal Alien Arrested With Arsenal Of Weapons, Ammunition, Cocaine . . . Tyler Durden Fri, 09/05/2025 - 18:00
Do Doctors Make Money Off Vaccines? A Look At Incentives And Bonus Structures Authored by Zachary Stieber via The Epoch Times, “Doctors are being paid to vaccinate, not to evaluate,” Health Secretary Robert F. Kennedy Jr. said in a recent video. “They’re pressured to follow the money, not the science.” Doctors administer dozens of vaccines to many children in the United States. Adults are also advised to receive multiple shots. Here’s what to know about vaccines and payments. What Does the Literature Say? A review of studies confirms that some doctors profit from vaccinating. In a 2020 paper, researchers found when analyzing three years’ worth of vaccination claims for five Colorado clinics that reimbursements averaged 125 percent of costs, making administering vaccines “financially favorable across the practices.” Another study found that various providers in North Carolina, when receiving the maximum payment for reimbursement from insurers or the government, profited from vaccinating patients. Even if they received the minimum payment, pediatric and family medicine practices still reported positive income, according to the 2019 study. On the other hand, other doctors say the costs of administering certain vaccines to certain people exceed the vaccine payments. In a survey of 34 pediatricians, for instance, more than half said they do not profit from vaccinating, according to a 2009 paper. A number of practitioners have also said they face escalating costs associated with vaccination, such as staffing, leading them to stop or consider stopping providing vaccines to patients with private insurance. Reimbursement for vaccinating patients varies depending on whether patients have private or public insurance. Under a program called Vaccines for Children, the government also provides vaccines to doctors for free. It does not pay for related costs, but doctors can charge an administration fee that the Centers for Disease Control and Prevention says “helps providers offset their costs of doing business,” with the maximum varying by state. A nurse prepares to give a COVID-19 vaccine to a boy as his mother comforts him in Denver on Nov. 3, 2021. Michael Ciaglo/Getty Images What About Those Bonuses? Doctors can make extra money for vaccinating under incentive programs from insurers, as highlighted by Brian Hooker, a senior scientist with Children’s Health Defense—a group Kennedy chaired through 2023—and other witnesses during a hearing in July on vaccines held by Sen. Ron Johnson (R-Wis.). “Some pediatricians can make upwards to a million or more a year just in those incentives,” Hooker said. Asked for citations, Hooker pointed The Epoch Times to documents he collected from insurance companies that list available bonuses. Links to those and other documents that outline incentives and are available online are provided below: Blue Cross Blue Shield Blue Care Network of Michigan: $400 per child who receives a set of 24 or 25 vaccine doses on or before their second birthday. Aetna Better Health of Louisiana: $10–$25 per member, depending on level of COVID-19 vaccination coverage practice-wide. Molina Healthcare of Ohio: $100 incentive for COVID-19 vaccination. Anthem Blue Cross and Blue Shield Medicaid: $50 per individual aged 6 months and older who received a COVID-19 vaccine by Dec. 31, 2022. United Healthcare Community Plan of Michigan: Incentives for patients who receive the meningococcal, Tdap (tetanus, diphtheria, and pertussis), and HPV vaccines by their 13th birthday. Meridian: Up to $120 per child who receives the 24 or 25 doses by their second birthday, or adolescents who received three certain doses by their 13th birthday, capped at $9,600 for each category. BlueCross BlueShield of Illinois: $149 for each child, if 63 percent or more meet criteria, who received the 24 or 25 vaccine doses by the time they turn 2. Central California Alliance for Health: Bonuses for children who receive at least 24 doses by the time they turn 2 and the three certain doses before they turn 13. The sets of vaccines for which providers receive bonuses are recommended by the Centers for Disease Control and Prevention. Dr. Paul Thomas, who ran a pediatric practice in Oregon, estimated in a 2021 study that he was losing more than $1 million a year by offering parents what he called informed consent, or detailed discussions about the benefits and risks of the recommended vaccines. Thomas—who surrendered his license in 2022 after the Oregon Medical Board determined that his alternative vaccination schedule posed a danger to the public—told The Epoch Times in an email that he was forced to work harder, freeze salaries, and impose an administration fee on every patient to cover income he did not receive due to administering fewer vaccines than many practices. Thomas has said he was unfairly targeted, in litigation denied by courts that found the board is protected by “absolute immunity.” People attend an American Academy of Pediatrics (AAP) conference in Anaheim, Calif., on Oct. 8, 2022. AAP, as well as some other groups and doctors, have said physicians are not motivated by money when vaccinating patients. John Fredricks/The Epoch Times “It would be near impossible for current pediatric practices to survive if not clearly impossible if they were to suddenly lose half or all their vaccine income, not to mention the catastrophic nature of loss of ‘quality’ bonuses,” Thomas said. Dr. Renata Moon, who sits on the board of directors for the American College of Pediatricians, said that her former employer in 2020 started tracking the vaccination rate for patients. She was unable to determine why and said she would not be surprised if they were receiving compensation. “It is unethical for physicians to receive bonuses or monetary compensation for pushing the products of pharmaceutical companies. It’s a massive conflict of interest!” Moon told The Epoch Times via email. “Do they have the patient’s best interest at heart or are they focused on their bank accounts?” What Do Other Doctors Say? The American Academy of Pediatrics (AAP), as well as some other groups and doctors, have said physicians are not motivated by money when vaccinating patients. “Pediatricians do not profit off vaccines,” the AAP said in a July 16 post on X. The organization declined to make one of its experts available for an interview on the topic. When a spokeswoman was sent studies, including multiple published by the AAP’s journal Pediatrics, that show some pediatricians have made money from vaccinating, she pointed to an AAP webpage that states “pediatricians recommend childhood vaccines because they are one of our most effective tools to help keep children healthy and prevent diseases from spreading in communities.” It also states, “pediatricians often take on significant costs to provide the vaccinations their patients need, and the minimal payments they receive do not always cover these costs.” Among the costs, the group said: purchasing vaccines and storing them. Dr. Todd Porter, a pediatrician employed in Illinois for a multi-specialty physician-led organization, said that he has not paid attention to whether he makes money from vaccinating children. Doses of H1N1 influenza vaccine sit in a basket at Rush University Medical Center in Chicago on Oct. 6, 2009. Scott Olson/Getty Images “I have to surprisingly side with the AAP on this one even though I no longer support the AAP on just about everything else,” Porter told The Epoch Times in an email. “As a pediatrician, my recommendation of routine childhood vaccines has nothing to do any reimbursement my office may receive and again I can honestly say I have no working knowledge of what that reimbursement would be.” Porter says he has been motivated for the more than 20 years he has worked as a doctor to provide vaccines to minimize vaccine-preventable disease. He has never recommended the COVID-19 vaccines and believes the CDC and AAP did not provide adequate details around the risks and benefits of the shots. “I have become a bit uncertain about the risk/benefit of each of the vaccines. I still would recommend these historical routine childhood vaccines, but with the growing vaccine hesitancy amongst parents I do not push them,” he wrote. “I also have stopped generally recommending the influenza vaccine until I see more rigorous data to show that it really works.” Vaccination rates among kindergartners have declined in recent years, and a third of parents in a recent survey said they would be refusing some or all vaccines for their children. Kennedy’s Statements Kennedy has spoken several times recently about the payments for vaccinations. During an interview released in June with political commentator Tucker Carlson, he mentioned an article stating half of the revenue for most pediatricians comes from vaccines. The Department of Health and Human Services did not respond to a request for that alleged article. “And then there’s a whole structure where Blue Cross and the other insurance companies pay bonuses to the pediatrician ... and that’s why your pediatrician, if you say, ‘I want to go slow on the vaccines,’ or, ‘I want to have a little different schedule,’ your pediatrician will throw you out of his practice because you’re now jeopardizing that bonus structure,” Kennedy said. “And these are all perverse incentives that stop doctors from actually practicing medicine and caring for the client because they’re looking at the bottom line.” Twenty-one percent of pediatricians told surveyors that they dismissed families who declined one or more vaccines, Dr. Sean O'Leary, the current chair of the AAP Committee on Infectious Diseases, reported in a 2015 study. A 2020 review co-authored by O'Leary found evidence that dismissing families “appears to be increasing as a strategy for dealing with vaccine refusal.” A form dismissal letter offered to doctors by the AAP states, “It has become clear that our philosophies regarding medical care differ greatly.” The letter directs parents to arrange for medical care for their children elsewhere. Health Secretary Robert F. Kennedy Jr. testifies on Capitol Hill in Washington on June 24, 2025. Madalina Kilroy/The Epoch Times O'Leary and other AAP officials said in a 2024 report that there are ethical issues about dismissing families, including whether doctors have a responsibility to care for all patients who come to them, Dismissal, they wrote, “can be an acceptable option ... after repeated attempts to help understand and address parental values and vaccine concerns, engender trust, and strengthen the therapeutic alliance.” Kennedy added in the X video on Aug. 8 that “we’re scanning every corner of the health care system for hidden incentives that corrupt medical judgment” and that officials had found “doctors are being paid to vaccinate, not to evaluate.” He said that officials discovered that more than 36,000 doctors had reimbursements from Medicare altered based on the vaccination rates of children in their practices. The video was released as Kennedy announced officials were repealing a previous policy that favored hospitals that reported the vaccination rates of staff members. “Doctors should be guided by medical judgment and their Hippocratic Oath, not by financial incentives or government mandates,” Kennedy said. “That’s what this policy change is about, and it’s just the beginning.” Tyler Durden Fri, 09/05/2025 - 17:40
California To Spend $239 Million Turning San Quentin Into "Scandinavian-Style Rehab Center" California is spending $239 million to transform San Quentin State Prison into what Gov. Gavin Newsom’s office once called the state’s “most notorious prison” into a Scandinavian-style rehabilitation center. Construction is set to finish in January 2026, with the first incarcerated people moving in soon after, according to the San Francisco Chronicle. The Chronicle writes that the plan dates back to Newsom’s 2018 election, when he halted executions, began dismantling Death Row, and ordered transfers of San Quentin inmates. In 2023, he unveiled a full-scale conversion into a Nordic-inspired campus aimed at preparing prisoners for life outside. Modeled after systems in Norway, Denmark, and other Nordic countries, the project emphasizes rehabilitation through work, education, and “normalizing spaces” such as a self-service grocery store, café, farmers market, and podcast studio. Prisoners will have single rooms, reducing San Quentin’s population from 3,400 to about 2,400. “The holistic initiative leverages international, data-backed best practices to improve the well-being of those who live and work at state prisons,” said Todd Javernick, a spokesperson for the Department of Corrections and Rehabilitation. He added the goal is “creating safer communities and a better life for all Californians, by breaking cycles of crime for the incarcerated population, while improving workplace conditions for institution staff.” The state hired Danish architecture firm Schmidt Hammer Lassen and convened an advisory council of reform advocates, which recommended measures like making “good nutrition foundational to the San Quentin experience.” Supporters hope the California Model will serve as a national blueprint, but critics argue the money should instead go to crime victims. Families of incarcerated people also worry transfers will send loved ones far from spouses and children. San Quentin has already shifted from maximum to medium security, allowing in prisoners deemed lower-risk. Officials also note that closing Death Row reduces costs, as housing death-sentenced inmates can be twice as expensive. The redesign includes three new buildings for media production, coding classrooms, a large multipurpose hall, café, and store. Tyler Durden Fri, 09/05/2025 - 17:20
Quinn: WW3 Is Inevitable, Compromise Isn't An Option During 'The Fourth Turning' Authored by Jim Quinn via The Burning Platform blog, Fourth Turnings never fizzle out. They build to a crescendo of death and destruction. Is there any indications whatsoever that we are not on a course towards all-out war? How it started... "We gave categorical assurances to Gorbachev that if a United Germany could remain in NATO, NATO would not be moved Eastward" Jack Matlock, US Ambassador to the Soviets 1987-1991 speaking 30 years ago. "We gave categorical assurances to Gorbachev that if a United Germany could remain in NATO, NATO would not be moved Eastward" Jack Matlock, US Ambassador to the Soviets 1987-1991 speaking 30 years ago NATO did, however, move Eastwards towards Russia, and the rest is history pic.twitter.com/21EjyDetYm September 3, 2025 NATO did, however, move Eastwards towards Russia, and the rest is history How's it going? Professor Jeffrey Sachs explains: Now, we have the return of the most primitive kind of Russophobia imaginable. So Europe meets, as, as you note, every two or three days in terror of Russia with these fools around the table, without talking to the Russians at all. If you just watch these people, they don't know anything, and they don't want to learn anything, and they don't want to hear anything. And especially, in Europe, the most desperate thing is, for God's sake, don't talk to the other side. It may be a little annoying. And so we actually have a spectacle of grown people like Starmer, Merz, Macron, grown people that won't even have ... a discussion with President Putin. Professor Jeffrey Sachs "FIRED" Starmer, Merz & Macron Now, we have the return of the most primitive kind of Russophobia imaginable. So Europe meets, as, as you note, every two or three days in terror of Russia with these fools around the table, without talking to the Russians… pic.twitter.com/GVUrNc69uy September 4, 2025 And what happens next? Dmitry Medvedev: "The United Kingdom has sent Ukraine $1.3 billion obtained as profit from the use of frozen Russian assets. This was said by the English idiot Lammy. Well, this means one thing: British thieves have handed over Russian money to the neo-Nazis. The consequences? Britain has committed an offense, and Russia has, as lawyers say, a claim against it and the current Banderite Ukraine. But considering that these funds cannot be recovered through legal proceedings for obvious reasons, our country has only one way to reclaim the assets. To return what was seized in kind. That is, with "Ukrainian land" and other real estate and movable property located on it. (I am obviously not talking about the lands of the new Russian regions, they are already ours.) So any illegal seizure of arrested Russian funds or income from them must be converted into additional territories and other property of country 404. Or by confiscating the valuables of the British Crown. There are still enough of them in various places, including those located in Russia." The path has been set on the Fourth Turning - it's now when not if. Tyler Durden Fri, 09/05/2025 - 17:00
The Power-Bill Crisis Keeps Energy Secretary Wright Up At Night Weeks after Energy Secretary Chris Wright told Glenn Beck that the power-bill crisis would last for "a few years," America's top energy official told Fox Business on Tuesday that rising electricity costs remain his top concern. "It's what I worry about most seven days a week," Wright told Fox Business' Maria Bartiromo. "We want to stop the rise in electricity for Americans and reshore jobs and opportunity there." The Trump administration is racing to restore and expand stable fossil-fuel power generation (see the EO), after parts of the nation's grid were left in a fragile state by the Biden-Harris regime's unreliable green-energy policies, amid surging power demand from data center buildouts - all in an effort to compete with China. In mid-August, Goldman analysts led by Hongcen Wei told clients, "We find that 9 out of 13 US regional power markets have already reached critical tightness this summer, while expecting all but one to reach critical tightness by 2030." Wei warned: "Critical tightness could lead to power price spikes and blackouts with significant social and economic losses." By the end of the summer, nine of the 13 U.S. regional power grids have already reached dangerously low spare capacity levels, which are at or below the critical reliability threshold. This raises blackout threats and results in power price spikes during high-demand usage hours. This tightening is most evident in the Mid-Atlantic region... The epicenter of the power crisis is in Maryland. Bloomberg suggested earlier that the power bill crisis could become a political liability for Republicans ahead of the midterms. However, the real-world example playing out in Maryland shows it's hurting Democrats bigly. Maryland Democrats are pointing fingers at the regional grid operator. Still, it was their own party that spent years championing unreliable solar and wind while retiring coal plants, leaving the grid in a state of chaos - on the brink of collapse last month (read here). Now comes the informational war used by both parties that will blame each other for the power bill mess. In one year, this will be the most popular chart on this site pic.twitter.com/h93gWXMoNL August 11, 2025 Wright told Congress earlier this year that solar and wind subsidies have been disastrous for the grid. Lobbyists' worst nightmare: 4 minutes of Energy Secretary Chris Wright telling Congress why solar and wind subsidies must be terminated ASAP. pic.twitter.com/GlBNv75pDp June 11, 2025 Recently, Wright told Fox Business about Trump's plan to add "more energy to the grid." Sec. Chris Wright: "For 30 years... we've paid people to build intermittent sources that only work when the wind's blowing or when the sun's shining. The more of that you put on the grid, the more expensive electricity becomes for Americans."pic.twitter.com/P0iXZKlFMj July 2, 2025 . . . Tyler Durden Fri, 09/05/2025 - 16:40
The Grifters' Lament Authored by James Howard Kunstler, "We are the sickest country in the world. That's why we have to fire people at the CDC ... They did not do their job! This was their job to keep us healthy!" - Robert F. Kennedy, Jr. What a gruesome spectacle it was to see HHS Secretary Robert F. Kennedy, Jr. take on a conclave of vicious grifters on the Senate Finance Committee straining to warp reality in defense of their mighty patron, the nation-wrecking pharmaceutical companies. Do you understand how deep, convoluted, and grave the political sickness is? Over the years, the public health agencies and “big pharma” had evolved into a symbiotic vector driving the nation into chronic illness. They allowed the population to poison themselves on a diet of corn syrup, engineered snack foods, and chemical additives. Result: epidemic obesity, diabetes, and many other illnesses. To counter that, they dosed everybody to-the-max with sketchily-tested pharma products while the agency employees raked in royalties and pharma got a get-outa-jail-free card in the 1986 National Childhood Vaccine Injury Act (NCVIA) — legal liability cancelled. Then, they all badly mis-stepped, conniving in the Covid-19 operation, a still poorly-comprehended scheme to punk the American people and enable mail-in ballot fraud to steal the 2020 election. First, there was Dr. Fauci’s years’ long effort to hatch a novel corona virus, Covid-19, in labs here and overseas. Then, there was the opportune release of the virus in 2019. Then, the pharma response to the virus: a “miracle” mRNA vaccine that was likely already developed in secret, even before Operation Warp Speed was acted-out to pretend that pharma just came up with it. And, of course, there was President Trump 1.0 getting hosed by his Covid Response Team (Fauci, Birx, et al.) on all this. Thus, you have that battery of US Senators all paid handsomely by Pharma to defend the industry with hysterical obfuscation against the lone figure, Mr. Kennedy, striving to correct all that fantastic corruption. He retorted to their malign nonsense honorably, revealing their conflicts of interest, their cupidity, the bales of dollars paid by pharma to the likes of Elizabeth Warren, Bernie Sanders, and the rest over the years, and their longstanding silence on the afore-mentioned poisoning and drugging of America. Incidentally, to understand how this grift got so exorbitant, look to the unfortunate 2010 Supreme Court decision Citizens United v. Federal Election Commission (558 U.S. 310). In a 5-4 ruling (by majority conservative justices, then including Alito, Thomas, and Scalia), SCOTUS decided that previous prohibitions on corporate money in election campaigns were unconstitutional because corporations enjoy legal status as persons, that is, as citizens, and giving money to election campaigns is a form of free speech under the first Amendment, which can’t be abridged by any law. And so, the spigot opened on vast fortunes laid on politicians by corporations seeking to protect their interests. If anything went to warp speed, it was the Beltway lobbying industry. The Citizens United decision was a singular tragedy for our country. The legal reasoning behind it was specious because corporations, unlike real human citizens, do not have duties, obligations, and responsibilities to the nation, entailed in their citizenship. Rather, corporations have duties, obligations, and responsibilities solely (and explicitly in law) to their shareholders, whose interests are not necessarily consistent with the public interest. Why has no one noticed this? Well, they haven’t and that is exactly where American politics went badly off-the-rails. The resulting accelerated corruption in the public health agencies of our government has been a disgusting side effect of all that, which RFK, Jr., has been called to clean up, a Herculean task. The most visible manifestation of that corruption is the chronic illness of the people — 76.4 percent of all of us, he told the committee, with eight out of ten young men physically unfit for military service. We’re the sickest nation in the world. When the senators confabulate over “the science,” what they really mean is the armature of medical authority that has enabled the money-flow to their campaign committees (and eventually to their own bank accounts.) It’s that very scaffold of authority that has collapsed. Why? Because the medical authorities lied over and over about the Covid-19 episode, and especially about the vaccines, which were never properly tested, and were neither safe nor effective. Your own doctors got paid extravagantly to push the vaccine. The so-called Pfizer Papers, collected, collated, and analyzed by Naomi Wolf’s organization (because nobody else would do it) showed the sloppiness of the whole process behind the vaccines’ development and release, and the pharma companies’ evasion of responsibility for the damage done. The medical journals lied about everything from the origin of the virus to the efficacy of the vaccine. The CDC campaigned against viable, inexpensive treatments for the virus. The CDC pushed the worthless, gamed PCR tests to jack up the case numbers. The CDC pushed the idiotic mask rules, school closings, business closures, and the vaccine mandates. The hospitals killed people with remdesivir and respirators, and got paid for it! The authority of all these parties is blown, especially the CDC’s — and these perfidious senators have the gall to hide behind this “science”? What Mr. Kennedy is challenged with is sorting through all the official lies told by these agencies — the so-called “data” — to arrive at a comprehensible picture of what really happened. And then to inquire beyond Covid into many other pharma products that might be making Americans sick. Neither the politicians nor the people employed by the agencies when Covid went down want that to happen. Tyler Durden Fri, 09/05/2025 - 16:20
Tether, El Salvador Deepening Ties To Gold, The 'Natural Bitcoin' Authored by Vince Dioquino via Decrypt.co, Stablecoin issuer Tether has held talks on investing in gold miners and royalty firms, after already acquiring $8.7 billion worth of bullion. Meanwhile, El Salvador bought nearly 14,000 ounces of gold for $50 million, its first central bank purchase since 1990. Tether CEO Paolo Ardoino has previously described gold as “natural Bitcoin,” and suggested in a separate interview that if a global “reset” were to occur, it would “happen in gold.” Tether, the world’s largest stablecoin issuer, has reportedly been in discussions with mining and investment groups to deploy billions into the gold industry, according to a Financial Times report late Thursday. The talks reportedly span mining, refining, trading, and royalty companies, following chief executive Paolo Ardoino’s view of gold as “the natural Bitcoin.” “I prefer to think in Bitcoin terms, and I think gold is kind of a resource of nature and is almost like the natural Bitcoin,” Ardoino said onstage at the Bitcoin 2025 conference back in May. Tether is also moving to deepen its role in the sector, planning to spend about $100 million more to increase its previous 37.8% stake in Toronto-listed Elemental Altus Royalties, a Canadian firm that buys future revenue streams from gold mines, according to a report from Bloomberg early Friday. "Access to capital is one of the key constraints in the royalty and streaming business; Tether’s support is fully aligned with our growth strategy," David Baker, CFO at Elemental Altus Royalties, said in a statement shared with Decrypt. He added that, "Since their first investment in June, Tether has been very supportive of the company and management," noting that prior to the merger announcement the firm had announced almost $70 million of gold royalty acquisitions in Australia and Liberia. Tether is already among the world’s biggest private holders of the metal. The company disclosed $8.7 billion in gold bars held in a Zurich vault in its Q2 2025 attestation report, collateralizing part of its operations. In 2020, the firm launched Tether Gold, a gold-backed stablecoin backed by more than 7.7 tons of the precious metal, according to an April 2025 attestation report by accounting firm BDO Italia. Tether did not immediately return Decrypt's request for comment. El Salvador’s first gold buy in 35 years Tether’s gold push comes as Banco Central de Reserva, El Salvador's central bank, announced its first bullion purchase in 35 years, buying 13,999 troy ounces for $50 million, raising the country’s holdings to 58,105 ounces, worth an estimated $207 million. The central bank characterized the purchase as a diversification play for its $4.7 billion in foreign reserves, according to a syndicated report from Agencia EFE. El Salvador has already accumulated more than 6,200 bitcoin, now valued at over $706 million based on current prices, according to data from Bitcoin Treasuries. Earlier this week, the country’s Bitcoin Office confirmed that it has moved its crypto holdings to new addresses, following security concerns. These moves suggest that large sovereign Bitcoin holders, such as El Salvador, and major crypto industry names, including Tether, are beginning to frame gold as a complementary hedge, treating it less as a rival asset and more as a partner in diversification strategies. A source working on Tether's regional expansion efforts declined to comment, citing internal policies, and instead directed Decrypt to Ardoino’s interview with Anthony Pompliano in August, where he argued that gold could be viewed as a counterweight to fiat, not a rival to Bitcoin. In the interview, Ardoino suggested traders might choose to rotate into bullion at cycle peaks, given its 6,000-year history and scale as a reserve asset. “There is time for everything, and I think that when [...] if the world will go to hell in the next 5 years, there’s good chances that part of the reset will happen in gold,” Ardoino said. Tyler Durden Fri, 09/05/2025 - 15:45
Akin To Damaging 'Brand USA': Bessent Exposes Cracks In Fed's So-Called 'Independence' Amid all the hair-pulling and teeth-gnashing over President Trump's 'firing' of Fed Governor Lisa Cook (for alleged mortgage fraud), the market seems increasingly complacent that The Fed's holier-than-thou independence is under threat. For its part, the market shows no fear whatsoever about USA sovereign risk... Perhaps the market doesn't believe the hype that Fed 'independence' is actually under threat by the president's actions... or perhaps, the market knows full well that The Fed has never been truly independent, and the temper tantrums being thrown by establishment types is merely the vinegar strokes ending the delusion that maintains The Fed's unquestionable omniscience? First things first though, we need to know what's at stake and no one has described the shifts in perceptions of Fed independence better recently than Citadel Securities' Nohshad Shah: RESERVE CURRENCY STATUS, GLOBAL LEADERSHIP IN TECH INNOVATION, THE WORLD’S BEST ACADEMIC INSTITUTIONS, BEING A MAGNET FOR GLOBAL TALENT…AND CRUCIALLY, THE RULE OF LAW WITH INDEPENDENT INSTITUTIONS…HAVE COMBINED TO ENSURE THAT THE US HAS BEEN THE MOST COMPETITIVE PLACE ON EARTH TO DO BUSINESS AND GROWTH HAS EXCEEDED MOST OF THE DEVELOPED WORLD BY A WIDE MARGIN…OTHERWISE KNOWN AS “US EXCEPTIONALISM”. A core part of this construct is the independence of the Federal Reserve, and this remains sacrosanct in the minds of global investors. There is concern amongst market participants that President Trump’s recent move to fire Fed Governor Lisa Cook could be an attempt to garner greater influence over central bank policy. Whilst the merits of the case will surely be analysed thoroughly by the courts, markets are uneasy about the broader emphasis of this Administration on Unitary Executive Theory…the constitutional doctrine that the US President holds sole absolute authority over the entire executive branch including all federal agencies, departments, and officers…and the power to remove any executive branch official at will. Proponents of this doctrine argue it is vested in the President from Article II of the Constitution and that other branches of government (including Congress and Courts) should not limit or interfere with Presidential Authority, thereby ensuring maximum accountability…ultimately to voters. Of course, as with much of US public discourse, this is a contentious issue with critics warning that it concentrates too much power in one seat undermining checks and balances, risking authoritarianism. In the near-term, should the President succeed in removing Cook, he would be appointing two new governors (including Miran), which when you include Governors Waller and Bowman, takes him to a majority of four out of seven on the Board aligned with his views. Not only does this have an impact on upcoming FOMC decisions, but it allows Trump to re-shape the entire FOMC given the Board must reappoint all regional Fed presidents in February next year. However, there are several obstacles. First, it is unclear if Cook’s firing will stand – the President can fire a Fed member for “cause”, but there remains uncertainty around whether the mortgage fraud allegations made against Cook meet this definition: negligence of duty, inefficiency, or malfeasance. Friday’s initial hearing of the case ended without a ruling – we will learn more in coming days. There is also a broader executive authority consideration for the Supreme Court, which in May allowed the President to fire two members of the NLRB, asserting that agencies exercising “considerable executive power” fall closer to Article II authority in a boon to unitary executive theory… BUT…earmarking the Federal Reserve as a “uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States” suggesting a carve out of sorts for the Fed due to it being a constitutionally exceptional institution with roots in the country’s earliest banking history. Interestingly, Justice Kavanaugh has written approvingly of the Fed’s independence in the past (h/t Brooke Cucinella): “To be sure, in some situations it may be worthwhile to insulate particular agencies from direct presidential oversight or control—the Federal Reserve Board may be one example, due to its power to directly affect the short-term functioning of the U.S. economy by setting interest rates and adjusting the money supply.” (Brett M. Kavanaugh, Separation of Powers During the Forty-Fourth Presidency and Beyond, 93 Minn. L. Rev. 1454, 1474 (2009)). So even with SCOTUS’ broader embrace of unitary executive doctrine, we remain in murky waters as to where this issue lands. Second, whilst Governors Waller and Bowman are currently firmly in the dovish camp, this was certainly not always the case…indeed when inflation surged in 2021, Waller was an early proponent for tightening monetary policy pushing for both tapering asset purchases and aggressive rate hikes in 2022. Similarly, Bowman’s stance until late 2023 was hawkish. The point here is that whilst there might be short-term incentives to be dovish given the backdrop of Chair selection, both are seasoned professionals with a track-record of public service…so if the economic growth and inflation picture shifts (as I expect), so should their monetary policy views. And finally, regarding the election of regional fed bank presidents…the Board of governors does indeed have an effective veto on appointments, but it will not be trivial to exert influence upon each of the 12 regional bank boards of directors, with a total of 6 per board (72 directors in total, most of them public representatives) required to affect the selection process. In sum, I expect this to be an ongoing saga to be played out in the courts in coming months whilst remaining a source of uncertainty and volatility for asset prices. ANY EROSION OF FED INDEPENDENCE WILL HAVE UNTOLD IMPLICATIONS FOR THE US AND GLOBAL ECONOMIES… ...and this is starting to play out in market pricing…1y1y USD forward swaps are 3.02%, priced for a return of policy rates back to what most consider neutral…something I would consider to be a dovish outcome, given the current backdrop for the US economy (unless the labour market collapses in coming months)…and yet 10y10y forward swaps have risen to 4.66%, the highest in over a decade (chart below). This likely reflects a level of concern from bond markets around deficits (which continue to rise)….inflation (above target and at-risk of rising w/tariff effects)…and risk premium for Fed independence. It also serves as a reminder for policymakers that the economy is most impacted by the long-end rate not the short-end (10x multiplier for FCI). Whilst these levels are still within acceptable ranges, one need only look over the pond at the UK to see what happens when investors are perennially concerned about governments’ ability to manage the fiscal outlook…30y Gilt yields (5.60%) have been rising consistently for four years now and have risen over 100bps since July 2024 when the BOE started cutting policy rates from 5.25% to 4.00%! Perhaps the biggest sign for US policymakers should be the ~13% depreciation of the US dollar against EUR this year, far outpacing what interest rate differentials would suggest. All told, the risks of damaging Fed independence are akin to damaging Brand USA and the medium-term implications are likely to be wide-ranging and uncertain…not to mention the consequences of allowing inflation to spiral out of control. Inflation credibility has been hard won by central banks across the developed world, most notably in the 1970s. In their most recent fight, the majority have been unable to bring inflation back to target reflecting wide ranging changes in the global economy…most importantly the introduction of pro-cyclical fiscal policy (despite large deficits) and a partial unwind of globalisation. This does not seem like an opportune time to lose control of this mandate. But, what if The Fed is already un-independent? No lesser authority than Treasury Secretary Scott Bessent has just this day unleashed his sword pen in a Wall Street Journal Op-Ed, "The Fed’s ‘Gain of Function’ Monetary Policy", pointing out that the central bank put its own independence at risk by straying from its narrow statutory mandate. In the lengthy op-ed, Bessent critiques the Fed’s post-2008 monetary policies, comparing them to a risky "gain-of-function" experiment with unpredictable outcomes. He argues that The Fed’s over-use of complex, nonstandard tools, mission creep, and regulatory overreach have undermined its independence, credibility, and effectiveness. The most notable aspects of The Fed's failures include: Failed Forecasts: The Fed’s over-reliance on flawed models led to significant errors, like overestimating GDP growth post-2008, missing the impact of supply-side policies, and fostering inequality through a wealth effect that favored asset owners. Economic Inequality: Policies like quantitative easing disproportionately benefited large firms and homeowners, widening class and generational gaps, as noted in Karen Petrou’s book: "Engine of Inequality". Eroded Independence: The Fed’s expanded role in fiscal-like interventions, Treasury debt management, and bank regulation (e.g., post-Dodd-Frank) has blurred lines between monetary and fiscal policy, creating conflicts of interest and enabling fiscal irresponsibility. Regulatory Failures: The 2023 Silicon Valley Bank collapse highlights the risks of combining monetary policy with bank supervision, which should be delegated to agencies like the FDIC. Bessent concludes by stating that The Fed’s overreach has caused economic distortions, inequality, and a loss of credibility, threatening its independence. It must scale back and recommit to its core mandate to ensure economic stability and public confidence. Bessent's suggestion is that The Fed should simplify its toolkit, use unconventional policies only in emergencies, and undergo an independent review to refocus on its mandate of maximum employment, stable prices, and moderate interest rates. This is critical to restore public trust and safeguard its independence. Tyler Durden Fri, 09/05/2025 - 15:25
New York AG Asks Appeals Court To Reinstate Trump's $500 Million Civil Fraud Penalty Authored by Matthew Vadum and Sam Dorman via The Epoch Times, New York Attorney General Letitia James filed an appeal on Sept. 4 of a court ruling that threw out an estimated $500 million penalty in President Donald Trump’s business fraud case. James’s office filed a notice of appeal with the New York Supreme Court in Manhattan, indicating an appeal was being launched with the state’s highest court, the Court of Appeals of the State of New York, on behalf of the state. The brief notice does not spell out arguments from James as to why the appeal should be allowed. The filing came after a ruling on Aug. 21 by the New York Appellate Division’s First Judicial Department, a branch of the New York Supreme Court, tossed the penalty in a fractured ruling but left the civil judgment against Trump undisturbed. The case concerned allegations that the Trump Organization was involved in financial fraud by misrepresenting property values. The trial judge, New York Supreme Court Justice Arthur Engoron, ruled against Trump in February 2024, issuing a judgment of more than $460 million, with interest accruing. Trump posted a bond of $175 million, and the appeals process moved forward in the New York Appellate Division’s First Judicial Department. The Appellate Division affirmed the judgment issued by Engoron, but the panel of five judges was divided, filing three separate opinions, including partial dissents. Two of the jurists—Justices Peter Moulton and Dianne Renwick—said they thought James “acted well within her lawful power in bringing this action, and that she vindicated a public interest in doing so.” However, both disagreed with the high-dollar penalty. Moulton said in a concurring opinion that the lower court’s penalty order “is an excessive fine that violates the Eighth Amendment of the United States Constitution.” Justices John Higgitt and Llinet Rosado joined an opinion saying Engoron’s judgment should be vacated and a new trial ordered. Justice David Friedman criticized James, saying she was focused on “political hygiene, ending with the derailment of President Trump’s political career and the destruction of his real estate business.” He said that the court’s ruling “unanimously derails the effort to destroy his business.” Trump hailed the Appellate Division ruling in an Aug. 21 post on Truth Social, saying he achieved “total victory” and that he was “so honored by Justice David Friedman’s great words of wisdom.” James lauded the Appellate Division ruling when it came out. “The First Department today affirmed the well-supported finding of the trial court: Donald Trump, his company, and two of his children are liable for fraud,” she said on X. “The court upheld the injunctive relief we won, limiting Donald Trump and The Trump Organization officers’ ability to do business in New York.” It is unclear when the Court of Appeals of the State of New York will act on the appeal. Tyler Durden Fri, 09/05/2025 - 15:05
Trump Deploys F-35s To Puerto Rico Airfield After Pair Of Venezuelan Jets Buzz US Warship The Pentagon has warned Venezuela after two of its miliary aircraft buzzed a United States Navy ship in international waters, as an apparent show of force after a US naval build-up in the region. The pair of warplanes, identified in various media as F-16 jets, flew over over the guided-missile destroyer Jason Dunham in the southern Caribbean Sea on Thursday, and while the US ship did not engage the aircraft, a subsequent Department of Defense statement called it "highly provocative" and "an attempt to interfere with our counter-narco-terror operations." US Navy file image "Today, two Maduro regime military aircraft flew near a US Navy vessel in international waters," the Pentagon said in a post on X. "The cartel running Venezuela is strongly advised not to pursue any further effort to obstruct, deter or interfere with counter-narcotics and counter-terror operations carried out by the US military," the Pentagon said. This was clearly President Maduro's response to Tuesday's US strike on an alleged drug trafficking speedboat in the same waters and general posture of saber-rattling. President Trump says the blown-up boat belonged to a criminal organization tied to Maduro, and the rare military action resulted in the deaths of eleven people. However, some international monitors have noted that if those slain were civilians, this amounts to an extra-judicial killing, also given there was no apparent attempt to intercept the vessel or arrest those aboard. This is likely what's behind the sudden frequent use of the term 'narco-terrorists' by the US administration. The sudden terror pretext and label makes it easier to justify direct military action in front of the American people, who have become generally wary of the potential for new, unnecessary wars and foreign adventurism abroad - even if in Latin America. Maduro has ordered a heightened defense posture due to the US sending some eight naval ships, with Venezuela’s Noticias Venevision news outlet quoting him as saying it is the "first time in history that the communal units of the militia will be activated, spanning the national map from north to south, from east to west, down to the last community." Are they gonna use this as a pretext to bomb Venezuela? https://t.co/xFWtcOIzBz September 5, 2025 But the White House is answering further by deploying even more assets near Venezuela in the dangerous environment of rising tit-for-tat tensions. President Trump has newly ordered ten F-35 fighter jets to be deployed to Puerto Rico, the American territory and Caribbean archipelago, in what's becoming (or rather, being sold to the public) an all-out Pentagon war on drug cartels. Reports say the advanced aircraft will be in position by week's end. They will join the at least eight warships and one nuclear-powered fast attack submarine to the eastern Caribbean, which are also there. Just ahead of this new jet deployment, Trump warned after hitting the drug boat, "Please let this serve as notice to anybody even thinking about bringing drugs into the United States of America." What's really going on here? One trend being reflected, as we've long previewed, is that President Trump's worldview is for greater coordination of national and hemispheric defense across the Americas, hence the push for stronger economic integration between the United States and Canada, coupled with a hardened defense perimeter stretching from the Arctic to the Panama Canal. Monroe Doctrine on steroids? But this surge in major defense assets off Venezuela's coast could also more likely be about renewing regime change efforts targeting Caracas, after some apparent failed externally-backed coup efforts which happened during Trump's first term. After all, the 'war on drugs' is a losing proposition in the historic US policy playbook (and ironically the CIA was a hidden hand which helped fuel drugs on American streets), given it had been on for past many decades, and deploying warships and stealth jets is hardly the right tool set for something the DEA and Coast Guard have conventionally done. They are lying about Venezuela because they want regime change and to strip the country's natural resources. It's really not that complicated. They lie. About everything. https://t.co/iU4jSLRhuR September 4, 2025 There's also the question of to what degree one takes seriously the US administration's claims concerning Maduro and his socialist country's role in shipping dangerous substances into the United States. Why not a force concentration against the Mexican drug cartels instead - or at least in parallel? Of course, Mexico is not home to the world's largest known reserves of oil, as Venezuela is, and consideration of what's really going on can't happen without that key fact front and center. Tyler Durden Fri, 09/05/2025 - 14:45
Justin Sun Urges Trump-Linked WLFI To Unlock 'Unreasonably' Frozen Tokens Authored by Zoltan Vardai via CoinTelegraph.com, Tron founder Justin Sun is urging World Liberty Financial (WLFI), a crypto project linked to the Trump family, to unfreeze his token allocation. His wallets were blacklisted after suspicious transactions flagged by blockchain trackers sparked accusations of selling. Sun’s World Liberty Financial (WLFI) token address was blacklisted on Thursday, after blockchain data from Nansen and Arkham flagged the address for a $9 million transfer, Cointelegraph reported. In a Friday response to the blacklisting, Sun said his pre-sale tokens were “unreasonably frozen,” urging the team behind World Liberty Financial to unlock his investment, in respect to the principles of decentralized blockchain technology. World Liberty’s decision to block his tokens is a violation of investor rights and risks “damaging broader confidence in World Liberty Financial,” wrote Sun in a X post, adding: “I call on the team to respect these principles, unlock my tokens, and let’s move forward together toward the success of World Liberty Financials.” “Tokens are sacred and inviolable—this should be the most basic value of any blockchain. It’s also what makes us stronger and more fair than traditional finance,” added Sun. Source: Justin Sun Sun was among the first investors to join the Trump family-linked WLFI pre-sale, and said that he was looking to hold the tokens long-term. Sun “stated he will not be selling soon (his words) and is creating yield on HTX for WLFI deposits — plus minting $200M USD1 on Tron to power the ecosystem,” wrote the WLFI platform in a Tuesday X post, referencing Sun’s earlier statement. Source: WLFI “Justin and the WLFI team are in active communication about this matter,” a spokesperson for Justin Sun previously told Cointelegraph. Justin Sun moved $9 million of WLFI to HTX: Bubblemaps The blacklisting occurred shortly after Sun had started moving WLFI tokens to the HTX cryptocurrency exchange. “Justin Sun moved $9M of his still-unlocked $WLFI to HTX. In total, he sent $10M to CEXs over the past 3 days,” wrote Bubblemaps in a Friday X post. Source: Bubblemaps Other crypto analysts have also suggested that Sun was selling his allocation, despite earlier promises. “If Justin Sun really lured in WLFI tokens from HTX users with a 20% APY to lock them, and then sell them to get out of ‘his’ own position while they’re still unvested, then he deserves to get his account frozen,” wrote Quinten François, cryptocurrency analyst and the co-founder of social decentralized application weRate, in a Friday X post. Others, including Nansen crypto intelligence platform founder Alex Svanevik, contend that Sun has not been selling his allocation. Source: Alex Svanevik “At first, it (an AI agent) thought @justinsuntron caused the dump. Then I asked it to scrutinize the timestamps. Conclusion seems to be: he did not,” wrote Svanevik in a Friday X post, referencing his conversation with the Nansen AI agent. Still other industry analysts allege that Sun circumvented HTX to end up selling via the Binance exchange instead. “A Binance deposit wallet connected to Justin Sun received over 60 million WLFI tokens worth $12M yesterday from HTX,” according to Conor Grogan, head of product at Coinbase exchange. “The 60M WLFI deposit represents about 52.6% of HTX’s total WLFI holdings at present from what I can find onchain based on HTX’s public wallets,” Grogan said in a Thursday X post. Tyler Durden Fri, 09/05/2025 - 14:25
Kenvue Craters On Report RFK Jr To Link Autism To Tylenol Use In Pregnancy The stock of Tylenol maker Kenvue is crashing after a WSJ report according to which Robert F. Kennedy Jr. plans to announce that pregnant women’s use of an over-the-counter pain medication is potentially linked to autism in a report that will also suggest a medicine derived from folate can be used to treat symptoms of the developmental disorder in some people. The report, sourced to "people familiar" and expected this month from the Department of Health and Human Services, is likely to highlight low levels of folate, an important vitamin, and Tylenol - which has been mass produced since 1955 - taken during pregnancy as well as other potential causes of autism. Kennedy’s department also plans to pinpoint a form of folate known as folinic acid, or leucovorin, the people said, as a way to decrease the symptoms of autism, which affected roughly one in 31 eight-year-olds in the U.S. in 2022. Tylenol, whose active ingredient is acetaminophen, and has been used for decades, is a widely used pain reliever, including by pregnant women. While a handful of previous studies indicated risks to fetal development, others have found no association. The American College of Obstetricians and Gynecologists says it is safe to use in pregnancy, though it recommends pregnant women consult with their doctors before using it, as with all medicines. Tylenol is made by McNeil Consumer Healthcare, a division of Kenvue, and other companies make similar acetaminophen-based products. “Nothing is more important to us than the health and safety of the people who use our products,” a Kenvue spokeswoman told the WSJ. “We have continuously evaluated the science and continue to believe there is no causal link between acetaminophen use during pregnancy and autism.” Of course in a market where nobody is surprised when crazy things come out of left field late on Friday, the stock of KVUE plunged, losing 12% of its value because RFK Jr., long leeches, short tylenol pair trade was taking on water in recent decades. Tyler Durden Fri, 09/05/2025 - 14:15
One Of Russia's Largest Oil Refineries Once Again On Fire After Ukraine Drone Strike Ukrainian drones have yet again targeted one of Russia’s largest oil refineries overnight - this time a Rosneft facility in the Ryazan region, which lies southeast of Moscow. Ryazan Governor Pavel Malkov in confirming the strike on what he called an "industrial enterprise" described that eight drones were shot down in the area, but which resulted in no injuries or damage to residential buildings. The attack unleashed two active fires at the Ryazan refinery, with witnesses hearing explosions around 2 am local time, after which large flames and thick smoke were spotted above the southern outskirts of the city. Over 90 drones in total were launched across various parts of Russia overnight. Cross-border drone attacks have been a regular feature of the war, coming nightly, and Russia has just as frequently responded with its own major missile and UAV attacks. One Ukrainian military blogger has claimed that due to Ukraine's sustained attacks on Russia's energy infrastructure, "Gasoline (in Russia) is becoming scarce, while gas and oil are quickly running out." Strikes from this summer have reportedly disrupted some 20% of Russia’s refining capacity, or roughly 1.1 million barrels per day. Ukraine's military and media have classified Russia's refineries as essentially military targets, given they prop up funding of the armed forces as they execute Putin's 'special military operation' in Ukraine: According to Ukraine's General Staff, the ELOU-AVT-6 primary oil processing unit, with an estimated annual capacity of 6 million tons, was hit. The plant, which has a capacity of 13.8 million tons per year, was previously struck by Ukrainian drones on Aug. 2, forcing two of its three main refining units to halt operations. Ukraine's military said the facility plays a role in supporting Russia's armed forces. Just the past month has seen at least a dozen similar attacks on Russian crude refineries and distribution sites - revealing a concerted effort to permanently damage the Kremlin's ability to fund the war. Newsmax writes that "The impact has been felt nationwide. Motorists face fuel shortages, long lines, and record prices." The report adds, "Wholesale gasoline prices have jumped 54% since January, prompting authorities to suspend exports and impose rationing in some regions." Tyler Durden Fri, 09/05/2025 - 14:05
Is Lisa Cooked? By Molly Schwartz, cross-asset macro strategist at Rabobank Yesterday, the Department of Justice opened an investigation into Fed Governor Lisa Cook, probing allegations of mortgage fraud. This comes after a series of tweets from Bill Pulte, Director of the Federal Housing Finance Agency, with supposed evidence supporting claims that she was not living at her home in Ann Arbor, MI. Questions, however, still remain as to if she is even guilty, given that she has not yet been convicted (though the DOJ probe might change that) and whether this is even fair grounds to fire her from her position on the Board of Governors in the first place. Cook’s legal team maintains that she “never committed mortgage fraud,” asserting that discrepancies in her mortgage paperwork were already flagged and addressed during her 2022 confirmation process. Indeed, her legal team has filed a lawsuit against Trump over his attempts to remove her. The rest of the Governing Board, including Chair Powell, were also named in the suit, though they are “being sued only to the extent that they are able to effectuate President Trump’s purported termination of Governor Cook.” Whether Cook is guilty or not, there are clear political incentives for Trump to fire her. As it stands, Trump has two Governors, Waller and Bowman, ready and willing to vouch for cuts if it means it will get them on the short list for Fed Chair. Meanwhile, Stephen Miran is on deck to replace Kugler, who stepped down shortly after the July FOMC decision. With Cook still employed, Trump sympathizers are capped at a 3-4 minority. If Trump can stack the Fed with another pick of his own to replace Cook and pull in a sympathetic outsider to act as Fed Chair when Powell steps down, Trump would achieve a 5-2 majority on the Board in 2026. But before Miran can step into Kugler’s shoes, he must be confirmed by the Senate. Yesterday, Miran testified before the Senate Banking Committee, making his case for confirmation. According to Senator Moreno, Miran is already ahead, having confirmed that Miran has “never lied on a mortgage application.” Miran made sure to emphasize his commitment to Fed independence in his prepared statement. However, Senator Warren challenged this, asking Miran several pointed questions, including whether Trump lost the 2020 election. Miran avoided a direct answer, stating only that Congress confirmed Biden’s victory. Other questions included if he believed the Bureau of Labor Statistics falsified data ahead of the 2024 election (in an attempt to sway public sentiment in favor of Harris) and if he thought tariffs had caused tangible price increases. Warren criticized Miran’s responses, saying he had “blown it” and made his loyalty to Trump clear. Another point of contention among Democratic senators was Miran’s dual role as Chairman of the Council of Economic Advisers (CEA) and his nomination to the Fed. Miran stated he would take an unpaid leave of absence for the remainder of Kugler’s term – about four and a half months – as advised by counsel, but that he would resign from the CEA if granted a longer term. Still, senators expressed concern that even on leave, Miran remains functionally employed by the Trump Administration and therefore may be influenced to make decisions that serve political interests rather than economic ones. Another major proponent of “imposing bans on the revolving door between the executive branch and the Fed” is none other than Stephen Miran himself, as explained in a co-authored paper published in March of 2024. In the article, Miran (and Katz) take aim at Chicago Fed President Austan Goolsbee, indirectly referring to him as a “Biden campaign surrogate.” While complimenting Goolsbee’s talents as an economist, Miran and Katz went so far as to argue that “to pretend that one can easily shift between highly political and allegedly nonpolitical roles without letting political biases inform policy is, at best, naïve – and, at worst, sinister.” While perhaps a tad melodramatic, it’s an unfortunate position for Miran to be in the hot seat and have his own words spun back at him by Elizabeth Warren. But question remains if Miran is the exception to his own rule. Across the Atlantic, European leaders gathered at the Coalition of the Willing Summit – seated on bouclé chairs – to discuss the future of Ukrainian security. According to Macron, 26 countries agreed to support Ukraine, including sending troops if necessary. Zelenskiy tweeted after the event, speaking of a “long and detailed conversation” with Trump and thanked him for his support, though he did not elaborate on what exactly that support entailed and what commitments the US would make towards Ukrainian security going forward. He did, however, hint at the continued use of US sanctions and tariffs, citing “strong economic measures to force an end to the war.” Zelenskiy also praised the NATO’s Prioritized Ukraine Requirements List (PURL) initiative, agreed upon in July of this year, which helps to supply Ukraine with American weapons. In an absence of data yesterday on the Eastern Hemisphere, we once again turn our focus back to the United States. Yesterday morning, ADP employment data registered only 54k payrolls added to the economy, down from 104k the month prior, for the fifth sub-100k print year-to-date. This was followed by similarly weak data in ISM services employment at 46.5, fueling the ever-increasing likelihood of a Fed cut at the September meeting. Surprisingly enough, despite slipping yields, USD was still the strongest performing G10 currency. We also saw economic activity data from south of the U.S. border, suggesting continued economic lethargy in Mexico as gross fixed investment contracted at a rate of 6.4% year-over-year and 1.4% month-over-month in June. Meanwhile, the Canadian trade balance, which registered its deepest deficit in April, has shown some improvement in July, with the deficit creeping back up to “only” -$C 4.94 billion, which is at least better than the April 2020 deficit. Tyler Durden Fri, 09/05/2025 - 13:45
Six Flags Faces Bankruptcy Fears After $500M Debt And Park Closures We're not sure what more of a comment about discretionary spending one would need... Six Flags, less than a year removed from its merger with Cedar Fair, is drowning in debt, closing parks, and facing warnings of bankruptcy, according to The Sun. The company has racked up $500 million in debt, seen revenue fall by $100 million in Q2, attendance drop 9%, and season pass sales decline 8%. Two parks have already been shut down, with California’s Great America set to close in 2027. “The whole company needs to be reimagined,” said Dennis Speigel of International Theme Park Services, who warned “bankruptcy is not out of the question.” Citi analyst James Hardiman agreed, saying “everything should be on the table as we think about asset sales,” though flagship parks like Cedar Point are expected to survive. The July 2024 merger was billed as a growth engine, with executives projecting 6% attendance gains in 2025. Instead, attendance fell 9%. “It’s about the biggest miss I’ve ever seen in the theme park industry versus expectations,” Hardiman said. The Sun writes that leadership turmoil has added to the crisis. CEO Richard Zimmerman announced he will step down at year’s end, a move Hardiman called “odd,” especially mid-season. Chairman Selim Bassoul remains in charge. Six Flags blames poor weather for disrupting nearly 50 operating days, but critics say demand for multi-park passes was overstated. Controversial new fees for haunted houses at Halloween events have further angered passholders. Stock prices have plunged to $23.84, less than half their pre-merger value. Two law firms are already exploring potential securities-fraud lawsuits. “If I were running the company, there are 10 to 12 parks I would keep, pay off debt and start over,” said Speigel. “I wouldn’t be surprised if you see the company on the precipice of bankruptcy to get that debt off the books.” Tyler Durden Fri, 09/05/2025 - 13:25
Why Keynes' Economic Theories Failed In Reality Authored by Lance Roberts via RealInvestmentAdvice.com, A recent post from Daniel Lacalle, “How Keynesians Got The US Economy Wrong Again,” exposed the widening gap between John Maynard Keynes’ economic theory and reality. Despite the confident forecasts of leading Keynesian economists, the U.S. economy in 2025 continues to defy expectations. The Federal Reserve’s tightening cycle failed to trigger the widely predicted “hard landing,” and growth has proven more resilient. Simultaneously, inflation remains somewhat sticky, but still declining, and the economy refuses to follow the neat, linear pathways that textbook models suggest. This latest embarrassment for Keynes’ orthodoxy is part of a much larger story. The failures aren’t isolated miscalculations but the predictable result of a flawed framework that policymakers have clung to for decades. Keynesian economics didn’t just “get it wrong” in 2025, but has repeatedly failed to deliver on its promises for over forty years. And the consequences are becoming impossible to ignore. At its core, Keynesian economics is deceptively simple. When demand for the private sector falls, the government should borrow and spend to fill the gap. The idea is that temporary fiscal stimulus injections will smooth business cycles, reduce unemployment, and quickly return the economy to full capacity. But the key word here is temporary. John Maynard Keynes was clear: governments should run deficits during downturns and surpluses during expansions. The debt incurred to rescue the economy should be repaid once conditions normalize. However, in practice, this discipline never materialized. Politicians discovered that voters liked stimulus but hated austerity. Since the 1970s, deficits have become a permanent feature of U.S. fiscal policy, regardless of the business cycle. The results are sobering: the U.S. national debt now exceeds 120% of GDP, entitlement programs are structurally underfunded, and each crisis requires larger interventions with diminishing economic benefits. The COVID-19 pandemic was the ultimate Keynes experiment. Between 2020 and 2022, the federal government injected over $5 trillion in fiscal stimulus into the economy, complemented by the Federal Reserve slashing interest rates to zero and expanding its balance sheet by $120 billion each month. According to the Keynesian model, this unprecedented monetary and fiscal stimulus should have ushered in a durable economic boom. The Failure of Artificial Growth However, as we noted in “MMT Was Tried And Failed,” the massive flood of stimulus temporarily boosted economic growth by “pulling forward” future demand, but it also created several problems. “The most obvious problem was the impact of dramatically increasing demand on a supply-stricken economy. With the economy “shut down” due to Government-mandated restrictions, the flood of stimulus payments led to a demand boost. Given the basic economics of supply versus demand, prices rose. As expected would be the case, the implementation led to a massive surge in inflation. (Given most Americans’ have fixed healthcare and housing payments for a contractual period, the third measure shows what cost-of-living is for most every month.)” Crucially, inflation, excluding housing and healthcare, surged to nearly 12% during the pandemic-stimulus-infused spending spree. However, today, as the economy slows and the stimulus fades from the system, that inflation rate has declined to just 1.61%. Secondly, the “economic boom” created by the demand-pull stimulus continues to disappear as the economy normalizes slowly back to roughly $3.50 in debt to make $1 of economic activity. Following the pandemic shutdown, the economy surged to unprecedented levels, nearing 17.5% nominal growth. On a shuttered economy, the byproduct of all that demand was an inflation surge to 40-year highs, peaking above 9% in 2022. Five years later, inflation continues to decline towards the Fed’s 2% target, but remains sticky as remnants of monetary and fiscal stimulus continue to flow through the system. The Broken Transmission of Monetary Policy A further failure of modern Keynesian policy is its overreliance on central banks. Through rate cuts and quantitative easing (QE), monetary stimulus has become the go-to solution for any economic slowdown. Yet the transmission mechanism between monetary policy and real economic activity has fundamentally broken. Artificial interventions and “MMT” failed to work in reality because the underlying transmission system failed. “The promise of something for nothing will never lose its luster. So MMT should be viewed as a form of political propaganda rather than any real economic or public policy. And like all propaganda, we must fight it with appeals to reality. MMT, where deficits don’t matter, is an unreal place.” Meanwhile, the velocity of money, the rate at which money changes hands in the economy, while recovering somewhat from the economic shutdown, continues to trend lower. In other words, the Fed can inject liquidity but fails to circulate productively. The velocity trend does not provide an encouraging outlook for GDP growth. Given the weakening economic growth rates and subsequently declining inflation, a direct reflection of weakening consumer demand, banks have little incentive to expand lending at current rates, especially in an environment of tighter regulations and poor credit quality. One key problem is that Keynesian models assume a linear cause-and-effect relationship between government spending and economic output. They focus almost entirely on aggregate demand, neglecting critical dynamics like debt saturation, supply chain fragilities, and the feedback loops of global capital markets. In today’s highly financialized economy, government spending does not circulate efficiently. As noted, much of it gets trapped in financial markets, inflating asset prices rather than stimulating productive investment. Ultra-low interest rates, another hallmark of Keynesian policy, discourage savings and encourage debt-fueled speculation. This distorts capital allocation, causing malinvestment in unproductive assets like meme stocks, speculative real estate, and unprofitable tech ventures. Most benefits remain trapped in the top 10% of the economy, which owns roughly 88% of the inflation-adjusted financial assets. In other words, the wealthy retain the monetary injections while inflation taxes them away from the poor. Mr. Lacallie highlighted this mismatch between Keynes’ theories and economic realities. As he noted, many mainstream economists repeatedly forecasted a 2023-2024 recession that never arrived, underestimated inflation persistence, and misread the impact of fiscal tightening. These forecasting errors expose deeper flaws in how Keynesians model the modern economy. Hayek’s Warnings Prove Prophetic The Austrian school of economics, particularly Friedrich Hayek’s views, starkly contrasts with Keynesian thinking. Austrian economists believe that a sustained period of low interest rates and excessive credit creation creates a dangerous imbalance between saving and investment. In other words, low interest rates tend to stimulate borrowing from the banking system, which leads, as one would expect, to the expansion of credit. This expansion of credit, then, in turn, increases the supply of money. Therefore, as one would ultimately expect, the credit-sourced boom becomes unsustainable as artificially stimulated borrowing seeks out diminishing investment opportunities. Finally, the credit-sourced boom results in widespread malinvestments. When the exponential credit creation is no longer be sustainable, a “credit contraction” occurs, ultimately shrinking the money supply. The markets eventually “clear,” which causes resources to be reallocated towards more efficient uses. Modern policymakers refuse to allow this natural process. Each downturn results in more aggressive stimulus, which only delays the necessary corrections. The result has been a relentless build-up of economic imbalances. Inefficient businesses survive on cheap debt, zombie firms proliferate, and innovation suffers. Each economic expansion is weaker than the last, and each recovery depends on larger interventions to stay afloat. Perhaps the greatest misconception perpetuated by Keynesian economists is that debt-financed stimulus is a free lunch. In reality, servicing the debt and rising debt service costs become a significant economic headwind. The Congressional Budget Office projects that U.S. interest payments will exceed national defense spending in the coming years and approach $1.5 trillion annually by 2030. Of course, that is assuming that rates stay where they are currently. The next crisis, which has become more common since the turn of the century, will significantly lower rates. As shown, a reduction in rates by 1% would dramatically impact future liabilities. This is not just a fiscal issue—it’s a macroeconomic drag. Spending dollars on interest payments diverts them from infrastructure, education, or productive investment. Worse, rising debt levels crowd out private investment, distort capital markets, and reduce the flexibility to respond to future crises. Conclusion: Keynes’ Economic Theory Has Failed For the last 40 years, each Administration and the Federal Reserve have continued to operate under Keynes’s monetary and fiscal policies, believing the model worked. The reality, however, is that most of the economy’s aggregate growth is financed by deficit spending, credit expansion, and a reduction in savings. This reduced productive investment and slowed the economy’s output. As the economy slowed and wages fell, the consumer took on more leverage, decreasing savings. The result of the increased leverage required more income to service the debt, rather than fuel increased consumption. Secondly, most government spending programs redistribute income from workers to the unemployed. Keynes’ economists argue that this increases the welfare of many hurt by the recession. What their models ignore, however, is the reduced productivity that follows a shift of resources toward redistribution and away from productive investment. All of these issues have weighed on the overall prosperity of the economy. What is most telling is the inability of current economists, who maintain our monetary and fiscal policies, to realize the problem of trying to “cure a debt problem with more debt.” This is why Keynes’ economic policies have failed, from “cash for clunkers” to “Quantitative easing.” Each intervention either dragged future consumption forward or stimulated asset markets. Pulling future consumption forward leaves a “void” in the future that must be continually filled. However, creating an artificial wealth effect decreases savings, which could be used for productive investment. It’s time we wake up and realize we are on the same path. Tyler Durden Fri, 09/05/2025 - 13:05
EU Slaps Google With Massive €2.95 Billion Antitrust Fine The European Commission has slapped Google with a €2.95 billion fine for abusing its dominance in the search advertising market through "self-preferencing" practices, according to a new Financial Times report. The EU ordered Google to end these behaviors within two months or risk a potential breakup. This marks one of the largest EU fines against a company, following the €4.12 billion Android fine in 2018. EU competition chief Teresa Ribera warned Google to draw up a "serious remedy to address its conflicts of interest, and if it fails to do so, we will not hesitate to impose strong remedies." Lee-Anne Mulholland, Google's global head of regulatory affairs, called the fine "unjustified" and said "it requires changes that will hurt thousands of European businesses by making it harder for them to make money." The commission's investigation began around 2021, with formal charges issued in 2023. Brussels warned back then that the only solution for Google might be breaking up its ad-tech business. Not since US v Microsoft, filed in 1998, has Silicon Valley been so threatened. Meanwhile, in the US, Google earlier this week avoided a breakup order after a judge ruled against forcing divestitures of Chrome or Android. Instead, Google must share more data and stop exclusive distribution deals. "Plaintiffs Over-Reached": Alphabet Shares Soar After Judge Rules In Antitrust Case https://t.co/wpHPO05oKA September 2, 2025 Even as Brussels and Washington ramp up antitrust actions against the tech giant, its New York-listed shares have gone parabolic this year. . . . Tyler Durden Fri, 09/05/2025 - 12:45
Biden-Appointed Judge Blocks Trump's Transgender Passport Order Authored by Aldgra Fredly via The Epoch Times (emphasis ours), A federal appeals court on Sept. 4 upheld a lower court ruling that blocked enforcement of President Donald Trump’s executive order banning the use of gender-neutral markers on passports. U.S. passports are arranged for a photograph in Tigard, Ore., on Dec. 11, 2021. Jenny Kane/AP Photo U.S. District Judge Julia Kobick issued an injunction in April blocking the Department of State from enforcing the passport policy against six plaintiffs who filed the case, later expanding it in June to grant class certification, covering other Americans identifying as nonbinary or transgender. In the Sept. 4 ruling, the court’s three-panel judge stated that the government failed to meaningfully address the district court’s finding that the changes to passport policy were rooted in “unconstitutional animus toward transgender Americans.” The judges noted that the federal government did not meet its burden to secure a stay, despite its argument that blocking the policy could harm “certain long-term institutional interests of the executive branch.” “In contrast, based on the named plaintiffs’ affidavits and the expert declarations submitted by the plaintiffs, the district court made factual findings that the plaintiffs will suffer a variety of immediate and irreparable harms from the present enforcement of the challenged policy, including ‘a greater risk of experiencing harassment and violence’ while traveling abroad,” the judges stated. The American Civil Liberties Union (ACLU) of Massachusetts, which represented the plaintiffs, said the ruling ensures that “transgender, non-binary, and intersex people will continue to be able to obtain accurate passports.” The White House did not respond to a request for comment by publication time. The United States had permitted individuals who identify as transgender and intersex to choose a different sex for their passport than their birth sex since 1992, pending submission of medical documentation, until the rules were changed in 2021 under President Joe Biden. The Biden administration allowed people to self-select their passport sex marker based on gender identity. Individuals who identified as non-binary or intersex were allowed to select an “X” marker rather than “M” or “F.” After taking office on Jan. 20, Trump signed an executive order titled “Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government,” mandating that government-issued identification documents, including passports, use sex rather than gender identity. “It is the policy of the United States to recognize two sexes, male and female. These sexes are not changeable and are grounded in fundamental and incontrovertible reality,” the order stated. ACLU filed the lawsuit in February on behalf of the plaintiffs challenging Trump’s order. Kobick ruled in their favor in April, noting that the administration failed to demonstrate substantial government interests in changing the passport policy. Joseph Lord contributed to this report. Tyler Durden Fri, 09/05/2025 - 12:20
Schiff: Trump's Wrong; "We Screw Over The World" On Trade Donald Trump’s tariffs split opinion—champions said they were leverage to rebuild U.S. industry, while critics argued they were hidden taxes that raised costs and invited retaliation. At last night’s ZH Debate, Cornell chemistry professor Dave Collum — fresh off his Tucker Carlson controversy — moderated as Peter Schiff and Brent Johnson squared off on trade, tariffs, and the future of the dollar. Brent is no fan of tariffs but thinks there is some wisdom to Trump’s long-term plan and that the U.S. dollar still reigns supreme. Peter… well all ZH readers know where Peter stands. Below were the key moments for those short on time: Trump Has Trade Deficits Wrong Peter Schiff argued that America’s trade deficits are misunderstood. “It’s actually the other way around,” he said, pushing back on Donald Trump’s claim that the U.S. is being taken advantage of. “We take advantage of the world. They give us goods produced at significant cost in resources, land, labor, capital… and all we do is run off dollars on a printing press, cost us nothing, and we give it to them.” Brent Johnson responded that this imbalance is exactly what comes with America’s position. “That’s the privilege of being the hegemon as you get global.” Schiff countered that such privilege is temporary. “It’s the privilege that we are about to lose. That’s what $3,500 gold tells you. Dollar is on the way out as the reserve currency.” pic.twitter.com/mgb8ovZcPy September 5, 2025 “I expect Powell to lose” Brent went on record with a bold call that included something rarely seen in market commentary: timing. He predicts — as soon as October — a 10 or 20% market downturn… perhaps welcomed by the Trump admin so they can blame the Fed and lower rates. “To get the cover to do that, they need some pain. I don’t think they can do that right now with things the way they already are.” “Some kind of a crisis that they blame on the Fed, and then they go back to even easier monetary policy than maybe they had last time. And that is what then gives the fuel to go much higher.” With markets at record highs and inflation still sticky, “it’s really hard to do it now.” Brent’s prediction: “I think Powell is pushing back a little bit. But this is the thing—I expect Powell to lose. I think Trump and Bessent are going to get control.” pic.twitter.com/glftJKmeJ6 September 5, 2025 Watch the full debate below or listen on Spotify for more fun moments like this one… Schiff on the world’s attitude towards the U.S. dollar once rates drop: “Shove it up your ass.” pic.twitter.com/WUfI9OLwqc September 5, 2025 Full Debate (X, YT, and Spotify): https://t.co/dhOGAvwTtX September 4, 2025 Tyler Durden Fri, 09/05/2025 - 12:05
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