Edward Hopper Sailing 1911
Nikas Safronov (gifted to Trump by Putin)
— Elon Musk (@elonmusk) April 22, 2025
https://twitter.com/iam_smx/status/1914636471778111601
JFK
— Donna Barford (@DonnaBarford) April 22, 2025
Nap/Sachs
Judge Napolitano: "Donald Trump just hired a former official of the IDF to the National Security Council."
Jeffrey Sachs: "This is a scam operation. Our politicians have sold themselves out to the Israel lobby." pic.twitter.com/1mDwfBeZRn
— Legitimate Targets (@LegitTargets) April 22, 2025
Rice
Uhhh? Why is Obama’s UN Ambassador, Susan Rice, still allowed at the Defense Department.
She’s on the Defense Policy Board.
Someone fire her before I wake up tomorrow.pic.twitter.com/1Q8U4YVtdH
— George (@BehizyTweets) April 22, 2025
Zeldin
Lee Zeldin shuts down reporter on the media's bias against DOGE, and he even reads her own words back to her when she denies it
A DEFIANT W right therepic.twitter.com/otq5FA0q6b
— Defiant L’s (@DefiantLs) April 21, 2025
BlackRock
https://twitter.com/JimFergusonUK/status/1914581682675449912
“..the US is said to be prepared to grant “de jure” recognition of Crimea as part of Russia, and unofficially acknowledge Moscow’s “de facto” control over the[four regions]..”
Zelensky simply says no, not acceptable. For Kiev, It’s just a game.
• Trump Makes ‘Final Offer’ To End Ukraine Conflict – Axios (RT)
Washington has presented Kiev with what US President Donald Trump is calling a “final offer” to end the conflict in Ukraine, according to a report by Axios. The Kremlin, however, has urged the public to rely on official sources for developments in US–Russian talks. The one-page document was reportedly drafted following Trump envoy Steve Witkoff’s four-hour meeting with Russian President Vladimir Putin earlier this month, and was presented to Ukrainian officials in Paris last week, Axios reported on Tuesday, citing unnamed sources with direct knowledge of the discussions. Under the proposed deal, the US is said to be prepared to grant “de jure” recognition of Crimea as part of Russia, and unofficially acknowledge Moscow’s “de facto” control over the Lugansk and Donetsk People’s Republics, as well as the Kherson and Zaporozhye regions.
The plan also includes provisions for lifting post-2014 sanctions on Moscow and enhancing bilateral economic cooperation. In addition, Washington would formally oppose Ukraine’s bid to join NATO. In return, Ukraine would reportedly receive a “robust security guarantee” from a coalition of EU and other like-minded countries, though the proposal lacks details on how this “peacekeeping” operation would function. Russia has consistently rejected the deployment of NATO forces to Ukraine under any pretext. The framework also promises Kiev unimpeded access to the Dnepr River and potential compensation for reconstruction efforts, although it does not specify where the funding would originate. The plan references a minerals deal between the US and Ukraine, which Trump expects to be signed on Thursday.
Another component of the proposal, according to Axios, involves designating the area around the Zaporozhye nuclear power plant (NPP) as neutral territory under US administration. Washington reportedly expects Kiev to respond to the proposal during a multinational meeting in London on Wednesday. Both Witkoff and Secretary of State Marco Rubio will skip the event, with General Keith Kellogg, another Trump envoy focused on Ukraine, leading the US delegation instead. Witkoff is expected to travel to Moscow for a follow-up meeting with Putin. Rubio warned last week that the US could abandon the peace initiative and “move on” to other issues if negotiations fail. Trump said on Monday there is “a good chance of solving the problem” this week.
Ukraine’s Vladimir Zelensky has repeatedly ruled out ceding any territory to Russia and continues to urge the US and other allies to provide sustained military support. Moscow has consistently stated that the status of Crimea – which joined Russia in 2014 following a referendum held after a Western-backed coup in Kiev – and the four other former Ukrainian regions that voted to join Russia in 2022 is not open to negotiation. Russian officials insist that any peace agreement must address the “root causes” of the conflict. Putin has added that a viable ceasefire would require Western nations to halt arms deliveries to Ukraine.
“..I think they’re going to be happy, and I think we’re going to live together very happily and ideally work together.”
• Trump Signals Step Back On China Tariffs (DC)
President Donald Trump signaled Tuesday evening from the Oval Office that the U.S. will ease tariffs on China, saying they’ll “come down substantially” but won’t be eliminated entirely. On April 2, Trump announced reciprocal tariffs on several countries, with higher rates for nations like China due to their own trade barriers against the U.S. When asked Tuesday about the tariffs against the foreign country, Trump said that the 145% hit would not last forever. “I’m sure 145% is very high, and it won’t be that high, not going to be that high,” Trump said. “It got up to there. We were talking about fentanyl where, you know, various elements built it up to 145. No, it won’t be anywhere near that high.” Following Trump’s initial tariff announcement, the U.S. and China entered a tariff war, with China responding by imposing steep tariffs of its own.
By April 9, Trump said the U.S. would raise tariffs on China from 104% to 125% — after the country refused to lift its retaliatory measures — while implementing a 90-day pause on tariffs for other countries. “It’ll come down substantially, but it won’t be zero. It used to be zero,” Trump said. “We were just destroyed. China was taking us for a ride and just not going to — it’s not going to happen. We’re going to be very good to China. I have a great relationship with President Xi, but they would make billions and billions and billions of dollars a year, and they were building a military out of the United States on what they made.” By April 10, the White House said that Trump’s announced 125% tariff would actually total 145% on all Chinese imports, according to The New York Times.
The administration said the 125% would be added on top of a previously announced 20% tariff already in place on goods from China, the outlet reported. “So that won’t happen. But they’re going to do very well, and I think they’re going to be happy, and I think we’re going to live together very happily and ideally work together. So I think it’s going to work out very well, but, no, it’s at 145%. It will not be anywhere near that number,” Trump said. During a speech Tuesday, U.S. Treasury Secretary Scott Bessent said he expects a “de-escalation” in the tariff war between the U.S. and China, adding that the ongoing conflict would be unsustainable in the long run, according to the Associated Press.
Maybe the no.1 item for the day. If the Kremlin feels they must warn about what everybody already knows, it’s serious. The other day I mentioned NPR, NYT, Politico as suspicious sources on the topic. Today the FT very much joins those ranks.
“A lot of fakes are being published now, including by respected publications..”
• ‘Only Trust Primary Sources’ On US-Russia Talks – Kremlin (RT)
Kremlin spokesman Dmitry Peskov has urged people to go to the primary sources regarding developments in talks with the US on the Russia-Ukraine conflict, warning of fake news. In an interview with RIA Novosti on Tuesday, Peskov was asked to comment on a recent report from the Financial Times claiming that Moscow is ready to freeze the conflict along the current front lines. “A lot of fakes are being published now, including by respected publications, so you should only listen to the primary sources,” he said. According to the FT article from Tuesday, Russian President Vladimir Putin offered to freeze the conflict during his meeting with US special envoy Steve Witkoff earlier this month in St. Petersburg.
Russian presidential foreign policy aide Yury Ushakov confirmed on Tuesday that Moscow is expecting another visit from Witkoff later this week. This will be the diplomat’s fourth visit to Russia since the start of the US diplomatic push regarding the Ukraine conflict. US President Donald Trump has touted a big reveal of his plan to wrap up the hostilities in Ukraine. “I will be giving you a full detail over the next three days,” he told journalists on Monday, adding that the US has “had very good meetings on Ukraine, Russia.” The Kremlin stated that while work is underway, the peace process is unlikely to conclude soon.
“This topic is so complex that it probably shouldn’t be constrained by strict timeframes,” Peskov told the press on Tuesday. Trump and his administration have signaled growing dissatisfaction with the pace of the peace talks. “If it is not possible to end the war in Ukraine, we need to move on,” Secretary of State Marco Rubio told reporters last Friday. Throughout the conflict, Moscow has said it is open to talks with Kiev. Negotiations must be based on the realities on the ground and address the root causes, such as Ukraine’s aspirations to join NATO. The Kremlin previously stated that it would not accept a temporary halt in the hostilities, saying this would simply allow Ukraine’s Western backers to rearm its military.
“Not ready yet.” Trump is being played.
• Ukraine Not Ready to Discuss US Peace Plan Proposal – Reports (RT)
Ukraine appears to be reluctant to discuss the peace plan framework, prepared by the United States, during the upcoming talks in London, Axios reports, citing a US official. In the past 24 hours, there had been “indications from the Ukrainians” that they only planned to discuss a 30-day ceasefire on Wednesday, instead of US President Donald Trump’s complex peace plan proposal, Axios said on Tuesday night. The Washington Post reported earlier on Tuesday, citing people familiar with the matter, that the Trump administration was going to propose during the upcoming talks with Ukrainian and European representatives in London that Crimea gets recognized as part of Russia and that the front lines get freezed as part of a peace agreement.
The Wall Street Journal reported on Tuesday, citing a person with knowledge of the negotiations, that British and French officials were “open to a scenario” where Ukraine would “accept the loss of control of some of the territories taken by Russia,” in exchange for economic support and security guarantees. The newspaper specified that France and the United Kingdom would prefer a Ukraine peace deal that acknowledged control of territories “only in a de facto way.” The New York Post reported, citing a senior US administration official, that Kiev was seemingly “willing to give up 20% of its land,” but only if it was considered a “de facto” recognition of the territory and not “de jure.”
Last week, US Secretary of State Marco Rubio and Steve Witkoff, the US special presidential envoy for the Middle East, held talks on the conflict resolution with representatives from Germany, the United Kingdom and Ukraine, as well as with French President Emmanuel Macron, in Paris. On April 18, Rubio said he hoped the next meeting between Ukrainian and European representatives would lead to progress in the Ukrainian settlement. On Tuesday, US State Department spokesperson Tammy Bruce said that Rubio was not going to attend the upcoming talks in London. The US will be represented by special envoy Keith Kellogg. Axios suggested on Tuesday that the decision to send Kellogg was made because of Kiev’s reluctance to discuss Trump’s peace plan framework.
Zelensky claims Russia wants to prolong the war…
• Ukraine Will Not Recognize Russia’s Crimea – Zelensky (RT)
Kiev refuses to discuss recognizing Crimea as a Russian territory, Ukraine’s Vladimir Zelensky told journalists on Tuesday, according to Ukrainian outlet Suspilne. “[Crimea] is our territory, the territory of the people of Ukraine. We have nothing to talk about on this topic – it is outside our Constitution,” Zelensky said. The Ukrainian leader claimed that discussing the issue of Crimean ownership will only lead to prolonging the war. “As soon as we start talking about Crimea, about our sovereign territories, we enter the format of prolonging the war,” he said, adding that this is “what Russia wants.”
The US will now send Kellogg, who was recently demoted to make place for Witkoff.
“Ukrainian Defense Minister Rustem Umerov reportedly told the US envoys that Kiev is “90%” aligned with Washington’s proposed peace framework..”
• Rubio and Witkoff To Skip London Ukraine Talks (RT)
US Secretary of State Marco Rubio will not attend the upcoming Ukraine talks in London, despite earlier plans to take part, the State Department has confirmed. President Donald Trump’s envoy, Steve Witkoff, has also withdrawn from the meeting, according to the Financial Times, and is expected to visit Moscow instead. State Department spokesperson Tammy Bruce cited scheduling conflicts as the reason for Rubio’s withdrawal from Wednesday’s talks, insisting this does not signal a change in the US commitment to the peace process. “Secretary Rubio is a busy man… And so when there’s certain plans, they’re conditional. And in this particular instance, while the meetings in London are still occurring, he will not be attending. But that is not a statement regarding the meetings; it’s a statement about logistical issues in his schedule,” Bruce told journalists on Tuesday.
General Keith Kellogg, another Trump envoy tasked with negotiating with Kiev directly, will represent Washington at the London discussions. The talks will include officials from the UK, France, and Germany – countries that advocate continued military support for Ukraine – as well as representatives from Kiev. The London talks follow a series of high-level meetings in Paris last week, where Rubio and Witkoff held discussions with European and Ukrainian officials. According to the New York Post, Ukrainian Defense Minister Rustem Umerov reportedly told the US envoys that Kiev is “90%” aligned with Washington’s proposed peace framework, which has not yet been made public. Sources cited by the Washington Post on Tuesday claimed that the US proposals include formally recognizing Crimea as Russian territory and potentially lifting sanctions on Moscow as part of a future agreement.
Meanwhile, the Financial Times claimed that Russia is prepared to halt the hostilities along the current front line. Kremlin spokesman Dmitry Peskov urged the media and public to rely on official sources regarding developments in US–Russian talks on the Ukraine conflict, warning that “a lot of fakes are being published now, including by respected publications.” Both Washington and Moscow have officially confirmed that Witkoff will travel to Russia for talks “later this week.” Moscow has stated that the status of Crimea – which joined Russia in 2014 following a referendum held after a Western-backed coup in Kiev – and the four other former Ukrainian regions that voted to join Russia in 2022, is not subject to negotiation. Russian officials maintain that recognizing the “reality on the ground” is essential to achieving a lasting peace.
Russia would have to react. EU and UK hope that starts a war with NATO.
• EU and UK Preparing Naval Blockade of Russia – Patrushev (RT)
The EU and the UK are gearing up to impose a naval blockade on Russia, Nikolay Patrushev, a senior aide to Russian President Vladimir Putin, has said. He warned that Moscow has a fleet powerful enough to respond to any such move. In an interview published on Monday by Kommersant, Patrushev, who chairs Russia’s Maritime Board, a body which oversees national policy in this domain, stated that Moscow is facing escalating threats and challenges at sea amid growing geopolitical tensions. “The collective West no longer hides its intentions to expel our shipping from the seas, while sanctions plans mulled, for example, by the British and some EU members increasingly resemble a maritime blockade,” he said. Patrushev warned that these steps would “meet an adequate and proportionate response” from Moscow.
“If diplomatic or legal instruments do not take effect, the security of Russian shipping will be ensured by our navy. The hotheads in London or Brussels need to clearly understand this,” he said. Patrushev emphasized that Russia is pursuing a large-scale naval modernization program, including the development and deployment of unmanned systems while refining navy tactics. However, Moscow does not intend to get involved in a “naval arms race,” he added. Western countries introduced maritime restrictions on Russia in 2022 over the Ukraine conflict, and have sanctioned dozens of Russian ships for allegedly circumventing an oil price cap. Russian ships have also faced major obstacles in accessing EU ports, insurers, and financial institutions.
The British Navy has been shadowing Russian ships passing near its waters for months, citing concerns about a perceived threat to national security and maritime infrastructure. Maritime tensions have also been heightened in recent months following several ruptures in underwater infrastructure in the Baltic Sea. While there has been speculation about alleged Russian involvement, Western officials have offered no evidence. The Kremlin has dismissed the speculation as “absurd.” NATO has increased its military presence in the Baltic Sea following the sabotage allegations, prompting Russia to warn that it would respond appropriately to any “violations” by the bloc’s vessels.
You can’t have a fair election with him as a candidate, or an organizer.
• Zelensky Could Easily Rig Wartime Election – Ex-Campaign Chief (RT)
Ukraine’s Vladimir Zelensky has the ability to manipulate the outcome of a presidential election under the current martial law, according to his former campaign chief, Dmitry Razumkov. Zelensky’s presidential term expired last year, but he asserts that no leadership change can occur while the conflict with Russia persists. In an interview with journalist Anna Maksimchuk on Monday, Razumkov, a seasoned political strategist who propelled Zelensky to power, expressed concern over his former client’s ability to maintain control. ”If someone devises a system for elections under martial law, Zelensky will end up with 102% of the vote,” he quipped. “They’ll station conscription officers at every polling station and draft on the spot anyone who dares not support the current government.”
Razumkov further criticized the notion of conducting a remote election via Ukraine’s e-government service, asserting that “whoever controls Dia will then secure that same 102%.” He quipped that Russia could engineer Belarusian President Alexander Lukashenko’s election in Ukraine through such a faulty system. “Dia,” which translates to “the state and I,” is an app closely associated with Digitalization Minister Mikhail Fedorov. Razumkov managed the successful 2019 campaign that turned Zelensky from a comedian into a head of state. Subsequently, he served as the speaker of parliament until 2021, when he was ousted by fellow lawmakers from the president’s party in what many observers said was a consolidation of power.
Zelensky has continuously extended martial law in Ukraine roughly every three months, with the latest prolongation last week pushing the expiration date to early August. His emergency rule has even been condemned by US President Donald Trump, who called Zelensky a “dictator without elections” in February. Moscow contends that, according to the Ukrainian constitution, Zelensky should transfer presidential authority to the current parliamentary speaker, Ruslan Stefanchuk. Zelensky’s refusal to do so casts doubt on the legal validity of any documents he signs, including potentially a peace treaty with Russia, President Vladimir Putin has observed.
“.. it was “Witkoff’s idea” for the US to designate Crimea as Russian “without forcing Ukraine to recognize it.”
• US To Propose Crimea Recognition As Part of Ukraine Peace Deal – WaPo (RT)
Washington will propose a peace deal recognizing Russian sovereignty over Crimea and freezing the front lines in the Ukraine conflict at a meeting with Ukrainian and European officials this week, the Washington Post has reported, citing sources. The US is expected to hold talks in London on Wednesday with Ukrainian and European officials as US President Donald Trump continues his push for a deal. Secretary of State Marco Rubio and Trump’s envoys Steve Witkoff and Keith Kellogg are reportedly set to meet foreign ministers and security advisers from France, Germany, the UK, and Ukraine. People familiar with the matter told the outlet on Tuesday that US proposals, presented to Ukraine in Paris last week, include Washington formally recognizing Crimea as Russian territory and eventually lifting sanctions against Moscow under a future accord.
One Western official described the pressure on Ukraine as “astounding.” European officials are expected to push for security guarantees for Ukraine and postwar reconstruction efforts, possibly funded in part by frozen Russian assets, the report said.Trump has threatened to walk away if progress is not made soon, and told reporters on Monday that he would be releasing details of the US proposals “over the next three days.” US special envoy Steve Witkoff, who has had multiple rounds of talks with senior Russian officials, including President Vladimir Putin, will visit Russia later this week, Moscow has confirmed. According to one of the Post’s sources, it was “Witkoff’s idea” for the US to designate Crimea as Russian “without forcing Ukraine to recognize it.”
Crimea held a referendum to join Russia in 2014 following a Western-backed armed coup in Kiev. The new Ukrainian government, along with its Western supporters, has refused to recognize the vote’s legitimacy.Ukraine’s Vladimir Zelensky has ruled out relinquishing any territorial claims against Russia and has urged the US and other nations to continue providing military aid – a policy the Trump administration has said it will end. Moscow insists that the status of Crimea, the city of Sevastopol, and the four former Ukrainian regions which voted to join Russia in 2022, is not up for negotiation. Russian officials have emphasized that recognizing the “reality on the ground” is key to achieving lasting peace.
This is the report the Kremlin warns about.
• Putin Offers To Halt Fighting Along Current Front Lines In Ukraine: FT (ZH)
In a huge development, President Vladimir Putin has offered to halt his invasion of Ukraine across the current front line as part of ongoing efforts to work with US President Donald Trump toward reaching a permanent peace deal. This reportedly happened during ongoing dialogue with Trump’s top envoys. This is according to several sources which spoke to Financial Times, which wrote further in a Tuesday report, “The proposal is the first formal indication Putin has given since the war’s early months three years ago that Russia could step back from its maximalist demands to end the invasion.” “The Russian president told Steve Witkoff, Trump’s special envoy, during a meeting in St Petersburg earlier this month that Moscow could relinquish its claims to areas of four partly occupied Ukrainian regions that remain under Kyiv’s control, three of the people said,” FT continues.
The Kremlin side has not publicly acknowledged this, and so the breaking report should be taken with a grain of salt, given this contradicts Putin’s public stance that Russia will never relinquish the four territories which were declared part of the Russian Federation after the Moscow-backed referendums of Sept. 2022. However, if Russian forces did simply halt their advance based on an agreed-upon freeze in fighting, there would be portions of these territories still not under Russian military control. The FT report goes on, “The US has since floated ideas for a possible settlement that includes Washington recognizing Russian ownership of Ukraine’s Crimean peninsula, the people added, as well as at least acknowledging the Kremlin’s de facto control over the parts of the four regions it currently holds.”
All of this is being reported hours after Ukraine’s President Zelensky said he has rejected the possibility of ceding over Crimea, after the Trump administration reportedly offered the ‘gift’ to Putin of US recognition of Russian sovereignty over the strategic peninsula and home to the Russian navy’s Black Sea fleet. According to Ukrainian media: “Ukraine will not legally recognize Russia’s occupation of Crimea under any circumstances, President Volodymyr Zelensky said during a briefing in Kyiv on April 22. “There is nothing to talk about. This violates our Constitution. This is our territory, the territory of the people of Ukraine,” Zelensky told reporters. Zelensky added, “As soon as talks about Crimea and our sovereign territories begin, the talks enter the format that Russia wants — prolonging the war – because it will not be possible to agree on everything quickly.”
Kiev has also recently accused Moscow of using negotiations as a smokescreen while in actuality prolonging the war, also coming off the 30-hour Eastern truce, which saw both sides accuse the other of many violations. The Financial Times acknowledged this possibility, and the fact that Moscow is in the driver’s seat related to any potential settlement that would end the conflict, in the following: But European officials briefed on US efforts to end the war cautioned that Putin would probably use the apparent concession as bait to lure Trump into accepting Russia’s other demands and forcing them on Ukraine as a fait accompli. “There is a lot of pressure on Kyiv right now to give up on things so Trump can claim victory,” one of them said.
The reality remains that if Zelensky can’t so much as admit that Crimea will be permanently in Russia’s hands, with no hope of Kiev ever getting it back, the prospect of a peace settlement happening anytime soon seems very remote. But clearly Moscow is seeking to show itself willing to compromise by these overtures, but whether there’s much substance or genuineness behind the offer to halt all frontline fighting is another question. At the moment, at least 99.5% of Kursk territory is back in Russia’s control. Russia’s military also still continues to advance in remaining parts of Donetsk still held by Ukraine, but slowly and village by village.
Tesla will be alright. So will Musk.
• Tesla Shares Pop 5% After Musk Says He’ll Limit Time With DOGE In May (ZH)
In a candid call with analysts on Tuesday, Elon Musk announced that he will begin scaling back his involvement with the federal government starting in May, signaling a shift in priorities back toward Tesla. As a result, Tesla shares were up 5% late in the after hours session.“I think starting probably next month, May, my time allocation to DOGE will drop significantly,” Musk said. Musk has been a central figure in the effort to streamline the federal government under the Trump administration through an initiative he dubbed the “Department of Government Efficiency,” or DOGE. That effort has involved an aggressive reduction of federal workforce levels, targeting DEI programs, and a broad reorganization of agency resources. Despite growing protests against Tesla and Musk’s role in Washington, he remains unapologetic. “The work with DOGE is critical,” he stated, while dismissing the backlash as “organized and paid for.”
Although the billionaire entrepreneur holds the title of “special government employee”—a designation that legally limits him to 130 days of federal work per year—his presence in the capital has been nothing short of influential. Musk indicated that the heavy lifting to establish DOGE is “mostly done,” allowing him to reallocate his schedule. “I will spend ‘a day or two’ per week on government matters if President Trump wants me to,” he said, but emphasized that more of his attention will now return to Tesla. Despite his pullback from the capital, Musk said he will “continue to advocate for lower tariffs, rather than higher tariffs,” noting that this is the extent of his ongoing engagement on trade policy. Tesla remains the only publicly traded firm among Musk’s sprawling portfolio, which includes SpaceX, Neuralink, XAI, and The Boring Company. As such, it has absorbed much of the public response—both praise and criticism—related to Musk’s deepening political ties.
Yet, the CEO expressed confidence in Tesla’s direction. “I remain extremely optimistic about Tesla’s future,” he said, pointing to the company’s ambitions in autonomous vehicles and humanoid robots. He reiterated his forecast that Tesla will become the most valuable company in the world, noting that robotaxis are expected to deliver a meaningful financial impact by mid-2026. He also revealed that Tesla aims to have thousands of its Optimus humanoid robots operational in factories by the end of the year, with plans to scale to one million units annually within five years—a pace he described as faster than any product in the company’s history. Closing the call with idealism, Musk said, “I like this phrase sustainable abundance for all,” and affirmed his commitment to continue leading Tesla through its next phase of innovation and expansion. Tesla reported earnings after the market closed that were worse than analyst expectations. The stock, with most of the bad news seemingly already priced in, held its ground in after hours trading. The results were:
• Revenues $19.34BN, big miss to estimates of $21.37BN
• EPS 27c, missing estimates of 43c
• Gross margin 16.3% (down from 17.4% y/y), and beating estimates of 16.1%
• Automotive gross margin ex reg credits 12.5%, beating estimates of 11.9%
• Operating income $399 million, -66% y/y, missing estimates of $1.13 billion
• Free cash flow $664 million (vs. negative $2.53 billion y/y) missing estimate $1.08 billion
• Capital expenditure $1.49 billion (down -46% vs $2.77Bn y/y and down 47% vs $2.78BN Q/Q), missing estimates of $2.49 billion
Of note, Tesla eked out positive free cash flow number by slashing capex almost in half compared with the prior quarter and a year ago. Absent that, it would have burned cash.Tesla offered a measured outlook during its earnings report, signaling that it will revisit its 2025 guidance in the Q2 update, while notably omitting any concrete forecast for a return to growth. The company emphasized that its rate of growth will hinge on a range of variables, including global trade policy, which it admitted is difficult to quantify in terms of impact. Tariffs, in particular, are expected to weigh more heavily on the company’s energy unit than its automotive business, with Tesla cautioning that the broader tariff landscape could have a larger effect on demand and operational strategy. Nevertheless, the company maintained that actions are being taken to stabilize performance over the medium to long term, and it expressed confidence in having sufficient liquidity to fund its product roadmap. Tesla confirmed that plans for new, more affordable vehicle models remain on track for production in the first half of 2025, though it acknowledged that these models may lead to less dramatic cost reductions than previously expected. Even with trade headwinds, the company reiterated a growing need for energy storage solutions across markets.
“In its current form, the Department is bloated, bureaucratic, and unable to perform its essential diplomatic mission..”
• Rubio Announces MAJOR State Department Overhaul (PJM)
Secretary of State Marco Rubio made a huge announcement on Tuesday regarding the State Department and the Donald Trump administration’s “America First” agenda. It’s being called the biggest shakeup at State in decades. “Today is the day,” Rubio began in a post on X, adding, “Under @POTUS’ leadership and at my direction, we are reversing decades of bloat and bureaucracy at the State Department. These sweeping changes will empower our talented diplomats to put America and Americans first.” The post included an official statement from the State Department, which reads (emphasis mine): We are facing tremendous challenges across the globe. To deliver on President Trump’s America First foreign policy, we must make the State Department Great Again. In its current form, the Department is bloated, bureaucratic, and unable to perform its essential diplomatic mission in this new era of great power competition.
Over the past 15 years, the Department’s footprint has had unprecedented growth and costs have soared. But far from seeing a return on investment, taxpayers have seen less effective and efficient diplomacy. The sprawling bureaucracy created a system more beholden to radical political ideology than advancing America’s core national interests. That is why today I am announcing a comprehensive reorganization plan that will bring the Department into the 21st Century. This approach will empower the Department from the ground up, from the bureaus to the embassies. Region-specific functions will be consolidated to increase functionality, redundant offices will be removed, and non-statutory programs that are misaligned with America’s core national interests will cease to exist. Under President Trump’s leadership, we have a commander in chief committed to putting America and Americans first. As his Secretary of State, I am confident a reformed State Department will meet the moment and help make our country great once again.
So what exactly does a “comprehensive reorganization” of the State Department look like? According to The Free Press, which Rubio says has the “real exclusive,” — by the way, how do we get one of those exclusives here at PJ Media? — internal documents show that the Department “will close 132 agency offices, including those launched to further human rights, advance democracy overseas, counter extremism, and prevent war crimes.” That’s a 17% reduction to start. Additionally, “under secretaries at the State Department are also being instructed within 30 days to present plans to reduce their U.S. personnel in individual departments by 15 percent,” including “six top offices employing thousands of people.”
Rubio also wrote about the shakeup in what appears to be a new Substack for the State Department, stating that “The Department has long struggled to perform basic diplomatic functions, even as both its size and cost to the American taxpayer has [sic] ballooned over the past fifteen years. The problem is not a lack of money, or even dedicated talent, but rather a system where everything takes too much time, costs too much money, involves too many individuals, and all too often ends up failing the American people.” He also expanded on a topic I covered last week, the shuttering of the Global Engagement Center — an office that censored U.S. citizens — citing it as just one of many reasons why this overhaul is necessary.
“An example of an out-of-control Department is the Global Engagement Center (GEC) that I shuttered last week. The office engaged with media outlets and platforms to censor speech it disagreed with, including that of the President o the United States, who its director in 2019 accused of employing ‘the same techniques of disinformation as the Russians.’ Despite Congress voting to shutter it, the GEC simply renamed itself and continued operating as if nothing had changed. Unless we confront the underlying bureaucratic culture that prevents the State Department from carrying out an effective foreign policy, while allowing offices like GEC to flourish in the shadows, nothing will change. That is why I am initiating a broad reorganization of the Department to address the steady growth of bureaucracy, duplication of functions, and capture by special interests that have crippled American Foreign Policy.
SCOOP: The Trump administration is launching the biggest shake-up at the State Department in decades, @TheFP has learned.
▶️ Closing 132 offices
▶️Undersecretaries to reduce personnel by 15%
▶️Moving 137 offices
+More pic.twitter.com/krPa8pnddw— Gabe Kaminsky (@gekaminsky) April 22, 2025
“Courage means feeling fear but behaving in a way that is noble and good..”
• Trump’s Courage to Fight the Good Fight (DS)
When the White House invoked the “Immortal Chaplains” to illustrate the history between the United States and Greenland, it touched on a theme emerging in the second Trump administration: the importance of courage. On Feb. 3, 1943, the American steamship SS Dorchester embarked with 902 souls—soldiers, merchant seamen, and civilians—bound for a U.S. Army base in southern Greenland to support the buildup of military personnel during World War II. The ship’s captain ordered those on board to sleep in their uniforms and life jackets in case of an attack by German submarines, but many disregarded the order because of heat from the ship’s engine. Just after midnight, a U-boat’s torpedo slammed into the Dorchester’s starboard side below the water line. Four Navy chaplains—a rabbi, a Methodist minister, a Catholic priest, and a Protestant reverend—gave up their own life vests and guided panicked crew members to the lifeboats.
The Dorchester sank in 20 minutes. One of the 230 survivors later recalled what he saw as he swam away from the ship: “The bow came up high and she slid under. The last thing I saw, the four chaplains were up there praying for the safety of the men. They had done everything they could.” Courage means feeling fear but behaving in a way that is noble and good, as the chaplains did when they acted on their deepest convictions aboard the Dorchester. Donald Trump once wrote that courage is not the absence of fear but “the ability to act effectively, in spite of fear.” In 2016, Trump showed moral courage when he spoke the truth to American voters: A parasitic “establishment” of political and corporate interests had been exploiting our workers, farmers, and soldiers. When Trump challenged 16 opponents in the Republican primary, he exposed untruths in a conservative orthodoxy passed down from Ronald Reagan through George W. Bush.
Establishment foes hounded him with investigations and impeachment proceedings throughout the four years of his presidency, but Trump refused to compromise his principles or check his ambition to “make America great again.” Emboldened by Joe Biden’s inauguration in 2021, the establishment connived to use the 14th Amendment to prevent Trump from running for president a third time. They leveled charges against him in two federal district courts, tried him in a New York state court, and indicted him in Georgia for alleged RICO Act violations. Though Trump was unbowed, his campaign manager, Susie Wiles, was concerned: “I just worry that if they can’t get him this way, they’ll try to kill him.” And that almost happened on July 13 at the fairgrounds in Butler, Pennsylvania, when an assassin’s bullet grazed Trump’s ear.
Where Trump modeled courage, the establishment shows only cowardice—their decade-long effort to destroy Trump has been prosecuted from the shadows, hiding behind the anonymity that bureaucratic power affords. They falsely claimed that Trump “colluded” with Vladimir Putin and Russia. They used a cloak-and-dagger plan to scuttle the Supreme Court nomination of Brett Kavanaugh in 2018. And, in 2022, someone leaked a copy of the Dobbs decision overruling Roe v. Wade. In spite of Chief Justice John Roberts’ promise, the leaker remains unidentified and unaccountable. Some say that Trump’s opponents exemplify courage in their bold attacks on his character and reputation. But talk doesn’t make them courageous, least of all because it costs them nothing. Their admonitions are purely performative means to curry favor with the media and the establishment at large, which are viciously opposed to Trump’s reforms.
There is nothing courageous about yelling “F–k Trump” into a microphone. Whatever force it has in the political sphere depends on showing that the saying is accompanied by a doing. Trump’s been talking tough for years and backs it up by action of some kind. In the moment that he rose to his feet in Butler, with his face bloodied and yelling, “Fight! Fight! Fight!,” he gave the final proof that he’s more than a tough talker. Biden’s presidency is a rich example of cowardice: Insiders worked for years to conceal that the sitting president was incapable of executing the duties of the office. In the book “Fight: Inside the Wildest Battle for the White House,” longtime political reporters Jonathan Allen and Amie Parnes pull back the curtain on Biden’s presidency, detailing how his staff stage-managed a declining president and hid his impairment from the American people. Biden “lived in bubble wrap inside bunkers,” the authors write.
Though “the signs of decline were clear to anyone who was willing to see them,” Biden’s inner circle believed that “no one walks away from the house, the plane, the helicopter,” so, onward they went. When the scam was exposed at the presidential debate last June, the power players in Washington again retreated to the secrecy of the back room and hatched a scheme to cede the delegates that Biden had secured to nominate a candidate of their choice rather than the people’s choice. For decades, presidents talked about moving the U.S. embassy in Israel from Tel Aviv to Jerusalem, but no one did until Trump. For years, Chuck Schumer, Nancy Pelosi, and Bernie Sanders called for tariffs to restructure world trade. But when Trump did what he said he would do and imposed tariffs? That was all it took for the same people to discover their opposition to tariffs.
The cowardice of Biden and the leading lights in the Democratic Party contrast sharply with the new administration. Trump and many others have gambled their reputations, fortunes, and future interests on a bold but polarizing agenda. They face the American people, every day, openly and fearlessly. For Trump, the most important quality for aides and Cabinet members is not loyalty but courage—and the willingness to pay a price for things that matter.
Turns out, the border is a problem only if you invite people over.
• How Trump ‘Restored Law and Order’ to US Borders (Allen)
The House Homeland Security Committee released its latest “Border Brief” Tuesday, highlighting significant changes at the border since President Donald Trump took office, and a staggering year-over-year decline in the number of illegal immigrants attempting to enter the United States. “Southwest border crossings have hit another record-low because we now have a president and [a Department of Homeland Security] secretary who enforce the law,” Rep. Mark Green, chairman of the House Homeland Security Committee, told The Daily Signal. “In less than three months, President Trump has restored law and order to our nation’s borders, removed criminal illegal aliens from our communities, and helped ensure the safety of the American people by empowering Department of Homeland Security law enforcement to do their jobs,” according to a committee press release.
In March, encounters with illegal aliens between ports of entry at the southern border fell by 94% compared to March 2024. Customs and Border Protection encountered 29,065 illegal aliens nationwide last month, down 88% from the 246,505 encountered in March 2024. Border Patrol’s daily apprehensions nationwide were the lowest in recorded history in March, averaging 264, a 94% decline from the previous year. The House Homeland Security Committee credits the decline in illegal crossings to the “Trump administration’s sustained deployment of military and federal law enforcement across the Southwest border, as well as partnerships with countries like El Salvador.” Since Jan. 20, the Trump administration has deployed thousands of troops and additional military resources to the southern border. The U.S. also formed an agreement with Salvadoran President Nayib Bukele to house deported illegal aliens in El Salvador’s Terrorism Confinement Center.
The Trump administration has also ended various parole programs set in place or expanded under the Biden administration, such as the CBP One mobile application that allowed illegal aliens to schedule an appointment at a port of entry to claim asylum. The result of ending the Biden administration’s parole programs, according to the House committee, is an 80% decline in migrant encounters at U.S. ports of entry since March 2024. The daily average of known “getaways,” illegal aliens who manage to evade Border Patrol apprehension, has also fallen by more than 90% since Trump took office. Last week, a Maryland jury found Victor Martinez-Hernandez, a reported illegal alien gotaway from El Salvador, guilty of murdering Rachel Morin, a mother of five. The number of unaccompanied alien children arriving at the southern border declined by 92% last month when compared with March 2024.
Border Patrol has also witnessed a 97% year-over-year decline in the number of Chinese nationals crossing the southern border between ports of entry. Rather than “commending this return to law and order,” Green, R-Tenn., said his “colleagues across the aisle are working to defend an illegal alien MS-13 gang member who was rightfully removed from our country.” Democrats are advocating for the return of Kilmar Armando Abrego Garcia, an illegal alien with ties to MS-13 who the Trump administration recently deported to a prison in El Salvador. Some Democrats, such as Mayland Sen. Chris Van Hollen who traveled to El Salvador to meet with Abrego Garcia, claim the man was wrongfully removed from the U.S. “To the American people, the contrast could not be clearer,” Green continued.
“Make no mistake—our communities are safer because the Trump administration has empowered DHS law enforcement to do their jobs, remove violent criminals, and dismantle the cartels’ business model. Now, Congress must codify President Trump’s homeland security agenda and provide the necessary funding to continue successfully securing our borders.” The House Homeland Security Committee’s March “Border Brief” celebrates the 32,809 arrests of illegal aliens at the hands of Immigration and Customs Enforcement officers during the first 50 days of the Trump administration. The nearly 33,000 arrests included “14,111 convicted criminals, of whom 1,155 were criminal gang members, as well as 39 aliens on the Terrorist Screening Data Set,” according to the committee. ICE has also arrested more than 300 members of the violent prison gang Tren de Aragua since Trump took office.
The committee in April advanced legislation introduced by Rep. Marjorie Taylor Greene, R-Ga., that would require the DHS to publish the known number of special interest aliens, that is illegal aliens who pose a possible national security risk to the U.S., who cross U.S. borders. In its first border-related hearing of the 119th Congress, the committee highlighted the changes at the border during a Border Security and Enforcement Subcommittee hearing on March 28, aimed at showcasing the Biden administration’s “failure” at the border. “President Trump continues to deliver on the promises he made to secure our border,” Rep. Michael Guest, R-Miss., told The Daily Signal. “As the chairman of the Subcommittee on Border Security and Enforcement, I am honored to have the opportunity to work alongside President Trump to continue delivering results for the American people.”
Woke has bankrupted Hollywood. Or almost. Bad for business.
• Woke Blackout in Tinseltown (Ryumshin)
The conservative winds that have swept across America since January 20, 2025 have reached all the way to California. Hollywood, once the global capital of progressive values, is rapidly turning its back on the previous narrative. Transgender characters are quietly being cut from scripts, LGBT-themed productions shelved, and studios are shifting toward content with Christian and family-oriented values. Entire projects have been dropped. Others are being rewritten on the fly to avoid positive portrayals of LGBT characters. Just a year ago, such a reversal seemed unthinkable. Hollywood, which had long been synonymous with ‘woke’ ideology, appeared firmly entrenched in its liberal agenda. Anti-Trump themes were being churned out with near industrial efficiency, and conservative attempts at counter-programming lacked the budget or reach to compete. In the cultural trenches, liberals were not just winning, they were dominating. But now, studios are backing off.
The liberal press, already ringing alarm bells, has pinned the blame squarely on Donald Trump. In this rare case, they might have a point. Following his re-election, President Trump wasted no time in asserting ideological control. He signed executive orders recognizing only two genders, reinstated the ban on transgender individuals serving in the military, and scrapped federal Diversity, Equity, and Inclusion (DEI) guidelines. In the cultural sphere, he made a bold appointment: Brendan Carr, a staunch Trump supporter and co-architect of the ‘Project 2025’ conservative reform blueprint, was named chairman of the Federal Communications Commission (FCC). The FCC might seem bureaucratic, but under Carr, it has become a powerful cultural weapon. Investigations were quickly launched into media outlets seen as hostile to Trump.
Disney, one of the most vocal progressive corporations, was accused of violating equal opportunity laws through its DEI policies. After making some adjustments, Disney still found itself under pressure, with Carr even threatening to revoke ABC’s broadcasting license. The result? Rapid, widespread self-censorship. Studios aren’t backpedaling because they’ve had a change of heart, they simply don’t want to attract the regulatory wrath of Washington. Amazon, led by Jeff Bezos, was ahead of the curve. Bezos cultivated ties with the Trump camp, quietly axed DEI advisors, and began investing only in “safe” content. The reward? Government scrutiny vanished. Still, it would be unfair to credit Trump alone for Hollywood’s pivot.
The shift had begun before the 2024 election, driven by cold economic realities. The traditional business model of cable TV is collapsing. Streaming services, flooded with progressive content, have failed to turn a profit. Worse, many of those “inclusive” productions have sparked controversy, underperformed at the box office, and alienated large swathes of the audience. Family-oriented and religious films, by contrast, often require modest budgets and cater to a mainstream audience. Conservative content, it turns out, is not just safer – it’s more profitable. There’s also the matter of public fatigue. Americans are tired of being lectured. Box office returns, streaming numbers, and network ratings all tell the same story. Once-dominant liberal cable channels are in freefall. As of December 2024, CNN and MSNBC had lost half their prime-time audiences, plunging to 30-year lows.
Fox News, meanwhile, is thriving. So are conservative-leaning podcasters like Tucker Carlson and Joe Rogan, now the dominant voices in America’s ‘new media’ landscape. None of this is a coincidence. The broader cultural and economic environment in the United States has shifted. Hollywood’s liberal monopoly was unsustainable, both financially and ideologically. Trump’s return to power merely accelerated a transformation already underway. Will this rightward turn change the face of global culture? Almost certainly. Will it return Hollywood to its former glory? Time will tell. But what is already clear is that the old narrative is dead – and the new one is being written with a red pen.
“..the total collapse which is about to happen, is not “Trump’s fault”. He just happened to be the right person to execute the inevitable downfall of a major monetary era. But even if it is not his fault, history will unfairly blame him as the villain who brought the world economy down, and thus see him as probably the worst president in history. So not the best of timing for Mr Trump.”
• The Big Short and The Bigger Long (Egon von Greyerz)
For at least 35 years, the monetary system has been telling us that the current era is coming to an end. That means a debt collapse, a currency collapse and a collapse of most bubble assets like stocks and property. THUS THE BIG SHORT! As I am writing this on Easter Monday, the Dow is down 1,100 points (2.9%) and the Nasdaq is down 3.3%. Anyone who buys the dips will be slaughtered. As I have said for a very long time, before this is over, stocks will be down 90-99% in real terms, which is gold. More importantly, this total collapse has very little to do with TRUMP. More later.
And don’t for a moment believe that gold is overvalued. As many have used conventional technical tools to predict a gold correction, I have been saying for a long time that gold is in an acceleration phase and will reach multiples of the current price. (Yes, of course, there will be corrections on the way up, but most probably not yet.) THUS THE BIG LONG! As many have used conventional technical tools to predict a gold correction, I have been saying for a long time that gold is in an acceleration phase and will reach multiples of the current price. (Yes, of course there will be corrections on the way up but most probably not yet). THUS THE BIG LONG!
END OF A MONETARY ERA The end of a monetary era is always the same, with bubble assets going up in smoke. The majority of investors haven’t got a clue what is happening. They are hanging on to their stocks, hoping that Trump will save them by firing Powell and telling the next Chairman of the Fed to lower interest rates. But the time of manipulating rates is over. The market will now determine rates, which it should always do. And with uncontrollable debt escalation in the US and many other countries, the cost of debt can only go one way – UP! Remember, there is only one buyer of US debt, which is the Fed. But the Fed can only buy debt if the US government issues more debt. And therein lies the crux. More debt must be created in a futile attempt to save the ever-growing and out-of-control finances of the US. This is without doubt the biggest Ponzi scheme in history. Madoff would certainly have enjoyed it.
And still, it would have been so easy, as all of this has been totally predictable. To paraphrase Churchill, the more you study history, the more self-evident the future becomes. Still no government, no central banker, no journalist and virtually no market student spends any time on learning from the past. Why, why, why, you ask yourself. Well, it is clearly sheer arrogance in believing that we know better today and that we have better tools. And of course, “The times are different today”. Hmmm! But they are not and have never been. Every monetary system has collapsed in history, and every currency has gone to ZERO, without fail. As I witnessed Greenspan’s expansionary policy after the property market collapse in the 1990s and how debt and derivatives quickly continued to grow, I was certain that we were seeing the end of a major monetary system.
I had, since the late 1980s, been convinced that gold was the best insurance against yet another coming failure of the monetary system. As major central banks like the UK and Switzerland were selling their gold in the mid to late 1990s, it was clear that we were near the bottom. So we waited until the 1999 gold bottom at $250 and confirmation of the gold price recovery in the early 2000s before buying physical gold. BACK TO TRUMP – the culprit. But everything is, of course, Trump’s fault! All the misery hitting the world now is due to Trump’s capricious actions. Here are just a few examples of how TRUMP is now wrecking not just the US but the whole world economy, according to the general public as well as the media and politicians in most countries:
Stocks crashing, bonds crashing, rates up, dollar crashing, trade wars with massive daily tit for tat yo-yo swinging tariffs between 10% and 145%, much higher Inflation, collapse of global trade etc, etc. Yes, all of the above is happening and much more and it is all Trump’s fault.But is it really? No, Trump is not the culprit. Instead, Trump happens to be the catalyst. An absolutely superb analysis of the US-China trade war was given by this very acute Chinese influencer: “Leaders are instruments of their time, and they appear at the time in the cycle to carry out what was going to happen anyway.
Just like Thatcher and Reagan were the right leaders to lead the upturn in the early 1980s, Trump is perfect for creating the havoc and chaos that comes with the end of a major monetary era. What is happening in the US and global economy today, and the total collapse which is about to happen, is not “Trump’s fault”. He just happened to be the right person to execute the inevitable downfall of a major monetary era. But even if it is not his fault, history will unfairly blame him as the villain who brought the world economy down, and thus see him as probably the worst president in history. So not the best of timing for Mr Trump.
On July 4, 2026, we will celebrate 250 years of American Independence.
The White House has partnered with @Hillsdale to tell our story of a rag-tag army defeating the world's mightiest empire and establishing the greatest republic ever to exist.
Here is the first installment. pic.twitter.com/TPbyBEAyht
— Rapid Response 47 (@RapidResponse47) April 22, 2025
ivm
The FDA has now endorsed treating COVID with Ivermectin!
How many people died because they were not allowed to use this or even talk about it? pic.twitter.com/EVDtEdbc4b
— skymeds store | Online Ivermectin Pharmacy (@skymeds_store) April 22, 2025
Malhotra
"Why are people not awake" – Dr Aseem Malhotra says it's a side effect.
The World Health Organization and Pfizer knew about the "change in personality" some people experienced post mRNA vaccination, the "side effect" of "Psychosis" pic.twitter.com/oAdM3crl7B
— Humanspective (@Humanspective) April 21, 2025
Hotez
OMG. In five years of Covid, this video montage is the most powerful, explosive, and illuminating to date. How any person in the United States can watch this and still remain unconvinced of the insanity and corruptabity of our public health authorities, may God help you because I… https://t.co/4RVUmDmSI5
— Pierre Kory, MD MPA (@PierreKory) April 22, 2025
https://twitter.com/DiedSuddenly_/status/1914837101486518732
Phone
“If you’ve got a Kid – don’t ever let him put a cellphone by his head”
“If you have a Girl don’t ever let them carry a phone in their breast pocket or near their ovaries”
Holy Crap RFK Jnr is telling some extremely uncomfortable truths here. pic.twitter.com/sWv3b18YCT
— Concerned Citizen (@BGatesIsaPyscho) April 21, 2025
Mom
What does this analogy make you think of? pic.twitter.com/KgNeo9BQ6a
— TaraBull (@TaraBull808) April 22, 2025
Goose
His goose friends are never gonna believe him pic.twitter.com/j4hwWVlVqu
— greg (@greg16676935420) April 21, 2025
https://twitter.com/Lin11W/status/1914406273602277705
Feynman
"I can live with doubt and uncertainty and not knowing. I think it is much more interesting to live not knowing than to have answers that might be wrong."
– Richard Feynman pic.twitter.com/13Me53raG1
— Prof. Carl Sagan (@ProfCarlSagan) April 21, 2025
There's no such thing as MIRACLE, Richard Feynman advice to students. pic.twitter.com/rBfvhLDZQc
— Prof. Carl Sagan (@ProfCarlSagan) April 22, 2025
Goats
https://twitter.com/Rainmaker1973/status/1914628619722281004
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