EV Archives - The Automatic Earth

U.S. Treasury Secretary Scott Bessent was abruptly pulled from a live interview after being told “the President wants you right away.”

After returning, his voice was noticeably shaken. pic.twitter.com/jx5CamFi03
— Clash Report (@clashreport) March 13, 2026

He has some info on that which he holds behind.

• Iran’s New Supreme Leader Wounded, Likely Disfigured, Hegseth (Reuters)

Iran’s new Supreme Leader Mojtaba Khamenei is wounded and likely disfigured, U.S. Defense Secretary Pete Hegseth said on Friday, questioning Khamenei’s ability to govern after nearly two weeks of U.S. and Israeli attacks on Iran. No images have been released of Khamenei since an Israeli strike at the start of the war that killed much of his family, including his father and wife. The Reuters Iran Briefing newsletter keeps you informed with the latest developments and analysis of the Iran war. His first comments came in a statement read out by a television presenter on Thursday. In the statement, he vowed to keep the Strait of Hormuz shut and called on neighboring countries to close U.S. bases on their territory or risk Iran targeting them. ntinue

“We know the new so-called not so supreme leader is wounded and likely disfigured. He put out a statement yesterday. A weak one, actually, but there was no voice and there was no video. It was a written statement,” Hegseth told a briefing. “Iran has plenty of cameras and plenty of voice recorders. Why a written statement? I think you know why. His father – dead. He’s scared, he’s injured, he’s on the run and he lacks legitimacy.” An Iranian official told Reuters on Wednesday that the newly appointed supreme leader was lightly injured but was continuing to operate, after state television described him as war-wounded.
Hegseth was joined by General Dan Caine, the chairman of the Joint Chiefs of Staff, at a briefing in which they emphasized U.S. military strikes to knock out Iran’s missile and drone capabilities and its navy. ‘NO QUARTER’ During the briefing, Hegseth said that the United States would show no mercy in the war. “We will keep pressing, keep pushing, keep advancing. No quarter, no mercy for our enemy,” Hegseth said. “No quarter” is the refusal to spare the life of someone who has expressed their intention to surrender – something prohibited by law. “International humanitarian law prohibits the use of this procedure, that is, ordering that there shall be no survivors, threatening the adversary therewith, or conducting hostilities on this basis,” according to the International Committee of the Red Cross (ICRC).

“The February 28 airstrike that took out Ali Khamenei also killed his wife, his daughter, Mojtada’s wife, Ali Khamenei’s son-in-law, and at least three grandchildren.”

• Mojtaba Khamenei Is Nowhere to Be Seen (Rick Moran)

Mojtaba Khamenei, the new Supreme Leader of Iran, was “elected” Supreme Leader of Iran on March 8. In fact, the Assembly of Experts, the body charged with electing the Supreme Leader, met virtually only once and then only to confirm Mojtaba’s choice as leader. Reports from sources like Iran International indicate that the Islamic Revolutionary Guard Corps (IRGC) applied significant “psychological and political pressure” on the clerics to ensure a quick victory for Mojtaba, aiming for regime continuity during the war. Khamenei the Younger is a cutout, a stand-in for the IRGC. On March 9, the regime held “Allegiance rallies” to “celebrate” Khamenei the Younger’s elevation (installation?) to the Islamic version of the Peacock Throne.

At the rally in Tehran’s Revolutionary Square, a life-sized cardboard cutout of Mojtaba was hauled on stage to be properly venerated. “State media broadcast regime loyalists hailing and swearing allegiance to a cardboard Khamenei,” writes Amit Segal of The Free Press. If that’s not bizarre enough, consider this: the only word we’ve heard from Mojtaba Khamenei was third-hand. The first Official Statement was written only and read by an anchor.mIs Mojtaba Khamenei still alive? The February 28 airstrike that took out Ali Khamenei also killed his wife, his daughter, Mojtada’s wife, Ali Khamenei’s son-in-law, and at least three grandchildren. Mojtaba was injured, according to the official reports, on his legs, hands, and arms.
“At the most critical juncture in the history of the Islamic Republic, its new Supreme Leader is a ghost,” reports WOIN. The fact that Khamenei did not use his own voice in the statement poses a significant problem for intelligence agencies.Even if Tehran eventually releases an audio tape claiming to be Mojtaba, there is almost zero baseline to verify it. He has spent his entire adult life operating in the shadows of the security establishment. In fact, the only publicly known recording of his voice in existence is a brief, years-old, one-minute clip of him telling seminary students that his theology classes were canceled.In today’s AI world, anyone can use an AI software like Elevenlabs and create an entire speech in Khamenei’s voice just for $11 a month.
Audio is the easiest medium to manipulate in the world of AI and a country obsessed with camera and public appearances using audio tapes, is raising suspicions among the experts. And down the rabbit hole we go. “Iranian opposition groups in the diaspora are openly claiming that Mojtaba is actually in a deep coma, being treated in absolute secrecy,” according to the WOIN report. “The theory suggests the Islamic Revolutionary Guard Corps (IRGC) forced the Assembly of Experts to name Mojtaba as leader to maintain a facade of dynastic stability.”If Khamenei is dead or in a coma, who is in charge? The same people who have been in effective control of Iran for the last 30 years: the Revolutionary Guard Corps senior commanders.
Amit Segal writing in The Free Press: “The truth is that even if the conspiracy is false and Khamenei is only suffering from minor leg injuries, that may still be the case. It is far from unheard of for the successor to a powerful dictator to serve primarily as a military figurehead. The regime needs Khamenei to have a pulse, but not much more. In a Freudian slip early in the war, Iran’s foreign minister claimed that the attacks on neighboring states were “not our choice,” indicating that IRGC elements may have acted independently of the government.
The regime’s official narrative is that Khamenei is being kept away from the public for security reasons. Israel has already announced its intention to reunite the son with the deceased father. But if this is truly about security, it is still a dangerous game. There are times when absence increases a leader’s mystique—a regime in crisis is not one of them. Since Khamenei’s election in 1989, the Revolutionary Guard Corps has been aggrandizing power unto itself. They’ve appropriated most of the largest and most profitable businesses, giving pieces of the corporations to favored clerics and military commanders.
Following the death of the Supreme Leader, the Guards really turned the screws on the Assembly of Experts.“The pressure from the Revolutionary Guard to announce Mojtaba Khamenei as his father’s successor as quickly as possible was so intense that the IRGC Intelligence Organization forced several dissenting members of the Assembly of Experts into this choice by threatening them and their family members. Their silence following the selection is likely a result of those same threats,” according to Iran Wire.

“ICE continuously reports progress made across the United States with new arrests every single day – and no, not in a “Gestapo” manner. More like “we know which criminals to track down and arrest” manner. Just look at their track record.”

• There Are Many Who Complain About ICE (Michael A. Letts)

Negative talk about ICE agents these days is very commonplace. Just take a good look at social media and across various news outlets. You’ll see it everywhere. “They’re causing chaos in Minneapolis!” But you know what you don’t see with all this negative talk? What they’re actually doing when it comes to their job.President Donald Trump didn’t put this group together just to spite the American public. He put them together to make a difference and clean up the mess left behind by Joe Biden – that mess being the hundreds of thousands of illegal immigrants that seeped their way into the United States thanks to his lazy border policies.

And while they all aren’t criminals, a good portion of them all – including a number of child sex offenders. The worst of the worst, if you ask me. After all, these are full-grown men who are going after kids. And abusing them in the most awful way you can imagine. Well, good news, folks. Based on this report, ICE has really cracked down on this particular group of criminals. ICE Enforcement and Removal Operations Houston recently arrested 414 criminal illegal aliens charged with child sex offenses of some kind during Trump’s first year in office. That’s nearly twice the amount of similar predators arrested during the final year of the Biden administration, when he was scrambling to make up for his previous years of screw-ups. (Only 211 were arrested at that time.)
“While elected officials and media pundits across the country were zealously trying to manipulate the American public with fake news stories about ICE’s public safety mission, the brave men and women of ICE were quietly going about their business to arrest and remove more than 400 dangerous child predators from our local communities,” ICE ERO Houston acting Field Office Director Gabriel Martinez noted in a statement. “Thanks to their tireless efforts, parents across southeast Texas can sleep a little better tonight knowing that these pedophiles and child rapists are no longer a threat to their children.”
And keep in mind that this is only one specific city. ICE continuously reports progress made across the United States with new arrests every single day – and no, not in a “Gestapo” manner. More like “we know which criminals to track down and arrest” manner. Just look at their track record. But this is nothing new. Law enforcement officials have always buckled down in the face of criticism and continued doing the job to the best of their ability – even when the tide was turned against them.
This reminds me of several years ago when the “defund the police” campaign kicked off following the death of George Floyd. Because of the act of a certain few, thousands of police officers went through a wave of hatred and unfair restraint at the hands of foolish Democratic officials who felt the need to drain their funds in favor of other programs. And why? Online hatred. But while some of these officers retired or simply didn’t want to deal with such restraints anymore, many persevered. In the face of this newfound hatred, they continued doing their job – and effectively, as such. And because of that, many of these officers remain in the field, continuing to fight for what’s right – despite what’s being said about them.
That’s kind of the point overall here. ICE is facing all sorts of criticism, a majority of it undeserved. But they’re still persistent in getting the job done. As a result of this, over 400 criminals are headed back to their home countries – and, again, this is just from one region of the United States. Imagine the overall effectiveness of the program, which goes into thousands or higher. Say whatever you want about law enforcement officials. It’s your right to have an opinion. Just keep in mind it’s an opinion. The facts are right there. ICE is getting the job done. Police are getting the job done. Anyone can say whatever they want. But remember, actions speak louder than words. Here’s to the actions of our law enforcement officials. Keep going!

Tariffs still.

• Sec 301 Trade Investigations Into 16 Economies Including The EU (CTH)

When the Supreme Court made their ridiculous decision to nullify the import tariffs under the International Emergency Economic Powers Act (IEEPA) use, the high court noted several alternate approaches would not be legally problematic. One of those approaches would be the use of Section 301 trade tariffs. Yesterday USTR Jamieson Greer quietly announced that a Section 301 review would be taking place for the following countries: China, the European Union, Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, Korea, Vietnam, Taiwan, Bangladesh, Mexico, Japan, and India.” Section 301 tariffs are a trade enforcement mechanism established under the Trade Act of 1974. They allow the U.S. government to impose tariffs on imports from countries that are found to be engaging in unfair

USTR PRESS RELEASE – WASHINGTON — Today, United States Trade Representative Jamieson Greer announced the initiation of investigations regarding the acts, policies, and practices of various economies under Section 301(b) of the Trade Act of 1974 relating to structural excess capacity and production in manufacturing sectors.The investigations will determine whether those acts, policies, and practices are unreasonable or discriminatory and burden or restrict U.S. commerce. The economies subject to these investigations are: China, the European Union, Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, Korea, Vietnam, Taiwan, Bangladesh, Mexico, Japan, and India.
“The United States will no longer sacrifice its industrial base to other countries that may be exporting their problems with excess capacity and production to us. Today’s investigations underscore President Trump’s commitment to reshore critical supply chains and create good-paying jobs for American workers across our manufacturing sectors,” said Ambassador Greer.
“The Trump Administration’s reindustrialization efforts continue to face significant challenges due to foreign economies’ structural excess capacity and production in manufacturing sectors. Across numerous sectors, many U.S. trading partners are producing more goods than they can consume domestically. This overproduction displaces existing U.S. domestic production or prevents investment and expansion in U.S. manufacturing production that otherwise would have been brought online. In many sectors, the United States has lost substantial domestic production capacity or has fallen worryingly behind foreign competitors.”
Additionally, Section 232 [Steel and Aluminum examples] of the Trade Expansion Act of 1962 (19 U.S.C. §1862, as amended) authorizes the President to impose trade restrictions—such as a tariff or quota—if the Secretary of Commerce determines, following an investigation, that imports of a good “threaten to impair” U.S. national security. Section 232 is currently covering all the steel and aluminum import tariffs. Section 122 of the Trade Act of 1974 allows the U.S. president to impose tariffs of up to 15% to address “large and serious” balance-of-payments deficits. This authority can be exercised without prior congressional approval for a limited duration of 150 days. After this period, any tariffs must be extended by Congress.
Section 122 has already been deployed to retain the “baseline reciprocity tariffs.” USTR Greer is now walking through the process of deploying Section 301 and will eventually become the legal underpinning to replace Section 122 and retain all tariff status without congressional extension needed. Most of this is technical and legal compliance as several of the aforementioned nations have already finalized free trade agreements.

A very practical meeting. In the same way that sanctions are unpractical.

• Witkoff and Kushner Meet Russian Delegation in Florida (CTH)

The fact that Team Russia and Team USA would be discussing a strategic economic alliance on the issue of energy is not a surprise to those who watched both President Putin and President Trump outline that same content discussion in Alaska last August. However, given the current conflict with Iran and the escalating oil price issue, Russia and the USA discussing Russian oil capacity and U.S. sanctions therein takes on a new angle.

It has been obvious that domestic U.S. politics, in combination with the Russia-Ukraine war, has impeded President Trump from organizing a strategic reset with Russia pulling away from historic conflicts. However, CTH is also clear-eyed on the longer-term ramifications for Eastern Europe when contrast with Putin’s ambitions to fix what he perceives as prior Russian Federation mistakes regarding the West (more on that at the end). As noted in social media exchanges from Witkoff and Dmitriev, the discussion was productive.

All indications of this meeting give the appearance of less focus on progress in the Ukraine-Russia conflict, and a higher focus on current economic conditions -created by the Iran conflict- that could be enhanced with cooperation between the U.S. and Russia. According to Kirill Dmitriev, Russian special presidential envoy for investment and economic cooperation with foreign countries and director general of the Russian Direct Investment Fund (RDIF), relayed through the Russian News Agency (TASS), “he visited the US upon orders from Russian President Vladimir Putin, taking part in a meeting of the heads of a working group on economic cooperation between the two countries.”
According to the envoy, the meeting addressed both promising projects that can help restore Russia-US relations and the current crisis on global energy markets. The US is becoming increasingly aware of the role of Russian oil and gas in ensuing the stability of the world economy, as well as of the [in]effectiveness of sanctions against Russia, Dmitriev said after the meeting. “We discussed promising projects that could contribute to the restoration of Russian-American relations and the current crisis on global energy markets,” Dmitriev also wrote in a Telegram post. “Today, many countries, primarily the United States, are beginning to better understand the key, systemic role of Russian oil and gas in ensuring the stability of the global economy, as well as the ineffectiveness and destructive nature of sanctions against Russia.”
With the strong likelihood that Russia’s restart of their flagship LNG terminal Arctic-2 was directly related to the August summit in Alaska {SEE HERE}, there is already a baseline established for strategic cooperation President Trump would have no problem with Russia introducing millions of barrels of oil into the global market given the issues created by conflict in/around the Strait of Hormuz. However, obviously the issues for streamlined Russia oil exports surround (1) preexisting sanctions, (2) domestic U.S. anti-Russia politics and (3) the political and economic position of the anti-Russia European Commission leadership.
As we previously outlined with the Liquified Natural Gas (LNG) benefit, Russia previously extracted, liquified and pumped massive amounts of LNG into floating storage platforms from Arctic-2. Those LNG supplies doubled and tripled in value in a few days once Qatar shut down their production facilities and are now being sold to various Asian countries.
Europe has a massive energy problem with severely low LNG storage rates and now a shortage of oil, with EU gasoline prices rising much higher & faster than the rest of the world. Europe is facing a severe energy crisis overall and now their preexisting economic troubles are being amplified. More than ever Europe needs the Russian oil/gas, but ridged ideologues will never compromise on their anti-Russia position. They have even steeper sanctions against Russian oil/gas scheduled to trigger at the end of this month. It will be interesting to see how President Trump navigates the potential benefit from Russian energy products into the global market against the backdrop of all the geopolitical angst and political opposition against Russia.
[..] Here’s where/why Trump is being careful and pragmatic. President Trump doesn’t want to see an outcome where Russia is eventually stronger than Europe. There’s not enough frictionless history between the USA and Russia to trust Putin when he says the Federation has no plan to expand into Europe. The USA can/should be strategic allies with Russia. However, it would be much better if a strong Europe existed at the same time. Hence, Vice President Vance and Secretary of State Rubio continuing to emphasize that Europe needs to stop cowering in politically correct wokeness. The EU is destroying itself at the same time Russia is getting stronger.
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Last point, the Lyndon LaRouche team, Promethean Action PAC, are very happy with the ongoing fracture of the USA away from the UK/EU group. However, be cautious around Political Action Committees who say, “President Trump needs people to understand what he is doing” and we are here as his official policy interpreters.
Remember, President Trump doesn’t need policy interpreters.

In the global market.

• Bessent Greenlights Sale Of Russian Oil At Sea To “Promote Stability” (ZH)

In a statement late Thursday on X, U.S. Treasury Secretary Scott Bessent announced that the U.S. will allow countries to purchase Russian crude oil already at sea. The move aims to temporarily boost global supply availability, as the IEA warned earlier that the Middle East conflict has sparked one of the worst energy shocks on record. “To increase the global reach of existing supply, @USTreasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea,” Bessent said.He continued, “This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction.”

.@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime.

To increase the global reach of existing supply, @USTreasury is providing a temporary…
— Treasury Secretary Scott Bessent (@SecScottBessent) March 12, 2026

UBS analyst Nana Antiedu told clients earlier this morning that about 124 million barrels of Russian-origin oil were at sea across 30 locations worldwide. More specifically, Bloomberg analysts said about 30 Russian tankers are in Asian waters and may be available for purchase. These tankers carry about 19 million barrels of Russian crude and 310,000 tons of refined products. Bloomberg data show these Russian tankers are signaling “for orders” or, in other words, have no clear destination yet. They could be unloaded in Singapore or Malaysia.
Robert Rennie, head of commodity research at Westpac Banking, was quoted by Bloomberg as saying, “Of course, any supply helps, but this is a smaller help than it looks.”Rennie estimated that of the 125 million to 150 million barrels of Russian crude on the water, about a third is off China and is likely to end up in storage, while 30 million to 40 million barrels are in India and are likely to be consumed there. Rennie said the rest is in the Mediterranean and the Atlantic. “We are only really talking about replacing maybe four or five days of lost Gulf exports. Sure, it helps, but it is no panacea,” he added. Bessent’s office also issued India a 30-day waiver at the beginning of the month so that New Delhi could buy Russian oil at sea to build reserves and cushion against an oil shock.
Brent crude futures are largely unchanged from when Bessent posted on X overnight. President Trump said the U.S. has “plenty of time” in the Iran war. Brent hovers around $100/bbl as of 0630 ET. The Trump administration has taken several steps to combat triple-digit Brent and WTI prices, including the planned release of 172 million barrels from the U.S. SPR. The release is part of a much larger 400-million-barrel SPR dump worldwide, agreed upon by the 32-nation IEA. This comes as the IEA warned about the worst-ever energy shock to hit the world. Also, the Trump administration is waiving a century-old law that requires U.S. ships to transport goods between American ports, so that domestic supplies can be shifted around more quickly.

Relief at the pump.

• Bessent: “Narrowly Tailored, Short Term Sanction Relief” for Russia (CTH)

President Trump and Treasury Secretary Scott Bessent are facing mounting criticism for creating a window for Russia to sell oil and gas to the global market via “narrowly tailored, short-term” sanction relief. However, few people are putting the issue into context, and the background here is exceptionally interesting. According to the terms announced by Secretary Bessent, the license to sell applies solely to Russian crude or petroleum products loaded onto vessels as of March 12 and is valid through midnight Washington time on April 11.

The sanction relief license to sell will be done in globally recognized petrodollars and applies only to preexisting oil and petroleum products that are already in transit at sea. However, here’s where it gets very interesting and the ramifications are significant. Immediately following the Alaska summit between Russian President Vladimir Putin and President Trump, Russia restarted Arctic-2 LNG terminals and began increasing oil production for storage on ‘floating platforms.’ President Trump met with Putin on August 15, 2025, and the curious increase in Russian production began on August 18, 2025. In the past six months Russia has been pumping sanctioned oil and gas and storing it on ships and mobile sea platforms, seemingly (at the time) with no customers.
Suddenly, against the background of the Iran conflict, all of that previously stored ‘on the water‘ production, now worth double, is authorized for global sale (in petrodollars). Either Russian President Putin is the luckiest guy in the world, or Russia knew something. In 2025 what Russia did following the Alaska summit did not make sense; now it does and the ramifications are stunning.President Trump was looking for a way to organize a strategic partnership with Russia on the issue of energy production but was hampered by the preexisting sanction regime and strong opposition from domestic and international politics. The ‘coincidental’ timing’ of Trump meeting with Putin and then subsequently Russia producing massive amounts of oil and gas for storage on the water suddenly starts to take on an entirely new light.
Did Putin know something was coming, something that would eventually make the Russian over production and ‘on the sea’ storage worth billions. The implications here are quite remarkable; however, they simultaneously explain most of the behaviors since the Iran confrontation began. Media reports highlight that Vladimir Putin was asked about a previous joint agreement for military support between Iran and Russia and why Russia did not respond when Iran was attacked. Foreknowledge would explain that reaction. Additionally, the Russian Federation president never responded to the Trump operation to take down Venezuelan dictator Maduro and seize control over Venezuela’s oil production.
If there was some discussion inferring that a ‘limited sanction relief’ protocol might be possible, that would explain why Russia began storing oil and gas at sea. This fact pattern would also indicate that President Trump’s decision toward Iran was made at least six months ago, with a set of geopolitical events planned between the Alaska summit and the eventual confrontation with Iran. TIMELINE: Trump and Putin meet. Three days later Russia begins pumping oil/gas and storing it at sea. President Trump then triggers the Venezuela western hemisphere security operation; Russia stays silent. President Trump then triggers the confrontation with Iran; Russia rejects involvement. And then two weeks after the Iran confrontation begins, Trump removes sanctions on Russian oil/gas “in transit” at sea.
Suddenly all of the Russian produced and stored product ‘on the water’ has greater value and new customers. Just a coincidence? No way. The United States needs the oil/gas market stability that Russia can provide. Venezuela was/is to Trump as Ukraine was/is to Putin. We’ll keep watching. Enjoy the rest of your day.

Merz doesn’t mind if gas is $3,00. Beating Russia is what counts.

• Merz Slams Trump Admin For Temporarily Lifting Russian Oil Sanctions (JTN)

German Chancellor Friedrich Merz on Friday fumed over the White House’s decision to ease sanctions on Russian oil amid the ongoing Iran war, warning that it would bolster the Russian war effort against Ukraine. “We think that’s wrong,” he said, according to Politico. “There is currently a price problem, but not a supply problem. And in that regard, I would like to know what other factors led the U.S. government to make this decision.” “We want to ensure that Russia does not exploit the war in Iran to weaken Ukraine,” Merz said. “Nor will we allow Moscow to test NATO on its eastern flank and up here in the north.”

Merz made the remarks during a meeting with Norwegian Prime Minster Jonas Gahr Støre. The German chancellor was joined by French President Emmanuel Macron and Ukrainian President Volodymyr Zelensky, both of whom shared his sentiments. The administration lifted sanctions on Russian oil this month on a temporary basis. As of press time, Brent crude oil stood just shy of $100.00 per barrel.

“This study should set off all the alarm bells. It is a societal time bomb. We must not only talk about migration, but also about integration and religion”

• Nearly 1 Out Of Every 2 Muslims Under 40 Has ‘Islamist’ Attitudes (RMX)

A newly released study by the German Federal Criminal Police Office (BKA), nearly 50 percent of Muslims under the age of 40 in Germany hold “Islamist” views, with these Muslims expressing an attraction to Islamism, a preference for Sharia law over the German Basic Law, and harboring anti-Semitic prejudices. The findings, described as “explosive in nature,” were featured in the latest edition of the “Motra Monitor.” The study reports that as of 2025, Muslims in Germany under the age of 40 (45.1 percent) hold “latent or manifestly Islamist attitudes.“ Some German politicians have already voiced their views on the study’s release. Wolfgang Kubicki, a prominent politician in the Free Democrats (FDP) and former MP, stated on X:

“This study should set off all the alarm bells. It is a societal time bomb. We must not only talk about migration, but also about integration and religion. The policy of naively looking away has favored this development. The naivety must stop.” He further stated that “anyone who demands a caliphate is an enemy of democracy. Enemies of democracy without German citizenship must leave the country. Neighborhoods where ghettoization provides fertile ground for radicalization must be restructured. Islamic associations without a clear demarcation from extremists must not be interlocutors for politics. Germany must act secular and self-confident.” He further called for an end to headscarves in schools and other state institutions “not to harass or suspect the wearers, but to make it clear that the only binding source of our values is the Basic Law.”

Bei dieser Studie müssen alle Alarmglocken angehen. Das ist eine gesellschaftliche Zeitbombe. Wir dürfen nicht nur über Migration reden, sondern auch über Integration und Religion. Die Politik des naiven Wegsehens hat diese Entwicklung begünstigt. Die Naivität muss aufhören.
Wer… pic.twitter.com/h7rvl4GjbQ
— Wolfgang Kubicki (@KubickiWo) March 12, 2026

Beyond rising crime rates, terrorism offenses, and demographic change, the soaring numbers of Muslims in Europe also raise fundamental questions about worldview and society.mThe “Motra monitor,” a monitoring system tracking radicalization, spans 598 pages. It is published by the BKA and receives funding from several entities, including the Federal Ministry of the Interior and the Ministry of Family Affairs. While the report addresses various forms of extremism, including right-wing movements, it places a significant focus on Islamist extremism.
Evidence of these tensions surfaced in the summer of 2025 when “young Muslims and radical left-wing Germans occupied the Gutenberg Memorial in Frankfurt to demonstrate against Israel, some of them willing to use violence.“ The study’s researchers highlight a concerning core demographic, noting that “manifest Islamist attitudes are most prevalent among Muslims under 40, at 11.5 percent.“

“History doesn’t move in straight lines. What looks like stagnation can be prelude. Let’s not lose hope.” —RVassil on X

• Order of Battle (James Howard Kunstler)

Don’t lose your shit over mines in the Strait of Hormuz and the oil price shooting up. Iran has many thousands of mines. But something has to lay them out in the water. Iran has no more naval ships. They have small boats. The US can see everything moving on the surface, or sitting at docks. We are blowing them up methodically. The news outlets who want the US to fail in this operation (because: Trump) want you to think that we had no plan for dealing with this problem. That’s not so.

There are very few mines actually laid so far. Tankers are not going through the Strait of Hormuz because their captains are nervous. Their ships and their cargos are worth millions and the insurance costs millions. So, they’re waiting in place, hanging back. The US still has work to do destroying Iran’s shoreline defenses of missile and drone launch sites. Iran is firing all they’ve got left. Whenever they launch something, we see the geo-location on our satellites and radars. The mobile launchers are a little trickier because, obviously, they shoot and move. But they don’t always move fast enough, and there isn’t an endless supply of them.
The US Navy decommissioned its four Avenger-class minesweeper ships in the Persian Gulf in September, 2025, but replaced them with more agile Littoral Combat Ships (LCSs) capable of countering submarines and clearing mines. Two LCS ships — USS Santa Barbara and USS Canberra — quietly deployed in March 2025. An LCS uses an Airborne Laser Mine Detection System and an Airborne Mine Neutralization System via helicopter. In the water, it uses mine-hunting sonar and the Unmanned Influence Sweep System — all operated from unmanned surface vessels. The unmanned sweep vehicle triggers magnetic, acoustic, or combination mines, with the LCS at a safe distance.
The LCS vessels are armed with an 11-cell SeaRAM launcher for point defense that fires Rolling Airframe Missiles — fast, radar-guided missiles designed to knock down incoming anti-ship missiles and drones at short range. They also carry Longbow Hellfire missiles with updated software and hardware specifically to counter drones. The Longbow Hellfire uses radar-guided technology enabling it to engage targets through battlefield clutter, with a range of up to eight kilometers — giving the LCS the ability to engage drones before they get close. The LCS ships will be accompanied by Arleigh Burke-class destroyers equipped with Aegis and full missile defense suites for protection against the full spectrum of Iranian threats.
The oil markets are extremely sensitive to any changes in the oil environment, and war induces the most extreme changes. Even outside of war, weird things happen. April 20, 2020, was the apex of Covid-19 paranoia when everyday life was shutting down all over Western Civ. The price of West Texas Intermediate (WTI) crude oil futures — specifically the May 2020 contract, which was expiring the very next day — crashed to an historic low of negative $37.63 per barrel. That is, sellers were literally paying buyers to take oil off their hands. By the following day, April 21, prices had rebounded back into positive territory, though still at very depressed levels around $10–$15 per barrel.
The current situation with oil in the $100 range is not going to be a one-day event, but it won’t last forever, either, so do your deep-breathing exercises and calm down. Of course, in America right now, a seditious news media will take every opportunity to induce exquisite anxiety in the public-at-large to deflect from the order-of-battle that President DJT is carrying out to 1) improve America’s geopolitical position and relations, and 2) to defeat the forces both external and domestic that seek to wreck the country.
Which is why you might see that the next move in the order of battle will be against the wrecking crew in our own country, including the political figures behind the decade-long conspiracy to undermine the president, the administrative rogues running the “resistance” in government agencies, the Lawfare ninjas queering the justice system, and the big money that funds the hundreds of NGOs attempting to instigate a color revolution here. I have visions of perp walks and indictments coming in on the zephyrs of spring.
It looks just now like Majority Leader John Thune and his RINO herd will trample the SAVE Act (election reform) into failure. But consider that Mr. Trump’s FBI has had more than a month to analyze the Fulton County, Georgia, ballot evidence from the 2020 election (while only last week it seized the Maricopa County, AZ, records, and for all we know the agency also has 2020 ballot evidence from Pennsylvania, Michigan, Wisconsin, and Nevada, too). So, prepare for the public to be shocked and amazed at what has been discovered, and expect to see a sharp attitude change among embarrassed US Senators who will be compelled to come on-board for election reform.
Somewhere in all that, you might expect Cuba to fall — a momentous event, actually, considering the cumulative mischief Cuba’s government has provoked all over the western hemisphere since 1958. We don’t even have to do anything to make it happen, just respond in the aftermath with emergency food and fuel relief, and perhaps some help averting the vengeful slaughter of the old Castro governing network. We don’t want a bloodbath there.

“Ukraine is facing a “financial catastrophe” that could halt its war effort and collapse the economy..”:

Got to feed the ever growing hunger for money.

• Zelensky Plotting Suspending Elections For Years – Media (RT)

Vladimir Zelensky has ordered his advisers to plot out a scenario where elections in Ukraine are suspended and the country commits to years of war, Ukrainskaya Pravda has reported, citing government sources. The tenure of Zelensky and of the Ukrainian parliament has long expired, but the Ukrainian leader has refused to hold elections since early 2024, citing martial law imposed amid the conflict with Russia. The situation has prompted international concerns over the legitimacy of the Ukrainian government, particularly from Moscow, which has repeatedly questioned Zelensky’s authority and suggested he may not be in a position to sign any peace agreement should a deal ultimately be reached.

Ukraine’s European backers want Kiev to continue fighting for up to two more years, though the country is facing a “financial catastrophe” that will consume not only its war budget but also its economy as a whole, the newspaper reported on Thursday. “The Europeans said: ‘Fight for another year and a half or two. We will give you money.’ Under their influence, [Vladimir] Zelensky gave the task to the political leadership to develop a plan to hold off elections in Ukraine for several more years and how the parliament will work in such circumstances,” an anonymous source from Zelensky’s administration told the outlet.
The risk of Kiev running out of cash has been growing rapidly. With a proposed €90 billion ($105 billion) EU emergency loan remaining blocked by Hungary, growing dissent within the Ukrainian parliament has slowed down the adoption of measures needed to receive funding from the International Monetary Fund, the newspaper warned on Thursday. The EU emergency funding scheme ended up derailed amid the oil standoff between Ukraine and Hungary and Slovakia. In late January, Kiev halted the Druzhba pipeline, which used to carry Russian crude to the two EU nations, citing alleged damage to the artery. While Moscow has denied attacking the pipeline, Budapest and Bratislava have accused Kiev of deliberately disrupting supplies for political reasons. Hungary has vetoed the €90 billion loan in retaliation, while Slovakia warned it could opt to block the proposed package as well.

Muslims vs jews in Christian territory.

• Mamdani’s Wife Worked With Author Who Called Jews ‘Rabid Demons’ (Salgado)

New York socialist Mayor Zohran Mamdani’s wife is already in the midst of a scandal about her jihad-aligned views after she was caught liking and promoting posts about Hamas’s Oct. 7 massacre online, but it turns out she also translates that virulent antisemitism into her “art.” Rama Duwaji Mamdani is an artist, but in the socialist trend that all art is politics. One of the works she provided a leading graphic for was an essay by Susan Abulhawa called “A Trail of Soap.” Abulhawa has repeatedly issued the most outrageous accusations against and labels of Jews, including an unhinged rant about “Jewish supremacist vampires.” Abulhawa also claimed she wanted to vomit every time she hears the Hebrew language, and insanely argued, “Most of the people killed on October 7 were actually killed by Israel.”

Abulhawa further referred to Oct. 7, when Palestinian terrorists filmed themselves massacring families, raping women to death, and laughing as they gunned down civilians, as a “preemptive strike” after “seven decades of provocation.” Last year, again referring to the deadliest day for Jews since the Holocaust, she raved: To any reporter who thinks to ask me about October 7, go to hell and don’t bother to contact me or my agent. I do not worship at the alter of October 7. I do not worship at the altar of the WWII holocaust. I do not worship at the alter of Jewishness, antisemitism, or any other penance imposed by zionists on the world. Zionism is a disease of jewish supremacy that rots your brain and dulls even minimal critical thinking skills.
It is people like Abulhawa who fuel real-world violence and the massive rise in antisemitic attacks ever since Oct. 7, 2023. As important context, God granted Israel as a “perpetual possession” (Genesis 17:8) to the Jewish people more than a millennium before Islam was even invented or the Arabs first conquered Jerusalem. The reestablishment of Israel in the modern era was exceptionally legal, and yet Muslims have been waging almost incessant war against Israel ever since then. Despite the constant Jihad, Israel has generously given land grants to the Muslim Arabs, including Gaza and Bethlehem, land which the Muslims have immediately turned into hotspots of terrorist activity. There has never been a state of Palestine in history, and Muslims in the modern day have been refusing offers of a state for decades, because they don’t want their own state (they already have 50 nations), they want to destroy Israel. Abulhawa is as dishonest as she is vicious.
There are numerous posts on Abulhawa’s X feed referring to Jews as “parasites,” which seems to be her favorite go-to insult. For example, she re-shared a video asserting that groups of Israelis were moving into Gaza to capitalize on genocide (there was no genocide in Gaza; the only attempted genocide was on October 7). “F*****g parasites on this planet. I want to puke every time I hear that fake language pretending to be Hebrew, without a trace of Semitic sounds, rejoicing in carnage, trying to get their greedy grubby hands on more of what does not belong to them. There’s something horribly wrong with these people,” Abulhawa spat. In another post, she called Israelis “soulless parasites.”
In February, she reposted a clip of Congress welcoming Israeli Prime Minister Benjamin Netanyahu with a claim that almost every member of the United States government is either Jewish or married to a Jew. Abulhawa screeched, “the whole world is zionist occupied, except Palestine. They’ve stolen our land and home and heritage, but we’ve at least kept our dignity, refusing to submit to these parasites on earth.” Apparently, burning Jewish babies to death is maintaining dignity — who knew?
In January, Abulhawa shared a completely unconfirmed report that Israeli soldiers had murdered a mother and daughter. Abulhawa gibbered, “they are demons on this earth. virulent parasites who suck the lifeblood from others, not even for their own survival, but for their sadistic amusement.”I could provide dozens more examples from Abulhawa’s X feed of the most vile antisemitic rhetoric (see more above, found by Jon Levine), but I think the point is clear, which is that Abulhawa is a pro-genocide Jew-hater, and Mamdani’s wife created artwork for one of her essays. If you can know a person by the friends he or she keeps, then Rama Duwaji Mamdani has some serious explaining to do.

Go home.

• Ex-Columbia Professor Calls for Violence, Glorifies Murder of Jews (Turley)

Professor Muhammad Abdou, who until recently taught students at Columbia University, appeared online this week to spread calls for religious-based violence and glorify the murder of Jews. He did so as part of an event at the Union Theological Seminary, an institution associated with Columbia. While the university recently ended Abdou’s teaching, it is important to remember that this unhinged fanatic was previously chosen by Columbia faculty and administrators to teach their students. Those individuals remain at Columbia, and Abdou is just the latest example of the radical chic of higher education.

The Islamic studies scholar called on students to “be a threat” as part of the event titled “Death to the Akademy: How to be a thorn in their throat amidst snakes in the grass.” Teachers in higher education are often called “the academy.” According to a video on X from Manhattan Institute investigative analyst Stu Smith, the talk involved deeply disturbing and hateful comments.
Abdou told the students: “Let us engage in jihad, and there are rules for jihad, and Muslims know that Allah has commanded rules. We don’t engage in wanton violence, but we don’t accept the negative peace either.” One of the most chilling moments came when he praised Elias Rodriguez, the man facing multiple charges for the murder of a young Jewish couple. In what Abdou called the “assassination of two Zionists,” Rodriguez is accused of murdering Yaron Lischinsky, 30, and Sarah Lynn Milgrim, 26, the two Israeli employees in 2025 in Washington.
Abdou does not discuss how this young couple dreamed of a life together or sought to bridge religious divides. They are just a couple of “Zionists” in his eyes. He then reportedly praised their accused killer: “God bless him. He took action. … Take action. Not only that kind of action, just to be very clear, because there’s also building. We need to destroy. We need to create alternatives.” The seminary stopped his in-person appearance, which led to condemnations from student groups. In an Instagram post, Queer Muslims NYC accused the seminary of “flagrant Islamophobia and utter disregard for Muslim students.” However, they claimed that the union continued to support the event with a virtual component.
This video is reminiscent of the speech of other radical faculty like Cornell Professor Russell Rickford, who celebrated the massacre in Israel on Oct. 7th. Their extremism was not a barrier to being hired. It was likely an enhancement. They are examples of why faculty members are unlikely to change the overwhelmingly liberal appointments. Conservatives and libertarians have been largely purged from most departments. While even a moderately conservative faculty candidate will often face organized opposition, radicals like Abdou and Rickford find an eager audience on faculties.
I encourage you to watch this video. This is the man who was interviewed and selected by faculty and administrators, not just at Columbia but at Cornell University and the University of Toronto. He was appointed as the Arcapita Visiting Assistant Professor at Columbia University’s Middle-Eastern, South Asian and African Studies (MESAAS) Program at the Middle-East Institute. He was also a Postdoctoral Fellow/Visiting Scholar at Cornell.
According to his bio, “he is a self-identifying Muslim anarchist and diasporic settler of color.” His credentials include “his organizing towards BIPOC and Palestinian liberation and involvement with post-anti-Globalization Seattle 1999 movements.”That appears to be the perfect resume for someone who wants to teach at leading universities. Those faculty and administrators are still at these institutions, and so is the radical culture that has taken hold of higher education in the United States. What is most striking about this video is how Abdou offers just pure hate. There is no discernible intellectual content or insight. Just rage masquerading as scholarship.

Keeping busy.

• Musk Whips Out ‘Macrohard’ In Disruptive Tesla-xAI Bid (ZH)

Elon Musk on Wednesday announced a joint project between Tesla and his AI startup xAI, which he dubbed “Macrohard” or “Digital Optimus” that can ‘basically automate entire companies’ by observing and intelligently simulating their functions. The way it works, per a Wednesday post on X: “Grok is the master conductor/navigator with deep understanding of the world to direct digital Optimus, which is processing and actioning the past 5 secs of real-time computer screen video and keyboard/mouse actions. Grok is like a much more advanced and sophisticated version of turn-by-turn navigation software.”

So Digital Optimus is the ‘instinct’ while Grok is the ‘thinking part of the mind’ according to Musk. The setup will run “very competitively on the super low cost Tesla AI4 ($650) paired with relatively frugal use of the much more expensive xAI Nvidia hardware,” and “will be the only real-time smart AI system. “In principle, it is capable of emulating the function of entire companies. That is why the program is called MACROHARD, a funny reference to Microsoft.” -Elon Musk.It gets even more wild; Musk says it works “in all AI4-equipped cars, so your car can do office work for you when not driving,” and he will deploy millions of dedicated Digital Optimus units at Supercharger stations.

Oh and it works in all AI4-equipped cars, so your car can do office work for you when not driving.

We’re also deploying millions of dedicated Digital Optimus units in the field at Superchargers where we have ~7 gigawatts of available power.
— Elon Musk (@elonmusk) March 12, 2026
Grok itself suggested 10 use cases;
1. Auto data entry from invoices/docs.
2. Real-time code fix from error messages.
3. Deal hunting while shopping online.
4. Contextual email response generation.
5. Seamless enterprise software ops.
6. Auto video edits from timeline.
7. Live stock trade execution.
8. Tutorial step automation.
9. Instant security threat spotting.
10. Entire company workflow emulation.

According to Musk, Digital Optimus will be ready to rock in 6 months. xAI was acquired by SpaceX last month in an all-stock deal that valued the rocket maker at $1 trillion and xAI at $250 billion, which comes ahead of a potential SpaceX IPO later this year.

All carmakers obeyed politics and lose. Except for Toyota, which didn’t jump in head first. And Tesla.

• Honda Just Lost Billions on EVs It Can’t Sell (Stephen Green)

Japanese automaker Honda just cancelled the production of three planned made-in-the-U.S.A. electric cars, including the 0-Series SUV, the 0-Series Saloon, and the Acura RSX — and the company says it will write off massive losses as a result. Still, better than building EVs nobody wants to buy. The company said the EVs had to go to avoid future losses, complaining about the “current business environment where the demand for EVs is declining significantly.” I follow these things, and I’d somehow never even heard of Honda’s 0-Series vehicles — assuredly for “zero emissions” — introduced at the 2024 Consumer Electronics Show in Las Vegas, and were supposed to go on sale in the U.S. later this year.

The company’s 0-Series English-language and Japanese brag sheets are still up on the Honda website, for whatever that’s worth. Honda blamed U.S. tariffs (I’ll come back to those in a moment), the “volatile policy environment surrounding EV incentives,” (as Car and Driver put it), fossil fuel regulations, and changing consumer priorities in China. Honda says total write-downs could total $15.8 billion. While the epic losses won’t all come at once, Honda says it expects to lose between $2 billion and $3.5 billion in the current fiscal year, ending this month. According to Financial Times, that’s Honda’s first-ever annual recorded loss since going public 50 years ago.
What’s maybe most impressive about losing nearly [dr_evil_voice] SIXTEEN BILLION DOLLARS [/dr_evil_voice] on EVs is that Honda didn’t even try that hard, at least not compared to certain other automakers I could name — and am about to. GM said in January that it would suffer $7.6 billion worth of write-downs on its overblown EV plans, and in December, Ford announced a $19.5 billion write-down on its EV investments. That’s one of the largest in history. Europe-based Stellantis took one look at Ford’s losses and said, “Hold my beer.” Headquartered in the Netherlands, the Euro-giant also owns the old Chrysler Group brands, including Chrysler, Dodge, Ram, and Jeep.
Despite Europe offering even bigger subsidies and stricter mandates for EVs than this country does, Stellantis last month announced a whopping $26.6 billion in EV losses. Then there’s fussy old Toyota, which remained largely focused on hybrids and fuel-efficient ICE vehicles. That company seems to be doing just fine. American tariffs might have complicated Honda’s poor planning, but as you can see, they weren’t primarily to blame. Those same tariffs were supposed to help GM and Ford sell their cars — including EVs — but American EV makers took their lumps, too.
The real culprit here, of course, is Big Government. Washington, Brussels, and Beijing went all-in on subsidizing and even mandating a market into existence — a market that there simply wasn’t enough demand to serve. Not even with all the subsidies and mandates. So automakers retooled manufacturing facilities, built massive battery factories, and designed EVs (and pricy software to run them) from the ground up. Now they have to throw out some of the designs, scale back the battery production, and re-retool the plants.
Thanks, Big Government!

Newsom is a good sign the Dems don’t have anyone.

• Gavin Newsom Has a ‘Hillary Clinton Problem’ (Robert Spencer)

The destroyer of California, Gov. Gavin Newsom, wants very, very much to be president of the United States, and if he ever attains his goal, he will do to the entire country what he has done to California. That’s why all reasonable Americans who value the nation as a relatively economically stable and free society should be deeply alarmed at the prospect of a Newsom presidency. Newsom is such a bad candidate that even some leftists are alarmed, albeit not for the same reasons that patriots are. On the left, the concern is that Gavin has a “Hillary Clinton problem.”

The term “Hillary Clinton problem” could refer to so very many difficulties and categories of difficulties that it veritably boggles the mind. Did Newsom use a private email server to conceal government business from watchdogs? Did he abandon our people to jihadis at Benghazi and then lie about it? Does Newsom intend, after losing (as all patriots hope) the 2028 presidential election, to frame his victorious opponent for collusion with Russia? Does Newsom have reputation for lamp-throwing temper tantrums? Do Newsom’s enemies have strange suicidal tendencies?
In this case, the “Hillary Clinton problem” phrase comes from MS NOW host Chris Hayes, who said: “I think Newsom has the Hillary Clinton problem, which is that Hillary Clinton was perceived outside of the Democratic Party and Democratic coalition as the ultimate lib, the libiest lib who ever lived, and was never actually like that much of a lib. It was like — and also had a record that was fairly centrist, particularly as a U.S. senator.”
Oh, good grief. Hayes is trying to sell Newsom – and Hillary Clinton — as centrists? They may be centrists if Chairman Mao is at one end of the spectrum and Uncle Joe Stalin at the other end, but that’s about it. Newsom has presided over California’s first-ever population decline. Luminaries including Elon Musk and Steven Spielberg have fled the state to avoid Newsom’s ever-growing tower of taxes and regulations. All Newsom promises for the nation if he moves into the White House on Jan. 20, 2029 is an open border, spiraling crime, and a federal government that bleeds the taxpayer even more than his California state government does now. What is centrist about all that?
Hayes added: “And that’s like the worst uncanny valley for a Democratic politician to be in, where the base doesn’t trust you because you don’t have a kind of organic relationship with the left parts of the party. And then the swing voter just thinks like, that’s a lib.” Right. Because the swing voter is still marginally sane, while the “left parts of the party” think that men can become women, that Old Joe Biden was a competent president, and that ever-expanding government control over every aspect of Americans’ daily lives is a positive development.
Whether the Democrats run Newsom in 2028 or some other nutbar, it is virtually certain that no one will be able to secure the nomination without appealing to the party’s socialist, anti-American, pro-Islamic Republic of Iran, pro-Hamas base. Hayes says that the “Democrats needed someone who had an authentic relationship with the party’s left-wing base, but also ‘communicates broadly’ and is viewed as nonpartisan.” This is like saying that V. I. Lenin has a chance to be elected if he “communicates broadly” with anti-Communists and is viewed as nonpartisan: it isn’t going to happen.
Hayes, however, thinks Newsom can do it: “I just think right now — and this could change — Newsom has the opposite set of factors. He has made very clear attempts to show that he’s bipartisan, centrist, independent.” How on earth has Gavin Newsom ever attempted to be “bipartisan”? This is the man who has sponsored a gerrymandering scheme that will totally disenfranchise the millions of Californians who are still Republicans.
Despite the facts, Hayes insisted that “substantive things he’s done” showed that Newsom had moved toward the center, and lamented: “But I haven’t seen evidence that that comes through. I just think there’s a reputational thing that’s very problematic. Also, the governor of California is a tough place to get the next Democratic nominee from.”
That may be. Newsom’s problem is indeed California, albeit for different reasons from the ones Hayes imagines. Newsom’s problem is that he has been governor of the nation’s most populous state since Jan. 7, 2019. He has a lengthy track record. Contrary to Chris Hayes’ imaginings, there is nothing centrist about it. So will America choose for president a socialist whose policies have wrecked his state? We shall see, but Gavin’s “Hillary Clinton problem” is not so much that he is wrongly not perceived as a centrist, but that like Hillary, he has always left a catastrophe in his wake. Ask Christopher Stevens about that.

https://twitter.com/OluwaGbasten/status/2032110885594955948?s=20

Elon Musk just confirmed when humans exit the AI development loop entirely.

Not eventually. Not theoretically.

He gave a date.

Musk: “Humans are gradually getting less and less in the loop on the recursive self-improvement. Every successive model is built by the one before… pic.twitter.com/FxEgURyhUr
— Dustin (@r0ck3t23) March 13, 2026

The man who built Meta’s entire AI research operation just made a $1 billion bet that everything OpenAI and Google are building is a dead end.

Yann LeCun helped design the deep learning systems that made today’s chatbots possible.

He spent years inside Big Tech, then walked… https://t.co/tySz3dp1Ci pic.twitter.com/fXFR5ZV97S
— Milk Road AI (@MilkRoadAI) March 13, 2026

https://twitter.com/MichaelARothman/status/2031972970621501937?s=20

Research shows that regularly practicing gratitude can lead to measurable changes in the brain. This effect is driven by neuroplasticity, the brain’s ability to reorganize itself based on repeated thoughts and behaviors. When people intentionally focus on appreciation, neural… pic.twitter.com/BMVWjo8hh6
— Science girl (@sciencegirl) March 12, 2026

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Debt Rattle March 24 2024

Mar 242024

March 24, 2024 Posted by Raúl Ilargi Meijer at 9:30 am Finance Tagged with: Baltic Sea, bugaboo, Crocus City Hall, EV, ISIS, meat grinder, Pan American Highway, West Bank 29 Responses »

Edvard Munch Spring 1889

• It’s War: The Real Meat Grinder Starts Now (Pepe Escobar)

• This Is Not ISIS – RT Editor-in-Chief (Sp.)

• Scott Ritter: Moscow Terrorist Attack Doesn’t Look Like ISIS’ Handiwork (Sp.)

• Ukraine Becomes Den of Terrorism in Europe With Help of West – Zakharova (Sp.)

• It’s Time For Russia To Give The West A Nuclear Reminder (Dmitry Trenin)

• “Crocus City Hall” Attack In Moscow Suburb And More (Doctorow)

• Why Russia Won’t Cede Baltic Sea Positions (Sp.)

• US Whips Up Fear of Russian Bugaboo to ‘Subjugate Europe’ (Sp.)

• Israel Announces Major Land Grab In West Bank (RT)

• China Behind Pan American Highway (ET)

• Sir Thomas More and the Biden Corruption Scandal (Turley)

• How The Police State Muzzles Our Right To Speak Truth To Power (Whitehead)

• The Hertz Meltdown Reveals the Scale of the EV Debacle (Jeffrey Tucker)

Something doesn’t seem to add up here.

Bill Maher Trump

Bill Maher & panel were left baffled last night after Truth social went public

“This guy is the luckiest guy in the world”

“He always lucks out on everything… now we’re probably not going to see any of the trials”

Teflon Don stays winning pic.twitter.com/Fyi8iwnyf3

— johnny maga (@_johnnymaga) March 23, 2024

Black vote

CNN reporter left visibly STUNNED on-air after ne polling data shows Trump WINNING BIG against Biden with black vote:

"LOOK AT THAT! Something we’ve been seeing in state after state after state!” pic.twitter.com/v5mwriFmeM

— Benny Johnson (@bennyjohnson) March 22, 2024

NEW: Trump's Defense Secretary Chris Miller alleges the January 6 Committee threatened to 'make his life hell' if he didn't stop saying Trump authorized National Guard deployment before the Capitol riot.

Miller specifically implicates Liz Cheney in this intimidation effort,… pic.twitter.com/8XFm2qdqYQ

— KanekoaTheGreat (@KanekoaTheGreat) March 23, 2024

Kevin O’Leary: This is not America

Kevin O'Leary: This is not America
'Shark Tank' host Kevin O'Leary reacts to New York taking first steps to seize former President Trump's assets on 'The Ingraham Angle.' pic.twitter.com/vev8jhRSyK

— Camus (@newstart_2024) March 23, 2024

Kevin O’Leary goes berserk on Justin Trudeau and his cabinet’s utter incompetence
Source:
ITM TRADING, INC.https://t.co/68qlprI51W pic.twitter.com/bZwmdksoNi

— Camus (@newstart_2024) March 23, 2024

Shaman

Yaroslav Dronov, better known as the singer Shaman, is huge in Russia. He announced that he is willing to pay for all victims' funerals as well as the rehabilitation for all the wounded pic.twitter.com/gFpMTQRLm7 https://t.co/6lnj2sZr6f

— Tanya Tay Posobiec ☦️ (@realTanyaTay) March 23, 2024

Fani
https://twitter.com/i/status/1771728518851817940

“..the most feasible mastermind is Kyrylo Budanov [..] The “spy chief” who happens to be the top CIA asset in Kiev.

• It’s War: The Real Meat Grinder Starts Now (Pepe Escobar)

Exhibit 1: Friday, March 22, 2024. It’s War. The Kremlin, via Peskov, finally admits it, on the record. The money quote: “Russia cannot allow the existence on its borders of a state that has a documented intention to use any methods to take Crimea away from it, not to mention the territory of new regions.” Translation: the Hegemon-constructed Kiev mongrel is doomed, one way or another. The Kremlin signal: “We haven’t even started” starts now. Exhibit 2: Friday afternoon, a few hours after Peskov. Confirmed by a serious European – not Russian – source. The first counter-signal. Regular troops from France, Germany and Poland have arrived, by rail and air, to Cherkassy, south of Kiev. A substantial force. No numbers leaked. They are being housed in schools. For all practical purposes, this is a NATO force. That signals, “Let the games begin”. From a Russian point of view, Mr. Khinzal’s business cards are set to be in great demand.

Exhibit 3: Friday evening. Terror attack on Crocus City, a music venue northwest of Moscow. A heavily trained commando shoots people on sight, point blank, in cold blood, then sets a concert hall on fire. The definitive counter-signal: with the battlefield collapsing, all that’s left is terrorism in Moscow. And just as terror was striking Moscow, the US and the UK, in southwest Asia, was bombing Sana’a, the Yemeni capital, with at least five strikes. Some nifty coordination. Yemen has just clinched a strategic deal in Oman with Russia-China for no-hassle navigation in the Red Sea, and is among the top candidates for BRICS+ expansion at the summit in Kazan next October. Not only the Houthis are spectacularly defeating thalassocracy, they have the Russia-China strategic partnership on their side. Assuring China and Russia that their ships can sail through the Bab-al-Mandeb, Red Sea and Gulf of Aden with no problems is exchanged with total political support from Beijing and Moscow.

Deep in the night in Moscow, before dawn on Saturday 23. Virtually no one is sleeping. Rumors dance like dervishes on countless screens. Of course nothing has been confirmed – yet. Only the FSB will have answers. A massive investigation is in progress. The timing of the Crocus massacre is quite intriguing. On a Friday during Ramadan. Real Muslims would not even think about perpetrating a mass murder of unarmed civilians under such a holy occasion. Compare it with the ISIS card being frantically branded by the usual suspects. Let’s go pop. To quote Talking Heads: “This ain’t no party/ this ain’t no disco/ this ain’t no fooling around”. Oh no; it’s more like an all-American psy op. ISIS are cartoonish mercenaries/goons. Not real Muslims. And everyone knows who finances and weaponizes them. That leads to the most possible scenario, before the FSB weighs in: ISIS goons imported from the Syria battleground – as it stands, probably Tajiks – trained by CIA and MI6, working on behalf of the Ukrainian SBU.

Several witnesses at Crocus referred to “Wahhabis” – as in the commando killers did not look like Slavs. It was up to Serbia’s Aleksandar Vucic to cut to the chase. He directly connected the “warnings” in early March from American and British embassies directed at their citizens not to visit public places in Moscow with CIA/MI6 intel having inside info about possible terrorism, and not disclosing it to Moscow. The plot thickens when it is established that Crocus is owned by the Agalarovs: an Azeri-Russian billionaire family, very close friends of… Donald Trump. Talk about a Deep State-pinpointed target. ISIS spin-off or banderistas – the sponsors remain the same. The clownish secretary of the National Security and Defense Council of Ukraine, Oleksiy Danilov, was dumb enough to virtually, indirectly confirm they did it, saying on Ukrainian TV, “we will give them [Russians] this kind of fun more often.”

But it was up to Sergei Goncharov, a veteran of the elite Russia Alpha anti-terrorism unit, to get closer to unwrapping the enigma: he told Sputnik the most feasible mastermind is Kyrylo Budanov – the chief of the Main Directorate of Intelligence at the Ukrainian Ministry of Defense. The “spy chief” who happens to be the top CIA asset in Kiev.

Poso “You will see terror attacks on Russian civilians, this is what Victoria Nuland wants”
https://twitter.com/i/status/1771545163732496857

“Basic sleight of hand. The level of a railway thimble-rigger,” she added. “It has nothing to do with ISIS. It’s Ukrainians.”

• This Is Not ISIS – RT Editor-in-Chief (Sp.)

Ukraine and the West have resorted to false flag operations to persuade everyone that ISIS* was behind the terror attack in the Crocus City Hall concert venue near Moscow, said Margarita Simonyan, the editor-in-chief of Sputnik’s parent media group Rossiya Segodnya. The head of the media group stressed that the names and faces of the perpetrators are already known to authorities and that the terrorists gave everything away during interrogation. “It immediately became obvious why US media were claiming in unison that it was ISIS,” she said. Simonyan explained that the perpetrators were chosen to carry out the attack in a manner that would allow the West to persuade the international community that ISIS was behind the attack. “Basic sleight of hand. The level of a railway thimble-rigger,” she added. “It has nothing to do with ISIS. It’s Ukrainians.” She added that the enthusiasm displayed by Western media when they tried to persuade everyone that ISIS was responsible even before arrests were made gave them away completely.

“This is not ISIS. This is a well-coordinated team of several other, also widely known, abbreviations,” Simonyan concluded. In the hours following the attack, Western media insisted that radical jihadist organization ISIS was behind it, while Ukrainian officials also said that they had nothing to do with the tragedy. However, suspects were detained in Russia’s Bryansk region near Ukrainian border. According to the data provided by law enforcing agencies, they had a support base on the other side of the border. Moreover, while Kiev rushed to deny its involvement into the shooting, Ukrainian secret services have a long track record of terror attacks on Russian territory, from shelling in the Belgorod region to assassinations of political scientist Daria Dugina and journalist Vladlen Tatarsky.

We’re discussing last night’s horrific terror attack LIVE in #Moscow with RT News International. I’m skeptical of the “ISIS” story line, and really feel this is type of GLADIO-style event to maintain a strategy of tension and prevent a negotiated settlement in Ukraine. Here’s the… pic.twitter.com/8CmVtT6GtP

— Patrick Henningsen (@21WIRE) March 23, 2024

“Who was behind this attack? Who are the masterminds? The Russian security services will find out. But whoever they are, they reside in Ukraine.”

• Scott Ritter: Moscow Terrorist Attack Doesn’t Look Like ISIS’ Handiwork (Sp.)

Over 100 civilians were killed after a group of armed terrorists stormed a concert and started indiscriminately shooting at the audience. The perpetrators have since been apprehended by Russian authorities and an investigation has been launched to uncover the truth behind this tragedy. Washington’s attempts to pin the blame for the March 22 terrorist attack in Moscow on ISIS* appears suspect due to the perpetrators’ behavior, former US Marine Corps intelligence officer Scott Ritter told Sputnik. Pointing out the fact that the terrorists were apprehended while fleeing towards Ukraine, Ritter remarked how “people of violence” have a tendency to “navigate towards their ‘true north’” at the end of the day.

“What I mean by that is, let’s take a special forces team operating behind enemy lines: if they’re compromised, they try to go home, they try to escape and evade towards the friendly lines,” he explained. “ISIS has loyalty to their perverted version of religion, God. Their ‘true north’ is to become martyrs, to navigate home to heaven.” “But that’s not what these terrorists did,” he continued. “Their true north was Ukraine, and they were navigating toward Ukraine. And that’s all we need to know about this. This was an attack that was linked to the ongoing conflict in Ukraine. Who was behind this attack? Who are the masterminds? The Russian security services will find out. But whoever they are, they reside in Ukraine.”

https://twitter.com/i/status/1771611851953991972

Ukraine: corruption, money laundering and terrorism. No coincidence, a set-up.

• Ukraine Becomes Den of Terrorism in Europe With Help of West – Zakharova (Sp.)

Ukraine has been turning into a center for the spread of terrorism in Europe for the past 10 years with the help of the West, Russian Foreign Ministry spokeswoman Maria Zakharova said on Saturday. A shooting occurred on Friday evening in the Crocus City Hall concert venue just outside Moscow, followed by a massive fire. A Sputnik correspondent who witnessed the attack reported that at least three men in camouflage had broken into the music hall, shooting people point-blank and throwing incendiary bombs. According to the latest data from the Russian Investigative Committee, at least 115 people died in the terrorist attack and many others were injured, with the number of those killed expected to increase.

“The main thing is that the US authorities do not forget how their information and political environment linked the terrorists who shot people at Crocus City Hall with the banned terrorist organization ISIS [banned in Russia]. Now we know in which country these bloody criminals planned to hide from persecution — Ukraine. The very country that, with the help of Western liberal regimes, has been turning into a center for the spread of terrorism in Europe for the past ten years,” Zakharova said on Telegram.

Zakharova
https://twitter.com/i/status/1771566048178852131

“–most importantly– to bring the enemy to a halt and encourage it to engage in serious dialogue.”

• It’s Time For Russia To Give The West A Nuclear Reminder (Dmitry Trenin)

Strategic stability is usually understood as the absence of incentives for a nuclear-armed power to launch a massive first strike. Typically, it’s viewed primarily in military-technical terms. The reasons why an attack may be contemplated are usually not taken into account. This idea emerged in the middle of the last century, when the USSR had achieved military-strategic parity with the US and the Cold War between them had entered a “mature” phase of limited confrontation and some predictability. The solution to the problem of strategic stability was then seen in the constant maintenance of contacts between the political leadership of the two superpowers. Which led to arms control and transparency in arranging their respective arsenals. However, the first quarter of the 21st century is ending in conditions very different from the relative international political stability of the 1970s. The US-centric world order established after the end of the Cold War is being seriously challenged and its foundations are visibly shaken.

The global hegemony of Washington and the position of the collective West as a whole is weakening, while the economic, military, scientific and technological might and political importance of non-Western countries –first and foremost China, but also India– are growing. This is leading to a deterioration in relations between the US and other power centers. The two largest nuclear powers, Russia and the US, are in a state of semi-direct armed conflict. This confrontation is officially regarded in Russia as an existential threat. This situation has become possible as a result of the failure of strategic deterrence (in its geopolitical dimension) in an area where Russia’s vital interests are present. It should be noted that the main cause of the conflict is Washington’s conscious disregard –for three decades now– of Moscow’s clearly and explicitly expressed security interests. Moreover, in the Ukrainian conflict, the US military and political leadership has not only articulated, but has publicly expressed, the mission of using its proxy to inflict a strategic military defeat on Russia, despite its nuclear status.

This is a complex undertaking in which the collective economic, political, military, military-technical, intelligence and informational capacity of the West is integrated with the actions of the Ukrainian armed forces in direct combat against the Russian army. In other words, the US is trying to defeat Russia not only without using nuclear weapons, but even without formally engaging in hostilities. In this context, the declaration by the five nuclear powers on January 3, 2022, that “nuclear war should not be waged” and that “there can be no winners,” seems like a relic of the past. A proxy war between the nuclear powers is already underway; moreover, in the course of this conflict, more and more restrictions are being removed, both in terms of the weapon systems used and the participation of Western troops, as well as the geographical limits of the theater of war. It is possible to pretend that a certain ‘strategic stability’ is being maintained, but only if, like the US, a player sets the task of inflicting a strategic defeat on the enemy at the hands of its client state and expects that the enemy will not dare to use nuclear weapons.

Thus, the concept of strategic stability in its original form – the creation and maintenance of military-technical conditions to prevent a sudden massive nuclear strike – only partially retains its meaning under current conditions. Strengthening nuclear deterrence could be the solution to the real problem of restoring strategic stability, which has been seriously disrupted by the ongoing and escalating conflict. To begin with, it is worth rethinking the concept of deterrence and, in the process, changing its name. For example, instead of a passive, we should talk about an active form. The adversary should not remain in a state of comfort, believing that the war he is waging with the help of another country will not affect him in any way. In other words, it is necessary to put fear back into the minds and hearts of the enemy’s leaders. The beneficial sort of fear, it’s worth stressing.

It must also be recognized that the limits of purely verbal intervention have been exhausted at this stage of the Ukrainian conflict. Channels of communication all the way to the top must remain open around the clock, but the most important messages at this stage must be sent through concrete steps: doctrinal changes; military exercises to test them; underwater and aerial patrols along the coasts of the likely enemy; warnings about preparations for nuclear tests and the tests themselves; the imposition of no-fly zones over part of the Black Sea, and so on. The point of these actions is not only to demonstrate determination and readiness to use available capabilities to protect Russia’s vital interests, but –most importantly– to bring the enemy to a halt and encourage it to engage in serious dialogue.

“..to prevent what has been until recently a conventional war contained within certain rules of conduct degenerating into a partisan war without rules..”

• “Crocus City Hall” Attack In Moscow Suburb And More (Doctorow)

The question of a shift from conventional warfare in which Ukrainian forces are being decimated, with or without Western military and financial help, to terrorist operations was already discussed in Western as well as Russian media a month ago when General Zaluzhny was about to be replaced as head of the Ukrainian military forces. There was speculation that his successor might well become Kirill Budanov, head of the Ukrainian military intelligence services and director of the campaign of sabotage and terror against Russia, which was even then yielding very impressive results while the regular army was floundering. Instead, Zelensky selected General Oleksandr Syrsky to replace Zaluzhny. Syrsky, as we know, was the general who threw away the lives of his soldiers in hopeless efforts to retain strategically unimportant towns and he has continued this military folly in the latest Ukrainian counter-attacks around Avdeevka.

Meanwhile, Budanov’s star has continued to rise. Yesterday’s carnage at the Crocus City Hall is only the latest and most publicized proof. ***** The Putin administration is clearly wary of pointing a finger at Kiev for this outrage. But the Russian public is surely going to put enormous pressure on the Kremlin to face up to the facts and to do something more than just another ‘revenge attack’ on Ukrainian military infrastructure such as was carried out several days ago in response to the latest Ukrainian incursions and missile attacks in the Russian border province of Belgorod, near Ukraine’s second city of Kharkov. There surely will be those Russian patriots who will call for a decapitating strike on Kiev to get rid of Zelensky and the neo-Nazis who de facto control his government at one blow. This has been achievable at any moment over the course of the past two years but was not done by the Kremlin for reasons that have nothing to do with its Christian faith guided humanitarian values.

No, the reason was to prevent what has been until recently a conventional war contained within certain rules of conduct degenerating into a partisan war without rules such as you commonly see in fratricidal military conflict. The fact today is that with the upsurge of spectacular terrorist attacks on and inside Russia Ukraine is de facto already engaged in all-out ‘partisan’ style warfare. The fact is that with the threat of a French directed invasion force entering Ukraine set out in the past week, with the delivery of F-16s to Kiev approaching, and with the delivery of nuclear enabled German Taurus cruise missiles still under discussion, the time for end-game division of what remains of Ukraine among the interested parties is here and now. The logic of the U.S. encouragement to Kiev to perpetrate exactly this kind of atrocity is obvious to anyone with eyes to see. It was precisely attacks like this, as for example during the Chechen wars and the Beslan school siege-massacre that Putin was enraged and responded violently. The decapitation of Kiev now will be very convenient also for Washington.

“This must result in a clear Russian strengthening of military forces along the border with Finland.”

• Why Russia Won’t Cede Baltic Sea Positions (Sp.)

NATO is on a slippery slope towards further escalation after absorbing Finland and Sweden as Russia won’t stand by as the alliance tries to block its access to the Baltic Sea. That is according to Mikael Valtersson, former officer of Swedish Armed Forces, and former defense politician and chief of staff with Sweden Democrats. “NATO’s main goals in the Baltic Sea are to keep the sea and air lines open to Finland and the Baltic states in case of a conflict with Russia,” Valtersson told Sputnik. “Another important goal to do this is to deny Russian access to the Baltic Sea in case of conflict. This will make the situation for the Russian Kaliningrad enclave very difficult.” Tensions around the Baltic have escalated steadily, driven by NATO’s expansion since the collapse of the Soviet Union and the Warsaw Pact. Poland fell under the alliance’s aegis in 1999 followed by Estonia, Latvia, and Lithuania’s admission to NATO in 2004.

After previously-neutral Finland and Sweden joined the alliance, the Baltic Sea in principle became a ‘NATO sea’ with the exception of the two short Russian coastlines, the Swedish military veteran stressed Moscow has no other option but to respond to NATO getting closer to its borders by stepping up defenses of its north-western regions. Finland shares a 1,340 km (830-mile) border with Russia, making the matters particularly sensitive for both nations. In an interview with journalist Pavel Zarubin in December 2023, Russian President Vladimir Putin noted that Moscow had revived the Leningrad Military District and started concentrating military units there. “The enlargement of NATO with the admission of Sweden and Finland as members has clearly increased Russian security concerns,” Valtersson exlplained. “The main problem is the membership of Finland in NATO, since its closeness to the naval facilities at the Kola Peninsula, transportation routes to the Kola Peninsula and St. Petersburg. This must result in a clear Russian strengthening of military forces along the border with Finland.”

“In the long run a number of military systems ought to be deployed. First of all a large amount of air defense, especially long distance, must be deployed to both defend Russian territory but also to greatly reduce NATO capability to use Finnish air space and reduce the usage of air transports over the Baltic Sea to the Baltic states,” the military expert continued. Another important aim for Russia, according to Valtersson, is to develop methods to reduce NATO access to the sea lanes in the Baltic Sea. He suggested that new technologies such as sea drones could be used to that end. The Swedish military veteran added that a third pillar of Russian defense would be long-range weapons, which could keep important ground targets in Finland and the Baltic states, especially arms depots, in the crosshairs.

“A fourth important question to solve is the precarious situation of supplying Kaliningrad,” Valtersson observed. “This must probably be solved by large prestorage of resources so the enclave can withstand isolation for a couple of months.” “A fifth and final question to solve is to secure Russian territory from ground attacks. To succeed in this a large number of ground units must be deployed along the border with Finland and the Baltic states,” he concluded. “Fortifications such as those that were so successful in the Zaporozhye area last summer must also be established, at least at important choke points.”

“Here in Europe, the war is now being used to whip up popular enthusiasm for war mobilization of the domestic economies and subjugation of the populace to authoritarian and unlimited powers of the ruling elite..”

• US Whips Up Fear of Russian Bugaboo to ‘Subjugate Europe’ (Sp.)

European politicians are doing their best to continue ratcheting up tensions with Moscow, with French President Emmanuel Macron reiterating that he may send thousands of troops to Ukraine, Baltic politicians allying with Paris on the issue, and Polish Foreign Minister Radoslaw Sikorski saying it’s an “open secret” that NATO soldiers are already in the country. British and German media have done their part to add fuel the hysteria, citing a recent briefing to Bundestag lawmakers on purported plans by Russia to kick off a “full-scale ‘land, sea and air’ war” with NATO. “We hear threats from the Kremlin almost every day…so we have to take into account that Vladimir Putin might even attack a NATO country one day,” German Defense Minister Boris Pistorius warned in an interview earlier this year. This week, Polish President Andrzej Duda claimed it was a matter “of common sense” that “Putin, by putting his economy on a war footing, will have such military might that he will be able to attack NATO.”

Meanwhile, his top general, Polish Armed Forces Chief of Staff Wieslaw Kukula, has alleged that Russia is actively “preparing for a conflict,” and urging Europe to do the same. Europe’s defenses are in an unenviable state. Facing a major economic downturn and a $61 billion spending shortfall after giving roughly the same amount away to Kiev for NATO’s proxy war against Russia, European military leaders have warned that they could be left “throwing stones” within hours of a major conflict breaking out as arms and ammo stocks round dry. But the question no Western officials or media have been able to answer is why Russia – which has over the past three decades expressed a preference for economic cooperation with Europe, rather than fighting its western neighbors, would be interested in invading NATO and almost certainly triggering World War III. “The whole of NATO cannot fail to understand that Russia has no reason, no interest – neither geopolitical, nor economic, nor political, nor military – to fight with NATO countries,” President Putin said in an interview in December, emphasizing that Moscow and the bloc “have no territorial claims against each other” and could live peacefully.

The problem may just be that Russia is taking the hysterical outbursts by NATO officials and Western media at face value, instead of searching for the ‘man behind the curtain’ seeking desperately to keep tensions in place. “For the United States, the war in Ukraine has failed as a means of weakening Russia so that they can proceed with preparations to fight China. But it has succeeded spectacularly as a means of subjugating Europe. Washington now firmly has its knees on the neck of Europe,” veteran international relations and Russian affairs expert Dr. Gilbert Doctorow told Sputnik. Economically and politically, the US has been able to extract major concessions from the Europeans over the past two years, plucking hundreds of manufacturers from the continent thanks to an energy crisis sparked by the bloc’s “suicidal” decision to cut off Russian energy supplies, forcing the EU to purchase American LNG at four times the cost, and even trying to saddle Brussels with economic and military aid to Ukraine as Congress remains deadlocked over a $61 billion aid package.

“Here in Europe, the war is now being used to whip up popular enthusiasm for war mobilization of the domestic economies and subjugation of the populace to authoritarian and unlimited powers of the ruling elite,” Doctorow said. “What remains of free speech and other freedoms can be snuffed out in war hysteria. Moreover, the war fever is being used by [European Commission President Ursula] von der Leyen and the EU Commission in a bid to draw more power into Brussels at the expense of the national governments,” Doctorow warned. “Some countries are resisting, for example Prime Minister [Mark] Rutte of the Netherlands and even the mealy-mouthed German Chancellor [Olaf Scholz, ed.] are publicly opposed to the proposal of a European debt issuance to finance subsidies to the military production companies, all in spite of van der Leyen. Meanwhile, Macron is on the other side, pushing for greater European centralization for which is the proposed common investment in defense is a nice instrument,” the observer added.

“..we promote the settlement movement with hard work and in a strategic manner across the country..”

• Israel Announces Major Land Grab In West Bank (RT)

The Israeli government has designated nearly 2,000 acres in the West Bank as state-owned land in a move described by rights groups as the biggest land grab on occupied Palestinian territories in decades. The expansion of Jewish settlements in the West Bank is illegal under international law. In 2016, the UN Security Council described them as “a major obstacle to the vision of two States living side-by-side in peace and security.” Nevertheless, Finance Minister Bezalel Smotrich argued that the declaration of state-owned land in the Jordan Valley on Friday was “an important and strategic issue.”

“While there are those in Israel and the world who seek to undermine our right to Judea and Samaria and the country in general, we promote the settlement movement with hard work and in a strategic manner across the country,” Smotrich said in a statement, as quoted by the Times of Israel. According to local media, the designation of plots of land as Israeli paves a way for the construction of settler houses, as well as for commercial development. Israeli settlement watchdog Peace Now described the declaration as the largest since the 1993 Oslo Accords, adding that “the year 2024 marks a peak in the extent of declarations of state land.” Prime Minister Benjamin Netanyahu’s government gave a green light to the construction of more than 3,400 new settler homes this month, drawing more criticism from the UN and the Palestinian Authority.

“The West Bank is already in crisis. Yet, settler violence and settlement-related violations have reached shocking new levels, and risk eliminating any practical possibility of establishing a viable Palestinian State,” UN human rights chief Volker Turk said in his report to the Security Council on March 8. Smotrich said in February that the expansion of settlements was a legitimate response to Palestinian terrorist attacks. “Our enemies know that any harm to us will lead to more construction and more development and more of our hold all over the country,” he wrote on X (formerly Twitter).

“It’s like a boa constrictor that’s tightening and tightening around the United States..”

• China Behind Pan American Highway (ET)

If it’s ever completed, the Pan American Highway will stretch about 18,000 miles from Alaska to Argentina, opening up a land corridor the length of the Americas. It has gone unfinished for decades due to American and Panamanian concerns over the environment, crime, and disease—and more recently mass migration. The dangerous, rugged terrain acts as a natural barrier to travel from South to Central America. The bridge and road expansion will end near the town of Bocas de Cupe, in the Darién Gap. However, bridging the rivers has been considered one of the major obstacles blocking completion of the highway. The new project has worried some who fear completing the road into the Darién Gap will be a win for China and a loss for America.

Michael Yon, a former war correspondent, has been covering mass migration through Panama for several years and has used social media to bring attention to the bridge’s construction and its implications. China would benefit through an alternate trade route around the Panama Canal, which is essential to global trade. But for the United States, it could open the floodgates to migrants from South America, he told the Epoch Times. Meanwhile, U.S. leaders have grown increasingly wary of the military implications tied to Chinese infrastructure projects being built in America’s backyard as part of its Belt and Road Initiative (BRI), particularly around the Panama Canal. In 2018, Panama signed on to China’s ambitious BRI project, dubbed a modern Silk Road, after publicly recognizing Taiwan as part of China, much to the surprise and concern of the United States.

The CCP aims to utilize the BRI “to amass power and influence at the expense of the world’s democracies,” U.S. Southern Command Commander Army Gen. Laura Richardson warned in March. She and other commanders in recent years have been sounding the alarm about China’s incursion into the Western Hemisphere. China “seeks to supplant the United States as the world’s leading economic and military power,” Gen. Richardson noted in a written statement to the House Armed Services Committee. Mike Howell, director of the Heritage Foundation’s Oversight Project, believes China’s economic development in the region threatens America’s influence and security. “If China displaces the U.S. in the Western hemisphere as the dominant economic power, then we lose our leverage,” Mr. Howell, formerly an attorney with the Department of Homeland Security, told The Epoch Times. China is encircling the United States with infrastructure in Latin America and the Caribbean, Mr. Howell said. “It’s like a boa constrictor that’s tightening and tightening around the United States,” he said.

“..when a man takes an oath, he’s holding his own self in his own hands like water, and if he opens his fingers then, he needn’t hope to find himself again.”

“The Democrats have allowed their very identity to drip through their open fingers..”

• Sir Thomas More and the Biden Corruption Scandal (Turley)

In the 1966 movie “A Man for All Seasons,” Sir Thomas More faces Richard Rich, an ambitious office seeker who would ultimately lie and betray him. In this British historical drama, More warns Rich that “when a man takes an oath, he’s holding his own self in his own hands like water, and if he opens his fingers then, he needn’t hope to find himself again.” This week, Democrats appear to have finally drained away what remained of themselves and their party. For years, Democratic members and the media have demanded any evidence of the direct involvement or knowledge of President Joe Biden of the influence-peddling operation of his son, Hunter, and his brothers, James and Frank. In the hearing, witnesses testified under oath about specific meetings with Joe Biden discussing these foreign dealings and the family business interests. Bank records were introduced showing the transfers of millions going to Hunter and various Biden family members.

Faced with the evidence that the president lied about his lack of any knowledge or involvement in the influence peddling, the Democrats opened their fingers wider. Rep. Dan Goldman, D., N.Y., captured the problem for Democrats in even addressing any of the mounting evidence contradicting the president. Yet, Goldman has long shown a willingness to rush in where angels fear to tread. In previous attacks, Goldman repeatedly hit the Bidens with friendly fire when eliciting damaging answers from witnesses. Goldman has a habit of raising the worst evidence that his colleagues have avoided. In one hearing, he stumbled badly in raising the WhatsApp message where Hunter told a Chinese businessman that his father was sitting next to him and would not be pleased unless he sent him money. On another occasion, he prompted an IRS whistleblower to note that an email Goldman read into the record was actually a direct contradiction of the denials of the president.

In the latest misstep, Goldman pressed former Biden partner Tony Bobulinski on a proposal shared with Hunter and others to reserve 10% for “the Big Guy.” In other emails, Bobulinski was told to use such codes to avoid mentioning Joe Biden’s name. He was expressly identified as “the Big Guy.” Goldman snapped at Bobulinski, “Did anyone ever respond to that email?” Bobulinski responded “Yes, they did numerous times. Hunter himself did.” Goldman blurted out “you’re right” before angrily reclaiming his time to cut him off. Things did not prove any easier for other members. Rep. Alexandria Ocasio-Cortez, D., N.Y., imploded by mocking Bobulinski and challenging him “It is simple, you name the crime. Did you watch him steal something?”

Bobulinski proceeded to rattle off a series of possible criminal acts and Ocasio-Cortez cut him off. She then bizarrely pretended that he did not just list the crimes and barked “What is the crime, sir? Specifically?” Bobulinski was not the only one confused and noted “you ask and answer the question, I answered the question, RICO, you’re obviously not familiar with…” That is when Ocasio-Cortez again cut him off with “Excuse me, sir. Excuse me, sir. Excuse me, sir. RICO is not a crime, it is a category. What is the crime?” With that, it appears that Trump has now been cleared of charges in Atlanta by no one other than Alexandria Ocasio-Cortez. Racketeering is a crime and some of the crimes referenced by Bobulinski are commonly part of such conspiracies. The exchange captured the lunacy of the hearing as Democrats demanded evidence and then ignored it when it was repeatedly offered by witnesses and members.

Yet, Ocasio-Cortez was illuminating on one point. Neither she nor her colleagues were willing to admit the obvious. Few people now disagree that Hunter was openly engaging in influence peddling, which is a form of corruption that the government has long fought around the world. It is also clear that Joe Biden knew of that influence peddling not just from his son but newspaper accounts. He had knowledge of the corruption and facilitated it.However, Ocasio-Cortez wanted to ignore the millions of dollars acquired in influence peddling to press a witness on whether he saw the president steal something like a purse or a hubcap. The Democrats have allowed their very identity to drip through their open fingers. They have become a party that calls for censorship, ballot cleansing, and court packing. Now they are dismissing allegations of raw influence peddling after opposing every effort to investigate it.

“..hese legislative attempts to redefine and criminalize speech are a backdoor attempt to rewrite the Constitution and render the First Amendment’s robust safeguards null.”

• How The Police State Muzzles Our Right To Speak Truth To Power (Whitehead)

Tyrants don’t like people who speak truth to power. Cue the rise of protest laws, which take the government’s intolerance for free speech to a whole new level and send the resounding message that resistance is futile. In fact, ever since the Capitol protests on Jan. 6, 2021, state legislatures have introduced a broad array of these laws aimed at criminalizing protest activities. There have been at least 205 proposed laws in 45 states aimed at curtailing the right to peacefully assemble and protest by expanding the definition of rioting, heightening penalties for existing offenses, or creating new crimes associated with assembly. Weaponized by police, prosecutors, courts and legislatures, these protest laws, along with free speech zones, bubble zones, trespass zones, anti-bullying legislation, zero tolerance policies, hate crime laws, and a host of other legalistic maladies have become a convenient means by which to punish individuals who refuse to be muzzled.

In Florida, for instance, legislators passed a “no-go” zone law making it punishable by up to 60 days in jail to remain within 25 feet of working police and other first responders after a warning. Yet while the growing numbers of protest laws cropping up across the country are sold to the public as necessary to protect private property, public roads or national security, they are a wolf in sheep’s clothing, a thinly disguised plot to discourage anyone from challenging government authority at the expense of our First Amendment rights. It doesn’t matter what the source of that discontent might be (police brutality, election outcomes, COVID-19 mandates, the environment, etc.): protest laws, free speech zones, no-go zones, bubble zones, trespass zones, anti-bullying legislation, zero tolerance policies, hate crime laws, etc., aim to muzzle every last one of us.

To be very clear, these legislative attempts to redefine and criminalize speech are a backdoor attempt to rewrite the Constitution and render the First Amendment’s robust safeguards null and void. No matter how you package these laws, no matter how well-meaning they may sound, no matter how much you may disagree with the protesters or sympathize with the objects of the protest, these proposed laws are aimed at one thing only: discouraging dissent. This is the painful lesson being imparted with every incident in which someone gets arrested and charged with any of the growing number of contempt charges (ranging from resisting arrest and interference to disorderly conduct, obstruction, and failure to obey a police order) that get trotted out anytime a citizen voices discontent with the government or challenges or even questions the authority of the powers-that-be.

“Why in the world would anyone want to rent one of these things rather than a gas-powered car? You might be better off with a horse and carriage.”

• The Hertz Meltdown Reveals the Scale of the EV Debacle (Jeffrey Tucker)

The Biden administration’s Environmental Protection Agency (EPA) has revealed its ambition: to phase out gas-powered cars in favor of electric vehicles (EVs). Incredibly, this announcement comes as we are flooded with overwhelming evidence that EVs are a market loser. Indeed, the artificial boom and then meltdown of the EV market is a modern industrial calamity. It was created by government, social media, wild disease frenzy, far-flung thinking, and the irrational chasing of utopia, followed by a rude awakening by facts and reality. CEO of Hertz Stephen Scherr has been booted out due to a vast purchase of an EV fleet that consumers didn’t even want to rent. The company has now been forced to sell them at a deep discount and in a market where consumers are not particularly interested. Looking back, however, Scherr’s decision to bet everything on an EV boom was a disaster that was highly praised at the time.

Only last year, the company bragged: “This morning, [Hertz] was recognized by The White House for our efforts to expand access to electric vehicles across the country. Demand for EV rentals is growing and we’re here to help our customers electrify their travels.” Pleasing the Biden administration is not the same as pleasing consumers. The demand turned south fast in a real-world test of drivers. But that’s not all. Hertz could not make their investment pay no matter what they did. The key issues with EVs are as follows. The cost upfront is much higher. Financing charges are higher. They depreciate at a higher rate than internal combustion cars. The insurance is more expensive, by at least 25 percent. Repairs are much more expensive, if you can get them done at all, and take longer. Tires are more expensive and don’t last as long because the car is so heavy. Refueling is not easy and missteps here can have nightmarish consequences. They are more likely to catch fire. Any motor vehicle accident that impacts the battery can lead to repairs higher than the value of the car, that is totaled with so much as a scratch.

To top it all over, there is no longer any financial advantage to the driver. It now costs slightly more to charge under many conditions than to refuel with gasoline. The novelty of driving one for a day wears off after the first day. At first they seem like the greatest thing that ever happened, like an iPhone with wheels. That’s great but then the problems crop up and people start to realize that they are fine for urban commutes with home chargers and not much else. They make truly terrible rentals. Obviously, under rental conditions, people have to use charging stations rather than a charger in the garage. That means spending part of your vacation figuring out where to find one. Not all are superchargers, and if it is a regular charger, you are looking at an overnight wait. If you do find a station with fast chargers, you might have to wait in line. They might not work. You waste hours doing this. And you likely have to reroute your trip even to find a station without any certainty that you will get a spot with a functioning charger.

No one wants to do this. When you rent a car, all you want is a car that goes the distance. And typically car rentals are for going some distance else you would just take a taxi or a Lyft from the airport. You might need to drive several hours. And god forbid that this takes place in cold weather because that can reduce your mileage by half. Your whole trip will be ruined. Why in the world would anyone want to rent one of these things rather than a gas-powered car? You might be better off with a horse and carriage. Did Hertz think of any of this before they spent $250M on a fleet? Nope. They were just doing the fashionable thing. Again, I’m not knocking some uses for EVs. If you think of them as enclosed and souped up golf carts, you get the idea. They can be wonderful for certain urban environments so long as you don’t overuse them and have to get them repaired. You also have to be in a financial position to afford the higher costs all around, from financing to insurance to repairs and tires. And you have to be prepared to take a big loss on resale, if you can even manage to find a buyer.

Kory

Dr. Pierre Kory: I couldn't even paint the picture of where we are, how much damage that vaccine has done. It's decimated lives, it's been the large part responsible for the drop in life expectancy in United States. We went from 79 to 76 in 3 years. Who has to die for that? The… pic.twitter.com/LwU2HnNecx

— Camus (@newstart_2024) March 23, 2024

Kate?!
https://twitter.com/i/status/1771395851031834888
AI?!
https://twitter.com/i/status/1771242436691366012

Baboon

Using a baboon to locate water in arid environments
pic.twitter.com/VLZDrXJYlt

— Science girl (@gunsnrosesgirl3) March 23, 2024

Storm oil

Storm oil, a nearly water-insoluble oil acting as a surfactant, has been used since ancient times to smooth ocean waves, aiding in sea rescues and enhancing navigational safety by reducing wave intensity.
pic.twitter.com/1VqxYj4XCt

— Science girl (@gunsnrosesgirl3) March 23, 2024

Frens

Big and smol pic.twitter.com/yERYLjgVkA

— smol silly cat (@Catsillyness) March 22, 2024

Mama elephant
https://twitter.com/i/status/1771517926442484209

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Debt Rattle May 1 2017

May 012017

May 1, 2017 Posted by Raúl Ilargi Meijer at 9:29 am Finance Tagged with: brain damage, budget, Canada, debt slaves, default, EU, EV, Frexit, Greece, reflation, revolt 3 Responses »

Walker Evans Air 1930s

• 40% of Americans Spend Up To Half Of Their Income Servicing Debt (MW)

• Are American Debt Slaves Getting in Trouble Again? (WS)

• Congress Agrees $1 Trillion Budget Deal – But No Money For Border Wall (G.)

• Trump Tax Plan ‘Dead On Arrival’, Wall Street ‘Delusional’ – Stockman (CNBC)

• Economics Is A Form Of Brain Damage (RWE)

• Why The Reflation Trade Is About To Fizzle (ZH)

• If Rates Ever Rise Above 3.5% “It Would Spark Massive Defaults” (ZH)

• Toronto Is The King Of Risky Mortgage Debt (BD)

• Canada’s Home Capital Distress and the Contagion Odds (BBG)

• A Perspective on Electric Vehicles (Science Errors)

• For A Treaty Democratizing Euro Area Governance (SE)

• Macron Says EU Must Reform Or Face ‘Frexit’ (BBC)

• Europe’s Youth Don’t Care To Vote—But They’re Ready To Join A Mass Revolt (Qz)

• Schaeuble Says Greece Has Made Good Reform Progress (R.)

“..many consumers in the survey also said they’re spending up to 40% of their income on discretionary purchases such as entertainment, leisure, hobbies and travel. And a quarter said they are prone to “excessive” and “frivolous” spending.”

• 40% of Americans Spend Up To Half Of Their Income Servicing Debt (MW)

Americans are struggling to get out of the red. Some 40% of Americans with debt are spending up to half of their monthly income paying it back. And that may not even be enough to cover how much they owe. That’s according to a study on debt Thursday released by Northwestern Mutual, a life insurance and financial services company. The polling company Harris Poll surveyed more than 2,000 U.S. adults in February 2017 on behalf of Northwestern Mutual. The survey found that nearly half of Americans are carrying at least $25,000 in debt, with an average debt of $37,000, excluding mortgage payments. About one in 10 surveyed said their debt was more than $100,000. “It becomes an ongoing cycle and really hard to get out of, given that people are not prioritizing debt and saving for their future as the first part of their budget,” Rebekah Barsch at Northwestern Mutual said.

Debts that are investments in the future, including mortgages and student loans, can be beneficial in consumers’ long-term financial plans, Barsch added. But many consumers in the survey also said they’re spending up to 40% of their income on discretionary purchases such as entertainment, leisure, hobbies and travel. And a quarter said they are prone to “excessive” and “frivolous” spending. Previous studies have shown similar results. The Federal Reserve announced in early April that collective American credit-card debt had hit $1 trillion. And total household debt, including mortgages, auto loans, credit card debt and student loans, had hit nearly $12.6 trillion. Housing-related debt is down nearly $1 trillion since its 2008 peak, but auto loan balances are $367 billion higher since then and student loans are $671 billion higher, the Fed found.

Mortgages made up 67% of the debt total in 2016. As a result, about 21% of Americans aren’t saving any of their income, according to an April survey from personal finance site Bankrate.com. When asked why they aren’t saving more, 38% of people said they had too many expenses, about 16% said they simply “hadn’t gotten around to” saving, 16% said they didn’t have a good enough job and 13% said they were struggling with debt. The amount each individual or family should put toward their debt is different, Barsch said. She recommended automatically allocating the largest percentage of one’s paycheck possible to high-interest debt and putting discretionary spending at the bottom of the priority list.

Same study, slightly different angle.

• Are American Debt Slaves Getting in Trouble Again? (WS)

American consumers are holding $1 trillion in revolving credit, mostly in credit card debt. So how well is this segment of consumer debt holding up? Synchrony Financial – GE’s spin-off that issues credit cards for Walmart and Amazon – disclosed on Friday that, despite assurances to the contrary just three months ago, net charge-off would rise to at least 5% this year. Its shares plunged 16% and are down 27% year-to-date. Credit-card specialist Capital One disclosed in its Q1 earnings report last week that provisions for credit losses rose to $2 billion, with net charge-offs jumping 28% year-over-year to $1.5 billion.

Synchrony, Capital One, and Discover – a gauge of how well over-indebted consumers are managing to hang on – have together increased their Q1 provisions for bad loans by 36% year-over-year. So this is happening. Other worries about consumer debt in the US are piling up. The $1.4 trillion in student loans are already in crisis, though the government backs them, and they cannot be charged off in bankruptcy. Mortgage debt is still hanging in there, given the surge in home prices that make defaults unlikely. But of the $1.1 trillion in auto loans, subprime loans packaged into asset backed securities are getting crushed by net charge-off rates that are worse than during the Financial Crisis.

The US economy is fueled by credit. Americans turning themselves into debt slaves makes it tick. Take it away, and what little growth there is – nearly zero in the first quarter – will dissipate into ambient air altogether. So it’s time to take the pulse of our American debt slaves In a new study, life insurer and financial services provider Northwestern Mutual found that 45% of Americans that have debt spend “up to half of their monthly income on debt repayment.” Those are the true debt slaves. Excluding mortgage debt, American carry an average debt of $37,000. Of them, 47% carry $25,000 or more, and more than 10% carry $100,000 or more in debt, excluding mortgage debt. Most of them expect to get out of debt before they die, but 14% expect to be in debt “for the rest of their lives.”

This debt adds stress. About 40% said that debt has a “substantial” or “moderate” impact on their financial security; and about as many consider debt a “high” or “moderate” source of anxiety. Given the rising defaults, this is likely to get worse. And what changes would most positively affect their financial situations? The top two: earning more money (29%) and getting rid of debt (26%). Alas, those two, for many people, are precisely the most elusive factors in the current economy. But there is a lot of irony in how Americans look at debt. The study asked them what they would do with a $2,000 windfall: 40% said they’d pay down debt. And this is the irony: they’d pay down their maxed out credit cards, but a few months later, their credit cards would be maxed out again, and thus that $2,000 would be consumed. Because the money always has to get spent.

Just in time for recess?!

• Congress Agrees $1 Trillion Budget Deal – But No Money For Border Wall (G.)

Negotiators have reached a bipartisan agreement on a spending package to keep the US federal government funded until the end of September, according to congressional aides. The House of Representatives and Senate must approve the deal before the end of Friday and send it to the president, Donald Trump, for his signature to avoid the first government shutdown since 2013. Congress is expected to vote early this week on the agreement that is likely to include increases for defense spending and border security. No money will be allocated for Trump’s pet project of a border wall with Mexico after he bowed to Democratic resistance to the plan. However, the deal will allocate an additional $1.5bn for border security, which one congressional aide described as “the most robust border security increase in roughly a decade”, and there was no language in the bill preventing Mexico from paying for the wall if it so desired.

A senior congressional aide told the Guardian that the deal increased defense spending by $12.5bn, with the possibility of $2.5bn more contingent on the White House presenting an anti-Isis plan to Congress. Trump had requested $30bn in increased defense spending. Democrats were pushing to protect funding for women’s healthcare provider Planned Parenthood and sought additional Medicaid money to help the poor in Puerto Rico get healthcare. Both of those goals were achieved. According to a senior congressional aide, the deal also protects other important Democratic priorities. The EPA’s budget is at 99% of current levels and includes increased infrastructure spending as well.

Stockman won’t let go.

• Trump Tax Plan ‘Dead On Arrival’, Wall Street ‘Delusional’ – Stockman (CNBC)

David Stockman has a stern message for investors: They’re living in a fantasy land about Trump. In a recent interview on CNBC’s “Futures Now,” the former director of the Office of Management and Budget under President Reagan said that “Wall Street is totally misreading Washington,” and President Trump’s promises of tax reform will be “dead before arrival.” The president is “essentially a 70-year old kid in a candy store who wants one of everything: More for defense, veterans, border walls, law enforcement, infrastructure and ‘phenomenal’ tax cuts, too—without the inconvenience of paying for any of it,” said Stockman. Of the proposed tax bill announced this week, he said, “It’s a wonderful fantasy…but there’s no way to pay for the $7.5 trillion cost of the main features.”

The White House announced a one-page tax reform plan on Wednesday, and some of the points Stockman highlighted include: Three tax brackets, double standard deduction and the reduction of corporate and non-corporate business taxes down to 15%. In a research note this week, Goldman Sachs pegged the cost of the tax plan to just under $5 trillion, when factoring in key changes such as repealing of the state and local tax, and a 35% top marginal rate instead of 33%. Goldman analysts expect the tax bill is “fairly likely” to become law, but warned progress could be slow. “I like [the tax plan] but you have to pay for it either with a new tax like the border adjustment tax, which is dead, or spending cuts which Trump has ruled off the table,” Stockman explained.

“What you have down there is a total fiscal calamity that is going to basically dominate Washington.” Stockman expects a “constant fiscal crisis and stalemate” in D.C., which will ultimately delay the “good stuff,” like a tax cut, from ever happening. Of Trump’s first 100 days in office, Stockman again referred to the White House as a “pop up store giving out candy before the 100th day to say they’ve accomplished something.” Adding, “this isn’t a serious plan, it can’t be done. And I think it’s only indicative of the huge trouble that’s brewing down there in the beltway.” [..] “I don’t know what the stock market is thinking but if they have faith in a giant fiscal stimulus and tax cut then it’s a delusional faith that’s going to be badly disappointed and I think fairly soon,” he added.”

Suzuki -he’s 80 already?!- always got this.

• Economics Is A Form Of Brain Damage (RWE)

Environmentalist David Suzuki hits the nail on the head. The number of ways that economic theory systematically blinds you to the realities of the world we live in is almost uncountable. When Henry George’s land tax became widely popular, economists “disappeared” land as a factor of production from economic theories, merging it illegitimately with capital. Money is made to “disappear” by using the quantity theory of money to claim that money is veil. This makes it impossible to understand how the mechanisms of creation of money ensure that the wealthy can get rich at the expense of the rest of us.

The parasitical nature of the finance industry has been covered up by the idea of “wealth creation” — when wild speculation doubles the price of stocks, financiers have created wealth, which is a socially valuable activity, instead of a fraud and deception. The ideas of cut-throat competition, survival of fittest, and social darwinism have been used to justify a large number of free market activities which harm the masses to make profits for the wealthy. There is no doubt that believing all of the textbook economic theories leads to serious brain damage, as I myself have experienced — the process of unlearning has been slow and painful. Here is the 2 minute video by David Suzuki:

If you can’t properly define inflation, how could you possibly get this right? Inflation is a meaningless concept if you don’t take into account money velocity. And with falling money velocity because of maxed-out consumers, you will never get reflation.

• Why The Reflation Trade Is About To Fizzle (ZH)

As SocGen writes in previewing tomorrow’s Headline and Core PCE deflators numbers, after spending nearly five years missing to the downside on the inflation target, the Fed finally achieved its goal as the yoy headline PCE deflator hit 2.1% in February. Unfortunately, Fed officials cannot take a victory lap, because they will be right back to missing the target again when the March figures are released. The data in hand from the PPI and CPI suggest that the headline PCE deflator likely fell by 0.164% in March, which would result in the yoy rate falling from 2.1% to 1.9% (1.885% un-rounded).

Energy prices – now virtually unchanged from a year ago – in the CPI fell by 3.2% last month, and these likely flowed through into the PCE as well. However, given the smaller weight of energy in the PCE gauge, the drop in energy prices will result in a smaller drag on the headline PCE index (almost a tenth less than in the CPI). Meanwhile, the CPI’s food index increased by 0.34% in March (that being said, the PCE food index is broader, and the food indexes in the PCE not present in the CPI have been a bit volatile of late). So aside from anniversarying the unchanged Y/Y base effect, here is what else SocGen expects from tomorrow’s anti-reflationary PCE prints: the core PCE deflator looks to have declined by 0.1% in March (-0.072% un-rounded). A reading in line with our forecast would lead the yoy core rate to fall from 1.8% in February to 1.6% in March, which would be the weakest print in nine months.

It’s not just energy however: recall that one of the biggest drivers behind the CPI miss earlier this month was the sharp drop in wireless telecom services in the CPI, which will now flow into the PCE and subtract around 0.075 percentage points (pp) from the monthly change in the core PCE (which is less than the 0.15 pp drag in the core CPI given the lower weight of this index in the core PCE). In other words, the core PCE would have been flat if not for the wireless telecom services index. Offsetting some of this drag will be a positive contribution from health care. Data from the PPI suggests that the health care index may have advanced by around 0.2% last month, marking its biggest rise in five months. Data within the Q1 GDP report suggests that the gain may be closer to 0.3% in March. In any case, core services prices in March look to have been essentially unchanged, while core goods prices may have fallen by 0.3%.

The central banks have trapped themselves and will seek to make you pay for it. Expect a lot of “economic growth will fix it all” comments. But it won’t, we spend $10 to get $1 of growth already.

• If Rates Ever Rise Above 3.5% “It Would Spark Massive Defaults” (ZH)

Earlier today in his weekly note, One River CIO Eric Peters explained that in their attempt to overturn the natural order of the global economic “ecosystem”, what central banks have done is “stunning, unprecedented… and arrogant”, and as a result it is only a matter of time before another “peak instability” moment emerges as “it stands to reason that our volatility-selling machine will break one day. We saw a glimpse of this in 2008-09. And yet, as Peters concedes in a follow up note, those same central bankers don’t have any other option but to kick the can because as the CIO notes, any attempt to break the current ultra-low rate regime would “spark massive defaults.”

Incidentally, those are the same defaults that should have happened during the “near systemic reset” of 2008/2009 but the Fed, in all its wisdom, decided to kick the can at the cost of trillions in global excess liquidity, and while it bought itself some time – in the process unleashing a global deflation wave thanks to zombie companies that should not exist yet do, and every day try to undercut each other on pricing – nearly ten years later it has discovered that it has no way out, for one simple reason: there is now too much accumulated debt. Here is Peters “modelling” out why the Fed is stuck with no way out:

“When debt expands constantly relative to GDP, there’s a limit to how high interest rates can rise without causing massive defaults,” said the Model. “There’s nothing inherently wrong with defaults, they can cleanse a system, but a rise in US defaults from today’s 2.5% to 6.0% would boost unemployment by 3%.” America’s economy is leveraged to the financial system, which includes non-capitalized liabilities; entitlements, pensions, healthcare. “US total debt/GDP is 300%, but if you include these non-capitalized liabilities, it’s more like 800%.” “These non-capitalized liabilities rise as both interest rates and economic growth decline,” continued the same Model. “Low growth produces less income, and low rates supply less investment returns on pensions. Which means companies need to set aside more money to pay the liabilities.” It’s a slow-moving economic death spiral.

“The Neo-Fisher Model posits that we can escape this trap by increasing interest rates. Which will raise investment returns, while simultaneously lifting growth. Fisher’s Model may be right, but it will never be tested in reality.” “In reality the world operates on monthly payments,” explained the same Model. “So if we tested the Fisher Model by raising interest rates meaningfully, we’d spark massive defaults.” Unemployment would jump dramatically. “Our central banking and political reaction function ensures that each rise in unemployment is followed by monetary stimulus.” In the 30yrs since Greenspan became Fed Chairman, borrowers have learned this lesson and responded by leveraging up. “And that’s why US interest rates will never rise sustainably above 3.5%.”

Think Justin still sleeps at night? If so, he needs some wake-up lessons.

• Toronto Is The King Of Risky Mortgage Debt (BD)

Canadian real estate values continue to soar, and a record number of buyers are piling into risky loans. According to the Bank of Canada (BoC), and the Ministry of Finance (MoF), high ratio mortgage borrowers are extending themselves to the limit. While we covered how concerning this trend has become in Toronto, it’s not just isolated to that city. It’s a trend that’s growing across all Canadian urban centers. People taking out high-ratio mortgages combined with incomes too low for the property value, is spreading across Canada. A high-ratio mortgage is defined as a mortgage where the buyer leaves less than a 20% downpayment. The BoC and MoF have both expressed concern when high-ratio mortgages are paired with high income-to-loan ratios. The amount of high risk buyers is increasing as markets reach dizzying heights, especially in urban areas.

Vulnerability isn’t just the buyer’s ability to keep devoting a high percentage of their income to carrying payments. Since the number of these buyers are accelerating as prices get higher, they’re at a greater risk during a correction (not even a crash). Something as small as a 5% drop in value and many of these mortgages would be underwater. If this happens it would mean already broke homeowners would have to pay to get rid of their home. Combine that with a higher interest rate at renewal, and you can imagine the mayhem that can unfold. High-ratio mortgages with low income levels is a growing trend in Canada, but Toronto and Vancouver take it to the next level. Across Canada, 18% of high risk mortgages have extremely low incomes for the homes they’re in, an increase of 38% over two years.

Despite Vancouver’s insanely high prices, Toronto still tops the risky business of subprime borrowers. Toronto takes the top spot with a 53% increase during the same period, bringing their total to 49%. Coming in second is Vancouver which had a 25% increase over the past two years, bringing their total to 39%. These two cities are moving much faster than the average for the country, and they’re getting to dangerously high levels. Although Toronto and Vancouver take the cake, this trend is also growing across Canada, albeit with a lower impact. Over the past 2 years, Calgary saw a 23% increase of high ratio mortgages with at risk-income ratios, totalling 32%. Montreal saw a 30% increase over the past two years, bringing their total to 13%. Ottawa-Gatineau saw a massive 62.5% increase, bringing their total to 13%.

Complete delusion. Everywhere: “Canada’s financial system, deemed the world’s soundest by the World Economic Forum for eight straight years until 2016..” Over many of those years, this was already obviously happening.

• Canada’s Home Capital Distress and the Contagion Odds (BBG)

The escalation of Home Capital’s distress last week has led one of its largest former investors to rethink – if only slightly – the prospects of troubles spreading through the rest of Canada. After the alternative-mortgage lender set up a C$2 billion ($1.5 billion) credit line to offset a run on deposits, Mawer Investment Management’s Jim Hall is recalculating the odds of a contagion widening across one of the world’s strongest financial systems. “The probability has gone from infinitesimal to possible — unlikely, but possible,” said Hall, CIOmoney manager, in an interview Saturday. “If depositors or bondholders start to lose faith in their banks, well then that becomes systemic.”

Mawer, which oversees more than C$40 billion in assets, sold about 2.8 million shares, or a 4.3% stake, in Home Capital in the past week, joining another money manager, QV Investors, in exiting its investment amid the imbroglio consuming the Toronto-based lender. Home Capital has been struggling since April 19, when Ontario’s securities regulator accused management of misleading investors over how the firm handled a review of mortgage brokers who falsified documents about borrowers’ income. Home Capital shares plunged 65% the following day, and the lender has since disclosed an accelerating pace of declines of its high-interest savings balances – deposits used to help fund its mortgage business.

For its part, Home Capital secured a loan to compensate for a drop in deposits and said it’s weighing a sale, hiring RBC Capital Markets and BMO Capital Markets to advise on financing and “strategic options.” Even if withdrawals continue, as expected, the new funding should mitigate it, the company said April 26. Canada’s banking regulator says it’s closely monitoring the situation and surveying other financial firms to assess their condition. “The assets look, at this point, still reasonably good,” Hall said, adding that Home Capital’s problem is a matter of confidence. “Confidence was lost in this company and the business model breaks apart. That’s the problem with banks.”

Canada’s financial system has lots of fire breaks, as Hall describes it, to prevent problems from spreading. “Even if a bank gets itself into a confidence issue, it can be effectively bailed out by another bank or by another financial institution or by ultimately the regulator,” Hall said. Bank failures in Canada’s financial system, deemed the world’s soundest by the World Economic Forum for eight straight years until 2016, are rare. Canadian banks sidestepped the worst of the 2008 financial crisis, having only a fraction of the $1.95 trillion of writedowns and losses suffered by financial firms worldwide.

Posted by Tyler. No time stamp that I could see, but this is an eternal truth anyway.

• A Perspective on Electric Vehicles (Science Errors)

An electric auto will convert 5-10% of the energy in natural gas into motion. A normal vehicle will convert 20-30% of the energy in gasoline into motion. That’s 3 or 4 times more energy recovered with an internal combustion vehicle than an electric vehicle. Electricity is a specialty product. It’s not appropriate for transportation. It looks cheap at this time, but that’s because it was designed for toasters, not transportation. Increase the amount of wiring and infrastructure by a factor of a thousand, and it’s not cheap. Electricity does not scale up properly to the transportation level due to its miniscule nature. Sure, a whole lot can be used for something, but at extraordinary expense and materials. Using electricity as an energy source requires two energy transformation steps, while using petroleum requires only one.

With electricity, the original energy, usually chemical energy, must be transformed into electrical energy; and then the electrical energy is transformed into the kinetic energy of motion. With an internal combustion engine, the only transformation step is the conversion of chemical energy to kinetic energy in the combustion chamber. The difference matters, because there is a lot of energy lost every time it is transformed or used. Electrical energy is harder to handle and loses more in handling. The use of electrical energy requires it to move into and out of the space medium (aether) through induction. Induction through the aether medium should be referred to as another form of energy, but physicists sandwich it into the category of electrical energy. Going into and out of the aether through induction loses a lot of energy.

Another problem with electricity is that it loses energy to heat production due to resistance in the wires. A short transmission line will have 20% loss built in, and a long line will have 50% loss built in. These losses are designed in, because reducing the loss by half would require twice as much metal in the wires. Wires have to be optimized for diameter and strength, which means doubling the metal would be doubling the number of transmission lines. High voltage transformers can get 90% efficiency with expensive designs, but household level voltages get 50% efficiency. Electric motors can get up to 60% efficiency, but only at optimum rpms and load. For autos, they average 25% efficiency. Gasoline engines get 25% efficiency with old-style carburetors and 30% with fuel injection, though additional loses can occur.

Applying this brilliant engineering to the problem yields this result: A natural gas electric generating turbine gets 40% efficiency. A high voltage transformer gets 90% efficiency. A household level transformer gets 50% efficiency. A short transmission line gets 20% loss, which is 80% efficiency. The total is 40% x 90% x 50% x 80% = 14.4% of the electrical energy recovered (85.6% lost) before getting to the vehicle and doing something similar to the gasoline engine in the vehicle.

By Stéphanie Hennette, Thomas Piketty, Guillaume Sacriste and Antoine Vauchez. As I’ve said, I don’t believe the EU can be reformed, because no-one has the power to do it.

• For A Treaty Democratizing Euro Area Governance (SE)

Over the last ten years of economic and financial crisis, a new centre of European power has taken shape: the ‘government’ of the Euro Area. The expression may seem badly chosen as it remains hard to identify the democratically accountable ‘institution’ which today implements European economic policies. We are indeed aiming at a moving and blurred target. Characterized by its informality and opacity, the central institution of that government, the Eurogroup of Finance Ministers of the Euro Area, operates outside the framework of the European treaties and is in no way accountable to the European Parliament, nor to national parliaments. Worse, the institutions that form the backbone of that government – from the ECB and the Commission to the Eurogroup and the European Council – operate following combinations that constantly vary from one policy to the other (Troika Memoranda, European Semester ‘budgetary recommendations’ and bank ‘evaluations’ under the Banking Union).

However scattered they may be, these different policies are truly ‘governed’, as a hard core emerged from the ever closer union of national and European economic and financial bureaucracies – French and German national treasuries, ECB executive board, senior economic officials from the European Commission. As matters stand, this is where the Euro Area is supposedly governed and where the proper political tasks of coordination, mediation and balancing among the current economic and social interests are carried out. In 2012, as he gave up reforming the Treaty on Stability, Coordination and Governance, a cornerstone of this Euro Area governance, François Hollande contributed to consolidating this new power structure. From then onwards, this European executive pole has only seen its competences expand.

Over a decade, its scope for intervention has become significant, ranging from ‘budgetary consolidation’ (austerity) policies to far-reaching coordination of national economic policies (Six Pack and Two Pack), the set-up of rescue plans for member states facing financial distress (Memorandum and Troika), the supervision of all private banks. Both mighty and elusive, the government of the Euro Area evolved in a blind spot of political controls, in some sort of democratic black hole. Who indeed controls the drafting process of Memoranda of Understanding, which impose significant structural reforms in return for the financial assistance of the European Stability Mechanism? Who scrutinizes the executive operations of the institutions making up the Troika?

Who monitors the decisions taken within the European Council of the Heads of State or Government of the Euro Area? Who knows exactly what is negotiated within the two core committees of the Eurogroup, i.e. the Economic Policy Committee and the Economic and Financial Committee? Neither national parliaments, which at best simply control their own executive, nor the European Parliament, which has carefully been sidelined from Euro Area governance. In view of its opacity and isolation, the many criticisms voiced against that Euro Area government seem well deserved, starting with Jürgen Habermas’ denunciation of a “post-democratic autocracy”.

Pre-empting Le Pen.

• Macron Says EU Must Reform Or Face ‘Frexit’ (BBC)

The front-runner in the French presidential election has told the BBC that the EU must reform or face the prospect of “Frexit”. Pro-EU centrist Emmanuel Macron made the comments as he and his far-right rival Marine Le Pen entered the last week of campaigning. French voters go to the polls on Sunday to decide between the pair. Ms Le Pen has capitalised on anti-EU feeling, and has promised a referendum on France’s membership. She won support in rural and former industrial areas by promising to retake control of France’s borders from the EU and slash immigration. “I’m a pro-European, I defended constantly during this election the European idea and European policies because I believe it’s extremely important for French people and for the place of our country in globalisation,” Mr Macron, leader of the recently created En Marche! movement, told the BBC.

“But at the same time we have to face the situation, to listen to our people, and to listen to the fact that they are extremely angry today, impatient and the dysfunction of the EU is no more sustainable. “So I do consider that my mandate, the day after, will be at the same time to reform in depth the European Union and our European project.” Mr Macron added that if he were to allow the EU to continue to function as it was would be a “betrayal”. “And I don’t want to do so,” he said. “Because the day after, we will have a Frexit or we will have [Ms Le Pen’s] National Front (FN) again.”

What I would expect.

• Europe’s Youth Don’t Care To Vote—But They’re Ready To Join A Mass Revolt (Qz)

Young Europeans are sick of the status quo in Europe. And they’re ready to take to the streets to bring about change, according to a recent survey. Around 580,000 respondents in 35 countries were asked the question: Would you actively participate in large-scale uprising against the generation in power if it happened in the next days or months? More than half of 18- to 34-year-olds said yes. The question was part of a European Union-sponsored survey, titled “Generation What?” The report went on to focus on respondents from 13 countries to better understand what young people are optimistic and frustrated about in Europe. Among these spotlighted countries, young people in Greece were particularly interested in joining a large-scale uprising against their government, with 67% answering yes to the question. Respondents in Greece were also more likely to believe politicians were corrupt and to have negative perceptions of the country’s financial sector.

His ‘solution’ is self-defeating. More pension cuts and more taxes will cut more money velocity, hence more GDP. Which means Greece is less able to pay back anything at all.

• Schaeuble Says Greece Has Made Good Reform Progress (R.)

German Finance Minister Wolfgang Schaeuble was quoted in a newspaper interview on Sunday saying that Greece has made strong progress towards introducing reforms that could lead to the imminent release of further financial support. “If the Greek government upholds all the agreements, European finance ministers could complete the review on May 22 and then soon after that release the next tranche,” Schaeuble told the Funke media group newspapers. Greece and its international creditors reached a preliminary agreement at a meeting of eurozone finance ministers in April to set up the next transfer of some €7 billion in aid. But the finance ministers will not release the tranche until the audit is completed.

“The longer it takes, the more uncertainty will be in the financial markets and economy,” Schaeuble added. He said the Greek government had promised to make further adjustments in pensions as well as improve tax collection. Asked why he was optimistic the aid could soon be released, Schaeuble said, “Because we negotiated in a very determined fashion and the Greek government said it would adjust the pensions more strongly to the economic situation. “That’s not easy – I know that. And it wants to improve the tax collection system so that tax revenues will rise again from 2020.”